## Macro Research for Development: An IMF-FCDO Collaboration ## Source details **Canonical URL:** [Macro Research for Development: An IMF-FCDO Collaboration](https://www.imf.org/en/topics/low-income-countries/macro-research-for-development) ## Other formats - [Markdown version](/en/topics/low-income-countries/macro-research-for-development/index.md) - [Structured JSON version](/en/topics/low-income-countries/macro-research-for-development/index.json) - [Bundle manifest](/en/topics/low-income-countries/macro-research-for-development/bundle-manifest.json) --- ### Overview and timeline - The IMF and the UK's Foreign, Commonwealth and Development Office (FCDO) launched the project in March 2012. - The project will run until March 2025. - The project scaled up operations in the IMF's Development Macroeconomic (DM) division of the Research Department and the Development Issues Unit (DU) of the Strategy, Policy, and Review Department using FCDO support. - Project managers: Petia Topalova and Emine Boz. - Contact: MacroResDev@imf.org - A Joint IMF–FCDO Conference is scheduled for Nov 2025. - Outputs include a "List of Outputs: Year 1 to 13 (Excel)" and an "External Review of the IMF/FCDO Collaboration." ### Strategic goals and institutional approach - The project is governed by four goals: - Generate high-quality applied research on macroeconomic issues in low-income countries; - Ensure research uptake by collaborating closely with policymakers within and outside the IMF in research design, execution, and applications; - Use the IMF's pulling power to expand the network of researchers working on macroeconomic issues in LICs; and - Achieve this as cost effectively as possible. - The project uses new resources to hire researchers, organize conferences, and work with country authorities on applying frameworks and tools. ### Research focus areas and topics - Modeling policy choices - Monetary & fiscal policies - Structural policies - Understanding macro-financial linkages - Credit cycles - Macro-prudential policies - Balancing financial deepening and financial stability - Building resilience - Natural disasters - Climate change - Migration - Conflict - Promoting structural change and institutional development - Diversification, particularly away from commodities - Structural and institutional reforms - Governance - Enhancing inclusion - Inequality - Gender ### Key analytical priorities and policy relevance - Address LIC macroeconomic challenges and vulnerabilities exacerbated by the COVID-19 crisis. - Inform policy debate and produce research tailored to the COVID-19 situation to help save lives and livelihoods in LICs. - Beyond COVID-19, priorities include: - Modernizing monetary frameworks; - Strengthening fiscal positions; - Managing natural resource wealth; - Expanding links to the global financial system; - Encouraging diversification and structural transformation to promote sustainable and inclusive growth in LICs. - To secure maximum policy impact, the team will collaborate closely with policymakers within and outside the IMF and with academics, particularly those in developing country policy institutions. --- ## Content in this bundle - **June 2019** - [June 2019 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/annual-reports/dfid-ar-june2019.pdf.md){rel="alternate" type="text/markdown"} - [June 2019 (PDF)](/-/media/files/topics/lics/macro-research-for-development/annual-reports/dfid-ar-june2019.pdf){rel="external" type="application/pdf"} - **June 2020** - [June 2020 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/annual-reports/dfid-ar-june2020.pdf.md){rel="alternate" type="text/markdown"} - [June 2020 (PDF)](/-/media/files/topics/lics/macro-research-for-development/annual-reports/dfid-ar-june2020.pdf){rel="external" type="application/pdf"} - **June 2021** - [June 2021 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/annual-reports/fcdo-ar-june2021.pdf.md){rel="alternate" type="text/markdown"} - [June 2021 (PDF)](/-/media/files/topics/lics/macro-research-for-development/annual-reports/fcdo-ar-june2021.pdf){rel="external" type="application/pdf"} - **June 2022** - [June 2022 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/annual-reports/fcdo-ar-june2022.pdf.md){rel="alternate" type="text/markdown"} - [June 2022 (PDF)](/-/media/files/topics/lics/macro-research-for-development/annual-reports/fcdo-ar-june2022.pdf){rel="external" type="application/pdf"} - **June 2023** - [June 2023 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/annual-reports/fcdo-ar-june2023.pdf.md){rel="alternate" type="text/markdown"} - [June 2023 (PDF)](/-/media/files/topics/lics/macro-research-for-development/annual-reports/fcdo-ar-june2023.pdf){rel="external" type="application/pdf"} - **June 2024** - [June 2024 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/annual-reports/fcdo-ar-june2024.pdf.md){rel="alternate" type="text/markdown"} - [June 2024 (PDF)](/-/media/files/topics/lics/macro-research-for-development/annual-reports/fcdo-ar-june2024.pdf){rel="external" type="application/pdf"} - **June 2025** - [June 2025 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/annual-reports/fcdo-ar-june2025.pdf.md){rel="alternate" type="text/markdown"} - [June 2025 (PDF)](/-/media/files/topics/lics/macro-research-for-development/annual-reports/fcdo-ar-june2025.pdf){rel="external" type="application/pdf"} - **Call to Donors to Strengthen IMF Research Capacity for Low-Income Countries** - [Call to Donors to Strengthen IMF Research Capacity for Low-Income Countries (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/call-to-donors-to-strengthen-imf-research-capacity-for-low-income-countries-nov-2025.pdf.md){rel="alternate" type="text/markdown"} - [Call to Donors to Strengthen IMF Research Capacity for Low-Income Countries (PDF)](/-/media/files/topics/lics/macro-research-for-development/call-to-donors-to-strengthen-imf-research-capacity-for-low-income-countries-nov-2025.pdf){rel="external" type="application/pdf"} - [List of Outputs: Year 1 to 13 (XLSX)](/-/media/files/topics/lics/macro-research-for-development/listofoutputs.xlsx){rel="external" type="application/vnd.openxmlformats-officedocument.spreadsheetml.sheet"} - **Dec 2018, Vol.6** - [Dec 2018, Vol.6 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/dec2018.pdf.md){rel="alternate" type="text/markdown"} - [Dec 2018, Vol.6 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/dec2018.pdf){rel="external" type="application/pdf"} - **Dec 2019, Vol.7** - [Dec 2019, Vol.7 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/dec2019.pdf.md){rel="alternate" type="text/markdown"} - [Dec 2019, Vol.7 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/dec2019.pdf){rel="external" type="application/pdf"} - **Dec 2020, Vol.8** - [Dec 2020, Vol.8 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/dec2020.pdf.md){rel="alternate" type="text/markdown"} - [Dec 2020, Vol.8 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/dec2020.pdf){rel="external" type="application/pdf"} - **Dec 2021, Vol.9** - [Dec 2021, Vol.9 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/dec2021.pdf.md){rel="alternate" type="text/markdown"} - [Dec 2021, Vol.9 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/dec2021.pdf){rel="external" type="application/pdf"} - **Dec 2022, Vol.10** - [Dec 2022, Vol.10 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/dec2022.pdf.md){rel="alternate" type="text/markdown"} - [Dec 2022, Vol.10 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/dec2022.pdf){rel="external" type="application/pdf"} - **Dec 2023, Vol.11** - [Dec 2023, Vol.11 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/dec2023.pdf.md){rel="alternate" type="text/markdown"} - [Dec 2023, Vol.11 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/dec2023.pdf){rel="external" type="application/pdf"} - **Dec 2024, Vol.12** - [Dec 2024, Vol.12 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/dec2024.pdf.md){rel="alternate" type="text/markdown"} - [Dec 2024, Vol.12 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/dec2024.pdf){rel="external" type="application/pdf"} - **Dec 2025, Vol.13** - [Dec 2025, Vol.13 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/dec2025.pdf.md){rel="alternate" type="text/markdown"} - [Dec 2025, Vol.13 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/dec2025.pdf){rel="external" type="application/pdf"} - **Jun 2018, Vol.6** - [Jun 2018, Vol.6 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/jun2018.pdf.md){rel="alternate" type="text/markdown"} - [Jun 2018, Vol.6 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/jun2018.pdf){rel="external" type="application/pdf"} - **Jun 2019, Vol.7** - [Jun 2019, Vol.7 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/jun2019.pdf.md){rel="alternate" type="text/markdown"} - [Jun 2019, Vol.7 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/jun2019.pdf){rel="external" type="application/pdf"} - **Jun 2020, Vol.8** - [Jun 2020, Vol.8 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/jun2020.pdf.md){rel="alternate" type="text/markdown"} - [Jun 2020, Vol.8 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/jun2020.pdf){rel="external" type="application/pdf"} - **Jun 2021, Vol.9** - [Jun 2021, Vol.9 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/jun2021.pdf.md){rel="alternate" type="text/markdown"} - [Jun 2021, Vol.9 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/jun2021.pdf){rel="external" type="application/pdf"} - **Jun 2022, Vol.10** - [Jun 2022, Vol.10 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/jun2022.pdf.md){rel="alternate" type="text/markdown"} - [Jun 2022, Vol.10 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/jun2022.pdf){rel="external" type="application/pdf"} - **Jun 2023, Vol.11** - [Jun 2023, Vol.11 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/jun2023.pdf.md){rel="alternate" type="text/markdown"} - [Jun 2023, Vol.11 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/jun2023.pdf){rel="external" type="application/pdf"} - **Jun 2024, Vol.12** - [Jun 2024, Vol.12 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/jun2024.pdf.md){rel="alternate" type="text/markdown"} - [Jun 2024, Vol.12 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/jun2024.pdf){rel="external" type="application/pdf"} - [Jun 2025, Vol.13 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/jun2025.pdf){rel="external" type="application/pdf"} - **Mar 2018, Vol.6** - [Mar 2018, Vol.6 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2018.pdf.md){rel="alternate" type="text/markdown"} - [Mar 2018, Vol.6 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2018.pdf){rel="external" type="application/pdf"} - **Mar 2019, Vol.7** - [Mar 2019, Vol.7 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2019.pdf.md){rel="alternate" type="text/markdown"} - [Mar 2019, Vol.7 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2019.pdf){rel="external" type="application/pdf"} - **Mar 2020, Vol.8** - [Mar 2020, Vol.8 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2020.pdf.md){rel="alternate" type="text/markdown"} - [Mar 2020, Vol.8 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2020.pdf){rel="external" type="application/pdf"} - **Mar 2021, Vol.9** - [Mar 2021, Vol.9 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2021.pdf.md){rel="alternate" type="text/markdown"} - [Mar 2021, Vol.9 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2021.pdf){rel="external" type="application/pdf"} - **Mar 2022, Vol.10** - [Mar 2022, Vol.10 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2022.pdf.md){rel="alternate" type="text/markdown"} - [Mar 2022, Vol.10 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2022.pdf){rel="external" type="application/pdf"} - **Mar 2023, Vol.11** - [Mar 2023, Vol.11 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2023.pdf.md){rel="alternate" type="text/markdown"} - [Mar 2023, Vol.11 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2023.pdf){rel="external" type="application/pdf"} - [Mar 2024, Vol.12 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2024.pdf){rel="external" type="application/pdf"} - **Mar 2025, Vol.13** - [Mar 2025, Vol.13 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2025.pdf.md){rel="alternate" type="text/markdown"} - [Mar 2025, Vol.13 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2025.pdf){rel="external" type="application/pdf"} - **Mar 2026, Vol.14** - [Mar 2026, Vol.14 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2026.pdf.md){rel="alternate" type="text/markdown"} - [Mar 2026, Vol.14 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/mar2026.pdf){rel="external" type="application/pdf"} - **Sep 2018, Vol.6** - [Sep 2018, Vol.6 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/sep2018.pdf.md){rel="alternate" type="text/markdown"} - [Sep 2018, Vol.6 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/sep2018.pdf){rel="external" type="application/pdf"} - **Sep 2019, Vol.7** - [Sep 2019, Vol.7 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/sep2019.pdf.md){rel="alternate" type="text/markdown"} - [Sep 2019, Vol.7 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/sep2019.pdf){rel="external" type="application/pdf"} - **Sep 2020, Vol.8** - [Sep 2020, Vol.8 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/sep2020.pdf.md){rel="alternate" type="text/markdown"} - [Sep 2020, Vol.8 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/sep2020.pdf){rel="external" type="application/pdf"} - **Sep 2021, Vol.9** - [Sep 2021, Vol.9 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/sep2021.pdf.md){rel="alternate" type="text/markdown"} - [Sep 2021, Vol.9 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/sep2021.pdf){rel="external" type="application/pdf"} - **Sep 2022, Vol.10** - [Sep 2022, Vol.10 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/sep2022.pdf.md){rel="alternate" type="text/markdown"} - [Sep 2022, Vol.10 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/sep2022.pdf){rel="external" type="application/pdf"} - **Sep 2023, Vol.11** - [Sep 2023, Vol.11 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/sep2023.pdf.md){rel="alternate" type="text/markdown"} - [Sep 2023, Vol.11 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/sep2023.pdf){rel="external" type="application/pdf"} - **Sep 2024, Vol.12** - [Sep 2024, Vol.12 (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/newsletters/sep2024.pdf.md){rel="alternate" type="text/markdown"} - [Sep 2024, Vol.12 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/sep2024.pdf){rel="external" type="application/pdf"} - [Sep 2025, Vol.13 (PDF)](/-/media/files/topics/lics/macro-research-for-development/newsletters/sep2025.pdf){rel="external" type="application/pdf"} - **Devarajan–O'Connell final report on the MRLIC project** - [Devarajan–O'Connell final report on the MRLIC project (Markdown version)](/-/media/files/topics/lics/macro-research-for-development/related-links/devarajan-oconnell-final-report-on-mrlic-project-final.pdf.md){rel="alternate" type="text/markdown"} - [Devarajan–O'Connell final report on the MRLIC project (PDF)](/-/media/files/topics/lics/macro-research-for-development/related-links/devarajan-oconnell-final-report-on-mrlic-project-final.pdf){rel="external" type="application/pdf"} --- ## References - [Modelling policy choices](https://www.imf.org/en/topics/low-income-countries/macro-research-for-development/modeling-policy-choices) - [Understanding macro-financial linkages](https://www.imf.org/en/topics/low-income-countries/macro-research-for-development/understanding-macro-financial-linkages) - [Building resilience](https://www.imf.org/en/topics/low-income-countries/macro-research-for-development/building-resilience) - [Promoting structural change and institutional development](https://www.imf.org/en/topics/low-income-countries/macro-research-for-development/promoting-structural-change-institutional-development) - [Enhancing inclusion](https://www.imf.org/en/topics/low-income-countries/macro-research-for-development/enhancing-inclusion) - [Advances Made in Five Key Areas Through a FCDO-IMF Collaboration](https://www.imf.org/en/Publications/Departmental-Papers-Policy-Papers/Issues/2021/03/24/Macroeconomic-Research-in-Low-income-Countries-Advances-Made-in-Five-Key-Areas-Through-a-50010) - [Joint IMF–FCDO Conference (Nov 2025)](https://www.imf.org/en/news/sprolls/macro-research-development) _Source: https://www.imf.org/en/topics/low-income-countries/macro-research-for-development_