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The Ali Abbas Story
In March 2003, during a missile strike in southern Baghdad, twelve-year-old Ali Abbas sustained terrible burns and lost not only his arms, but his family. From the moment his photo appeared in newspapers, this appealing young boy became an international symbol of suffering, and his courage and resilience touched hearts around the world. This is his story—his early life, what really happened during the bombardment, and the months that followed his eleventh-hour air-lift to safety, when he was brought to Britain for medical care. In his own words, Ali Abbas also talks about his life and future—a future made brighter by both family and strangers.
Sovereign Debt
This book is an attempt to build some structure around the issues of sovereign debt to help guide economists, practitioners, and policymakers through this complicated, but not intractable, subject.
A Guide to Sovereign Debt Data
The last decade or so has seen a mushrooming of new sovereign debt databases covering long time spans for several countries. This represents an important breakthrough for economists who have long sought to, but been unable to tackle, first-order questions such as why countries have differential debt tolerance, and how debt levels affect the scope for countercyclical policy in recessions and financial crises. This paper backdrops these recent data efforts, identifying both the key innovations, as well as caveats that users should be aware of. A Directory of existing publicly-available sovereign debt databases, featuring compilations by institutions and individual researchers, is also included.
House of Abbas
Nineth century Baghdad. Al-Amin, son of the great Abbasid caliph, Harun al-Rashid, now reigns over the powerful and most prosperous empire in the history of Islam. Under the rule of his father, the Islamic Golden Age was at its zenith - a time of unprecedented scientific, religious and artistic prosperity. But the burden of maintaining his father’s vast empire weighs heavy upon the reckless al-Amin. His stately and learned half-brother, al-Ma'mun, has suffered witnessing the degradation of the House of Abbas at the hands of the careless new caliph. What was once an intimate, fraternal bond may soon untether, jeopardising the legacy of Harun al-Rashid and threatening to tear a once glorious empire apart from the inside out. Written in pentameter, House of Abbas is an ambitious verse play that unapologetically conjures the spectre of a true Shakespearean tragedy.
Dealing with High Debt in an Era of Low Growth
task has become particularly challenging in European advanced economies where expectations of low growth and limits to monetary policy support are shifting the burden of adjustment onto fiscal consolidation. The SDN will investigate the main drivers behind successful past debt reversals, focusing on macroeconomic and financial market conditions, the speed and form of fiscal adjustment, and the institutional policy setting, among other things. Its policy conclusions will depend on the emerging stylized facts but are likely to include considerations on the design and pace of fiscal consolidation, taking into account country-specific as well as regional economic, institutional, and political factors.
Sovereign Debt Composition in Advanced Economies
We examine how the composition of public debt, broken down by currency, maturity, holder profile and marketability, has responded to major debt accumulation and consolidation episodes during 1900-2011. Covering thirteen advanced economies, we focus on debt structure shifts that occurred around the two World Wars and global economic downturns, and the subsequent debt consolidations. Notwithstanding data gaps, we are able to recover some broad common patterns. Episodes of large debt accumulation—essentially, large increases in debt supply— were typically absorbed by increases in short-term, foreign currency-denominated, and banking-system-held debt. However, this pattern did not hold durin...
A Historical Public Debt Database
This paper describes the compilation of the first truly comprehensive database on gross government debt-to-GDP ratios, covering nearly the entire IMF membership (174 countries) and spanning an exceptionally long time period. The database was constructed by bringing together a number of other datasets and information from original sources. For the most recent years, the data are linked to the IMF World Economic Outlook (WEO) database to facilitate regular updates. The paper discusses the evolution of debt-to-GDP ratios across country groups for several decades, episodes of debt spikes and reversals, and a pattern of negative correlation between debt and growth.
Fiscal Adjustment in Sudan Size, Speed, and Composition
The paper aims to identify the optimal size, speed and composition of the medium-term fiscal adjustment in the context of Sudan's limited oil reserves. The permanently sustainable non-oil primary balance approach suggests the need for significant fiscal adjustment over the medium term, requiring a widening of the tax base. Cross-country comparisons highlight VAT and personal income tax (as well as tax administration) as key areas for reform. The paper also suggests the need for complementary expenditure-side measures in the areas of petroleum pricing and anchoring fiscal policy in non-oil indicators.
Hajj - My Pilgrimage
In 2011 I took my mother and a wheelchair on Hajj. I'm still not sure how she talked me into it. It turned out to be a journey filled with tragedy, comedy and epiphany. This travelogue gives an insight into the essential and yet mysterious Islamic endeavour of Hajj. It is a guide for the unprepared and light relief for those who, like me, struggle to take things too seriously. Those of particularly orthodox or conservative religious views should beware.
The Prophet's Heir
The life and legacy of one of Mohammad’s closest confidants and Islam’s patron saint: Ali ibn Abi Talib Ali ibn Abi Talib is arguably the single most important spiritual and intellectual authority in Islam after prophet Mohammad. Through his teachings and leadership as fourth caliph, Ali nourished Islam. But Muslims are divided on whether he was supposed to be Mohammad’s political successor—and he continues to be a polarizing figure in Islamic history. Hassan Abbas provides a nuanced, compelling portrait of this towering yet divisive figure and the origins of sectarian division within Islam. Abbas reveals how, after Mohammad, Ali assumed the spiritual mantle of Islam to spearhead the movement that the prophet had led. While Ali’s teachings about wisdom, justice, and selflessness continue to be cherished by both Shia and Sunni Muslims, his pluralist ideas have been buried under sectarian agendas and power politics. Today, Abbas argues, Ali’s legacy and message stands against that of ISIS, Al-Qaeda, and Taliban.
