Publications and media
Philippines – Preserving economic stability, financing development and anticipating climate issues
Referred to as the “sick man of Asia” during the last third of the 20th century, the Philippines has recorded dynamic economic growth since the mid-2000s and is beginning to catch up with the more adv...
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MacroDev - Semestrial Panorama 2024 #1
Three decades ago, it was believed that the end of the (first) Cold War would herald the “end of history” and the advent of economic globalization dominated by multinational companies, relegating gove...
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Vietnam at a crossroads: avoiding the middle-income trap while addressing climate challenges
Following three decades of strong growth (7% on average) which enabled the country to eradicate extreme poverty and reach middle-income status, Vietnam continues to offer highly attractive prospects....
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Peru: in need of fresh stimulus
Driven by the boom in its mining sector and its rigorous macroeconomic policies, since the early 2000s Peru has experienced a period of spectacular development, described as the “Peruvian Miracle”. No...
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Climate-financial trap: an empirical approach to detecting situations of double vulnerability
The present study proposes to build a systematic approach to detecting and specifying situations of double vulnerability. Double vulnerability refers to a situation where a country combines climate an...
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Serbia: European integration, energy, war in Ukraine
The path of economic growth and development of Serbia, a country with a modern, diversified and outward-looking economy, depends at the same time on the fundamental reforms of its energy model, develo...
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MacroDev - Semestrial Panorama 2023 #2
Since the last edition of our publication MacroDev Semestrial in February 2023, international economic developments have remained eventful and intense, against the backdrop of the continued global geo...
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MacroDev - Semestrial Panorama 2023 #1
The dual shock of the health crisis and the war in Ukraine has pushed up inflation to an extent not seen in developed countries since the 1979 oil shock and the Iran-Iraq war. This shock has put an en...
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Uzbekistan: Achieving a multidimensional transition
Relatively sound macroeconomic fundamentals, coupled with government measures and financial support from donors, have allowed Uzbekistan to withstand the shock of the health crisis. Despite a marked d...
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Development finance fragmentation and diversification: the case of China, India and Türkiye
From 2010 to 2019, the international community committed USD 1,700 billion in loans for developing countries. While multila-teral development banks continued to provide the bulk of financings (60% of...
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Semestrial Panorama 2022 #2
The rise in commodity prices had already been happening since mid-2020 and is subject to an in-depth analysis in this third issue of the semi-annual MacroDev Panorama. The objective is to place the dr...
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Angola: a vital but constrained transformation of the economic model in the run-up to the 2022 elections?
The country is therefore approaching the general elections of August 24, 2022 in a changing economic and political environment. Lourenço, who is running for president, will be able to claim that the e...
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Kosovo: The Challenges of Building the Growth Model
A small country in the Western Balkans, Kosovo unilaterally declared its independence from Serbia in 2008. It has since strengthened its independence and built its sovereignty, resulting in a gradual...
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North Macedonia: Identifying a development model for the future
North Macedonia is a small, landlocked country in the Balkans that gained independence in 1991 and has a turbulent history bound up with its pursuit of regional and international recognition. The coun...
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Rendemic uncertainties in developing countries: Issues arising from an increased interdependence between banks...
An increased recourse to financing from the domestic banking sector has proved to be an important source of resilience for many developing countries in their efforts to face expenditures generated by...
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Hard Times for Developing Countries: Africa’s Financing Needs in Question
Semestrial Panoramas are special issues of the MacroDev series written by AFD analysts; They present a synthesis of macronomic et socioeconomic analyses of emerging and developing countries. In additi...
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Uganda: revising the growth model while preserving debt sustainability
After two decades (1990–2010) of strong growth and structural transformation, Uganda’s economy is still confronted with a high level of informality and a concentration of jobs in agricul-ture—a sector...
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Debt sustainability in Africa: state of play and future challenges
Almost fifteen years after the last debt relief initiatives were implemented by the international community, some African countries have either recently defaulted on their public debt, subscribed to t...
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Rwanda: an effective development model, rising to the challenge of its sustainability
Rwanda emerged from the 1994 genocide in a considerably weakened state. The country's strongman, Paul Kagame, came to power during this period of instability and gradual reconstruction. He became Pres...
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Twenty years of official dollarization in Ecuador: a blessing or a curse?
Ecuador adopted the U.S. dollar as its legal tender in January 2000, in a context of deep economic and political crisis. Almost two decades later in December 2019, the Executive Board of the Internati...
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Zambia: Resource-rich but vulnerable to shocks
Zambia, located in the north of Southern Africa and home to fewer than 18 million people, has built its development model on the abundance of natural, mainly mineral, resources. The country ranks as A...
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