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This paper discusses key findings of the Second Review and Financing Assurances Review Under the Stand-By Arrangement for Latvia. The sharp economic downturn is starting to bottom out, although recovery has not yet begun. The authorities have implemented the June 2009 supplementary budget, and...
Persistent link: https://www.econbiz.de/10011243235
This 2004 Article IV Consultation highlights that from 1999 to 2002, Korea’s economy grew rapidly, by an average of 7¼ percent per year. But starting in 2003, the economy has begun to sputter. Growth suddenly stopped in the first half of the year, leapt ahead in the second half as...
Persistent link: https://www.econbiz.de/10005252883
The Angolan government’s efforts to achieve macroeconomic stability to bring inflation and fiscal deficit considerably down are paying off despite high vulnerability to oil revenue shocks. The expected overall growth of up to 7 percent will be contributed to by increased oil production,...
Persistent link: https://www.econbiz.de/10011244737
Rapid private sector credit growth in the Middle East, North Africa, and Central Asia has been a result of strong … economic growth, financial deepening, and banks’ willingness to explore consumer credit markets. Economic growth, the initial … ratio of private sector credit to GDP, price volatility, and nonoil exports are found to be significant explanatory …
Persistent link: https://www.econbiz.de/10005264230
a negative shock to banks' capital/assetratio on lending standards, which in turn affect consumer credit, mortgages, and … investment). In addition, our empirical model allows for feedback from spending and income to bank capital adequacy and credit …. Hence, we trace the full credit cycle. An exogenous fall in the bank capital/asset ratio by one percentage point reduces …
Persistent link: https://www.econbiz.de/10005599689
This paper questions the view that leverage should have forewarned us of the global financial crisis of 2007-09, pointing to several gearing indicators that were neither useful portents of the onset of the crisis nor of its ferocity. Instead it shows, first, that the use of ill-suited collateral...
Persistent link: https://www.econbiz.de/10010790365
This study is carried out against a backdrop of deep divisions in Greece and in Europe over how to handle the challenges now confronting Greece. Greece’s deeper medium-term policy needs and identifying ways to replace the expected market financing are discussed. Structural reforms tackled...
Persistent link: https://www.econbiz.de/10011244444
, and credit to the private sector has risen threefold. Loan classification, provisioning, and even capital remain uneven in …
Persistent link: https://www.econbiz.de/10011245298
credit to government was also met substantially despite revenue and external assistance. …
Persistent link: https://www.econbiz.de/10005252598
This paper reviews Albania’s 2004 Article IV Consultation, Fifth Review Under the Poverty Reduction and Growth Facility (PRGF), Request for Extension of the Arrangement, and Financing Assurances Review. The macroeconomic performance of the Albanian economy has been remarkable by both...
Persistent link: https://www.econbiz.de/10005591824