Download or read book Paving the Way to More Resilient Inclusive and Greener Economies in the Caucasus and Central Asia written by Nikoloz Gigineishvili and published by International Monetary Fund. This book was released on 2023-06-08 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Raising long-term growth and resilience and improving living standards and inclusion are the top economic policy priorities for countries in the Caucasus and Central Asia (CCA). The region responded strongly to the COVID shock, which unavoidably caused a contraction in output and an increase in poverty and inequality. While the region is at the crossroads between the West and the East as it is facing heightened uncertainty due to Russia's war in Ukraine and the rising risk of global fragmentation. Climate change is an additional challenge that could have a significant negative impact on CCA countries in the long term. These challenges, however, also offer an opportunity for the region to develop a new growth model that could strengthen long-term resilience, accelerate income convergence with more advanced country peers, and improve human development and social outcomes. The paper argues that a more market-based allocation of limited resources is needed to channel capital and labor to their most productive use. The private sector needs to become a key driver of economic activity while the state provides a competitive and market-friendly business environment, delivers essential public goods and services, addresses externalities and market failures, and mitigates systemic risks. The state also retains a critical role in mobilizing public support and resources for climate policies and protecting the vulnerable. Well-designed social safety nets play a key role in reducing poverty and inequality and are essential to the new economic growth model to support human capital development and alleviate the impact of structural reforms on the most vulnerable.
Download or read book Financial Development and Growth in the Caucasus and Central Asia written by Mr. Tigran Poghosyan and published by International Monetary Fund. This book was released on 2022-07-08 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents stylized facts on financial development in the CCA countries relative to their EM and LIC peers and assesses how financial development can boost growth in the CCA. Drawing on IMF’s multidimensional index of financial development, we find that CCA countries have made progress following the independence in early 1990s. However, the progress was uneven across the CCA, resulting in a divergence of financial development over time and mixed performance relative to EM and LIC peers. Financial institutions have progressed the most, while financial markets remain underdevelped in most CCA countries except Kazakhstan. In terms of sub-indicators of financial development, financial access has expanded markedly, while the depth of financial intermediation has remained largely shallow and efficiency of financial intermediation has fluctuated over time. Standard growth regressions suggest that CCA countries with relatively lower level of financial development have scope to boost annual growth rates between 0.5-2.5 percent by reaching the level of financial development of frontier CCA countries.
Download or read book Regional Economic Outlook Middle East and Central Asia October 2023 written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2023-10-12 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: Across the Middle East and Central Asia, the combined effects of global headwinds, domestic challenges, and geopolitical risks weigh on economic momentum, and the outlook is highly uncertain. Growth is set to slow this year in the Middle East and North Africa region, driven by lower oil production, tight policy settings in emerging market and middle-income economies, the conflict in Sudan, and other country-specific factors. In the Caucasus and Central Asia, although migration, trade, and financial inflows following Russia’s war in Ukraine continue to support economic activity, growth is set to moderate slightly this year. Looking ahead, economic activity in the Middle East and North Africa region is expected to improve in 2024 and 2025 as some factors weighing on growth this year gradually dissipate, including the temporary oil production cuts. But growth is expected to remain subdued over the forecast horizon amid persistent structural hurdles. In the Caucasus and Central Asia, economic growth is projected to slow next year and over the medium term as the boost to activity from real and financial inflows from Russia gradually fades and deep-seated structural challenges remain unsolved. Inflation is broadly easing, in line with globally declining price pressures, although country-specific factors—including buoyant wage growth in some Caucasus and Central Asia countries—and climate-related events continue to make their mark. Despite some improvement since April, the balance of risks to the outlook remains on the downside. In this context, expediting structural reforms is crucial to boost growth and strengthen resilience, while tight monetary and fiscal policies remain essential in several economies to durably bring down inflation and ensure public debt sustainability.
Download or read book Republic of Kazakhstan written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2024-02-07 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: Growth is estimated to have reached 4.8 percent in 2023 and is projected to slow to 3.1 percent in 2024. Inflation declined to 9.8 percent in 2023, still well above the National Bank of Kazakhstan (NBK)’s target of 5 percent. Risks to the outlook are tilted to the downside. The state’s footprint in the economy remains large and structural reform implementation has been slow in recent years. Despite strong buffers, the economy needs to be better prepared for future shocks in both the short term (e.g., from war spillovers, inflation, and global economic and financial conditions) and the medium term (e.g., from geo-economic fragmentation, climate events, and global decarbonization).
Download or read book Republic of Armenia written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2023-12-14 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Republic of Armenia: Selected Issues
Download or read book Republic of Azerbaijan written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2024-02-07 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: Growth is moderating following a strong post-pandemic rebound, and inflation is easing. The near-term challenge is to resume fiscal consolidation following a temporary easing, and to ensure that inflation—which has recently returned to the target band—does not reignite amid external risks and domestic pressures. In the medium to long term, Azerbaijan’s biggest challenge is to reduce dependence on the hydrocarbon sector and advance private sector-led economic diversification.
Download or read book Republic of Kazakhstan written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2022-12-14 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Republic of Kazakhstan: Selected Issues
Download or read book Kyrgyz Republic written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2023-02-16 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Kyrgyz Republic: Selected Issues
Download or read book Kyrgyz Republic written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2024-03-04 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new trade and labor migration patterns that emerged since the start of Russia’s war in Ukraine have provided an unexpected boost to growth. Tax revenue increased considerably since 2021, public debt declined below 50 percent of GDP by end-2022, and inflation while still elevated has decelerated into the single digits in 2023. The authorities should take advantage of these generally favorable macroeconomic conditions to strengthen their policy framework and advance structural reforms on multiple fronts to build resilience, support higher and more inclusive growth, and mitigate the risks from heightened global uncertainty.
Download or read book Promoting Inclusive Growth in the Caucasus and Central Asia written by Ms.Mercedes Vera-Martín and published by International Monetary Fund. This book was released on 2019-05-15 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: CCA countries achieved gains in inclusiveness over the past 20 years as incomes increased and poverty, inequality, and unemployment declined. Most of the progress occurred before the 2008–09 global financial crisis. Since then, poverty rates have barely moved and, for oil importers, remain elevated.
Download or read book Good Jobs for Inclusive Growth in Central Asia and the South Caucasus written by and published by Asian Development Bank. This book was released on 2019-02-01 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study explores prospects for inclusive growth in the Central Asia and the South Caucasus region and highlights the central role played by the creation of good jobs. The study reviews economic performance in the region and discusses prospects through 2030, introducing two growth scenarios related to the adoption of structural reforms for creating good jobs and inclusive growth. It also highlights the importance of adopting a full policy reform scenario.
Download or read book The Caucasus and Central Asia written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2014-04-10 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: The countries in the Caucasus and Central Asia (CCA) have recorded significant macroeconomic achievements since independence. These countries have grown more rapidly-—on average by 7 percent over 1996–2011—-than those in many other regions of the world and poverty has declined. Inflation has come down sharply from high rates in the 1990s and interest rates have fallen. Financial sectors have deepened somewhat, as evidenced by higher deposits and lending. Fiscal policies were broadly successful in building buffers prior to the global crisis and those buffers were used effectively by many CCA countries to support growth and protect the most vulnerable as the crisis washed across the region. CCA oil and gas exporters have achieved significant improvements in living standards with the use of their energy wealth.
Download or read book Building Urban Resilience written by Abhas K. Jha and published by World Bank Publications. This book was released on 2013-03-01 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook is a resource for enhancing disaster resilience in urban areas. It summarizes the guiding principles, tools, and practices in key economic sectors that can facilitate incorporation of resilience concepts into decisions about infrastructure investments and urban management that are integral to reducing disaster and climate risks.
Download or read book Culture urban future written by UNESCO and published by UNESCO Publishing. This book was released on 2016-12-31 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Report presents a series of analyses and recommendations for fostering the role of culture for sustainable development. Drawing on a global survey implemented with nine regional partners and insights from scholars, NGOs and urban thinkers, the report offers a global overview of urban heritage safeguarding, conservation and management, as well as the promotion of cultural and creative industries, highlighting their role as resources for sustainable urban development. Report is intended as a policy framework document to support governments in the implementation of the 2030 Agenda for Sustainable Urban Development and the New Urban Agenda.
Download or read book Creating Livable Cities written by African Development Bank and published by Inter-American Development Bank. This book was released on 2019-10-08 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: The shift of people from rural areas to cities and urban towns in developing and emerging economies is one of the most profound demographic changes happening globally. Cities all over the world offer significant opportunities to transform human well-being, catalyze economic development, and serve as incubators for new ideas. Rapid urbanization is often linked to improved economic opportunities, better access to health and education services, and improved living conditions. However, underinvestment in infrastructure and services and weak urban governance, planning and financing frameworks can undermine urbanization’s potential to serve as the engine of green and inclusive growth and development.
Download or read book World Development Report 2010 written by World Bank and published by World Bank Publications. This book was released on 2009-11-06 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the crowded field of climate change reports, 'WDR 2010' uniquely: emphasizes development; takes an integrated look at adaptation and mitigation; highlights opportunities in the changing competitive landscape; and proposes policy solutions grounded in analytic work and in the context of the political economy of reform.
Download or read book The Least Developed Countries Report 2020 written by United Nations and published by . This book was released on 2021-01-06 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This series contains the decisions of the Court in both the English and French texts.
