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International Monetary Fund. Strategy, Policy, & Review Department
This paper presents traction as a multidimensional concept and discusses a comprehensive and complementary set of approaches to attempt to measure it based on the Fund’s value added to policy dialogue and formulation and public debate in member countries.
International Monetary Fund. Strategy, Policy, & Review Department

’ reception of Fund policy advice at the time of Article IV consultations. Implementation of Fund Article IV advice (hitherto the only measure of Fund traction considered in surveillance) was considered through the lens of a novel database based on Article IV Staff Reports. Uptake of Fund surveillance products by the broader public measured the extent to which surveillance generates public debate. Case studies of good traction covering elements of all the aforementioned approaches provided a comprehensive assessment of traction and highlighted key lessons learned. The

International Monetary Fund. Western Hemisphere Dept.

Monitoring – Schedule Of Purchases Under the EFF Supported Program 9. Program Monitoring – External Financing Requirements and Sources 10. Program Monitoring – Indicators of Fund Credit Under the EFF Supported Program ANNEXES I. Risk Assessment Matrix 11. Debt Sustainability Analysis III. External Sector Assessment IV. Medium-Term Growth Diagnostics V. Building Resilience to Natural Disasters and Climate Change VI. Implementation of Last Article IV Advice APPENDIX I. Letter of Intent Attachment I. Supplementary Memorandum of Economic and

International Monetary Fund

be useful in formulating country-specific advices. They also noted that the indicators are based on inputs from limited respondents and that there are problems in the methodologies and data used to compile them. Collaboration with other agencies 10. Direct cooperation with other institutions on corruption issues was limited . Fifty-eight percent of respondents working on countries with corruption problems consulted with the World Bank regularly (at least once a year) when developing Article IV advice or program conditionality for combating corruption. About

International Monetary Fund. Middle East and Central Asia Dept.

Indicators TABLES 1. Selected Economic Indicators, 2016–26 2. Balance of Payments, 2016–26 3a. Government Finances, 2016–26 3b. General Government Finances, 2016–26 3c. Central Government Finances, 2016–26 4. Monetary Survey, 2016–26 5. Maturing Bonds, Syndicated and Bilateral Loans in the Non-Financial Public Sector 6. Financial Soundness Indicators of the Banking Sector ANNEXES I. Policy Measures Adopted and Announced in 2020–21 II. Implementation of Past Fund Article IV Advice III. Fiscal and Debt Sustainability Assessments IV. External

International Monetary Fund. Strategy, Policy, & Review Department

improve the authorities’ overall receptiveness towards Article IV advice, and that sentiments are stronger during Fund-supported programs compared to before or after. 4. The technical work consisted of (i) compiling a comprehensive dataset of Article IV Staff Reports, (ii) extracting the authorities’ views paragraphs, (iii) assigning topics to each, and (iv) training a deep learning model to recognize the sentiment reflected by authorities in all those paragraphs. With the topic-, time- and country-varying index in hand, we then asked how often countries agree with

International Monetary Fund. African Dept.

. The EFF arrangement approved in December 2018 provided a robust anchor to help sustain their reform agenda, and entrench macroeconomic and financial stability, build resilience against external shocks, and pursue supply-side policies needed to accelerate economic diversification and spur broad-based growth. 3. Ahead of this program, the authorities had recognized that large primary surpluses would be needed to help stabilize high debt levels in the wake of oil price shocks, and considering IMF Article IV advice, undertook significant fiscal consolidation

International Monetary Fund. Western Hemisphere Dept.

Natural Disasters and Climate Change V. Implementation of Last Article IV Advice APPENDIX I. Letter of Intent Attachment I. Supplementary Memorandum of Economic and Financial Policies Attachment II. Technical Memorandum of Understanding Acronyms The following acronyms are used in the text and defined here. ARA Assessment of Reserve Adequacy (IMF) BCED Barbados Customs and Excises Department BEPS Base Erosion and Profit Shifting BERTMC Barbados Economic Recovery and Transformation Monitoring Committee BDS

International Monetary Fund. Middle East and Central Asia Dept.
A swift policy response helped mitigate the economic impact of the twin COVID-19 and oil price shocks and contain the initial spread of the virus. A gradual recovery driven by the non-oil sector is underway, following a deep recession in 2020. Fiscal and external balances have improved with recent oil price increases. The UAE is among the world leaders in delivering vaccinations, with nearly 85 percent of the population fully vaccinated as of October 2021.