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Little new in IMF/WB pilots

15 June 1999

Several of the pilot ESAF collaboration studies between the IMF and world Bank are in trouble, and new countries may need to be selected.

Following the IMF‘s external evaluation last year, the Fund and Bank were asked to coordinate better on structural reforms such as privatisation, and financial sector reforms and to protect the poor from the negative impacts of ESAF programmes.

Whilst IMF staff claim the exercise has already changed programmes in the pilot countries, the general impression is that the pilots will produce few changes to the substance or design of IMF programmes. Most attention appears to have been paid to how the Bank and Fund can reach agreement on reforms.