00825nam a2200097Ia 450000500170000010000180001724500400003526000090007552006260008458300170071020260716043426.0  aCollier, Paul  aIMF's role in structural adjustment  c1999  aArgues that adjustment programmes have often been flawed by a lack of distributional analysis and by poor sequencing of reforms, notably premature financial liberalisation.  Notes that as a result the programmes have caused avoidable hardship.  Posits that conditionality has generally been ineffective in inducing policy reform, and that the attempt to taper out aid as part of the reform programme leads to avoidable reductions in post-stabilisation growth.  Suggests that the Fund has an important role to play in post-stabilisation environments, through its potential to provide credible signals to private investors.  c7/18/01kM2L