According to IMF, the authorities need to reassess the role of and rationale for the Partnership Fund (PF).
“With limited dividends from SOEs (the source of PF’s funding), the PF is financially constrained. The PF is no longer operating consistent with the terms agreed under the program, as some of its investments do not follow commercial objectives and are not limited to minority shares. This could result in contingent liabilities. Staff called for the PF to operate within the terms agreed under the program and for the authorities to reconsider the need for a PF, given other support programs, including the newly created credit guarantee scheme for SMEs“, – notes IMF.