## Review of Program Design and Conditionality: Initial Considerations

_Policy Papers, September 24, 2026_

## Source details

**Canonical URL:** [Review of Program Design and Conditionality: Initial Considerations](https://www.imf.org/en/publications/policy-papers/issues/2026/09/10/review-of-program-design-and-conditionality-initial-considerations-579523)

## Other formats

- [Markdown version](/en/publications/policy-papers/issues/2026/09/10/review-of-program-design-and-conditionality-initial-considerations-579523/index.md)
- [Structured JSON version](/en/publications/policy-papers/issues/2026/09/10/review-of-program-design-and-conditionality-initial-considerations-579523/index.json)
- [Bundle manifest](/en/publications/policy-papers/issues/2026/09/10/review-of-program-design-and-conditionality-initial-considerations-579523/bundle-manifest.json)

## Bibliographic details
- Published: September 24, 2026
- Series: Policy Papers
- Volume: 2026
- Issue: 027
- Pages: 52
- DOI: https://doi.org/10.5089/9798229060516.007
- Stock No: PPEA2026027
- ISBN: 97982

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### Overview
- Paper provides the diagnostic foundation for the 2026 Review of Program Design and Conditionality.
- Draws on extensive empirical analysis and program experience.
- Assesses how IMF-supported programs performed during 2018–24.
- Identifies key strengths and areas for further work in program design and conditionality.
- Highlights the reform areas subsequently developed in the Reform Proposals paper.

### Major findings (high-level)
- Assessment period: 2018–24.
- Emphasis on empirical analysis and program experience informing conclusions.
- Identifies both strengths in program design and specific areas requiring further work (areas not detailed on this page).

### Subjects covered
- COVID-19
- Exchange rate arrangements
- Exchange rates
- Foreign exchange
- Health
- Inflation
- Prices
- Public debt
- Real effective exchange rates

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## Content in this bundle

- **Policy Paper**
  - [Policy Paper (Markdown version)](/-/media/files/publications/pp/2026/english/ppea2026027.pdf.md){rel="alternate" type="text/markdown"}
  - [Policy Paper (PDF)](/-/media/files/publications/pp/2026/english/ppea2026027.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/policy-papers/issues/2026/09/10/review-of-program-design-and-conditionality-initial-considerations-579523_