Abstract

Let me begin by providing a brief overview of the proceedings so far in order to identify some of the issues our panelists may want to address. The seminar to date has covered the main linkages between macroeconomic stabilization and reform and has included case studies from both developing countries and transition economies. Two well-known principles have been reaffirmed, namely, that macroeconomic stabilization is a necessary, but not a sufficient, condition for sustained growth; and that structural reforms are necessary in order for macroeconomic stabilization to be effective.