Graduation from the prolonged use of IMF resources: an empirical analysis

Harvey Baldovino, Graham Bird and Dane Rowlands

Journal of Economic Policy Reform, 2025, vol. 28, issue 4, 413-433

Abstract: The prolonged use of resources by some members of the International Monetary Fund has often been presented as being inconsistent with the institution’s purpose of providing only temporary assistance for balance of payments difficulties. In recent years, some formerly prolonged users identified by the Fund’s Independent Evaluation Office have graduated away from using IMF resources. We use Qualitative Comparative Analysis (QCA) to identify the combination of factors that characterize graduating countries. Our results suggest that income status, export growth and effective governance are keys to graduation. Avoiding large fiscal deficits and excessive debt accumulation may also help but are not necessary conditions for graduation.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:taf:jpolrf:v:28:y:2025:i:4:p:413-433

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DOI: 10.1080/17487870.2025.2541594

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