successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative ½ of …

This paper investigates the impact of low or high inflation on the public debt-to-GDP ratio in the G-7 countries. Our … simulations suggest that if inflation were to fall to zero for five years, the average net debt-to-GDP ratio would increase by … about 5 percentage points over the next five years. In contrast, raising inflation to 6 percent for the next five years …

, and inflation stayed within the official target range. A very strong policy framework—comprising an inflation … crisis, and skillful policy management helped maintain strong growth with low inflation. …

Colombia’s economy has been resilient to the adverse global shocks of recent years. Inflation has been subdued … upward pressure on the Colombian peso. In 2013, growth is expected to rise and inflation to remain on target. Short …

in activity alongside high inflation. Executive Directors have welcomed the commitment made in the 2008 budget to tighten …

will help to ensure rise in productivity, exports, and inflation pickup and reduce the foreign exchange risk. …