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In this study, economic recovery and growth of Macedonia are discussed. In the financial sector, nonperforming loans (NPLs) rose, and bank profitability declined as a result of the crisis. Executive Directors agreed with the thrust of the staff appraisal. Directors were encouraged by the overall...
Persistent link: https://www.econbiz.de/10011245225
This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...
Persistent link: https://www.econbiz.de/10005824823
capital markets, including excessive issue size relative to the intended use of bond proceeds, issuance of bullet bonds, and … financing options, including international bonds, for many emerging market (EM) economies and LICs. This paper presents some of … the advantages and disadvantages of international debut bonds, within a debt sustainability framework. It outlines key …
Persistent link: https://www.econbiz.de/10005263693
Persistent link: https://www.econbiz.de/10005767357
The key policy challenge for Turkey in the years ahead will be to enhance and consolidate the advances made since the nation’s 2000-01 economic crisis. Higher growth could reduce unemployment and raise living standards toward European Union levels. This paper reviews Turkey’s...
Persistent link: https://www.econbiz.de/10005767368
Jamaica has performed well under the Stand-By Arrangement program. Executive Directors commended that overall macroeconomic performance under the program has been encouraging. Directors welcomed the program aimed at fiscal responsibility legislation and central treasury management, public debt...
Persistent link: https://www.econbiz.de/10011243799
The staff report for the Third Review under the Stand-By Arrangement and request for establishment of performance criteria focuses on Peru’s economic developments, outlook, and program for 2006. The Peruvian economy continues to perform well. Fiscal transparency has been increased,...
Persistent link: https://www.econbiz.de/10005591702
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
This paper discusses key findings of the Second Review Under the Stand-By Arrangement for Peru. The economy continued to perform well in 2004. Real GDP grew by 5.1 percent, inflation was 3.5 percent at end-December, and the fiscal deficit of the combined public sector narrowed to 1.1 percent of...
Persistent link: https://www.econbiz.de/10011244851
Uruguay’s Second Review Under the Stand-By Arrangement and Requests for Modification, Waiver of Nonobservance and Applicability of Performance Criteria are discussed. Growth remains robust, inflation is subdued, and the external position continues to strengthen, with buoyant exports and...
Persistent link: https://www.econbiz.de/10011245054