ILO pub-WEP pub. Working paper (conference paper), short term econometric model estimating the impact of economic policy on employment and incomes in Peru in 1983 - calculates interaction between external debt, balance of payments, monetary policy, fiscal policy, price policy, supply and demand...

This paper assesses the effects of total public debt (external and domestic) on social expenditure worldwide and in Latin America using an unbalanced panel of around 50 countries for the period 1985-2003. The most robust and important finding is that higher debt ratios do reduce social...

In this paper, the author considers the sovereign debt in the form of one-period government bonds with default risk, which can be purchased by and traded among domestic and foreign investors. She shows that the weight assigned to the lenders' interest by the borrowing government at the time of...

This 2007 Article IV Consultation underlies that strong macroeconomic policies have enabled Cambodia to achieve impressive growth and make inroads into poverty. Supported by prudent fiscal and monetary policies that have strengthened the economy’s resilience to shocks, growth has averaged...

In April 2009, the Boards of Executive Directors of the International Development Association (IDA) and the International Monetary Fund (IMF) agreed that Côte d’Ivoire had met the requirements for reaching the decision point under the Enhanced Heavily Indebted Poor Countries (HIPC)...

This 2013 Article IV Consultation highlights that Sierra Leone has made significant progress in macroeconomic stabilization over the last five years. Real GDP growth averaged some 7 percent, driven by output expansion in agriculture, mining, and services; as well as the scaling-up of...

This 2007 Article IV Consultation highlights that the economy of Barbados has been growing at a solid pace, and the outlook for 2007 is generally favorable. Robust output growth of about 4 percent is expected to continue in 2007, supported by tourism and construction. Inflation, which was pushed...

Albania enjoyed strong growth with comparatively benign external vulnerabilities before the crisis. Monetary policy provided timely support, and the exchange rate functioned as a shock absorber. However, policy buffers are now exhausted and must be rebuilt. Fiscal tightening has to be quickly...

This paper reviews the Central African Republic’s three-year arrangement under the poverty reduction and growth facility. Concerns about the social impact of higher fuel prices have delayed implementation of an automatic pricing formula and caused serious fiscal losses. The new financing...

This Joint Staff Advisory Note focuses on the Poverty Reduction Strategy Paper (PRSP) for Djibouti. Djibouti’s National Initiative for Social Development (“Initiative Nationale pour le Développement Social‖INDS) provides a comprehensive vision for economic growth and poverty...