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News & Events
News
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24-Nov-2006
Despite progress in macroeconomic stability, Brazil's GDP growth needs to rise to close the income gap relative to the OECD. This will require consolidating macroeconomic adjustment, boosting business innovation and improve formal labour utilisation.
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18-Oct-2006
Despite substantial progress with macroeconomic stabilisation and institutional reform, the recent turmoil in financial markets has highlighted the need for further structural reforms to increase productivity growth, expand the formal sector, and consolidate macroeconomic stability.
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09-Aug-2006
Iceland’s economy and per capita income have grown at an impressive pace since the mid-1990s, making the country one of the most prosperous in the OECD. However, growth has been volatile and accompanied by recurrent large external and internal economic imbalances that reflect in part major investments in the energy and aluminium smelting sectors but also buoyant credit-funded household demand. In the recent period, concerns about these developments have led to a decline in investor confidence and sharp exchange rate correction, boosting inflation.
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09-Aug-2006
Iceland's growth performance has been impressive, but it has been accompanied by large economic imbalances that need to be corrected swiftly by approriate monetary and fiscal policies. Other challenges include minimising risks to the stability of, and completing reforms in, the financial sector as well as human capital development to sustain the rise in the country's prosperity.
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31-Jul-2006
Australia is currently riding the global boom in commodities and must maintain macroeconomic stability when commodity prices eventually weaken. Sustaining long-term growth in living standards will require progress on numerous fronts: improving fiscal relations across levels of government; further reform of network industries; more efficient use of water; improving workforce skills; and increasing labour market participation by lone parents, second earners, disability beneficiaries and those aged over 55.
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31-Jul-2006
Sometimes referred to as the “lucky” country, Australia has been riding the global boom in commodities, benefiting increasingly from its proximity to Asia. But Australia “has also made its own luck” through a series of structural reforms and the introduction of a robust macroeconomic framework which have bolstered resilience. This is illustrated by its macroeconomic stability in the face of a string of recent shocks, in stark contrast to the macroeconomic chaos which followed the commodities boom of the early 1970s.
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20-Jul-2006
Japan has finally emerged from an extended period of economic stagnation following the collapse of the asset price bubble in the early 1990s. However, Japan needs to implement monetary and fiscal policies appropriate to its unique macroeconomic situation while advancing on a wide range of economic reforms necessary to sustain growth.
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20-Jul-2006
The economic expansion, which began in 2002, has enabled Japan to finally overcome the negative legacy of the collapse of the asset price bubble in the early 1990s. The upturn is projected to continue through 2007, underpinned by improving labour market conditions and accelerating exports, with inflation positive. However, as Japan emerges from a decade of economic stagnation, it faces a new set of challenges to sustain robust growth over the medium term in the context of rapid population ageing.
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05-Jul-2006
Economic growth is likely to be lower in the long term than in recent decades. Fiscal consolidation and pension reform are needed to put public finances on a sustainable path. Reforms to increase labour utilisation and upgrade skills are also needed.
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28-Jun-2006
Poland’s growth performance since 2004 suggests that the process of catch-up with higher-income countries has been renewed. But an improved balance of macroeconomic policies and further efforts to improve structural policies are needed to sustain and accelerate convergence.
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