Reform of the Fund's Policy on Poverty Reduction Strategies in Fund Engagement with Low-Income Countries

Reform of the Fund's Policy on Poverty Reduction Strategies in Fund Engagement with Low-Income Countries - Proposals

May 27, 2015

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Reform of the Fund's Policy on Poverty Reduction Strategies in Fund Engagement with Low-Income Countries - Proposals, (USA: International Monetary Fund, 0) accessed September 18, 2024

Summary

Poverty reduction strategies (PRS) are central to Fund-supported economic and financial programs in low-income countries (LICs). The joint IMF-World Bank’s Heavily Indebted Poor Country (HIPC) Initiative introduced the PRS approach and established documentation requirements centered on the Poverty Reduction Strategy Paper (PRSP). The PRS approach has also been a cornerstone for the Fund’s concessional financing, currently the Extended Credit Facility (ECF), and has been extended to the Policy Support Instruments (PSI), the non-financing instrument for LICs, with PRS documentation serving as the operational framework for development of strategies to promote growth and reduce poverty under Fund-supported programs.

Subject: Collaboration with World Bank, Development, Executive Board decisions, Extended Credit Facility, Fund role, Low-income developing countries, Policy Support Instrument, Poverty reduction strategy, Publications, Transparency

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