xternal debt crisis. The organization has created special facilities, which deal primarily with LDCs. These facilities are as follows:
1. The extended financing facility was created in 1974, to provide for loans larger than tranche quota loans, and to provide for longer repayment periods than those associated with tranche loans. The extended facility loans wereintended 4for nations where balance of payments problems were attribut able to (a) structural weakness in the internal economy, or (b) weak external positions which precluded the implementation of an effective development program.
2. In the mid 1970s, two temporary oil financing facilities were established. These facilities provided tempor ary loans, without respect to quota, to assist member nations meet the increased costs of oil imports. The oil facilities were (and continue to be) funded through borrowed resources. A subsidy account was also established to assist those member nations most seriously affected by oil price increases in meet ing the int
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