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derogation from adopting the euro as their currency (that is, each country joining the EU commits to replace its national … currency with the euro, but can choose when to request permission to do so). For most of these countries, adopting the euro … convergence with the rest of the euro area. …
Persistent link: https://www.econbiz.de/10005767345
This Selected Issues paper for Algeria analyzes the potential economic impact of Algeria’s Association Agreement with the European Union (AAEU). The paper lays out the major elements of Algeria’s AAEU and makes a comparison with other AAEUs. It discusses the potential economic...
Persistent link: https://www.econbiz.de/10011244528
The macroeconomic environment is sound, with low inflation and a comfortable external position, although the fiscal position remains a concern for the medium term. The authorities have successfully privatized and liberalized the telecommunications, energy, and transportation sectors. Moreover,...
Persistent link: https://www.econbiz.de/10011244655
The creation, in 1994, of the Central African Economic and Monetary Community (CEMAC) customs union was a major step in the regional integration process in central Africa. The implementation of the agreed regime by the member countries, however, has remained unsatisfactory. A 2002–03...
Persistent link: https://www.econbiz.de/10011245384
Japan showed strong economic recovery from the crisis. Executive Directors welcomed the development and stressed the need for a strong monetary framework, well-designed fiscal consolidation, and structural reforms. Directors agreed that the Bank of Japan’s monetary framework is well...
Persistent link: https://www.econbiz.de/10011245637
This 2007 Article IV Consultation highlights that real GDP in South Africa grew by 5 percent in 2006 and continued to grow vigorously in early 2007. Growth was driven by strong domestic demand, with private consumption and investment spending supported by continuing robust consumer and business...
Persistent link: https://www.econbiz.de/10011245818
This Selected Issues paper presents a snapshot of some economic issues for Ukraine. It analyzes risks for the banking sector stability. It investigates Ukraine’s real equilibrium exchange rate, drawing chiefly from cross-country panel-data analysis, and the experience of other neighboring...
Persistent link: https://www.econbiz.de/10005248067
India’s 2005 Article IV Consultation reports that the government’s medium-term fiscal strategy is broadly appropriate, and faster implementation is crucial for its economy. India’s growth spurt provides a golden opportunity to fast-forward the government’s structural...
Persistent link: https://www.econbiz.de/10005252804
This report examines recent economic developments and regional policy issues in the West African Economic and Monetary Union (WAEMU). Although progress has been achieved on the integration front since 1994, including the establishment of a customs union and the creation of the economic union,...
Persistent link: https://www.econbiz.de/10005252947
This Selected Issues paper examines the main factors explaining Ukraine’s growth performance so far, assesses whether the recent recovery is sustainable, and provides a quantitative analysis of long-term growth prospects. It finds that the recent recovery is not yet self-sustaining and...
Persistent link: https://www.econbiz.de/10005824979