Conditionality in fund-supported programs: overview
2001
This article briefly discusses the IMF's tool to reform the international financial system, conditionality.The article emphasises the importance of focusing conditionality such that it concentrates on national ownership. It subsequently discusses experiences with conditionality:it explores the emphasis on facilitating economic growth mechanisms within developing countriesit explores the Fund's desire to deal with undeveloped countries through structural reformsThe article:stresses the importance of structural reforms and structural benchmarking to evaluate performance by individual nationsdescribes the lack of clarity relating to the boundaries of conditionalityquestions whether the increasing structural content of IMF's operations is drawing it away from its focal purpose of facilitating financial stabilityThe article concludes by discussing how conditionality can be streamlined. This includes:reassessing the scope of conditionalitychoosing the appropriate degree of detail of conditionalityclarifying the boundaries between what is covered by conditionality and what is not [author]
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