Revised Staff Statement on Principles Underlying the Guidelines on Conditionality and Operational Guidance Note on the 2002 Conditionality Guidelines
January 9, 2006

Public Information Notice: IMF Executive Board Discusses Review of the Conditionality Guidelines
April 15, 2005

Review of the 2002 Conditionality Guidelines
March 3, 2005

Operational Guidance on the New Conditionality Guidelines
May 8, 2003

Guidelines on Conditionality
September 25, 2002

IMF Conditionality - A Factsheet


Review of the 2002 Conditionality Guidelines—Selected Issues

Prepared by the Policy Development and Review Department
In consultation with other Departments

March 4, 2005

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Contents

Introduction
   
I. Program Implementation
A. Introduction
B. Program Interruptions
C. Implementation of Structural Conditionality
D. Regional Differences
E. Conclusions
   
II. Goals and Strategies in Fund-Supported Programs
A. Introduction
B. Goals
C. Strategies
D. Conclusion
   
III. Breadth of Coverage of Structural Conditionality
A. Introduction
B. Institutional Classification
C. Economic Classification
D. Conditionality and Initial Economic Conditions
E. Conclusions
   
IV. Use of the Tools of Conditionality
A. Types of Conditions-Structural Performance Criteria and Structural Benchmarks
B. Timetables for Implementing Structural Conditions
C. The Scope of Reviews
V. Prior Actions
   
VI. Conditionality in Capital Account Crisis Cases
A. Overall Findings
B. Country Experiences
   
VII. The Process of Program Development
A. Introduction
B. Ownership, Implementation and the Role of Process
C. Review of the Process
D. Conclusion
   
Tables
1. Program Interruptions
2. Implementation of Structural Conditionality
3. Frequency of Stated Goals and Strategies in Staff Reports for Requests for Fund Arrangements
4. Institutional Classification of Structural Conditionality
5. Decomposition of Aggregate Changes in the Implementation Index
6. Economic Classification of Structural Conditionality
7. Developments in Vulnerability-Related Conditionality
8. Concentration of Conditionality in Distinct Reform Categories
9. Decomposition of Aggregate Changes in the Implementation Index
10. Number of Structural Measures and Initial Economic Conditions: Regression Results
11. Selected Cases of Choice of Structural Conditions
12. The Process of Program Development-Selected Programs
   
Figures
1. Permanent Program Interruptions
2. Temporary Program Interruptions and Review Delays
3. Waiver Rates for PCs
4. Composition of PC Waiver Rate (in percent)
5. Implementation of PCs versus SBs
6. Implementation Index, excluding PAs
7. Implementation by Region
8. Distribution of Growth-Related Conditionality
9. Distribution of Governance Conditionality
10. Distribution of Financial Sector Conditionality
11. Institutional Classification of Structural Conditionality
12. Economic Classification of Structural Conditionality
13. Economic Classification in Transition and Non-Transition Economies
14. Distribution of Vulnerability-Related Conditionality
15. Structural Conditionality and Track Record
   
Boxes
1. Justifying Strategies: The Case of Lesotho
2. Structural Benchmarks in Brazil's Financial Sector (2002 Stand-By Arrangement)
3. Countries with Extensive Structural Performance Criteria in 2003-04
4. Is the Timetable for Structural Performance Criteria Realistic?
5. Changes in the Structure of Conditions during Fund-Supported Programs
6. Structural Conditionality in Romania 1
7. Prior Actions and Staff-Monitored Programs
   
Appendices
I. Comparison with Waiver Rates in "Modalities of Conditionality--Further Considerations"
II. Prior Actions: Past Performance and Implementation
   
Annexes
I. Data Source, Sample and Data Definition
II. List of Fund-Supported Arrangements