{
  "title": "Post Program Monitoring During The Pandemic: Proposal For Temporary Streamlining Of Procedures And Renaming Of The Policy",
  "publication": "Policy Papers, May 19, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2021/05/19/post-program-monitoring-during-the-pandemic-460350",
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  "summary": "The increase in Fund lending in the aftermath of the Covid-19 pandemic, including emergency financing, has led to a record number of requests for financing last year, and to an unprecedented amount of credit outstanding.",
  "publishDate": "2021-05-19",
  "series": "Policy Papers",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Publication date: May 19, 2021\n- Core premise: The increase in Fund lending in the aftermath of the Covid-19 pandemic, including emergency financing, has led to a record number of requests for financing last year, and to an unprecedented amount of credit outstanding.\n- Purpose: Emphasizes the need for appropriate safeguards to the Fund’s balance sheet; Post Program Monitoring (PPM) is identified as one such safeguard, providing a framework for deeper and closer engagement with members that have substantial outstanding Fund credit but are not in a program relationship."
    },
    {
      "heading": "Rationale and Context",
      "content": "- Pandemic impact:\n  - Increase in Fund lending in the aftermath of the Covid-19 pandemic, including emergency financing.\n  - Resulted in a record number of requests for financing last year.\n  - Led to an unprecedented amount of credit outstanding.\n- Safeguard objective:\n  - Need for appropriate safeguards to the Fund’s balance sheet in light of increased lending and credit exposure.\n  - PPM cited as a safeguard mechanism for enhanced engagement with members with substantial outstanding Fund credit."
    },
    {
      "heading": "Post Program Monitoring (PPM): Role and Framing",
      "content": "- Function:\n  - Provides a framework for deeper and closer engagement with members that have substantial outstanding Fund credit but are not in a program relationship.\n- Policy action signaled in title:\n  - Proposal for temporary streamlining of procedures.\n  - Proposal for renaming of the policy."
    },
    {
      "heading": "Subjects and Keywords (as listed)",
      "content": "- Subjects: COVID-19, Credit, Emergency assistance, Financial statements, Fiscal policy, Foreign aid, Health, Macro-fiscal framework, Monetary policy, Money, Political economy, Public financial management (PFM)\n- Keywords: Africa, COVID-19, Credit, Emergency assistance, Financial statements, Macro-fiscal framework, PPM decision, PPM discussion, PPM framework, PPM policy, PPM report, PPM threshold\n\n---\n\n Content in this bundle\n\n- Policy Paper\n  - Policy Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Policy Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2021/05/19/post-program-monitoring-during-the-pandemic-460350"
    }
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    "Published: May 19, 2021",
    "Series: Policy Papers",
    "DOI: https://doi.org/10.5089/9781484366080.007",
    "Publication date: May 19, 2021",
    "Core premise: The increase in Fund lending in the aftermath of the Covid-19 pandemic, including emergency financing, has led to a record number of requests for financing last year, and to an unprecedented amount of credit outstanding.",
    "Purpose: Emphasizes the need for appropriate safeguards to the Fund’s balance sheet; Post Program Monitoring (PPM) is identified as one such safeguard, providing a framework for deeper and closer engagement with members that have substantial outstanding Fund credit but are not in a program relationship.",
    "Pandemic impact:",
    "Safeguard objective:",
    "Function:",
    "Policy action signaled in title:",
    "Subjects: COVID-19, Credit, Emergency assistance, Financial statements, Fiscal policy, Foreign aid, Health, Macro-fiscal framework, Monetary policy, Money, Political economy, Public financial management (PFM)",
    "Keywords: Africa, COVID-19, Credit, Emergency assistance, Financial statements, Macro-fiscal framework, PPM decision, PPM discussion, PPM framework, PPM policy, PPM report, PPM threshold",
    "**Policy Paper**"
  ],
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