The Stabilizing Role of the Compensatory Financing Facility : Empirical Evidence and Welfare Implications

Empirical Evidence and Welfare Implications

Purchases under the compensatory financing facility, the IMF's largest special facility, accounted for more than one quarter of total credit extended by the IMF over the period 1976 to 1985. Given the size of these operations, it is of some interest to determine to what extent the facility served its intended purpose-the stabilization of foreign... READ MORE...

Publication date: December 1988
ISBN 9781451946284

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Publication date: December 1988


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