News Brief: IMF Executive Board Completes Reviews of Poverty Reduction Efforts in Poor Countries
March 15, 2002

Public Information Notice: IMF Executive Board Reviews the Poverty Reduction and Growth Facility (PRGF)
March 15, 2002

Review of the Poverty Reduction and Growth Facility: Issues and Options
February 14, 2002

Public Information Notice: IMF Executive Board Reviews the Poverty Reduction Strategy Paper (PRSP) Approach
March 15, 2002

Review of the Poverty Reduction Strategy Paper (PRSP) Approach: Main Findings
March 15, 2002

Review of the Poverty Reduction Strategy Paper (PRSP) Approach: Early Experience with Interim PRSPs and Full PRSPs
March 26, 2002

Background Information to the Joint IMF/World Bank Review of the Poverty Reduction Strategy Paper Approach
March 26, 2002

The IMF's Poverty Reduction and Growth Facility (PRGF)

Poverty Reduction Strategy Papers (PRSP)

IMF/World Bank Comprehensive Review of the Poverty Reduction Strategy Papers (PRSP) Approach

Poverty Reduction Strategy Papers -- Progress in Implementation
September 14, 2001

Memorandum to Members of the International Monetary and Financial Committee and Members of the Development Committee on Heavily Indebted Poor Countries Initiative and Poverty Reduction Strategy Papers
September 7, 2000

Key Features of IMF Poverty Reduction and Growth Facility (PRGF) Supported Programs
September 7, 2000

See also:
Debt Relief under the HIPC Initiative



Review of the Key Features of the Poverty Reduction and Growth Facility—Staff Analyses

Prepared by the Fiscal Affairs and Policy Development and Review Departments

Approved by Teresa Ter-Minassian and Masood Ahmed

March 15, 2002

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Contents

  1. Introduction

  2. Key Features of the PRGF

  3. Sample Design

  4. Key Features 1 and 2: Broad Ownership and Participation and Embedding the PRGF in the Overall Strategy for Growth and Poverty Reduction
    1. Draw Main Elements of the PRGF-Supported Programs from Country's PRSP and Demonstrate How Macroeconomic and Other Policies Have Been Influenced by Growth and Poverty Objectives
         Broad macroeconomic and macro-relevant objectives
         Macroeconomic targets and projections
         Structural measures
    2. Where Relevant, JSAs and Staff Reports are to Highlight Flexibility in Accepting Country Choices
    3. PRGF Contribution to the Strategy Should be Focused on Areas Within the Fund's Area of Expertise and Responsibility

  5. Key Feature 3: Budgets That are More Pro-Poor and Pro-Growth
    1. Reorienting Government Spending Toward Activities that Benefit the Poor
    2. Improving the Efficiency and Targeting of Spending in Key Sectors Relevant for Growth and Poverty Reduction
    3. Tax Policies that Simultaneously Improve Efficiency and Equity

  6. Key Feature 4: Ensuring Appropriate Flexibility in Fiscal Targets
    1. Fiscal Targets Under PRGF-Supported Programs
    2. Flexibility in Accommodating Changes in Financing or Revenues

  7. Key Feature 5: More Selective Structural Conditionality
    1. Limit Conditionality to Key Measures Central to the Success of the Strategy
    2. Confine Fund Conditionality to Measures in the Fund's Domain; Exceptions Must Be Justified

  8. Key Feature 6: Measures to Improve Public Resource Management and Accountability

  9. Key Feature 7: Social Impact Analysis of Major Macroeconomic Adjustments and Structural Reforms

  10. Conclusion

Boxes

  1. Key Features of PRGF-Supported Programs
  2. Structural Conditionality and Areas of Fund Expertise
  3. Structural Conditionality Boxes-What Story Do They Tell?

Figures

  1. Education and Health Spending in PRGF-Supported Programs: 1999–2001/2002 (In percent of GDP)
  2. Education and Health Spending in PRGF-Supported Programs: 1999–2001/2002 (In percent of total government spending)
  3. Annual Change in Real Per Capita Education and Health Spending in PRGF-Supported Programs
  4. Poverty-Reducing Spending in PRGF-Supported Programs, 1999–2001/2002
  5. Measures for Improving the Efficiency and Targeting of Public Spending in PRGF-Supported Programs
  6. Tax Policy Measures in PRGF-Supported Programs by Type of Tax
  7. Tax Policy Measures in PRGF-Supported Programs by Type of Reform
  8. Tax Administration Measures in PRGF-Supported Programs
  9. Streamlining Conditionality in PRGF-Supported Programs
  10. Composition of Structural Conditionality in PRGF-Supported Programs
  11. PEM Measures in PRGF-Supported Programs
  12. Poverty and Social Impact Analysis (PSIA) in PRGF-Supported Programs and Countervailing Measures

Tables

  1. Stage of PRGF-Supported Arrangement and Stage of PRSPs
  2. Are the Broad Macroeconomic and Macro-Relevant Goals of PRGF-Supported Programs Drawn from I-PRSPs/PRSPs?
  3. Median Economic Assumptions in PRGF- and ESAF-Supported Programs
  4. Fiscal Targets in PRGF- and ESAF-Supported Programs
  5. Streamlining Structural Conditionality

Appendix Tables

  1. Revenues and Expenditures Under PRGF-Supported Programs
  2. Fiscal Targets in Post-Stabilization and Other Countries
  3. Fiscal Targets: Decision Point HIPCs and Other Countries Under PRGF- and ESAF-Supported Programs

Attachments

  1. Summary of Key Features of PRGF-Supported Programs
  2. PRGF and ESAF Staff Reports and Other Documents for the Review