Revised Operational Guidance to IMF Staff on the 2002 Conditionality Guidelines
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 2014-07-23
Total Pages: 20
ISBN-13: 1498343112
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Staff Guidance Note on Macroprudential Policy
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 2014-06-11
Total Pages: 45
ISBN-13: 1498342620
DOWNLOAD EBOOKThis note provides guidance to facilitate the staff’s advice on macroprudential policy in Fund surveillance. It elaborates on the principles set out in the “Key Aspects of Macroprudential Policy,” taking into account the work of international standard setters as well as the evolving country experience with macroprudential policy. The main note is accompanied by supplements offering Detailed Guidance on Instruments and Considerations for Low Income Countries
Operational Guidance Note on Conditionality—December 2009 Revisions
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 2010-01-25
Total Pages: 11
ISBN-13: 1498337961
DOWNLOAD EBOOKThe 2000-02 comprehensive review of the Fund’s conditionality culminated in the adoption of a set of conditionality guidelines by the Executive Board on September 25, 2002. The 2002 Conditionality Guidelines (the “guidelines”) replace the 1979 Conditionality Guidelines and the Interim Guidance Note on Streamlining Structural Conditionality of September 18, 2000. A review of experience with the guidelines, looking at how they have been implemented and at their impact, is conducted periodically; summary statistics on conditionality have been prepared annually since 2008.
2018 Review of Program Design and Conditionality
Author: International Monetary Fund. Strategy, Policy, & Review Department
Publisher: International Monetary Fund
Published: 2019-05-20
Total Pages: 172
ISBN-13: 1498315712
DOWNLOAD EBOOKThe 2018 Review of Program Design and Conditionality is the first comprehensive stocktaking of Fund lending operations since the global financial crisis. The review assesses program performance between September 2011 and end-2017. Programs during this period were defined by the protracted structural challenges faced by members and hampered by the persistently weak global environment.
Operational Guidance Note On Program Design and Conditionality
Author: International Monetary Fund. Strategy, Policy, & Review Department
Publisher: International Monetary Fund
Published: 2024-01-30
Total Pages: 179
ISBN-13:
DOWNLOAD EBOOKThis note aims to provide guidance on the key principles and considerations underlying the design of Fund-supported programs. The note expands on the previous operational guidance notes on conditionality published over 2003-2014, incorporating lessons from the 2018-19 Review of Conditionality, and other recent key policy developments including the recommendation of the Management’s Implementation Plan in response to Independent Evaluation Office (IEO)’s report on growth and adjustment in IMF-supported programs. The note in particular highlights operational advice to (i) improve the realism of macroeconomic forecast in programs and fostering a more systematic analysis of contingency plans and risks; (ii) improve the focus, depth, implementation, and tailoring of structural conditions (SCs), with due consideration of growth effects; and (iii) help strengthen the ownership of country authorities. Designed as a comprehensive reference and primer on program design and conditionality in an accessible and transparent manner, the note refers in summary to a broad range of economic and policy considerations over the lifecycle of Fund-supported programs. As with all guidance notes, the relevant IMF Executive Board Decisions remain the primary legal authority on matters covered in this note.
International Reserves and Foreign Currency Liquidity
Author: International Monetary Fund. Statistics Dept.
Publisher: International Monetary Fund
Published: 2015-01-07
Total Pages: 258
ISBN-13: 1484350162
DOWNLOAD EBOOKThis update of the guidelines published in 2001 sets forth the underlying framework for the Reserves Data Template and provides operational advice for its use. The updated version also includes three new appendices aimed at assisting member countries in reporting the required data.
Conditionality in Evolving Monetary Policy Regimes
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 2014-05-03
Total Pages: 61
ISBN-13: 1498343694
DOWNLOAD EBOOKWith single-digit inflation and substantial financial deepening, developing countries are adopting more flexible and forward-looking monetary policy frameworks and ascribing a greater role to policy interest rates and inflation objectives. While some countries have adopted formal inflation targeting regimes, others have developed frameworks with greater target flexibility to accommodate changing money demand, use of policy rates to signal the monetary policy stance, and implicit inflation targets.
Revised Staff Statement on Principles Underlying the Guidelines on Conditionality and Operational Guidance Note on the 2002 Conditionality Guidelines
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 2006-09-01
Total Pages: 5
ISBN-13: 1498333028
DOWNLOAD EBOOKAdoption of new guidelines for conditionality has been motivated by an increasing recognition of the importance of several interrelated principles for successful design and implementation of Fund-supported programs. Chief among these are national ownership of reform programs, parsimony in the application of program-related conditions, tailoring of programs to the member’s circumstances, effective coordination with other multilateral institutions, and clarity in the specification of conditions. The operational issues covered in the note are grouped into three areas: (i) the process of negotiation and program design; (ii) the design of conditionality; and (iii) the presentation of conditionality in Board papers for the use of Fund resources. In some cases, implementing the guidelines involves the development of new practices. In other cases, new practices had already been adopted in selected cases, which should become routine.
Staff Guidance Note on the Implementation of the IMF Strategy for Fragile and Conflict-Affected States (FCS)
Author: International Monetary
Publisher: International Monetary Fund
Published: 2023-03-22
Total Pages: 85
ISBN-13:
DOWNLOAD EBOOKThis note provides operational advice and information to help staff implement the IMF Strategy for Fragile and Conflict-Affected States (FCS) approved by the Executive Board on March 9, 2022. Topics covered include (i) the new IMF FCS classification methodology, which is aligned with that of the World Bank; (ii) the preparation of Country Engagement Strategies (CES) that will be rolled out across FCS to ensure that Fund engagement is appropriately tailored to country-specific manifestations of fragility and/or conflict; (iii) advice on tailoring the thematic focus of Article IV consultations and Fund analytics to FCS, as well as on the prioritization, design, and implementation of capacity development (CD) projects in fragile contexts; (iv) guidance on making full use of the flexibilities of the lending toolkit; (v) guidance on engaging in specific FCS situations, including building accountable institutions to exit fragility, cases of rising fragility risks, active conflict, post-conflict, and addressing the impact of external shocks and spillovers; and (v) strengthening partnerships with humanitarian, development, and peace actors, in accordance with the Fund's mandate. Dedicated annexes provide additional information on the CES process, addressing good governance in FCS, program design, and country examples of Fund engagement in FCS.
2023 Handbook of IMF Facilities for Low-Income Countries
Author: International Monetary Fund. Strategy, Policy, & Review Department
Publisher: International Monetary Fund
Published: 2023-04-21
Total Pages: 191
ISBN-13:
DOWNLOAD EBOOKThis Handbook provides guidance to staff on the IMF’s concessional financial facilities and non-financial instruments for low-income countries (LICs), defined here as all countries eligible to obtain concessional financing from the Fund. It updates the previous version of the Handbook that was published in December 2017 (IMF, 2017e) by incorporating modifications resulting from the 2018–19 Review of Facilities for Low-Income Countries and Review of the Financing of the Fund’s Concessional Assistance and Debt Relief to Low-Income Member Countries (IMF, 2019a, b), approved by the Board in May 2019; the reforms introduced in 2021 on the basis of the Board paper Fund Concessional Financial Support for Low-Income Countries—Responding to the Pandemic (IMF, 2021a), approved in July 2021; and a number of other recent Board papers. Designed as a comprehensive reference tool for program work on LICs, the Handbook also refers, in summary form, to a range of relevant policies that apply more generally to IMF members. As with all guidance notes, the relevant IMF Executive Board decisions including the terms of the various LIC Trust Instruments that have been adopted by the Board, remain the primary legal authority on the matters covered in the Handbook.
