This paper summarizes the IMF advice on the ruble area as it was presented to the national authorities in Russia, the Baltic countries, and other states of the former Soviet Union in 1991-93. In the course of doing so, the paper corrects some misperceptions that have arisen about the IMF's role....

This paper summarizes the IMF advice on the ruble area as it was presented to the national authorities in Russia, the Baltic countries, and other states of the former Soviet Union in 1991-93. In the course of doing so, the paper corrects some misperceptions that have arisen about the IMF's role....

The paper analyzes the opportunity costs of current agricultural policies in Turkmenistan. It argues that the opportunity costs of continuing with these policies is very high for the budget, the average farmer, and the economy as a whole. The paper calls for the development of nontraditional...

The paper offers specific inputs to the debate on local content promotion in the oil industries of West Africa and Central Asia. To this end, we document the international experience with local content promotion to derive best practices in the field. We then use a case study approach to devise a...

This paper reviews the economic conditions in central Asia at the time of the Russian financial crisis of August 1998, the channels by which the crisis was transmitted to the central Asian region, and the policy responses. The paper concludes that, although real exchange rates of central Asian...

This paper attempts to offer specific inputs to the debate on local content promotion in the oil industry, using the specific case of São Tomé and Príncipe as point of reference. Our approach emphasizes inter-sectoral linkages and institutional pre-conditions for local content promotion....

Spain's participation in European integration has strengthened its policymaking credibility and created an enviroment conducive to sustainable economic growth. Over the last decade, Spain has seen improvements in inflation, output, employment, and its balance of payments, and it has...