This study characterizes volatility dynamics in external emerging bond markets and examines how prices and volatility respond to news about macroeconomic fundamentals. As in mature bond markets, macroeconomic surprises in external emerging bond markets are found to a¤ect both conditional...

This paper discusses a request from Cameroon for Disbursement Under the Rapid-Access Component of the Exogenous Shocks Facility (RAC-ESF). Despite improvements, the economy of Cameroon remains vulnerable to commodity shocks, especially from oil; and reducing poverty is a challenge. The...

This paper discusses a request from Samoa's authorities for a Disbursement Under the Rapid-Access Component of the Exogenous Shocks Facility (ESF-RAC). The tsunami that hit Samoa on September 29, 2009 has undercut Samoa’s economic resilience and prospects for a quick recovery from the global...

This paper discusses findings of the Fourth Review Under the Policy Support Instrument and findings of the Second Review Under the Exogenous Shocks Facility for Senegal. All quantitative assessment (performance) criteria were met, notably the targets for the fiscal deficit and the budgetary...

This paper discusses a request from Congo for the Rapid-Access Component of the Exogenous Shocks Facility. Performance on the 2008 staff-monitored program was mixed, complicated by the effects of the exogenous shock. Although weaknesses remain, the authorities strengthened public financial...

Over the past decade, Indonesia has developed into an important regional and global economy, as well as an active participant in the G20. The chapters in this book document the substantial improvements in the quality of macroeconomic policy that Indonesia has achieved, while also clearly laying...

This paper discusses key findings of the Detailed Assessment of Observance of the Depository Trust Company’s Observance of the Committee on Payment and Settlement Systems/International Organization of Securities Commissions (CPSS–IOSCO) Recommendations for Securities Settlement Systems for...

This paper discusses key findings of the Detailed Assessment of Observance of the Fedwire Securities Service’s (FSS) Observance of the Committee on Payment and Settlement Systems/International Organization of Securities Commissions (CPSS–IOSCO) Recommendations for Securities Settlement...

The 2005 Article IV Consultation for the United States reports that robust productivity growth and high corporate profits have contributed to a strong rebound in business investment and some acceleration in employment. The financial sector appears well positioned to provide continued support to...