International Monetary Fund. External Relations Dept.
The IMF’s traditional lending was designed to help countries weather short-term balance of payments crises. The severity of the problems faced by poor and often highly indebted countries in the 1980s, however, prompted the IMF to create longer-term and more concessional financing arrangements. The Structural Adjustment Facility (SAF) established in 1986 and the Enhanced Structural Adjustment Facility (ESAF) in 1987 were designed to help these countries undertake extensive reforms of their economies as well as macroeconomic adjustment.
This paper seeks to clarify what factors contributed to the macroeconomic gains and losses from privatization in transition economies over the past decade. In contrast to the original “Washington Consensus,” which had a tendency to equate change-of-title with privatization, we find that economic performance gains come only from “deep” privatization, that is, when change-of-title reforms occur once key institutional and “agency”-related reforms have exceeded certain threshold levels. We also find that as a result of different initial conditions the economic performance responses of countries to the same policies are different.
This Joint Staff Advisory Note discusses the Poverty Reduction Strategy Paper (PRSP) Second Progress Report for the Republic of Tajikistan. The progress report presents a comprehensive assessment of the nature and dynamics of poverty from various sources and perspectives, and recognizes the challenges ahead for continued progress in reducing the number of people living in poverty. The report fully acknowledges that the poor quality, reliability, and timeliness of statistics for monitoring progress in poverty reduction are owed to the lack of capacity to collect and analyze data and to the weak coordination between state agencies.
This Second Progress Report on Tajikistan’s Poverty Reduction Strategy Paper (PRSP) discusses key developments in the status and dynamics of poverty-related indicators in the country during 2004. Although economic growth has generated significant reductions in poverty rates in the past years, the report concludes that people’s livelihoods have not changed drastically. Income poverty remains high. People’s access to energy, water, communications, education, and health services remains highly problematic. This report also reviews the government’s macroeconomic management performance and discusses institutional shortfalls affecting the poverty reduction effort.