This is the first of a group of papers dealing with various aspects of Fund-supported adjustment programs. The other two, The Global Effects of Fund-supported Adjustment Programs by Morris Goldstein and Fund-Supported Programs, Fiscal Policy, and Income Distribution by the Fiscal Affairs...

The macroeconomic effects of scaling up aid -- Managing the real exchange rate -- Using monetary policy for sterilization and inflation management -- Mobilizing adequate domestic revenues -- Projecting the impact of increased aid on economic growth -- Meeting other fiscal challenges --...

Preface : Redefining Development / Muhammad Yunus -- Introduction / Kevin Danaher -- World Bank/IMF : 50 years is enough / Bruce Rich -- Global economic counterrevolution : how northern economic warfare devastates the south / Walden Bello -- IMF/World Bank wreak havoc on Third World / Davison...

In late 1999 the IMF established the Poverty Reduction and Growth Facility (PRGF) to integrate the objectives of poverty reduction and growth more fully into its operations for the poorest countries, and to base these operations on national poverty reduction strategies prepared by the country...