Staff-Monitored Programs—Updated Operational Guidance Note
October 21, 2022
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The note updates and replaces the prior guidance on SMPs, provided in 2003, incorporating changes to the Fund’s lending strategy, and clarifies some operational issues to better guide staff on the use and design of SMPs, while safeguarding even-handed application. Noteworthy changes include clarity on the role of SMPs, specifying the start and end dates of SMPs, clarifying the expected length of SMPs and track record periods, and extensions of SMPs. While many policies are clarified, the principle of flexibility is maintained.
Subject: Asset and liability management, Debt sustainability, Debt sustainability analysis, Emergency assistance, External debt, Foreign aid, Liquidity, Monetary policy, Political economy, Poverty, Poverty reduction strategy
Keywords: Debt sustainability, Debt sustainability analysis, Emergency assistance, fund financial support, fund staff, Liquidity, Poverty reduction strategy, SMP request, SMP Sr, strategy Policy, transparency policy
Pages:
22
Volume:
2022
DOI:
Issue:
048
Series:
Policy Paper No. 2022/048
Stock No:
PPEA2022048
ISBN:
9798400223242
ISSN:
2663-3493
