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Structural budget-balance rules with countercyclical elements appear well suited to stabilize the macroeconomic volatility of oil-exporting countries and have been used successfully by other commodity exporters. Using a global DSGE model, the efficient design of such rules is found to depend on...
Persistent link: https://www.econbiz.de/10010790379
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For Afghanistan, the dual prospect of declining donor support and high ongoing security spending over the medium term keeps the government budget tight. This paper uses a general equilibrium model to capture the security-development tradeoff facing the government in its effort to rehabilitate...
Persistent link: https://www.econbiz.de/10011242233
in the mining sector and expansionary fiscal policy for infrastructure investment. IMF staff supports the authoritiesâ …
Persistent link: https://www.econbiz.de/10011242530
This paper discusses Solomon Islands’ Third Review Under the Extended Credit Facility (ECF) Arrangement and Request for Modification of Performance Criteria (PC). Program performance under the ECF arrangement has been broadly satisfactory. Reserve buffers have been rebuilt and are at a...
Persistent link: https://www.econbiz.de/10011242623
This paper discusses Peru’s economic performance in 2012. The impressive growth is owed to its strong fundamentals and sound policy management. However, the economy is vulnerable to short-term shocks. A low growth in China or in the United States could hamper Peru’s macroeconomic...
Persistent link: https://www.econbiz.de/10011242761
Uganda has benefited from international reserve accumulation. The fiscal stance is tighter mainly owing to delays in execution of a large hydropower project. A suspension of budget support owing to theft of donor funds has curtailed spending plans and hurt growth prospects. The authorities have...
Persistent link: https://www.econbiz.de/10011243067
Significant progress has been made in Haiti to safeguard macroeconomic stability after the January 2010 earthquake. However, the pace of the reconstruction has been slow and the business environment remains unattractive. Further development and strengthening social safety nets are essential. The...
Persistent link: https://www.econbiz.de/10011243077
. The contribution of coal production and exports and the implementation of large infrastructure projects are projected to …
Persistent link: https://www.econbiz.de/10011243138
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