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Mr. Robert A Feldman
This paper assesses Germany's external competitive position from several angles. It first examines movements in several real exchange rate indices. The analysis of competitiveness is then supplemented by using the so-called constant market share approach, and finally by examining briefly both pressures on profit margins in the tradable goods sector as well as export prospects. A key conclusion of the analysis is that the deterioration of Germany's external competitiveness suggested by some commonly used indicators of the real appreciation of the deutsche mark, such as those based on relative unit labor costs in manufacturing, is generally exaggerated.
International Monetary Fund

The government of Pakistan completed its second full Poverty Reduction Strategy Paper (PRSP-II) in December 2008. PRSP-II builds on the first Poverty Reduction Strategy Paper (PRSP-I), which was adopted in December 2003, but is shaped by recent political and economic developments. Against this background, PRSP-II focuses on regaining macroeconomic stability and the growth momentum of 5–7 percent a year, while protecting the poor and vulnerable—objectives that are supported by the IMF’s Stand-By Arrangement and the World Bank’s proposed Poverty Reduction and Economic Support Operation.

Mr. Paul Henri Mathieu and Clinton R. Shiells

This paper focuses on the Doha Development Agenda. The paper highlights that over the past 20 years, world trade has grown twice as fast as world real GDP, deepening economic integration and raising living standards. The paper underscores that the launch of a new trade round in Doha in November 2001 was a major breakthrough following the debacle in Seattle in 1999. The new round places the needs and interests of developing countries at the heart of its work, but a successful outcome for rich and poor nations alike is by no means a foregone conclusion.