Front Matter Page
INTERNATIONAL MONETARY FUND
Food and Fuel Prices—Recent Developments, Macroeconomic Impact, and Policy Responses An Update
Prepared by the Fiscal Affairs, Strategy, Policy, and Review, and Research Departments
(In consultation with the other departments)
Approved by Teresa Ter-Minassian, Reza Moghadam, Olivier Blanchard
September 19, 2008
Contents
Executive Summary
I. Introduction
II. An Update on Fuel and Food Price Developments
III. Macroeconomic Impact
A. Balance of Payments Impact
B. The Impact on Inflation
IV. Countries’ Policy Responses.
A. Fiscal Responses to Rising Food and Fuel Prices
B. Monetary, Exchange Rate, and Trade Policies
V. Fund Financial Support