Download or read book Gabon Request for a Three Year Extended Arrangement Under the Extended Fund Facility Press Release Staff Report Supplementary Information and Statement by the Executive Director for Gabon written by International Monetary and published by International Monetary Fund. This book was released on 2021-08-26 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Gabonese economy was gradually recovering from the 2014 oil price shock when it was hit by the Covid-19 pandemic. Decisive confinement measures have helped save lives, but the pandemic and the fall in oil prices have severely hit the economy, increasing unemployment and poverty. With a weak economy and increased COVID-19 related spending, the fiscal deficit has widened, with a sharp increase in public debt. Emergency financing from the IMF through the Rapid Financing Instrument (US$299.61 million) helped meet urgent balance of payment needs in 2020. Growth is expected to resume in 2021 but the pandemic has made the economic outlook very challenging and generated sizable financing needs over the medium term.
Download or read book Gabon Request for a Three Year Extended Arrangement under the Extended Fund Facility Press Release Staff Report Supplementary Information and Statement by the Executive Director for Gabon written by International Monetary and published by International Monetary Fund. This book was released on 2021-08-26 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Gabonese economy was gradually recovering from the 2014 oil price shock when it was hit by the Covid-19 pandemic. Decisive confinement measures have helped save lives, but the pandemic and the fall in oil prices have severely hit the economy, increasing unemployment and poverty. With a weak economy and increased COVID-19 related spending, the fiscal deficit has widened, with a sharp increase in public debt. Emergency financing from the IMF through the Rapid Financing Instrument (US$299.61 million) helped meet urgent balance of payment needs in 2020. Growth is expected to resume in 2021 but the pandemic has made the economic outlook very challenging and generated sizable financing needs over the medium term.
Download or read book Gabon written by International Monetary Fund African Dept and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Gabonese economy was gradually recovering from the 2014 oil price shock when it was hit by the Covid-19 pandemic. Decisive confinement measures have helped save lives, but the pandemic and the fall in oil prices have severely hit the economy, increasing unemployment and poverty. With a weak economy and increased COVID-19 related spending, the fiscal deficit has widened, with a sharp increase in public debt. Emergency financing from the IMF through the Rapid Financing Instrument (USD 299.61 million) helped meet urgent balance of payment needs in 2020. Growth is expected to resume in 2021 but the pandemic has made the economic outlook very challenging and generated sizable financing needs over the medium term.
Download or read book Gabon written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2019-01-22 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Political risks appear to have subsided with the completion of legislative and local elections in October. The economy is slowly recovering, fiscal consolidation has continued, inflation has remained low, and the trade balance has improved. The recovery is expected to firm up in 2019 and the medium-term outlook is still promising, although risks remain mostly tilted to the downside.
Download or read book Gabon written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2017-07-11 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gabon is the second largest economy in the Central African Economic and Monetary Union (CEMAC). Since mid-2014, the decline in oil prices has generated a sharp slowdown in economic activity, large drops in oil exports and fiscal revenues, and widening fiscal and current account deficits. The Gabonese authorities are requesting a three-year, extended arrangement under the Extended Fund Facility (EFF) in an amount equivalent to SDR 464.400 million, corresponding to 215 percent of Gabon’s quota at the Fund.
Download or read book Gabon written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2019-01-22 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Political risks appear to have subsided with the completion of legislative and local elections in October. The economy is slowly recovering, fiscal consolidation has continued, inflation has remained low, and the trade balance has improved. The recovery is expected to firm up in 2019 and the medium-term outlook is still promising, although risks remain mostly tilted to the downside.
Download or read book Cameroon Requests for Three Year Arrangements Under the Extended Credit Facility and the Extended Fund Facility Press Release Staff Report Staff Statement and Statement by the Executive Director for Cameroon written by International Monetary and published by International Monetary Fund. This book was released on 2021-08-10 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cameroon, the largest economy in the Central African Economic and Monetary Union (CEMAC), continues to face the repercussions of the COVID-19 pandemic. Since the onset of the pandemic, the IMF’s Executive Board has approved two disbursements under the Rapid Credit Facility (RCF) totaling SDR 276 million, about US$ 382 million or 100 percent of Cameroon’s quota. Cameroon’s last arrangement under the Extended Credit Facility (ECF) ended in September 2020, without completion of the sixth and final review. The authorities have requested new arrangements from the IMF to help maintain external sustainability, implement their ambitious reform agenda—laid out in the National Development Strategy for 2020-30 (SND30)—and catalyze financial support from other donors.
Download or read book Critical and Feminist Perspectives on Financial and Economic Crises written by Sakiko Fukuda-Parr and published by Routledge. This book was released on 2017-10-02 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic and financial crises have become perennial features of today’s global economy. Macroeconomic theories of crisis, including the global crisis that unfolded in 2008, emphasize the role of financial deregulation; capital flow imbalances; and growing debt, fueled by income and wealth inequality. These approaches tend to be divorced from feminist thinking which analyzes broader distributional dynamics transmitted through structural channels and government policy responses, with an emphasis on gender, race, class and ethnicity. This volume brings together innovative thinking from heterodox macroeconomists and feminist economists to explore the causes, consequences, and ramifications of economic crises. By doing so, it highlights aspects of the economy that are frequently overlooked or ignored, such as the impact of crises on the vast amount of unpaid work which women perform relative to men.? The collection of international studies assembled here takes an innovative approach to analyzing a range of issues, from the subprime mortgage crisis to the gendered effects of austerity to the role of the International Monetary Fund in governing an unstable global economy. In so doing, it looks beyond causes and consequences and points to new directions for macroeconomic and financial policy. This book was originally published as a special issue of Feminist Economics.
Download or read book International Monetary Fund Annual Report 2019 Financial Statements written by International Monetary Fund and published by International Monetary Fund. This book was released on 2019-10-04 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: The audited consolidated financial statements of the International Monetary Fund as of April 30, 2019 and 2018
Download or read book Chad Request for a Three Year Arrangement Under the Extended Credit Facility Press Release Staff Report and Statement by the Executive Director for Chad written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2021-12-15 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic, the volatility in oil prices, heightened insecurity, and a looming food crisis due to climate change have severely stressed an already vulnerable Chadian economy. The two Rapid Credit Facility (RCF) disbursements in April and July 2020 allowed Chad to meet its immediate financing and urgent balance of payment needs in the early stages of the pandemic. The authorities have requested Fund assistance under the ECF to support their post-COVID recovery and their plan to reduce debt vulnerabilities through a combination of a debt workout and a multi-year fiscal consolidation program. However, due to the death of the president following a resurgence of fighting with rebel groups in April and the delayed delivery of donor support, the treasury situation has become extremely tight, threatening social stability.
Download or read book Publications Catalog written by International Monetary Fund and published by . This book was released on 2004 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Central African Republic written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2020-01-13 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses Central African Republic’s (CAR) Request for a Three-Year Arrangement Under the Extended Credit Facility. Consistent with the IMF’s Country Engagement Strategy, the IMF-supported program is expected to support the implementation of the peace agreement and of CAR’s medium-term development strategy. Its main objectives are to maintain macroeconomic stability, strengthen administrative capacity, governance, and the business climate, and address CAR’s protracted balance of payments needs. Fiscal policy will focus on revenue mobilization, spending prioritization, and strengthening public financial management, with a view to allow, over the medium term, the durable financing of CAR’s considerable security, social, and infrastructure spending needs. Structural reforms will aim at improving the government’s capacity to design and implementing policies and reforms, at enhancing governance, including through strengthening anticorruption institutions, and at removing bottlenecks and regulatory impediments to private investment. The new arrangement will also help catalysing external concessional financing from other development partners, which is critical to support CAR’s path out of fragility. The IMF will also continue its extensive capacity development on priorities that are aligned with the program objectives.
Download or read book Central African Economic and Monetary Community CEMAC written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2019-01-03 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: The regional strategy has helped to avert an immediate crisis but continues to face headwinds: two countries have yet to enter financing arrangements with the Fund: regional reserves have underperformed despite higher-than-projected oil prices; the projected recovery of non-oil growth has still to materialize; and the security, social, and political context remains challenging. Consistent with the policy assurances it had provided, the BEAC has taken corrective actions, including an increase in its policy rate, to address the NFA underperformance and has made substantial progress toward finalizing by end-year the modernization of the monetary policy operational framework and the drafting of new foreign exchange regulations. A follow-up letter of support provides updated policy assurances on the NFA path. The medium-term outlook continues to see a gradual improvement in the economic and financial situation but is subject to substantial downside risks, including further delays in the approval of financial arrangements with Congo and Equatorial Guinea, lower oil prices, and tighter global financial conditions. The region continues to face daunting challenges to diversify its economy, with a poor business environment and high perception of corruption.
Download or read book Cameroon written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2024-02-22 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: Climate change presents substantial risks for Cameroon. In addition to being the largest CEMAC economy with ample economic potential and abundant natural resources, Cameroon covers large areas of the Congo Basin rainforest, the second largest in the world. At the same time, the country is a fragile and conflict affected state (FCS), with a range of fragilities, including a high vulnerability to climate change. Climate risks are intensifying in Cameroon, with temperatures progressively rising, and a projected increase in days with heavy precipitation and higher frequency of extreme weather events, such as droughts, landslides, and floods. Climate change poses an imminent threat to livelihoods and could result in significant output losses, while worsening food insecurity and conflicts, and exacerbating poverty, inequality, and population displacements. This underscores the need to strengthen the country’s preparedness and resilience to ensure that climate change impact does not jeopardize human capital accumulation or inclusive growth.
Download or read book International Monetary Fund Annual Report 2021 written by International Monetary Fund. Secretary's Department and published by International Monetary Fund. This book was released on 2021-10-04 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.
Download or read book Chad written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2019-01-24 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current ECF arrangement (access of 160 percent of quota or SDR 224.32 million) was approved on June 30, 2017 in the context of a very difficult and deteriorating social, economic, and financial situation. The crisis was precipitated by the oil price and security shocks that began in 2014, and the heavy burden of external commercial debt with Glencore. The restructuring of this debt in June 2018 paved the way for the completion of the second review in July 2018. Chad’s stability is key for the regional security situation given its regional peace-keeping efforts.
Download or read book Central African Republic written by International Monetary Fund and published by International Monetary Fund. This book was released on 1997-04-17 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper describes economic developments in the Central African Republic during 1990–97. After four years of decline, the real gross domestic product of the Central African Republic (GDP at market prices) recovered in 1994 at the estimated rate of 7.7 percent. This primarily reflected the positive effects of the January 1994 devaluation of the CFA franc on the competitive position of the country, which had been continuously eroding since the mid-1980s. In 1995, real GDP continued to grow, although at a slower rate, estimated at 2.4 percent, largely because of the resilient informal sector.
