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During the transition process, many existing social sector institutions and policies were significantly eroded and their underlying character changed. As a result, they often do not redistribute to the poorest, nor generally serve the role of facilitating economic change. Social sector reforms...
Persistent link: https://www.econbiz.de/10005264010
This Selected Issues paper attempts to quantify the impact of the demographic shift on growth and public finances in Switzerland. It examines the intertemporal consistency between current policy plans and unfunded liabilities, focusing primarily on social security, and explores policy options....
Persistent link: https://www.econbiz.de/10005598861
The paper discusses the limits to market-based risk transfer in the financial system and the implications for the management of systemic long-term financial risks. Financial instruments or markets to transfer and better manage these risks across institutions and sectors are, as yet, either...
Persistent link: https://www.econbiz.de/10005599607
This paper focuses on Cyprus’ Fourth Review Under the Extended Arrangement Under the Extended Fund Facility (EFF) and Request for Modification of Performance Criteria. The program remains on track. Fiscal targets for the first quarter were met with considerable margins, domestic payment...
Persistent link: https://www.econbiz.de/10011244486
KEY ISSUES Background: The large imbalances that accumulated prior to the global financial crisis culminated in a collapse of the banking sector in early 2013. In response, the authorities took unprecedented measures and adopted an economic adjustment program, supported by official financing,...
Persistent link: https://www.econbiz.de/10011244709
the guidance of EU and IMF staff, Cyprus has placed itself in a good position to continue along the agreed path. …
Persistent link: https://www.econbiz.de/10011244766
Persistent link: https://www.econbiz.de/10011245406
This paper discusses Cyprus’ First Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria. The program is on track, and ownership by the authorities has improved. Fiscal targets were met with a comfortable margin. All...
Persistent link: https://www.econbiz.de/10011245517
Cyprus experienced significant internal and external imbalances owing to the European financial crisis. The oversized … both Cyprus and Greece, resulted in the two largest banks being declared insolvent. However, the authorities have taken …
Persistent link: https://www.econbiz.de/10011242797
This paper discusses Cyprus’ Second Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria. The program is on track. Fiscal performance continued to exceed targets comfortably, and the 2014 budget is more ambitious than...
Persistent link: https://www.econbiz.de/10011242807