Is there still too much prescription and not enough discussion? Is the Fund’s endorsement of policies still so important for member countries, given the increased opportunities for funding provided by financial globalisation? And what are members to do when the assessments by the Fund and World Bank differ radically?
The year-on-year rate of change in consumer prices (excluding fresh food) has been close to zero percent, while temporary factors such as the rise in rice prices have exerted upward pressure, and is likely to be around zero percent for the time being.