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Tunisia: Widening Twin Deficits are a Source of Concern

External and fiscal deficits widen, driven by higher imports and large increases in current government spending, respectively. We expect both deficits

Tunisia: At Political Crossroads with a Convalescent Economy

A new coalition government was formed in March. Tunisia's political transition by end-2013 hinges on agreement on a constitution followed by general e

Uruguay: Brewing Fiscal Imbalances

A rising ratio of current primary spending to GDP, driven by rigid spending items such as salaries and entitlements, has narrowed fiscal policy flexib

Slovenia: Next in Line?

Banking issues differ greatly from Cyprus, with Slovenian bank assets only one-third the EU average of 3.5 times GDP. The largest banks are state-owne

India: Fiscal Deficit Contained

The government's renewed commitment to containing the large fiscal imbalance is underscored by stepped-up spending restraint since September, although

Bahrain: Fiscal Pressures Persist

Bahrain is the only country in the GCC that is running a fiscal deficit. A sharply higher level of recurrent expenditure was locked in last year follo

Cyprus: Out Of The Fire Into The Frying Pan

The March 24 agreement with the Troika put an end to a prolonged period of uncertainty, but is likely to have a lasting adverse effect on the economy.

Euro Briefing: The Post Solidarity Era

After a week of messy negotiations and flawed proposals, default and devaluation were avoided in Cyprus. Looking ahead, it remains to be seen whether

March 2013 Global Economic Chartbook Update

The March edition of the Global Economic Chartbook updates our global outlook, provides charts on the global business cycle, global inflation, world t

Cyprus: Just The Facts

This note sheds light on the circumstances that have led to the current crisis and the vulnerabilities related to public finances and domestic banks.



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