Can developing countries enhance credibility with international markets by adopting a hard currency peg? In this paper we review the hypothesis that adherence to the gold standard facilitated the access of peripheral countries to European capital markets in the first era of financial...

Pakistan’s authorities have requested a 23-month Stand-By Arrangement for SDR 5.169 billion in support of their macroeconomic stabilization program. The authorities’ program envisages a tightening of fiscal and monetary policies to bring down inflation and reduce the external...

India’s strong growth and macroeconomic stability is owed to its sound macroeconomic policies and past structural reforms. Swelling capital inflows have highlighted the key policy challenges: managing financial globalization and tackling the supply constraints to growth. Monetary...

Sudan’s economic prospects are good, but risks remain. The report states that strong actions were taken for Government Finance Statistics Manuals and Guides (GFSM) implementation for monitoring domestic arrears under the Staff-Monitored Program (SMP). The need to maintain macroeconomic...

Real GDP growth for 2010 has been revised upward to 6.3 percent, and annual CPI inflation has increased to about 10 percent. End-December performance criteria (PC) are expected to be met, with the exception of the fiscal deficit and general government expenditure targets owing to the late...

Foreign investors may finance and benefit from environmentally damaging activities, but then escape liability because victims of such harm are unable to obtain remedial relief from their domestic judicial system. A debated response to this problem is the idea that foreign investors be held...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.