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Shinya Kotera and Ms. TengTeng Xu
This paper analyzes the drivers of India’s growth in the past five decades and considers baseline and upside scenarios of India’s medium-term potential growth. Using a production function approach, the paper assesses the impact of the pandemic on the key factors of production and therefore its impact on medium-term growth. Successful implementation of wide-ranging structural reforms could help support productivity and potential growth over the medium term.
International Monetary Fund. Middle East and Central Asia Dept.
In the attached letter, the Somali authorities request an extension of the date on which the arrangement under the Extended Credit Facility (ECF) will automatically expire unless a review is completed to August 17, 2022. On March 25, 2020, the Executive Board approved Somalia’s HIPC Initiative Decision Point1 and a three-year arrangement under the ECF.2 The first review under the ECF arrangement was completed by the Executive Board on November 18, 2020.3 However, as no review has been completed since then, the ECF arrangement is set to automatically expire on May 17, 2022, in line with the rule on automatic expiration of ECF arrangements if no review has been completed for 18 months. Under Fund policy, the Board may decide to delay the automatic expiry of the arrangement by up to three months if staff and the authorities appear close to reaching understandings on targets and measures to put the ECF-supported program back on track.
International Monetary Fund. Strategy, Policy, & Review Department and World Bank
This Guidance Note outlines good practices on information-sharing across key areas in which the Bank and the IMF interact. The note outlines general principles consistent with these frameworks and discusses how the staffs of the two institutions are expected to exchange information related to country operations, technical assistance, and policy work.
Nils Mæhle, Tibor Hlédik, Mikhail Pranovich, Carina Selander, and Mikhail Pranovich