Chapter

APPENDIX III A Review of Policies in Fund Programs, 1980–84

Author(s):
International Monetary Fund
Published Date:
September 1986
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Selection of the Sample

The Fund approved 117 stand-by programs and 23 extended facilities from January 1980 to December 1984, for 68 countries. Twenty-two countries had programs in two of those years, 15 countries had programs in three years, 5 countries had programs in four years, and 1 country had programs in all five years. The sample for this study was primarily derived from this population with all the 67 countries being included. To have a wider country example not all the programs approved in one particular country were included. The sample covers 94 programs in 68 countries. Fifteen programs were under extended facilities and 79 were for stand-by arrangements. Table 11 provides a list of Fund programs during 1980–83 by country and year; the programs selected for the sample are in bold print.

Table 11.Programs Supported Under Stand-By and Extended Arrangements Approved in 1980–84
1980198119821983198419801981198219831984
ArgentinaSBA1SBAMadagascarSBASBASBASBA
Bangladesh2EFF3EFFSBAMalawi2SBASBAEFF
BarbadosSBASBAMaliSBASBA
BelizeSBAMauritaniaSBASBA
BoliviaSBAMauritiusSBASBASBA
BrazilEFFMexicoEFF
BurmaSBAMorocco2EFFEFFSBASBA
Central African RepublicSBA*SBASBASBANigerSBASBA
ChileSBAPakistan2EFFEFF
ChinaSBA*PanamaSBASBASBA
Costa RicaSBAEFFSBAPeruEFFSBA
Côte d’lvoireEFFSBAPhilippinesSBASBASBA
CyprusSBA*PortugalSBA
DominicaEFFSBARomaniaSBA
EcuadorSBASenegalEFFSBASBASBA
El SalvadorSBA*SBASierra Leone2EFFSBA
Equatorial GuineaSBASolomon IslandsSBASBA
EthiopiaSBASomaliaSBASBASBA
GabonEFFSouth AfricaSBA
Gambia, TheSBASBASri Lanka2 (1979 EFF)SBA
GhanaSBASBASudanSBASBASBA
GrenadaSBAEFFTanzaniaSBA
GuatemalaSBA*SBAThailandSBASBA
GuineaSBATogoSBASBASBA
Guinea-BissauSBA*TurkeySBASBASBA
GuyanaEFFUgandaSBASBASBASBA
HaitiSBASBAUruguaySBA*SBASBA
HondurasSBAWestern SamoaSBASBA
HungarySBASBAYugoslaviaSBASBASBA
India2EFFZaïreEFFSBA
JamaicaEFFSBAZambia2EFFSBASBA
KenyaSBASBASBAZimbabweSBA*SBA
KoreaSBASBASBA
Lao, People’s Democratic RepublicSBA
LiberiaSBASBASBASBASBA

Stand-by arrangement.

Covers second or third year of the extended Fund facility.

Extended Fund facility.

First credit tranche.

Stand-by arrangement.

Covers second or third year of the extended Fund facility.

Extended Fund facility.

First credit tranche.

Classification of Policy Actions

The policy actions in the 94 programs in this sample are detailed in Table 12. They are classified by major area distributed by rows, and countries distributed by columns. The study makes no attempt to quantify the magnitude of adjustment envisaged or to determine if the measures were in fact implemented, but merely reports the measures as identified in the Use of Fund Resources documents.

Table 12.Characteristics of Specific Fund-Supported Adjustment Programs, 1980–841

Several symbols are employed to simplify the presentation and retain as much information as possible. A policy action undertaken by the authorities as identified in the column of policy measures is marked by an “*” in the appropriate country column. To save space, those cases where the direction of the policy undertaken was opposite to that identified in the policy measure column, such as an expansion of capital investment rather than a curtailment, are identified by a “▲.” As employed here, the term “prior actions” includes all policy measures adopted in the 12 months prior to adoption of the programs and not just measures undertaken as part of the program. If a Use of Fund Resources paper identifies World Bank collaboration on measures relating to capital expenditure, this assistance is identified by a “●.” Countries with external arrears during the program period are denoted with a “■” in the section covering debt.

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