Poverty Reduction Strategy Paper

Poverty Reduction Strategy Papers (PRSPs) are prepared by low-income countries through a participatory process involving stakeholders: low-income countries and those responsible for international development such as the International Monetary Fund (IMF) and the World Bank.

PRSPs are regularly updated every 5 years based on annual progress reports. PRSPs describe macroeconomic, structural, and social policies and programs that countries will adopt over the next three years or longer with objectives of fostering broad-based growth and reducing poverty, as well as the needs related to external resources and the main sources of financing.

Because the preparation of a PRSP takes time, the IMF and the World Bank have agreed to provide concessional assistance on the basis of an I-PRSP. These documents present a summary and analysis of the poverty situation in the country, describe the strategy adopted to reduce poverty, and explain the mechanism by which a final PRSP will be developed through a participatory process.

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• Annual Report 2002published by the IMF (April 2002)