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International Monetary Fund. External Relations Dept.
This paper describes the IMF’s activities in developing countries. The paper highlights that there are several instances in which the Articles of Agreement require a member to consult on its policies with the IMF. Other actions by a member concerning the exchange rate of its currency, or its exchange regime generally require the IMF’s prior approval or concurrence. Under the IMF’s policy, a member also discusses with the IMF changes in its financial programs in support of which the use of the IMF’s resources has been pledged.
International Monetary Fund
This supplement provides background information on various aspects of capacity development (CD) for the main Board paper, The Fund’s Capacity Development Strategy—Better Policies through Stronger Institutions. It is divided into nine notes or sections, each focused on a different topic covered in the main paper. Section A explores the importance of institutions for growth, and the role the Fund can play in building institutions. Section B presents stylized facts about how the landscape for CD has changed since the late 1990s. Section C discusses the difficulties of analyzing CD data because of measurement issues. Section D provides a longer-term perspective on how Fund CD has responded to member needs. Section E contains information on previous efforts to prioritize CD, assesses Regional Strategy Notes (RSNs) and country pages, and suggests ways to strengthen RSNs, including by using the Fund’s surveillance products. Section F compares the technical assistance (TA) funding model proposed in the 2011
International Monetary Fund. External Relations Dept.

Over the next 25 years, vast numbers of workers in the developing countries will need to find jobs outside agriculture, which is now their main source of employment. Although many of these countries are developing a viable and growing industrial sector, employment in industry has not expanded correspondingly. This article examines why this has happened and discusses the Bank’s attempts to increase employment opportunities by encouraging the development of small local enterprises, as part of its program to reach the absolute poor.