Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account …

The analysis in this paper suggests that the large fiscal deficits that Pakistan has experienced over most of the … the inflation tax. Accordingly, continued effort is likely to be needed to attain a fiscal position that is sustainable …

consumption lost momentum, as households coped with rising inflation and higher indebtedness. …

3 percent. Recent indicators suggest that activity has continued to strengthen in 2004. During 2003, inflation … inflation. IMF staff projects that the economic recovery will gain momentum with GNP growth of 4½ percent in 2004, accelerating … slightly to 5 percent in 2005. Core inflation is forecast to stay close to 2 percent. …

Economic Modeling Division of the IMF for policy analysis and international economic research. Using a 5-region version of the …

policy framework should focus more on price stability. Establishment of an asset management corporation to clean up the bank …

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 …