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April 23, 2013
The policy response to quantitative easing in mature economies has, thus far, relied heavily on the floating exchange regime and heightened fiscal res

April 22, 2013
Inflation has slowed and external deficits narrowed, but growth prospects have deteriorated in Emerging Europe. With fiscal space constrained, central

April 16, 2013
The good news first: the global expansion remains on track. Confidence in the global manufacturing sector remains at a level consistent with modest gr

April 15, 2013
Egypt urgently needs to rectify serious macroeconomic imbalances as a prelude to tackling deep embedded structural distortions in the economy. Growth

April 12, 2013
Hopes are high that the new Japanese economic policy will finally end deflation. In the short-term, forceful monetary and fiscal stimulus will support

April 12, 2013
External and fiscal deficits widen, driven by higher imports and large increases in current government spending, respectively. We expect both deficits

April 11, 2013
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

April 10, 2013
A rising ratio of current primary spending to GDP, driven by rigid spending items such as salaries and entitlements, has narrowed fiscal policy flexib

April 8, 2013
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

April 5, 2013
The government's renewed commitment to containing the large fiscal imbalance is underscored by stepped-up spending restraint since September, although

April 5, 2013
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

March 26, 2013
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.

March 26, 2013
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 26, 2013
The March edition of the Global Economic Chartbook updates our global outlook, provides charts on the global business cycle, global inflation, world t

March 19, 2013
This note sheds light on the circumstances that have led to the current crisis and the vulnerabilities related to public finances and domestic banks.

March 15, 2013

The five-fold increase in the size of the domestic bond market during the past decade underscores the enormous potential for the capital market, but f

March 14, 2013
The regional turmoil has imposed substantial costs on the Jordanian economy, which we attempt to estimate. Our results show that in the absence of the

March 14, 2013
We have become more optimistic about the global growth recovery this month. First, the data flow in Q1 provided more evidence of strength, particularl

March 14, 2013
Even as headline inflation slowed and real GDP growth softened, the central bank was reluctant to cut interest rates until late 2012, emphasizing its

March 13, 2013
Three years into Europe's crisis, and with output falling in Italy, Spain and Portugal, the different experiences of Ireland and Greece are instructiv
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