Download or read book Republic of Equatorial Guinea written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2015-09-15 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2015 Article IV Consultation highlights that Equatorial Guinea’s recent economic performance has been weak, notwithstanding the high-quality infrastructure that has been built. The current account deficit has progressively increased to about 10 percent of GDP by 2014 as a result of lower exports from maturing hydrocarbon fields combined with high import levels associated with the public infrastructure program, although there is considerable uncertainty about this figure given very weak external sector statistics. The main near-term risk to the economic outlook is a slower-than-expected fiscal adjustment that could result in the depletion of fiscal buffers and accumulation of public debt. Moreover, an insufficient effort to address a weak business climate and attract foreign investment would impede diversification and potential nonhydrocarbon growth.
Download or read book Republic of Equatorial Guinea written by International Monetary Fund and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Republic of Equatorial Guinea written by International Monetary Fund and published by International Monetary Fund. This book was released on 2022-08-03 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic in 2020-21, and Bata explosions in 2021, struck oil-exporter Equatorial Guinea at a time when its economic vulnerabilities had already been aggravated by a prolonged period of depressed hydrocarbon prices, and seven consecutive years of decline in real GDP. The economy is slowly emerging from the ravages of the 2020-21 shocks, buoyed by higher international oil prices. However, substantial challenges remain: (i) surging food prices and banking sector vulnerabilities cloud the short term, while (ii) declining hydrocarbon productionand the implied decline in external reservesloom over the medium term, especially in light of lagging governance and diversification reform implementation.
Download or read book Republic of Equatorial Guinea written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2016-11-16 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2016 Article IV Consultation highlights that Equatorial Guinea’s overall real GDP growth has been weak in recent years averaging –0.5 percent from 2010–14, largely owing to a trend decline of the dominant hydrocarbon sector. Economic performance deteriorated substantially in the wake of the 2014 oil-price shock. In 2015, the pace of the contraction intensified, and economic activity declined by 7.4 percent. The near-term outlook is very challenging, given prospects for depressed energy prices and a continued decline in hydrocarbon production. Weak oil revenues and limited buffers will require further cuts to public investment, leading to a deep contraction of the large construction sector and public administration.
Download or read book Republic of Equatorial Guinea written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2024-02-07 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: Equatorial Guinea’s macroeconomic situation has deteriorated over the last decade due to a secular decline in oil production. In 2022, economic indicators improved somewhat. However, this recovery was short-lived, with the economy projected to fall back into recession in 2023. In the years ahead, the economy would contract further. Without strong policy responses, all the gains in per capita income achieved over the last two decades are expected to fully unravel by 2028. The three-year Extended Fund Facility (EFF) approved in 2019 to support the authorities’ diversification agenda expired at end-2022 without a single completed review. The authorities have nonetheless continued to implement reforms delayed under the program as well as the 2022 Article IV Consultation recommendations.
Download or read book Republic of Equatorial Guinea Article IV Consultation written by and published by . This book was released on 2005 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Guinea written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2016-07-29 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2016 Article IV Consultation highlights that Guinea’s economic performance over the past four years fell significantly short of the authorities’ ambitious projections. Economic growth averaged 1.8 percent during 2012–15, significantly below the performance of peers, and GDP per capita is estimated to have fallen, likely inducing an increase in poverty. The economy is recovering from the effects of the Ebola epidemic. Growth is projected to rebound to 3.7 percent in 2016, on the back of higher electricity provision from the Kaleta hydroelectric dam and a strong increase in bauxite production. The medium-term outlook is favorable, but continues to be clouded by downside risks.
Download or read book Papua New Guinea written by International Monetary Fund and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Papua New Guinea written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2015-11-18 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2015 Article IV Consultation highlights that Papua New Guinea (PNG) is facing strong headwinds from lower global commodity prices. Although the commencement of liquefied natural gas (LNG) production has boosted overall GDP growth in 2014–15, the slow growth of the nonresource sector calls for a renewed policy focus on inclusive growth in the post-LNG construction period. Risks to the outlook are increasingly skewed to the downside. Fiscal consolidation necessitated by weaker-than-anticipated revenue performance will dampen nonresource growth over the short run, and a weak global economy could further dampen external demand and commodity prices.
Download or read book Guinea 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for Guinea written by International Monetary and published by International Monetary Fund. This book was released on 2021-07-06 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the non-mining sector was severely impacted by the COVID-19 crisis, overall growth in Guinea remains strong, reaching 7 percent in 2020, driven by booming mining production. Inflation exceeded 12 percent as a result of COVID-related supply disruptions and the ongoing monetary and fiscal response. The already weak social indicators have deteriorated further.
Download or read book Republic of Equatorial Guinea written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2019-12-20 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper highlights Republic of Equatorial Guinea’s Request for an Extended Arrangement Under the Extended Fund Facility and Second Review Under the Staff-Monitored Program. The IMF-supported program aims at maintaining macroeconomic and financial stability, while improving social protection, fostering economic diversification, strengthening governance and fighting corruption. The Equatoguinean economy has been impacted by a sharp decline in oil prices and a secular decline in hydrocarbon output, which led to large macroeconomic imbalances and negative economic growth. Increasing transparency, improving governance and fighting corruption are critical to improve socio-economic outcomes. Structural reforms are expected to play a crucial role in supporting fiscal consolidation and improving growth prospects. The program comprises reforms to the business environment and other reforms to promote economic diversification and support the achievement of sustainable economic growth. Program implementation remains subject to some downside risks, including volatility in hydrocarbon prices, and Public Financial Management (PFM), governance and corruption vulnerabilities.
Download or read book Minerals Yearbook written by Mines Bureau and published by Government Printing Office. This book was released on 2018-04-19 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition of the U.S. Geological Survey (USGS) Minerals Yearbook discusses the performance of the worldwide minerals and materials industries during year 2013 and provides background information to assist in interpreting that performance. These annual reviews are designed to provide timely statistical data on mineral commodities in various countries. This volume covers data from Asia and the Pacific. Each report includes sections on government policies and programs, environmental issues, trade and production data, industry structure and ownership, commodity sector developments, infrastructure, and a summary outlook. Audience: Government employees and contractors, as well as businesses and employees, all working in mineral-related trades, especially with interests in statistics about mineral commodities overseas, will find this resource invaluable.
Download or read book Minerals Yearbook written by Mines Bureau and published by Minerals Yearbook: Volume 3: A. This book was released on 2018-04-19 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition of the U.S. Geological Survey (USGS) Minerals Yearbook discusses the performance of the worldwide minerals and materials industries during year 2013 and provides background information to assist in interpreting that performance. These annual reviews are designed to provide timely statistical data on mineral commodities in various countries. This volume covers data from Asia and the Pacific. Each report includes sections on government policies and programs, environmental issues, trade and production data, industry structure and ownership, commodity sector developments, infrastructure, and a summary outlook. Audience: Government employees and contractors, as well as businesses and employees, all working in mineral-related trades, especially with interests in statistics about mineral commodities overseas, will find this resource invaluable.
Download or read book Republic of Equatorial Guinea Request for Purchase Under the Rapid Financing Instrument Press Release Staff Report and Statement by the Executive Director written by International Monetary and published by International Monetary Fund. This book was released on 2021-09-27 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Already battered by a still unfolding COVID-19 pandemic, Equatorial Guinea was struck on March 7 by massive accidental explosions at a military compound in Bata, its largest city, that killed over 100 people and caused widespread damage to surrounding neighborhoods. These shocks have adversely impacted economic activity and weakened considerably the fiscal and external positions, relative to the EFF-supported program approved in December 2019, creating a substantial financing gap. With the EFF-supported program off-track, as governance reforms have taken longer than originally envisaged, it is not feasible to effectively respond to the humanitarian crisis within the EFF framework. Bringing the program back on track would take time as the authorities continue to work on outstanding structural measures due to capacity constraints in the pandemic context and need for consensus building. Support provided under the RFI, buttressed by appropriate prior actions on governance and safeguards, would create the fiscal space necessary for the authorities to meet the immediate humanitarian needs, and reinvigorate engagement under the EFF-supported program.
Download or read book Democratic Republic of the Congo written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2015-10-13 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2015 Article IV Consultation highlights that the Democratic Republic of the Congo’s macroeconomic performance remained strong through the first half of 2015 despite a difficult external and domestic environment. Real GDP growth in 2014 is estimated at 9.2 percent, driven by copper production and the service sector. The medium-term outlook is favorable but subject to downside risks. Real GDP growth is projected to remain strong at 9.2 percent in 2015—among the highest rates in the world—and average 8.4 percent in 2016–17 before stabilizing at about 6 percent in 2018–20.
Download or read book Republic of Equatorial Guinea written by International Monetary Fund and published by International Monetary Fund. This book was released on 2013-03-28 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2012 Article IV Consultation highlights Equatorial Guinea’s economic developments and policies. The IMF report focuses on setting priorities that include strengthening fiscal institutions, developing public services, and enhancing governance to push the economic growth. The hydrocarbon sector has continued to be the main driver of the economy, accounting for about three-quarters of estimated GDP. It suggests that a commitment to regular publication and international quality standards would stimulate long-delayed improvements. The prospect of falling hydrocarbon revenues adds urgency to the case for a medium-term fiscal framework.
Download or read book The Licit Life of Capitalism written by Hannah Appel and published by Duke University Press. This book was released on 2019-12-13 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Licit Life of Capitalism is both an account of a specific capitalist project—U.S. oil companies working off the shores of Equatorial Guinea—and a sweeping theorization of more general forms and processes that facilitate diverse capitalist projects around the world. Hannah Appel draws on extensive fieldwork with managers and rig workers, lawyers and bureaucrats, the expat wives of American oil executives and the Equatoguinean women who work in their homes, to turn conventional critiques of capitalism on their head, arguing that market practices do not merely exacerbate inequality; they are made by it. People and places differentially valued by gender, race, and colonial histories are the terrain on which the rules of capitalist economy are built. Appel shows how the corporate form and the contract, offshore rigs and economic theory are the assemblages of liberalism and race, expertise and gender, technology and domesticity that enable the licit life of capitalism—practices that are legally sanctioned, widely replicated, and ordinary, at the same time as they are messy, contested, and, arguably, indefensible.
