- International Monetary Fund. Research Dept.
- Published Date:
- January 1986
© 1986 International Monetary Fund
International Standard Serial Numbers: ISBN 9781451944785
Address orders to:
External Relations Department
International Monetary Fund,
Washington, D.C. 20431
Distributed to the college and university textbook adoption market by:
Oxford University Press
List of Tables in Chapters and Supplementary Notes
List of Charts in Chapters and Supplementary Notes
Conventions and Symbols
A number of standard conventions have been employed in arriving at the projections in the report. It has been assumed that the average real exchange rates for the major currencies of a recent period (March 3–7, 1986) will prevail throughout the balance of 1986 and 1987; that “present” policies of national authorities will be maintained; and that the average price of oil will be $15 a barrel from the second quarter of 1986 to the end of 1987. These are, of course, working assumptions rather than forecasts, and the uncertainties surrounding them add to the margins of error that would in any event be involved in the report’s projections. The estimates and projections themselves are based on statistical information available on or before March 21, 1986.
The following symbols have been used throughout this report:
… to indicate that data are not available;
— to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;
– between years or months (e.g., 1984—85 or January-June) to indicate the years or months covered, including the beginning and ending years or months;
/ between years (e.g.. 1984/85) to indicate a crop or fiscal (financial) year.
“Billion” means a thousand million.
Minor discrepancies between constituent figures and totals are due to rounding.
* * *
It should be noted that the term “country” used in this report does not in all cases refer to a territorial entity that is a state as understood by international law and practice. The terms also covers some territorial entities that are not states but for which statistical data are maintained and provided internationally on a separate and independent basis.
The projections and analysis contained in the World Economic Outlook are the product of a comprehensive interdepartmental review of world economic developments by the staff of the International Monetary Fund. This review is carried out annually and draws on the information the Fund staff gathers through its regular and special consultations with member countries as well as through its econometric modeling techniques. The project is coordinated in the Research Department and draws on the specialized contributions of staff members in the Fund’s five Area Departments, together with those of staff in the Exchange and Trade Relations and Fiscal Affairs Departments.
An earlier version of the material in this report was the basis for a discussion of the world economic outlook by the Fund’s Executive Board on March 21 and March 24, 1986. The present version has benefited from comments made during those discussions by Executive Directors. However, the descriptions of developments and policies that the report contains, as well as the projections for individual countries and the contents of supplementary notes, are those of the Fund staff and should not necessarily be attributed to Executive Directors or their national authorities.
The World Economic Outlook has been published annually by the Fund since 1980. Since 1984, a shorter, updated version of the World Economic Outlook, containing revised projections, has also been published in the second half of the year.