Inflation targeting (IT) serves as monetary policy framework in several advanced economies, where it has enhanced policy transparency and accountability. The paper considers its wider applicability to developing countries. The prerequisites for a successful IT framework are identified as an...

This essay considers strategies that developing and emerging-market economies might use when seeking to exit from currency pegs. It also considers techniques for completing the move to greater flexibility, as well as the scope for adopting inflation targeting as a nominal anchor following an...

The surge in private capital flows to developing countries during the 1990s has largely by-passed sub-Saharan Africa. In sharp contrast to the earlier lending boom of 1977-82, when sub-Saharan Africa accounted for 8.9 percent of total private flows to developing countries, the region accounted...