Staff-Monitored Programs—Updated Operational Guidance Note

The note updates and replaces the prior guidance on SMPs, provided in 2003, incorporating changes to the Fund’s lending strategy, and clarifies some operational issues to better guide staff on the use and design of SMPs, while safeguarding even-handed application.
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Volume/Issue: Volume 2022 Issue 048
Publication date: October 2022
ISBN: 9798400223358
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Topics covered in this book

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Exports and Imports , Finance , Money and Monetary Policy , Public Policy - Social Services and Welfare , Political Economy , transparency policy , fund staff , fund financial support , SMP Sr , strategy Policy , SMP request , Debt sustainability , Poverty reduction strategy , Emergency assistance , Debt sustainability analysis , Liquidity

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Summary

The note updates and replaces the prior guidance on SMPs, provided in 2003, incorporating changes to the Fund’s lending strategy, and clarifies some operational issues to better guide staff on the use and design of SMPs, while safeguarding even-handed application. Noteworthy changes include clarity on the role of SMPs, specifying the start and end dates of SMPs, clarifying the expected length of SMPs and track record periods, and extensions of SMPs. While many policies are clarified, the principle of flexibility is maintained.

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