This paper aims to assess the economic impact of the IMF’s support through its facilities for low-income countries. It … relies on two complementary econometric analyses: the first investigates the longer-term impact of IMF engagement … role of IMF shock-related financing—through augmentations of Extended Credit Facility arrangements and short-term and …

of the coinsurance arrangement is examined under different loan contracts offered by the IMF. The analysis suggests that …, if the IMF’s objective is to safeguard its resources and be concerned about the welfare of the borrower, an ex ante loan …

Understanding of the domestic political environment is key to building broad country ownership and the successful …, we analyze the determinants and welfare impacts of conditional and unconditional assistance. While conditionality may …

contagion through its lending with conditionality. We characterize the IMF's optimal lending decision in mitigating the loss in … a lower IMF rate. Highly indebted countries hit by large negative shocks to output will default. The resulting reduction … further rounds of defaults. In this environment the IMF can limit default and internalize the externality generated by …

IMF lending is generally conditional on specified policies and outcomes. These conditions usually are negotiated … poor implementation. This paper reviews the theoretical basis for the importance of ownership, summarizes what is known …

IMF lending is conditional on a country's commitment to carry out an agreed program of economic policies. Unless that … the country's interests and circumstances into account and when conditionality results from a genuine process of … interaction between the IMF and the borrower. …

Drawing on recent research, this study elaborates on the role of the IMF in support of its lowincome members, pointing … financial institution, an information provider, and a commitment device. The IMF assists low-income members through a range of … building. The study reviews the features of IMF policies towards its low-income membership and points to the main challenges to …