IMF working paper studies impact of financial crisis on low-income countries


A working paper published by the International Monetary Fund (IMF) on April 10 assesses the impact of the financial crisis on lower-income countries (LICs), and concludes that the initial policy responses in those countries contributed to the negative impact of the crisis in these regions.

Authors Alfredo Baldini, Jaromir Benes, Andrew Berg, Mai Diao and Rafael Portillo, use Zambia as a case study for their research.

The researchers begin by assessing the "three related shocks" that contributed

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