Front Matter

Front Matter

Author(s):
Benedict Clements, Gabriela Inchauste, Nita Thacker, Thomas Dorsey, Shamsuddin Tareq, Emanuele Baldacci, Sanjeev Gupta, and Mark Plant
Published Date:
September 2002
    Share
    • ShareShare
    Show Summary Details

    © 2002 International Monetary Fund

    Production: IMF Graphics Section

    Typesetting: Alicia Etchebarne-Bourdin

    Figures: Lai Oy Louie

    Cataloging-in-Publication Data

    Is the PRGF living up to expectations?: an assessment of program design/Sanjeev Gupta . . . [et al.]—Washington, D.C.: International Monetary Fund, 2002.

    • p. cm.—(Occasional paper); 216

    • ISBN 1-58906-112-8

    1. International Monetary Fund—Developing countries. 2. Developing countries—Economic policy. I. Gupta, Sanjeev. II. International Monetary Fund. Ill, Occasional paper (International Monetary Fund); no. 216

    HC60.18 2002

    Price: US$25.00

    (US$17.50 to full-time faculty members and students at universities and colleges)

    Please send orders to:

    International Monetary Fund, Publication Services

    700 19th Street, N.W., Washington, D.C. 20431, U.S.A.

    Tel: (202) 623-7430 Telefax: (202) 623-7201

    E-mail; publications@imf.org

    Internet: http://www.imf.org

    Contents

    The following symbols have been used throughout this paper:

    • …to indicate that data are not available;

    • — to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;

    • – between years or months (e.g., 2001–02 or January-June) to indicate the years or months covered, including the beginning and ending years or months;

    • / between years (e.g., 2001/02) to indicate a fiscal (financial) year.

    “n.a.” means not applicable.

    “Billion” means a thousand million.

    Minor discrepancies between constituent figures and totals are due to rounding.

    The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.

    Preface

    The September 1999 Annual Meetings resulted in a clear mandate for the International Monetary Fund to integrate the objectives of poverty reduction and growth more fully into its operations for the poorest countries and to base these operations on national poverty reduction strategies prepared by the country with broad participation of key stakeholders. Reflecting this new approach, the IMF established the Poverty Reduction and Growth Facility (PRGF) to replace its previous concessional assistance instrument, the Enhanced Structural Adjustment Facility.

    At the time the PRGF was established, the Executive Board also called for a review after two years of the initial experience with the new facility. This review was to include feedback and input from officials and others engaged in this work in the field as well as analyses by IMF staff. The review was to take place in conjunction with a parallel joint World Bank-IMF review of the initial experience with the overall Poverty Reduction Strategy Paper (PRSP) approach. This paper synthesizes two papers prepared by IMF staff—Review of the Poverty Reduction and Growth Facility: Issues and Options (February 14. 2002) and Review of the Key Features of the Poverty Reduction and Growth Facility: Staff Analyses (March 15, 2002)—that focus on PRGF-supported programs and their links to, or relationship with, the broader poverty reduction strategies set out in the PRSPs and Interim PRSPs.

    This paper draws on a broad range of internal and external views gathered during the period from July 2001 to February 2002. These include discussions at various regional forums on the PRSP approach during 2001, in which a majority of PRGF countries participated; meetings held with donor government officials and representatives of civil society organizations, including representatives of the donor governments at the Organization for Economic Cooperation and Development’s Development Assistance Committee; and the deliberations at the three main sessions on the PRGF at the recently concluded World Bank—IMF International Conference on Poverty Reduction Strategies (January 2002). In addition, this paper takes into account the expressed views of key officials—in member countries with PRGF arrangements covered by the review—in response to a questionnaire structured around the key features of the PRGF (see Appendix II).

    A number of IMF staff contributed to the reviews on which this paper is based. Within the Fiscal Affairs Department (FAD), Shamit Chakravarti, Hamid Davoodi, Stefano Fassina, Kevin Fletcher, Eva Jenkner, Hong-Sang Jung, Ali Mansoor, and Erwin Tiongson provided contributions to the paper. Within the Policy Development and Review Department (PDR), contributions were made by Pierre Beynet, Sonia Brunschwig, Andrew Gilmour, Hans Peter Lankes, Lucas Moers, Luzmaria Monasi, Lynge Nielsen, and Laure Redifer. Helen Chin of the External Relations Department (EXR) edited the manuscript and coordinated its production and publication.

    List of Abbreviations

    CSO

    Civil Society Organization

    ESAF

    Enhanced Structural Adjustment Facility

    GFS

    Government Finance Statistics

    HIPC

    Heavily Indebted Poor Country

    I-PRSP

    Interim Poverty Reduction Strategy Paper

    JSA

    Joint Staff Assessment

    LOI

    Letter of Intent

    MEFP

    Memoranda of Economic and Financial Policies

    NGO

    Nongovernmental Organization

    PEM

    Public Expenditure Management

    PRGF

    Poverty Reduction and Growth Facility

    PRSP

    Poverty Reduction Strategy Paper

    PSIA

    Poverty and Social Impact Analysis

    ROSC

    Report on the Observance of Standards and Codes

    TA

    Technical Assistance

    VAT

    Value-Added Tax

      You are not logged in and do not have access to this content. Please login or, to subscribe to IMF eLibrary, please click here

      Other Resources Citing This Publication