The IMF's Poverty Reduction and Growth Facility (PRGF), A Factsheet

Poverty Reduction Strategy Papers (PRSP)

Aligning the Poverty Reduction and Growth Facility (PRGF) and the Poverty Reduction Strategy Paper (PRSP) Approach: Issues and Options

Prepared by the Policy Development and Review Department
In consultation with other Departments

April 25, 2003

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Executive Summary
I. Introduction
II. Program Content and Design
Realistic and Better Substantiated Growth Projections
  B. Aligning Macroeconomic Frameworks in PRSPs, National Budgets, and PRGF-Supported Programs
  C. Accommodating Higher Aid Flows
  D. Improving Public Expenditure Policy and Management
  E. Poverty and Social Impact Analysis of Key Measures in PRGF-Supported Programs
  F. Forward-Looking Macroeconomic Analytical Agenda
III. PRGF Process Change—Alignment with the PRSP Process and Enhanced Donor Coordination
  A. Linking the PRSP and National Budget Cycle
  B. Enhanced Donor Coordination and the PRSP Approach
  C. PRSP Alignment and Donor Coordination: Implications for the PRGF
  D. Capacity-Building Efforts
IV. Adaptation of PRGF Documentation
  A. The Relationship of the PRGF-Supported Program to the PRSP— Program Design and Policy Choices
  B. Rationalizing PRGF Reporting Requirements
V. Next Steps
Box 1. Defining the Concept of Alignment
Box 2. The Fund's Work-Program on Low-Income Countries
Box 3. Evidence on the Bias in Short-Term Macroeconomic Forecasts
Box 4. Country Case Studies on Poverty and Social Impact Analysis
Box 5. International Initiatives for Donor Coordination and Harmonization
Box 6. Example of Synchronized Cycle for Budget, PRSP Review, and Budget Support
Box 7. The Role of the Resident Representative in PRSP Countries
Box 8. Fund Involvement in the PRSP Participatory Processes