This paper reviews the rationale for programs and then evaluates the design, implementation, and effectiveness of Bank-supported adjustment programs and discusses lessons that have emerged from the analysis of adjustment problems and programs. In countries that are experiencing acute macroeconomic imbalances manifested in the form of high fiscal deficits, balance of payments crisis and high open or repressed inflation, adjustment should start with...
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1991/01/31
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Documento de trabalho sobre pesquisa de políticas
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WPS582
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1
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1
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2010/07/01
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Adjustment programs and Bank support : rationale and main results
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real interest rate on deposits
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