Lebanon's long economic contraction continued in 2022, albeit at a slower pace than in previous years. The deceleration in economic contraction in 2022 is largely owed to a base effect (referred to as a technical deceleration in economic contraction). Following a cumulative four-year contraction...

The systemic failure of Lebanon's banking system and the collapse of the currency have resulted in a large, dollarized cash-based economy, worth an estimated USD 9.86 billion or 45.7 percent of GDP in 2022 (Special Focus: Gauging the Size of the Cash Economy in Lebanon). A pervasive and growing...

Successive waves of COVID-19 disrupted the Thai economy in the first half of 2021, but their impact was mitigated by recovering global demand and substantial fiscal support. After a second wave of COVID-19 infections began in late 2020, the government strengthened public health and social...

In February 2021 the military assumed power in Myanmar, setting back the country's democratic transition, and immediately impacting an economy that had already been weakened by Coronavirus disease 2019 (COVID-19). While the initial economic impacts of the coup were extremely severe, in May and...

This Algeria Economic Monitor provides an update on key recent economic developments and policies. It places them in a longer-term and global context and assesses the implications these developments and changes in policies have on the outlook for Algeria. This Monitor's coverageranges from the...

Morocco stands out as a country that has seized the COVID-19 (coronavirus) crisis as an opportunity to launch an ambitious program of transformative reforms. After its initial efforts to mitigate the immediate effects of the pandemic on households and firms, the authorities have launched various...

The scale and scope of Lebanon's deliberate depression are leading to the disintegration of key pillars of Lebanon's post-civil war political economy. Monetary and financial turmoil along with surging inflation continue to drive crisis conditions. Public finances improved in 2021 as spending...

The velocity of money usually rises in expansions and falls in recessions This paper explains this pro-cyclical movement of velocity using two ideas: (i) during business cycles the movement of investment and consumption of durable goods has a larger amplitude than consumption of non-durable...