IMF conditionality

Lastra, Rosa M.
December 2002
Journal of International Banking Regulation;Dec2002, Vol. 4 Issue 2, p167
Academic Journal
IMF conditionality,that is the policies and procedures developed by the Fund to govern the access to and the continuing use of its resources by member countries, has always been a very controversial subject. The role of the Fund has evolved and expanded over the last two decades and so has the practice of conditionality. Though the institution continues to focus macroeconomic management, growing emphasis has been placed over the last decade on efficiency issues, microeconomic measures,structural policies and legal and institutional reform. This shift in emphasis has contributed to the broadening scope of conditionality, which has become increasingly attached to structural reforms (hence the term 'structural conditionality including legal reforms. In response to these changes, the IMF Executive Board is currently conducting a review of conditionality with the end goal of revising the 1979 guidelines order to streamline and focus conditionality and to strengthen national ownership. In this paper the author presents her views on the subject, examining the traditional underpinnings of conditionality as well as its dynamic and multi-faceted character.


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