A common proposal designed to deal with the developing countries’ debt problem is that there be set up some kind of “international debt facility” which would buy up debt at a discount and then write down its contractual value, hence providing debt relief. There are three main parties to...

This paper analyzes the importance of developing market-enhancing institutions for restoring economic growth in transition economies during 1991–98. The paper’s main finding is that the development of an institutional framework has indeed a significant positive impact on growth, but that...

This paper outlines reforms to increase the effectiveness of the Fund's capacity development (CD) program. It builds on the 2008 and 2011 reviews of technical assistance (TA) and the 2008 review of training, which set in motion important changes to make CD more valuable to member countries....

This supplement provides background information on various aspects of capacity development (CD) for the main Board paper, The Fund's Capacity Development Strategy-Better Policies through Stronger Institutions. It is divided into nine notes or sections, each focused on a different topic covered...

Solomon Islands’ economy has rebounded from the 2008–09 global financial crisis. An 18-month Standby Credit Facility has been approved in June 2010 and succeeded in restoring macroeconomic and financial stability. A new resource taxation regime is the key to reap the benefits from natural...

In 2011, the economy of Mali is expected to stay on a robust growth trajectory with low inflation. Fiscal performance has been consistent with program targets during the first half of 2011. Money supply increased more than GDP during the first nine months of 2011. The authorities intend to...

This paper reviews economic developments in the Comoros during 1992–95. The economic performance of the Comoros during 1991–94 was characterized by real growth of about 1.6 percent a year on average, large financial imbalances, an eroding export base, and the accumulation of large domestic...

This paper describes economic developments in Comoros during the 1990s. The economic performance of Comoros during 1991–94 was characterized by real growth of about 1.6 percent a year on average, large financial imbalances, an eroding export base, and the accumulation of large domestic and...

This Background Paper and Statistical Annex examines selected issues pertaining to the Mauritian economy, which are all related to the question of how Mauritius will be able in the future to sustain its export-led development and diversify its economy. The paper discusses the impact of the...

This Background Paper examines the medium-term economic outlook (1997–99) for Norway. The central feature of Norges Bank’s reference case projection for the medium term is that the expansion of mainland output will slow from 3.3 percent in 1995 and 2.8 percent in 1996 to an annual average of...