This week the Greek government reached agreement with the European authorities and the IMF for 130 billion euros in lending, as part of a new adjustment package to replace the current IMF program that began in May of 2010. Although the agreement should allow the government to avoid default in...

Advocates of an economic strategy of “internal devaluation” have recently pointed to Latvia as an example of successful macroeconomic policy. The Latvian economy is projected to grow by four percent in 2011. They argue that the Latvian government, along with the European authorities...

The Argentine economy has grown 94 percent for the years 2002-2011, using International Monetary Fund projections for the end of this year. This is the fastest growth in the Western Hemisphere for this period, and among the highest growth rates in the world. It also compares favorably to...

This paper examines some of the economic issues that could be relevant to Mexico’s July 1st presidential election. These include the short-term impact of the 2008-2009 recession and recovery; the longer-term record of Mexico’s economy since the Partido Acción Nacional (PAN) party took power...

Outside observers could be forgiven for expecting Ecuador to suffer terribly during and after the recent global crisis. Two of the country’s largest sources of foreign earnings, petroleum exports and remittances from abroad, crashed during the global recession. Furthermore, lacking its own...

This paper looks at Ecuador’s financial and regulatory reforms during the past five years, perhaps the most comprehensive of any country in the 21st century: taking control over the central bank, regulating capital outflows, taxing the financial sector, encouraging domestic investment and...

This issue brief examines the International Monetary Fund's (IMF's) economic growth projections for Latin America and the Caribbean through 2014. It finds that for some countries – most notably Venezuela and Argentina – the IMF’s projections inexplicably portend a prolonged negative impact...

This paper shows that, in spite of a reasonably sized fiscal stimulus package, Costa Rica’s economy continues on a downward path, partly because fiscal policy is being offset by a tightening of monetary policy. The paper notes that the International Monetary Fund has insisted that Costa...

his issue brief looks at the likely costs to the U.S. Treasury from a $108 billion increase in the U.S. contribution to the International Monetary Fund (IMF). The White House's Office of Management and Budget originally proposed the $108 billion be scored at zero in the budget, and there are...

This paper looks at the planned austerity measures in Spain, the rationale for the spending cuts and tax increases, likely outcomes for future debt-to-GDP ratios, and the probable results of alternative policies.