[OPE-L] IMF's role in sub-Saharan Africa

From: Jurriaan Bendien (adsl675281@TISCALI.NL)
Date: Sun Apr 08 2007 - 08:15:34 EDT

Internal Audit Questions IMF's Role in Africa
Emad Mekay

WASHINGTON, Mar 13 (IPS) - An independent review of the International
Monetary Fund's operations in Africa says the lender's work is confused,
vague, lacks transparency and suffers from a large gap between rhetoric and

"The overarching message of the evaluation is that the Fund should be
clearer and more candid about what it has undertaken to do, and more
assiduous, transparent, and accountable in implementing its undertakings,"
said the report.

The report, issued late Monday, is aimed at helping the IMF improve its
management of the programme under which it gives near obligatory policy
advice in return for loans. It was conducted by the Independent Evaluation
Office (IEO), the IMF's own monitor.

The 130-page report examines the IMF's role and performance in the
determination and use of aid to 29 low-income countries in Sub-Saharan
Africa (SSA) that have been under the Poverty Reduction and Growth Facility
(PRGF), the IMF's low-interest lending programme for poor countries, between

The report notes that while this period saw improved macroeconomic
performance in a number of SSA countries, with higher growth rates and
falling inflation, there was almost no change in the share of the population
living in poverty. (...)


This archive was generated by hypermail 2.1.5 : Mon Apr 30 2007 - 00:00:16 EDT