Browse
Despite a long history of program engagement, the Fund has not developed guidance on program design in members of currency unions.
Structural reforms were hoped to increase the scale and number of high-performing firms, which also tend to be exporting firms. Based on the results of a firm survey conducted by IMF staff, there is a perception that many reforms had at least some positive effects, but few reforms are seen as having had a significant impact. Firms’ perceived urgency to revisit or step up reforms, especially in the public and financial sectors, likely reflects the fact that these reforms are critical for reducing high transaction costs, especially for the exporting firms. The limited perceived impact of public sector reforms likely reflects implementation capacity constraints.
New Q&A feature in this issue focuses on "Seven Questions about Recessions" (by Marco Terrones); IMF research summaries on financial stress (by Selim Elekdag) and on the real effects of the 2007–08 financial crisis (by Hui Tong); listing of visiting scholars at the IMF during April–June 2009; listing of recent IMF Working Papers; listing of contents of Vol. 56 No. 2 of IMF Staff Papers; listing of recent external publications by IMF staff; and a feature on Staff Position Notes, the IMF’s new policy paper series, including a list of recent papers.
Biennial Review of the Implementation of the Fund's Surveillance and of the 1977 Surveillance Decision - Overview, Modalities of Surveillance, and Content of Surveillance