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The Reinvention  of Marketing

by Deborah Malone

The marketing industry is undergoing dramatic transformation brought about by technology, globalization, and shifting economics. "The reinvention of marketing" is becoming a more critical issue as the industry...


We Do Know How: A Buyer-Led Approach to Creating Jobs for the Poor

by James T. Riordan

This book by a practitioner (not an academic, a government official, or a pundit) has been written for practitioners and offers fresh thinking on how to do international development work. It combines that thinking...


Liberia: Ad Hoc Review Under the Extended Credit Facility Arrangement and Request for Augmentation of Access and Modification of Performance Criteria-

by International Monetary Fund. Afri Dept.

KEY ISSUES Background. With the highest number of new and cumulative Ebola cases recorded to date, Liberia is the country most affected by the epidemic in West Africa. In addition to exacting a heavy human toll,...


Guinea : Requests for Disbursement Under the Rapid Credit Facility and for Modification of Performance Criteria Under the Extended Credit Facility Arr

by International Monetary Fund. Afri Dept.

EXECUTIVE SUMMARY Guinea is suffering from an outbreak of Ebola, which has become a humanitarian crisis with a significant economic impact. Preliminary estimates suggest a negative impact on 2014 growth, which...


Sierra Leone : Ad Hoc Review Under the Extended Credit Facility Arrangement and Request for Augmentation of Access and Modification of Performance Cri

by International Monetary Fund. Afri Dept.

KEY ISSUES Background. The Ebola outbreak that started in one district in late May has spread to the entire country, overwhelming already weak institutions and ill-equipped medical facilities. At end-August,...


St. Kitts and Nevis : Ninth and Final Review Under the Stand-By Arrangement, Request for Waiver of Nonobservance of Performance Criterion, and Proposa

by International Monetary Fund. West Dept.

KEY ISSUES Stand-By Arrangement (SBA): The 36-month SBA for SDR 52.51 million (590 percent of quota) was approved on July 27, 2011. The seventh and eighth reviews were completed on March 19, 2014, together with...


Guyana: 2013 Article IV Consultation - Staff Report; Press Release

by International Monetary Fund. West Dept.

The economy has experienced seven consecutive years of robust growth, buoyed by high commodity prices, foreign direct investment and expansion of private sector credit. As part of a strategy to sustain growth,...


How Much is A Lot? Historical Evidence on the Size of Fiscal Adjustments

by Julio Escolano & Laura Jaramillo

The sizeable fiscal consolidation required to stabilize the debt-to-GDP ratios in several countries in the aftermath of the global crisis raises a crucial question on its feasibility. To answer this question,...


Cabo Verde  : 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Cabo Verde

by International Monetary Fund. Afri Dept.

KEY ISSUES Context: Over the last two decades, good governance and sound macroeconomic management have delivered remarkable economic and social progress to Cabo Verde. More recently, however, growth has slowed...


The Great Cross-Border Bank Deleveraging: Supply Constraints and Intra-Group Frictions

by Eugenio Cerutti & Stijn Claessens

International banks greatly reduced their direct cross-border and local affiliates' lending as the global financial crisis strained balance sheets, lowered borrower demand, and changed government policies. Using...


Jamaica  : Fifth Review Under the Extended Fund Facility and Request for Modification of Performance Criteria-Staff Report; Press Release

by International Monetary Fund. West Dept.

EXECUTIVE SUMMARY Recent data show a gradual economic recovery, with growth projected to reach just over 1 percent in 2014/15. Inflation has trended down to about 8 percent. The program is on track. Jamaica?s...


Reforming the Corporate Governance of Italian Banks

by Nadège Jassaud

Sound corporate governance is essential for a well-functioning banking system and the integrity of financial markets. The paper discusses the corporate governance of Italian banks, its regulatory framework,...


Soaring of the Gulf Falcons: Diversification in the GCC Oil Exporters in Seven Propositions

by Reda Cherif & Fuad Hasanov

A key priority for the Gulf Cooperation Council (GCC) countries is to create a dynamic non-oil tradable sector to support sustainable growth. Since export diversification takes a long time, it has to start now....


A Constrained Choice? Impact of Concessionality Requirements on Borrowing Behavior

by Calixte Ahokpossi & Laurence Allain

This paper uses the propensity matching score approach to assess the impact of the IMF's debt limits policy (DLP) on borrowing behavior in countries eligible to borrow from its concessional lending window. The...


Does the Clarity of Inflation Reports Affect Volatility in Financial Markets?

by Ales Bulir & Martin Cihák

We study whether clarity of central bank inflation reports affects return volatility in financial markets. We measure clarity of reports by the Czech National Bank, the European Central Bank, the Bank of England,...


Saudi Arabia: 2014 Article IV Consultation-Staff Report; Press Release

by International Monetary Fund. Midd Dept.

KEY ISSUES Context. Saudi Arabia's economy has grown very strongly in recent years, benefitting from high oil prices and output, strong private sector activity, and government spending. It has played a systemic...


Iceland: Technical Assistance Report-Modernizing the Icelandic VAT

by International Monetary Fund. Fisc Dept.

EXECUTIVE SUMMARY Iceland's government, elected in 2013, is conducting a general review of its tax policy with a view toward making it more efficient and less distortionary.1 To this end, it has targeted VAT...


Burundi  : 2014 Article IV Consultation, Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility; and Request for Modificatio

by International Monetary Fund. Afri Dept.

KEY ISSUES Context: Since the last Article IV Consultation in 2012, notable progress has been achieved to enhance macroeconomic stability, underpinned by the Fund-supported program. However, continued progress...


Sri Lanka : First Post-Program Monitoring Discussion-Staff Report; Press Release; and Statement by the Executive Director for Sri Lanka

by International Monetary Fund. Asia Dept

EXECUTIVE SUMMARY Context. Sri Lanka’s economy has navigated recent market turbulence relatively well. Growth has remained solid, inflation is in mid-single digits, and the current account deficit has narrowed....


Sri Lanka : Ex-Post Evaluation of Exceptional Access Under the 2009 Stand-By Arrangement-Staff Report; Press Release; and Statement by the Executive D

by International Monetary Fund. Asia Dept

EXECUTIVE SUMMARY Sri Lanka’s 2009 Stand-By Arrangement was initiated at the onset of the global financial crisis. It also coincided with the ending of the country’s decades-old civil conflict. This unusual...