Proposed Reforms to the Exogenous Shocks Facility
July 25, 2008
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The review of the ESF is being accelerated in light of experience and worsening global economic conditions, in particular the surge in food and fuel prices. Despite having become effective in 2006, the ESF has yet to be used. Recent discussions with creditors, donors, potential users, and outside observers have highlighted a number of ways to enhance its effectiveness.
Subject: Conditionality, Exogenous Shocks Facility, External shocks, Financial crisis, Fund arrangements, Fund facilities, Poverty Reduction and Growth Facility, Use of Fund Resources
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