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Latin American Central Bank Reform: Progress and Challenges (EPub)
By:International Monetary Fund
Published on 2005-06-01 by International Monetary Fund
This study takes stock of the institutional reform of monetary policy in Latin America since the early 1990s. It argues that strengthening the legal independence of central banks, together with macroeconomic policies, was instrumental in reducing inflation from three-digit annual rates in the 1990s to single-digit territory in 2004. The paper also discusses the main challenges of monetary policy today, namely, achieving price stability, restoring market confidence in domestic currencies, and sticking to policy consistency despite adverse effects of the volatility of capital flows. Finally, recurrent banking crises and lack of fiscal discipline are identified as the main risks for the success of monetary policy in Latin America.
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Book ID of Latin American Central Bank Reform: Progress and Challenges (EPub)'s Books is 64n7bOr0AgEC, Book which was written byInternational Monetary Fundhave ETAG "Uvcy/aYZ1sY"
Book which was published by International Monetary Fund since 2005-06-01 have ISBNs, ISBN 13 Code is 9781452757230 and ISBN 10 Code is 1452757232
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