Download or read book A Thousand Cuts written by Alexandros Kentikelenis and published by Oxford University Press. This book was released on 2023 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The dominant policy response to economic crises over the past four decades has been the introduction of austerity. How has this mix of budget cuts and reforms to downsize the role of the state evolved over time? What affect has it had on social policies and on people's lives? This book examines the activities of the world's leading advocate of austerity: the International Monetary Fund (IMF). This international organization lends to countries facing economic trouble in exchange for the implementation of far-reaching austerity measures. Drawing on new data, the authors reveal that although the precise content of IMF-mandated austerity has changed considerably over time, the organization continues to place a high burden of reform on countries in crisis. These reforms then decrease the availability of important social services, and contribute to rises in income inequality and declines in population health. These findings form the first systematic assessment of how austerity has impacted people's lives and livelihoods around the world. Will such policy mistakes be avoided in the post-pandemic world? The early evidence presented in this book do not raise grounds for optimism. Public expenditure projections reveal that by 2023, 86 out of 189 countries-mostly middle-income ones-will face contractions in government spending compared to their 2010s average, thereby exposing a cumulative total of 2.3 billion people to the socio-economic consequences of budget cuts"--
Download or read book Nicaragua Fourth Review Under the Three Year Arrangement Under the Poverty Reduction and Growth Facility Request for Waivers of Performance Criteria and Financing Assurances Review Staff Report Staff Statement Press Release on the Executive Board Discussion and Statement by the Executive Director for Nicaragua written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-03-18 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: The draft 2004 budget passed by the assembly is consistent with the Financial Sector Assessment Program (FSAP). Achieving the programmed strengthening of the tax effort remains a challenge. On the expenditure side, the aim is to improve the anti-poverty and pro-growth orientation of public spending. The operating surplus of state enterprises is improved in 2004. The stance of monetary policy is appropriate, as evidenced by the continued achievement of the program objectives for Net International Reserves (NIR) and inflation (in the context of the crawling peg regime).
Download or read book Malawi written by International Monetary Fund and published by International Monetary Fund. This book was released on 2003-11-07 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: Malawi has made satisfactory economic progress under the Poverty Reduction Growth Facility (PRGF) arrangement. Executive Directors commended fiscal consolidation, structural reforms, and monetary policy, and stressed the need to maintain macroeconomic stability. They welcomed the Malawi Poverty Reduction Strategy Paper, which is aimed to attain the Millennium Development Goals. They agreed that Malawi attained the successful completion of the first review under the PRGF arrangement and approved a waiver, extension of arrangement, and an interim assistance under the Heavily Indebted Poor Countries Debt Initiative.
Download or read book The Gambia written by International Monetary Fund and published by International Monetary Fund. This book was released on 2007-09-07 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key findings of the First Review Under the Poverty Reduction and Growth Facility (PRGF). Overall performance under the program has been strong. All but one of the quantitative performance criteria and indicative targets were met. Fiscal performance has been impressive, reflecting higher-than-projected revenues and strengthened expenditure control. However, two structural performance criteria were not observed. The medium-term macroeconomic framework underlying the program has been modified slightly. Maintaining fiscal discipline remains key to lowering domestic public debt and protecting poverty-reducing expenditures.
Download or read book Between Light and Shadow written by Mac Darrow and published by Bloomsbury Publishing. This book was released on 2003-03-20 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much has been written on the human rights relevance and impacts of the policies and activities of the World Bank and IMF --or International Financial Institutions (IFIs). However while many of the human rights-based critiques of the Bank and Fund purport to link broadly defined reforms with obligations under international human rights law,rarely has this been carried out through a rigorous and in-depth application of international legal rules governing the proper interpretation of the institutions' mandates, and rarely have the policy consequences and practical possibilities for human rights integration been explored in any detail. These are the principal gaps that the present book aims to fill, by reference to a sample of the IFIs' most important and controversial contemporary activities.
Download or read book Zambia written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-04-19 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines Zambia’s Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and a Request for Waiver and Modification of Performance Criteria (PC). Performance under the PRGF-supported program has been good, although there were delays in some structural measures. All but one of the PCs and all benchmarks under the quantitative program for December 2004 were observed. Two structural PCs were observed, and the third one, for end-February 2005, is now a prior action for the completion of the second review.
Download or read book Guinea written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-04-12 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first review of the three-year PRGF arrangement approved on May 2, 2001, has been delayed to give the authorities time to rectify weaknesses in program execution during a four-month consolidation period by meeting specified revenue and expenditure targets set for that period. The medium-term macroeconomic framework underpinning the poverty reduction strategy paper is consistent with that of the initial poverty reduction growth facility (PRGF)-supported program approved. The public enterprise restructuring and privatization program remains a key element of the structural reform agenda.
Download or read book Senegal written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-07-26 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: Senegal achieved robust economic growth and low inflation under the economic program. Executive Directors emphasized the need to correct slippages in fiscal governance and transparency to ensure budgetary discipline and strengthen procurement rules and practices. They appreciated the action plan for the development and soundness of the financial system, simplifying loan recovery procedures and improving the efficiency of the judiciary system to reduce nonperforming loans and increase credit availability. They welcomed the comprehensive framework for macroeconomic, structural, and social policies to foster growth and reduce poverty.
Download or read book Georgia written by International Monetary Fund and published by International Monetary Fund. This book was released on 2001-11-26 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: Georgia's medium-term economic goals are to reestablish fiscal and external sustainability and reduce poverty. The conduct of monetary policy has remained sound. Fiscal consolidation has been supported by important measures to strengthen public expenditure management and improve fiscal transparency. Measures to combat corruption, restructure the energy sector, and privatize key enterprises must be accelerated in order to underpin faster growth and poverty reduction. Georgia's efforts to restore its solvency will require continued international support, including further concessional lending and external debt rescheduling.
Download or read book Rwanda written by International Monetary Fund and published by International Monetary Fund. This book was released on 2003-06-27 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses Rwanda’s First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and Request for Waiver of Performance Criteria. Performance under the PRGF-supported program has been encouraging. However, poverty is pervasive, and the economy, which remains heavily dependent on rain-fed agriculture and external assistance, is vulnerable to changes in climate and in international developments. The 2003 program supports critical operations envisaged under the Poverty Reduction Strategy Paper, including the transition to democracy and military demobilization.
Download or read book Lao People s Democratic Republic written by International Monetary Fund and published by International Monetary Fund. This book was released on 2002-10-07 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines Lao People’s Democratic Republic’s (Lao PDR) 2002 Article IV Consultation, Second Review Under the Poverty Reduction and Growth Facility (PRGF), and a Request for Waiver of Performance Criteria. Over the past 15 months, Lao PDR has made substantial progress under the PRGF-supported program. Program implementation has been effective, and the program remains broadly on track. All quantitative performance criteria were met except for the net domestic assets of the state commercial banks. On the macroeconomic side, the program for 2002–03 consolidates stabilization efforts.
Download or read book Development Economics and Social Justice written by John Thoburn and published by Routledge. This book was released on 2017-11-28 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: Professor Ian Livingstone is one of a small group of British development economists who have achieved international renown and recognition. The objective of this book is to pay tribute to his life's work, particularly those aspects which related to key but challenging development issues. These issues include, at a broad level, the understanding of the economic forces determining the development of low income economies, more detailed micro work on agricultural development (irrigation in particular), decentralisation and local government finance, small scale enterprises, and large scale manufacturing development. Themes running through his work relate to his over-riding concern for rigour and for socio-economic justice. Ian Livingstone consistently used the traditional tools of economic analysis as a means to increase understanding of development issues - in a way which was, itself, just as radical as the contributions of political scientists and sociologists. This volume has been produced with similar aims.
Download or read book Bangladesh written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-02-02 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: Satisfactory progress has been made so far under the first-year poverty reduction and growth facility and the program is on track. Turning this progress into faster and lasting growth requires deeper reform to improve the investment climate and credible action to strengthen governance. The recent shift in the stance of macroeconomic policies to support growth is timely. The targeted increase in the budget for infrastructure and social spending is well considered. Bangladesh's record under the program so far has been positive overall.
Download or read book Sovereign Debt Restructurings in Grenada written by Mr.Tamon Asonuma and published by International Monetary Fund. This book was released on 2017-07-26 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper documents the two debt restructurings that Grenada undertook in 2004–06 and 2013–15.Both restructurings emerged as a consequence of weak fiscal and debt situations, whichbecame unsustainable soon after external shocks hit the island economy. The two restructurings provided liquidity relief, with the second one involving a principal haircut. However, the first restructuring was not able to secure long-term debt sustainability. Grenada’s restructuring experience shows the importance of (1) establishing appropriate debt restructuring objectives; (2) committing to policy reforms and maintaining ownership of the restructuring goals; and (3) engaging closely and having clear communications with creditors.
Download or read book Cameroon written by International Monetary Fund and published by International Monetary Fund. This book was released on 2001-08-06 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cameroon’s good record of performance in the macroeconomic and structural areas under the previous three-year Poverty Reduction and Growth Facility (PRGF) arrangement remained broadly satisfactory during the first six months of the first annual program. Progress in structural reforms has continued, notably in the financial, transport, forestry, and petroleum sectors. For the medium term, Executive Directors emphasized the importance of continuing to strengthen the efficiency and transparency of public revenue and expenditure management, and welcomed the authorities’ intention to launch a technical audit of the judicial system.
Download or read book Honduras written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-02-02 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines Honduras’s 2005 Article IV Consultation and Second Review Under the Poverty Reduction and Growth Facility. In the period 1960–2000, output growth in Honduras ranked among the lowest in the region. During the 1990s, when growth recovered in the rest of Central America, in Honduras it only kept pace with population growth. The authorities embarked on an economic reform program that focuses on ensuring macroeconomic stability and strengthening growth prospects through the development of human capital and basic infrastructure.
Download or read book Evaluation of the Technical Assistance Provided by the International Monetary Fund written by International Monetary Fund. Independent Evaluation Office and published by International Monetary Fund. This book was released on 2005-04-15 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technical assistance is one of the key services provided by the IMF to member countries—particularly lower income countries. It covers a wide set of activities, from technical assistance to support IMF policy advice to longer-term assistance to support countries’ institutional development. This evaluation report examines the relevance and effectiveness of IMF technical assistance, and derives recommendations for both IMF management and the Executive Board.
