Review of the 2002 Conditionality Guidelines

By Tubagus Feridhanusetyawan, Alun H. Thomas, Tessa Van der Willigen, Uma Ramakrishnan, S. Reichold, Juan Zalduendo, James P Walsh

September 7, 2005

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Tubagus Feridhanusetyawan, Alun H. Thomas, Tessa Van der Willigen, Uma Ramakrishnan, S. Reichold, Juan Zalduendo, and James P Walsh. Review of the 2002 Conditionality Guidelines, (USA: International Monetary Fund, 2005) accessed December 3, 2024

Summary

This paper focuses on the fact that the 2004–2005 conditionality review expands to include a review of the application of the new Guidelines on Conditionality, adopted in 2002. These guidelines were the culmination of a comprehensive and far-reaching review of conditionality that aimed to enhance the effectiveness of IMF-supported programs. They represented the first revision of the IMF’s conditionality guidelines since 1979, and were developed by the IMF after seeking input from civil society and public forums held in several countries. This review comes at an early stage of experience with the new guidelines, and further evidence will be needed before definite conclusions can be drawn. The ultimate test of conditionality is whether it contributes to better economic outcomes, including over the medium term, and these cannot yet be gauged. Moreover, although this review draws in part on case studies, no substitute exists for cross-country analysis for identifying broad trends, and at this stage such analysis is hampered by small sample sizes.

Subject: Balance of payments, Balance of payments need, Banking, Civil society, Economic sectors, Financial sector, Public enterprises, Taxes, Value-added tax

Keywords: Appropriateness of the guideline, Balance of payments need, Civil society, Conditionality guideline, Conditionality review, Core area, Extent of recent change, Financial sector, Fund arrangement, Fund-supported program, MISC PUBS, Misc., Public enterprises, Staff statement, Value-added tax, Waiver policy, Way conditionality

Publication Details

Pages:

151
Volume:

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DOI:

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Issue:

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Series:

Policy Paper No. 2005/092
Stock No:

IRDIEA2005001
ISBN:

9781589064911
ISSN:

2663-3493

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