This text provides guidance to policymakers on how to design and implement sound price-subsidy reforms. It draws on the experience of price-subsidy reform in 28 countries. The authors discuss economic and political considerations and make several recommendations concerning the speed of reform...

The IMF is increasingly emphasizing ""high-quality growth"" - that is, growth that is sustainable, that is accompanied by appropriate domestic and external balances, that respects the environment, and that is aided by policies that reduce poverty and foster greater equity. This pamphlet focuses...

Expenditure arrears, signifying prolonged delays in the government meeting its financial obligations to suppliers and creditors, have become an increasingly common feature of government operations in many developing countries. This paper indicates the significance of arrears in distorting...