"This paper synthesizes two papers prepared by IMF staff - "Review of the Poverty Reduction and Growth Facility : issues and options" (February 14, 2002) and "Review of the Key Features of the Poverty Reduction and Growth Facility : staff analysis (March 15, 2002)..." -- vii.

Includes bibliographical references.

Introduction: the key features of the PRGF -- Overview of the study sample and methodology -- Key features 1 and 2: broad ownership and participation and embedding the PRGF in the overall strategy for growth and poverty reduction -- Key feature 3: budgets that are more pro-poor and pro-growth -- Key feature 4: ensuring appropriate flexibility in fiscal targets -- Key feature 5: more selective structural conditionality -- Key feature 6: measures to improve public resource management and accountability -- Key feature 7: social impact analysis of major macroeconomic adjustments and structural reforms -- The potential role of capacity building in strengthening program design -- Conclusion.

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