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Cover IMF Conditionality
IMF Conditionality
Experience Under Stand-By and Extended Arrangements, Part II: Background Papers
Mr. Adam Bennett, Mr. Louis Dicks-Mireaux, Mr. Miguel A Savastano, Ms. María Vicenta Carkovic S., Mr. Mauro Mecagni, Ms. Susan M Schadler, and Mr. James A John

Abstract

This paper is part II 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 (Occasional Paper No. 128) provides an overview of the principal issues and findings and distills the main message for future programs. Part II presents detailed examinations of selected policy issues in five background papers.

Keywords:
OP; wage control; saving; wage; real interest rate; saving rate; ESAF arrangement; bank interest; saving-investment balance identity; Real interest rates; Private savings; Wages; Inflation; Exchange rate anchor; Europe; Middle East; Africa; Western Hemisphere