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Inflation targeting (IT) is a relatively new monetary policy framework for low-income countries (LICs). The limited number of LICs with an IT framework and the short time that has elapsed since the adoption of this framework explains why there are no previous empirical studies on the performance of IT in LICs. This paper has made a first attempt at filling this gap. It finds that inflation targeting appears to be associated with lower inflation and inflation volatility. At the same time, there is no robust evidence of an adverse impact on output. This may explain the appeal of IT for many LICs, where building credibility of monetary policy is difficult and minimizing output costs of reducing inflation is imperative for social and political reasons.

Inflation targeting --- Targeting, Inflation --- Monetary policy --- Econometric models. --- Finance: General --- Inflation --- Money and Monetary Policy --- Price Level --- Deflation --- Monetary Policy --- Central Banks and Their Policies --- General Financial Markets: General (includes Measurement and Data) --- Monetary economics --- Macroeconomics --- Finance --- Emerging and frontier financial markets --- Monetary transmission mechanism --- Monetary policy frameworks --- Prices --- Financial markets --- Financial services industry --- Ghana

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The COVID-19 pandemic hit countries’ development agendas hard. The ensuing recession has pushed millions into extreme poverty and has shrunk government resources available for spending on achieving the United Nations Sustainable Development Goals (SDGs). This Staff Discussion Note assesses the current state of play on funding SDGs in five key development areas: education, health, roads, electricity, and water and sanitation, using a newly developed dynamic macroeconomic framework.

Macroeconomics --- Economics: General --- Sustainable Development --- Diseases: Contagious --- Labor --- Finance: General --- Infrastructure --- Foreign Exchange --- Informal Economy --- Underground Econom --- Health Behavior --- Human Capital --- Skills --- Occupational Choice --- Labor Productivity --- General Financial Markets: General (includes Measurement and Data) --- Investment --- Capital --- Intangible Capital --- Capacity --- Economic & financial crises & disasters --- Economics of specific sectors --- Development economics & emerging economies --- Infectious & contagious diseases --- Labour --- income economics --- Finance --- Financial crises --- Economic sectors --- Sustainable Development Goals (SDG) --- Development --- COVID-19 --- Health --- Human capital --- Emerging and frontier financial markets --- Financial markets --- National accounts --- Currency crises --- Informal sector --- Economics --- Sustainable development --- Communicable diseases --- Financial services industry --- Saving and investment --- Iceland

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The Caucasus and Central Asia (CCA) countries are at an important juncture in their economic transition. Following significant economic progress during the 2000s, recent external shocks have revealed the underlying vulnerabilities of the current growth model. Lower commodity prices, weaker remittances, and slower growth in key trading partners reduced CCA growth, weakened external and fiscal balances, and raised public debt. the financial sector was also hit hard by large foreign exchange losses. while commodity prices have recovered somewhat since late 2014, to boost its economic potential, the region needs to find new growth drivers, diversify away from natural resources, remittances, and public spending, and generate much stronger private sector-led activity.

International Economic Integration --- Asia, Central --- Caucasus --- Political Science --- Business & Economics --- History --- INTERNATIONAL ECONOMIC INTEGRATION --- ASIA, CENTRAL --- CAUCASUS --- POLITICAL SCIENCE --- BUSINESS & ECONOMICS --- HISTORY --- International economic integration --- Asia, central --- Political science --- Business & economics --- Banking --- Banks and Banking --- Banks and banking --- Banks --- Currency --- Debt Management --- Debt --- Debts, Public --- Depository Institutions --- Economic Integration --- Economic integration --- Exports and Imports --- Foreign Exchange --- Foreign exchange --- Globalization --- Globalization: General --- Inflation targeting --- International economics --- Micro Finance Institutions --- Monetary economics --- Monetary Policy --- Monetary policy --- Money and Monetary Policy --- Mortgages --- Public debt --- Public finance & taxation --- Public Finance --- Sovereign Debt --- Kyrgyz Republic