This paper looks at the link between fiscal policy and debt sustainability in a number of African countries participating in the Heavily Indebted Poor Countries (HIPC) Initiative. The paper finds that, on the basis of current fiscal policies, debt levels will remain unsustainable even after...

This paper assesses whether the scaling up of aid and the resulting increase in government spending that is needed to meet the Millennium Development Goals (MDGs) would be hampered by wage bill ceilings that are often part of government programs supported by the IMF''s Poverty Reduction and...

Our mandate was to consider the economic feasibility and possible impact of a free trade agreement between the European Union and Armenia. The study has been conducted by a group of researchers from Poland, Ukraine, UK, US and Armenia. All have worked on this project in an independent capacity....

Our mandate was to consider the economic feasibility and possible impact of a free trade agreement between the European Union and Georgia. The study has been conducted by a group of researchers from Poland, Ukraine, UK, US and Georgia. All have worked on this project in an independent capacity....

This paper examines the motives behind foreign direct investment (FDI) in a group of four CIS countries (Ukraine, Moldova, Georgia and Kyrgyzstan) based on a survey of 120 enterprises. The results indicate that non-oil multi-national enterprises (MNEs) are predominantly oriented at serving local...