Finance & Development articles from September 1992

Finance & Development archives from September 1992

A tenth anniversary report on the debt crisis.
September 1, 1992... A number of middle-income developing countries have now put the debt crisis behind them, but for many others--especially the poorest--a great deal remains to be done Ten years have passed since Mexico's inability to service its debts triggered...

Recent innovations in debt restructuring.
September 1, 1992... Debt and debt service reduction, together with sound policies, has strengthened the economic prospects of a number of countries The recent agreements with commercial banks on debt reduction packages for Argentina and Brazil and the...

Managing domestic public debt.
September 1, 1992... Domestic public debt of externally indebted developing countries increased sharply during the 1980s. How this debt is managed can help or hurt adjustment programs Ever since the onset of the debt crisis in 1982, a great deal of attention has...

How can developing countries hedge their bets? (includes related articles)
September 1, 1992... By using market-based risk management techniques, developing countries can protect themselves from external volatility For the past two decades, developing countries have been contending with highly volatile international prices--exchange...

Cleaning up Eastern Europe. (environmental management in Eastern Europe)
September 1, 1992... Contrary to doom and gloom scenarios, environmental conditions can be greatly improved with sensible policies and modest investments Our image of Eastern Europe these days has been greatly influenced by graphic reports of the environmental...

The road from Rio. (results of the 1992 United Nations Conference on Environment and Development held in Rio de Janeiro, Brazil)
September 1, 1992... In June 1992, over 30,000 people met in Rio de Janeiro for the long-awaited United Nations Conference on Environment and Development (UNCED)--the "Earth Summit." The gathering involved 120 heads of state and government and their delegations,...

When will Eastern Europe catch up with the West?
September 1, 1992... While the high productivity of capital augurs well for growth over the next five years, substantial structural reform be needed to unleash investment and mobilize savings Although there is no doubt that recent revolutionary changes in the...

A single currency for the European Community.
September 1, 1992... The Maastricht agreement provides a blueprint for a European economic and monetary union The past five years have seen a remarkable acceleration of economic integration in Western Europe. The meeting of European heads of state and government...

OPEC and a new oil order.
September 1, 1992... OPEC survived the recent Middle East crisis, but the road ahead is still tortuous With the outbreak of hostilities between Iraq and Kuwait in August 1990, some 4.5 million barrels a day (mb/d) of crude oil were withdrawn from the market, and...

What is "policy switching"?
September 1, 1992... A new approach to understanding how people behave during an economic crisis and how they prepare themselves in anticipation of discrete policy changes Changes in economic conditions and policies create challenges for policymakers implementing...

The fiscal dimensions of adjustment.
September 1, 1992... How do we judge the overall fiscal performance of low-income countries that have undertaken adjustment? Fiscal adjustment--comprising both stabilization and structural reform--is at the core of most IMF-supported programs. But how have...

How to measure the fiscal deficit.
September 1, 1992... New thinking on alternative fiscal deficit measures A primary objective of fiscal policy is to balance the use of resources of the public and private sectors and, by so doing, to avoid inflation and balance of payments pressures. The correct...

Economic adjustment and private investment.
September 1, 1992... How has private investment fared in the last decade? Findings from recent research A decade ago, the debt crisis and the global shocks affecting developing countries set off a protracted period of macroeconomic instability and a drop in...