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International Monetary Fund

This Selected Issues paper reviews the external competitiveness of the Belarusian economy, particularly in 2000–01. The analysis starts with an overview of developments in Belarus’ external current account. The paper then examines various competitiveness indicators, most importantly changes in external and internal real exchange rates, as well as labor cost measures. It reviews trade data by sectors to explain recent export performance. The paper also provides an overview of current wage policy and its macroeconomic effects.

International Monetary Fund

This 2006 Article IV Consultation highlights that despite some progress in macroeconomic stabilization and reform under IMF-supported programs during the 1990s, Chad’s indicators on business climate, governance, and socioeconomic conditions still remain among the lowest in the world. In 2006, real GDP is expected to grow by 1.3 percent, reflecting higher non-oil growth offsetting a somewhat larger fall in oil production than envisaged earlier. Executive Directors have noted Chad’s efforts in maintaining macroeconomic stability and in channeling resources to priority sectors despite a difficult political and security environment.

International Monetary Fund. Independent Evaluation Office

Abstract

1. In recent years, the IMF has been at the center of an array of criticism concerning the adverse side effects of its interventions in the countries that it supports financially, the effectiveness of the economic programs that form the basis for this support, and even its very role in today’s international financial system, with the fiercest critics arguing that it has outlived the mission for which it was created. While the criticism is extensive, it is not unanimous and there are many who recognize that the IMF has an important role to play in promoting stability in the international financial system and especially in helping member countries manage balance of payments problems in a manner consistent with the pursuit of other economic objectives.

Mr. Alfred Schipke

Abstract

The Eastern Caribbean Economic and Currency Union (OECS/ECCU) is one of four currency unions in the world. As in other parts of the world in the aftermath of the global economic and financial crisis, the region is at a crossroads, facing the major challenges of creating jobs, making growth more inclusive, reforming the banking system, and managing volatility, while grappling with high public debt and persistent low economic growth. Policymakers have the critical task of implementing strong reforms to strengthen the monetary union while also laying the foundation for accelerating growth. This Handbook provides a comprehensive analysis of the key issues in the OECS/ECCU, including its organization and economic and financial sector linkages, and provides policy recommendations to foster economic growth.

International Monetary Fund. Independent Evaluation Office

Abstract

1. The Philippines is probably the most extreme case of prolonged use of IMF resources, with 23 programs between 1962 and 2000. Over the 30-year period 1971–2000, the Philippines had programs for almost 25 years (Table 10.1) with credit outstanding from the IMF continuously since 1967.1 The Philippines’ status as a “prolonged user” was recognized by the Executive Board as early as 1984.2