Among the largest entities in the world are the World Bank Group and the International Monetary Fund (IMF) Group. From the perspective of researchers in accounting, such size is used as a proxy for political visibility; and often implicit asymmetries of power and information become explicit in...

Reaping the full benefit of adjustment packages depends on a government's commitment to reform as well as a variety of complementary factors, many of which have not been duly considered because of the lack of time, resources, and skills. It is becoming increasingly clear that if these packages...

The financial assistance the International Monetary Fund (IMF) provides is assumed to catalyze fresh investment. Such a catalytic effect has, however, proven empirically elusive. This paper deviates from the standard approach based on the net capital inflow to study instead the IMF's catalytic...

The data referred to in the context of fiscal policy in general, or IMF-supported programs in particular, can reflect different meanings of the term government. What definition of government underlies such indicators as public debt, measures of revenue or expense, and government deficit? For...

We analyze the determinants of IMF lending since the early nineties, a period during which the roles of financial cycles and interconnectedness as amplifiers and transmitters of economic crises have gained prominence. First, we show that the global financial cycle is an important driver of IMF...

The World Bank, the International Monetary Fund and European Bank for Reconstruction and Development together comprise the foundation of the global and European economic system and are extremely close in the intertwinement of their ideologies, purposes and operations, even though EBRD is not...

With the global economy gaining some momentum, economies of Latin America and the Caribbean are recovering from a recession at the regional level in 2016. This gradual improvement can be understood as tale of two adjustments, external and fiscal, that are ongoing in response to earlier shocks....

This paper analyzes that the IMF has moved beyond its traditional fiscal-centric approach to recognize that social protection can also be macro-critical for broader reasons including social and political stability concerns. Evaluating the IMF's involvement in social protection is complicated by...

This 2017 Article IV Consultation highlights that Serbia's economy has strengthened impressively since the adoption of the economic program supported by the Stand-By Arrangement. Economic growth is expected to reach 3 percent in 2017. The fiscal deficit should narrow to 1.1 percent of GDP-the...

This paper discusses Liberia's Seventh and Eighth Reviews under the Extended Credit Facility Arrangement, and Request for Waiver of Nonobservance of Performance Criteria (PCs). Three of six structural benchmarks (SBs) for the seventh review and two of four SBs for the eighth review were met. The...