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International Monetary Fund. External Relations Dept.
The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen to podcasts given by top IMF economists on important issues in the global economy. www.imf.org/external/pubs/ft/survey/so/home.aspx
Mr. James M. Boughton and Mr. Alex Mourmouras
IMF lending is generally conditional on specified policies and outcomes. These conditions usually are negotiated compromises between policies initially favored by the Fund and by the country's authorities. In some cases the authorities might be satisfied enough with the outcome to take responsibility for it ("own" it) even though it was not their original preference. In other cases, they might accept the outcome only to obtain financing, in which case weak commitment might lead to poor implementation. This paper reviews the theoretical basis for the importance of ownership, summarizes what is known about its empirical effects, and suggests a strategy for strengthening it.
International Monetary Fund. External Relations Dept.

The IMF has approved an SDR 292.68 million ($365 million) loan under the Poverty Reduction and Growth Facility (PRGF), resuming lending to this West African country after a three-year hiatus. The loan became effective on March 28 after a World Bank review of Côte d’Ivoire’s interim poverty reduction strategy paper (PRSP). Côte d’Ivoire can immediately draw up to SDR 58.54 million (about $73 million) under the PRGF arrangement.