Evaluation of Prolonged Use of IMF Resources

Full Text of the Main Report

French

Executive Summary

English

Foreword
1. Introduction
2. What Is Prolonged Use and How Widespread Is It?
3. The Evolution of the IMF’s Policies with Respect to Prolonged Use of Its Resources
4. Characteristics of Prolonged Users
5. Prolonged Use and Effectiveness of IMF-Supported Programs
6. Influence of IMF Governance and Other Institutional Factors on Prolonged Use
7. The Implications of Prolonged Use for the Member Country and the IMF
8. Conclusions and Recommendations
9. Pakistan
10. Philippines
11. Senegal
12. Evidence from Two Countries That “Graduated” from Prolonged Use
Statement by the Managing Director on the IEO Evaluation
Staff Response to the IEO Evaluation
IEO Response to the Statement by the Managing Director and Staff Response
Summing Up of the Executive Board Discussion
Full Text of the Annexes
1. Possible Definitions of Prolonged Use
2. Background Material on the Evolution of IMF Policies on Prolonged Use
3. Characteristics of Prolonged Users: Further Details on the Evidence
4. Effects of Prolonged Use on Growth: Details of the Econometric Results
5. Questionnaire Sent to Authorities of Prolonged User Countries
6. Data on Staff Inputs and Staff Turnover in Prolonged and "Temporary" Users
Political Science Tools for Assessing Feasibility and Sustainability of Reforms
Authors: Andreas Wimmer with Indra de Soysa and Christian Wagner
Prolonged Use of IMF Resources: Revisiting the 2002 IEO Evaluation