02309cas a2200265 a 4500 AALejournalIMF015862 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513511689 1018-5941 BD-DhAAL BD-DhAAL Iseringhausen, Martin. Repeated Use of IMF-Supported Programs : Determinants and Forecasting / Martin Iseringhausen, Mwanza Nkusu, Wellian Wiranto. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (48 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper studies the determinants of repeated use of Fund-supported programs in a large sample covering virtually all General Resources Account (GRA) arrangements that were approved between 1952 and 2012. Generally, the revolving nature of the IMF's resources calls for the temporary sup-port of member countries to address balance of payments problems while repeated use has often been viewed as program failure. First, using probit models we show that a small number of country-specific variables such as growth, the current account balance, the international reserves position, and the institutional framework play a significant role in explaining repeated use. Second, we discuss the role of IMF-specific and program-specific variables and find evidence that a country's track record with the Fund is a good predictor of repeated use. Finally, we conduct an out-of-sample forecasting exer-cise. While our approach has predictive power for repeated use, exact forecasting remains challenging. From a policy perspective, the results could prove useful to assess the risk IMF programs pose to the revolving nature of the Fund's financial resources. Mode of access: Internet Nkusu, Mwanza. Wiranto, Wellian. IMF Working Papers; Working Paper ; No. 2019/245 Full text available on IMF http://elibrary.imf.org/view/journals/001/2019/245/001.2019.issue-245-en.xml IMF e-Library