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El Salvador
  • Language: en
  • Pages: 84

El Salvador

This paper focuses on policies to raise growth; underpin fiscal sustainability while enhancing social safety nets; and strengthen financial sector stability, deepening, and inclusiveness. GDP growth averaged 2 percent during 2000–14, well below the Central American regional average of 41⁄2 percent. While the underlying causes of the low growth are complex, a key channel through which they are evident appears to be low investment. Given the need to increase growth, revenue-raising measures should be accompanied by cuts in distortionary taxation. Stress tests suggest that financial buffers are adequate to contain most risks. The financial deepening and advancing financial inclusion could have a meaningful impact on both growth and poverty.

Memorylands
  • Language: en
  • Pages: 309

Memorylands

  • Type: Book
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  • Published: 2013-07-18
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  • Publisher: Routledge

Memorylands is an original and fascinating investigation of the nature of heritage, memory and understandings of the past in Europe today. It looks at how Europe has become a ’memoryland’ – littered with material reminders of the past, such as museums, heritage sites and memorials; and at how this ‘memory phenomenon’ is related to the changing nature of identities – especially European, national and cosmopolitan. In doing so, it provides new insights into how memory and the past are being performed and reconfigured in Europe – and with what effects. Drawing especially, though not exclusively, on cases, concepts and arguments from social and cultural anthropology, Memorylands ar...

Guatemala
  • Language: en
  • Pages: 39

Guatemala

This Selected Issues paper estimates both Guatemala’s potential output and output gap using a wide range of econometric techniques. The analysis suggests that Guatemala’s potential output growth is about 3.5 percent for the whole sample period and that the output gap is almost closed. Results are highly robust among different methodologies. Among the methods used, several well-known time series filters and two different estimations of a state-space model are included. Additionally, a test for structural breaks in the series of potential GDP is presented. All methodologies conclude that the output gap at the end of 2012 is almost closed at -0.2 percent of potential GDP.

An Introduction to Non-Ocular Vision Activation
  • Language: en
  • Pages: 150

An Introduction to Non-Ocular Vision Activation

This book was born out of a deep-seated curiosity and a passion for expanding our understanding of human potential. The phenomenon of extraocular vision—seeing without the use of the physical eyes—has intrigued researchers, mystics, and curious minds for centuries. Despite its profound implications, there are only a handful of books available in English that delve into this subject in a meaningful and accessible way. This scarcity inspired the creation of this book.

Looking beyond the Text
  • Language: en
  • Pages: 368

Looking beyond the Text

  • Type: Book
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  • Published: 2025-02-13
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  • Publisher: BRILL

Looking beyond the Text investigates the production, transmission, and reception of texts and manuscripts in ancient Egypt, focusing on the complex practices and culture of the scribes who made them. Drawing on theories and methods from other disciplines such as literary studies, neuroscience, and book history, the authors discuss the physical practices of writing, social contexts of texts and manuscripts, and scribes themselves. The papers examine a wide range of manuscripts, including letters, medical compendia, poems, religious corpora, and other text genres, written on varied media in different time periods. The resulting collection offers new perspectives on the key role of scribes in ancient Egypt and models more contextualized and materially informed modes of philology.

Eurotragedy
  • Language: en
  • Pages: 673

Eurotragedy

EuroTragedy is an incisive exploration of the tragedy of how the European push for integration was based on illusions and delusions pursued in the face of warnings that the pursuit of unity was based on weak foundations.

The Bahamas
  • Language: en
  • Pages: 37

The Bahamas

This paper highlights The Bahamas’ Request for Purchase Under the Rapid Financing Instrument (RFI). The coronavirus disease 2019 (COVID-19) pandemic comes on the heels of the widespread destruction caused by Hurricane Dorian in September 2019. Coupled with domestic containment measures, the collapse in tourism will cause a deep recession. The Bahamian authorities have taken timely and targeted measures to boost health spending and mitigate the socioeconomic impact of the pandemic, supporting jobs and vulnerable segments of the population. The disbursement under the RFI will help boost resources for essential COVID-19-related outlays, strengthen reserves, and catalyze additional support from other international financial institutions, development partners, and the private sector. In order to address the urgent fiscal needs, the central bank will on-lend the disbursement to the Ministry of Finance. The IMF staff is confident that the authorities will pursue appropriate policies for alleviating the impact of the pandemic, based on the country’s strong track record. The Bahamas is assessed to have sustainable debt and adequate capacity to repay the IMF.

Hungary
  • Language: en
  • Pages: 85

Hungary

Hungary is emerging from a period of shocks. The pandemic, Russia’s war in Ukraine, and crisis-related stimulus widened fiscal and external imbalances and triggered double-digit inflation in 2022. Thanks to an effective monetary policy response aided by falling commodity prices and a tighter fiscal stance in 2023, inflation came down significantly, while the labor market and financial sector remained resilient. A large current account deficit in 2022 turned into a surplus, and output is starting to recover. However, significant challenges remain. The fiscal deficit and public-debt-to GDP ratios are well above 2019 levels, and various windfall taxes have created investor uncertainty. Interest rate caps and subsidized lending measures have distorted market rates, and a significant state presence in key sectors impedes competition.

Designing Legal Frameworks for Public Debt Management
  • Language: en
  • Pages: 57

Designing Legal Frameworks for Public Debt Management

Sustainable public debt has gained renewed attention as countries implement fiscal consolidation measures in the aftermath of the global financial crisis. Sound public debt policies and debt management practices require robust legal underpinnings. Complex legal issues however arise in the design of the legal framework, and tradeoffs are required in many instances. This paper analyzes key features of modern public debt management legal frameworks, drawing from examples in advanced, emerging, and frontier markets. It aims to provide guidance for countries that seek to review and strengthen their public debt management legal frameworks.