Implementation Plan in Response to The Board - Endorsed Recommendations from The IEO Evaluation Report on Growth and Adjustment in IMF - Supported Programs

Abstract

This management implementation plan (MIP) proposes actions in response to the Independent Evaluation Office (IEO)’s report on growth and adjustment in IMF supported programs. Overall, the IEO report pointed to the lack of evidence on a consistent bias toward excessive austerity and the findings that programs have yielded growth benefits relative to a counterfactual of no Fund engagement. The broad consistency and complementarity of the overall assessment with the IMF’s 2018 Review of Program Design and Conditionality were also acknowledged. Building on the 2018 Review of Program Design and Conditionality and the 2018 Review of the Fund’s Capacity Development Strategy, the proposed MIP actions aim at: