国际货币基金组织：2026年将综合政策框架应用于低收入国家：冲击、摩擦和政策考量（英文版）

The Integrated Policy Framework (IPF) assists IMF staff in providing advice on the joint use of foreign exchange intervention (FXI), macroprudential measures (MPMs), and capital flow management measures (CFMs), alongside standard monetary and fiscal policies. This note provides overarching considerations in applying the IPF to low-income countries (LICs), building on previous Fund advice. LICs typically experience strong IPF frictions. They usually have shallow FX markets, exposing them to ri