This paper surveys some of the principal monetary policy issues facing countries of the former U.S.S.R. The emphasis is on the immediate problem of imposing financial discipline in these economies, to bring down inflation quickly and decisively. Possible options for the essential nominal anchor...

Sovereign debt ratios in advanced and emerging economies have grown to near record highs. In low-income countries, debt levels have been gradually building since the debt relief initiative of the early 2000s; furthermore, the debt burdens may be higher than the official estimates reveal, as...

This note outlines a scheme for mobilizing financing to help developing countries confront the challenges posed by climate change. The idea is to create a “Green Fund†with the capacity to raise resources on a scale commensurate with the Copenhagen Accord ($100 billion a year by 2020)....

In a world of increasing capital mobility and broadening and more diversified trade, many (but not all) developing and transition economies are likely to find it desirable to move from relatively fixed exchange rate regimes to regimes of greater exchange rate flexibility. This paper suggests...

This paper surveys some of the principal monetary policy issues facing countries of the former U.S.S.R. The emphasis is on the immediate problem of imposing financial discipline in these economies, to bring down inflation quickly and decisively. Possible options for the essential nominal anchor...