Botswana 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Botswana
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Botswana 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Botswana
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2021-06-02
Botswana 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Botswana written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-02 with Business & Economics categories.
Botswana entered the COVID-19 crisis with larger buffers than most countries, but significantly less than in the past. The country was contending with structural challenges, persistent negative external shocks and delays in adjustment that had already caused a significant weakening of international reserves coverage and the fiscal position amid high unemployment. The pandemic exacerbated these challenges causing a sharp GDP contraction, among the strongest in SSA and a widening in the current account deficit. Foreign exchange reserves dropped further, though still remaining well above adequate levels. The fiscal deficit widened significantly as the government sought to counter the economic impact of the COVID-19 crisis, and implemented a sizeable public wage increase agreed in 2019. The deficit was financed partially by drawing down on the Government Investment Account.
Botswana
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2020-03-27
Botswana written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-03-27 with Business & Economics categories.
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.
Botswana
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2022-07-27
Botswana written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-07-27 with Business & Economics categories.
As of end-2021, Botswana had recovered to its pre-crisis output level thanks to a strong rebound in demand for diamonds, a successful vaccination campaign, and policy support. Fiscal and current account deficits both narrowed sharply, and foreign reserves stabilized but buffers are yet to be fully rebuilt. Inflation exceeded the central bank’s medium-term objective range, while unemployment rose close to record highs. Growth in 2022 and beyond is expected to be around potential, while fiscal and external positions are projected to strengthen with more favorable terms of trade and strong fiscal consolidation. Risks to the outlook are associated with the war in Ukraine, the pandemic, and the implementation of fiscal consolidation and economic diversification plans.
Botswana
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2023-08-31
Botswana written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-31 with Business & Economics categories.
Growth is expected to slow in 2023 due to a projected decline in diamond production, with the weaker global environment likely to depress other exports. Inflation has fallen since August 2022, returning to the central bank’s objective range. The authorities plan a fiscal expansion in FY2023 followed by two years of substantial fiscal adjustment to reach a small fiscal surplus by FY2025, but implementation risks are elevated. The external position should soften over the medium term, with FX reserves stabilizing at 51⁄2 months of imports. The financial sector is broadly sound and stable.
Vanuatu
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2019-06-13
Vanuatu written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-13 with Business & Economics categories.
Four years after Cyclone Pam struck Vanuatu causing extensive damages, reconstruction is near completion with full recovery in sight. The authorities are now focused on implementing their broader development plans that were slowed by the rebuilding process, which will require fiscal discipline and reforms to maintain debt sustainability. The authorities should continue their constructive engagement with development partners for technical assistance, capacity development, and concessional and grant-based funding. In parallel continuing to reform and strengthen the governance of institutions and removing vulnerabilities to corruption will be important.
Democratic Republic Of Timor Leste
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2024-02-27
Democratic Republic Of Timor Leste written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-02-27 with Business & Economics categories.
Timor-Leste has made impressive progress since independence in 2002 but remains a fragile post-conflict nation with pressing development needs. With oil and gas production having recently come to a halt, progress on diversifying the economy and developing the private sector is urgently needed. Fiscal deficits are financed by the country’s considerable Petroleum Fund savings, but regular large withdrawals are expected to lead to its full depletion by the end of the 2030s. A new coalition government—formed following parliamentary elections in May 2023—targets higher growth and achieving fiscal sustainability.
Tunisia
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Author : International Monetary Fund. Middle East and Central Asia Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2021-02-26
Tunisia written by International Monetary Fund. Middle East and Central Asia Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-02-26 with Business & Economics categories.
The pandemic aggravated Tunisia’s long-standing vulnerabilities stemming from persistent fiscal and external imbalances, rising debt, and contingent liabilities from inefficient state-owned enterprises. The crisis is expected to induce the largest contraction in real GDP since independence. The authorities’ targeted response together with higher outlays on wages widened the fiscal deficit. A second Covid-19 wave is underway. The authorities are securing 500,000 doses to start a first campaign of vaccinations in February and are aiming to secure more doses to vaccinate half of the population starting in April–May. Staff expects GDP growth to rebound modestly in 2021, but it could take years before activity returns to pre-crisis levels, especially if large imbalances were not addressed and key reforms delayed. Downside risks dominate and recent protests highlight the level of social tensions, aggravated by Covid-19 restrictions, and particularly among the youth.
Kingdom Of Eswatini
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2023-05-05
Kingdom Of Eswatini written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-05-05 with Business & Economics categories.
Eswatini is at an important juncture as the authorities seek to address long-standing macroeconomic challenges in a shock-prone environment. While Eswatini has endured the pandemic and successive shocks from international commodity prices, fiscal and external buffers are low. Addressing long-standing macroeconomic imbalances—stemming mainly from fiscal overruns—remains a critical priority. Government efforts in this area have already begun but will need to be sustained over the medium-term. In tandem, shifting from a state-led to a private sector and export-led growth model will be essential to achieve higher and sustained levels of inclusive growth necessary for poverty reduction. Focused efforts to address the underlying causes of recent civil unrest, together with concerted efforts to tackle gaps in governance, are also needed.
Malaysia
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2024-03-10
Malaysia written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-10 with Business & Economics categories.
Malaysia’s growth momentum has slowed but remains resilient to external headwinds. While monetary policy has paused its tightening cycle, fiscal policy is consolidating, and the ringgit had been under pressure through most of 2023. The government’s commitment to the reform priorities outlined in its national strategic plans is yet to fully materialize, with the economy’s path to high-income status hanging in the balance.
Where Credit Is Due
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Author : Gregory Smith
language : en
Publisher: Hurst Publishers
Release Date : 2021-09-15
Where Credit Is Due written by Gregory Smith and has been published by Hurst Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-15 with Business & Economics categories.
Borrowing is a crucial source of financing for governments all over the world. If they get it wrong, then debt crises can bring progress to a halt. But if it’s done right, investment happens and conditions improve. African countries are seeking calmer capital, to raise living standards and give their economies a competitive edge. The African debt landscape has changed radically in the first two decades of the twenty-first century. Since the clean slate of extensive debt relief, states have sought new borrowing opportunities from international capital markets and emerging global powers like China. The new debt composition has increased risk, exacerbated by the coronavirus pandemic: richer countries borrowed at rock-bottom interest rates, while Africa faced an expensive jump in indebtedness. The escalating debt burden has provoked calls by the G20 for suspension of debt payments. But Africa’s debt today is highly complex, and owed to a wider range of lenders. A new approach is needed, and could turn crisis into opportunity. Urgent action by both lenders and borrowers can reduce risk, while carefully preserving market access; and smart deployment of private finance can provide the scale of investment needed to achieve development goals and tackle the climate emergency.