Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...

The financial turmoil of the late 1990s prompted a broad search for tools and techniques for detecting and preventing financial crises, and more recent episodes of instability have high lighted the importance of continuous monitoring of financial systems as a tool for preventing crises. This...

The key policy challenge for Turkey in the years ahead will be to enhance and consolidate the advances made since the nation’s 2000-01 economic crisis. Higher growth could reduce unemployment and raise living standards toward European Union levels. This paper reviews Turkey’s...

This paper examines Turkey’s Seventh Review Under the Stand-By Arrangement, and Requests for Waiver of Applicability and Nonobservance of Performance Criteria. Successful macroeconomic management delivered an impressive economic performance in 2003. However, budget slippages interrupted...

Domestic and external factors combined to bring about the loss of confidence in Argentina that triggered the debt default and the crisis. Restoring confidence in legal certainty has been a major challenge for Argentina. The fiscal program is centered on maintaining tight control over primary...

This work employs a dynamic general equilibrium model to evaluate the causes and implications of bank insolvencies. The model is applied to stylized data from several South Asian countries. It derives conclusions about policy instruments designed to alleviate the impact of insolvencies. Firms...