From: Jurriaan Bendien (adsl675281@TISCALI.NL)
Date: Sun Apr 08 2007 - 08:15:34 EDT
Internal Audit Questions IMF's Role in Africa Emad Mekay WASHINGTON, Mar 13 (IPS) - An independent review of the International Monetary Fund's operations in Africa says the lender's work is confused, vague, lacks transparency and suffers from a large gap between rhetoric and practice. "The overarching message of the evaluation is that the Fund should be clearer and more candid about what it has undertaken to do, and more assiduous, transparent, and accountable in implementing its undertakings," said the report. The report, issued late Monday, is aimed at helping the IMF improve its management of the programme under which it gives near obligatory policy advice in return for loans. It was conducted by the Independent Evaluation Office (IEO), the IMF's own monitor. The 130-page report examines the IMF's role and performance in the determination and use of aid to 29 low-income countries in Sub-Saharan Africa (SSA) that have been under the Poverty Reduction and Growth Facility (PRGF), the IMF's low-interest lending programme for poor countries, between 1999-2005. The report notes that while this period saw improved macroeconomic performance in a number of SSA countries, with higher growth rates and falling inflation, there was almost no change in the share of the population living in poverty. (...) http://ipsnews.net/interna.asp?idnews=36906 http://www.imf.org/external/np/ieo/2007/ssa/eng/index.htm
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