## Review of Program Design and Conditionality: Reform Proposals

_Policy Papers, September 24, 2026_

## Source details

**Canonical URL:** [Review of Program Design and Conditionality: Reform Proposals](https://www.imf.org/en/publications/policy-papers/issues/2026/09/10/review-of-program-design-and-conditionality-reform-proposals-579551)

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## Bibliographic details
- Published: September 24, 2026
- Series: Policy Papers
- Volume: 2026
- Issue: 029
- Pages: 51
- DOI: https://doi.org/10.5089/9798229060905.007

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### Summary
- Building on the review’s diagnostic work and initial Board guidance, this paper presents proposals to better calibrate IMF-supported programs in a more uncertain and shock-prone world.
- It discusses reform options to:
  - improve program design,
  - strengthen resilience to risks,
  - enhance the catalytic role of Fund financing,
  - and promote the durable resolution of balance of payments problems.

### Major themes and policy areas
- Contingency planning
- Exchange rate policy
- Exchange rates
- Financial crises
- Financial sector policy and analysis
- Financial sector stability
- Fiscal consolidation
- Fiscal policy
- Foreign exchange
- Macrostructural analysis
- Structural reforms

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*International Monetary Fund. Review of Program Design and Conditionality: Reform Proposals (Policy Paper No. 2026/029), September 24, 2026.*

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## Content in this bundle

- **Policy Paper**
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_Source: https://www.imf.org/en/publications/policy-papers/issues/2026/09/10/review-of-program-design-and-conditionality-reform-proposals-579551_