Schwartz, Gerd; Rabanal, Pau; Bléjer, Mario I.; Leone, … - International Monetary Fund (IMF) - 2001
This paper argues that the IMF's traditional monetary conditionality-a ceiling on net domestic assets of the central … bank and a floor on its net international reserves-should be adapted in IMF-supported adjustment programs with countries … established under the IMF-supported adjustment program, as well as between the different instruments used to achieve the policy …