Creating Policy Space - Responsive Design and Streamlined Conditionality in Recent Low-Income Country Programs
September 9, 2009
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An analysis of recent programs in low-income countries, covering countries with continuous program engagement with the IMF throughout the period 2007-09, shows that program design has been adapted to provide expanded policy space in response to the food and fuel price shocks of 2007-08 and to the global financial crisis that followed. The analysis also finds that structural conditionality in Fund-supported programs in low-income countries has become more streamlined, with a dominant focus on public sector resource management and accountability.
Subject: Access to Fund general resources, Conditionality, Economic indicators, Economic policy, External shocks, Financial crisis, Fiscal policy, Fund facilities, Fund role, Global Financial Crisis 2008-2009, Low-income developing countries, Monetary policy
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Policy Papers
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