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Growth and Adjustment in IMF Supported Programmes: Discussion of the IEO’s Evaluation

Tuesday, September 28, 2021 - 9:30am to 11:00am Washington DC Time

 

MODERATOR

  • Mark Plant, Chief Operating Officer of CGD Europe, Co-Director of Development Finance, and Senior Policy Fellow, Center for Global Development

PRESENTERS

  • Charles Collyns, Director, Independent Evaluation Office of the International Monetary Fund
  • Jun Kim, Advisor and Alternate Senior Budget Manager, Independent Evaluation Office of the International Monetary Fund

PANELLISTS

  • Kenneth Kang, Deputy Director, Strategy, Policy, and Review Department, International Monetary Fund.
  • Daouda Sembene, Distinguished Non-Resident Fellow, Center for Global Development.
  • Rachel Turner, Director International Finance, Foreign, Commonwealth and Development Office (FCDO), United Kingdom.

ABOUT THE EVENT

What is the impact of IMF-supported programs on growth? Does the Fund lean too heavily towards austerity to ensure external adjustment at the expense of growth? The latest report from the Independent Evaluation Office (IEO) of the International Monetary Fund (IMF) examined how IMF-supported programs have helped economic growth while maintaining and delivering adjustment measures needed for external viability. While supporting and maintaining external viability remains the principal focus of IMF-supported programs, they have paid more attention to fostering medium-term growth over time. The report finds no evidence of bias towards excessive austerity in IMF-supported programs, but a stronger focus on supporting growth is needed to address persistent shortfalls in growth outcomes.

Hosted by the Center for Global Development, the event will open with a presentation on the report by the IEO, followed by an open discussion and comments from IMF experts, former policy makers and expert economists.

Related Experts

Photo of Daouda Sembene
Distinguished Non-Resident Fellow
Photo of Masood Ahmed
President