Działalność finansowa a programy stabilizacyjne Międzynarodowego Funduszu Walutowego

Abstract

The authoress hjs divided financial resources of the IMF into non-condittonality, low-conditionality and high-conditionality resources. In the last decade, financial facilities encompassed by high-conditionality have assumed the greatest importance. They may be obtained after submitting a programme of structural adjustments aiming at elimination of deficit in the balance of payments, obtaining acceptance ol such a programme by the IMF, and making a commitment by an interested country to implement this programme. In this connection, the authoress has found it advisable to discuss stand-by arrangements, which have become the main instrument of the principle of conditionality of the IMF assistance and programmes of structural changes before proceeding to the review of high-conditionality mechanisms such as: upper credit tranches, extended facilities, policy of enlarged access, and structural adjustment facilities.