This IPC Country Study by Robert Pollin and James Heintz examines three policy areas related to monetary policies in Kenya: inflation dynamics and the relationship between inflation and long-run growth; monetary policy targets and instruments; and exchange rate dynamics and the country?s...

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This paper reviews the growth, employment, and poverty record of The Gambia focusing on the macroeconomic environment and the structure and functioning of labour markets. Its aim is to identify areas where current policies can be improved or where more knowledge needs to be generated to better...

The Ministry of Community Development and Social Services (MCDSS) has taken the decision to rollout in 2009 a national social cash transfer scheme (SCTS) to cover the whole country by 2012. Thus far, social cash transfer schemes are being piloted in five districts in Southern and Eastern...

GLOBAL CRISIS AND POVERTY PREVENTION Most recent statistics indicate that the global financial crisis will cause a fall in export earnings in Sierra Leone of approximately fifteen percent in 2009 compared to 2008. A regression-based model estimates that this decline in exports earnings could...

This country study investigates the history and eventual conclusion of Nicaragua?s conditional cash transfer programme, the Red de Protección Social (RPS). Specific features of the programme, in both its first and second phase, are described thoroughly to provide readers with an appropriate...

During 2005-2006, appreciation of the Kwacha, Zambia?s currency, had a significant negative impact on public income. This exchange-rate effect received little notice in the debate over macroeconomic policy. The appreciation reduced fiscal space largely because of binding IMF conditionalities on...

The newly independent Republic of Moldova joined the World Bank and the IMF in 1992. The World Bank designated it a ?middle-income? country, a status it retained for Bretton Woods lending until 1997. The middle-income designation implied that the government of Moldova was not eligible for...

For a large proportion of the South African population, social welfare grants are an important source of income. Since 2000, rapid increases in government expenditure on social security have further enhanced the contribution of welfare grants to the income of poor households and have thus been...