Review of Program Design and Conditionality: Reform Proposals

Author: International Monetary Fund. Strategy, Policy, and & Review Department

Volume/Issue: Volume 2026 Issue 029

Publication date: September 2026

ISBN: 9798229060905

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Exports and Imports , Finance , Economics- Macroeconomics ,

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Summary

Building on the review’s diagnostic work and initial Board guidance, this paper presents proposals to better calibrate IMF-supported programs in a more uncertain and shock-prone world. It discusses reform options to improve program design, strengthen resilience to risks, enhance the catalytic role of Fund financing, and promote the durable resolution of balance of payments problems.