In 1999, the IMF and the World Bank adopted a new frame work for supporting economic reform in low-income member countries to achieve the objectives of poverty reduction and economic growth. The frame work consists of two key elements: country-authored Poverty Reduction Strategy Papers, drawing...

This paper is a preliminary review of the design of and early experience with IMF-supported programs in Indonesia, Korea, and Thailand during 1997-98. The review takes into account developments as of October 1998, and was the basis for a discussion of the programs by the IMF's Executive Board in...