| Summary/Abstract |
Late last year the IMF decided upon a seemingly technical policy change that would allow it to continue to lend in support of a country's economic program even when there are unresolved debt arrears owed to official creditors. In doing so, the decision overturned one of the policy pillars of IMF doctrine. For decades the IMF's earlier stance, working in close cooperation with the Paris Club of official creditors, served to resolve debt issues by facilitating a timely agreement aiming to provide debt sustainability to the debtor country and financing assurances to the IMF.
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