IMF research lends support to exchange rate liberalisation


A working paper, published by the International Monetary Fund on January 31, finds significant benefits resulted from efforts by sub-Saharan African countries to liberalise their exchange rate regimes in the 1980s and 1990s.

Nils Maehle, Haimanot Teferra and Armine Khachatryan examine the cases of Ghana, Kenya, Malawi, Tanzania, Uganda and Zambia, finding that where reforms were implemented and sustained, per capita income has increased rapidly and crises caused by foreign exchange shortages

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: