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International Monetary Fund. External Relations Dept.

Public Information Notices (PINs) are IMF Executive Board assessments of members’ economic prospects and policies issued following Article IV consultations—with the consent of the member—with background on the members’ economies and following policy discussions in the Executive Board at the decision of the Board. Recently issued PINs include

International Monetary Fund. External Relations Dept.

In Press Release 99/30, dated July 14, the IMF Executive Board adopted the following Resolution of Appreciation for outgoing Deputy Managing Director Alassane D. Ouattara. The text of the press release is also available on the IMF’s website (http://www.imf.org).

International Monetary Fund. External Relations Dept.

On May 22, Manuel Guitián, Director of the IMF’s Monetary and Exchange Affairs Department (MAE), discussed his department’s work on capital account convertibility, financial sector soundness, and exchange rate regimes. Guitián, a national of Spain with a law degree from the University of Santiago, Spain, and a Ph.D. in economics from the University of Chicago, has been Director of MAE since 1995.

International Monetary Fund. Western Hemisphere Dept.

1. One year into the pandemic Aruba is enduring its fourth wave of infections. Since mid-March the number of active COVID-19 infections started increasing again, reaching a peak in early April. Active cases are currently about 0.5 percent of the population, and the total infection rate (including visitors), reached 8.6 percent, closely trailing the US. However, the peak of the wave has already passed, and the healthcare system remains resilient. Vaccinations advance steadily: so far almost 20 percent of the population has been vaccinated, about 9 percent having received the second dose.

Mario de Zamaróczy

The Republic of Kiribati, a lower-middle-income micro-island state in the central Pacific, confronts daunting physical and economic challenges. Economic policies are rooted in communally oriented values and involve an extensive role for the state and a gradualist approach to structural reform. With prudent economic management, the country has succeeded in maintaining macroeconomic stability and building up large external assets over the past decade. However, slow growth has failed to raise real per capita income. To raise living standards on a sustainable basis, the country will need to foster a dynamic private sector that can serve as the main engine of growth.

International Monetary Fund. External Relations Dept.

Following is an extract of a recent IMF press release. The full text is available on the IMF’s website (http://www.imf.org) under “news” or on request from the IMF’s Public Affairs Division (202) 623-6278.

International Monetary Fund. External Relations Dept.

99/75: Simple Monetary Policy Rules Under Model Uncertainty, Peter Isard, Douglas Laxton, and Ann-Charlotte Eliasson

International Monetary Fund. External Relations Dept.

Macroeconomic Issues and Policies in the Middle East and Africa, edited by Zubair Iqbal ($28.00)

International Monetary Fund. External Relations Dept.

The SDR interest rate and the rate of remuneration are equal to a weighted average of interest rates on specified short-term domestic obligations in the money markets of the five countries whose currencies constitute the SDR valuation basket. The rate of remuneration is the rate of return on members’ remunerated reserve tranche positions. The rate of charge, a proportion of the SDR interest rate, is the cost of using the IMF’s financial resources. All three rates are computed each Friday for the following week. The basic rates of remuneration and charge are further adjusted to reflect burden-sharing arrangements. For the latest rates, call (202) 623-7171 or check the IMF website (http://www.imf.org/cgi-shl/bur.pl?2001).