Reports on the Incidence of a Longer-Term Program Engagement
Press Release: IMF Releasing Semiannual Reports on the Incidence of Longer-Term Program Engagement
March 5, 2004
Publication of List of Members with Longer-Term Program Engagements
February 25, 2004
Operational Guidance for Assessments of Countries with a Longer-Term Program Engagement
August 20, 2003
Conclusions of the Task Force on Prolonged Use of Fund Resources
February 4, 2003
Public Information Notice: IMF Concludes Discussion on Prolonged Use of Fund Resources
April 9, 2003
Operational Guidance on the New Conditionality Guidelines
May 8, 2003
Guidelines on Conditionality
September 25, 2002
Report on the Incidence of
Longer-Term Program Engagement
Prepared by the Policy Development and Review Department
In consultation with other Departments
Approved by Mark Allen
July 7, 2004
1. During the discussion of the conclusions of the Task Force on Prolonged Use of Fund Resources (SM/03/46), the Executive Board established requirements for undertaking ex post assessments (EPAs) for members with a longer-term program engagement.1 The assessments are intended to provide an analysis of the economic problems facing the country and a critical and frank review of progress during the period of Fund-supported programs, as the basis for a forward-looking assessment that takes into account lessons learned and a strategy for future Fund engagement, including, where appropriate, an explicit "exit strategy." The Executive Board asked for a semi-annual report on the incidence of prolonged use (BUFF/03/5l), defined broadly to include all members with a longer-term program engagement. The first such report was issued on February 25, 2004 and presented information through January 2004 (SM/04/33, Revision 1). This second report provides information through June 2004.
2. The criteria for identifying members subject to the EPA requirement are described in box 1. Countries with longer-term program engagement as of end-June 2004 are shown on Table 1. In comparison with the first report, two additional countries now meet the criteria (Burundi and Ukraine), and none has dropped off the list. Table 2 shows the eleven members for which EPAs have already been discussed at the Board. Five of the 12 EPAs expected to have been submitted for Board consideration in the first half of 2004 have not yet been submitted, mainly due to delays in the completion of the Article IV discussions or program reviews.2 These delayed EPAs are expected to be discussed during the second half of 2004. Over the coming six months, ex post assessments are tentatively expected for 18 countries (Table 3).
1The requirements for ex post assessments are discussed in a guidance note which was circulated to the Board for information (SM/03/233, Revision 1).
2Armenia, Benin, former Yugoslav Republic of Macedonia, Kazakhstan, and Lesotho.