Food and Fuel Prices - Recent Developments, Macroeconomic Impact, and Policy Responses
Policy Papers, June 30, 2008
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- Food and Fuel Prices - Recent Developments, Macroeconomic Impact, and Policy Responses
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Bibliographic details
- Published: June 30, 2008
- Series: Policy Papers
Major findings — macroeconomic impacts
- The report assesses effects of the surge in food and fuel prices on:
- Balance of payments
- Budgets
- Prices (inflationary pressures)
- Poverty (distributional and poverty impacts)
- The analysis is described as an initial assessment of a still-evolving situation; the somewhat tentative nature of the analysis is explicitly noted.
Countries' policy responses reviewed
- The report reviews countries’ macroeconomic policy responses to date, considering measures taken to mitigate immediate and medium-term impacts on macroeconomic stability and vulnerable populations.
Fund advice and recommended policy priorities
- Overarching policy guidance (as stated in the report):
- Policies should (i) ensure that food and finance reaches the most affected countries as quickly as possible,
- (ii) include targeted and scaled-up social measures,
- (iii) avoid high costs in terms of macroeconomic instability or loss in future agricultural production.
- The Fund emphasizes collaboration with international partners.
- The Fund stands ready to provide balance of payments assistance.
Emphasis and caveats
- The paper presents an initial assessment and therefore contains tentative analysis that should be borne in mind when interpreting findings and recommendations.
Source: Food and Fuel Prices - Recent Developments, Macroeconomic Impact, and Policy Responses (June 30, 2008).
Content in this bundle
- Food and Fuel Prices—Recent Developments, Macroeconomic Impact, and Policy Responses; June 30, 2008