The global economy is beginning to pull out of a recession unprecedented in the post-World War II era, but stabilization is uneven and the recovery is expected to be sluggish. Economic growth during 2009-10 is now projected to be about 1/2 percentage points higher than projected in the April...

This paper evaluates Mali’s Fifth Review Under the Poverty Reduction and Growth Facility. The implementation of the program was satisfactory in the first nine months of 2002. All the quantitative performance criteria, benchmarks, and financial performance indicators were observed. The...

This paper examines Cambodia’s 2002 Article IV Consultation and Sixth Review Under the Poverty Reduction and Growth Facility (PRGF). Supported by inflows of development aid, economic activity regained vitality in 1999. The government’s macroeconomic strategy, which was supported by a PRGF...

Madagascar showed satisfactory performance under the Poverty Reduction and Growth Facility (PRGF) program. Executive Directors agreed that the crisis has undermined the timely achievement of the program, requiring the government to redouble its efforts. They welcomed the 2003 budget and stressed...

This paper examines Tanzania’s 2004 Article IV Consultation and Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility. Tanzania has continued to maintain macroeconomic stability and to make substantial progress in structural reform. Real GDP growth has...

1. Declining Population Growth and the Serendipity Theorem -- 2. Consumption of Leisure Goods, Leisure Time, and Inheritance of Tastes for Leisure in an Overlapping Generations Model -- 3. Overlapping Generations Model with Relative Preference for Children's Human Capital -- 4. The Impact of...