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International Monetary Fund. External Relations Dept.

This paper highlights that the distribution of income and wealth in developing countries has become a matter of great concern to all those interested in development. The paper highlights that in Latin America, the poorest half of the population receives about the same share of income as the top 1 percent and the lowest 70–75 percent of the population the same share as the top 5 percent. It is clear that the distribution of income and wealth will have substantial implications for the pattern of consumption and production in developing countries.

International Monetary Fund. External Relations Dept.

This paper highlights that the 1980 Annual Meeting of the Board of Governors of the IMF affirmed the willingness of the IMF to evolve, under its charter, to meet new circumstances; but in some ways there was a departure from the past. Two substantive problems dominated the Meeting: the persistence of high inflation as a worldwide problem and the large payments deficits engulfing the non-oil developing countries. There was general agreement that these were the immediate threats to international monetary stability.

International Monetary Fund. External Relations Dept.

This paper reviews the self-help housing project in El Salvador. The paper highlights that projects like this one become community efforts in a real sense. The families participate in road building, construction, digging trenches, and pipe-laying, under supervision. The Fundación Salvadoreña de Desarrollo y Vivienda Mi'nima (FSVM) is the executing agency in this self-help project involving a US$6 million International Development Association (IDA) credit and a US$2.5 million loan from the World Bank to the government of El Salvador. The FSVM has already completed about 1,020 fully serviced lots for families with monthly incomes below US$120.

Anthony Lanyi, Mr. Claudio M. Loser, Bahram Nowzad, Stephen Heyneman, Sanjaya Lall, and Graeme Donovan

The enhancement of the IMF’s structural adjustment facility is discussed. In its April 1987 meeting, the IMF’s Interim Committee highlighted the plight of low-income countries, and outlined a strategy for their recovery. It emphasized that it is crucial for these countries to implement reforms that to be fully effective, will need to be accompanied by the timely provision of additional financing on appropriate concessional terms to support these reforms. The Committee also called upon creditor governments to grant exceptional relief with respect to official credits in highly indebted low-income countries.

M. Neison, Edward M. Graham, Paul Krugman, Charles Gardner, Mr. David John Goldsbrough, Anand Chandavarkar, Mr. Joseph Gold, Maurice Scott, Deepak Lai, V.V. Bhatt, Michael Liplon, Richard Longhurst, Alexander von, and der Osten

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

International Monetary Fund. External Relations Dept.

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

Mr. Rabah Arezki, Gregoire Rota-Graziosi, and Lemma W. Senbet

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

Edward V.K. Jaycox and Clifford Hardy

A healthy construction industry is essential to a healthy developing economy. The authors describe how government can promote construction.

Guy Pfeffermann

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.