This paper evaluates the performance of two alternative policy rules, a forward-looking rule and a spontaneous adjustment rule, under alternative inflation targets, in terms of output losses in a macroeconomic model, using European Union data. The simulations suggest that forward-looking rules...

Burkina Faso's sustained adjustment effort has been supported by the IMF under successive programs since 1991. Macroeconomic performance was favorable in 1999. Monetary policy is conducted at the regional level by the Central Bank for West African States and remained prudent. In 1999 and early...

Five priority programs were identified to help stabilize the economy and lay the groundwork for equitable growth. The government's priority with this core strategy is to enhance macroeconomic management, government operations, and effective fiscal management to promote domestic and international...

This paper examines Cambodia’s 2002 Article IV Consultation and Sixth Review Under the Poverty Reduction and Growth Facility (PRGF). Supported by inflows of development aid, economic activity regained vitality in 1999. The government’s macroeconomic strategy, which was supported by a PRGF...