IMF programmes in developing countries: design and impact

Abstract

Traces the extent to which the Fund has changed in recent years and re-examines the impact of the adjustment programmes which it sponsors on the basis of up-to-date information. Continuities and changes in IMF programme design are examined between 1982 and 1992, with the major part of the text focusing on programme effects. This section traces methodological issues, surveys the existing literature, and provides a survey of country experiences with IMF programmes. The concluding section revisits critiques from both left and right and suggests reforms. The author stresses the need for realism in expectations of Fund achievements, points out the often under-rated role of natural disaters in programme adoption, suggests that in the past evaluations have been carried out in too short a time-frame, and notes programme association with both strengthening balance of payments and with reduced investment. -M.Amos