This year marks the fifth anniversary of the Poverty Reduction Strategy Papers (PRS) initiative. In light of five years experience in helping to implement the approach, IMF and World Bank staff plan to use the 2005 review to undertake an in-depth assessment of progress, challenges, and good practice related to several key issues. In particular, the review will draw lessons for future policy, with a view to enhancing the PRS effectiveness as a vehicle for attaining the Millennium Development Goals (MDGs).

The review will focus on five themes identified through discussion with stakeholders and a review of literature that are central to the effectiveness of the PRS approach. The themes are:

• Strengthening the medium-term orientation of the PRS approach;
• Utilizing the PRS as a mutual accountability framework between countries and donors;
• Broadening and deepening meaningful participation;
• Enhancing linkages between the PRS, Medium Term Expenditure Frameworks and budgets; and
• Tailoring the approach to conflict-affected and fragile states.

Within these five themes, the review will incorporate analysis from various sources in reporting on overall progress and trends; improvements over past practices; objectives moving forward and benchmarks for assessing progress; good practice; key challenges; and recommendations.

The 2005 review will include the views of staffs and other stakeholders, including country officials, donors, civil society organizations, and other partners. It will draw on studies, reviews and analyses undertaken or planned by external partners. We appreciate any contributions you or your colleagues may have and can discuss these with you in further detail if you have questions. In view of the timetable for this review, which will be presented to our Boards in September 2005, any analysis that feeds into the review should be available by May 2005.

Please send your comments to prs2005review@worldbank.org.