Mr. Alejandro Izquierdo, Ward Brown, Mr. Brian Ames, and Shatayanan Devarajan
This pamphlet excerpts a chapter on macroeconomic policy from the Poverty Reduction Policy Source book, a guide prepared by the World Bank and IMF to assist countries in developing and strengthening their poverty reduction strategies. It probes the relationship between macroeconomic policy matters, such as growth and inflation, and the fight against poverty, and explains how sound monetary and fiscal policies-key tools of the macroeconomist-can help to spur growth and ease poverty.
This pamphlet reports on how the enhanced Initiative for Heavily Indebted Poor Countries (HIPCs) is meeting its aim of delivering faster, broader, and deeper debt relief to more HIPCs once these countries have shown a commitment to put the freed-up funds to work for the poor. The pamphlet also includes introductory sections that explain the rationale for the HIPC Initiative and describe how it works. A concluding section discusses the Initiative’s top challenge in the year ahead: to bring the remaining eligible countries to their decision points under the Initiative as fast and realistically as possible.
During his tenure as Managing Director of the IMF, and in his interactions with civil society, Michel Camdessus was asked many questions related to the IMF's role in development. This pamphlet collects questions frequently asked by civil society around the world and the responses given by Mr. Camdessus that help to clarify the IMF position on human development.
This paper analyzes the IMF’s Enhanced Initiative for Heavily Indebted Poor Countries, which provides debt relief for low-income countries. The paper highlights that countries affected by the debt crisis of the 1980s received concerted support from the international financial community in the form of Paris Club flow reschedulings, stock-of-debt operations under the Brady plan, and adjustment programs supported by the multilateral financial institutions. These measures proved effective in significantly improving the debt situation of many middle-income countries.
In recent years, observers have called on the IMF to pay closer attention to certain issues that do not fall directly within its mandate, such as the environment. This booklet reviews IMF's approach to environmental issues and when and how the IMF integrates environmental concerns into its work.
This pamphlet focuses on the IMF's role in social policy advice. First,the evolution of the IMF's involvement in social issues is traced,and the lessons that can be drawn from this experience, includingpolicy implications, are outlined. This is followed by an elaboration of the social dimensions of IMF policy advice to member countries underits two major activities: surveillance of economic policies and financial support for adjustment programs. The IMF's collaboration onsocial issues with the World Bank and UN agencies is examined, and theconclusion focuses on ways to further strengthen the IMF's contributionto social development.