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The ESAF at Ten Years
			: Economic Adjustment and Reform in Low-Income Countries

The ESAF at Ten Years : Economic Adjustment and Reform in Low-Income Countries »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 1998

DOI: http://dx.doi.org/10.5089/9781557756930.051

ISBN: 9781557756930

Keywords: inflation, monetary fund, transition economies, structural adjustment, terms of trade

For over 10 years, the IMF has supported adjustment and reform programs in many of its low-income members through two facilities established specifically for that purpose - the Enhanced Structural Adjustment Facili...

Economic Adjustment in Low-Income Countries
			: Experience Under the Enhanced Structural Adjustment Facility

Economic Adjustment in Low-Income Countries : Experience Under the Enhanced Structural Adjustment Facility »

Series: Occasional Papers

Author(s): F. Rozwadowski , Siddharth Tiwari , David Robinson , and Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 June 1993

DOI: http://dx.doi.org/10.5089/9781557753366.084

ISBN: 9781557753366

Keywords: current account, export prices, export volume, external debt, terms of trade

This paper evaluates progress made under ESAF-supported programs in attaining external viability, restoring economic growth, and implementing structural reforms. Performance is evaluated for 19 countries that enter...

I Overview

I Overview »

Source: The ESAF at Ten Years : Economic Adjustment and Reform in Low-Income Countries

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 1998

ISBN: 9781557756930

Keywords: inflation, monetary fund, transition economies, structural adjustment, terms of trade

For over 10 years, the IMF has supported adjustment and reform programs in many of its low-income members through two facilities established specifically for that purpose—the Enhanced Structural Adjustment F...

II Initial Conditions and the Setting for Adjustment

II Initial Conditions and the Setting for Adjustment »

Source: The ESAF at Ten Years : Economic Adjustment and Reform in Low-Income Countries

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 1998

ISBN: 9781557756930

Keywords: inflation, monetary fund, transition economies, structural adjustment, terms of trade

Before turning to the record of adjustment and reform undertaken in ESAF countries, it is useful to recall why countries embarked on this process, and what they hoped to achieve. This section looks first, in...

III What Has Been Achieved?

III What Has Been Achieved? »

Source: The ESAF at Ten Years : Economic Adjustment and Reform in Low-Income Countries

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 1998

ISBN: 9781557756930

Keywords: inflation, monetary fund, transition economies, structural adjustment, terms of trade

Progress with regard to the strategy for adjustment and reform can be assessed both on the basis of policies implemented and outcomes achieved. The experience of SAF/ESAF-supported programs—and the countries...

IV Lessons for Program Design

IV Lessons for Program Design »

Source: The ESAF at Ten Years : Economic Adjustment and Reform in Low-Income Countries

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 1998

ISBN: 9781557756930

Keywords: inflation, monetary fund, transition economies, structural adjustment, terms of trade

Countries undertaking programs of adjustment and reform supported by the SAF and ESAF have brought their economies a long way from the doldrums of the early 1980s. Real per capita output growth among nontran...

Statistical Appendix

Statistical Appendix »

Source: Economic Adjustment in Low-Income Countries : Experience Under the Enhanced Structural Adjustment Facility

Series: Occasional Papers

Author(s): F. Rozwadowski , Siddharth Tiwari , David Robinson , and Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 June 1993

ISBN: 9781557753366

Keywords: current account, export prices, export volume, external debt, terms of trade

Table A1. Basic Indicators Prior to SAF/ESAF Period (Annual average during the three years preceding first SAF- or E...

I. Introduction

I. Introduction »

Source: Economic Adjustment in Low-Income Countries : Experience Under the Enhanced Structural Adjustment Facility

Series: Occasional Papers

Author(s): F. Rozwadowski , Siddharth Tiwari , David Robinson , and Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 June 1993

ISBN: 9781557753366

Keywords: current account, export prices, export volume, external debt, terms of trade

Following broadly satisfactory growth, inflation, and external performance during the 1960s and 1970s, many low-income countries encountered serious economic difficulties in the early 1980s. These problems f...

II. The Setting

II. The Setting »

Source: Economic Adjustment in Low-Income Countries : Experience Under the Enhanced Structural Adjustment Facility

Series: Occasional Papers

Author(s): F. Rozwadowski , Siddharth Tiwari , David Robinson , and Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 June 1993

ISBN: 9781557753366

Keywords: current account, export prices, export volume, external debt, terms of trade

The economic and social structures of the 19 countries under review made them unusually vulnerable to adverse weather and world market conditions as well as poor domestic financial policies. Incomes per capi...

III. Financial and Structural Policies: The Broad Front for Reform

III. Financial and Structural Policies: The Broad Front for Reform »

Source: Economic Adjustment in Low-Income Countries : Experience Under the Enhanced Structural Adjustment Facility

Series: Occasional Papers

Author(s): F. Rozwadowski , Siddharth Tiwari , David Robinson , and Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 June 1993

ISBN: 9781557753366

Keywords: current account, export prices, export volume, external debt, terms of trade

The exceptionally weak economic performance and structural characteristics of the ESAF countries meant that a wide range of policy changes and reforms were needed. Generally, programs aimed at containing exc...