Policy Papers
2007
September 21, 2007
The Role of the Fund in the Poverty Reduction Strategy Process and Its Collaboration with Donors
Description: This paper proposes an approach to making the MTS operational as it relates to the Fund’s work in LICs that would define more precisely the Fund’s responsibility and accountability in the PRSP and donor collaboration processes. The proposed activities are not “new,” but represent an intensification of existing work and its extension to the all LICs as appropriate. This would help clarify expectations as to the Fund’s role, and establish a consistent institutional approach to collaborating with donors and other stakeholders on the ground.
September 20, 2007
Enhancing Collaboration - Joint Management Action Plan
Description: In March 2006, the Managing Director of the International Monetary Fund (IMF) and the President of the World Bank commissioned the External Review Committee on IMF-World Bank Collaboration to look at the status of institutional collaboration and provide suggestions for improvement. The Committee’s report, released in February 2007, called for the strengthening of the culture of collaboration in the two institutions, and made a number of specific proposals in that direction. The Joint Management Action Plan (JMAP) was prepared against this background, and the actions agreed between Bank and Fund managements in the JMAP are scheduled to be presented in informal Board meetings in early October. The JMAP will be launched immediately after the Annual Meetings. The goal is for most new systems to be operational in time for the preparation of FY09 budgets.
September 12, 2007
Update on the Financing of the Fund's Concessional Assistance and Debt Relief to Low-Income Member Countries
Description: This paper provides a semi-annual review of the status of financing for PRGF-ESF lending, HIPC and MDRI debt relief, and subsidization of emergency assistance to PRGF-eligible members. The last review was completed by the Executive Board on April 13, 2007.
September 10, 2007
Enhanced Heavily Indebted Poor Countries Initiative - Status of Non-Paris Club Official Bilateral Creditor Participation
Description: This paper provides an update on the delivery of HIPC Initiative debt relief by non- Paris Club official bilateral creditors and proposes measures to increase their participation. It finds that non-Paris Club creditors have provided about one third of the total HIPC Initiative debt relief expected from them, with significant variations among creditors. Although the response rate to the survey sent by staffs of the Bank and the Fund to creditors was higher than in previous years, the information received is still limited and partial, and the estimate of debt relief delivered remains preliminary.
August 30, 2007
Aid for Trade-Harnessing Globalization for Economic Development
Description:
Aid for trade can support countries trying to further benefit from the expanding global market place by helping to address poorly performing infrastructure and institutions. Needless to say, good policies also matter: trade liberalization, improving incentives for private investment in trade, and reducing the costs and improving the quality of services. Market access also matters; accordingly, a successful conclusion to the Doha Round remains a top policy objective.
The paper highlights three challenges and suggests some areas for further consideration/action: making competitiveness a pillar of country growth strategies; filling the remaining gaps in trade-related assistance; and expanding the overall aid envelope and making full use of opportunity to replenish the International Development Association.
August 28, 2007
Initiative for Heavily Indebted Poor Countries (HIPC) and Multilateral Debt Relief Initiative (MDRI)- Status of Implementation
Description: This report provides an update on the status of implementation, impact and costs of the enhanced Heavily Indebted Poor Country (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI) since mid-2006. It also discusses the status of creditor participation in both initiatives and the issue of litigation of commercial creditors against HIPCs.
August 22, 2007
Review of the Fund's Strategy on Overdue Financial Obligations
Description: This paper provides an annual review of progress under the Fund’s strengthened cooperative strategy on overdue financial obligations and proposes to extend the availability of the rights approach by another year, to end-August 2008. The rights approach could provide a useful mechanism for arrears clearance for the remaining eligible members, depending on their specific circumstances. A draft decision to this effect is provided in Section V.
August 16, 2007
Implementation Plan in Response to Board-Endorsed Recommendations Arising from the IEO Report on the Evaluation of the IMF Exchange Rate Policy Advice, 1999-2005
Description: This paper presents an implementation plan that responds to the Board endorsed recommendations in the IEO Report on the Evaluation of the IMF's Exchange Rate Policy Advice, 1999-2005 ("the IEO Report"). The IEO recommendations and the views of the Executive Board are summarized in Section II, followed by descriptions of implementation plans (Section III) and the projected resource cost associated with the implementation plan (Section IV).
July 11, 2007
Quotas - Updated Calculations and Data Adjustments
Description: This paper presents the results of updating the data set for quota calculations through 2005. The updated data set would provide the basis for the next round of discussions on quota and voice reforms. The paper also revisits the issue of data adjustments. Consideration of a broader range of specifications for a new quota formula is left for the next paper on quota and voice reforms being issued concurrently.
Notes:
Quota Data 2007
Excel File and PPP GDP Data