Conditionality

Thirdly, conditionality has reduced the policy latitude of national Governments, thereby increasing the risks of domestic instability.

E. Conditionality of IMF lending

Indeed, East Asian countries may find it difficult to conduct candid surveillance of one another s policies and enforce firm policy conditionality.

Questions were also raised on the issue of policy conditionality, it being noted that UNDP had not joined other donors in that regard.

A new Flexible Credit Line makes high volume financing available even before a crisis has struck without any ex post policy conditionality to qualifying countries with strong economic fundamentals and policy frameworks.

III. THE AVAILABILITY AND CONDITIONALITY OF OFFICIAL

This quot conditionality quot is a long way from the conditionality that Douglas Hurd was espousing in 1990 and 1991

Given the IMF stigma in Asia, a co financing facility that provides precautionary credit lines without policy conditionality to qualified member countries would be useful.

But that destination comes with a heavy conditionality.

All variants of Eurobonds come with supposedly strong conditionality.

Thus, we find ourselves faced with a complex conditionality.

This work includes oral and written submissions to the Government of the United Kingdom for the development of a policy paper entitled Partnerships for poverty reduction rethinking conditionality .

On that score, multilateral institutions and bilateral donors should reduce conditionality and trade agreements should provide room to manoeuvre so that developing countries can have adequate policy space .

Some progress in streamlining conditionality of aid flows is emerging.

Development assistance should not be tied to conditionality and selectivity.

197. Other delegations pointed out the tension surfacing between conditionality and national sovereignty, stressing that the principle at stake was one of accountability rather than conditionality.

Furthermore, different conditionality approaches make these institutions attractive to borrowing countries.

(The new, gentler IMF has sworn off such harsh conditionality for Greece.)

As important as IMF lending facilities is the conditionality attached to them.

Until the 1980s, conditionality mainly focused on monetary, fiscal and exchange rate policies.

This can at least partly explain why conditionality streamlining has been so slow.

Nevertheless, such conditionality would have been acceptable in the light of international practice.

That is why the United Nations Development Programme (UNDP) is opposed to conditionality.

The prospect of EU membership is at the heart of EU policy in the western Balkans, where we are starting to show (for example in Bosnia Herzegovina) a dangerous disinclination to apply tough conditionality.

They advocated a review of the conditionality for debt finance and the establishment of a technically sound financial arrangement to bridge the gap between macroeconomic policy targets and millennium development goals targets and commitments.

They advocated a review of the conditionality for debt finance and the establishment of a technically sound financial arrangement to bridge the gap between macroeconomic policy targets and Millennium Development Goal targets and commitments.

Policy conditionality of the international financial institutions has moved beyond questions of budgetary aggregates into those concerning the quality of fiscal adjustment, social safety nets and other programme details, including environmental and political factors.

The most important task will be to create a new type of political conditionality.

Admittedly, this would require departing from the Fund s traditional lending in exchange for conditionality.

Further debt relief should not involve conditionality beyond that required by existing IDA arrangements.

Another concern is that reducing the number of structural conditions in Fund supported programmes may lead to an expansion of conditionality by the World Bank, with the aggregate conditionality burden remaining unchanged or even increasing.

To allay anxiety about government profligacy, the ECB built conditionality into its bond purchase program.

The challenge is to find the right mix of pre approval, limited conditionality, and speed.

But, by insisting on such conditionality, she would trigger a huge political crisis in Europe.

Many participants expressed concern about the current distribution, volume, trends, effectiveness and conditionality of aid.

The basic objective of the 2002 guidelines is to streamline conditionality and enhance programme ownership.

3 IMF approves new conditionality guidelines , IMF Survey, vol. 32, Supplement 2003, 15 September 2003.

Third, the European Central Bank s announcement last August of its outright monetary transactions program through which it guarantees eurozone members sovereign debt, subject to policy conditionality has contributed significantly to subduing financial turbulence in the eurozone.

One of the most appropriate mechanisms could be to increase significantly access under the PRGF arrangements (called PRGF augmentation in recent IMF analysis), to diminish conditionality and to make conditionality more supportive of growth and poverty reduction.

We would like also to voice our appreciation with regard to the contents of paragraph 54 of the report on the policy conditionality for structural adjustment policies designed by the World Bank and the International Monetary Fund.

Neither should this paragraph be seen as a conditionality in order to force any budget decision.

A number of delegations stressed that there should be no human rights conditionality in development cooperation.

A number of delegations stressed that there should be no human rights conditionality in development cooperation.

Even in Europe, with its long history of cooperation, surveillance and conditionality are outsourced to the IMF.