A new aid rhetoric emphasises the selective allocation of otherwise unconditional funds in support of recipients drafting their own sensible plans, in contrast to the old practice of lumping money and policies together in donor-wrapped packages. This line of thinking is supported by both the...

While often considered a purely ?nancial institution, the IMF has throughout its history performed non-?nancial services for its member- ship. The latest such example is the Policy Support Instrument (PSI), a certi?cation mechanism established in 2005 for which only poor members are eligible....