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India's foreign exchange reserves have risen rapidly since the balance-of-payment crisis in 1991 to over US$155 billion … by mid-2006. India is now the fifth largest Asian reserve holder. Despite this, scant attention has been paid to the … rationale for and impact of reserves accumulation in India. This paper estimates the extent of de facto sterilization and …
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This paper discusses key findings of the Third Review Under the Poverty Reduction and Growth Facility (PRGF) for Haiti. Despite external shocks, program performance was solid in the first half of FY2008, with all but one quantitative performance criteria (PC) met. Most structural conditionality...
Persistent link: https://www.econbiz.de/10011244304
This 2008 Article IV Consultation highlights that Bolivia’s overall fiscal position has improved in 2008. Booming hydrocarbon and mining exports, together with high remittance inflows, led to a record-high current account surplus and large reserve accumulation, with major pressures on...
Persistent link: https://www.econbiz.de/10011244436
This 2005 Article IV Consultation highlights that the economic activity in Jamaica has been adversely affected by shocks. Real GDP contracted sharply in late 2004 following the devastating effects of Hurricane Ivan. Thereafter, while output recovered, it was dampened by the poor performance of...
Persistent link: https://www.econbiz.de/10011245004
This 2008 Article IV Consultation highlights that rapid domestic demand growth in Ukraine pushed the economy beyond its capacity in 2007–08, leading to accelerating inflation. The demand expansion, fed by fiscal and income policies and a capital-inflow driven surge in money and credit...
Persistent link: https://www.econbiz.de/10011245130