The IMF Approach to Economic Stabilization
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Summary:
This paper explains the IMF approach to economic stabilization. It argues that a Fund-supported program is a process, comprising six broadly defined phases, that evolves along a multiplicity of potential pathways. The paper discusses the three-pronged approach to stabilization at the core of all IMF-supported programs, stresses the iterative character of “financial programming,” and explains the rationale for setting quantitative performance criteria for fiscal and monetary policy in IMF-supported arrangements. A main theme is that IMF-supported programs contain a great deal of flexibility to respond both to differences in circumstances and to changes in conditions in individual cases.
Series:
Working Paper No. 1999/104
Subject:
Central banks Domestic credit Exchange rates Financial crises Fiscal policy Foreign exchange International reserves Monetary base Money
Frequency:
Irregular
English
Publication Date:
July 1, 1999
ISBN/ISSN:
9781451852745/1018-5941
Stock No:
WPIEA1041999
Pages:
42
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