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Poverty
reduction strategy papers
Poverty Reduction Strategy Papers (PRSPs) are at the heart of a new anti-poverty framework announced by the World Bank and International Monetary Fund (IMF) in 1999. They are intended to ensure that debt relief provided under the enhanced Highly Indebted Poor Countries (HIPC) Initiative, and concessional loans from the international financial institutions, help to reduce poverty in the poorest, most indebted Southern countries. Poverty Reduction Strategy Papers describe a country's macroeconomic, structural and social policies and programs to promote growth and reduce poverty, as well as associated external financing needs. PRSPs are prepared by governments through a participatory process involving civil society and development partners, including the World Bank and the International Monetary Fund. Core principles of the PRSP approach Five core principles underlie the PRSP approach. Poverty reduction strategies should be:
Sources: IMF, IUCN and World Bank |
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