Vol. 527 No. 3
115 Mr. M. Higgins asked the Minister for Foreign Affairs the action which has been taken to monitor the IMF's programme in low income countries, the renamed Poverty Reduction and Growth Facility; and if he will make a statement on the matter. [28170/00]
The Department has a number of different channels through which it can form an objective assessment of the performance of the Poverty Reduction and Growth Facility, PRGF, partic ularly in least developed countries. Our Embassies in Ireland Aid's priority countries maintain a strong dialogue with our partner Governments on their development process, including any involvement in the PRGF. The active involvement of our missions in donor wide co-ordination related to the preparation and implementation of poverty reduction strategy papers, PRSPs, allows Ireland Aid to monitor and, wherever possible, to influence World Bank and International Monetary Fund, IMF, programmes. In addition, I welcome views on the PRGF from the Irish NGO community many of whom also have a presence on the ground in these countries. The Department of Finance's representatives at both the IMF and the World Bank in Washington enable Ireland to monitor progress and to influence the direction of policy at board level. There is close co-ordination between the Departments of Finance and Foreign Affairs on the policy issues.
The PRGF is the IMF's concessional facility for low-income countries. The enhanced Structural Adjustment Facility, ESAF, was renamed the PRGF in November 1999 and given new terms of reference in order to reflect a strengthened emphasis on poverty reduction by the IMF.
The earlier ESAF had been criticised by Ireland and others for the stringent conditionality under which it operated and for its insufficient focus on poverty reduction. Several of the points made by Ireland in its national submission on the review of ESAF were incorporated into the new instrument with the subsequent adoption by the IMF of the PRGF.
