Download or read book Kenya Technical Assistance Report Further Review of Rebased GDP Estimates written by International Monetary and published by International Monetary Fund. This book was released on 2022-04-15 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Technical Assistance (TA) mission was conducted in July 2021 to review the data sources and methods used to produce revised estimates of the Kenyan National Accounts (NA) for the period 2009–2019. The mission also provided guidance on producing a revision report to be published at the time of the release.
Download or read book Kenya written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2018-10-23 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2018 Article IV Consultation highlights that Kenya has maintained strong growth in recent years. External imbalances have narrowed, strengthening resilience to shocks. The business environment continues to improve, supporting private investment. However, a severe drought, an extended presidential election, and weak bank lending—due in part to interest rate controls—slowed growth in 2017. Kenya’s medium-term growth prospects are favorable, supported by infrastructure investment and an improving business environment. However, continued strong growth and macroeconomic stability hinge on the implementation of reforms. In addition, headwinds from fiscal consolidation and weak credit growth will weigh on economic activity in the near term.
Download or read book Uganda written by International Monetary Fund. Statistics Dept. and published by International Monetary Fund. This book was released on 2017-10-06 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Assistance Report discusses technical advice and recommendations given by the IMF mission to the authorities of Uganda regarding finalization of the rebased GDP estimates for dissemination. For the economic activity worksheets, the nominal and real growth rates, intermediate consumption/gross output ratios at current and constant prices, and implicit price deflators were checked. A number of adjustments were made to the methodology to improve the representativeness of the indicators and the weights of the composite price indices to ensure the resulting estimates are within expectations. There is considerable scope to improve the price deflators and constant price estimates. Technical Assistance to improve the expenditure estimates will be provided during 2015.
Download or read book Republic of Kenya written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2020-05-11 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the Republic of Kenya’s Request for Disbursement Under the Rapid Credit Facility (RCF). The coronavirus disease 2019 pandemic is taking a serious toll on the Kenyan economy, significantly reducing growth, creating fiscal and external financing needs. It is important that the authorities resume their fiscal consolidation plans to reduce macroeconomic vulnerabilities once the crisis abates. The pandemic has impacted nearly all facets of the economy—particularly tourism, transport, and trade—and led to urgent balance of payments and fiscal financing needs. Emergency financing under the RCF will deliver liquidity support to help Kenya cover its balance of payments gap this year. It will provide much-needed resources for fiscal interventions to safeguard public health and support households and firms affected by the crisis. It will also catalyze necessary financing from other donors. The Central Bank of Kenya (CBK) has taken various measures to maintain enough liquidity in the financial sector. It should continue to stand ready to further support the economy and the financial sector’s health, as necessary, while ensuring that policy decisions are data driven. The CBK should also continue to allow the exchange rate to act as a shock absorber.
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 Kenya written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2024-08-07 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the request of the Central Bank of Kenya (CBK), a technical assistance (TA) mission from the Monetary and Capital Markets (MCM) department visited Nairobi, Kenya, from April 17–21, 2023, to help improve the CBK’s Forecasting and Policy Analysis System (FPAS). The main objectives were to improve the CBK’s business surveys and strengthen its nowcasting framework for GDP and CPI inflation. The mission held interactive technical sessions with CBK staff and provided detailed recommendations for refining survey questions and integrating survey results into the policy process. It developed EViews programs for efficient survey data management and the conversion of qualitative data to quantitative data using the Balance of Opinion approach. Moreover, the mission improved the nowcasting framework by fixing and enhancing the EViews-based platform and developing tools for automated model evaluation. Regarding CBK business surveys, the mission recommended (i) streamlining survey questions and timing to better inform nowcasts and projections, (ii) creating a firm registry to track survey respondents and ensure sample representativeness, and (iii) automating the survey data pipeline and consolidating historical results into a time series. Regarding the nowcasting framework, the mission suggested (i) integrating quantified survey results into the nowcasting models, (ii) continuing to refine the nowcasting framework at a disaggregated level, and (iii) expanding the database of leading indicators and assessing new models using the forecast evaluation framework.
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Download or read book Global Economic Prospects June 2021 written by World Bank and published by World Bank Publications. This book was released on 2021-08-03 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.
Download or read book Barbados written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2018-10-04 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: The key objectives of the program are to restore macroeconomic and debt sustainability, address falling reserves, and increase growth. The new government, which took office in late May, has committed to fiscal consolidation and structural reform as key tools for macroeconomic adjustment.
Download or read book Myanmar written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2020-03-26 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation focuses on Myanmar’s near- and medium-term challenges and policy priorities and was prepared before COVID-19 became a global pandemic and resulted in unprecedented strains in global trade, commodity and financial markets. It, therefore, does not reflect the implications of these developments and related policy priorities. These developments have greatly amplified uncertainty and could heighten downside risks around the outlook. The IMF staff is closely monitoring the situation, including related policy responses from the authorities, and will continue to work on assessing its impact in the Myanmar economy. Although long-term prospects remain favorable, near-term growth is likely to remain below potential as the correction in real estate market and continued uncertainty weighs on investor sentiment in the runup to the 2020 elections. Starting FY2020/21, bank deleveraging will further slow credit and constrain gross domestic product growth as borrower’s true ability to repay is revealed with term loans coming due and banks restructure in earnest.
Download or read book The Imperative of Development written by Geoffrey Gertz and published by Brookings Institution Press. This book was released on 2017-09-12 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: " The achievements and legacy of the Wolfensohn Center for Development at Brookings The Imperative of Development highlights the research and policy analysis produced by the Wolfensohn Center for Development at Brookings. The Center, which operated from 2006 to 2011, was the first home at Brookings for research on international development. It sought to help identify effective solutions to key development challenges in order to create a more prosperous and stable world. Founded by James and Elaine Wolfensohn, the Center’s mission was to “to create knowledge that leads to action with real, scaled-up, and lasting development impact.” This volume reviews the Center’s achievements and lasting legacy, combining highlights of its most important research with new essays that examine the context and impact of that research. Six primary research streams of the Wolfensohn Center’s work are highlighted in The Imperative of Development: the shifting structure of the world economy in the twenty-first century; the challenge of scaling up the impact of development interventions; the effectiveness of development assistance; how to promote economic and social inclusion for Middle Eastern youth; the case for investing in early child development; and the need for global governance reform. In each chapter, a scholar associated with the particular research topic provides an overview of the issue and its broader context, then describes the Center’s work on the topic and the subsequent influence and impact of these efforts. The Imperative of Development chronicles the growth and expansion of the first center for development research in Brookings’s 100-year history and traces how the seeds of this initiative continue to bear fruit. "
Download or read book The Shadow Economy written by Friedrich Schneider and published by Cambridge University Press. This book was released on 2013-02-14 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents new data to give an overview of shadow economies from OECD countries and propose solutions to prevent illicit work.
Download or read book Liberia written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2020-06-12 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents Liberia’s Request for Disbursement Under the Rapid Credit Facility. The economic impact of the pandemic is hitting the poorest with little social safety net, and food security of those relying on uncertain daily income is a pressing concern. The authorities have responded by taking revenue and expenditure measures to support emergency food aid for the poor; improving monitoring and control of spending; and safeguarding scarce foreign exchange reserves. Preliminary data suggest that performance under the Extended Credit Facility-supported program has been weak, though the authorities are fully committed to address the weaknesses. In order to address the shortage of Liberian dollars and the growing need for more US dollar liquidity, the authorities have contracted the printing of additional Liberian dollar bank notes and are formulating measures for inclusion in the FY2021 budget to augment US dollar liquidity.
Download or read book Reforming Africa s Institutions written by Steve Kayizzi-Mugerwa and published by . This book was released on 2003 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is not a single African country that did not attempt public sector reforms in the 1990s. Governments no longer see themselves as sole suppliers of social services, frequently opting for partnerships with the private sector. Efficiency and choice have entered the language of the planning and implementation units of Africa's line ministries, while privatization is no longer the controversial subject it was a decade ago. There have also been moves towards more open and democratic governments. Reforming Africa's Institutions looks at the extent to which reforms undertaken in Sub-Saharan Africa in recent years have enhanced institutional capacities across the breadth of government. To what extent have reforms been internalized and defended by governments? The authors also look specifically at the impact of public sector reforms on these economies and pose the question whether 'ownership can be attained when countries continue to be heavily dependent on external support. The volume is presented in three parts. The first focuses on the issue of reform ownership; on the issues of governance, the political economy of reform ownership, and the contradictions inherent in using aid as an instrument for enhancing domestic reform ownership. Part two examines the nature of incentives in the African civil service and the reforms undertaken in recent years to raise public sector efficiency in Africa. The third part discusses issues related to institutional capabilities in Africa and how they have been affected by the reforms undertaken in the 1990s, including privatization and movement towards political pluralism.
Download or read book Kenya written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-02-10 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: Kenya’s economy is bouncing back following multiple shocks between 2008 and 2009. The program targets a gradual reduction in the central government primary balance through tax reform and strict control of current spending to bring the debt-to-GDP ratio below 45 percent at the end of the program period. Tax policy reform will focus on the VAT, streamlining tax incentives, and eliminating loopholes. Kenya has made significant strides in domestic revenue mobilization, but redesigning the tax structure is a key priority.
Download or read book Barbados written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2019-12-18 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents 2019 Article IV Consultation with Barbados and its Second Review Under the Extended Arrangement, Request for Completion of the Financing Assurances Review, and Modification of Performance Criteria. The Article IV discussions focused on fiscal adjustment, medium-term growth and resilience to climate change and natural disasters. The Barbadian authorities continue to make good progress in implementing the comprehensive Economic Recovery and Transformation (BERT) plan aimed at restoring fiscal and debt sustainability, rebuilding reserves, and increasing growth. All program targets for end-June and end-September 2019 have been met. All three structural benchmarks for the second review have also been met. The authorities have continued the reform of state-owned enterprises (SOEs) by completing a review of tariffs and fees charged by SOEs, tightening reporting requirements, and reducing costs. The authorities reached agreement with the External Creditor Committee on a restructuring of external debt to private creditors in October 2019 and launched a debt exchange offer in early November. The IMF Staff proposes modification of the performance criteria relating to the primary balance, net international reserves and net domestic assets.
Download or read book World Development Report 2017 written by World Bank Group and published by World Bank Publications. This book was released on 2017-01-23 with total page 605 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why are carefully designed, sensible policies too often not adopted or implemented? When they are, why do they often fail to generate development outcomes such as security, growth, and equity? And why do some bad policies endure? World Development Report 2017: Governance and the Law addresses these fundamental questions, which are at the heart of development. Policy making and policy implementation do not occur in a vacuum. Rather, they take place in complex political and social settings, in which individuals and groups with unequal power interact within changing rules as they pursue conflicting interests. The process of these interactions is what this Report calls governance, and the space in which these interactions take place, the policy arena. The capacity of actors to commit and their willingness to cooperate and coordinate to achieve socially desirable goals are what matter for effectiveness. However, who bargains, who is excluded, and what barriers block entry to the policy arena determine the selection and implementation of policies and, consequently, their impact on development outcomes. Exclusion, capture, and clientelism are manifestations of power asymmetries that lead to failures to achieve security, growth, and equity. The distribution of power in society is partly determined by history. Yet, there is room for positive change. This Report reveals that governance can mitigate, even overcome, power asymmetries to bring about more effective policy interventions that achieve sustainable improvements in security, growth, and equity. This happens by shifting the incentives of those with power, reshaping their preferences in favor of good outcomes, and taking into account the interests of previously excluded participants. These changes can come about through bargains among elites and greater citizen engagement, as well as by international actors supporting rules that strengthen coalitions for reform.
