01798cas a2200253 a 4500 AALejournalIMF002586 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451859058 1018-5941 BD-DhAAL BD-DhAAL Keller, Peter. Nominal Anchors in the CIS / Peter Keller, Thomas Richardson. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (42 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Monetary policy has become increasingly important in the countries of the Commonwealth of Independent States (CIS) as fiscal adjustment and structural reforms have taken root. Inflation has been brought down to relatively low levels in almost all of these countries, raising the question of what should be the appropriate nominal anchor at this stage. Formally, almost all CIS countries have floating exchange rate regimes, yet in practice they manage their exchange rates very heavily, perhaps because of high levels of dollarization (i.e., they suffer from "fear of floating"). This paper explores the issues underlying the choice of a nominal anchor in CIS countries and seeks to assess whether the present mixed regime will prove durable. Mode of access: Internet Richardson, Thomas. IMF Working Papers; Working Paper ; No. 2003/179 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/179/001.2003.issue-179-en.xml IMF e-Library