This paper describes recently established deposit insurance systems, identifying emerging trends. In line with previous IMF work on the subject, it argues against the development of "best practices" applicable to all systems. Rather, it stresses the importance of incorporating each...

This collection of papers examines IMF-supported programs over the period 1995-2000 in both middle-income and low-income countries. In order to seek insights from a comparison across different types of programs, the sections entitled"Objectives and Outcomes," "Policy Formulation and Analytical...

Developments in the countries of the CFA franc zone in the aftermath of the January 1994 devaluation of the CFA franc are reviewed in this paper. Following a summary of the new adjusment strategy, the papers describes the progress made and the difficulties encountered during 1994 and early 1995...

This Occasional Paper provides an overview of the main challenges facing Hong Kong SAR as it continues to become more closely integrated with the mainland of China. Section I provides an overview of recent macroeconomic developments and the main policy issues in Hong Kong SAR. Section II...

When policymakers have little option but to consider a sizable fiscal adjustment, they are confronted by the following questions: Can a large fiscal adjustment be implemented succesfully? How is a large adjustment best designed and implemented? What will be its impact on the economy? This...

Volume 26 of the Collected Writings of John Maynard Keynes records for the first time a strange episode in the development of the International Monetary Fund.

This paper analyzes global commodity trends and concludes that the marked decline in real commodity prices of the past decade should be regarded as largely permanent and irreversible. The authors contend that the analysis of commodity prices should be extended to include the role of the...

Are the three Baltic countries, Latvia, Estonia, and Lithuania, ready for accession to the European Union? Have their economies overcome the problems of transition? The answers to these questions and their implications for policy are provided in this collection of analyses. Rather than a...

This paper provides an overview of the recent revenue performance in the Baltics, Russia, and other countries of the former Soviet Union, and a survey of these countries efforts to modify tax policy in line with the needs of increasingly market-oriented economies and to increase the...