This paper is Part I of a two-volume study conducted as a part of the IMF's ongoing process of evaluating its lending facilities. It focuses on IMF-supported programs and macroeconomic performance during 1988-92, reflecting information available through the end of 1993. Part I provides an overview of the experiences during the arrangements reviewed: it describes the initial conditions faced in these countries, the adjustment strategies adopted, the degree to which programs were implemented, and the extent of sustained adjustment experienced.
Following the United States led military intervention in Afghanistan in 2001, the Taliban regime collapsed and a new interim government was established, with a new constitution signed and elections subsequently held in 2004. This publication examines the progress made to rebuild Afghanistan's economy and key institutions in the post-conflict environment, as well as discussing the challenges that remain. Chapters consider a range of issues including: a review of the political landscape, aid assistance programmes and the role of the IMF; recent macroeconomic developments, including policies to tackle poppy cultivation and opium production; the fiscal framework and the budget, including the National Program for Reconstruction; structural reforms, including reforming revenue policy and administration, and revitalising the civil service; monetary and exchange rate policy, including the choice of exchange rate regime; and financial sector developments, including legal aspects, the position of the central bank Da Afghanistan Bank, commercial banking, and the informal hawala system.
This study examines the links between adjustment policies and growth in a small group of developing countries- Bangladesh, Chile, Ghana, India, Mexico, Morocco, Senegal, and Thailand - during 1970 -93. It provides an overview of the adjustment and growth experience, examines in depth several policy issues of particular interest, and distills the principal policy lessons for the design of adjustment policies.
This paper reviews the IMF's policy advice in two areas of social policy: social safety nets and spending on education and health care. It was initiated as part of the work by the World Bank and IMF to strengthen the poverty focus of adjustment programmes in low-income countries. It looks at the lessons learnt from experience and sets out proposals for strengthening the social content of IMF supported programmes.
Since the mid-1960s, Thailand's growth performance has been exceptional. Although hard hit by the external shocks fo the late 1970s and the early 1980s that proved severely destabilizing to many developing countries, Thailand showed remarkable reslience: price stability was quickly restored, and the Thai economy emerged from this period with strong recovery in growth and investment, in an environment of overall macroeconomic stability. This study examines the evolution of investment and growth and Thailand's macroeconomic and structural policies, with a view to understanding the main factors that have led to this impressive economic performance.
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