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Money. Monetary policy --- Quantitative methods (economics) --- Inflation (Finance) --- International finance --- Economic stabilization --- Econometric models --- -Inflation (Finance) --- -International finance --- -International monetary system --- International money --- Finance --- International economic relations --- Adjustment, Economic --- Business stabilization --- Economic adjustment --- Stabilization, Economic --- Economic policy --- -Econometric models --- Inflation (Finance) - Econometric models --- International finance - Econometric models --- Economic stabilization - Econometric models

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International finance --- Banks and banking, Central --- Monetary policy --- Economic history --- Inflation (Finance) --- 330.35 --- 336.748.12 --- 336.74 --- -Inflation (Finance) --- -Monetary policy --- 332.41 --- 333.846.0 --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Finance --- Natural rate of unemployment --- Economic conditions --- History, Economic --- Economics --- Banker's banks --- Banks, Central --- Central banking --- Central banks --- Banks and banking --- Economische groei. Kwantitatieve toename. Technische vooruitgang --zie ook {338.09} --- Algemeen prijsniveau. Prijsindex. Prijsstijging --- Geld. Geldwezen. Monetaire sector. --- Verband tussen het monetair, bank- en kredietbeleid en de economische ontwikkeling: algemeenheden. --- 336.74 Geld. Geldwezen. Monetaire sector. --- 336.748.12 Algemeen prijsniveau. Prijsindex. Prijsstijging --- 330.35 Economische groei. Kwantitatieve toename. Technische vooruitgang --zie ook {338.09} --- Verband tussen het monetair, bank- en kredietbeleid en de economische ontwikkeling: algemeenheden --- Geld. Geldwezen. Monetaire sector --- Economic history - 1945

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The paper analyzes common issues emerging from the recent experience with Fund-supported programs in Hungary, Poland, Czechoslovakia, Bulgaria and Romania. These comprise the initial price-overshooting and the output collapse, fiscal sustainability as well as the financial and structural problems associated with bad loan portfolios and sluggish implementation of privatization programs. Substantial success, in varying degrees, has been achieved in the initial macro-stabilization and opening-up effort. At the same time mounting difficulties with fiscal and monetary control may be emerging, as a result of social and political pressures and insufficiently clear policy signals on the micro-issues involving the sharp structural transformation of the productive and financial systems.

Exports and Imports --- Foreign Exchange --- Inflation --- Macroeconomics --- Comparative or Joint Analysis of Fiscal and Monetary Policy --- Stabilization --- Treasury Policy --- Studies of Particular Policy Episodes --- Open Economy Macroeconomics --- Price Level --- Deflation --- Comparison of Public and Private Enterprises and Nonprofit Institutions --- Privatization --- Contracting Out --- Trade: General --- International Lending and Debt Problems --- International economics --- Currency --- Foreign exchange --- Exchange rates --- Exports --- External debt --- Prices --- Economic sectors --- International trade --- Debts, External --- Poland, Republic of

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