Reflections on Quantitative Fiscal Conditionality in African PRGF-Supported Programs

May 1, 2006

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

We survey quantitative fiscal conditionality in selected sub-Saharan African PRGFsupported programs, and assess the conditionality against some possible benchmarks and best practices. While noting many caveats, the paper suggests some possible scope for further attuning of this conditionality to countries' specific macro-fiscal situations. The paper also offers some suggestions on how quantitative fiscal conditionality might be further enhanced.

Subject: External debt, Fiscal conditionality, Fiscal stance, Inflation, Public debt

Keywords: debt, financing, GDP, performance criterion, WP

Pages:
27
Volume:
2006
DOI:
https://doi.org/10.5089/9781451863789.001
Issue:
118
Series:
Working Paper No. 2006/118
Stock No:
WPIEA2006118
ISBN:
9781451863789
ISSN:
1018-5941

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