The Mashreq region and, in particular, the countries of Iraq, Jordan, and Lebanon are facing major policy and fiscal challenges to growth and job creation. The Maximizing Finance for Development (MFD) approach aims to optimize the relationship between the public and the private sector.It would achieve...
This paper analyzes the evolution of sovereign credit ratings in the wake of the global financial crisis by studying changes in actual, shadow, and relative ratings between 2008 and 2012. For countries that do not have a rating from the major rating agencies, shadow ratings are estimated as a function...