Many sub-Saharan African (SSA) countries liberalized their economies in the 1980s and early 1990s. This paper reviews the foreign exchange regime reforms in selected SSA, and their associated macroeconomic policies and economic performance during and after these reforms were undertaken. Before...

The staff report on the Ex Post Assessment of Longer-Term Program Engagement for the Republic of Azerbaijan highlights macroeconomic performance and fiscal policy. On the structural front, significant progress was achieved in fiscal management, the privatization of small- and medium-size...

The paper examines factors affecting exchange rate volatility, with an emphasis on structural features of the foreign exchange regime. It draws for the first time on detailed survey data collected by the IMF on foreign exchange market organization and regulations. Key findings are that...