This paper discusses Afghanistan's Third Review Under the Extended Credit Facility (ECF) Arrangement and Request for Modification of Performance Criteria (PCs). Program implementation through end-December 2017 was satisfactory, despite the challenging security situation and mounting political...

The government has strengthened policy and reform implementation in recent months. All Quantitative Performance Criteria (QPCs) for end-March and three out of nine Structural Benchmarks (SBs) for the Third Review were met. One additional SB was implemented with delay. Growth picked up to 2.5...

Results-based aid (RBA) models link funds to outcomes, rather than paying for inputs. Despite their theoretical appeal and recent adoption by donors and multilateral development banks, there is limited empirical evidence supporting this form of aid for national governments. We estimate the...

On April 13, 2018, the Executive Board of the International Monetary Fund (IMF) completed the first review of Chad's economic performance under the program supported by an Extended Credit Facility (ECF) arrangement. Completion of this review enables the immediate disbursement of SDR 35.05...

This paper discusses Gabon's Second Review of the Extended Arrangement Under the Extended Fund Facility, Requests for Waivers of Nonobservance of Performance Criteria and Waivers of Applicability, and Financing Assurances Review. The short-term outlook for Gabon remains challenging. Although a...

Background: The three-year arrangement under the Extended Credit Facility (ECF) for SDR 32.38 million (USD 44.9 million, or 10 percent of quota) was approved on July 20, 2016. The first three reviews under the ECF were completed in May 2017, December 2017, and May 2018. The arrangement supports...