Download or read book Macroeconomic Developments and Prospects in Low Income Developing Countries 2016 written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2016-11-23 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is the third in a series assessing macroeconomic developments and prospects in low-income developing countries (LIDCs). The first of these papers (IMF, 2014a) examined trends during 2000–2014, a period of sustained strong growth across most LIDCs. The second paper (IMF, 2015a) focused on the impact of the drop in global commodity prices since mid-2014 on LIDCs—a story with losers (countries dependent on commodity exports, notably fuel) and winners (countries with a more diverse export base, where growth remained robust). The overarching theme in this paper’s assessment of the macroeconomic conjuncture among LIDCs is that of incomplete adjustment to the new world of “lower for long” commodity prices, with many commodity exporters still far from a sustainable macroeconomic trajectory (Chapter 1). The analysis of risks and vulnerabilities focuses on financial sector stresses and medium-term fiscal risks, pointing to the actions, including capacity building, needed to manage and contain these challenges over time (Chapter 2). With 2016 the first year of the march towards the 2030 development goals, the paper also looks at how infrastructure investment can be accelerated in LIDCs, given that weaknesses in public infrastructure (such as energy, transportation systems) in LIDCs are widely seen as a key constraint on medium-term growth potential (Chapter 3). With the sharp adjustment in commodity prices now into its third year, some of the key messages of the paper are familiar: a) many commodity exporters, notably fuel producers, remain under significant economic stress, with sluggish growth, large fiscal imbalances, and weakened foreign reserve positions; b) countries with a more diversified export base are generally doing well, although several have been hit by declines in remittances, conflict/natural disasters, and the contractionary impact of macroeconomic stabilization programs; c) widening fiscal imbalances, in both commodity and diversified exporters, have resulted in rising debt levels, with severe financing stress emerging in some cases; and d) financial sector stresses have emerged in many LIDCs, with expectations that these strains will increase in many commodity exporters over the next 12–18 months. Key messages on financial sector oversight, on medium-term fiscal risks, and on tackling infrastructure gaps are flagged below. Read Executive Summary in: Arabic; Chinese; French; Spanish

Download or read book Macroeconomic Developments and Prospects in Low Income Developing Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2018-03-22 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper is the fourth in a series that examines macroeconomic developments and prospects in Low Income Developing Countries (LIDCs). LIDCs are Fund member countries where gross national income (GNI) per capita lies below a threshold level and where external financial linkages and socioeconomic indicators have not lifted them into emerging market status. There are 59 countries in the LIDC grouping, accounting for about one-fifth of the world’s population and 4 percent of global output. The paper examines macroeconomic trends across LIDCs in recent years, contrasting key features of the current situation with the period prior to the 2014 decline in commodity prices. Particular attention is given to the evolution of fiscal positions and public debt levels, including detailed analysis of the drivers of debt accumulation and the current severity of debt vulnerabilities. The analysis is grounded in, and draws on, the analysis and databases used to compile the World Economic Outlook: this report drills down into the WEO database to look in detail at the experience of LIDCs."

Download or read book Macroeconomic Developments and Prospects in Low Income Developing Countries 2015 written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2015-11-19 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines macroeconomic developments and prospects in low-income developing countries (LIDCs) against the back-drop of a sharp fall in international commodity prices. The focus here—by contrast with IMF (2014a)—is on recent developments and the near-term outlook, recognizing that the new price environment is likely to remain in place for several years to come. The paper also includes a section examining the experience of LIDCs with capital inflows over the past decade.

Download or read book Macroeconomic Developments and Prospects in Low Income Developing Countries 2019 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2019-12-13 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is the fifth in a series that examines macroeconomic developments and prospects in low-income developing countries (LIDCs). LIDCs are a group of 59 IMF member countries primarily defined by income per capita below a threshold level. LIDCs contain one fifth of the world’s population—1.5 billion people—but account for only 4 percent of global output. The first chapter of the paper discusses recent macroeconomic developments and trends across LIDCs and, using growth decompositions, explores the key drivers of growth performance in LIDCs. A second chapter examines the challenges faced by LIDCs in implementing a value-added tax system, generally seen as a key component of a strong national tax system. The third chapter discusses how financial safety nets can be appropriately tailored to the specific needs of LIDCs, recognizing that an effective safety net is important for ensuring financial stability and underpinning public confidence in the financial system, thereby promoting financial intermediation.

Download or read book Macroeconomic Developments in Low Income Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-09-18 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines macroeconomic developments and related vulnerabilities in low-income developing countries (LIDCs)—a group of 60 countries that have markedly different economic features to higher income countries and are eligible for concessional financing from both the IMF and the World Bank. Collectively, they account for about one-fifth of the world’s Population.

Download or read book Sustaining Long Run Growth and Macroeconomic Stability in Low Income Countries The Role of Structural Transformation and Diversification Background Notes written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-07-03 with total page 107 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL

Download or read book Evolving Monetary Policy Frameworks in Low Income and Other Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-10-23 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.

Download or read book World Economic Outlook April 2016 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2016-04-12 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Major macroeconomic realignments are affecting prospects differentially across the world’s countries and regions. The April 2016 WEO examines the causes and implications of these realignments—including the slowdown and rebalancing in China, a further decline in commodity prices, a related slowdown in investment and trade, and declining capital flows to emerging market and developing economies—which are generating substantial uncertainty and affecting the outlook for the global economy. Additionally, analytical chapters examine the slowdown in capital flows to emerging market economies since their 2010 peak—its main characteristics, how it compares with past slowdowns, the factors that are driving it, and whether exchange rate flexibility has changed the dynamics of the capital inflow cycle—and assess whether product and labor market reforms can improve the economic outlook in advanced economies, looking at the recent evolution and scope for further reform, the channels through which reforms affect economic activity under strong versus weak economic conditions, reforms’ short- to medium-term macroeconomic effects, and sequencing of reforms and coordination with other policies to maximize their potential quantitative economic benefits. A special feature analyzes in depth the energy transition in an era of low fossil fuel prices.

Download or read book Trends and Challenges in Infrastructure Investment in Low Income Developing Countries written by Daniel Gurara and published by International Monetary Fund. This book was released on 2017-11-07 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines trends in infrastructure investment and its financing in low-income developing countries (LIDCs). Following an acceleration of public investment over the last 15 years, the stock of infrastructure assets increased in LIDCs, even though large gaps remain compared to emerging markets. Infrastructure in LIDCs is largely provided by the public sector; private participation is mostly channeled through Public-Private Partnerships. Grants and concessional loans are an essential source of infrastructure funding in LIDCs, while the complementary role of bank lending is still limited to a few countries. Bridging infrastructure gaps would require a broad set of actions to improve the efficiency of public spending, mobilize domestic resources and support from development partners, and crowd in the private sector.

Download or read book Macro Structural Policies and Income Inequality in Low Income Developing Countries written by Ms.Stefania Fabrizio and published by International Monetary Fund. This book was released on 2017-01-26 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite sustained economic growth and rapid poverty reductions, income inequality remains stubbornly high in many low-income developing countries. This pattern is a concern as high levels of inequality can impair the sustainability of growth and macroeconomic stability, thereby also limiting countries’ ability to reach the Sustainable Development Goals. This underscores the importance of understanding how policies aimed at boosting economic growth affect income inequality. Using empirical and modeling techniques, the note confirms that macro-structural policies aimed at raising growth payoffs in low-income developing countries can have important distributional consequences, with the impact dependent on both the design of reforms and on country-specific economic characteristics. While there is no one-size-fits-all recipe, the note explores how governments can address adverse distributional consequences of reforms by designing reform packages to make pro-growth policies also more inclusive.

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 Making It Big written by Andrea Ciani and published by World Bank Publications. This book was released on 2020-10-08 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic and social progress requires a diverse ecosystem of firms that play complementary roles. Making It Big: Why Developing Countries Need More Large Firms constitutes one of the most up-to-date assessments of how large firms are created in low- and middle-income countries and their role in development. It argues that large firms advance a range of development objectives in ways that other firms do not: large firms are more likely to innovate, export, and offer training and are more likely to adopt international standards of quality, among other contributions. Their particularities are closely associated with productivity advantages and translate into improved outcomes not only for their owners but also for their workers and for smaller enterprises in their value chains. The challenge for economic development, however, is that production does not reach economic scale in low- and middle-income countries. Why are large firms scarcer in developing countries? Drawing on a rare set of data from public and private sources, as well as proprietary data from the International Finance Corporation and case studies, this book shows that large firms are often born large—or with the attributes of largeness. In other words, what is distinct about them is often in place from day one of their operations. To fill the “missing top†? of the firm-size distribution with additional large firms, governments should support the creation of such firms by opening markets to greater competition. In low-income countries, this objective can be achieved through simple policy reorientation, such as breaking oligopolies, removing unnecessary restrictions to international trade and investment, and establishing strong rules to prevent the abuse of market power. Governments should also strive to ensure that private actors have the skills, technology, intelligence, infrastructure, and finance they need to create large ventures. Additionally, they should actively work to spread the benefits from production at scale across the largest possible number of market participants. This book seeks to bring frontier thinking and evidence on the role and origins of large firms to a wide range of readers, including academics, development practitioners and policy makers.

Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.

Download or read book International Monetary Fund Annual Report 2017 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2017-10-05 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the past financial year, the IMF’s 189 member countries faced a number of pressing challenges. IMF work on these challenges - slower trade, declining productivity, gender inequality, inclusive growth, and debt management - is a central focus of this 2017 Annual Report.

Download or read book Global Economic Prospects January 2016 written by World Bank and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Global growth disappointed once again in 2015. A further deceleration of activity in key emerging and developing economies overshadowed a modest recovery in major high-income countries, amid weakening commodity prices, global trade, and capital flows. Going forward, global growth should pick up at an appreciably slower pace than previously projected. Risks to the outlook remain markedly tilted to the downside. In addition to discussing global and regional economic developments and prospects, this edition of Global Economic Prospects includes a comprehensive analysis of spillovers from a slowdown in major emerging markets to other developing economies, as well as two essays on key topical issues: the potential macroeconomic implications of the Trans-Pacific Partnership and the links between exchange rate regimes and capital controls in developing countries. It also includes a special focus on mounting vulnerabilities in low-income countries before major resource discoveries come into production. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging markets and developing countries, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by developing countries while the June edition contains shorter analytical pieces."--Back cover.

Download or read book Macroeconomic Research in Low income Countries written by Hites Ahir and published by International Monetary Fund. This book was released on 2021-03-24 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite strong economic growth since 2000, many low-income countries (LICs) still face numerous macroeconomic challenges, even prior to the COVID-19 pandemic. Despite the deceleration in real GDP growth during the 2008 global financial crisis, LICs on average saw 4.5 percent of real GDP growth during 2000 to 2014, making progress in economic convergence toward higher-income countries. However, the commodity price collapse in 2014–15 hit many commodity-exporting LICs and highlighted their vulnerabilities due to the limited extent of economic diversification. Furthermore, LICs are currently facing a crisis like no other—COVID-19, which requires careful policymaking to save lives and livelihoods in LICs, informed by policy debate and thoughtful research tailored to the COVID-19 situation. There are also other challenges beyond COVID-19, such as climate change, high levels of public debt burdens, and persistent structural issues.

Download or read book Private Finance for Development written by Hilary Devine and published by International Monetary Fund. This book was released on 2021-05-14 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Covid-19 pandemic has aggravated the tension between large development needs in infrastructure and scarce public resources. To alleviate this tension and promote a strong and job-rich recovery from the crisis, Africa needs to mobilize more financing from and to the private sector.