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Staff-Monitored Programs—Updated Operational Guidance Note
Author:
International Monetary Fund. Strategy, Policy, & Review Department
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International Monetary Fund. Finance Dept.
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International Monetary Fund. Legal Dept.
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Series:
Policy Papers
Volume/Issue:
Volume 2022: Issue 048
Language:
English
Publication Date:
21 Oct 2022
DOI:
https://doi.org/10.5089/9798400223242.007
ISBN:
9798400223242
ISSN:
2663-3493
Pages:
22
Keywords:
transparency policy; fund staff; fund financial support; SMP Sr; strategy Policy; SMP request; Debt sustainability; Poverty reduction strategy; Emergency assistance; Debt sustainability analysis; Liquidity
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The note updates and replaces the prior guidance on SMPs, provided in 2003, incorporating changes to the Fund’s lending strategy, and clarifies some operational issues to better guide staff on the use and design of SMPs, while safeguarding even-handed application. Noteworthy changes include clarity on the role of SMPs, specifying the start and end dates of SMPs, clarifying the expected length of SMPs and track record periods, and extensions of SMPs. While many policies are clarified, the principle of flexibility is maintained.
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Cover Policy Papers
Policy Papers
ISSN:
2663-3493
Publisher:
International Monetary Fund
Volume 2022: Issue 048