Civil service reform is often essential to bring about governanceimprovements that are needed for sustainable poverty reduction.A workshop hosted by the World Bank and the IMF in September 2001provided a forum to review the effectiveness of Bank-Fund advice and programs on civil service reform,...

This paper analyzes the origins of the recent turbulence in government bond markets in the major industrial countries, and considers whether the role of hedge funds in that episode argues for altering present regulatory arrangements. In financial markets, it is possible for such a revision of...

This Selected Issues paper analyzes the medium-term macroeconomic outlook for India. The paper highlights that in the strong adjustment scenario, the joint effect of strong fiscal consolidation and ambitious structural reforms would bring the Indian economy onto a sustainable high growth path,...

An introductory guide to the IMF, its history, and its role in the international financial system. Explains for a general audience the IMF’s lending policies, how decisions are made, and where the money comes from. Gives details of the structure of the IMF, its increasing transparency, how it...

This report describes recent economic developments in the Republic of Estonia. The report highlights that after a cumulative decline of almost 30 percent in 1992–93, real GDP is estimated to have increased in 1994. Data on the composition of GDP by sector reflect the continuing adjustment of...

This Background Notes paper and Statistical Appendix presents a summary of the Croatian Tax System as of August 1994. The paper discusses the experience with incomes policies in Croatia. It highlights that incomes policy has played an important role in the Croatian stabilization program as the...

This paper describes economic developments in the Republic of Moldova during the 1990s. In February 1993, the Executive Board of the IMF approved a purchase of resources equivalent to SDR 13.5 million under the compensatory and contingency financing facility to cover the costs associated with...

This Recent Economic Developments and Selected Background Studies paper on Romania provides an overview of key monetary and real sector developments in 1995, including the impact of agricultural credit on monetary control, the factors behind the growth in foreign currency credit, and the link...

This paper describes economic developments in Eritrea during 1990–95. In 1993, despite strong growth in the industry and distribution sectors, real GDP growth was adversely affected by a substantial decline in agricultural output, owing to poor rain distribution, pest problems, and drought in...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country