## _cr07307

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---

### Overview
- Second PRSP covers the years 2007 to 2011; first PRSP covered 2002 to 2005.
- Overall strategic priorities retained:
  - (i) macroeconomic stability and effective public resource management;
  - (ii) promotion of pro-poor growth and employment through private sector development;
  - (iii) improved basic social services;
  - (iv) strengthened local communities and civil society organizations (CSOs);
  - (v) mainstreamed multisectoral programs on gender, environment, nutrition, and population.
- Document structure: three volumes — main text, needs assessment, and action plan.
- Objective of phasing expenditures and financing: make progress towards achieving the Millennium Development Goals (MDGs) by 2015.
- Implementation performance of first PRSP: mixed — education and health improved; other programs experienced delays; macroeconomic targets were not met; share of poverty-related expenditures lower than targeted.
- Preparation was highly participatory: stakeholder consultative workshops, focus groups, Participatory Poverty Assessments, Community Scorecards, and “budget games” were used.
- Coordinating arrangements:
  - Strategy for Poverty Alleviation Coordinating Office (SPACO) in DOSFEA coordinated preparation;
  - future overall responsibility to shift to newly created National Planning Commission (NPC) while coordinating with SPACO and Aid Coordination Unit (ACU).
  - Staffs recommend clarifying responsibilities among NPC, SPACO, and ACU to avoid overlaps, ensure consistency with the Paris Declaration on aid effectiveness, allocate adequate resources, consider organizational consolidation, and institutionalize multisectoral participatory monitoring (Inter-Departmental Steering Committee and Poverty Reduction Dialogue Forum).
- Poverty statistics and recommendations:
  - Poverty headcount ratio of 61 percent (based on the 2003 household expenditure survey).
  - Poverty higher for larger households, female-headed households, and those in agriculture and fishing.
  - Large regional variations.
  - Staffs recommend further development of poverty analysis to understand changes over time, subregional disparities, socioeconomic variations, and the impact of public policies (notably groundnut sector reforms).

### Strategic priorities, risks and challenges
- Macroeconomic priorities endorsed:
  - (i) consolidate recent gains in macroeconomic stability;
  - (ii) reduce domestic debt to a sustainable path;
  - (iii) implement revenue and expenditure management reforms.
- Recent policy context:
  - Macroeconomic environment has improved.
  - New Poverty Reduction and Growth Facility (PRGF) arrangement approved in February 2007.
  - Maintaining fiscal discipline is emphasized to reduce domestic debt, lower domestic interest rates, and increase private sector lending.
  - HIPC Completion Point triggers include maintaining stable macroeconomic environment.
  - Staffs recommend prioritizing reforms needed to reach HIPC Completion Point to free resources for poverty reduction and note eligibility for the Multilateral Debt Relief Initiative (MDRI).
  - Recommendation to update PRSP macroeconomic framework with latest available data; revised official data suggest a significantly higher GDP growth outlook than originally anticipated.
- Agriculture sector recommendations:
  - Most poor are farmers in rural areas, particularly groundnut farmers; agricultural productivity has stagnated.
  - Staffs recommend focusing initiatives on private sector promotion, refining PRSP priority programs for productivity improvement, consolidating donor projects, improving effectiveness of public and private funding via coherent policy and public–private partnership.
  - Multisectoral approach advised (agricultural development, employment creation, health, education, physical infrastructure).
  - Government role should be facilitative rather than directly intervening in production and input supply.
  - Specific suggestion: promote private sector participation in government-owned groundnut plants as initial steps toward efficiency and eventual divestment (a HIPC completion point trigger). Authorities are preparing a groundnut sector restructuring strategy.
- Investment climate and private sector development:
  - Doing Business rank: 113 out of 175 countries.
  - PRSP programs: strengthen infrastructure, provide investment incentives, streamline legal and administrative procedures.
  - Legal reforms: slow and intermittent; some progress in operationalizing an Alternative Dispute Resolution (ADR) system.
  - Ongoing assessments:
    - Investment Climate Assessment (ICA): electricity supply is the most critical constraint; access and costs of credit, access to land, and taxes also important.
    - Diagnostic Trade Integration Study (DTIS): will identify constraints and recommend actions for subsector growth and diversification (groundnuts, horticulture, fisheries, tourism).
  - Staffs recommend linking subsector programs to Business Park (Free Trade Zone) initiative, reviewing investment incentive schemes, articulating a comprehensive financial market development strategy to facilitate private sector credit, and linking that strategy to sectoral programs.
- National Water and Electricity Company (NAWEC):
  - Strengthening NAWEC seen as critical for private sector development.
  - Authorities have brought in private management.
  - Staffs recommend:
    - (i) strengthen institutional oversight, possibly via a separate agency for the energy portfolio;
    - (ii) improve contractual arrangements for private management with specific performance targets and conflict-of-interest safeguards;
    - (iii) strengthen legal/regulatory environment by building capacity and enhancing mandate of Public Utilities Regulatory Authority (PURA).
  - Note: international private investors require robust and independent regulation to invest.
- Social sectors challenges and recommendations:
  - Next challenges: improve education outcomes and quality, emphasize primary services and preventive care.
  - Enrollment rates compare favorably regionally, but high failure rates in standardized tests indicate poor quality.
  - Health recommendations: decentralize resources and responsibilities to regional units (Divisional Health Teams), develop and expand community-based services, adopt more transparent and competitive drug procurement, prioritize strengthening human resources and incentivize personnel allocation to rural areas.
- Decentralization and social development funds:
  - PRSP supports greater decentralization and expansion of social development funds.
  - Limited progress in implementing Local Government Act (2002); staffs recommend preparing a country-owned implementation plan and sensitization program.
  - Clarify role of the Poverty Reduction Fund in relation to existing social development funds.
- HIV/AIDS and population/environment programs:
  - Latest data from 2005: HIV-1 infection stabilized at 1.1 percent and HIV-2 at 0.6 percent.
  - PRSP challenges: sustain successes through multisectoral approach focused on family planning and social marketing of condoms targeting core transmitters.
  - Progress noted on reducing malnutrition and expanding vaccination.
  - Staffs recommend a more comprehensive assessment of national programs on population and environment.
- Gender:
  - Increase in female enrolment rate identified as a major PRSP success; significant contributor: girls scholarship program.
  - Staffs recommend education outreach to change traditional views limiting women's opportunities and mainstream gender into development policies (access to credit, markets, employment).
- Key risks:
  - Slippages in macroeconomic policies (fiscal indiscipline, loose monetary policies) remain a significant risk — a lesson from the first PRSP.
  - Other major risks: low public sector capacity and governance shortcomings.
  - Ongoing mitigations: civil service reform, initiatives to strengthen public resource management, investment climate, and independence of the CBG.
  - Staffs emphasize maintaining development partner dialogue on governance strengthening.

### Key implementation issues
- Results orientation and action plan:
  - Second PRSP includes an implementation action plan outlining costed priority activities.
  - Staffs recommend refining target outcomes and outputs, strengthening linkages between outcomes/outputs and program activities/inputs, and better defining and quantifying many indicators.
  - Donor coordination would be improved if action plan indicated which donors are active in which strategic areas.
  - Past JSAN monitoring recommendations remain relevant:
    - (i) produce Annual Progress Reports (APRs) in a timelier manner;
    - (ii) utilize APRs to make strategic PRSP adjustments;
    - (iii) better integrate APRs into the budget process.
  - Last APR produced was for 2004.
- Data and statistical capacity:
  - Establishment of semi-autonomous Gambia Bureau of Statistics (GBOS); enactment of new Statistics Act (2005); preparation of a Statistical Master Plan; constitution of a Statistics Council.
  - Staffs recommend adequate resourcing of GBOS, ensuring semi-independence while holding it accountable for improved data quality and availability.
  - Economic statistics need improvement; newly collected datasets and reports (household survey, poverty analysis, economic census) should be disseminated widely and timely.
- Integration of PRSP priorities into budget process:
  - Progress: budget codes that identify PRSP-related expenditures.
  - PRSP emphasizes adoption of a Medium-Term Expenditure Framework (MTEF); progress slow.
  - Adoption of MTEF will require DOSFEA leadership in collaboration with NPC, better reliability of sectoral allocation projections, and preparation of coherent costed sector strategies with defined outcomes and outputs.
  - Existing Public Expenditure Reviews (PERs) for education, health, agriculture, and roads can form the MTEF basis; Sector Wide Approaches (SWAps) in education and health initiated.
- Financing gap and prioritization:
  - Financing gap defined as total cost of action plan activities minus projected government and donor contributions and HIPC savings.
  - Country reached HIPC Decision Point in December 2000 but not Completion Point.
  - Staffs recommend improving financing gap estimates by:
    - (i) updating estimates of government, donor and debt relief funding;
    - (ii) identifying activities already funded by ongoing or imminent donor projects to determine additional funding needs;
    - (iii) classifying activities as capital or current expenditures and addressing recurrent cost implications of capital spending.
  - Certain activities (e.g., civil service reform) need further elaboration and costing.
  - Estimated funding gap is quite large; on an annual basis, it is slightly larger than the total average external grants and loans that the country currently receives — staffs recommend further prioritization.
- Civil service reform:
  - Staffs agree on the need for comprehensive civil service reform to build public sector capacity, recruit and retain qualified personnel, and improve organizational and individual performance.
  - Reforms under preparation with donor support and based on public sector capacity assessment.
  - Staffs recommend reforms focused on pay and employment management, public sector capacity and governance.
  - Compensation package should be comprehensively analyzed and linked to performance.
  - Critical to address governance shortcomings: lack of transparency, accountability, and rule of law.

### Local capacity building and public financial management (PFM)
- Staffs recommend that the authorities focus on local capacity building to sustain ongoing PFM reforms.
- PRSP refers to the Integrated Financial Management Information System (IFMIS) as integral to strengthening public expenditure management and monitoring PRSP related expenditures.
- The first phase of IFMIS was launched in January 2007.
- IFMIS sustainability will depend on building a knowledgeable local team which is properly resourced.
- IFMIS currently does not cover expenditures from donor projects; given the significant share of these expenditures in public spending, their eventual incorporation in IFMIS would significantly improve PFM.
- Progress noted in reducing the backlog of public accounts; continued progress is critical.
- Gambia Revenue Authority (GRA):
  - PRSP cites central role of newly established semi-autonomous GRA in improving revenue collection.
  - GRA sustainability depends on adequate funding of recurrent costs.
  - Possible source of increased funding: performance incentives linked to revenue collection.
  - Staffs commend the first ever taxpayer survey conducted in 2005 and recommend it be highly publicized and its shortcomings addressed.

### Governance and transparency
- Strengthened governance remains a PRSP priority.
- Critical areas: public expenditure management, public procurement, the investment climate, and internal controls at the Central Bank.
- PRSP recognizes past governance shortcomings at the Central Bank of The Gambia (CBG), which damaged the economy. Shortcomings included:
  - (i) inadequate internal controls, particularly for international reserves;
  - (ii) questionable audit practices;
  - (iii) lack of independence reflected in government interference in CBG operations and limited control over credit to the government.
- PRSP process should be open, transparent and participatory to promote country ownership and a government responsive to the needs of the poor.
- Free dissemination of information and an independent media are critical.

### Conclusion, institutionalization of PRSP, and implementation issues
- Staffs recommend further institutionalization of the PRSP process as a comprehensive approach to overall public policy-making.
- PRSP should go beyond aggregating sector policies and project initiatives and be used as a forum to prioritize and sequence policies and activities.
- Prioritization is needed because:
  - resources are limited and the funding gap significant; and
  - the absorptive capacity of the public sector is limited.
- Roundtable discussions could be used for further prioritization once financing gap estimates have been refined.
- Monitoring of PRSP related expenditures is expected to be further regularized through IFMIS generated reports.
- Staffs recommend refining PRSP budget codes and strengthening their linkages to program activities and target outputs and outcomes.
- NPC is expected to take a leadership role in preparing and implementing PRSP programs and integrating them with the budget.
- Importance of smoothly managing the transition period until NPC is adequately resourced and close collaboration with DOSFEA and line ministries.

### Issues for discussion
- Do Directors agree with staffs’ conclusions for:
  - (i) areas in which further analysis or adjustments to the PRSP are needed;
  - (ii) improving its implementation; and
  - (iii) possible risks.

*Prepared by the Staffs of the International Monetary Fund and the International Development Association; Joint Staff Advisory Note on the Poverty Reduction Strategy Paper for The Gambia (Section 1).*

### Section 1

### The Gambia: Poverty Reduction Strategy Paper—Joint Staff Advisory Note (Section 1)

### Overview
- Second PRSP covers the years 2007 to 2011; first PRSP covered 2002 to 2005.
- Overall strategic priorities retained: (i) macroeconomic stability and effective public resource management; (ii) promotion of pro-poor growth and employment through private sector development; (iii) improved basic social services; (iv) strengthened local communities and civil society organizations (CSOs); and (v) mainstreamed multisectoral programs on gender, environment, nutrition, and population.
- Document structure: three volumes — main text, needs assessment, and action plan.
- Objective of phasing expenditures and financing: make progress towards achieving the Millennium Development Goals (MDGs) by 2015.
- Implementation performance of first PRSP: mixed — education and health improved; other programs experienced delays; macroeconomic targets were not met; share of poverty-related expenditures lower than targeted.
- Preparation was highly participatory: stakeholder consultative workshops, focus groups, Participatory Poverty Assessments, Community Scorecards, and “budget games” were used.
- Coordinating arrangements: Strategy for Poverty Alleviation Coordinating Office (SPACO) in DOSFEA coordinated preparation; future overall responsibility to shift to newly created National Planning Commission (NPC) while coordinating with SPACO and Aid Coordination Unit (ACU).
- Staffs recommend clarifying responsibilities among NPC, SPACO, and ACU to avoid overlaps, ensure consistency with the Paris Declaration on aid effectiveness, allocate adequate resources, consider organizational consolidation, and institutionalize multisectoral participatory monitoring (Inter-Departmental Steering Committee and Poverty Reduction Dialogue Forum).
- Poverty statistics and recommendations:
  - Poverty headcount ratio of 61 percent (based on the 2003 household expenditure survey).
  - Poverty higher for larger households, female-headed households, and those in agriculture and fishing.
  - Large regional variations.
  - Staffs recommend further development of poverty analysis to understand changes over time, subregional disparities, socioeconomic variations, and the impact of public policies (notably groundnut sector reforms).

### Strategic priorities, risks and challenges
- Macroeconomic priorities endorsed: (i) consolidate recent gains in macroeconomic stability; (ii) reduce domestic debt to a sustainable path; (iii) implement revenue and expenditure management reforms.
- Recent policy context:
  - Macroeconomic environment has improved.
  - New Poverty Reduction and Growth Facility (PRGF) arrangement approved in February 2007.
  - Maintaining fiscal discipline is emphasized to reduce domestic debt, lower domestic interest rates, and increase private sector lending.
  - HIPC Completion Point triggers include maintaining stable macroeconomic environment.
  - Staffs recommend prioritizing reforms needed to reach HIPC Completion Point to free resources for poverty reduction and note eligibility for the Multilateral Debt Relief Initiative (MDRI).
  - Recommendation to update PRSP macroeconomic framework with latest available data; revised official data suggest a significantly higher GDP growth outlook than originally anticipated.
- Agriculture sector recommendations:
  - Most poor are farmers in rural areas, particularly groundnut farmers; agricultural productivity has stagnated.
  - Staffs recommend focusing initiatives on private sector promotion, refining PRSP priority programs for productivity improvement, consolidating donor projects, improving effectiveness of public and private funding via coherent policy and public–private partnership.
  - Multisectoral approach advised (agricultural development, employment creation, health, education, physical infrastructure).
  - Government role should be facilitative rather than directly intervening in production and input supply.
  - Specific suggestion: promote private sector participation in government-owned groundnut plants as initial steps toward efficiency and eventual divestment (a HIPC completion point trigger). Authorities are preparing a groundnut sector restructuring strategy.
- Investment climate and private sector development:
  - Doing Business rank: 113 out of 175 countries.
  - PRSP programs: strengthen infrastructure, provide investment incentives, streamline legal and administrative procedures.
  - Legal reforms: slow and intermittent; some progress in operationalizing an Alternative Dispute Resolution (ADR) system.
  - Ongoing assessments:
    - Investment Climate Assessment (ICA): electricity supply is the most critical constraint; access and costs of credit, access to land, and taxes also important.
    - Diagnostic Trade Integration Study (DTIS): will identify constraints and recommend actions for subsector growth and diversification (groundnuts, horticulture, fisheries, tourism).
  - Staffs recommend linking subsector programs to Business Park (Free Trade Zone) initiative, reviewing investment incentive schemes, articulating a comprehensive financial market development strategy to facilitate private sector credit, and linking that strategy to sectoral programs.
- National Water and Electricity Company (NAWEC):
  - Strengthening NAWEC seen as critical for private sector development.
  - Authorities have brought in private management.
  - Staffs recommend: (i) strengthen institutional oversight, possibly via a separate agency for the energy portfolio; (ii) improve contractual arrangements for private management with specific performance targets and conflict-of-interest safeguards; (iii) strengthen legal/regulatory environment by building capacity and enhancing mandate of Public Utilities Regulatory Authority (PURA).
  - Note: international private investors require robust and independent regulation to invest.
- Social sectors challenges and recommendations:
  - Next challenges: improve education outcomes and quality, emphasize primary services and preventive care.
  - Enrollment rates compare favorably regionally, but high failure rates in standardized tests indicate poor quality.
  - Health recommendations: decentralize resources and responsibilities to regional units (Divisional Health Teams), develop and expand community-based services, adopt more transparent and competitive drug procurement, prioritize strengthening human resources and incentivize personnel allocation to rural areas.
- Decentralization and social development funds:
  - PRSP supports greater decentralization and expansion of social development funds.
  - Limited progress in implementing Local Government Act (2002); staffs recommend preparing a country-owned implementation plan and sensitization program.
  - Clarify role of the Poverty Reduction Fund in relation to existing social development funds.
- HIV/AIDS and population/environment programs:
  - Latest data from 2005: HIV-1 infection stabilized at 1.1 percent and HIV-2 at 0.6 percent.
  - PRSP challenges: sustain successes through multisectoral approach focused on family planning and social marketing of condoms targeting core transmitters.
  - Progress noted on reducing malnutrition and expanding vaccination.
  - Staffs recommend a more comprehensive assessment of national programs on population and environment.
- Gender:
  - Increase in female enrolment rate identified as a major PRSP success; significant contributor: girls scholarship program.
  - Staffs recommend education outreach to change traditional views limiting women's opportunities and mainstream gender into development policies (access to credit, markets, employment).
- Key risks:
  - Slippages in macroeconomic policies (fiscal indiscipline, loose monetary policies) remain a significant risk — a lesson from the first PRSP.
  - Other major risks: low public sector capacity and governance shortcomings.
  - Ongoing mitigations: civil service reform, initiatives to strengthen public resource management, investment climate, and independence of the CBG.
  - Staffs emphasize maintaining development partner dialogue on governance strengthening.

### Key implementation issues
- Results orientation and action plan:
  - Second PRSP includes an implementation action plan outlining costed priority activities.
  - Staffs recommend refining target outcomes and outputs, strengthening linkages between outcomes/outputs and program activities/inputs, and better defining and quantifying many indicators.
  - Donor coordination would be improved if action plan indicated which donors are active in which strategic areas.
  - Past JSAN monitoring recommendations remain relevant: (i) produce Annual Progress Reports (APRs) in a timelier manner; (ii) utilize APRs to make strategic PRSP adjustments; (iii) better integrate APRs into the budget process.
  - Last APR produced was for 2004.
- Data and statistical capacity:
  - Establishment of semi-autonomous Gambia Bureau of Statistics (GBOS); enactment of new Statistics Act (2005); preparation of a Statistical Master Plan; constitution of a Statistics Council.
  - Staffs recommend adequate resourcing of GBOS, ensuring semi-independence while holding it accountable for improved data quality and availability.
  - Economic statistics need improvement; newly collected datasets and reports (household survey, poverty analysis, economic census) should be disseminated widely and timely.
- Integration of PRSP priorities into budget process:
  - Progress: budget codes that identify PRSP-related expenditures.
  - PRSP emphasizes adoption of a Medium-Term Expenditure Framework (MTEF); progress slow.
  - Adoption of MTEF will require DOSFEA leadership in collaboration with NPC, better reliability of sectoral allocation projections, and preparation of coherent costed sector strategies with defined outcomes and outputs.
  - Existing Public Expenditure Reviews (PERs) for education, health, agriculture, and roads can form the MTEF basis; Sector Wide Approaches (SWAps) in education and health initiated.
- Financing gap and prioritization:
  - Financing gap defined as total cost of action plan activities minus projected government and donor contributions and HIPC savings.
  - Country reached HIPC Decision Point in December 2000 but not Completion Point.
  - Staffs recommend improving financing gap estimates by: (i) updating estimates of government, donor and debt relief funding; (ii) identifying activities already funded by ongoing or imminent donor projects to determine additional funding needs; (iii) classifying activities as capital or current expenditures and addressing recurrent cost implications of capital spending.
  - Certain activities (e.g., civil service reform) need further elaboration and costing.
  - Estimated funding gap is quite large; on an annual basis, it is slightly larger than the total average external grants and loans that the country currently receives — staffs recommend further prioritization.
- Civil service reform:
  - Staffs agree on the need for comprehensive civil service reform to build public sector capacity, recruit and retain qualified personnel, and improve organizational and individual performance.
  - Reforms under preparation with donor support and based on public sector capacity assessment.
  - Staffs recommend reforms focused on pay and employment management, public sector capacity and governance.
  - Compensation package should be comprehensively analyzed and linked to performance.
  - Critical to address governance shortcomings: lack of transparency, accountability, and rule of law.

*Prepared by the Staffs of the International Monetary Fund and the International Development Association; Joint Staff Advisory Note on the Poverty Reduction Strategy Paper for The Gambia (Section 1).*

### Section 2

### _cr07307 - Section 2

### Local capacity building and public financial management (PFM)
- The staffs recommend that the authorities focus on local capacity building in order to sustain ongoing public financial management (PFM) reforms.
- The PRSP refers to the Integrated Financial Management Information System (IFMIS) as an integral part of its strategy to strengthen public expenditure management and monitor PRSP related expenditures.
- The first phase of IFMIS was launched in January 2007.
- IFMIS sustainability will depend on building a knowledgeable local team which is properly resourced.
- IFMIS currently does not cover expenditures from donor projects; given the significant share of these expenditures in public spending, their eventual incorporation in IFMIS would significantly improve PFM.
- There has been some progress in reducing the backlog of public accounts, and it will be critical to continue making progress.
- With respect to improving management of revenue collection, the PRSP cites the central role of the newly established semi-autonomous Gambia Revenue Authority (GRA).
- The GRA will be sustainable only if its recurrent costs are adequately funded.
- A possible source of increased funding for GRA is performance incentives linked to revenue collection.
- The staffs commend the first ever taxpayer survey conducted in 2005, and recommend that it be highly publicized, and actions be taken to address shortcomings identified in the survey.

### Governance and transparency
- Strengthened governance remains a priority for the PRSP process.
- It will be critical to sustain ongoing efforts to strengthen public expenditure management, public procurement, the investment climate, and internal controls at the Central Bank.
- The second PRSP recognizes past governance shortcomings at the Central Bank of The Gambia (CBG), and the damaging role it had on the economy. Governance shortcomings included:
  - (i) inadequate internal controls, particularly for international reserves;
  - (ii) questionable audit practices; and
  - (iii) lack of independence reflected in government interference in CBG operations and limited control over credit to the government.
- The PRSP process should be open, transparent and participatory to promote country ownership and a government that is responsive to the needs of the poor.
- Free dissemination of information and an independent media are critical to this effort.

### Conclusion, institutionalization of PRSP, and implementation issues
- The staffs recommend further institutionalization of the PRSP process as a comprehensive approach to overall public policy-making.
- The PRSP process should go beyond simply aggregating sector policies and project initiatives and be used as a forum to prioritize and sequence policies and activities.
- Prioritization is needed because:
  - resources are limited and the funding gap significant; and
  - the absorptive capacity of the public sector is limited.
- Roundtable discussions could be used for further prioritization once estimates of the financing gap have been refined.
- Monitoring of PRSP related expenditures is expected to be further regularized through IFMIS generated reports.
- The staffs recommend refining the PRSP budget codes which are the basis for the PRSP expenditure reports, and strengthening their linkages to program activities and target outputs and outcomes.
- The newly created National Planning Commission (NPC) is expected to take a leadership role in preparing and implementing PRSP programs and integrating them with the budget.
- It will be important to smoothly manage the transition period until NPC is adequately resourced such that it is able to fully carry out its mandate.
- Close collaboration with DOSFEA and the line ministries will also be critical.

### Issues for discussion
- Do Directors agree with staffs’ conclusions for:
  - (i) areas in which further analysis or adjustments to the PRSP are needed;
  - (ii) improving its implementation; and
  - (iii) possible risks.

*Source: _cr07307 - Section 2*

---


_Source: https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2007/_cr07307.pdf_