This paper, following two earlier studies, reviews the arrangements for restructuring commercial bank and official debt up to early 1985.

This paper provides a description and analysis of recent developments in international capital markets and an assessment of the prospects for private financing flows.

The external indebtedness of non-oil developing countries has been of growing concern in recent years. Several factors have brought the debt issue to the forefront of the problems facing a number of countries, including the rapid rise in extenal debt in the recent past, changes in the...

This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...

This paper analyzes the impact of relative prices on the non-oil trade account in Indonesia, with special emphasis on the effectiveness of the exchange rate adjustment of November 1978. An exchange rate adjustment can successfully redirect resources into export and import-competing activities...

Some researchers have recently introduced productive government investment spending into Dynamic stochastic general equilibrium (DSGE) models, adding a supply channel. This paper takes a similar perspective but it also introduces the government consumption good into the household utility...