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External shocks pose major challenges to fiscal policy makers through lower output and large fiscal imbalances. This paper analyzes the case of Moldova, which faced parallel crises a decade apart: the Russian crisis of 1998 and the global financial crisis of 2008-2009. The country went through...
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Japan’s gross government debt of 226% of GDP in 2018 is the highest ever recorded in the OECD area, and places the economy at risk. The government now aims to achieve a primary surplus by FY 2025. Additional fiscal consolidation, based on a detailed plan covering specific spending cuts and tax...
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Introduction and overview Jean A.P. Clément -- Sustaining growth takeoffs : lessons from Mozambique Jean A.P. Clément and Shanaka J. Peiris -- Halving the poverty rate by 2015 Louise Fox, Rui Benfica, and Melissa Sekkel -- Sustaining growth in the long term Sam Jones -- Monetary and financial...
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Das zweite Anpassungsprogramm für Griechenland ist gescheitert, nachdem es bereits mehrfach modifiziert und erweitert … worden war. In den Verhandlungen im Juni 2015 konnten sich Griechenland und „die Institutionen“ nicht auf die Fortführung und … with projections – the second adjustment programme for Greece failed, with substantial deviations between target figures …
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