Publications

Euro Area: High Unemployment Likely to Linger

September 5, 2013

The good news: Euro Area unemployment fell for the first time in two years in June-July. The bad news: Unemployment is likely to decline only very gra

Nigeria: Fiscal Policy Challenges and Complexities

September 5, 2013

Despite its substantial oil wealth, Nigeria has recorded federal budget deficits for the past four years. Our projections suggest that the deficit wil

Turkey: Growth Set to Slow as Confidence Weakens

September 3, 2013

Large macroeconomic imbalances and increased political tensions have left Turkey among the hardest hit emerging markets as global market sentiment wor

Argentina: A Never Ending Saga

September 3, 2013

The U.S. Court of Appeals has reaffirmed the verdict of a lower court regarding payment to holdout creditors. It has, however, stayed its ruling pendi

Jordan: Challenges Remain to Narrow the Large Twin Deficits

August 29, 2013

The turmoil in the region has aggravated the twin deficits in 2012. The removal of fuel subsidies combined with a surge in grants will narrow the fisc

Jordan: Steady Recovery in a Fragile Regional Environment

August 22, 2013

Economic activity is expected to recover gradually in 2013 and 2014, helped by sizable multilateral and bilateral support in the form of loans and gra

Tanzania: The Promise and Challenge of Gas Discoveries

August 22, 2013

Real GDP growth should remain buoyant, at around 8% in 2013 and 2014. Strong FDI inflows are likely to continue over the medium term. Offshore gas pro

Malaysia: Reelected Government's Policy Priorities

August 22, 2013

After May's narrow election victory, the government is likely to target greater fiscal adjustment in the upcoming budget for 2014, while monetary poli

Romania: Near-Term Stability, Medium-Term Challenges

August 21, 2013

With sharply reduced external imbalances likely to be sustained and government deficit set to remain less than 3% of GDP, near-term risks appear well

Czech Republic: A Cautious Return To Growth

August 19, 2013

Real GDP growth recovered in the second quarter and short-term indicators suggest further firming in the third quarter. Domestic demand remains very w

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