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IMF Seeks your Views

Consultation on IMF Low-Income Countries Work

Last Updated: June 18, 2012

The IMF thanks all NGOs, academia, think tanks, private sector, governments and individuals who have provided written comments during the IMF Low-Income Countries work on-line consultation period. The on-line process has officially ended by the end of May, 2012. Please find below the comments submitted on April 16, 2012 - May 22, 2012. If you have any questions, please send an e-mail to IMFConsultationLIC@imf.org.

Background

In 2009, the IMF undertook a comprehensive reform of its facilities for low-income countries (LICs) to make them more flexible and tailored to the increasingly diverse needs of its LIC members. The overhaul was part of the IMF's overall response to the global crisis and helped improve its ability to assist LICs. The same year, the Fund adopted a new policy on external debt limits in IMF-supported programs. Debt limits seek to prevent the build-up of unsustainable debt, while allowing for adequate external financing.

With almost three two years having passed since the introduction of these reforms for supporting low-income countries, the IMF is undertaking a Review on Fund's Facilities for LIC and the Debt Limits Policy to assess the experience to date and identify areas where further refinements could be considered.

In the context of this review, the IMF is engaging in a broad consultative process to seek feedback from country authorities, development partners, academia, and members of civil society. As part of this process, we would be happy to receive written comments or suggestions for both the Review of Facilities for LIC and the Debt Limits Policy.

Review of the Fund’s Facilities for Low-Income Countries

Assess the experience of the Fund’s Facilities for Low-Income Countries to date and identify areas for further refinements.

In view of the protracted turbulence and uncertainty in the global economy, the review—which was mandated by the Executive Board when the reforms were adopted—provides a timely opportunity to consider how effectively the IMF’s toolkit helps insure LICs against global spillovers.

PDF on the Review of the Fund’s Facilities for Low-Income Countries 

Review of the Fund's Debt Limits Policy

Undertake a review of the Fund's Debt Limits Policy to take stock of experiences and identify areas where further improvements could be considered.

This review also provides an excellent opportunity to assess whether the policy continues to strike the appropriate balance between addressing fundamental development needs in low-income countries and maintaining debt sustainability.

PDF on the Review of the Debt Limits Policy 

PROCEDURES

The IMF Consultation Team will receive the comments and post a summary of the comments received. Senders can request that their comments be private. Any interested stakeholder can submit their input through the following channels:

Email: IMFConsultationLIC@imf.org

Fax: +1 202 623 6220

When submitting your comments, via fax or email, please include the following information so that your comments are registered: name of sender; company or organization you represent; address; country; phone number; and e-mail address.

Consultation Period

The public consultation process for the IMF review on Low-Income Countries (LICs) facilities and the Fund's Debt Limits Policy for Low-Income Countries will start April 16th , 2012 and will conclude on May 22, 2012. Comments should be submitted no later than May 22, 2012.