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Georgia
Georgia’s economic performance remains robust. Growth has moderated from double digits but remains high, inflation is low, and fiscal and financial buffers are healthy. EU candidate status has boosted sentiment, but the global environment remains highly uncertain due to ongoing conflicts and shifting geo-economic patterns. Georgia should continue to strengthen its resilience to adverse shocks by maintaining prudent macroeconomic policies and boost its growth potential by addressing long-standing structural challenges, capitalizing on new economic opportunities, and making decisive progress towards EU accession.
Design Methods
Since its initial publication in 1970, Design Methods has been considered the seminal work on design methodology. Written by one of the founders of the design methods movement, it has been highly praised in international journals and has been translated into Japanese, Romanian, Polish, Russian, and Spanish. As Jones states in the preface: "Alongside the old idea of design as the drawing of objects that are then to be built or manufactured there are many new ideas of what it is, all very different: designing as the process of devising not individual products but whole systems or environments such as airports, transportation, hypermarkets, educational curricula, broadcasting schedules, welfare...
Agricultural Implements of the Roman World
This book deals with the tools that the Roman world used in farming and with the way they used them. The author uses practical knowledge of agriculture, as well as learning, to identify and interpret the objects under examination.
Bosnia and Herzegovina
This paper presents Bosnia and Herzegovina’s Request for Purchase Under the Rapid Financing Instrument (RFI). RFI is expected to help provide support for scaling up priority spending on health and social assistance, while preserving debt sustainability. Preserving the currency board arrangement and raising the resilience of the banking system play a crucial role for restoring external and internal balances. High frequency monitoring of the banks, including their liquidity positions and asset quality, is crucial at this juncture. Economic activity is tentatively projected to decline by 5 percent in 2020 on account of a pronounced fall in exports and remittances and reduced domestic demand and supply. High political uncertainties pose additional downside risks. Despite a recent easing of political tensions, the complexity of the political environment is a downside risk, which could lead to policy slippage and weakened response measures. The IMF staff supports the authorities’ request for a purchase under the RFI considering the urgent nature of the external financing needs caused by the coronavirus disease 2019 crisis.
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)
Assessing Bias and Accuracy in the World Bank-IMF's Debt Sustainability Framework for Low-Income Countries
The World Bank and the IMF have adopted a debt sustainability framework (DSF) to evaluate the risk of debt distress in Low Income Countries (LICs). At the core of the DSF are empirically-based thresholds for each of five different measures of the debt burden (the “debt threshold approach” DTA). The DSF contains a rule for aggregating the information contained in these five different variables which we label the “worst-case aggregator” (WCA) in view of the fact that the DSF considers a breach of any one of the thresholds sufficient to indicate a high risk of debt distress. However, neither the DTA nor the WCA has heretofore been subject to empirical testing. We find that: (1) the DTA loses information relative to a simple proposed alternative; (2) the WCA is too conservative (predicting crises too often) in terms of the loss function used in the DSF; and (3) the WCA is less accurate than some simple proposed alternative aggregators as a predictor of debt distress.
