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Mali’s economy is showing renewed momentum resulting from a strong 2005–06 cereal harvest and strengthening terms of trade. The fiscal program remained well on track through end-2005. Discussion of the macroeconomic outlook focused on production-side growth prospects, such as...
Persistent link: https://www.econbiz.de/10011242861
of the coinsurance arrangement is examined under different loan contracts offered by the IMF. The analysis suggests that …, if the IMF’s objective is to safeguard its resources and be concerned about the welfare of the borrower, an ex ante loan …
Persistent link: https://www.econbiz.de/10005264158
Persistent link: https://www.econbiz.de/10005824865
This paper reviews and draws lessons from the stabilization and reform program that Korea implemented in response to the 1997-98 crisis. The economy recovered quickly from the deep recession in 1998 and its vulnerability to a balance of payments crisis has been reduced sharply. Significant...
Persistent link: https://www.econbiz.de/10005825786
Understanding of the domestic political environment is key to building broad country ownership and the successful implementation of reform programs supported by international financial institutions (IFIs). But recipient countries are not unitary actors: policymakers are influenced by special...
Persistent link: https://www.econbiz.de/10005825788
Designing appropriate governance structures for an international financial institution such as the IMF is difficult …
Persistent link: https://www.econbiz.de/10005825916
The paper outlines a general framework for statistical legislation. The implications of statistical legislation for the whole statistical system, as well as for centralized versus decentralized statistical systems, are addressed. The general framework is spelled out by identifying "essential"...
Persistent link: https://www.econbiz.de/10005826011
contagion through its lending with conditionality. We characterize the IMF's optimal lending decision in mitigating the loss in … a lower IMF rate. Highly indebted countries hit by large negative shocks to output will default. The resulting reduction … further rounds of defaults. In this environment the IMF can limit default and internalize the externality generated by …
Persistent link: https://www.econbiz.de/10005826144
IMF lending is generally conditional on specified policies and outcomes. These conditions usually are negotiated …
Persistent link: https://www.econbiz.de/10005826172
relation to the requirements of the IMF Code of Good Practices on Fiscal Transparency based on discussions with the authorities …
Persistent link: https://www.econbiz.de/10011244381