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Growth, poverty and the IMF

✍ Scribed by Graham Bird


Publisher
John Wiley and Sons
Year
2004
Tongue
English
Weight
116 KB
Volume
16
Category
Article
ISSN
0954-1748

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✦ Synopsis


Abstract

Although the IMF presents itself as a monetary institution, it plays an important role in providing support to poor countries via its Poverty Reduction and Growth Facility. It is difficult to imagine more central development issues than poverty and growth. However, while there is a broad consensus surrounding the stabilization issues with which IMF programmes conventionally deal, there is much less agreement about the causes of economic growth and poverty. This carries lessons for the design of the PRGF. While most reviews of it focus on β€˜process’, this paper offers a more fundamental analysis of the Fund's involvement in growth and poverty reduction. It suggests that the design of conditionality needs to distinguish between elements according to the degree of scientific consensus. It also suggests that the success of the Fund's attempts to facilitate growth and poverty reduction will be severely constrained unless the necessary external, financial support is provided. Copyright Β© 2004 John Wiley & Sons, Ltd.


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