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Republic of Poland; Arrangement Under the Flexible Credit Line and Cancellation of the Current Arrangement—Staff Report; Staff Supplement; Press Release on the Executive Board Di...
International Monetary Fund (IMF); International … - 2011
Poland’s macroeconomic performance was strong during the global crisis, supported by sound economic policies. The previous Flexible Credit Line (FCL) arrangements served the Polish economy well and provided adequate insurance against negative spillover risks. Executive Directors...
Persistent link: https://www.econbiz.de/10011244361
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Iceland; Staff Report for the 2012 Article IV Consultation and First Post- Program Monitoring Discussion
International Monetary Fund (IMF); International … - 2012
The 2012 Article IV Consultation reports that Iceland’s fiscal consolidation is continuing, but at a slower pace. Moderate expenditure overruns materialized in 2011, which will partly spill over to 2012 and the medium term. A key priority is to put the medium-term fiscal path back on...
Persistent link: https://www.econbiz.de/10011245037
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Georgia; Seventh and Eighth Reviews Under the Stand-By Arrangement, and Requests for Waivers of Nonobservance of Performance Criteria and Rephasing of Purchases—Staff Report; Sta...
International Monetary Fund (IMF); International … - 2011
Real GDP growth for 2010 has been revised upward to 6.3 percent, and annual CPI inflation has increased to about 10 percent. End-December performance criteria (PC) are expected to be met, with the exception of the fiscal deficit and general government expenditure targets owing to the late...
Persistent link: https://www.econbiz.de/10011245685
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Public debt management and credibility: Evidence from an emerging economy
Mendonça, Helder Ferreira de; Machado, Marcelo Rangel - In: Economic Modelling 30 (2013) C, pp. 10-21
This study is a contribution to the literature concerning the management of the public debt in emerging economies. A novelty in this article is the introduction of a fiscal credibility index based on the market's expectations in regard to the public debt to GDP ratio. The main objective is to...
Persistent link: https://www.econbiz.de/10010608265
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Wage and Public Debt Indexation
Guidotti, Pablo Emilio - International Monetary Fund (IMF) - 1992
This paper examines the relationship between the degree of wage indexation chosen by private agents and the degree of … indexation of the public debt. It is shown that the government is likely to respond to an increase in the degree of wage … indexation by increasing the portion of the public debt that is indexed. By contrast, the effect of an increase in public debt …
Persistent link: https://www.econbiz.de/10005825668
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A Framework for Developing Secondary Markets for Government Securities
Ãrvai, Zsófia; Heenan, Geoffrey - International Monetary Fund (IMF) - 2008
This paper consolidates previous work on the development of secondary markets for government securities, and focuses on the sequencing of measures necessary for their development. Six main lessons are identified: (i) a commitment to achieving and maintaining a stable macroeconomic environment,...
Persistent link: https://www.econbiz.de/10005826193
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Foreign Currency Deposits and International Liquidity Shortages in Pakistan
Mirakhor, Abbas; Zaidi, Iqbal Mehdi - International Monetary Fund (IMF) - 2004
This paper studies the implications of foreign currency deposits (FCDs) for international liquidity shortages in Pakistan. The analysis focuses on how the large volume of FCDs and the specific institutional characteristics of those deposits have made the Pakistan economy highly vulnerable to...
Persistent link: https://www.econbiz.de/10005826483
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Chile; Institutions and Policies Underpinning Stability and Growth
Kalter, Eliot; Phillips, Steven; Singh, Manmohan; … - International Monetary Fund (IMF) - 2004
This paper presents the primary institutions and economic policies that have led to Chile’s remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of fiscal discipline and an open trade policy regime, together with carefully...
Persistent link: https://www.econbiz.de/10005767351
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Colombia; 2005 Article IV Consultation and Fourth Review Under the Stand-By Arrangement, Requests for Waiver of Nonobservance of Performance Criteria and the Completion of the Four...
International Monetary Fund (IMF); International … - 2005
This paper discusses Colombia’s 2005 Article IV Consultation, Fourth Review Under the Stand-By Arrangement (SBA), and Requests for Waiver of Nonobservance of Performance Criteria. Real economic growth in Colombia recovered to 4 percent a year in 2003–04. The national unemployment...
Persistent link: https://www.econbiz.de/10005591197
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Cyprus; 2002 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Cyprus
International Monetary Fund (IMF); International … - 2003
This 2002 Article IV Consultation highlights that after four years of strong growth, economic activity in Cyprus has tailed off since late 2001, affected by the global economic slowdown. The authorities estimate growth for 2002 to have declined to 2.3 percent, with falling tourist arrivals and...
Persistent link: https://www.econbiz.de/10005591321