IMF-supported adjustment programs aim to restore economic growth, while bringing about a sustainable balance of payments position. Achievement of these goals requires coordinated use of a variety of policy meansures, including monetary and fiscal, exchange rate, external debt management, and...

The book focuses on the recent experience of Latin America economies with designing, announcing, and implementing monetary policies with different internal and external anchors. Given the often dismal track record of monetary stabilization in Latin America, it deals primarily with the conditions...