The international monetary system is largely the product of negotiations during World War II between U.S. and U.K. officials, led respectively by Harry Dexter White and John Maynard Keynes. The design of the system, especially the International Monetary Fund, reflects the U.S. plan much more...

After recovering rapidly from the Great Recession, the Canadian economy has slowed down in 2012. Growth weakened in the first three quarters of 2012, and recent indicators have suggested that the pace of economic expansion remained subpar in the fourth quarter. The fiscal policy has continued to...

Two economists designed the main features of the charter of the IMF during World War II: John Maynard Keynes and Harry Dexter White. Several of those features are attributable primarily to White, including the adoption of fixed but adjustable exchange rates, the funding of operations with...

This Selected Issues paper examines external developments and competitiveness in France. Over the past decade, the current account has deteriorated from a surplus of 1.2 percent of GDP in 2002 to a deficit of about 2.3 percent in 2012, as France lost ground in goods trade and services recorded...

This staff report on Colombia’s arrangement under the Flexible Credit Line highlights economic policies and development. Colombia’s economic performance in recent years has been very strong, underpinned by a very strong institutional framework and prudent macroeconomic management....

This 2007 Article IV Consultation underlies that strong macroeconomic policies have enabled Cambodia to achieve impressive growth and make inroads into poverty. Supported by prudent fiscal and monetary policies that have strengthened the economy’s resilience to shocks, growth has averaged...

This 2013 Article IV Consultation highlights that Sierra Leone has made significant progress in macroeconomic stabilization over the last five years. Real GDP growth averaged some 7 percent, driven by output expansion in agriculture, mining, and services; as well as the scaling-up of...

This paper discusses key findings of the Second Review Under the Policy Support Instrument for Nigeria. All assessment criteria through end-September were met except for one civil service-related measure. Remedial measures have prevented the civil service reform program from being compromised....

This 2007 Article IV Consultation highlights that the economy of Barbados has been growing at a solid pace, and the outlook for 2007 is generally favorable. Robust output growth of about 4 percent is expected to continue in 2007, supported by tourism and construction. Inflation, which was pushed...