This is the latest in a series of economic reports by staff economists in the IMF’s Middle Eastern Department. This book discusses the latest economic data coming out of the West Bank and Gaza Strip, with a particular emphasis on growing demographic concerns. The work is enhanced by the...

This paper evaluates the performance of two alternative policy rules, a forward-looking rule and a spontaneous adjustment rule, under alternative inflation targets, in terms of output losses in a macroeconomic model, using European Union data. The simulations suggest that forward-looking rules...

Countries in the Middle East and North Africa region have unprecedented opportunities for transforming their economies through accelerated economic growth, but the countries themselves must ensure the necessary conditions. This study, by the Middle Eastern Department, focuses on four areas that...

The Timorese economy has improved owing to high oil-financed public spending and a rebound in agriculture, non-oil growth. Despite high bank deposit growth, private sector credit has remained stagnant. The medium-term outlook for growth is positive. Timor-Leste’s key challenge remains to use...