Cover The IMF’s Exceptional Access Policy
The IMF’s Exceptional Access Policy
Evaluation Report Dec 2024
Download PDF (3.3 MB) Download Epub

Abstract

The evaluation assesses the EAP’s rationale, evolution, and implementation during the period since its adoption in 2002. It assesses whether the EAP has fulfilled the objectives that guided its creation, namely, shaping members’ and market expectations, providing clearer benchmarks for Board decisions on program design and exceptional access, safeguarding the Fund’s resources, and helping to ensure uniformity of treatment of members. The evaluation draws on background papers comprising both thematic and country studies that draw on experience with the 38 exceptional access programs completed through mid-2023. The thematic papers analyze the rationale and evolution of the EAP as well as the three building blocks of the policy: the exceptional access criteria, enhanced Board decision-making procedures, and ex post evaluations. The country papers comprise both cross-country studies and country-specific studies of the completed programs with Argentina (2018), Ecuador (2020), and Egypt (2020).

Buy Book in Print
Author:
Vivek B Arora
Search for other papers by Vivek B Arora in
Current site
Google Scholar
PubMed Close
,
Miguel de Las Casas
Search for other papers by Miguel de Las Casas in
Current site
Google Scholar
PubMed Close
,
Yasemin Bal Gündüz
Search for other papers by Yasemin Bal Gündüz in
Current site
Google Scholar
PubMed Close
,
Jérémie Cohen-Setton
Search for other papers by Jérémie Cohen-Setton in
Current site
Google Scholar
PubMed Close
,
Kelsie J Gentle
Search for other papers by Kelsie J Gentle in
Current site
Google Scholar
PubMed Close
,
Jiakun Li
Search for other papers by Jiakun Li in
Current site
Google Scholar
PubMed Close
,
Carmen Rollins
Search for other papers by Carmen Rollins in
Current site
Google Scholar
PubMed Close
, and
Sandra Saveikyte
Search for other papers by Sandra Saveikyte in
Current site
Google Scholar
PubMed Close
Series:
Independent Evaluation Office Reports
Publisher:
International Monetary Fund
Language:
English
Publication Date:
12 Dec 2024
DOI:
https://doi.org/10.5089/9798400294129.017
ISBN:
9798400294129
ISSN:
2617-670X
Pages:
87
Keywords:
Exceptional access; IMF lending; safeguarding Fund resources; program design; uniformity of treatment; risk management; program success; EA program; surcharge rate; ToC of an Na arrangement; detailed Theory of Change; Debt sustainability; Reputational risk; Balance of payments need; Capital account crisis; Global
  • Collapse
  • Expand