Browse

You are looking at 1 - 10 of 10 items for :

  • Type: Journal Issue x
  • Bosnia and Herzegovina x
  • Price Level; Inflation; Deflation x
Clear All Modify Search
International Monetary Fund. European Dept.

Abstract

The European recovery is strengthening and broadening appreciably. Real GDP growth is projected at 2.4 percent in 2017, up from 1.7 percent in 2016, before easing to 2.1 percent in 2018. These are large upward revisions—0.5 and 0.2 percentage point for 2017 and 2018, respectively—relative to the April World Economic Outlook. The European recovery is spilling over to the rest of the world, contributing significantly to global growth. In a few advanced and many emerging economies, unemployment rates have returned to precrisis levels. Most emerging market European economies are now seeing robust wage growth. In many parts of Europe, however, wage growth is sluggish despite falling unemployment.

International Monetary Fund. European Dept.

Abstract

This report analyses the main economic developments and achievements in the Western Balkan countries, and lays out the key macroeconomic policy challenges for the future.

International Monetary Fund. European Dept.
This staff report on the Republic of Kosovo’s 2013 Article IV Consultation focuses on economic and financial developments. Kosovo’s economy is excessively dependent on inflows from the diaspora. It is found that while these inflows support incomes, they finance primarily consumption and investments in nontradables, such as real estate or services, and contribute little to the build-up of productive capacity. Goods exports are less than 10 percent of GDP and concentrated in sectors with a low-value added component, notably metals. A coherent strategy is needed to improve competitiveness, foster the development of a tradable sector, and lay the basis for self-sustained growth.
International Monetary Fund
Inflation in Southeastern European (SEE) countries has been comparable with euro area inflation, partly owing to on the one hand, high initial price levels. On the other hand, the exchange rate regime is of paramount importance, including the inflation-targeting regime pursued in Albania. The analysis also explores additional heterogeneity between SEE and other regions. Two fiscal rules—a debt rule and an expenditure rule with a debt brake—are discussed in the context of Albania’s current economic outlook. Both rules will contribute toward enhancing fiscal sustainability in Albania.
International Monetary Fund
This Selected Issues paper for Bosnia and Herzegovina (BiH) reports that GDP per capita in BiH is similar to that in neighboring Balkan countries. BiH risks are falling behind rather than catching up with other transition economies in terms of its economic development. This could delay the process of convergence to and integration with the European Union, including its ambitions to eventually adopt the euro. Accelerated structural reforms and macroeconomic stability remain key to achieving higher and sustained growth rates.
Mr. Ken Miyajima
Following a brief review of the recent history of GDP-linked instruments, this paper proposes a set of tools to examine the quantitative properties of GDP-linked warrants. It argues that trigger conditions should be clearly identifiable and payment amounts easily calculable. Based on a design that includes these features and historical data for the main EMBI countries, the paper provides an assessment of the issuer's capacity to service GDP-linked warrants, comparing payments with tax revenues stemming from contemporaneous growth. The price of the GDP-linked warrants are then estimated from the point of view of both domestic and foreign investors.
Mr. Etienne B Yehoue
The recent experience of the European Economic and Monetary Union (EMU) has stimulated the debate over currency union and reinforced the incentive for the emergence of currency blocs in other regions of the world. This paper builds a dynamic stochastic model-based on network externalities operating through trade channels-to explain the emergence of currency blocs, and specifically, why some countries join a currency union earlier than others. The paper develops and formalizes the intuition that currency bloc formation is path dependent, and that countries join currency blocs sooner the more they trade with the bloc member countries, with each additional member serving in a dynamic way to attract more members into the bloc. Evidence from the current pattern of EMU expansion supports the model, which is later used to elaborate on the pattern of further expansion of the union.
International Monetary Fund. External Relations Dept.
On March 23, the IMF’s Executive Board selected Horst Köhler as the new Managing Director of the IMF. The text of Press Release No. 00/21 follows
International Monetary Fund. Secretary's Department

Abstract

This annual publication is a record of the IMF's Annual Meeting and contains the opening and closing addresses of the Chairman of teh Board of Governors, presentation of the Annual Report by the Managing Director, statements of Governors, committee reports, resolutions, and a list of delegates. Usually published in March. 1997 edition.

International Monetary Fund. Secretary's Department

Abstract

This annual publication is a record of the IMF's Annual Meeting and contains the opening and closing addresses of the Chairman of the Board of Governors, presentation of the Annual Report by the Managing Director, statements of Governors, committee reports, resolutions, and a list of delegates. Usually published in March.