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The International Monetary Fund (IMF) was originally mandated to maintain exchange rate stability and adjustment of external imbalances in member countries and to act as a lender for countries facing short-term balance-of-payment crises. With the breakdown of the fixed exchange rate system, the IMF had to adjust its role in exchange rate management. The international banking crisis in the 1980s required a recalibration of IMF policies. Most of the policies in the 1980s and 1990s were driven by “Washington Consensus,” a doctrinaire view of economic development that called for structural adjustment through market liberalization and privatizations. However, critics indicate that the IMF, by failing to consider the unique conditions in developing economies and lumping them under a “one size fits all,” category may have caused more damage than good. In addition, it was alleged that IMF loans imposed unrealistic conditions on borrowers. All these policies are under review now in a quest for appropriate policies that will address some of these concerns and aid economic development. This paper provides a brief review of IMF policies from a historical perspective and a critique of IMF policies over the last few decades.

<span>The persistence of the U.S. trade deficit despite the significant depreciation of the dollar in the second half of the 1980s prompted several studies seeking an explanation for this phenomenon. There has been a renewed interest on the exchange rate trade linkage as the U.S. trade deficit reached a record high despite steady depreciation of the dollar in early 1995. This paper presents an empirical analysis of the relationship between real exchange rate and U.S. exports to Canada and Japan. The major finding of this paper is that real income and real exchange rates changes are important determinants of bilateral trade flows.</span>

This paper focuses on the impacts of water stress on health outcomes. It specifically investigates the health effects of insufficiency of water for sanitary needs in drought-affected households. A focus group discussion that drew medical experts from such fields as medicine, virology, and microbiology was conducted to collect data. The findings of the study show that there is a possibility of vulnerability to negative health outcomes such as Cholera, Diarrhea, and respiratory problems by households that lack the necessary levels of water for domestic, sanitation, and hygiene uses. It is therefore important that individuals and households susceptible to the vagaries of drought be aware of this relationship so that they may forge necessary adaptive measures such as the use of purifiers, hand and surface sanitizers, and disinfectants to mitigate the health effects of a drought that are related to inadequate water use for sanitary purposes.