Creating Policy Space in Low-Income Countries during the Recent Crises

By Paolo Dudine, Sibabrata Das, Pritha Mitra, Yongzheng Yang, Eteri Kvintradze, Nkunde Mwase

March 16, 2010

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Paolo Dudine, Sibabrata Das, Pritha Mitra, Yongzheng Yang, Eteri Kvintradze, and Nkunde Mwase. Creating Policy Space in Low-Income Countries during the Recent Crises, (USA: International Monetary Fund, 2010) accessed November 12, 2024

Disclaimer: The views expressed herein are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

Low-income countries were hit especially hard by sharp increases in world food and fuel prices in 2007-08 and the global financial crisis that followed. In response, the International Monetary Fund scaled up its financial assistance to low-income countries and revamped its concessional lending facilities to make them more flexible in meeting the diverse needs of these countries. Creating Policy Space in Low-Income Countries during the Recent Crises assesses empirically the outcome of the IMF response, and provides insight into how IMF-supported programs in low-income countries have been adapted to the changing economic circumstances in these countries. The authors report that these programs have provided expanded policy space in the face of the global price shocks and financial crisis.

Subject: Financial crises, Fiscal policy, Food prices, Fuel prices, Global financial crisis of 2008-2009, Inflation, Prices

Keywords: Balance of payments, Country, Country authorities, Current account, DP, DPPP, Economic activity, Fiscal policy, Food prices, Fuel price, Fuel prices, Global, Global financial crisis of 2008-2009, Inflation, LICs, Price, Social spending, Spending, The Fund

Publication Details

Pages:

54
Volume:

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DOI:

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Issue:

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Series:

Departmental Paper No 2010/002
Stock No:

CPSREA
ISBN:

9781589069305
ISSN:

2616-5333

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