with conditionality and loan size matter …

, Czechoslovakia, Bulgaria and Romania. These comprise the initial price-overshooting and the output collapse, fiscal sustainability as …

Structural conditionality of IMF-supported programs is designed to support structural reforms by countries borrowing … from the IMF. Taking stock of program conditions and their implementation, this paper finds that conditionality focuses on … elusive. To ensure countries gain most from IMF conditionality, the paper outlines an evaluation matrix for prioritizing and …

Rapid credit growth in Bulgaria, Romania, and Ukraine has been driven by successful macroeconomic stabilization, robust … been excessive, as evidenced by widening current account deficits in Bulgaria and Romania, and prudential concerns in … Ukraine. Policy responses have included attempts to both moderate credit growth and offset its impact on domestic demand, with …

This paper assesses whether conditionality in IMF-supported programs has helped offset the potential negative effect of …-income countries-shows that growing use of revenue conditionality by low-income countries partially offsets the depressing effect of … foreign grants on tax revenue, particularly on taxes on goods and services. The impact of conditionality is strong in …

be subject to conditionality. We show that budget support is preferable to project aid when donors and recipients …

Does policy conditionality worsen domestic welfare, as governments are forced to attempt unpopular reforms resulting in … damaging protests, or does conditionality help implement reforms that otherwise would have been impossible? This paper analyzes …