ABSTRACT
Earlier chapters have examined the extent of continuity and change in the content of the IMF’s programmes and evidence on their effects. We turn now to survey some unresolved issues concerning the design of these programmes. We start with a brief exposition of the basic policy model used by the Fund. The bulk of the chapter is then taken up with discussion of issues arising, concerning: the uses and limitations of the model; the policy instruments and performance criteria employed in the programmes; the problem of programme inflexibility; and the difficulties the Fund has in handling the political aspects of stabilisation policy.
