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Western Hemisphere > Cuba

You are looking at 1 - 10 of 14 items for :

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  • International Economics x
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Cover IMF Working Papers
Repeated Use of IMF-Supported Programs: Determinants and Forecasting
Martin Iseringhausen
,
Ms. Mwanza Nkusu
, and
Wellian Wiranto
This paper studies the determinants of repeated use of Fund-supported programs in a large sample covering virtually all General Resources Account (GRA) arrangements that were approved between 1952 and 2012. Generally, the revolving nature of the IMF’s resources calls for the temporary sup-port of member countries to address balance of payments problems while repeated use has often been viewed as program failure. First, using probit models we show that a small number of country-specific variables such as growth, the current account balance, the international reserves position, and the institutional framework play a significant role in explaining repeated use. Second, we discuss the role of IMF-specific and program-specific variables and find evidence that a country’s track record with the Fund is a good predictor of repeated use. Finally, we conduct an out-of-sample forecasting exer-cise. While our approach has predictive power for repeated use, exact forecasting remains challenging. From a policy perspective, the results could prove useful to assess the risk IMF programs pose to the revolving nature of the Fund’s financial resources.
Keywords:
WP; explanatory variable; country; regime; IMF lending; Fund resources; GRA arrangements; program success; IMF quota; IMF support; adjustment program; lending practice; IMF arrangement; successor program; IMF-supported adjustment program; program period; IMF-supported programs consist; program failure; quota share; Current account balance; Exchange rate arrangements; Arrears; International reserves; Global
Cover IMF Working Papers
Revisiting the Potential Impact to the Rest of the Caribbean from Opening US-Cuba Tourism
Mr. Sebastian Acevedo Mejia
,
Mr. Trevor Serge Coleridge Alleyne
, and
Rafael Romeu
The Cuban revolution and the subsequent US embargo on Cuba helped shape the tourism sector in the Caribbean, facilitating the birth and growth of alternative destinations. Therefore, the apprehension of the Caribbean tourism industry towards a change in US travel policy to Cuba is understandable, but likely unwarranted. The history of tourism in the region has shown that it is possible for all destinations to grow despite large changes in market shares. Our estimations show that liberalizing US-Cuba tourism could result in US arrivals to Cuba of between 3 and 5.6 million, most of it coming from new tourists to the region. We also identify the destinations most at risk of changes in US-Cuba relations.
Keywords:
WP; tourist; Cuba; tourism industry; Tourism; Caribbean; Trade; Gravity model; US-Cuba relation; opening US-Cuba; tourism flow; visit Cuba; US-Cuba restriction; US-Cuba tourism; Gravity models
Cover Finance & Development
Finances & Développement, septembre 2015
International Monetary Fund. External Relations Dept.
Finances & Développement, septembre 2015
Keywords:
FD; F&D; economy; central bank; investment; monetary policy; financial crisis; investor
Cover Finance & Development
Finanzas y Desarrollo, septiembre de 2015
International Monetary Fund. External Relations Dept.
Finanzas y Desarrollo, septiembre de 2015
Keywords:
FD; F&D; economy; central bank; investment; monetary policy; financial crisis; investor
Cover Finance & Development
Finance and Development, September 2015
International Monetary Fund. External Relations Dept.
This chapter presents the point of view and ideas of Sabina Alkire, an economist. Alkire wants the Multidimensional Poverty Index to be part of a data revolution to guide the fight against poverty. According to Alkire, learning to meditate soothed away what she describes as the temper tantrums of her childhood. The chapter also highlights the fact that an index is only as good as its underlying data, and in emerging market economies that quality is often inadequate. The quest for better poverty metrics coincides with growing doubts about the ability of conventional statistics, especially GDP, to gauge economic growth in the digital economy, let alone well-being, welfare, and environmental sustainability.
Keywords:
FD; F&D; economy; central bank; investment; monetary policy; financial crisis; investor; IMF study; Columbia University professor; IMF report; price of commodity; post-World War II capitalism; Stress testing; Foreign direct investment; Islamic finance; Income inequality; Global; East Asia; Caribbean; Central America; South America
Cover IMF Staff Country Reports
St.Vincent and the Grenadines: Staff Report for the 2011 Article IV Consultation
International Monetary Fund
This consultation paper explains that in addition to the adverse impact of the global slowdown and higher commodity prices, St. Vincent and the Grenadines has been hit by two successive natural disasters in the last 12 months. As a result, real GDP has been contracted by a cumulative 4.7 percent since 2007 and is expected to remain slightly negative this year. Growth is expected to improve gradually toward its potential, but significant downside risks remain, largely related to developments in the global economy.
Keywords:
ISCR; CR; debt; GDP; present value; real GDP; core inflation; growth potential; debt service; growth in St. Vincent and the Grenadines; creating flow; private sector; sustainability framework; Public and publicly-guaranteed external debt; Fiscal stance; Caribbean; Global; North America; Northern Europe
Cover IMF Working Papers
Vacation Over: Implications for the Caribbean of Opening U.S.-Cuba Tourism
Rafael Romeu
An opening of Cuba to U.S. tourism would represent a seismic shift in the Caribbean's tourism industry. This study models the impact of such a potential opening by estimating a counterfactual that captures the current bilateral restriction on tourism between the two countries. After controlling for natural disasters, trade agreements, and other factors, the results show that a hypothetical liberalization of Cuba-U.S. tourism would increase long-term regional arrivals. Neighboring destinations would lose the implicit protection the current restriction affords them, and Cuba would gain market share, but this would be partially offset in the short-run by the redistribution of non-U.S. tourists currently in Cuba. The results also suggest that Caribbean countries have in general not lowered their dependency on U.S. tourists, leaving them vulnerable to this potential change.
Keywords:
WP; U.S. tourist; tourism restriction; market concentration; OECD country; U.S. tourism
Cover A Guide to Direction of Trade Statistics
A Guide to Direction of Trade Statistics
International Monetary Fund

Abstract

This handbook issued by the IMF is primarily intended for users of the IMF's direction of trade database. The guide describes the collection, compilation, and dessemination of statistics on exports and imports by partner country. National compilers of statistics on trade by country may also derive some benefit from the Guide.

Keywords:
BOOK; estimation type; reported data; partner data; partner country data; oil exporting country; Imports; Exports; Direction of trade; Trade balance; Trade systems; Africa; Middle East; Western Hemisphere; Europe; Asia and Pacific; trade data; country page; exchange record statistics; time series key; Customs document; page data
Cover A Guide to Direction of Trade Statistics
A Guide to Direction of Trade Statistics
International Monetary Fund

Abstract

Ce manuel a été publié par le FMI pour aider les utilisateurs de la base de données « Direction of Trade Statistics » du FMI. Le guide contient des recommandations sur lesquelles se fondent les déclarations au sujet de la répartition géographique des échanges régulièrement publiées par le FMI dans ses principales publications statistiques : Direction of Trade Statistics et International Financial Statistics .

Keywords:
BOOK; estimation type; reported data; partner data; partner country data; oil exporting country
Cover The Fund Agreement in the Courts, Vol. II
The Fund Agreement in the Courts, Vol. II
Mr. Joseph Gold

Abstract

Written by Joseph Gold, former General Counsel and now Senior Consultant at the IMF, these volumes contain discussions of the ever-increasing body of cases in which the Articles have had a bearing on issues before the courts.

Keywords:
BOOK; article; court; control regulation; exchange contract; Fund; exchange control regulation; unit of account; lower court; Exchange restrictions; Currencies; Exchange rates; Insurance; Europe; South America; Global