Front Matter Page
Finance & Development
Bahram Nowzad
EDITOR
Shuja Nawaz
MANAGING EDITOR
Rachel Weaving
ASSISTANT EDITOR
Sheila Meehan
EDITORIAL OFFICER
Richard Stoddard
ART EDITOR
Joan Wolbìer
GRAPHICS ARTIST
ADVISORS TO THE EDITOR
Andrew Crockett
Vinod Dubey
Howard Handy
Gregory Ingram
Paul Isenman
Arturo Israel
Claudio Loser
Guy Pfeffermann
Alexander Shakow
Alan Tait
U Tun Wai
David Williams
Finance & Development is published quarterly in English, Arabic, Chinese, French, German, Portuguese, and Spanish by the International Monetary Fund and the International Bank for Reconstruction and Development, Washington, DC 20431, USA (USPS 123-250). Second class postage is paid at Washington, DC and at additional mailing offices. • English edition printed at Lancaster Press, Lancaster, PA. • English edition ISSN 0015-1947. • Opinions expressed in articles and other material are those of the authors; they do not necessarily reflect Fund or Bank policy. • New readers who wish to receive Finance & Development regularly should apply in writing to Finance & Development, International Monetary Fund, Washington DC 20431, USA, specifying the language edition and briefly stating the reasons for their request. • The contents of Finance & Development are indexed in Business Periodicals Index, Public Affairs Information Service (PAIS), and Bibliographie Internationale des Sciences Sociales. An annual index of articles and book reviews is carried in the December issue.
IMPORTANT
Remember to return your subscription renewal card
Readers who have received Finance & Development for three years or who last renewed their subscription three years ago will shortly receive a subscription renewal card. Return your renewal card immediately, by air mail. Otherwise your name will be dropped from our mailing list.
Front Matter Page
Enhancing the effectiveness of surveillance
The Fund’s oversight of economic policies
G. G. Johnson
Food security and poverty in LDCs
Raising incomes, not just food supplies, is the key
Shiomo Reutlinger
Trends in grain consumption in the developing world, 1960-80
Donald Mitchell
World economy in transition
Food production and prices
The deficit experience in industrial countries
Fiscal deficits in their domestic and international setting
Vito Tanzi
Financial reform in China
Complementing the economic reform
Luc De Wulf
Unifying multiple exchange rates
The practical issues involved
José Saul Lizondo
Special Section Investing in development: lessons of World Bank experience
The conclusions of a major introspective review
Warren Baum and Stokes Tolbert
Foreign currency options
Reducing exchange risks: an innovative approach
Robert Feldman
Privatization and the public sector
Shifting activities to the private sector
Samuel Paul
Industrial restructuring in developing countries
The need and the means
Anil Sood and Harinder Kohli
Cooperating for growth and adjustment
The 1985 Annual Meetings of the Bank and the Fund
Charles Applegate and Susan Fennell
The Multilateral Investment Guarantee Agency: an update
Books
The global assembly line; decision making in international organizations; policy making in Mexico; managing and analyzing risk; OPEC investments; performance and prospects in industrial countries; energy policy; basic needs; and housing finance; reviewed by Yung Whee Rhee; Robert Effros; Eduardo Wiesner; Bahram Nowzad; David Goldsbrough; James Boughton; A. Ferroukhi; Pierre Landell-Mills; and Bertrand Renaud
Letters
Index 1985
The Editor welcomes views and comments from readers on the contents of the journal. The contents of Finance & Development may be quoted or reproduced without further permission. Due acknowledgement is requested.