Policy Papers

Revised Operational Guidance to IMF Staff on the 2002 Conditionality Guidelines

Publication Date:

July 23, 2014

Electronic Access:

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Summary:

This note aims to provide broad guidance on the operational implications of the 2002 Conditionality Guidelines and the key principles underlying the design of conditionality in Fund-supported programs. These five inter-related principles are national ownership of programs, parsimony in program-related conditions, tailoring of programs to country circumstances, effective coordination with other multilateral institutions, and clarity in the specification of conditions. The operational issues covered are grouped into three areas: program discussions with the authorities and program design, the design of conditionality, and the presentation of conditionality in Board papers.

The note is not intended as a comprehensive guide, but rather as an aid to the implementation of the guidelines and the underlying principles. It should be used in conjunction with other relevant operational guidance notes, such as those on jobs and growth issues and debt sustainability analysis. It will continue to be revised on a periodic basis, especially following regular reviews of the conditionality guidelines.

Series:

Policy Papers

Subject:

Collaboration with other international organizations Collaboration with World Bank Conditionality Conditionality guidelines Fund-supported adjustment programs