This Selected Issues paper analyzes France's fiscal stance using a structural stochastic model. The theoretical model … can help build buffers that could help France confront the next downturn from a stronger fiscal position. The analysis … highlights that, on average, fiscal policy in France exhibited a deficit bias over the past four decades, being unable to react …

A strong export-led recovery is underway. Despite early actions and a successful vaccination campaign, the pandemic is … lingering in Mongolia as positivity rates remain high and borders largely closed. An export-led recovery which began in mid-2020 …