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International Monetary Fund. External Relations Dept.

This paper highlights that the World Bank and its affiliate, the International Development Association (IDA), will support three projects in Kenya—one for rural access roads, an additional for integrated rural development, and a third for wildlife and tourism. A US$4 million loan and a US$4 million IDA credit will assist the government of Kenya in implementing the first phase of the rural access roads program. The program aims at the construction of 15,000 km of rural access roads in eight years.

International Monetary Fund. External Relations Dept.

This paper reviews the self-help housing project in El Salvador. The paper highlights that projects like this one become community efforts in a real sense. The families participate in road building, construction, digging trenches, and pipe-laying, under supervision. The Fundación Salvadoreña de Desarrollo y Vivienda Mi'nima (FSVM) is the executing agency in this self-help project involving a US$6 million International Development Association (IDA) credit and a US$2.5 million loan from the World Bank to the government of El Salvador. The FSVM has already completed about 1,020 fully serviced lots for families with monthly incomes below US$120.

International Monetary Fund
This paper presents a detailed analysis of the average fiscal policy responses of oil producing countries (OPCs) to the recent oil price cycle. We find that OPCs worsened their non-oil primary balances substantially during 2003-2008 driven by an increase in primary spending. However, this trend was partially reversed when oil prices went down in 2009. We also find evidence that fiscal policy has been procyclical and has hence exacerbated the fluctuations in economic activity. In addition, we estimate that a small reduction in oil prices could lead to very large financing needs in the near future. Finally, we show that long-term fiscal sustainability positions in OPCs have worsened.
V. C. Nwaneri

This paper analyzes the issue of migrant workers in Europe. The paper highlights that the number of migrant workers currently in the major industrialized countries of Western Europe is not accurately known. The actual annual flow of migration into Western Europe has been growing rapidly in recent years. Most migrants are so-called annual or permanent workers, although in France, particularly in agriculture, and in Switzerland, “seasonal” migration is also important. The paper also highlights that the sectoral distribution of migrant workers tends to follow the pattern of sectoral employment growth in the receiving country.