EXECUTIVE SUMMARYEuroclear Bank is a securities settlement system that contributes to the safety and efficiency of global markets for government bonds and other international securities but also concentrates systemic risk. It is one of the largest securities settlement systems worldwide with a...

This Selected Issues paper assesses the youth unemployment problem in advanced European economies, especially the euro area. Youth unemployment rates increased sharply in the euro area after the crisis. Much of these increases can be explained by output dynamics and the greater sensitivity of...

This Selected Issues paper highlights quantitative tightening (QT) by the European Central Bank (ECB). It uses evidence from the literature on the impact of central bank bond purchases and sales on bond yields, and the monetary policy stance, to outline a roadmap for reducing the Euro system's...

This paper on Republic of Croatia focuses on representative rate for the Euro. The Council of the European Union decided on July 12, 2022 that the Republic of Croatia had fulfilled the necessary conditions for adoption of the euro with effect from January 1, 2023, and that the conversion rate...

The euro area economy has been resilient in the face of multiple, large shocks, including the pandemic, Russia’s gas shut-off, and fallout from the war in Ukraine. Nonetheless, the adverse shocks have had persistent effects which shape economic prospects. Energy-intensive industries, in...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

This paper discusses key findings of the Second Review of the Three-Year Arrangement Under the Poverty Reduction and Growth Facility for Cameroon. Economic activity is slowing, reflecting a weak business environment, stronger competition from low-cost producers of manufactured products, and...

This note analyzes the medium- and long-term prospects of the hydrocarbon sector as a source of growth. Substantial hydrocarbon and financial reserves implies a sizable upward shift in the sustainable expenditure path. Rather than suggesting a specific fiscal rule, four simple alternatives are...