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Dollarization in Sub-Saharan Africa
  • Language: en
  • Pages: 75

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.

Harnessing Resource Wealth for Inclusive Growth in Fragile States
  • Language: en
  • Pages: 54

Harnessing Resource Wealth for Inclusive Growth in Fragile States

Like other fragile sub-Saharan African countries, Côte d’Ivoire, Guinea, Liberia, and Sierra Leone are seeking to harness their natural resource potential in the context of ambitious development strategies. This study investigates options for scaling up public investment and expanding social safety nets in a general equilibrium setting. First, it assesses the macro-fiscal implications of alternative fiscal rules for public investment, and, second, it explicitly accounts for redistribution through direct cash transfers. Results show that a sustainable non-resource deficit target is robust to the high uncertainty of resources output and prices, while delivering growth benefits through higher public investment. The scaling-up magnitudes, however, depend on the size of projected resource revenue and absorptive capacity. Adding a social transfer raises private consumption, suggesting that a fraction of the resource revenue could be used to expand safety nets.

The Investment-Financing-Growth Nexus
  • Language: en
  • Pages: 23

The Investment-Financing-Growth Nexus

Liberia is facing large infrastructure gaps and developmental needs that constrain the country’s growth potential. The government has set an ambitious agenda to transform the economy and to reach middle-income country status by 2030 by scaling up investment in infrastructure and human capital. Fiscal space remains constrained by rigidities in current spending and the government will need to resort to borrowing to close some of the gaps. This paper presents an estimate of the nexus between public investment, financing, and growth in Liberia using an inter-temporal macroeconomic model. The model has been calibrated as much as possible to Liberian economic data and assumes that public investment has a high economic and social rate of return and is highly complementary toward private sector investment. The objective of the paper is to contribute to the debate on how fast public investment should be scaled up to address the country’s developmental needs. The paper also highlights the trade-offs and potential risks associated with different financing options and the required changes in fiscal policy to ensure macroeconomic stability.

Trinidad and Tobago
  • Language: en
  • Pages: 104

Trinidad and Tobago

The economy is recovering supported by higher global energy prices and the rebound of the non-energy sector. Inflation has increased driven by imported energy and food prices, partial liberalization of fuel prices, and domestic weather-related shocks. The financial sector appears well-capitalized, liquid, and profitable. Higher global energy prices helped improve the external position, turn the FY2022 fiscal position into a surplus, and lower public debt.

Diplomatic List
  • Language: en
  • Pages: 260

Diplomatic List

  • Type: Book
  • -
  • Published: 1997
  • -
  • Publisher: Unknown

Directory of foreign diplomatic officers in Washington.

Journal of the Senate of the United States of America
  • Language: en
  • Pages: 1116

Journal of the Senate of the United States of America

  • Type: Book
  • -
  • Published: 1964
  • -
  • Publisher: Unknown

None

Foreign Consular Offices in the United States
  • Language: en
  • Pages: 452

Foreign Consular Offices in the United States

  • Type: Book
  • -
  • Published: 1992
  • -
  • Publisher: Unknown

None

Official Records
  • Language: en
  • Pages: 330

Official Records

  • Type: Book
  • -
  • Published: 1958
  • -
  • Publisher: Unknown

None

Our Delegates to the Constitutional Assembly
  • Language: es
  • Pages: 862

Our Delegates to the Constitutional Assembly

  • Type: Book
  • -
  • Published: 1935
  • -
  • Publisher: Unknown

None

Congressional Record
  • Language: en
  • Pages: 1438

Congressional Record

  • Categories: Law
  • Type: Book
  • -
  • Published: 1950
  • -
  • Publisher: Unknown

None