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International Monetary Fund: Lending Policies

  Premium   Download PDF Now (16 pages)
Report Type Reports and Testimonies
Report Date June 22, 1999
Report No. T-GGD/NSIAD-99-194
Subject
Summary:

Countries that are members of the International Monetary Fund (IMF) may request financial assistance from the IMF when they face balance-of-payment problems. IMF staff and the borrower country agree upon the financial assistance and policy changes that the country intends to undertake as conditions for that assistance. Upon approval from IMF's Executive Board, the country gains initial access to financial assistance. This report (1) describes how IMF established financial arrangements with borrower countries and the types of conditions set under these arrangements and assesses how this process was used for six borrower countries (Argentina, Brazil, Indonesia, the Republic of Korea, Russia, and Uganda) and (2) describes how IMF monitors countries' performance and assesses how this process was used for the same six borrower countries, detailing the conditions met and not met and the actions that IMF took in response. This testimony summarized GAO's June 1999 report, GAO/GGD/NSIAD-99-168.

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