This paper analyzes progress on the Poverty Reduction Strategy Paper—Country Development Strategy (PRSP–CDS) in the Kyrgyz Republic for 2007–10. The CDS is the most important concept paper that outlines midterm vision of the Kyrgyz Republic. The paper also discusses that...

The impact of the 2009 tsunami on tourism and on the Samoan economy is likely to be substantial. The effectiveness of monetary transmission in Samoa has improved over time; however, it is still below international standards. The adverse impact of the crisis on the functioning of the banking...

When the exchange rate fluctuates and the market exhibits hysteresis, planning horizons of domestic and foreign competitors will matter in determining pass-through as well as relative market shares of these firms. Using the Cournot duopoly model, it is shown that if the foreign exporter is a...

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...

Conceptual ambiguities and statistical weaknesses hamper the assessment of external competitiveness. The term competitiveness, while applied extensively, is often imprecisely defined, which can result in analytical errors and mistaken policy advice. Furthermore, aggregate statistical measures of...

This Selected Issues paper on Sri Lanka provides background information on economic developments and on selected policy issues facing Sri Lanka. The main economic developments in 1996 and the first quarter of 1997 are discussed. The paper highlights that in 1996, a severe drought, power...

The Selected Issues Paper focuses on Cyprus' banking sector vulnerabilities and its pension system. The most salient risks for the banking sector come from commercial banks domiciled in Cyprus. These banks have the strongest links with the local economy and are likely to experience further...

This Selected Issues paper on Sri Lanka provides background information on economic developments during 1995 and the first half of 1996 and on key policy issues in the current setting. The paper notes that the economic situation has deteriorated on a number of fronts—inflation has risen;...

This Selected Issues paper examines the adequacy of Cyprus’ economic competitiveness. The paper looks at the recent behavior of conventional indicators of competitiveness, estimates Cyprus’ equilibrium real exchange rate, and provides an econometric analysis of the main determinants of...

The paper examines the evolution of the institutional setup of Lithuania''s Currency Board Arrangement (CBA) and competitiveness from 1994 through 2001, with a view to determining the resilience of the Lithuanian CBA to external shocks in 2002-03. First, several indicators of competitiveness are...