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adjustment Andrew Weiss assess Baak balance sheet billion FMG budget constraints Capital Account capital gains CB losses Ceatnl Central Bank losses central government commercial banks countries credit to government Current Account debt service payments development strategy dLNb Domestic Credit domestic debt End-of-period exchange rate devaluations exports February 1993 February fiscal deficit fiscal effort flow-of-funds foreign assets foreign currency foreign debt foreign liabilities foreign reserves framework gains or losses GDP Deflator government accounts government deficit Government Deposits impact of quasi-fiscal implicit interest rate increase interest payments interest rate paid investment macroeconomic Madagascar methodology monetary activities monetary base Nominal interest rate non-financial public sector normal percent private sector profit public enterprises public financial institutions public sector deficit QF activities quasi-fiscal activities quasi-fiscal deficits reflected rescheduled external debt result revenues and expenditures Robinson and Stella seigniorage subsidized credit Table Teijeiro terms of trade Total transfers valuation account World Bank