In reviewing the implementation of the key features, the analysis focuses on the extent to which program design in PRGF-supported programs has been consistent with these goals. Because of the early stage of the transformation from the ESAF, it is not yet possible to consider questions about how the PRGF has affected poverty and growth. The process of transformation from the ESAF to the PRGF is ongoing, and in many respects it is still at an early stage—a large majority of PRGF-supported programs in place are either new PRGF-supported arrangements that have not yet reached their first review or ESAF-supported arrangements that have been transformed into PRGF-supported arrangements in midstream.1 Nevertheless, an attempt has been made to evaluate outcomes in relation to objectives wherever data were available (mostly in the fiscal area).