Author: Mr. Louis Dicks-Mireaux, Mr. Miguel A Savastano, Mr. Adam Bennett, Ms. María Vicenta Carkovic S., Mr. Mauro Mecagni, Mr. James A John, and Ms. Susan M Schadler
This paper is Part I of a two-volume study conducted as a part of the IMF's ongoing process of evaluating its lending facilities. It focuses on IMF-supported programs and macroeconomic performance during 1988-92, reflecting information available through the end of 1993. Part I provides an overview of the experiences during the arrangements reviewed: it describes the initial conditions faced in these countries, the adjustment strategies adopted, the degree to which programs were implemented, and the extent of sustained adjustment experienced.
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