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The authorities’ program for 2003–05, supported by the previous Stand-By Arrangement (SBA), successfully stabilized the economy despite difficult conditions. A new economic program for 2006–08 is needed to consolidate macroeconomic stability, address remaining...
Persistent link: https://www.econbiz.de/10011245700
This paper discusses the Staff-Monitored Program (SMP) for Guinea. Agreement in principle was reached on the SMP from April 2005 to March 2006. The program would support the authorities’ efforts in restoring macroeconomic stability and establish a track record of policy implementation to...
Persistent link: https://www.econbiz.de/10005824944
authorities, while monetary and public debt management cannot be strictly separated. This calls for close coordination of …
Persistent link: https://www.econbiz.de/10005826151
The paper analyzes the interplay between public debt and monetary management during financial reforms, and provides … and public debt at the onset and through different phases of a financial reform and emphasizes that many objectives of … public debt and monetary management are mutually supportive. It recommends the setting up of units to deal with public debt …
Persistent link: https://www.econbiz.de/10005826325
Zimbabwe's failure to address continuing central bank quasi-fiscal losses has interfered with both monetary management and the independence and credibility of the Reserve Bank of Zimbabwe (RBZ). Realized quasi-fiscal losses are estimated to have amounted to about 75 percent of GDP in 2006....
Persistent link: https://www.econbiz.de/10005769073
This paper assesses the First Review Under the Staff-Monitored Program (SMP) for Afghanistan. The authorities have met all of the indicative quantitative targets set out under the SMP and all the structural benchmarks, except the benchmark on licensing of commercial banks, which was only partly...
Persistent link: https://www.econbiz.de/10005825122
How to entrench hard-won gains, increase resilience to shocks, and improve growth performance to reduce poverty? As Central America moves forward in regaining macroeconomic stability, these are the challenges. This study analyzes Central America’s real, fiscal, monetary, and financial...
Persistent link: https://www.econbiz.de/10005590924
This paper focuses on Albania’s Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review. Performance since the third review has been satisfactory...
Persistent link: https://www.econbiz.de/10005252598
This paper-consisting of a regional study and seven country studies-reviews the state of domestic public debt markets … account for the lion's share of capital markets, regional public debt markets remain underdeveloped for a variety of reasons …. The problems of small scale, dollarization, and weak public finances in many countries are compounded by poor structure …
Persistent link: https://www.econbiz.de/10005825635
This paper examines Albania’s 2002 Article IV Consultation, First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), and Requests for Modification and Waiver of Performance Criterion. Economic growth appears to have fallen below a 7 percent...
Persistent link: https://www.econbiz.de/10005768602