The last review of the Fund’s policy was in 2009 which focused on the use of debt conditionality in Fund-supported programs with low-income countries (LICs). Further discussion occurred in March 2013 paper. 

The reforms proposed in the current staff paper are based on a robust set of principles guiding public debt conditionality in all Fund-supported arrangements across the membership. Key components include: a) tight linkage of the use of debt conditionality to the presence of significant debt vulnerabilities, as identified by debt sustainability assessments; b) a unified treatment of public debt, encompassing both concessional and non-concessional borrowing; and c) the determination of debt limits as one component of a fiscal framework, appropriately adjusted to country conditions. The unified treatment of debt provides LICs with more flexibility to manage their financing needs, within a fiscal framework that supports growth and investment while maintaining prudent debt levels.

See full Press Releaase here http://www.imf.org/external/np/sec/pr/2014/pr14591.htm