IMF's Western Hemisphere Department, concluded in a recent paper that a continuation of current policies would endanger the Caribbean's macroeconomic stability.

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"The deficit will be reduced by the cyclical expansion that is now under way, which will absorb spare capacity in the economy, " Charles Collyns, deputy director of the IMF's Western Hemisphere Department, told reporters.

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And President Bush finally has a good team settling into place for doing what needs to be done in the American hemisphere (Maisto notwithstanding), with his able policy shop at the Department of Defense, and his beefed-up State Department with newly installed Assistant Secretary of State for Western Hemisphere Affairs, Ambassador Otto Reich .

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