Front Matter

Front Matter

International Monetary Fund
Published Date:
September 1987
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    Theoretical Aspects of the Design of Fund-Supported Adjustment Programs

    A Study by the Research Department of the International Monetary Fund

    International Monetary Fund

    Washington, D.C.

    September 1987

    © International Monetary Fund, 1987

    Reprinted March 1995

    Cataloging-in-Publication Data

    Theoretical aspects of the design of Fund-supported adjustment programs : a study / by the Research Department of the International Monetary Fund—Washington, D.C. : International Monetary Fund, 1987

    v, 51 p. ; (Occasional paper ; no. 55)

    “Originally prepared for a seminar of the Executive Board of the fund”—P. v.

    Bibliography: p. 48–51.

    1. International Monetary Fund—Developing countries. 2. Developing countries—Economic policy. 3. Economic stabilization—Developing countries. 4. Loans, Foreign—Developing countries, I. International Monetary Fund. Research Dept., II. Series: Occasional paper (International Monetary Fund) ; no. 55.

    HG3881.5.158T435 1987

    ISBN 0-939934-99-X

    Price: US$7.50

    (US$4.50 university libraries, faculty members, and students)

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    The following symbols have been used throughout this paper:

    • … 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., 1979–81 or January–June) to indicate the years or months covered, including the beginning and ending years or months;

    • / between years (e.g., 1980/81) to indicate a crop or fiscal (financial) year.

    “Billion” means a thousand million.

    Minor discrepancies between constituent figures and totals are due to rounding.

    Prefatory Note

    This study was prepared in the Research Department of the International Monetary Fund. It was drafted by Michael P. Dooley, Morris Goldstein, Mohsin S. Khan, Malcolm D. Knight, Anthony Lanyi, Donald J. Mathieson, Peter J. Montiel, and Rudolf R. Rhomberg. The paper has benefited from comments by staff in other departments and was edited by Juanita Roushdy of the External Relations Department.

    The paper was originally prepared for a seminar of the Executive Board of the Fund. In the seminar, Executive Directors expressed a broad range of views with regard to both the adequacy of the Fund’s approach to financial programming and the validity of the analysis presented in this paper. While the present version reflects comments and suggestions made by a number of Executive Directors, it would have been impossible to comprehend the entire range of their views. Consequently, the paper should be taken as expressing solely the views of its authors and not those of either Executive Directors or the Fund.

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