Download or read book Brunei Darussalam 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for Brunei Darussalam written by International Monetary and published by International Monetary Fund. This book was released on 2021-09-20 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brunei’s economic performance—which was strong before the COVID-19 pandemic—has been buffeted by the health crisis and a pandemic-induced oil and gas price shock. The authorities responded fast and decisively. The number of new infections was quickly suppressed, thanks to a swift public health response, effective health measures and non-pharmaceutical interventions. Strong fiscal and regulatory policy responses helped sustain production and household income and consumption. Past diversification efforts and reforms bore fruit when it was most needed. As a result, the economy performed strongly in 2020, with real GDP posting positive growth of 1.1 percent—a rare outcome amidst negative growth in the region. Economic activity is projected to strengthen in 2021-22, albeit at varying speeds across sectors, and to continue improving over the medium term on the back of further diversification. The outlook is, however, subject to unusual uncertainty, with significant risks skewed to the downside. Sustained strong policy actions are needed to ensure continued resilience, while nurturing green, digital and inclusive growth.
Download or read book Brunei Darussalam written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2023-10-06 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Context and Recent Developments. Brunei’s high vaccination rates have allowed for the removal of COVID-19 restrictions and reopening of borders; however, reduced oil and gas (O&G) production have undermined the recovery. The financial sector remains liquid and well-capitalized. High fuel prices helped strengthen the fiscal and external positions in 2022. Inflation hit a historical high but has recently declined. The 2023 Article IV consultation took place in the context of a volatile O&G market, and a difficult external environment. Key policy challenges include the narrowing fiscal space, the need to shield the economy against O&G price and output volatility, global decarbonization pressures, and ensuring inter-generational equity. The government is committed to diversifying towards a low-carbon economy.
Download or read book Brunei Darussalam written by International Monetary and published by International Monetary Fund. This book was released on 2022-09-16 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: After successfully weathering the pandemic in 2020, Brunei was hit by new waves of COVID-19, with case numbers going up significantly and new lockdown measures imposed in H2 2021. Reduced activities in mining and LNG manufacturing, combined with the negative impact of new pandemic variants on domestic services, led to a slowdown in the economy. Real GDP contracted by 1.6 percent in 2021. For 2022, growth is projected to rebound to 1.2 percent, on the back of easing of mobility constraints and a positive terms of trade shock due to surges in O&G prices. Inflation, while remaining relatively low at 2.2 percent at end 2021, has increased in 2022 and pressures are expected to remain elevated in the short term, owing to supply disruptions and higher food and fuel prices. The economy continues to diversify, with double-digit growth of the food/agriculture sector and a new fertilizer sector commencing production. The risks to the outlook are tilted to the downside, due to potential new COVID-19 variants, increased global uncertainty associated with an escalation of the war in Ukraine, monetary tightening from the US and a larger-than-expected growth slowdown in China. On the upside, higher energy prices would further improve the terms of trade and restore fiscal positions in the short term, while partially contributing to build the buffers needed to ensure stronger intergenerational equity. Strong policy actions are needed to boost medium-term growth and foster resilience.
Download or read book Times of Uncertainty written by Detlef Briesen and published by Nomos Verlag. This book was released on 2021-12-22 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: Die COVID-19-Pandemie hat die Welt in unterschiedlichem Maße betroffen. Außerdem haben verschiedene Regionen der Welt versucht, die Krankheit auf unterschiedliche Weise zu bekämpfen. Seit dem Beginn der Pandemie in Wuhan, China, blickt die Welt vor allem nach Süd- und Südostasien, wo 2020 zunächst große Erfolge erzielt wurden. Im Jahr 2021 hat sich die Situation dort jedoch dramatisch verschlechtert. Das Buch sucht nach Erklärungen dafür und versucht zu zeigen, wie sich die unterschiedlichen Erfolge bei der Bekämpfung der Pandemie auf die internationalen Beziehungen und die innere Stabilität der betroffenen Länder ausgewirkt haben.
Download or read book Routledge Handbook of Contemporary Brunei written by Ooi Keat Gin and published by Taylor & Francis. This book was released on 2022-07-29 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Routledge Handbook of Contemporary Brunei presents an overview of significant themes, issues, and challenges pertinent to Brunei Darussalam in the twenty-first century. Multidisciplinary in coverage, the contributions cover topics relating to philology, history, religion, language and literature, geography, international relations, economics, politics and sociocultural traditions. The Handbook is structured in eight parts: Foundations History Faith and Ethnicity Literature Language and Education Economics Material Culture Empowerment Chapters focus on the recent past and contemporary developments in this unique country which has remained a Malay Muslim sultanate, sustaining its religious and traditional heritage encapsulated in the national philosophy, Melayu Islam Beraja (MIB, Malay Islamic Monarchy). The MIB philosophy represents the sultanate’s three pillars of social, cultural, political and economic sustainability, and the contributors discuss this concept in relation to the notion of ‘Malay’ or ‘Malaydom’, the official religion of the nation-state, Islam and monarchy as the essential system of government. This Handbook is an invaluable reference work for students of Asian and Southeast Asian Studies and researchers interested in what is demographically the smallest country within the Association of Southeast Asian Nations (ASEAN).
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 Republic of Nauru 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for the Republic of Nauru written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-07 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Early and decisive measures successfully prevented an outbreak of COVID-19 in Nauru, and as of January 2022 there have been no COVID-19 cases on the island. Strong pandemic policy measures supported the economy, which continued to expand in FY20 and FY21. Nauru’s remoteness and size constrain potential growth and it is severely exposed to the negative effects of climate change on sea levels and the ocean stock of tuna. Development challenges are exacerbated by limited capacity and a high incidence of non-communicable diseases (NCDs).
Download or read book Belize 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for Belize written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-07 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: Belize has been hit hard by the COVID-19 pandemic, which led to a deep recession and worsened fiscal and external positions from already weak levels. The opposition People’s United Party won the November 2020 elections by a wide margin, which gives the new government a unique opportunity to jump start much needed reforms to reduce large imbalances and anchor strong and inclusive growth.
Download or read book Thailand 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for Thailand written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-03 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: A nascent recovery is underway in Thailand following the COVID-19 downturn. Ample policy buffers, underpinned by judicious management of public finances, allowed the authorities to implement a multipronged package of fiscal, monetary, and financial policies to mitigate the COVID-19 impact on households, businesses, and the financial system. This, together with rigorous containment measures, led to a successful flattening of the infection curve during most of 2020. Nevertheless, the pandemic has taken a large toll on the economy, potentially inducing long-term scarring and increasing inequality.
Download or read book Federated States of Micronesia 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for the Federated States of Micronesia written by International Monetary and published by International Monetary Fund. This book was released on 2021-11 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic and related containment measures have put severe strains on the economy. The economic policy response has been strong and generally appropriate, helping counter the negative effects of the pandemic. Nevertheless, as the international borders remain shut, the economic contraction is likely to deepen in FY2021. A slow recovery is expected for FY2022 driven by a gradual border reopening. The FSM is facing significant medium-term uncertainty, owing to the possible expiration of grants and other assistance provided under the Compact Agreement with the United States. The FSM is also highly vulnerable to climate change-induced natural disasters.
Download or read book Trinidad and Tobago 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for Trinidad and Tobago written by International Monetary and published by International Monetary Fund. This book was released on 2022-03-10 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trinidad and Tobago faced unprecedented challenges in 2020–21. The combined effects of COVID-19 and energy production and price shocks pushed the economy further into recession. A decisive policy response helped contain the virus spread and protect lives and livelihoods. The fiscal position worsened due to significant tax revenues shortfalls, pushing public debt up. The vaccination pace accelerated recently, but vaccine hesitancy remains high, amid a potential new wave of infections.
Download or read book Malaysia written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2021-03-17 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: Malaysia entered the pandemic from a robust economic position but has nonetheless been significantly affected. A synchronous fiscal, monetary and financial policy response has helped cushion the economic impact. As a result, after a deep recession in 2020, and assuming the pandemic is brought under control in Malaysia and globally, growth would rebound to 6.5 percent in 2021 as supply side constraints are lifted and domestic and external demand recover. Large downside risks will remain.
Download or read book Republic of Nauru 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 Mauritius 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 Republic of Palau 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for the Republic of Palau written by International Monetary and published by International Monetary Fund. This book was released on 2021-12-09 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic and related containment measures have severely impacted the economy. Border closure and the suspension of commercial flights curtailed tourist arrivals. Real GDP contracted by 9.7 percent in FY2020, notwithstanding policy support. The economic contraction is estimated to have deepened in FY2021, and a gradual recovery is expected in FY2022 as tourism activities resume. While Palau’s public debt remains sustainable, the economic fallout of the pandemic and the cost of the fiscal response have led to a sharp deterioration of the fiscal position and a rapid increase in public debt. The high share of concessional loans from multilateral creditors in Palau’s external debt is an important risk mitigating factor. Palau is vulnerable to climate change and natural disasters.
Download or read book Brunei Darussalam written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2019-10-10 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation highlights that Brunei’s economy has been adjusting to declining oil production since 2010 and lower oil and gas (O&G) prices since 2014, with the authorities undertaking wide-ranging reforms. Growth is expected to pick up in 2019 to 1.8 percent, with the outlook improving further over the medium term, driven by stronger O&G activities from asset rejuvenation and large foreign direct investment projects. The authorities have made substantial progress in fiscal consolidation, improving the business climate, and developing the financial sector. The fiscal consolidation initiatives include corporatization and privatization, public-private partnership, evaluation of subsidies against targets, fiscal management enhancement, revenue diversification, and amalgamation of the government’s asset management system. The IMF staff supports the authorities’ initiatives to develop the financial sector, while safeguarding financial stability and integrity. The initiatives include steps to broaden the investor base, establish a secondary bond market, develop the required infrastructure and rules for establishing a stock exchange, and put all the three pillars of Basel II in place.
Download or read book Democratic Republic of Timor Leste written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2024-02-27 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: Timor-Leste has made impressive progress since independence in 2002 but remains a fragile post-conflict nation with pressing development needs. With oil and gas production having recently come to a halt, progress on diversifying the economy and developing the private sector is urgently needed. Fiscal deficits are financed by the country’s considerable Petroleum Fund savings, but regular large withdrawals are expected to lead to its full depletion by the end of the 2030s. A new coalition government—formed following parliamentary elections in May 2023—targets higher growth and achieving fiscal sustainability.
