The evaluation assesses the IMF's EAP from its inception in 2002 through mid-2023, the launch of the evaluation. Drawing on experience with 38 Exceptional Access (EA) arrangements during the evaluation period, the analysis spans the EAP's objectives and design, successive reforms, and experience...

Executive Directors welcomed the report of the Independent Evaluation Office (IEO) on the IMF's Exceptional Access Policy (EAP), encompassing the policy's objectives and design, successive reforms, and experience with its implementation. They recognized that the Fund has sought to find a...

Policy adjustment and reforms are delivering on their objectives, with signs of stabilization crystallizing. Further headways have been made on the debt restructuring. With the December 2024 general elections approaching and considering past episodes of election-driven policy slippages, the...

The Executive Board approved 36-month, US$822 million arrangements under the Extended Fund Facility (EFF) and the Extended Credit Facility (ECF) for Honduras in September 2023. The IMF-supported program aims to strengthen macroeconomic stability, create fiscal space for productive investment and...

On November 22, 2024, the Executive Board of the International Monetary Fund (IMF) discussed a paper on the Review of the IMF's Communication Strategy that outlines the objectives and scope of Fund communication, reviews its implementation in recent years, and proposes updates and modernization...

Crises often require economic consolidations that may unevenly affect different segments of the population. Some crisis countries enter financial arrangements with the IMF and adopt adjustment programs, and studies have associated program conditionality with negative impacts on gender...

The evaluation assesses the EAP's rationale, evolution, and implementation during the period since its adoption in 2002. It assesses whether the EAP has fulfilled the objectives that guided its creation, namely, shaping members' and market expectations, providing clearer benchmarks for Board...

Spillovers from the war in Sudan have worsened South Sudan's macroeconomic imbalances and exacerbated an already-dire humanitarian situation. A pipeline carrying 70 percent of South Sudan's oil production through Sudan has been inoperable since February 2024 and repairs have taken longer than...

While agricultural output suffers from yet another drought, non-agricultural output has remained robust, and domestic demand is strengthening. Nonetheless, unemployment has increased. Inflationary pressures have abated, allowing BAM to cut the policy rate in June 2024. The fiscal deficit is on...

Political and social stability have been tested by a cost-of-living crisis, a coup attempt, and allegations of electoral fraud. To help maintain calm, the ruling coalition and the opposition released a joint statement promoting a constructive political dialogue. The Tripartite Committee...