IMF Conditionality: Experience Under Stand-by and Extended Arrangements, Part I: Key Issues and Findings
September 26, 1995
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This paper is Part I of a two-volume study conducted as a part of the IMF's ongoing process of evaluating its lending facilities. It focuses on IMF-supported programs and macroeconomic performance during 1988-92, reflecting information available through the end of 1993. Part I provides an overview of the experiences during the arrangements reviewed: it describes the initial conditions faced in these countries, the adjustment strategies adopted, the degree to which programs were implemented, and the extent of sustained adjustment experienced.
Subject: Balance of payments, Capital inflows, Exchange rate anchor, Financial services, Fiscal consolidation, Fiscal policy, Inflation, Monetary policy, Prices, Real interest rates
Keywords: Capital inflows, country, debt service, Eastern Europe, Europe, Exchange rate anchor, financing, Fiscal consolidation, fuel exporter, Global, high-inflation country, IMF support, Inflation, Middle East, OP, price liberalization, Real interest rates, structural adjustment, Sub-Saharan Africa, Western Hemisphere
Pages:
64
Volume:
1995
DOI:
Issue:
009
Series:
Occasional Paper No. 1995/009
Stock No:
S128EA0000000
ISBN:
9781557754929
ISSN:
0251-6365
