The legal scope of IMF conditionality : empirical analysis of the case of Colombia 1999 -2006The legal scope of IMF conditionality : empirical analysis of the case of Colombia 1999 -2006
Faculty of Law
REVISTA DE DERECHO PUBLICO
(2011):27, p. 1-42
The term conditionality refers to the economic policies suggested or imposed by the IMF to countries that will use its resources, in accordance with the Articles of the Agreement. This paper analyzes the legal scope of IMF conditionality and the level of accomplishment of structural reforms in Colombia, i.e. whether the case of Colombia corresponds to the general trends of compliance with IMF conditionality worldwide, as presented in previous studies, or not. The empirical analysis refers to three consecutive arrangements covering the period 1999-2006: (i) an Extended Fund Facility ((EFF); Dec 1999- 2004); a Stand-by arrangement (2002-4), and Nov.2006).