In its 1999 Annual Meeting, the IMF announced a new initiative: the establishment of Poverty Reduction Strategy Papers (PRSPs) that governments of poor countries should produce in consultation with civil society before receiving debt relief. PRSPs set up the Government's plans for reducing poverty which, following endorsement by the IMF and World Bank, provide a framework for all future donor lending. In addition to the introduction of PRSPs, the IMF announced that it would change the name of the Enhanced Structural Adjustment Facility (ESAF), the IMF body responsible for Structural Adjustment Programs (SAPs), to the Poverty Reduction Growth Facility (PRGF).
Since March 2000, the Government of Georgia has been in the process of elaborating the PRGF, which is considered a basic document, and should lay the foundation for all IMF and World Bank concessional lending, as well as for other development partners.
Together with various national and international NGOs, Green Alternative has formed an independent network of PRSP watchers, to ensure public participation in the decision-making process, improve the quality of documents, and facilitate sustainable development of Georgia, as well as to monitor the implementation of programmes.
Documents
Monitoring International Financial Institutions