This Selected Issues paper analyzes the surprising strength of remittances in Bangladesh and other countries in South Asia and the Philippines in 2009. The empirical analysis suggests that the continued strong growth of remittances in these countries is related to the resilience of non-oil GDP...

This Selected Issues paper on Samoa reports that remittances are the main source of foreign exchange to the Samoan economy. In addition to remittances, travel credits also play an important role in the economy. Official transfers are also significant, and should remain an important source of...

The Selected Issues paper and Statistical Appendix on Cape Verde review determinants of emigrant deposits (ED). EDs have provided a substantial source of foreign exchange to the Cape Verdean economy, and have been vital in maintaining the fixed exchange rate. Prospects for growth in Cape Verde...

This Selected Issues paper on Mexico presents econometric investigation of the cyclical determinants of remittances to Mexico. The aggregate U.S. business cycle is not necessarily relevant for remittances. Remittances to Mexico do show a significant relationship with employment conditions in...

The IMF staff report on Mexico’s financial policies has been satisfactory; these policies have been said to act as a buffer against risks that erupted during the global economic crisis. Mexico has been identified as a prudent and fairly well-managed economy. However, the issues that would...

The dominant role of remittances in Comoros’s economy presents policymakers with important challenges and opportunities. Fiscal decentralization is a pillar of national reconciliation in Comoros. To make decentralization work better, more revenue and expenditure responsibilities could be...

This Selected Issues paper on the Republic of Kosovo’s 2013 Article IV Consultation highlights growth and Kosovo’s external environment. In the wake of the global financial crisis, Kosovo’s economic growth slowed but remained positive, while most other Western Balkans...

In South Africa, long-term insurers experienced some strains during the financial crisis, but there were no crisis-related failures. The capital markets suffered sharp declines but no systemic failures. The three standards assessments have found the regulatory system fundamentally sound. The...

A very ambitious fiscal adjustment effort is under way. Fiscal institutional and sectoral reforms have been elaborated for a more durable adjustment. Greece’s determination toward a comprehensive modernization of the health sector, beginning with a far-reaching reform of state enterprises...