Economic adjustment and reform in low-income countries
By: studies by the staff of the International Monetary Fund ; edited by Hugh Bredenkamp, Susan Schadler.
Contributors: Bredenkamp, Hugh.; Schadler, Susan.
Publisher: International Monetary Fund
Published: 1999
Place of publication: Washington, D.C
Language: eng
Number of pages: 276
Subjects: International Monetary Fund.; Structural adjustment (Economic policy) -- Developing countries.; Debts, Public -- Developing countries.
Description: In the aftermath of the debt crisis of the early 1980s, many of the IMF's poorest member countries embarked on far-reaching programs of adjustment and economic reform. The severity and structural nature of the economic problems to be addressed suggested a need for longeer-term financial support than that available under the IMF's conventional instrument for members' use of its resources, the Stand-by Arrangement. At the same time, fiven the low per capita incomes and typically large external debts of the countries concerned, there was a desire in the international community to ease the burden of new IMF loans by offering them to eligible borrowers on highly concessional terms.
Notes: Includes bibliographical references.