Czech Republic: Recent Economic Developments

International Monetary Fund

No 1996/147, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper describes economic developments in the Czech Republic during 1990–95. In 1991–93, quick progress was made in containing inflation, rebuilding foreign reserves, and restoring confidence in economic policies; and this was followed by resumption of growth in 1994. Financial and political stability and continued progress toward a market economy attracted large capital inflows in 1993–95. In spite of attempts to sterilize these inflows, monetary growth was rapid and fueled a boom in domestic demand, which in turn widened the current account deficit and maintained inflation at relatively high levels.

Keywords: ISCR; CR; enterprise; broad money; trading partner; interest rate; exchange rate; U.S. dollar; monetary policy; Capital inflows; Monetary base; Budget planning and preparation; Central and Eastern Europe (search for similar items in EconPapers)
Pages: 202
Date: 1997-01-23
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