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Implications for IMF Policies arising from Effects on Developing Countries of Industrial-Country Macroeconomic Policies

  • Azizali F. Mohammed

Abstract

A study of the effects on developing countries of the macroeconomic policies of industrial countries was commissioned by the Intergovernmental Group of Twenty-Four on International Monetary Affairs (G-24); it was submitted to the Ministers at their meeting in Washington on 25 September 1993. In welcoming the study, the Ministers ‘drew attention to the study’s principal conclusion that performance of the developing countries is not only affected by industrial-country policies, but also directly affects the prospects for growth in the industrial world’. Ministers called on the Fund ‘to continue work on the interdependencies between industrial and developing country policies as an integral part of its surveillance responsibilities’ (IMF, 1993c, p. 334). Other conclusions of the study (referred to hereafter as the G-24 study) are summarized in the annex to this paper.

Keywords

World Trade Organization Real Interest Rate Capital Flow Recipient Country Current Account Deficit 
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© UNCTAD 1996

Authors and Affiliations

  • Azizali F. Mohammed

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