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Dollarization in Sub-Saharan Africa
Dollarization—the use of foreign currencies as a medium of exchange, store of value, or unit of account—is a notable feature of financial development under macroeconomically fragile conditions. It has emerged as a key factor explaining vulnerabilities and currency crises, which have long been observed in Latin America, parts of Asia, and Eastern Europe. Dollarization is also present, prominently, in sub-Saharan Africa (SSA) where it remains significant and persistent at over 30 percent rates for both bank loans and deposits—although it has not increased significantly since 2001. However, progress in reducing dollarization has lagged behind other regions and, in this regard, it is legitimate to ask whether this phenomenon is an important concern in SSA. This study fills a gap in the literature by analyzing these issues with specific reference to the SSA region on the basis of the evidence for the past decade.
Guinea-Bissau
This paper discusses Guinea-Bissau’s Request for Disbursement Under the Rapid Credit Facility (RCF). In 2012 and 2013, Guinea-Bissau suffered a severe balance of payments shock as the international price of raw cashew nuts—the main export product—fell by about 20 percent per year. The authorities have requested assistance under the RCF to help address the urgent balance of payments and fiscal financing needs for 2014. The IMF staff supports the authorities’ request for assistance under the RCF in view of their currently limited capacity to implement policies of an upper credit tranche-quality economic program, the large and urgent balance of payments need, and the catalytic effect of IMF support for other external financing.
The Trial Of John Jasper For The Murder Of Edwin Drood
"The Trial of John Jasper for the Murder of Edwin Drood" by G. K. Chesterton is a gripping novel filled with mystery and intrigue. The story revolves around John Jasper, a choirmaster with a troubled past involving opium addiction, and his nephew Edwin Drood, who mysteriously disappears. The accused, Jasper, is a complex character with conflicting emotions. He is in love with Rosa Bud, who was previously engaged to Edwin, and is allegedly jealous of his nephew. The arrival of twins Neville and Helena Landless adds further complexity to the case. Witnesses testify about Jasper's suspicious activities and inquiries into destructive substances. As the trial unfolds, a stranger named Dick Datchery gathers evidence that raises doubts about Jasper's guilt. The novel delves into themes of love, jealousy, and the pursuit of justice, keeping readers enthralled with its intricate plot twists and deep character motivations.
The Dickensian
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Celebrities
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The Book Monthly
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Congressional Record
The Congressional Record is the official record of the proceedings and debates of the United States Congress. It is published daily when Congress is in session. The Congressional Record began publication in 1873. Debates for sessions prior to 1873 are recorded in The Debates and Proceedings in the Congress of the United States (1789-1824), the Register of Debates in Congress (1824-1837), and the Congressional Globe (1833-1873)
