Abstract
Negotiations with the International Monetary Fund are a crucial part of debt talks. They produce an ‘adjustment programme’ of economic reforms or ‘conditions’ to be undertaken by the debtor government. Until 1986, programmes were of two types: ‘low-conditionality’ programmes — Compensatory Financing Facility (CFF) or first credit tranche loans — laid out only a broad direction for policy. ‘High-conditionality’ programmes — Extended Fund Facility (EFF) loans or Standby Agreements (SBAs) — had precise targets and policy measures.
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© 1991 Matthew Martin
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Martin, M. (1991). Negotiating Economic Policy with the IMF. In: The Crumbling Façade of African Debt Negotiations. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-12325-4_2
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DOI: https://doi.org/10.1007/978-1-349-12325-4_2
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-12327-8
Online ISBN: 978-1-349-12325-4
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