©1998 International Monetary Fund
Production: IMF Graphics Section
Cover design: Massoud Etemadi
Typesetting: Victor Barcelona, Julio R. Prego
Published September 1998
Reprinted March 2000
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The Economic Issues series aims to make available to a broad readership of nonspecialists some of the economic research being produced on topical issues by IMF staff. The series draws mainly from IMF Working Papers, which are technical papers produced by IMF staff members and visiting scholars, as well as from policy-related research papers.
This Economic Issue draws on material originally contained in IMF Working Paper 97/35, “Inflation Targeting in Practice,” by Guy Debelle, and Working Paper 97/130, “The Scope for Inflation Targeting in Developing Countries,” by Paul R. Masson, Miguel A. Savastano, and Sunil Sharma. This version was prepared by David D. Driscoll. Readers may purchase the Working Papers ($7.00) from IMF Publication Services, or view them in full text on the IMF’s website (http://www.imf.org).