After a stronger-than-expected recovery from the pandemic and continued resilience in early 2023, economic growth in Latin America and the Caribbean (LAC) is softening as the effect of tighter policies to combat inflation is taking hold and the external environment is weakening. The early and...

The 2023 Article IV Consultation discusses that the Canadian economy is decelerating, accompanied by a sharp decline in headline inflation. However, as in other similar countries, core inflation has been stickier, and short-term expectations remain elevated against the background of still-tight...

The Bank of Canada (BOC) sets a high benchmark for transparency, which is recognized by its stakeholders, thus maintaining a high level of trust and accountability. The BOC's transparency practices are broadly aligned with expanded and comprehensive practices as defined by the IMF Central Bank...

Recent developments in the Western Hemisphere-that is, the United States/Canada and Latin America and the Caribbean (LAC)-have been dominated by the impact of two distinct global shocks: the COVID-19 pandemic and then the Russian invasion of Ukraine. A third shock-the tightening of financial...

This report reviews the Goods and Services Tax (GST) regime in the Maldives and identifies policy and legal reform options to support its modernization, as well as enhancing efficiency, equity, and revenue mobilization. Despite five existing amendments to the Goods and Services Tax Act (GSTA)...

We quantify cross-border effects of the recent climate mitigation policies introduced in Canada and the U.S., using the global general equilibrium model IMF-ENV. Notably, with the substantial emission reductions from Canada's carbon tax-led mitigation policies and the U.S.' Inflation Reduction...

"The early 2020s unleashed a perfect storm on local governments around the world, posing logistical challenges many administrations had never anticipated. Where some communities flailed, others thrived. Epidemics, natural disasters, and economic collapses inspired innovative thinking and...