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International Monetary Fund. Western Hemisphere Dept.
This paper discusses Grenada’s Request for Disbursement Under the Rapid Credit Facility. IMF financing support provides resources to the countries’ authorities for essential health-related expenditures and income support to ease the impact of coronavirus disease 2019 on the population. The countries’ governments have responded to the pandemic by swiftly implementing containment measures, allocating scarce budgetary resources to critical health care spending, and introducing income support to the most affected sectors and households. Protection of the financial system will help cushion the economic impact of the pandemic. Measures have also been taken by the Eastern Caribbean Central Bank to facilitate the provision of credit and safeguard financial stability. Going forward, and once the current crisis dissipates, the authorities intend to push ahead with a comprehensive Disaster Resilience Strategy aimed at building resilience to natural disasters. They are also committed to further strengthening financial sector oversight to safeguard macro-financial stability.
Ms. Nicole Laframboise and Tea Trumbic
Statistics indicate that the economic and social development of women in the Middle East and North Africa (MENA) compares unfavorably with most regions in the world. This paper assesses the influence of government expenditure and taxation policies on the economic and social welfare of women in the region. On the expenditure side, we test the explanatory power of public social spending in the determination of key female social indicators. We find that the relatively weak social outcomes for MENA women are not explained by the amount of government social spending, suggesting the answer lies in the efficiency and reach of present spending. With respect to taxation, the main issues in the literature on gender bias in taxation are highlighted and applied in a general manner to the MENA context. Some simple policy recommendations are suggested.