Review of the Policy on Staff-Monitored Program With Executive Board Involvement

International Monetary Fund

No 2024/005, IMF Policy Papers from International Monetary Fund

Abstract: This paper reviews the policy on Staff-Monitored Program with Executive Board Involvement (PMB). The PMB plays an important niche role in the Fund’s toolkit in supporting members in circumscribed circumstances, while not supplanting the Staff-Monitored Programs (SMPs) as the primary tool for building or rebuilding a track record towards a Fund arrangement that supports a UCT-quality program. Experience with the PMB is limited to three country cases over the past sixteen months. Further experience would be needed to draw more definitive conclusions in terms of the usefulness of the PMB vis-à-vis alternative instruments and a more parsimonious Fund toolkit. In this context, the PMB is kept in the toolkit, and it will be expected to be reviewed in three years.

Keywords: Concessional external borrowing; Debt sustainability; External Debt; Monetary policy; Political economy; PMB approval; PMB policy; use criteria; IMF toolkit; transparency policy; Credit; Debt relief; Debt restructuring; Global (search for similar items in EconPapers)
Pages: 16
Date: 2024-02-20
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=544919 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfpps:2024/005

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Policy Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().