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An Analysis of IMF Conditionality

By Ariel Buira | February 1, 2003

Paper prepared for the XVI Technical Group Meeting of the Intergovernmental Group of 24, Port of Spain, Trinidad and Tobago February 13-14, 2003

From the Intro: Conditionality is perhaps the most controversial aspect of the IMF’s policies. Among the traditional criticisms of Fund conditionality are that it is short-run oriented, too focused on demand management and does not pay adequate attention to its impact on growth, and the effects of programs on social spending and on income distribution. In particular, fiscal and monetary policies, the core of programs, are seen as too restrictive, having a strong deflationary impact, to the point where the essence of the correction of the external payments imbalance came from deflation.

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