Food and Fuel Prices-Recent Developments, Macroeconomic Impact, and Policy Responses-An Update / International Monetary Fund.

Format:

Book

Author/Creator:

International Monetary Fund, author, issuing body.

Series:

Policy Papers ; Volume 2008: Issue 058

Language:

English

Subjects (All):

Petroleum products--Prices.

Petroleum products.

Physical Description:

1 online resource (20 pages).

Place of Publication:

Washington, D.C. : International Monetary Fund, 2008.

Summary:

This report updates the macroeconomic assessment of the impact of global food and fuel price increases provided in the IMF June 2008 Board paper: Food and Fuel Prices-Recent Developments, Macroeconomic Impact, and Policy Response. Food and oil prices peaked in early summer-in particular, oil prices surged to levels envisaged under the most adverse scenario presented in the June paper. Against this background, the effects of higher prices on the balance of payments, budgets, and domestic prices intensified and a large group of low- and middle-income countries is experiencing a substantial weakening of their balance of payments and higher inflation. These findings reinforce the importance of adopting appropriate policies to maintain macroeconomic stability while protecting the poor.

Contents:

Executive Summary

I. Introduction

II. An Update on Fuel and Food Price Developments

III. Macroeconomic Impact

A. Balance of Payments Impact

B. The Impact on Inflation

IV. Countries' Policy Responses.

A. Fiscal Responses to Rising Food and Fuel Prices

B. Monetary, Exchange Rate, and Trade Policies

V. Fund Financial Support.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9781498374415

1498374417