Mechanism by which a country agrees to cease payments on its debts until a restructuring agreement has been negotiated with its creditors.
Background
Background
Private Sector Development Strategy
New strategy developed by the World Bank to reduce public sector spending on essential goods and services and by promoting private sector provision of public services, such as health and education. Decision on the adoption of this strategy will be taken in December 2001.
Background
Monthly Operational Summary
A comprehensive listing of the World Bank's entire portfolio of proposed projects.
Background
Financial Sector Assessment Programme
Assessment undertaken by joint World Bank and IMF teams to determine the vulnerability of a country's financial sector and identify opportunities for restructuring and reform.
Background
Compensatory and Contingency Financing Facility
IMF financing facility that combines the compensatory financing facility with elements of contingency financing to help members cover short falls in export earning and service receipts, as well as excesses in cereal import costs, that are temporary and arise from events beyond the members' control.
Background
Technical Cooperation
Includes both (1) Grants to nationals of aid recipient countries receiving education or training at home or abroad and (2) Payments to consultants, advisors and similar personnel in recipient countries.
Background
PRGF Programme
Programme supported by the Poverty Reduction and Growth Facility.
Background
IMF Letter of Intent
Letter from a government to the IMF outlining planned economic reforms to be made in relation to receiving an IMF loan. It includes a matrix of conditions that must be implemented in order to access the IMF's resources.
Background
Enhanced Structural Adjustment Facility
Facility established in 1987 to provide assistance on concessional terms to low-income member countries facing protracted balance of payments problems. Has been replaced in 2000 by the Poverty Reduction and Growth Facility (PRGF).
Background
Accountability
Providing an explanation for or justification of one's actions.
Background
Social Capital
Refers to the institutions relationships attitudes and values that govern interactions among people in society and contribute to economic and social development
Background
Operational Policy
OPs are short focused statements of Bank policy derived from the Bank's Articles of Agreement, general conditions and board-approved policies.
