Why should multilateral lending exist in a world where private capital markets are well developed and governments have their own bilateral aid programs? If lending by the World Bank, IMF, and regional development banks has an independent rationale, it must rest on advantages generated by the...

Between 1993 and 2013, Mozambique became one of the fastest-growing economies in Sub-Saharan Africa boosting incomes and living standards. Political and macroeconomic stability provided the foundation for robust growth led by a rebounding agricultural sector and significant donor support....

The 1980s and 1990s saw a policy revolution in developing countries in which many highly protected (if not closed) economies were opened to world trade. These reforms were largely undertaken unilaterally, but international economic institutions such as the World Bank, the International Monetary...

Between 1993 and 2013, Mozambique became one of the fastest-growing economies in Sub-Saharan Africa boosting incomes and living standards. Political and macroeconomic stability provided the foundation for robust growth led by a rebounding agricultural sector and significant donor support....

In this paper we assess the IMF approach to economic reform in developing countries. The impact of IMF program participation on economic growth has been evaluated empirically in a cross-country literature, with little evidence of IMF programs having been successful. This suggests that a fresh...

The World Bank is to forgive $12.24 billion in IDA debt payments from HIPC borrowers. It has received $1 billion from the HIPC Trust Fund to help offset these losses, but still has a $11.6 billion unfunded liability. The IMF has gold worth $38 billion on hand for which it has no actual use. This...

The paper presents a detailed description of IMF and World Bank conditionality and tries to explain changes in this conditionality over time as well as differences between the two institutions. Using panel data it is shown that the number of Fund conditions seem to be influenced by...

This Country Program Evaluation (CPE) assesses the World Bank Group's development effectiveness in Chad over the past decade within a context of high fragility and extreme poverty. The report covers the implementation of the Interim Strategy Note (2010-12) and the Country Partnership Framework...

This Country Program Evaluation assesses the development effectiveness of the Bank Group's engagement in Madagascar between fiscal years 2007 and 2021 and surfaces lessons to inform the design and implementation of the next Bank Group-supported partnership strategy with Madagascar. The...