The only comprehensive database on international exchange operations and the global trade system 2016 Annual Report on Exchange Arrangements and Exchange Restrictions This is the 67th issue of the AREAER, which provides comprehensive descriptions of the foreign exchange arrangements, exchange and trade systems, and capital controls of all IMF member countries. It describes each country's market operations, international trade policies, controls on capital transactions, and financial sector measures. AREAERs from 1988 on are available on IMF eLibrary, and cumulative data from each annual report dating back to 1999 are available in a single online database, AREAER Online. The 2016 AREAER includes an overview and key summary tables with 192 individual country chapters.

The yearbook presents annual data covering 12 years for countries appearing in the monthly issues of IFS. There are some additional time series in country tables and some additional tables of area and world aggregates. The International Financial Statistics Country Notes presents, in two sections, brief information on the data published in International Financial Statistics. Country Notes is designed to be a companion volume to IFS: the monthly print edition, the Yearbook, the CD-ROM, and the Internet version.

The IMF's Balance of Payments Statistics contains more than 425,000 data series including aggregate and detailed information for about 200 countries and reporting entities. BOP delivers data on international economic transactions including total goods, services, factor income, current and capital transfers, and changes in an economy's external financial claims and liabilities. The Balance of Payments Statistics (BOPS) Yearbook, usually published in December, provides tables of data, featuring regional and world totals of balance of payments and IIP components and aggregates as well as detailed information in the form of analytical and standard component presentations for economies. It is compiled in accordance with the IMF's Balance of Payments Manual

The Balance of Payments Statistics Yearbook, usually published in December, contains balance of payments statistics for most of the world, compiled in accordance with the IMF's Balance of Payments Manual. Part 1 includes aggregate as well as detailed information in the form of analytical and standard component presentations for countries. Part 2 provides tables of data, featuring area and world totals of balance of payments components and aggregates. Part 3 presents descriptions of methodologies, compilation practices, and data sources used by individual member countries in compiling their balance of payments and international investment position statistics.

The Global Monitoring Report 2014/2015 will, for the first time, monitor and report on the World Bank Group s (WBG) twin goals of ending extreme poverty by 2030 and boosting shared prosperity, while continuing to track progress toward the Millennium Development Goals (MDGs). This Global Monitoring Report examines how a select set of policies in the areas of human capital and the environment can create jobs and make development more inclusive and sustainable, while highlighting how social assistance policies can help end poverty and improve growth prospects. It discusses most of these issues across a full spectrum of countries. This means the Report not only addresses low- and middle-income countries but also, for the first time, includes a discussion of high-income countries as well. The Report will contain quantitative information about the WBG twin goals: It will provide an assessment on how far the world has to go to end extreme poverty by 2030 and how much of prosperity has been shared with the bottom 40 percent of a country s population. The report is prepared in collaboration with the International Monetary Fund (IMF) and the Organization for Economic Co-operation and Development (OECD)."

The October 2012 Global Financial Stability Report (GFSR) finds increased risks to the global financial system, with the euro area crisis the principal source of concern. The report urges policymakers to act now to restore confidence, reverse capital flight, and reintegrate the euro zone. In both Japan and the United States, steps are needed toward medium-term fiscal adjustment. Emerging market economies have successfully navigated global shocks thus far, but need to guard against future shocks while managing a slowdown in growth. This GFSR also examines whether regulatory reforms are moving the financial system in the right direction, and finds that progress has been limited, partly because many reforms are in the early stages of implementation and partly because crisis intervention methods are still in use in a number of economies, delaying the movement of the financial system onto a safer path. The final chapter assesses whether certain aspects of financial structure enhance economic outcomes. Indeed, some structural features are associated with better outcomes. In particular, financial buffers made up of high-quality capital and truly liquid assets tend to be associated with better economic performance

The Government Finance Statistics Yearbook delivers statistical data on government financial operations for 133 IMF member countries in one definitive volume. Detailed annual data are presented on revenue, expense, net acquisition of nonfinancial assets, financing transactions, other economic flows as well as, balance sheet information; budgetary operations, extra- budgetary operations, social security, and consolidated financial operations of central governments; state governments, local governments, and the consolidated general government when available. All data conform to standards set forth in the Government Finance Statistics Manual 2001, and are comparable from country to country. Institutional tables list information on government units. A section of the Government Finance Statistics Yearbook is devoted to a cross-country comparison of data.

The April 2012 Global Financial Stability Report assesses changes in risks to financial stability over the past six months, focusing on sovereign vulnerabilities, risks stemming from private sector deleveraging, and assessing the continued resilience of emerging markets. The report probes the implications of recent reforms in the financial system for market perception of safe assets, and investigates the growing public and private costs of increased longevity risk from aging populations.

Detailed annual data for Fund member governments are supplied on revenue income by source (tax, lending, bonds, etc.), and expenditure by sector (defense, education, health, etc.) for all levels of government (national, state, local). Topics covered include deficit/surplus or total financing, revenues or grants, expenditures, lending minus repayments, domestic financing, foreign financing, domestic debt or total debt, and foreign debt. The Yearbook provides data on budgetary operations, extra-budgetary operations, social security, and consolidated financial operations of central governments. A section of the Government Finance Statistics Yearbook is devoted to a cross-country comparison of data

The COVID-19 pandemic has caused dramatic loss of human life and major damage to the European economy, but thanks to an exceptionally strong policy response, potentially devastating outcomes have been avoided

The demand for high quality detailed public finance statistics covering a globally representative sample of countries has increased dramatically during the recent financial crisis. Due to the complexity of public finance statistics, however, such data tend to be either available in oversimplified high level aggregates and lacking in methodological transparency, or, available with a great level of detail and a unified methodological approach yet overly complicated to understand. The IMF's Government Finance Statistics Yearbook shows fiscal data of around 140 countries following the Government Finance Statistics Manual 2001 framework. The associated database includes data series covering over an almost 40 year period. The IMF's Statistics Department embarked on several initiatives to improve its accessibility

The economic recovery in sub-Saharan Africa surprised on the upside in the second half of 2021, prompting a significant upward revision in last year's estimated growth. This year, however, that progress has been jeopardized. The Russian invasion of Ukraine has triggered a global economic shock that is hitting the region at a time when countries' policy space to respond to it is minimal to nonexistent. Most notably, surging oil and food prices are straining the external and fiscal balances of commodity-importing countries and have increased food security concerns in many countries. Moreover, the shock threatens to compound some of the region's most pressing policy challenges, including the COVID-19 pandemic's social and economic legacy, climate change, heightened security risks in the Sahel, and the ongoing tightening of monetary policy in the United States.

An economic recovery is underway in Latin America and the Caribbean (LAC) but the pandemic still casts shadows on much of the region. The recovery was robust in the first quarter of 2021 but lost momentum in some countries in the second quarter, reflecting the rebound in COVID-19 cases. Real GDP is projected to grow by 6.3 percent in 2021, followed by a more moderate growth of 3 percent in 2022, but would not catch up with pre-pandemic trends in the medium term as persistent weakness in labor markets raises risks of scarring. Broadly favorable external conditions, high commodity prices, and pent-up demand support short-term growth, while monetary and fiscal policy reversals work in the other direction. Risks to the outlook are tilted downward. Main downside risks are the emergence of more transmissible and deadlier COVID-19 variants, tightening of global financial conditions, sovereign debt rollover risks, and social unrest as a year with heavy election schedule looms. Fiscal policy should allocate sufficient resources for health spending, including vaccination, and continue to support households and firms in a more targeted fashion while the pandemic persists, backed by credible assurances of medium-term debt sustainability to maintain access to finance. Monetary policy has started to address inflationary pressures but should continue to support economic activity insofar as the dynamics of inflation expectations permit. If rising inflation threatens to de-anchor inflation expectations, central banks should tighten monetary policy to signal a commitment to inflation targets and avoid persistent increases in inflation. Preemptive and decisive action should be accompanied with clear and transparent communication. Financial policy should shift from blanket support to targeted support of viable firms, to ensure that necessary labor and capital reallocations are not hindered. Supply-side policies should foster inclusive growth, including through progressive and growth-friendly tax reforms and measures to intensify climate change adaptation and mitigation.

The pandemic continues to spread in Latin America and the Caribbean (LAC), but economic activity is picking up. After a deep contraction in April, activity started recovering in May, as lockdowns were gradually eased, consumers and firms adapted to social distancing, some countries introduced sizable policy support, and global activity strengthened.

An economic recovery is underway in Latin America and the Caribbean (LAC) but the pandemic still casts shadows on much of the region. The recovery was robust in the first quarter of 2021 but lost momentum in some countries in the second quarter, reflecting the rebound in COVID-19 cases. Real GDP is projected to grow by 6.3 percent in 2021, followed by a more moderate growth of 3 percent in 2022, but would not catch up with pre-pandemic trends in the medium term as persistent weakness in labor markets raises risks of scarring. Broadly favorable external conditions, high commodity prices, and pent-up demand support short-term growth, while monetary and fiscal policy reversals work in the other direction. Risks to the outlook are tilted downward. Main downside risks are the emergence of more transmissible and deadlier COVID-19 variants, tightening of global financial conditions, sovereign debt rollover risks, and social unrest as a year with heavy election schedule looms. Fiscal policy should allocate sufficient resources for health spending, including vaccination, and continue to support households and firms in a more targeted fashion while the pandemic persists, backed by credible assurances of medium-term debt sustainability to maintain access to finance. Monetary policy has started to address inflationary pressures but should continue to support economic activity insofar as the dynamics of inflation expectations permit. If rising inflation threatens to de-anchor inflation expectations, central banks should tighten monetary policy to signal a commitment to inflation targets and avoid persistent increases in inflation. Preemptive and decisive action should be accompanied with clear and transparent communication. Financial policy should shift from blanket support to targeted support of viable firms, to ensure that necessary labor and capital reallocations are not hindered. Supply-side policies should foster inclusive growth, including through progressive and growth-friendly tax reforms and measures to intensify climate change adaptation and mitigation.

Global current account balances-the overall size of current account deficits and surpluses-continued to widen in 2021 to 3.5 percent of world GDP, and are expected to widen again this year. The IMF's multilateral approach suggests that global excess balances narrowed to 0.9 percent of world GDP in 2021 compared with 1.2 percent of world GDP in 2020. The pandemic has continued to affect economies' current account balances unevenly through the travel and transportation sectors as well as a shift from services to goods consumption. Commodity prices recovered from the COVID-19 shock and started rising in 2021 with opposite effects on the external position of exporters and importers, a trend that the war in Ukraine is exacerbating in 2022. The medium-term outlook for global current account balances is a gradual narrowing as the impact of the pandemic fades away, commodity prices normalize, and fiscal consolidation in current account deficit economies progresses. However, this outlook is highly uncertain and subject to several risks. Policies to promote external rebalancing differ with positions and needs of individual economies.

The global economy is climbing out from the depths to which it had plummeted during the Great Lockdown in April. But with the COVID-19 pandemic continuing to spread, many countries have slowed reopening and some are reinstating partial lockdowns to protect susceptible populations. While recovery in China has been faster than expected, the global economy's long ascent back to pre-pandemic levels of activity remains prone to setbacks.

CCA countries achieved gains in inclusiveness over the past 20 years as incomes increased and poverty, inequality, and unemployment declined. Most of the progress occurred before the 2008-09 global financial crisis. Since then, poverty rates have barely moved and, for oil importers, remain elevated.

Pacific island economies depend heavily on remittances - more than many other regions in the world. For example, remittances account for 27 and 21 percent of GDP for Tonga and Samoa, respectively. Reliance on foreign exchange inflows makes access to low-cost financial services and correspondent banking for cross-border flows critical for these economies. Australia, New Zealand, and the United States each account for approximately one-third of the remittances to the region

This annual publication, International Financial Statistics Yearbook, contains detailed statistics on all aspects of international and domestic finance. The Yearbook contains available annual data covering 12 years for countries appearing in the monthly issues of International Financial Statistics (IFS). Additional time series in country tables and some additional tables of area and world aggregates are included in the Yearbook.

The global upswing in economic activity is strengthening. Global growth, which in 2016 was the weakest since the global financial crisis at 3.2 percent, is projected to rise to 3.6 percent in 2017 and to 3.7 percent in 2018. The growth forecasts for both 2017 and 2018 are 0.1 percentage point stronger compared with projections earlier this year. Broad-based upward revisions in the euro area, Japan, emerging Asia, emerging Europe, and Russia - where growth outcomes in the first half of 2017 were better than expected - more than offset downward revisions for the United States and the United Kingdom. But the recovery is not complete: while the baseline outlook is strengthening, growth remains weak in many countries, and inflation is below target in most advanced economies.

The upswing in global investment and trade continued in the second half of 2017. At 3.8 percent, global growth in 2017 was the fastest since 2011. With financial conditions still supportive, global growth is expected to tick up to a 3.9 percent rate in both 2018 and 2019. Advanced economies will grow faster than potential this year and next; euro area economies are set to narrow excess capacity with support from accommodative monetary policy, and expansionary fiscal policy will drive the US economy above full employment. Aggregate growth in emerging market and developing economies is projected to firm further, with continued strong growth in emerging Asia and Europe and a modest upswing in commodity exporters after three years of weak performance. Global growth, however, is projected to soften beyond the next couple of years, with most advanced economies likely returning to potential growth rates well below precrisis averages. Growth is projected to remain subpar in several emerging market and developing economies, including in some commodity exporters that continue to face substantial fiscal consolidation needs. Beyond the next few quarters risks clearly lean to the downside. The current recovery offers a window of opportunity to advance policies and reforms that secure the current upswing and raise medium-term growth to the benefit of all.

This annual publication, International Financial Statistics Yearbook, contains detailed statistics on all aspects of international and domestic finance. "The IFS Yearbook contains available annual data covering 12 years for countries appearing in the monthly issues of "International Financial Statistics" (IFS). Additional time series in country tables and some additional tables of area and world aggregates are included in the Yearbook. "The IFS Country Notes" presents, in two sections, brief information on the IFS data. "Country Notes" is designed to be a companion volume to each version of IFS: the monthly print edition, the Yearbook, the CD-ROM, and the online service. The complete set of updated "Country Notes" is accessible from the IFS Online service Internet site, and appears on the CD-ROM edition of "IFS." These notes are updated on a monthly basis.