{
  "title": "How to Gain the Most from Structural Conditionality of IMF-Supported Programs",
  "publication": "IMF Working Papers, May 13, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2021/05/13/how-to-gain-the-most-from-structural-conditionality-of-imf-supported-programs-50143",
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  "summary": "Structural conditionality of IMF-supported programs is designed to support structural reforms by countries borrowing from the IMF.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Structural conditionality of IMF-supported programs is designed to support structural reforms by countries borrowing from the IMF.\n- The paper takes stock of program conditions and their implementation.\n- It finds conditionality concentrates on areas where IMF expertise is strong and avoids some structural areas where reforms are often deep-rooted."
    },
    {
      "heading": "Key findings",
      "content": "- Conditionality focuses on fiscal, monetary and financial issues—areas where IMF expertise is strong.\n- Conditionality shies away from structural areas such as labor or product market reforms.\n- As a result, tackling deep-rooted structural issues during IMF-supported programs often remained elusive."
    },
    {
      "heading": "Evaluation framework and case studies",
      "content": "- The paper outlines an evaluation matrix for prioritizing and designing structural reforms.\n- The evaluation matrix is applied to case studies (details and assessments are in the paper)."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- To ensure countries gain most from IMF conditionality, prioritize and design structural reforms using the evaluation matrix proposed in the paper.\n- Emphasize areas where conditionality can be targeted to achieve meaningful structural change while recognizing limits in addressing deep-rooted reforms in labor and product markets during program periods.\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2021/05/13/how-to-gain-the-most-from-structural-conditionality-of-imf-supported-programs-50143"
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    "Authors: Jochen R. Andritzky, Zsuzsa Munkacsi, Ke Wang",
    "Published: May 13, 2021",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513572697.001",
    "Structural conditionality of IMF-supported programs is designed to support structural reforms by countries borrowing from the IMF.",
    "The paper takes stock of program conditions and their implementation.",
    "It finds conditionality concentrates on areas where IMF expertise is strong and avoids some structural areas where reforms are often deep-rooted.",
    "Conditionality focuses on fiscal, monetary and financial issues—areas where IMF expertise is strong.",
    "Conditionality shies away from structural areas such as labor or product market reforms.",
    "As a result, tackling deep-rooted structural issues during IMF-supported programs often remained elusive.",
    "The paper outlines an evaluation matrix for prioritizing and designing structural reforms.",
    "The evaluation matrix is applied to case studies (details and assessments are in the paper).",
    "To ensure countries gain most from IMF conditionality, prioritize and design structural reforms using the evaluation matrix proposed in the paper.",
    "Emphasize areas where conditionality can be targeted to achieve meaningful structural change while recognizing limits in addressing deep-rooted reforms in labor and product markets during program periods.",
    "**Working Paper**"
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