ABSTRACT
Macroeconomic stabilization and structural reform are both essential to sustain and reinforce each other for success in economies in transition. Resumption of growth and progress against inflation in countries that persevere in implementing programs supported by the Bretton Woods Institutions stand in contrast to the intensifying problems in countries where programs stalled due to the lack of persistent application. The gradualist approach has clearly not succeeded.
Two issues are of critical importance to the future success of Bretton Woods Institution programs: the installation of social safety nets to protect the most vulnerable elements of the population and the provision of credit to emerging enterprises.
