IMF Staff papers : Volume 39 No. 4.

Common issues emerging from the recent experience with IMF-supported programs in Hungary, Poland, Czechoslovakia, Bulgaria, and Romania are analyzed. These comprise the initial price overshooting and output collapse and the financial and structural problems associated with bad loan portfolios and sl...

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Detalhes bibliográficos
Autor Corporativo: International Monetary Fund. Research Dept
Formato: Periódico
Idioma:English
Publicado em: Washington, D.C. : International Monetary Fund, 1992.
coleção:IMF Staff Papers; IMF Staff Papers ; No. 1992/004
Acesso em linha:Full text available on IMF
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520 3 |a Common issues emerging from the recent experience with IMF-supported programs in Hungary, Poland, Czechoslovakia, Bulgaria, and Romania are analyzed. These comprise the initial price overshooting and output collapse and the financial and structural problems associated with bad loan portfolios and sluggish implementation of privatization programs. Substantial success has been achieved in the initial microstabilization and opening-up effort. But difficulties with fiscal and monetary control may be emerging as a result of social and political pressures and unclear policy signals on the micro issues involving the structural transformation of the productive and financial systems. 
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