Designing Monetary and Fiscal Policy in Low-income Countries
Abebe Aemro Selassie, Benedict Clements, International Monetary Fund, International Monetary Fund Staff, Medzinárodný menový fond, Gabriel Di Bella, Jan Kees Martijn, Shamsuddin Tareq
International Monetary Fund, 2006 - Business & Economics - 49 pages
Macroeconomic outcomes in low-income countries (LICs) have improved markedly in recent years, but important questions remain regarding possible adjustments in the design of IMF-supported programmes. This paper draws on the experience of LICs that have successfully addressed the most apparent domestic macroeconomic imbalances, as well as a literature review. Although it focuses on a group of 15 mature stablisers, the paper also considers issues of relevance to other Poverty Reduction and Growth Facility (PRGF) supported programmes, including increasing capacity to absorb foreign aid and improving efficiency of public spending.
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