Hard IMF conditions deter borrowers from coming back – ECB paper

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A working paper published by the European Central Bank looks at whether there is an “IMF stigma”, or an unwillingness by countries to ask for aid from the International Monetary Fund.

In Once bitten: new evidence on the link between IMF conditionality and IMF stigma, Irina Andone and Beatrice Scheubel use the Monitoring of Fund Arrangements database.

This gives detailed information on almost every IMF programme since 1992. The database allows them to measure the degree of the conditions

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