This Technical Assistance Report surveys the resources of the subnational jurisdictions and proposes a tax reform strategy for Mali. In Mali, the system of local taxes generates insufficient revenue and relies on obsolete taxes, which are particularly difficult to collect. It proposes that the...

Swiss financial institutions are well capitalized and could withstand the severe shocks under the adverse stress test scenarios, but macrofinancial vulnerabilities are deepening. Important reforms have been made since the 2014 FSAP, but several critical recommendations and emerging challenges...

A tripolar international monetary system-centered on the U.S. dollar, the deutsche mark, and the yen - appears to be emerging. This paper not only assesses the role of the yen as an international currency but also presents a unified theory of international currency use and distinguishes between...