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This Selected Issues Paper on Switzerland focuses on unprecedented currency appreciation and policy response. On September 6, 2011, the Swiss National Bank (SNB) surprised the market by explicitly committing to defending a floor of 1.20 on the exchange rate of EUR/CHF. The introduction of the...
Persistent link: https://www.econbiz.de/10011244230
This paper provides three policy lessons to take full advantage of the opportunity afforded by EU funds. The main features of the global integrated monetary and fiscal (GIMF) model and how it was modified to account for income convergence are discussed. The impact of EU funds as exhibited in the...
Persistent link: https://www.econbiz.de/10011244276
policy and commended the monetary stance that has helped to contain inflation. They urged the authorities to improve the …
Persistent link: https://www.econbiz.de/10011244617
The staff report for the 2006 Article IV Consultation on Botswana highlights economic developments and monetary and exchange rate policy. Botswana’s growth has been fueled by continued increases in diamond production; and real diamond output is projected to level off, and then decline...
Persistent link: https://www.econbiz.de/10011244994
This Selected Issues paper covers three topics of particular relevance to Mauritania: export competitiveness and … environment with robust growth, low inflation, manageable current account deficits, and a comfortable level of gross foreign … reserves. The paper also looks at the issue of export competitiveness and exchange rate policy. …
Persistent link: https://www.econbiz.de/10005825034
The econometric results show that it is feasible to estimate robust price and inflation equations for Georgia. The long …
Persistent link: https://www.econbiz.de/10005825215
In this study, economic developments and achievements, the role of the IMF, strong economic recovery, the formulation and implementation of the government’s budgetary policy, and the progress made in rebuilding fiscal institutions are first discussed in detail. An overview of the...
Persistent link: https://www.econbiz.de/10005825362
The analysis is structured around the standard taxonomy of transmission channels. A monetary tightening must limit banks' ability to supply loans by reducing bank reserves/bank credit. The direct interest rate channel is the strongest channel of the monetary policy transmission mechanism (MPTM),...
Persistent link: https://www.econbiz.de/10005591123
This paper focuses on Ex Post Assessment of Longer-Term Program Engagement for Guinea. Guinea’s stabilization and reform efforts have been almost continuously supported by IMF financial arrangements since 1987. The paper reviews developments under the last two IMF-supported programs...
Persistent link: https://www.econbiz.de/10005591670
This Selected Issues paper reviews how Australia’s economy has adapted to a flexible Australian Dollar. The paper provides a background on the float and the initial policy challenges. It discusses the main elements of the Future Fund proposal, and estimates how much Australia and other...
Persistent link: https://www.econbiz.de/10005591680