The report and the summary review the recent economic and fiscal performance of Mongolia; outline current medium-term prospects of Mongolia's economy; discuss short-term risks and structural vulnerabilities; and comment on the efficiency of past public investment programs and practices

As governments around the world struggle to piece together the most effective fiscal response to counter the economic and social impact of the COVID-19 outbreak, some are facing constraints imposed by fiscal rules enacted in the past to ensure fiscal discipline. The outbreak has revealedthe...

This paper presents estimates of the effects that terms of trade volatility has on growth of real gross domestic product per capita. Based on five-year non-overlapping panel data comprising 175 countries during 1980-2010, the paper finds that: (i) in model specifications that do not include...

Myanmar had a strong economic take off between 2011 and 2015, but sustaining it will depend on improvements to public services and infrastructure. Yet general government spending at 15 percent of gross domestic product (GDP) is much lower than what is needed to deliver these improvements, and...

Ghana has experienced an extended period of robust growth since the early 2000s, supported by a favorable external environment and large investment inflows, particularly in the extractive industries. In 2011, as the start of oil production drove a surge in per capita income, Ghana graduated from...

The report is structured in four chapters that outline the main sources of volatility in the region and suggest ways to mitigate the impacts of that volatility on growth. Chapter one presents stylized facts associated with the growth performance of the Eastern Caribbean over the last 40 years....

This note assesses recent macroeconomic developments in Belarus and presents a medium-term economic outlook for 2013-2016 in three scenarios. These scenarios are sensitive to underlying assumptions and are provided to illustrate the main macroeconomic policy choices, available to Belarus. The...