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World Bank support for investment in EU and Western Balkan transport
Over the six decades during which the World Bank has been active in Europe, its engagement has evolved hand in hand with the development of the continent. Initially supporting reconstruction efforts after World War II, it later shifted the focus of its action to development support. In the past, as today, it has provided financing, knowledge and assistance to countries seeking to join the European Union. As a starting point in providing a deeper insight into how the World Bank contributes to the ...
Non-Performing Loans in the Banking Union: Stocktaking and Challenges
This briefing presents the state of play of non-performing loans (NPL) in the euro area, and provides an overview of the various measures implemented across Member States to facilitate their resolution.
The International Monetary Fund (IMF): Rebalancing global economic weights
Conceived at the Bretton Woods conference in 1944, the International Monetary Fund (IMF) officially came into existence on 27 December 1945 and started operations in 1947. Its primary purpose is to ensure the stability of the international monetary system – the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other. The IMF has 188 member countries, all of which are represented in the highest decision-making body, the Board of Governors ...
The European Union's Role in International Economic Fora - Paper 4: The IMF
This paper forms part of a series of nine studies on the role of the European Union in international economic fora, prepared by Policy Department A at the request of the Committee on Economic and Monetary Affairs of the European Parliament. It provides factual background information about the International Monetary Fund (IMF) as well as about the EU’s relations with the IMF (both in terms of the IMF's role in the EU and the EU’s role, representation and impact in the IMF). The paper focuses in particular ...
Is the Financial Crisis the Only Threat to Swaziland's Regime ?
Swaziland is one of the smallest African countries as well as the only absolute monarchy remaining on the continent. Its political system is an anomaly in Southern Africa, the most advanced and progressive region of the sub-Saharan region. The Swazi state has been mired in a deep financial crisis for the last two years. Given that a large segment of the population lives under the poverty line and that the HIV infection rate is one of the highest in the world, the effects of the financial crisis ...
Blending Grants and Loans for Financing the EU's Development Policy in the Light of the Commission Proposal for a Development Cooperation Instrument (DCI) for 2014-2020
For the next Multiannual Financial Framework for 2014-2020 the European Commission proposes to introduce loan and grant blending facilities into the Development Co-operation Instrument (DCI). These facilities have succeeded in leveraging considerable development finance from development banks and other financiers in the countries embraced by the EU Neighbourhood policy, the Balkans and Sub-Saharan Africa. There are justified concerns, however, that these blending facilities are not appropriate to ...
The EU Constrained by the G20 in Los Cabos
Largely dominated by the economic crisis in the Euro area, the G20 summit held in Los Cabos, Mexico last week provided the EU with greater financial buffers, but little peace of mind. The reinforcement of the International Monetary Fund’s firewall fund — and the role of emerging economies in bolstering the fund — may have been one of the few positive results to emerge from an otherwise cautious summit. Yet the EU also faced a barrage of criticism, and ultimately agreed to involve foreign leaders ...
Greek debt restructuring
Greece has recently secured a deal with private-sector lenders to ease its financial situation. Implementing this deal will make it possible for Greece to receive further bailout funds from the European Union (EU) and the International Monetary Fund (IMF).
The International Response to the Global Crisis and the Reform of the International Financial and Aid Architecture
The financial crisis which began in 2008 has taken its toll on the “real economy”, causing a record drop in trade and sharp rises in unemployment across the world. The effects on all countries are dramatic and the impact is particularly harsh on developing countries who cannot afford the fiscal stimulus packages being deployed in Europe and North America. To this end, the leaders of the G-20 agreed on a series of measures to help the poorest countries of the world. The study by Professor Woods analyses ...
Third World Debt - Analyses