Hence, it is not clear why we still need IMF programs as agents of constraint for macroeconomic policy. As for the budget support donors, whether they would really cut their aid if IMF programs were no longer implemented in SSA is debatable. In any case, donor aid is becoming less important as a source of budget funding for the frontier markets.
There are also drawbacks to long term IMF involvement in SSA which should not be underestimated. In particular there are political costs. IMF conditionalities generate resentment in SSA because they are perceived as an affront to national sovereignty. For countries which only gained independence less than 50 years ago this sentiment is understandable.