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INTERNATIONAL MONETARY FUND

Conclusions of the Task Force on Prolonged Use of Fund Resources

Approved by Timothy F. Geithner

February 4, 2003

Contents

  • I. Introduction and Summary

  • II. The Context for the Recommendations: Experience with Prolonged Use of Fund Resources

  • III. Remedial Measures

  • IV. Preventive Measures—Program Design, Conditionality, and Ownership

  • V. Strengthening Fund Surveillance

  • VI. Strengthening "Due Diligence" for Prolonged Users

  • VII. Alternative "Signaling" Mechanisms

  • VIII. Strengthening Political Information and Analysis

  • IX. Human Resource Management

  • X. Conclusion

  • Tables

  • Table l.Countries Identified by the IEO as Prolonged Users of Fund Resources

  • Table 2. Prolonged Users of Fund Resources for the Period 1993-2002

  • Table 3. Countries With Two Completed or Expired Multi-Year Arrangements Under the Fund's Concessional Facilities, 1990-2002

  • Appendix

  • Appendix I Recommendations of the IEO Evaluation Report on Prolonged Use of Fund Resources

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Conclusions of the Task Force on Prolonged Use of Fund Resources - Modifications in Light of Initial Executive Board Discussion
Author:
International Monetary Fund