Machine generated contents note: -- PART I: ISSUES AND CHALLENGES -- Moving towards domestic monetary anchors -- Are financial markets ready in the Mediterranean region? -- Fiscal policy and macroeconomic stability in Mediterranean countries -- Capital account liberalization, exchange rate flexibility, and monetary policy: issues and challenges -- Monetary policy transmission and targeting mechanisms in the MENA region -- Monetary transmission mechanisms: the credit vs. the interest rate channels -- PART II: THE JOURNEY TOWARDS IT -- From Bretton Woods to inflation targeting: financial change and monetary policy evolution in Europe -- Explicit Inflation Targeting in Turkey: the reasons and the outcome -- The evolution of monetary policy in Egypt: Is Egypt now ready for inflation targeting? -- Preparations for the journey towards IT in Tunisia -- Monetary policy and the journey towards inflation targeting in Morocco.