International Monetary Fund. External Relations Dept.
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This 2001 Article IV Consultation highlights that in recent years, economy of St. Vincent and the Grenadines has diversified from bananas into services, mainly tourism, telephone and Internet-based marketing, and offshore financial services. However, the rate of economic growth declined sharply to 2 percent in 2000. The external current account deficit is estimated to have doubled to about 16½ percent of GDP in 2001 largely owing to a decline in banana export volumes, higher imports, and a slowdown in tourism receipts and remittances.
At the recent Review of the Fund’s Transparency Policy on June 24, 2013, the Executive Board agreed to further consider options to reduce the time lag for public access to Executive Board meeting minutes under the Open Archives Policy. Although a majority of Executive Directors saw scope for reducing the time lag for public access to Board meeting minutes from five years to three years, a significant minority of Directors favored maintaining the existing lag in order to strike a balance between informing the public about the Board’s views and maintaining the candor of Board discussions. The Board requested that staff undertake further analysis of the issue. Accordingly, this paper provides a more detailed assessment of the current practice and a discussion of the potential costs and benefits of possible options for further reform.
Mr. Jean A. P. Clément, Amo Yartey, Ragnar Gudmundsson, and Mr. Bernardin Akitoby
The Democratic Republic of the Congo (DRC), the third largest country in Africa, is making significant strides to extricate itself from one of the bloodiest wars in the continent’s history, which resulted in millions of deaths. Focusing on the DRC’s turnaround as well as its considerable stabilization and reconstruction challenges, Postconflict Economics in Sub-Saharan Africa draws lessons for postconflict countries worldwide. The IMF team leader and book’s editor, Jean A.P. Clement, and three contributing authors, Bernardin Akitoby, Ragnar Gudmundsson, and Charles Amo Yartey, spoke with Jacqueline Irving of the IMF Survey about what can be learned from the DRC’s experience.