Download or read book Angola written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2014-09-05 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: KEY ISSUES Context and outlook: Angola’s recent economic developments have been positive, but softening oil revenue and limited proven oil reserves highlight the need to contain emerging fiscal deficits, preserve policy buffers, and continue diversifying the economy. Focus of consultation: Discussions focused on mitigating the main risks to the macroeconomic framework and, inter alia, policies to return to structural fiscal surpluses over the medium term, and to support economic diversification and inclusive growth, the modernization of the monetary policy framework, and financial stability. Key policy recommendations: • Return to structural fiscal surpluses in line with the objective set forth in Angola’s Sovereign Wealth Fund, by mobilizing additional nonoil tax revenue, improving the efficiency of public investment, and reducing current spending, including by phasing out the costly and regressive fuel subsidies—while mitigating the impact on the poor through well-targeted social assistance. • Adopt an improved medium-term fiscal framework, focusing on the structural fiscal balance to limit the impact of the oil sector on the nonoil economy. • Develop a coherent asset-liability management framework, including a well-designed stabilization fund to shield the budget from oil revenue fluctuations. • Further improve public financial management systems to avoid, inter alia, a recurrence in the future of domestic payments arrears. • Continue improving the business climate to boost economic development, diversification, and competitiveness. • In transitioning over the medium-term toward an inflation targeting regime, enhance the central bank’s capacity to collect and analyze high-frequency economic data, and continue de-dollarizing the economy. • Further strengthen the financial system, by continuing to improve the transparency and accountability of banks, and enhancing bank supervision. • Manage public guarantees transparently and with a view to minimize fiscal costs, as envisaged in the recently-approved law on public guarantees.
Download or read book Angola written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2014-09-05 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: KEY ISSUES Context and outlook: Angola’s recent economic developments have been positive, but softening oil revenue and limited proven oil reserves highlight the need to contain emerging fiscal deficits, preserve policy buffers, and continue diversifying the economy. Focus of consultation: Discussions focused on mitigating the main risks to the macroeconomic framework and, inter alia, policies to return to structural fiscal surpluses over the medium term, and to support economic diversification and inclusive growth, the modernization of the monetary policy framework, and financial stability. Key policy recommendations: • Return to structural fiscal surpluses in line with the objective set forth in Angola’s Sovereign Wealth Fund, by mobilizing additional nonoil tax revenue, improving the efficiency of public investment, and reducing current spending, including by phasing out the costly and regressive fuel subsidies—while mitigating the impact on the poor through well-targeted social assistance. • Adopt an improved medium-term fiscal framework, focusing on the structural fiscal balance to limit the impact of the oil sector on the nonoil economy. • Develop a coherent asset-liability management framework, including a well-designed stabilization fund to shield the budget from oil revenue fluctuations. • Further improve public financial management systems to avoid, inter alia, a recurrence in the future of domestic payments arrears. • Continue improving the business climate to boost economic development, diversification, and competitiveness. • In transitioning over the medium-term toward an inflation targeting regime, enhance the central bank’s capacity to collect and analyze high-frequency economic data, and continue de-dollarizing the economy. • Further strengthen the financial system, by continuing to improve the transparency and accountability of banks, and enhancing bank supervision. • Manage public guarantees transparently and with a view to minimize fiscal costs, as envisaged in the recently-approved law on public guarantees.
Download or read book Angola written by International Monetary Fund. and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Angola written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2018-06-11 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2018 Article IV Consultation highlights that lower oil prices since mid-2014 have placed the Angolan economy under stress. The authorities initially reacted to the oil price shock with significant fiscal tightening and exchange rate adjustments coupled with foreign exchange quantitative restrictions. The policy mix in the run-up to the August 2017 elections—fiscal expansion and pegged exchange rate—led to a further erosion of fiscal and external buffers. President João Lourenço has focused attention on improving governance and restoring macroeconomic stability. The government’s macroeconomic stabilization program envisages: upfront fiscal consolidation; greater exchange rate flexibility; reducing the public debt-to-GDP ratio to 60 percent over the medium term; improving the public debt profile; and settling domestic payments arrears.
Download or read book Angola written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2017-02-06 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2016 Article IV Consultation highlights that the oil price shock that started in mid-2014 has substantially reduced Angola’s fiscal revenue and exports. Growth was estimated to come to a halt in 2016, with the nonoil sector contracting by 0.5 percent, dragged down by the industrial, construction, and services sectors. Industrial production, despite the potential for import substitution, was constrained by shortages of imported inputs owing to limited availability of foreign exchange. The current account deficit, which peaked at 10 percent of GDP in 2015, is projected to be halved in 2016–17, as imports continue adjusting to limited availability of foreign exchange.
Download or read book Angola written by International Monetary Fund and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Angola 2004 Article IV Consultation written by and published by . This book was released on 2005 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Angola 2007 Article IV Consultation written by Robert Corker and published by . This book was released on 2007 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Towards Democratic Development States in Southern Africa written by Godfrey Kanyenze and published by African Books Collective. This book was released on 2016-12-14 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dawn of the twenty-first century heralded an apparent change of fortunes for most sub-Saharan African economies, with annual growth averaging over 5% for fifteen years. However, this was not accompanied by structural transformation: poverty, food insecurity, unemployment and inequality persist. Structural transformation has not been - and indeed cannot be - delivered by market forces and neo-liberal economic policies; it requires a state committed to development, and to achieving it in a democratic way. To what extent do the countries of Southern Africa exhibit the characteristics of such a developmental state? What steps, if any, do they need to take in order to become one? The book answers the questions with respect to South Africa, Botswana, Namibia, Zimbabwe, Angola and Malawi. Godfrey Kanyenze and his colleagues have assembled a distinguished team of writers to take the temperature of the regional political economy, and chart a path for its future development.
Download or read book Angola written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-05-09 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report discusses Angola’s sixth review under the Stand-By Arrangement (SBA) and request for waivers of nonobservance of performance criteria. Three years after the abrupt decline in world oil prices that severely impacted its economy, Angola has reached a sharply improved fiscal position, a more comfortable level of net international reserves, and a stable exchange rate. The authorities have embarked on far-reaching institutional reforms to enhance accountability in public spending and predictability in oil revenue transfers.
Download or read book Angola written by and published by . This book was released on 2005 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Angola written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2023-03-06 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: Angola achieved macroeconomic stabilization amid a very difficult environment in 2020 and growth began to recover in 2021. The recovery picked up pace in 2022, aided by high oil prices. President João Lourenço was reelected in August 2022. Angola continues to face significant challenges, including debt vulnerabilities and the need to diversify the economy as oil production declines over the long term. The authorities’ reform agenda, including their upcoming 2023–27 National Development Plan, is focused on these challenges.
Download or read book Gender Responsive Budgeting in Fragile States written by Monica Costa and published by Routledge. This book was released on 2017-08-16 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: A growing number of governments have made commitments to achieving gender equality and women's rights, with many using gender responsive budgeting (GRB) to allocate resources for the delivery of economic policy and governance that benefit men and women equally. At a time when GRB is growing in global traction, this book investigates what it can deliver for gender equality and state resilience in contexts where the state is weak or prone to violence, such as in Timor-Leste. Gender-Responsive Budgeting in Fragile States: The Case of Timor-Leste uses the Timor-Leste case to investigate whether gender equality reform can be adopted at the same time as establishing economic and institutional fundamentals. While some may have thought that the adoption of GRB strategy in 2008 was premature, Monica Costa argues that GRB initiatives have contributed to budget accountability and transparency, and ultimately improved policy and budget processes and decisions. This multi-disciplinary analysis of a decade of GRB demonstrates why GRB is important to inform the debate on state fragility-resilience and argues that fragile states cannot defer gender equality in the name of getting the economic and institutional basics right. While a growing number of fragile states have taken steps to make their budget more gender responsive, questions remain for economists and policy makers about what can be achieved, and how. Gender Responsive Budgeting in Fragile States is the first international publication on GRB in fragile state contexts and will be of interest to researchers, upper level students, policy makers and NGOs with an interest in policy, economics, gender and development.
Download or read book Gabon written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2016-03-18 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses challenges, outlook, and risks of Gabon’s economy. Gabon’s economy is facing mounting headwinds. Economic activity benefited from a one-off boost in oil production in 2015, due to the introduction of new oil fields and productivity improvements, which are expected to help maintain overall growth about 4 percent in 2015. However, the slowdown in non-oil economy activity continued, led by construction, transport, commerce, and services. The main downside risk to the outlook remains weak fiscal adjustment to sharply lower oil prices. In the event of weaker-than-projected performance on oil revenues or government spending, government would be forced to substantially draw down on its deposit buffer and/or significantly increase borrowing.
Download or read book Malaysia 2022 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for Malaysia written by International Monetary and published by International Monetary Fund. This book was released on 2022-04-28 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: Malaysia’s economy is showing signs of a gradual yet steady recovery thanks to the authorities’ impressive vaccine rollout, swift and coordinated implementation of multi-pronged support measures. The recovery nevertheless remains uneven and the output gap sizeable, with significant downside risks. Going forward, the authorities should calibrate macroeconomic policies to the pace of the recovery, while preserving policy space given pandemic-related uncertainties, and simultaneously accelerate structural reforms.
Download or read book Angola written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Angola Staff Report for the Article IV Consultation written by and published by . This book was released on 2005 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt:
