Series: IMF Working Papers
Author(s): Uma Ramakrishnan , and Alun Thomas
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 2006
Keywords: prior actions, signaling, commitment, implementation, inflation, inflation rate, structural conditionality, nominal interest rate, International Monetary Arrangements and Institutions, International Lending and Debt Problems,
Prior actions are measures that need to be implemented prior to Board approval of an IMFsupported program. This paper examines whether such prior actions can signal a willingness to implement reforms, especially wh...