This volume provides a practical treatment of how to formulate a macroeconomic adjustment program. The selection of macroeconomic policies oriented to reestablish or maintain internal and external equilibrium, and their incorporation in a quantitative framework that encompasses the diverse sectors of the economy, constitutes a financial program. Preparation of a country’s financial program is a central element of courses offered by the IMF Institute. The focus here is on the case of Colombia during the period 1991–96, toward constructing an illustrative program for 1997. The book is accompanied by a CD-ROM (supplied in a back-cover pocket) containing data tables needed to complete exercises given in the text. Contributors: Adolfo Barajas, Luis Carranza, Graciana del Castillo, Thomas Lehwing, and Alejandro López-Mejía.
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