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Mobility under the COVID-19 Pandemic: Asymmetric Effects across Gender and Age* »

Source: Mobility under the COVID-19 Pandemic: Asymmetric Effects across Gender and Age

Volume/Issue: 2020/282

Series: IMF Working Papers

Author(s): Francesca Caselli , Francesco Grigoli , Damiano Sandri , and Antonio Spilimbergo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 December 2020

ISBN: 9781513563961

Keywords: Women, Aging, Gender, COVID-19 , Education, lockdown, mobility, age., WP, lockdown measure

Lockdowns and voluntary social distancing led to significant reduction in people's mobility. Yet, there is scant evidence on the heterogeneous effects across segments of the population. Using unique mobility indica...

Modeling Trade Tensions: Different Mechanisms in General Equilibrium »

Source: Modeling Trade Tensions: Different Mechanisms in General Equilibrium

Volume/Issue: 2020/279

Series: IMF Working Papers

Author(s): Benjamin Hunt , Susanna Mursula , Rafael Portillo , and Marika Santoro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 December 2020

ISBN: 9781513561615

Keywords: Tariffs, Imports, Exports, Trade balance, Exchange rates, Trade policy, trade elasticity, Nominal and real rigidities, general equilibrium, WP

In this paper, we investigate the mechanisms through which import tariffs impact the macroeconomy in two large scale workhorse models used for quantitative policy analysis: a computational general equilibrium (CGE)...

Pandemics and Firms: Drawing Lessons from History »

Source: Pandemics and Firms: Drawing Lessons from History

Volume/Issue: 2020/276

Series: IMF Working Papers

Author(s): Serhan Cevik , and Fedor Miryugin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 December 2020

ISBN: 9781513563893

Keywords: COVID-19 , Communicable diseases, Population and demographics, Emerging and frontier financial markets, Financial sector development, Pandemics, nonfinancial corporate performance, firm-level, WP, nonfinancial firm

The global economy is in the midst of an unprecedented slump caused by the COVID-19 pandemic. To assess the likely evolution of nonfinancial corporate performance going forward, this paper investigates empirically...

Role of Individual Characteristics and Policies in Driving Labor Informality in Vietnam »

Source: Role of Individual Characteristics and Policies in Driving Labor Informality in Vietnam

Volume/Issue: 2020/273

Series: IMF Working Papers

Author(s): Era Dabla-Norris , Giovanni Ganelli , Anh Thi Ngoc Nguyen , Mai Thi Thanh Nguyen , and Thuy Thi Thu Vu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 December 2020

ISBN: 9781513563862

Keywords: Informal employment, Wages, Labor, Employment, Labor markets, informality, Vietnam, Labor Force Survey, labor market segmentation, structural reforms

Using data from the Vietnam Labor Force Survey, this paper takes a granular look at the most salient drivers of labor informality in Vietnam by examining: (i) the nature of labor informality and transitions from fo...

Statement by Louise Levonian, Executive Director for Barbados and Jeremy Weil, Senior Advisor to Executive Director December 9, 2020 »

Source: Barbados : Fourth Review Under the Extended Arrangement, Requests for Augmentation of Access, and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Barbados

Volume/Issue: 2020/314

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 December 2020

ISBN: 9781513563671

Keywords: Fiscal stance, Public debt, Central bank bills, Credit, International reserves, ISCR, CR, Barbadian authorities, coronavirus pandemic, executive board discussion

Barbados has made good progress in implementing its Economic Recovery and Transformation (BERT) plan to restore fiscal and debt sustainability, rebuild reserves, and increase growth-but faces major challenges owing...

Terms-of-Trade Shocks are Not all Alike* »

Source: Terms-of-Trade Shocks are Not all Alike

Volume/Issue: 2020/280

Series: IMF Working Papers

Author(s): Federico Di Pace , Luciana Juvenal , and Ivan Petrella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 December 2020

ISBN: 9781513563916

Keywords: Export prices, Import prices, Terms of trade, Exports, Commodities, Commodity Prices, Business Cycles, World Shocks, WP, price shock

When analyzing terms-of-trade shocks, it is implicitly assumed that the economy responds symmetrically to changes in export and import prices. Using a sample of developing countries our paper shows that this is not...

Youth Unemployment in Uruguay »

Source: Youth Unemployment in Uruguay

Volume/Issue: 2020/281

Series: IMF Working Papers

Author(s): Jose L. Torres , and Sidonia McKenzie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 December 2020

ISBN: 9781513563947

Keywords: Unemployment, Labor markets, Unemployment rate, Employment, Labor, labor market, youth unemployment, labor rigidities, synthetic panel., WP

Uruguay enjoys favorable social outcomes, and its labor indicators are comparable to other Latin American countries, but its youth unemployment is one of the highest in the world. To help understand this duality, w...

Economic Prospects and Policy Challenges for the GCC Countries »

Source: Economic Prospects and Policy Challenges for the GCC Countries

Volume/Issue: 2020/065

Series: Policy Papers

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 December 2020

ISBN: 9781513563572

Keywords: Oil prices, Fiscal policy, COVID-19 , Fiscal consolidation, Oil, PP, GCC country, IMF staff calculation, GCC authorities, labor market

The COVID-19 pandemic is having far-reaching consequences for the global economy. Measures to contain the spread of the virus have led to sharp declines in economic activity across the globe, particularly in 2020Q2...

Guinea »

Source: Guinea : Technical Assistance Report-External Sector Statistics

Volume/Issue: 2020/313

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2020

ISBN: 9781513563411

Keywords: External sector statistics, Mining sector, Foreign direct investment, Balance of payments statistics, Data collection, ISCR, CR, balance of payments software application, BCRG Excel template, balance of payments questionnaire

The fourth and last technical assistance (TA) mission for the benefit of Guinea, under the project on improving external sector statistics (ESS) in 17 Francophone countries of West and Central Africa, funded by the...

Guinea- Bissau »

Source: Guinea- Bissau : Technical Assistance Report-External Sector Statistics Mission

Volume/Issue: 2020/312

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2020

ISBN: 9781513563343

Keywords: External sector statistics, External debt, Foreign direct investment, Income, Private debt, ISCR, CR, balance of payments Committee of Guinea-Bissau, balance of payments goods account, Guinea-Bissau's balance of payments committee

A technical assistance (TA) mission on external sector statistics (ESS) visited Guinea-Bissau during February 3 to 7, 2020. The mission was conducted in Bissau at the request of the National Directorate for Guinea-...

Guinea »

Source: Guinea : Technical Assistance Report-External Sector Statistics

Volume/Issue: 2020/313

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2020

Language: French

ISBN: 9781513563459

Keywords: External sector statistics, Mining sector, Foreign direct investment, Balance of payments statistics, Data collection, ISCR, CR, balance of payments software application, BCRG Excel template, balance of payments questionnaire

The fourth and last technical assistance (TA) mission for the benefit of Guinea, under the project on improving external sector statistics (ESS) in 17 Francophone countries of West and Central Africa, funded by the...

Guinea- Bissau: Technical Assistance Report-External Sector Statistics Mission »

Source: Guinea- Bissau : Technical Assistance Report-External Sector Statistics Mission

Volume/Issue: 2020/312

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2020

Language: Portuguese

ISBN: 9781513563398

A technical assistance (TA) mission on external sector statistics (ESS) visited Guinea-Bissau during February 3 to 7, 2020. The mission was conducted in Bissau at the request of the National Directorate for Guinea-...

Assessing Dutch Fiscal and Debt Sustainability »

Source: Assessing Dutch Fiscal and Debt Sustainability

Volume/Issue: 2020/269

Series: IMF Working Papers

Author(s): Benjamin Carton , and Armand Fouejieu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 December 2020

ISBN: 9781513557496

Keywords: Public debt, Fiscal policy, Government debt management, Fiscal stance, Fiscal risks, Debt, fiscal deficit, sustainability, stochastic simulations., WP

Although the Netherlands entered the so-called Great Lockdown with a strong fiscal position, the Dutch fiscal balance is projected to deteriorate by an unprecedented magnitude, largely as a result of necessary fisc...

Confidence as a Driver of Private Investment in Selected Countries of Central America »

Source: Confidence as a Driver of Private Investment in Selected Countries of Central America

Volume/Issue: 2020/270

Series: IMF Working Papers

Author(s): Carlos Janada , and Iulia Ruxandra Teodoru

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 December 2020

ISBN: 9781513563275

Keywords: Labor costs, Vector error correction models, Vector autoregression, Business environment, Private investment, determinants of investment, confidence, uncertainty, VAR, VECM

This paper argues that structural weaknesses may make private investment particularly sensitive to business confidence relative to other traditional investment drivers and global shocks. It gauges the importance of...

Crossing the Credit Channel: Credit Spreads and Firm Heterogeneity* »

Source: Crossing the Credit Channel: Credit Spreads and Firm Heterogeneity

Volume/Issue: 2020/267

Series: IMF Working Papers

Author(s): Gareth Anderson , and Ambrogio Cesa-Bianchi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 December 2020

ISBN: 9781513563336

Keywords: Credit, Bonds, Monetary tightening, Corporate bonds, Credit ratings, monetary policy, heterogeneity, credit spreads, excess bond premium, credit channel

Credit spreads rise after a monetary policy tightening, yet spread reactions are heterogeneous across firms. Exploiting information from a panel of corporate bonds matched with balance sheet data for U.S. non-finan...

The Fund's Income Position For FY 2020 -- Actual Outcome »

Source: The Fund's Income Position For FY 2020 -- Actual Outcome

Volume/Issue: 2020/064

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 December 2020

ISBN: 9781513563312

Keywords: Personal income, Budget planning and preparation, Financial statements, Exchange rates, Discount rates, PP, SDR billion, SDR millions, Fixed-Income Subaccount, about SDR

This paper reports on the Fund's income position for FY 2020 following the closing of the Fund's accounts for the financial year and completion of the external audit. Net operational income was about SDR 1.4 billio...

Government Insurance Against Natural Disasters: An Application to the ECCU1 »

Source: Government Insurance Against Natural Disasters: An Application to the ECCU

Volume/Issue: 2020/266

Series: IMF Working Papers

Author(s): Alejandro Guerson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 December 2020

ISBN: 9781513563329

Keywords: Insurance, Standing facilities, Natural disasters, Public debt, Stocks, ECCU, fiscal cycles, Monte Carlo experiment, debt sustainability., WP

This paper estimates insurance requirements against natural disasters (NDs) in the Eastern Caribbean Currency Union (ECCU) using an insurance layering framework. The layers include a government saving fund, as well...

Incomplete Financial Markets and the Booming Housing Sector in China »

Source: Incomplete Financial Markets and the Booming Housing Sector in China

Volume/Issue: 2020/265

Series: IMF Working Papers

Author(s): Tamim Bayoumi , and Yunhui Zhao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 December 2020

ISBN: 9781513561639

Keywords: Housing prices, Housing, Consumption, Securities markets, Stock markets, Chinese housing, COVID-19, Financial market incompleteness, DSGE, WP

Housing is by far the most important asset in Chinese households' balance sheets. However, despite forceful and frequent government interventions, the rise in Chinese housing prices has not been contained as much a...

Reconsidering Climate Mitigation Policy in the UK »

Source: Reconsidering Climate Mitigation Policy in the UK

Volume/Issue: 2020/268

Series: IMF Working Papers

Author(s): Nicolas Arregui , and Ian Parry

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 December 2020

ISBN: 9781513561264

Keywords: Carbon tax, Greenhouse gas emissions, Public expenditure review, Transportation, Climate change, net-zero, UK climate mitigation, carbon pricing, feebate, international carbon price floor.

The UK has pledged to cut greenhouse gases 57 percent below 1990 levels by 2030, to be emisisons neutral by 2050, and to phase out internal combustion engine vehicles by 2030. Much progress has been made, but fully...

Tax Policy and Inclusive Growth »

Source: Tax Policy and Inclusive Growth

Volume/Issue: 2020/271

Series: IMF Working Papers

Author(s): Khaled Abdel-Kader , and Ruud A. Mooij

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 December 2020

ISBN: 9781513561561

Keywords: Income, Capital income tax, Income and capital gains taxes, Corporate income tax, Income tax systems, tax policy, inclusive growth, inequality, poverty, income distribution

This paper discusses the theory and practice of tax design to achieve an efficient and equitable outcome, i.e. in support of inclusive growth. It starts with a discussion of the key principles from tax theory to gu...

Angola: Third Review under the Extended Arrangement Under the Extended Fund Facility, Requests for Augmentation and Rephasing of Access, Waivers of Nonobservance of Performance Criterion and Applicability of Performance Criterion, Modifications of Performance Criteria, and Completion of Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Angola »

Source: Angola : Third Review under the Extended Arrangement Under the Extended Fund Facility, Requests for Augmentation and Rephasing of Access, Waivers of Nonobservance of Performance Criterion and Applicability of Performance Criterion, Modifications of Performance Criteria, and Completion of Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Angola

Volume/Issue: 2020/281

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2020

Language: Portuguese

ISBN: 9781513563213

Keywords: External debt, Public debt, Oil prices, Credit, Exchange rates, ISCR, CR, national bank of Angola, economic crisis, gross domestic product

The economic outlook has substantially deteriorated since the Second Review, driven by the negative effects of the COVID-19 pandemic on global economic activity and oil prices. The adverse impact of the shock on th...

Brazil: 2020 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Brazil »

Source: Brazil : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil

Volume/Issue: 2020/311

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2020

ISBN: 9781513562674

Keywords: Public debt, Expenditure, Labor, Income, Labor markets, ISCR, CR, inflation expectation, reform agenda, liability positions vis-à-vis nonresident

The COVID-19 pandemic has worsened Brazil's longstanding vulnerabilities of low potential growth, high income inequality, and weak fiscal position. While the authorities mounted a rapid and effective response to su...

Brazil: Staff Report for the 2020 Article IV Consultation—Debt Sustainability Analysis »

Source: Brazil : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil

Volume/Issue: 2020/311

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2020

ISBN: 9781513562674

Keywords: Public debt, Expenditure, Labor, Income, Labor markets, ISCR, CR, inflation expectation, reform agenda, liability positions vis-à-vis nonresident

The COVID-19 pandemic has worsened Brazil's longstanding vulnerabilities of low potential growth, high income inequality, and weak fiscal position. While the authorities mounted a rapid and effective response to su...

Brazil: Staff Report for the 2020 Article IV Consultation—Informational Annex »

Source: Brazil : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil

Volume/Issue: 2020/311

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2020

ISBN: 9781513562674

Keywords: Public debt, Expenditure, Labor, Income, Labor markets, ISCR, CR, inflation expectation, reform agenda, liability positions vis-à-vis nonresident

The COVID-19 pandemic has worsened Brazil's longstanding vulnerabilities of low potential growth, high income inequality, and weak fiscal position. While the authorities mounted a rapid and effective response to su...

Burkina Faso: Quatrième et Cinquième Revues de L’accord au Titre de la Facilité Élargie de Crédit, Demande de Dérogation Pour Non-observation D’un Critère de Réalisation et de Rééchelonnement de L’accès – Analyse de Viabilité de la Dette »

Source: Burkina Faso : Fourth & Fifth Reviews Under the Extended Credit Facility Arrangement, Request for a Waiver of Nonobservance of Performance Criterion & Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso

Volume/Issue: 2020/304

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2020

Language: French

ISBN: 9781513563244

Keywords: Public debt, External debt, Debt sustainability analysis, Securities, Expenditure, ISCR, CR, ECF program performance, ECF arrangement, IMF lending tracker

The security crisis is worsening and is leading to disruption of basic public services and an unprecedented humanitarian crisis. The Covid19 outbreak and the authority's response to contain its spread further compo...

Burkina Faso: Quatrième et Cinquième Revues de L’accord au Titre de la Facilité Élargie de Credit et Demande de Dérogation Pour Non-observation D’un Critère de Réalisation et de Rééchelonnement de L’accès aux Ressources — Communiqué de Presse; Rapport des Services du FMI et Déclaration de L’administrateur Pour le Burkina FASO »

Source: Burkina Faso : Fourth & Fifth Reviews Under the Extended Credit Facility Arrangement, Request for a Waiver of Nonobservance of Performance Criterion & Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso

Volume/Issue: 2020/304

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2020

Language: French

ISBN: 9781513563244

Keywords: Public debt, External debt, Debt sustainability analysis, Securities, Expenditure, ISCR, CR, ECF program performance, ECF arrangement, IMF lending tracker

The security crisis is worsening and is leading to disruption of basic public services and an unprecedented humanitarian crisis. The Covid19 outbreak and the authority's response to contain its spread further compo...

Déclaration de M. Aivo Andrianarivelo, administrateur pour le Burkina Faso, M. Facinet Sylla, administrateur suppléant, et M. Marcellin Koffi Alle, conseiller principal auprès de l’administrateur »

Source: Burkina Faso : Fourth & Fifth Reviews Under the Extended Credit Facility Arrangement, Request for a Waiver of Nonobservance of Performance Criterion & Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso

Volume/Issue: 2020/304

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2020

Language: French

ISBN: 9781513563244

Keywords: Public debt, External debt, Debt sustainability analysis, Securities, Expenditure, ISCR, CR, ECF program performance, ECF arrangement, IMF lending tracker

The security crisis is worsening and is leading to disruption of basic public services and an unprecedented humanitarian crisis. The Covid19 outbreak and the authority's response to contain its spread further compo...

IMF Executive Board Concludes 2020 Article IV Consultation with Brazil »

Source: Brazil : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil

Volume/Issue: 2020/311

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2020

ISBN: 9781513562674

Keywords: Public debt, Expenditure, Labor, Income, Labor markets, ISCR, CR, inflation expectation, reform agenda, liability positions vis-à-vis nonresident

The COVID-19 pandemic has worsened Brazil's longstanding vulnerabilities of low potential growth, high income inequality, and weak fiscal position. While the authorities mounted a rapid and effective response to su...

Le Conseil d’administration du FMI achève les quatrième et cinquième revues dans le cadre de l’accord au titre de la facilité élargie de crédit (FEC) et approuve le décaissement de 51,28 millions de dollars pour le Burkina FASO »

Source: Burkina Faso : Fourth & Fifth Reviews Under the Extended Credit Facility Arrangement, Request for a Waiver of Nonobservance of Performance Criterion & Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso

Volume/Issue: 2020/304

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2020

Language: French

ISBN: 9781513563244

Keywords: Public debt, External debt, Debt sustainability analysis, Securities, Expenditure, ISCR, CR, ECF program performance, ECF arrangement, IMF lending tracker

The security crisis is worsening and is leading to disruption of basic public services and an unprecedented humanitarian crisis. The Covid19 outbreak and the authority's response to contain its spread further compo...

Statement by Mr. Bevilaqua on Brazil November 25, 2020 »

Source: Brazil : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil

Volume/Issue: 2020/311

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2020

ISBN: 9781513562674

Keywords: Public debt, Expenditure, Labor, Income, Labor markets, ISCR, CR, inflation expectation, reform agenda, liability positions vis-à-vis nonresident

The COVID-19 pandemic has worsened Brazil's longstanding vulnerabilities of low potential growth, high income inequality, and weak fiscal position. While the authorities mounted a rapid and effective response to su...

The Accidental Economist »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

Back to Basics: What Is the Informal Economy? »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

Book Reviews: »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

Disparities in Real Time »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

Editor’s Letter: Window for Change »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

In the Trenches: Cracking Down on Corruption »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

The Jobs of Tomorrow »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

The Long Shadow of an Unlucky Start »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

Picture this Uncertain Age »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

Point of View : Distribution Matters »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

Point of View: How to Make America More Equal »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

The — Post-Pandemic Brave New World »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

Rebuilding Worker Power »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

Rescuing Their Inheritance »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

Rethinking the World of Work »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

The Secret Work of Elephants »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

Shaping a Data Economy »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

Straight Talk: No Going Back »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

Wish you were Here »

Source: Finance & Development, December 2020

Volume: 57

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2020

ISBN: 9781513544625

Finance & Development, December 2020...

Albania: First Post-program Monitoring—Press Release; Staff Report; and Statement by the Executive Director for Albania »

Source: Albania : First Post-Program Monitoring-Press Release; Staff Report; and Statement by the Executive Director for Albania

Volume/Issue: 2020/309

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2020

ISBN: 9781513562582

Keywords: Public debt, Revenue administration, External debt, Budget planning and preparation, Fiscal risks, ISCR, CR, test positivity rate, staff appraisal, test rate

Albania continues to be severely affected by the aftermath of the November 2019 earthquake and the COVID-19 pandemic. The authorities responded promptly to the shocks, and macroeconomic and financial stability have...

Greece: Second Post-program Monitoring Discussions—Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Greece »

Source: Greece : Second Post-Program Monitoring Discussions-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Greece

Volume/Issue: 2020/308

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2020

ISBN: 9781513562551

Keywords: Loans, Public debt, Commercial banks, Credit, Nonperforming loans, ISCR, CR, growth prospect, staff recommendation, staff's growth

The pandemic interrupted a modest recovery. Following Greece's early and strict containment measures, GDP contracted by 7.9 percent in 2020H1, slightly worse than the Euro Area (EA) unweighted average excluding Lux...

IMF Executive Board Completes the First Review of the Extended Credit Facility for Somalia »

Source: Somalia : First Review Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Somalia

Volume/Issue: 2020/310

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2020

ISBN: 9781513562612

Soon after reaching the HIPC Decision Point and embarking on a new IMFsupported program aimed at supporting the implementation of the authorities' National Development Plan and lifting growth, Somalia was hit by a...

IMF Executive Board Concludes 2020 First Post-Program Monitoring with Albania »

Source: Albania : First Post-Program Monitoring-Press Release; Staff Report; and Statement by the Executive Director for Albania

Volume/Issue: 2020/309

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2020

ISBN: 9781513562582

Keywords: Public debt, Revenue administration, External debt, Budget planning and preparation, Fiscal risks, ISCR, CR, test positivity rate, staff appraisal, test rate

Albania continues to be severely affected by the aftermath of the November 2019 earthquake and the COVID-19 pandemic. The authorities responded promptly to the shocks, and macroeconomic and financial stability have...

IMF Executive Board Concludes Second Post-Program Monitoring Discussions with Greece »

Source: Greece : Second Post-Program Monitoring Discussions-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Greece

Volume/Issue: 2020/308

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2020

ISBN: 9781513562551

Keywords: Loans, Public debt, Commercial banks, Credit, Nonperforming loans, ISCR, CR, growth prospect, staff recommendation, staff's growth

The pandemic interrupted a modest recovery. Following Greece's early and strict containment measures, GDP contracted by 7.9 percent in 2020H1, slightly worse than the Euro Area (EA) unweighted average excluding Lux...

Somalia: First Review Under the Extended Credit Facility Arrangement, Request for Waiver of Nonobservance of a Performance Criterion, and Request for Modification of Performance Criteria—Debt Sustainability Analysis »

Source: Somalia : First Review Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Somalia

Volume/Issue: 2020/310

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2020

ISBN: 9781513562612

Soon after reaching the HIPC Decision Point and embarking on a new IMFsupported program aimed at supporting the implementation of the authorities' National Development Plan and lifting growth, Somalia was hit by a...

Somalia: First Review Under the Extended Credit Facility—Press Release; Staff Report; and Statement by the Executive Director for Somalia »

Source: Somalia : First Review Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Somalia

Volume/Issue: 2020/310

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2020

ISBN: 9781513562612

Soon after reaching the HIPC Decision Point and embarking on a new IMFsupported program aimed at supporting the implementation of the authorities' National Development Plan and lifting growth, Somalia was hit by a...

Statement by Mr. Domenico Fanizza, Executive Director for Albania and Mr. Tony Persico, Advisor to the Executive Director November 23, 2020 »

Source: Albania : First Post-Program Monitoring-Press Release; Staff Report; and Statement by the Executive Director for Albania

Volume/Issue: 2020/309

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2020

ISBN: 9781513562582

Keywords: Public debt, Revenue administration, External debt, Budget planning and preparation, Fiscal risks, ISCR, CR, test positivity rate, staff appraisal, test rate

Albania continues to be severely affected by the aftermath of the November 2019 earthquake and the COVID-19 pandemic. The authorities responded promptly to the shocks, and macroeconomic and financial stability have...

Statement by Mr. Massourakis, Alternate Executive Director on Greece November 20, 2020 »

Source: Greece : Second Post-Program Monitoring Discussions-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Greece

Volume/Issue: 2020/308

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2020

ISBN: 9781513562551

Keywords: Loans, Public debt, Commercial banks, Credit, Nonperforming loans, ISCR, CR, growth prospect, staff recommendation, staff's growth

The pandemic interrupted a modest recovery. Following Greece's early and strict containment measures, GDP contracted by 7.9 percent in 2020H1, slightly worse than the Euro Area (EA) unweighted average excluding Lux...

Statement by Ms. Mannathoko, Executive Director, and Mr. Abdullahi, Advisor to the Executive Director for Somalia November 18, 2020 »

Source: Somalia : First Review Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Somalia

Volume/Issue: 2020/310

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2020

ISBN: 9781513562612

Soon after reaching the HIPC Decision Point and embarking on a new IMFsupported program aimed at supporting the implementation of the authorities' National Development Plan and lifting growth, Somalia was hit by a...

Statement by the IMF Staff Representative on Greece November 20, 2020 »

Source: Greece : Second Post-Program Monitoring Discussions-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Greece

Volume/Issue: 2020/308

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2020

ISBN: 9781513562551

Keywords: Loans, Public debt, Commercial banks, Credit, Nonperforming loans, ISCR, CR, growth prospect, staff recommendation, staff's growth

The pandemic interrupted a modest recovery. Following Greece's early and strict containment measures, GDP contracted by 7.9 percent in 2020H1, slightly worse than the Euro Area (EA) unweighted average excluding Lux...

Statement by the Staff Representative on Albania November 23, 2020 »

Source: Albania : First Post-Program Monitoring-Press Release; Staff Report; and Statement by the Executive Director for Albania

Volume/Issue: 2020/309

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2020

ISBN: 9781513562582

Keywords: Public debt, Revenue administration, External debt, Budget planning and preparation, Fiscal risks, ISCR, CR, test positivity rate, staff appraisal, test rate

Albania continues to be severely affected by the aftermath of the November 2019 earthquake and the COVID-19 pandemic. The authorities responded promptly to the shocks, and macroeconomic and financial stability have...

Contagion of Fear: Is the Impact of COVID-19 on Sovereign Risk Really Indiscriminate? »

Source: Contagion of Fear: Is the Impact of COVID-19 on Sovereign Risk Really Indiscriminate?

Volume/Issue: 2020/263

Series: IMF Working Papers

Author(s): Serhan Cevik , and Belma Öztürkkal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 November 2020

ISBN: 9781513561578

Keywords: Credit default swap, COVID-19 , Oil prices, Communicable diseases, Emerging and frontier financial markets, Infectious diseases, sovereign credit risk, CDS spreads, WP, CDS spread

This paper investigates the impact of infectious diseases on the evolution of sovereign credit default swap (CDS) spreads for a panel of 77 advanced and developing countries. Using annual data over the 2004-2020 pe...

International Taxation and Luxembourg's Economy »

Source: International Taxation and Luxembourg's Economy

Volume/Issue: 2020/264

Series: IMF Working Papers

Author(s): Ruud A. Mooij , Dinar Prihardini , Antje Pflugbeil , and Emil Stavrev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 November 2020

ISBN: 9781513560922

Keywords: Corporate income tax, Revenue administration, Special purpose vehicle, Income, Environmental taxes, Luxembourg, International Tax, Foreign Direct Investment, Special Purpose Entities., WP

Luxembourg receives ample investment from multinational corporations, in part due to some attractive features in its international tax rules. Around 95 percent of these foreign investments pass through Luxembourg v...

UnFEAR: Unsupervised Feature Extraction Clustering with an Application to Crisis Regimes Classification »

Source: UnFEAR: Unsupervised Feature Extraction Clustering with an Application to Crisis Regimes Classification

Volume/Issue: 2020/262

Series: IMF Working Papers

Author(s): Jorge Chan-Lau , and Ran Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 November 2020

ISBN: 9781513561660

Keywords: Financial crises, Early warning systems, Machine learning, Economic and financial statistics, Financial statistics, clustering, unsupervised feature extraction, autoencoder, deep learning, biased label problem

We introduce unFEAR, Unsupervised Feature Extraction Clustering, to identify economic crisis regimes. Given labeled crisis and non-crisis episodes and the corresponding features values, unFEAR uses unsupervised rep...

Ukraine »

Source: Ukraine : Technical Assistance Report-A Follow-Up on Distributed Profit Tax, BEPS Implementation, Voluntary Disclosure Program, and Indirect Methods for Determining Taxable Income

Volume/Issue: 2020/302

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 November 2020

ISBN: 9781513561400

Keywords: Personal income, Controlled foreign corporation rules, Legal support in revenue administration, Double taxation, Income and capital gains taxes, ISCR, CR, taxable income, tax authority, PEM resident

Tax policy in Ukraine is engaged in two fronts at once. On one front, very significant work has been done over the years on the gradual improvement and updating of the tax system; on the other, it questions essenti...

Corporate Vulnerabilities in Vietnam and Implications of COVID-19 »

Source: Corporate Vulnerabilities in Vietnam and Implications of COVID-19

Volume/Issue: 2020/260

Series: IMF Working Papers

Author(s): Thilo Kroeger , Anh Thi Ngoc Nguyen , Yuanyan Sophia Zhang , Pham Dinh Thuy , Nguyen Huy Minh , and Duong Danh Tuan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 2020

ISBN: 9781513561820

Keywords: Liquidity, Currencies, Financial statements, COVID-19 , Services sector, Corporate Vulnerability, Debt at risk, ASEAN, Leverage, Profitability

The paper uses firm-level data to assess the financial health of the Vietnamese non-financial corporate sector on the eve of pandemic. Our analysis finds that smaller domestic firms were particularly vulnerable eve...

Dirty Money: Does the Risk of Infectious Disease Lower Demand for Cash? »

Source: Dirty Money: Does the Risk of Infectious Disease Lower Demand for Cash?

Volume/Issue: 2020/255

Series: IMF Working Papers

Author(s): Serhan Cevik

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 2020

ISBN: 9781513560892

Keywords: Communicable diseases, Currencies, COVID-19 , Deposit rates, Ebola, Demand for cash, currency-in-circulation, digital money, infectious diseases, WP

The coronavirus pandemic is a global crisis like no other in modern times, and there is a growing apprehension about handling potentially contaminated cash. This paper is the first empirical attempt in the literatu...

Energy, Efficiency Gains and Economic Development: When Will Global Energy Demand Saturate? »

Source: Energy, Efficiency Gains and Economic Development: When Will Global Energy Demand Saturate?

Volume/Issue: 2020/253

Series: IMF Working Papers

Author(s): Christian Bogmans , Lama Kiyasseh , Akito Matsumoto , and Andrea Pescatori

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 2020

ISBN: 9781513561240

Keywords: Personal income, Manufacturing, Consumption, Energy prices, Oil prices, Energy demand, economic growth, climate change, WP, income elasticity

Not anytime soon. Using a novel dataset covering 127 countries and spanning two centuries, we find evidence for an energy Kuznets curve, with an initial decline of energy demand at low levels of per capita income f...

IMF Executive Board Approves US$185.3 million in Emergency Support to Nicaragua to Address the Covid-19 Pandemic »

Source: Nicaragua : Requests for Purchase under the Rapid Financing Instrument and Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Nicaragua

Volume/Issue: 2020/307

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 2020

ISBN: 9781513561745

Keywords: Rapid Credit Facility, Currencies, COVID-19 , Public sector, Public debt, Credit, ISCR, CR, RFI financing, pandemic shock

Nicaragua faces an acute crisis as the COVID-19 shock comes on top of a two- year recession. So far, the speed of transmission of the pandemic in Nicaragua, in terms of officially confirmed cases, has been slower t...

IMF Executive Board Completes Review of Mexico’s Performance under the Flexible Credit Line Arrangement »

Source: Mexico : Review Under the Flexible Credit Line Arrangement-Press Release and Staff Report

Volume/Issue: 2020/306

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 2020

ISBN: 9781513561714

Keywords: External debt, Public debt, Public sector, Inflation, Credit, ISCR, CR, FCL resource, Mexico's qualification, IMF's executive board

The Covid-19 shock this year has imposed an enormous strain on Mexico. Beside the staggering human cost, the economy faces a historic drop in output and employment and a sharp spike in poverty. It is expected to ta...