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International Monetary Fund. External Relations Dept.

After more than two decades of conflict, interspersed with earthquakes and drought, the economy of the Islamic State of Afghanistan has grown relatively strongly since 2001, albeit from a very low base, the IMF said in its annual economic assessment. Bad weather conditions have slowed agricultural output over the past 18 months, but other sectors, especially construction and services, have benefited from buoyant demand. Poppy production, however, continued to rise in 2004, and the Afghanistan component of illicit drug revenue is estimated at $2.8 billion, the equivalent of about 60 percent of the country’s nondrug GDP. The IMF’s Executive Board cautioned that this development could jeopardize security as well as macroeconomic stability and supported recent government and international efforts to develop a multipronged strategy to deal with the opium economy.

International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund
This report provides the details of the IMF's projections and estimates on Estonia's basic data; gross domestic product by expenditure, origin, and income approach; real gross domestic product by origin; employment by sector; balance of payments; foreign direct investment inflows and outflows by countries; foreign direct investment outflows and inflows by sectors during 1996–2000; maturity and currency composition of deposits and loans; general government revenue and expenditure during 1996–2001; gross external debt; foreign assets; net external debt during 1997–2000, and so on.
Thorvaldur Gylfason
This paper identifies some of the main determinants of exports and economic growth in cross-sectional data from the World Bank, covering 160 countries in the period 1985-1994. First, the linkages between the propensity to export and population, per capita income, agriculture, primary exports, and inflation are studied by statistical methods. Then, the relationship between economic growth and some of the above-mentioned determinants of exports and investment are scrutinized the same way. The main conclusion is that, in the period under review, high inflation and an abundance of natural resources tended to be associated with low exports and slow growth.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund
This report describes recent economic and financial developments in Guinea–Bissau, focusing on 1994 and early 1995, and provides statistical coverage from 1990. In 1994, the rate of growth of aggregate economic output exceeded that of the population, the pace of consumer price inflation abated to historic low, and both the fiscal and external current account positions showed further improvement. At end-1994, the economic and financial situation of Guinea–Bissau remained characterized by large domestic and external imbalances, as well as by a heavy burden of external debt service obligations.
W. M. Corden

Abstract

This paper deals with trade policy issues of particular interest to the Fund. It is motivated both by the revival of protectionist attitudes in the industrial countries and the prevalence of liberalization proposals for developing countries. In veiw of Fund concerns with the functioning of the International monetary system and with the individual countries' macroeconomic policy, and especially exchange rate issues, relate to protection.

International Monetary Fund. External Relations Dept.

This paper describes the origin of the IMF, its organization, and its method of working. The IMF has as its aim the economic prosperity of the whole world. The IMF pursues an active program of economic research. For this purpose, it systematically collects and publishes data on international trade, holdings of gold and foreign currencies, national income, price indices, restrictions on international payments, international movements of capital, and so on. All this is part of the background against which discussions of problems of individual members are carried out by the Executive Board.

W. M. Corden

Abstract

This paper deals with trade policy issues of particular interest to the Fund. It is motivated both by the revival of protectionist attitudes in the industrial countries and the prevalence of liberalization proposals for developing countries. In view of Fund concerns with the functioning of the international monetary system and with individual countries’ macroeconomic policies, the paper focuses on the areas where macroeconomic policy, and especially exchange rate issues, relate to protection. Thus its discussion of the more standard microeconomic effects of protection is rather brief. The paper begins with a discussion of the relationship between protection and the current account, an issue that is particularly relevant currently for the United States.

W. M. Corden

Abstract

Occasional Paper No. 38 of the International Monetary Fund contains a full review of policies, the facts about actual protectionist measures, available evidence on the costs of protection, and discussion of negotiating issues, all based on information available up to early 1985. In addition, it contains extensive further references. Furthermore, there is a thorough survey of recent developments, as well as of major protection policy issues, in the World Bank’s World Development Report, 1987. Hence the present paper deals purely with analytical issues. Nevertheless, before launching into the main discussion, something should be said about recent protectionist trends.2