Download or read book Republic of Uzbekistan 2021 Article IV Consultation Press Release and Staff Report written by International Monetary and published by International Monetary Fund. This book was released on 2021-04-26 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Uzbekistan embarked on an ambitious reform path in 2017, starting to liberalize its economy after years of state control. Incomes are still relatively low compared to other emerging economies. Uzbekistan entered the COVID-19 crisis with relatively strong macro-economic fundamentals.
Download or read book Republic of Uzbekistan written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Republic of Uzbekistan 2022 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for the Republic of Uzbekistan written by International Monetary and published by International Monetary Fund. This book was released on 2022-06-22 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Uzbekistan embarked on an ambitious reform path in 2017, starting to liberalize its economy after years of state control. Incomes are still relatively low compared to other emerging economies and the role of the state is still large. Uzbekistan weathered the pandemic relatively well. Strong fundamentals, ample policy buffers, and high gold prices allowed the authorities to take strong actions to mitigate the impact of the pandemic and growth accelerated to 7.4 percent in 2021.
Download or read book Kyrgyz Republic 2021 Article IV Consultation Press Release and Staff Report written by International Monetary and published by International Monetary Fund. This book was released on 2021-08-02 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Kyrgyz economy is highly dependent on remittances and foreign aid and does not have access to international capital markets. Inequality is relatively low, but poverty is widespread. The COVID crisis led to a sharp recession with output contracting by 8.6 percent in 2020, public debt rising by 16.5 percent of GDP to 68 percent, and the som depreciating by 19 percent against the US$. Under the assumption that the global pandemic begins to decisively recede this year, a rebound in growth is expected in 2021–22. However, significant uncertainty surrounds the baseline outlook and the recovery could be delayed if downside risks materialize. In the medium to long term, the main challenge is to create jobs for about 65,000 new jobseekers annually and to reduce labor out-migration. This will require deep structural reforms to transform the economy from a reliance on remittances to more diversified and private sector-led growth that is underpinned by higher investment and exports.
Download or read book Republic of Uzbekistan written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2018-05-11 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2018 Article IV Consultation highlights that Uzbekistan’s external position remains strong. External shocks, which began in 2014, lowered exports, commodity prices, and remittances and contributed to a decline in growth from about 8 percent to 5 percent in 2017. Growth of domestic employment remained below one percent. A loosening of fiscal and monetary policies, along with price and foreign exchange liberalization, caused inflation to pick up in late 2017 and was close to 20 percent in early 2018. International reserves were equivalent to 19 months of imports of goods and services at end-2017 and debt is low. GDP is projected to expand by about 5 percent in 2018–19, but domestic job creation will continue to lag.
Download or read book Republic of Uzbekistan written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2019-05-09 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation highlights that given its bulging working-age population, creating more and better jobs is the country’s overarching priority. Uzbekistan has already implemented a first wave of important economic reforms, including foreign exchange liberalization, tax reform, and a major upgrade in statistics. Faced with a vast structural reform agenda, the authorities want to prioritize reforms that address the economy’s most damaging distortions first. The main short-term macroeconomic stability challenge is to prevent a credit boom that could generate excessive external deficits and aggravate inflation pressures. A tight monetary stance and moderate fiscal deficits need to be maintained to support macroeconomic stability. Credit growth will need to slow significantly to assure the economy’s external and internal balance. The sustainable development goals are anchoring the country’s inclusive growth agenda, especially on education, health, public infrastructure, and financial inclusion. Moreover, the authorities are redesigning labor policies from scratch to help unskilled and other disadvantaged workers find more and better jobs.
Download or read book Republic of Azerbaijan 2021 Article IV Consultation Press Release and Staff Report written by International Monetary and published by International Monetary Fund. This book was released on 2021-12-22 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Azerbaijan faced unprecedented challenges in 2020. The combined COVID-19 and oil price shocks pushed the economy into recession. A sizeable relief package helped cushion the economic impact from this shock, and the economy has started to recover. Yet the medium-term outlook remains subdued. The long-term fiscal position is unsustainable as oil resources are expected to run out by mid-century. The authorities have laid out strategic goals of accelerated yet sustainable socio-economic development over the next decade and are developing policy plans to that end.
Download or read book Republic of Azerbaijan written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Republic of Tajikistan 2021 Article IV Consultation Press Release Staff Report and Statement by Executive Director for the Republic of Tajikistan written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-18 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: With a strong recovery in train, the authorities are gradually withdrawing the policy stimulus released during the pandemic. Although debt is sustainable, there is a high risk of debt distress. At the same time, financing the Roghun dam project while implementing tax reform remains a key challenge. The financial sector has stabilized, but intermediation remains low. Risks to the outlook are tilted to the downside due to uncertainty on the pandemic and regional spillovers.
Download or read book Slovak Republic 2021 Article IV Consultation Press Release Staff Report written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-21 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Slovak Republic faced the pandemic from a position of strength with fiscal space and comfortable banking sector buffers. Effective policy support, through measures aimed at preserving jobs, providing liquidity support, and ensuring credit supply, have limited the economic fallout. Output is expected to reach pre-crisis level before the end of 2021, but uncertainty is high.
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Download or read book Republic of Kazakhstan 2021 Article IV Consultation Press Release Staff Report Staff Statement and Statement by the Executive Director for Kazakhstan written by International Monetary and published by International Monetary Fund. This book was released on 2022-04-11 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Activity returned to its pre-COVID level in 2021. Inflation remains well above the NBK’s 4–6 percent target band, and spillovers from sanctions on Russia will exacerbate price pressures and weaken economic growth in 2022. Kazakhstan benefits from strong fiscal and external buffers but risks to the outlook are elevated due to the uncertain impact on Kazakhstan of the sanctions on Russia and heightened domestic tensions since the January social unrest episode. In the medium term, non-oil growth under the baseline is expected to converge to about 4 percent. Sustainable growth will require greater economic diversification. Climate-related challenges are acute for Kazakhstan given its outsized hydrocarbon sector, high per-capita greenhouse gas emissions, and low domestic energy prices.
Download or read book Republic of Uzbekistan written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2019-07 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: Given its bulging working-age population, creating more and better jobs is the country’s overarching priority. Uzbekistan has already implemented a first wave of important economic reforms, including foreign exchange liberalization, tax reform, and a major upgrade in statistics. Faced with a vast structural reform agenda, the authorities want to prioritize reforms that address the economy’s most damaging distortions first. The main short-term macroeconomic stability challenge is to prevent a credit boom that could generate excessive external deficits and aggravate inflation pressures.
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 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Kyrgyz Republic is facing significant policy challenges stemming from multiple shocks: the anticipated spillovers from the projected contraction in Russia; the global slowdown; global financial tightening; and still-high food and energy prices. Strong output growth in 2022 was a positive surprise, but elevated inflation remains persistent, the current account and fiscal deficits have widened, international reserves have declined, and poverty has increased. In view of heightened uncertainty, policy buffers that were eroded in addressing the pandemic need to be rebuilt.
Download or read book Republic of Armenia 2021 Article IV Consultation Fourth and Fifth Reviews Under the Stand By Arrangement and Request for Waiver of Nonobservance of Performance Criterion and Monetary Policy Consultation Clause Press Release Staff Report and Statement by the Executive Director for the Republic of Armenia written by International Monetary and published by International Monetary Fund. This book was released on 2021-12-21 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: Armenia has commenced a robust recovery from the deep 2020 recession, benefiting from strong policies and the lifting of the political uncertainty after the elections in June. A gradual but uneven improvement in the pandemic situation, pent-up demand, and the strengthening of public and private investment are expected to drive 2022 growth. Robust growth is expected over the medium term. Risks. Risks are relatively balanced, although uncertainty remains high. Strong reform implementation and accelerating vaccinations could improve the outlook, while risks of a protracted pandemic, renewed geopolitical tensions, a slowdown in major trading partners, and stress from global financial volatility and/or trade tensions could hamper the recovery.
Download or read book Republic of Tajikistan written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2023-03-28 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strong growth continued in 2022 with minimal disruption from the war in Ukraine, while strong financial inflows supported domestic demand and liquidity. Although negative spillovers from the war have not materialized, it remains unclear to what extent Tajikistan will continue to be relatively unaffected by weaker economic activity in Russia.
Download or read book Republic of Uzbekistan 2006 Article IV Consultation Staff Report Public Information Notice on the Executive Board Discussion and Statement by the Executive Director for the Republic of Uzbekistan written by International Monetary Fund and published by . This book was released on 2007-03-29 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt:
