Release Date: July, 2011

The euro area (EA) plays a major role in the global economy. Market perceptions of events in the EA program countries illustrate the possibility of large spillovers from the area in times of stress. more...

Release Date: July, 2011

The European Union’s (EU) financial stability framework is being markedly strengthened. This is taking place on the heels of a severe financial crisis owing to weaknesses in the banking system more...

Release Date: July, 2011

In this study, the risks related to the euro area sovereign debt crisis are analyzed. Methods used to implement the European Financial Stability Facility (EFSF) are overviewed, and the European more...

Release Date: May, 2011

In 2010, average inflation has remained low in all West African Economic and Monetary Union (WAEMU) countries, but has edged up in the second half of the year. After a moderate fiscal easing by about more...

Release Date: March, 2011

Release Date: September, 2010

The aim is to analyze the main channels of transmission for shocks from the global economy to Guyana and assess their specific spillover magnitudes. The paper documents the transmission channels of more...

Author/Editor: Yi David Wang.

Release Date: August, 2010

This paper seeks to quantify existing financial barriers among East African Community (EAC) member countries based on analysis of each member country’s foreign exchange market. The primary more...

Author/Editor: Mahvash S Qureshi, Charalambos G Tsangarides.

Release Date: February, 2010

This paper examines the impact of exchange rate regimes on bilateral trade while differentiating the effects of words and deeds. Our findings-based on an extended database for de jure and de more...

Author/Editor: Dimitre Milkov, Rafael A Portillo, Plamen K Iossifov, John Wakeman-Linn.

Release Date: July, 2009

The financial sector of the Central African Economic and Monetary Community (CEMAC) has been seriously affected by the global financial crisis and resulting global recession. This note assesses the more...

Release Date: April, 2008

This paper provides three policy lessons to take full advantage of the opportunity afforded by EU funds. The main features of the global integrated monetary and fiscal (GIMF) model and how it was more...

Release Date: March, 2008

Over the last decade, the Eastern Caribbean Currency Union (ECCU) macroeconomic performance has deteriorated relative to the rest of the Caribbean. Tourism accounts for three-fifths of exports, and more...

Release Date: March, 2008

This paper assesses the evolution of Eastern Caribbean Currency Union (ECCU) real exchange rates over time, and examines whether the region has lost competitiveness. The main finding is that there is more...

Release Date: July, 2007

This Selected Issues paper on Euro Area Policies reviews the integration of Europe’s financial markets and the challenges faced by the new European Union member states with respect to euro more...

Release Date: March, 2007

This paper discusses key findings of the 2006 Regional Discussions on the Eastern Caribbean Currency Union. Fiscal revenues have improved, but there has been only a modest improvement in the fiscal more...

Release Date: March, 2007

This Selected Issues paper analyzes the income dispersion and comovement in the Eastern Caribbean Currency Union region. It finds that incomes are diverging, with the Leeward Islands converging to a more...

Release Date: November, 2006

Lesotho is a small, landlocked, low-income country, with limited natural resources and a narrow production and export base. In recent Article IV consultations, IMF staff has emphasized the importance more...

Release Date: October, 2006

The report summarizes the assessment of Financial Sector Supervision and Regulation on Reports on the Observance of Standards and Codes (ROSC) on banking supervision, insurance supervision, and more...

Author/Editor: Mahvash S Qureshi, Charalambos G Tsangarides.

Release Date: March, 2006

Applying techniques of clustering analysis to a set of variables suggested by the convergence criteria and the theory of optimal currency areas, this paper looks for country homogeneities to assess more...

Release Date: August, 2004

The staff report on Euro Area Policies highlights cyclical growth developments and risks. The area’s real GDP growth has picked up, responding to strong foreign demand and relaxed financial more...

Release Date: August, 2004

This Selected Issues paper on Euro Area Policies underlies global rebalancing of accounts. From a growth-accounting perspective, slower growth in the capital-labor ratio seems to be the main driver more...