Download or read book South Africa 2012 Article IV Consultation Staff Report Informational Annex Debt Sustainability Analysis Staff Statement Public Information Notice written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-08-23 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Download or read book South Africa written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-08-17 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Staff Report for the 2012 Article IV Consultation states that the policy pursued by South Africa has resulted in domestic and external stability, despite prevailing adverse circumstances. Given the volatile situation in the world economy as a whole—and Europe in particular—countercyclical monetary policy should be pursued, as fiscal revenue is likely to decline further. The report advocates utmost vigil from the South African Reserve Bank (SARB) to provide the much needed impetus to the economy by instilling investor confidence and a tight leash on future inflationary trends.
Download or read book Financial Regulation in Africa written by Dr Iwa Salami and published by Ashgate Publishing, Ltd.. This book was released on 2012-09-01 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the global financial crisis, there has been a worldwide search for alternative investment opportunities, away from advanced markets. The African continent is now one of the fastest-growing economic regions in the world and represents a viable destination for foreign direct and portfolio investment. This book, which is the first comprehensive analysis of financial integration and regulation in Africa, fills a huge gap in the literature on financial regulation and would constitute an invaluable source of information to policy makers, investors, researchers and students of financial regulation from an emerging and frontier markets perspective. It considers how financial integration can facilitate African financial markets to achieve their full potential and provides a comparative study with the EU framework for financial integration and regulation. It assesses the implementation of effective and regional domestic infrastructures and how these can be adapted to suit the African context. The book also provides an assessment of government policies towards the integration of financial regulation in keeping with the regional agenda of the African Union (AU) and the African Economic Community (AEC).
Download or read book South Africa 2005 Article IV Consultation written by Benedicte Vibe Christensen and published by . This book was released on 2005 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Guinea Bissau written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2013-07-03 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: The staff report for the 2013 Article IV Consultation on Guinea-Bissau highlights the economic development and policies. Guinea-Bissau’s medium-term challenges are to diversify its economy, reduce widespread poverty, and generate employment opportunities. Recurrent internal conflicts have negatively affected economic growth, poverty reduction, and social advancement in Guinea-Bissau. The economic performance will depend critically on establishing a visibly inclusive political process while moving toward demobilization, and professionalization of the military forces. In the baseline, uncertainties about implementation of those conditions suggest scope for only a slow and weak recovery, leaving real per capita incomes below 2011 levels until at least 2016.
Download or read book United Republic of Tanzania written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-05-11 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tanzania has weathered the adverse shocks of recent years relatively well. Revenue collection for 2010–11 has fallen short of targets, constraining public spending and contributing to the emergence of arrears. Monetary policy has become less accommodative. The near-term economic outlook is subject to a higher-than-average degree of uncertainty with a rising risk of donor aid shortfalls and higher international fuel prices. Over the medium term, growth could gradually rise to 71⁄2 percent––thanks to large investments in mining and continued growth in the non-mining economy.
Download or read book Democratic Republic of S o Tom and Pr ncipe written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2014-01-06 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2013 Article IV Consultation highlights that after significant real economic growth volatility and high inflation through 2009, growth in Democratic Republic of São Tomé and Príncipe has become more stable and inflation has reached record low levels. Real economic growth slowed to 4 percent in 2012, reflecting a scaling back of project financing and foreign direct investment as many of São Tomé and Príncipe’s key partners were hard hit by the global economic slowdown. Growth is projected to remain unchanged at 4 percent in 2013 in light of lingering uncertainties stemming from the challenging external environment.
Download or read book Lebanon written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2019-10-17 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation with Lebanon highlights that Lebanon’s economic position continues to be very difficult, with very low growth, high public debt and large twin deficits. While financial stability has been maintained, deposit inflows, critical to finance the budget and external deficits, slowed down during the past year, reducing the authorities’ room for manoeuvre. The new government has taken some important policy steps to start the needed policy adjustment, which could help raise confidence among investors and donors. The highest priority is the implementation of a sustainable fiscal adjustment that will bend down the path of the public debt-to-gross domestic product ratio through a combination of revenue and expenditure measures. This needs to be complemented by structural reforms and concessionally financed investment to raise Lebanon’s growth potential and help external adjustment, as well as policies to build further buffers in Lebanon’s financial sector. Structural reforms should prioritize reforming the electricity sector, removing impediments to and lowering the cost of doing business, as well as improving governance and reducing corruption.
Download or read book People s Republic of China written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2013-07-17 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: This staff report on People’s Republic of China 2013 Article IV Consultation highlights macroeconomic developments and outlook. China has maintained robust growth since the global crisis, but the heavy reliance on credit and investment to sustain activity is raising vulnerabilities. The consequence is a steady build-up of leverage that is eroding the strength of the financial sector, local government, and corporate balance sheets. This is most apparent in the continued rapid expansion in total social financing. The development of nontraditional finance marks a shift to more market-based intermediation, and the migration of activity to less-regulated parts of the system poses risks to financial stability.
Download or read book Botswana written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2020-03-27 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation focuses on Botswana 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. Gross domestic product growth is forecasted to pick up to 4.4 percent in 2020 and 5.6 percent in 2021 as the diamond industry recovers somewhat, and a new copper mine comes on stream. Growth will ease back to around 4 percent over the medium term. Risks to the outlook include faster-than-anticipated slowdown in key trading partners, shifts in consumer preferences to synthetic diamonds, and climate shocks. The size and pace of the planned adjustment are consistent with Botswana’s fiscal space, but the composition of the adjustment should protect efficient capital and social spending. Furthermore, given that buffers are being eroded, it is critical that consolidation starts as envisaged in FY2020, as it would help start addressing external imbalances and contribute to a gradual rebuilding of buffers over the medium term. In order to strengthen the monetary transmission mechanism and deepen the domestic financial market, there is a need to develop the secondary market for government securities, leverage Fintech, facilitate the attachment of collateral, and improve credit information.
Download or read book Vietnam written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2019-07-16 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation with Vietnam highlights that gradual fiscal consolidation, strict limits on government guarantees and robust growth in recent years have led to declining government debt, expected to continue under current policies. But while there is some fiscal space, fiscal needs are large, for infrastructure, social spending and to deal with population aging. The tightening of credit growth continued in 2018; however, liquidity remained ample, aided by the strong balance of payments and tight fiscal policies. The State Bank of Vietnam has initiated plans to modernize its monetary framework with IMF technical support. The authorities’ efforts to improve economic institutions and governance continue and the fight against grand corruption has resulted in significant sentences in recent high-profile cases. Improvements in transparency and statistical systems are underway, with support from the IMF and the Financial Action Task Force’s Asia Pacific Group.
Download or read book An Opportunity for a Different Peru written by Marcelo Giugale and published by World Bank Publications. This book was released on 2007 with total page 860 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the first time in the republican history of Peru, the presidential transition takes place in democracy, social peace, fast economic growth and favorable world markets. In other words, there has never been a better chance to build a different Peru - a richer country, more equal and governable. There are multiple ways to achieve that goal. New reforms must stem from a widespread and participatory debate, one of a common vision conceived for and by Peruvians. This book aims at making a technical and independent contribution to such debate; it summarizes the knowledge available about the challenges to be faced by the new administration. The study does not recommend silver bullets, but suggests policy options. It is based on the analysis of the current reality and in six decades of relationships with Peru, in which the Bank has implemented more than 100 projects and prepared more than 500 technical reports covering the wide range of development topics. When necessary, the study provides lessons that the Bank has learned elsewhere. The study provides a conceptual framework to the analysis of the country's 34 economic sectors and the two historical perspectives behind them. In doing so, it offers a comprehensive reform agenda that sheds light on possible priorities and courses of action.
Download or read book Climate Change 2014 written by Groupe d'experts intergouvernemental sur l'évolution du climat and published by . This book was released on 2015 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Botswana written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2014-07-17 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: KEY ISSUES Setting: The seeds of good governance and prudent macroeconomic and natural resources management planted by the Botswana authorities paid off with an impressive increase in the GDP per capita during the last three decades. However, as in many other small middle-income countries (SMICs) in the region, trend growth has softened in recent years, reflecting the decline in the contribution of total factor productivity (TFP) to growth which calls for policies to reduce structural bottlenecks in the economy. Current conditions and outlook: Botswana’s economy remains broadly internally and externally balanced and the authorities’ near-term macroeconomic policy mix is appropriate. Output growth is expected to slowdown in 2014 reflecting partly weaknesses in the non-mineral sector, while inflation is expected to remain within the Bank of Botswana’s (BoB) medium-term objective range of 3-6 percent. Fiscal policy: Staff supports the FY2014/15 budget, which reins in unproductive current spending, while protecting growth-promoting capital spending. Achieving medium-term fiscal consolidation objectives adopted in the budget, would require articulating concrete measures to reduce the wage bill relative to GDP and broaden the revenue base. Financial sector development: Botswana’s banking system is well-capitalized and profitable with relatively low nonperforming loans. Although from a low base, credit growth to households continues to expand at a high rate, which poses potential vulnerabilities for the financial sector. Thus, staff recommends that macro prudential measures be considered to temper the rate of growth of household borrowing. In this context, staff welcomes the government’s emphasis on enhancing greater financial deepening and inclusion, while preserving the stability of the financial system. Reinvigorating growth: Returning to an era of strong growth and accelerating Botswana’s convergence to higher income levels would require policies to reinvigorate TFP growth. These include improving the quality of public spending, notably in public investment projects and education to ensure the transformation of diamond wealth into sustainable assets. The authorities’ efforts to improve the country’s competitiveness, including through reducing the regulatory burden on firms, is also welcomed. Past advice: There is broad agreement between the Fund and the authorities on the macroeconomic policy stance and structural reform policy priorities. Consistent with staff’s advice, the FY 2014/15 budget outlined a framework to reduce the burden of loss- making state-owned enterprises on fiscal resources and propel them toward commercial viability. Furthermore, the budget includes medium-term projections of government accounts, as recommended by staff during past consultations. However, progress towards reducing the wage bill relative to GDP remains modest.
Download or read book Solomon Islands written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2018-03-05 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2017 Article IV Consultation highlights that the economy of the Solomon Islands grew by 3.5 percent in 2016 driven by a peak in the forestry sector. Growth remained solid in 2017 and is projected at 3.0 for 2018, buoyed by infrastructure spending, fisheries and agriculture, although logging production is slowing down. Inflation is contained at an annual rate of just 1.6 percent in October 2017. The current account deficit has widened a little but international reserves levels are comfortable. The fiscal deficit is expected to have reached 4.0 percent of GDP in 2017 and to widen further in 2018. The risks to the economy are on the downside with the weakening fiscal position heightening vulnerability to shocks.
Download or read book PEFA Public Financial Management and Good Governance written by Jens Kromann Kristensen and published by World Bank Publications. This book was released on 2019-11-24 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This project, based on the Public Expenditure and Financial Accountability (PEFA) data set, researched how PEFA can be used to shape policy development in public financial management (PFM) and other major relevant policy areas such as anticorruption, revenue mobilization, political economy analysis, and fragile states. The report explores what shapes the PFM system in low- and middle-income countries by examining the relationship between political institutions and the quality of the PFM system. Although the report finds some evidence that multiple political parties in control of the legislature is associated with better PFM performance, the report finds the need to further refine and test the theories on the relationship between political institutions and PFM. The report addresses the question of the outcomes of PFM systems, distinguishing between fragile and nonfragile states. It finds that better PFM performance is associated with more reliable budgets in terms of expenditure composition in fragile states, but not aggregate budget credibility. Moreover, in contrast to existing studies, it finds no evidence that PFM quality matters for deficit and debt ratios, irrespective of whether a country is fragile or not. The report also explores the relationship between perceptions of corruption and PFM performance. It finds strong evidence of a relationship between better PFM performance and improvements in perceptions of corruption. It also finds that PFM reforms associated with better controls have a stronger relationship with improvements in perceptions of corruption compared to PFM reforms associated with more transparency. The last chapter looks at the relationship between PEFA indicators for revenue administration and domestic resource mobilization. It focuses on the credible use of penalties for noncompliance as a proxy for the type of political commitment required to improve tax performance. The analysis shows that countries that credibly enforce penalties for noncompliance collect more taxes on average.
Download or read book Social Health Insurance for Developing Nations written by R. Paul Shaw and published by World Bank Publications. This book was released on 2007-01-01 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Specialist groups have often advised health ministers and other decision makers in developing countries on the use of social health insurance (SHI) as a way of mobilizing revenue for health, reforming health sector performance, and providing universal coverage. This book reviews the specific design and implementation challenges facing SHI in low- and middle-income countries and presents case studies on Ghana, Kenya, Philippines, Colombia, and Thailand.
