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Crisis Program Review

Gottlieb, Geoff, N’Diaye, Papa, et al., (2015),“Crisis Program Review”, IMF, 9 November.

This paper provides an updated review of Fund-supported programs undertaken during the global financial crisis. It follows a series of previous reviews during 2009–12 that assessed program design and outcomes during the surge in Fund supported programs since 2008. The review covers experience during 2008–15 for 32 arrangements financed from the Fund’s general resources account (GRA). It covers 27 countries for which arrangements were approved during September 2008–June 2013, with two years or more of program performance. The approach compares experiences in recent program cases with those in comparator economies that did not require Fund financial support and in countries during earlier Fund-supported programs. The data are drawn mainly from original program documents and the World Economic Outlook database through April 2015. In some cases they may differ, therefore, from the information in more recent IMF country reports.

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