An IMF Staff Monitored Program, or SMP, is an informal agreement...

• An IMF Staff Monitored Program, or SMP, is an informal agreement between an IMF member country and IMF staff to monitor the member country’s economic program.
• 
  
• Because the agreements are informal, they typically do not entail endorsement by the IMF Executive Board.

www.imf.org/en/About/Factsheets/Sheets/2023/Staff-Monitored-Program-SMP

Staff Monitored Program - IMF

www.elibrary.imf.org › view › journalsStaff-Monitored Programs—Updated Operational Guidance Note

An SMP is an informal agreement between national authorities and Fund staff to monitor the implementation of the authorities’ economic program.¹ SMPs are approved by Fund management and are considered a form of TA under the Fund’s legal framework.

Purpose
1. An SMP is an informal agreement between national authorities and Fund staff to monitor the implementation of the authorities’ economic program.1 SMPs are approved by Fund management and are considered a form of TA under the Fund’s legal framework.

Understandings reached under an SMP are informal in nature, unlike a Fund-supported program.2 Staff-monitored programs are available to all Fund members seeking to establish a track record for UFR.3