components 1. IMF stabilization package wants concerned countries to abolish all sorts of foreign exchange and import controls. 2. Country concerned must devalue its currency. 3. Country concerned should undertake a stringent domestic anti-inflation program. This program consists of following components - Bank credit should be controlled by raising interest rates and reserve requirements. - Government deficit should be reduced by cut in social sector spending and subsidies while taxes should be increased. - Wage increments should be controlled and wage indexing must be abolished. - Free markets should be promoted by elimination of licensing requirements and dismantling of price controls. 4. Country should open up top foreign investment and reduce or eliminate various tariff and non- tariff barriers pertaining to international commerce