Definition: Staff monitored program

Category: IMF terminology

Iinformal and flexible instrument for dialogue between the International Monetary Fund (IMF) staff and a member country on its economic policies. Under a staff-monitored program (SMP) the country's targets and policies are monitored by the IMF staff; a staff-monitored program is not supported by the use of the Fund's financial resources; nor is it subject to the endorsement of the Executive Board of the IMF. http://www.imf.org/external/np/exr/glossary/showTerm.asp