Front Matter

Front Matter

International Monetary Fund. Research Dept.
Published Date:
January 1989
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    © 1989 International Monetary Fund

    World economic outlook (International Monetary Fund)

    World economic outlook: a survey by the staff of the International Monetary Fund.—1980–—Washington, D.C.: The Fund, 1980—

    v.; 28 cm.—(1981–84: Occasional paper/International Monetary Fund ISSN 0251–6365)


    Has occasional updates, 1984–

    ISSN 0258 7440 = World economic and financial surveys

    ISSN 0256 6877 = World economic outlook (Washington)

    I. Economic history—1971–—Periodicals. I. International Monetary Fund.

    II. Series: Occasional paper (International Monetary Fund)




    Library of Congress [8507]

    Biannual: April, World Economic Outlook: September/October, World Economic Outlook, Revised Projections.

    ISBN 9781451944884

    Price: $25.00

    Address orders to:

    External Relations Department

    Attention: Publication Services

    International Monetary Fund

    Washington, D.C. 20431 U.S.A.

    Tel: (202) 623-7430

    Contents Pages

    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 (second half of February 1989) will prevail through the end of the forecast period; that “present” policies of national authorities will be maintained; and that the average price of oil will be $15 a barrel in 1989 and $15.60 in 1990. 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 20, 1989.

    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., 1988–89 or January-June) to indicate the years or months covered, including the beginning and ending years or months;

    / between years or months (e.g., 1988/89) 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 cover 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 biannually 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. The World Economic Outlook has been published annually since 1980 and biannually since 1984.

    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 15, 1989. The present version has benefited from comments made by Executive Directors. However, the descriptions of developments and policies that the report contains, as well as the projections for individual countries, are those of the Fund staff and should not be attributed to Executive Directors or their national authorities.

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