Classification Of Low Income Countries For The Purpose Of Debt Limits In Fund Supported Programs 2011 Update

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Classification Of Low Income Countries For The Purpose Of Debt Limits In Fund Supported Programs 2011 Update

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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2011-08-12

Classification Of Low Income Countries For The Purpose Of Debt Limits In Fund Supported Programs 2011 Update written by International Monetary Fund. Strategy, Policy, & Review Department 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 2011-08-12 with Business & Economics categories.

This short paper informs the Executive Board of staff’s assessment of macroeconomic and public financial management capacity (henceforth “capacity”) in PRGT-eligible countries (henceforth “low-income countries”) with Fund-supported programs for the purpose of setting debt limits. Capacity plays an important role in the framework for debt limits. This framework includes a menu of options for concessionality requirements to reflect the diversity of situations in low-income countries (LICs). Eligibility for a particular option is related to an assessment of debt vulnerabilities and capacity.

Public Debt Vulnerabilities In Low Income Countries The Evolving Landscape

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-09-11

Public Debt Vulnerabilities In Low Income Countries The Evolving Landscape written by International Monetary Fund 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 2015-09-11 with Business & Economics categories.

This is the first joint IMF/World Bank report on public debt vulnerabilities in low income countries (LICs). It examines debt-related developments and their underlying causes since the onset of the global financial crisis. The findings will inform the upcoming review of the IMF/WB debt sustainability framework for LICs. Over this period, improved macroeconomic performance in LICs, combined with HIPC/MDRI debt relief and high demand for commodities, contributed to improved LIC creditworthiness. At the same time, new borrowing opportunities emerged as a result of the accommodative liquidity conditions in international capital markets, the deepening of domestic financial markets for some LICs, and the growing lending activities of non-Paris Club countries. These new financing possibilities helped mitigate the decline in Paris Club lending to LICs and have been associated with a shift toward greater reliance on non-concessional credit. The changing financing landscape has been most significant for frontier LICs.

Liberia

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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2012-12-21

Liberia 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 2012-12-21 with Business & Economics categories.

The 2012 Article IV Consultation with Liberia discusses the economic developments and policies of the country. Liberia recorded strong macroeconomic performance under the three-year Extended Credit Facility (ECF) Arrangement, but poverty continued to be pervasive. The short- to medium-term outlook has remained favorable, although subject to considerable risks. Following resumption of iron ore exports in 2011, real GDP growth is estimated at 9 percent in 2012, supported by strong growth in the mining sector and expansionary fiscal policy for infrastructure investment. IMF staff supports the authorities’ request for a successor arrangement under the ECF.

Review Of The Policy On Debt Limits In Fund Supported Programs

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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2013-03-17

Review Of The Policy On Debt Limits In Fund Supported Programs written by International Monetary Fund. Strategy, Policy, & Review Department 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 2013-03-17 with Business & Economics categories.

This review examines the experience with the policy on debt limits in Fund-supported programs across the membership and proposes possible reforms to strengthen the policy. The policy was last reformed in 2009 with a view to adapting it to the changing circumstances in low-income countries (LICs). Given its primary focus on LICs, the reform left the policy applying to the rest of the membership broadly unchanged. The Fund’s debt limits policy has been in place since the 1960s. From the policy’s inception, concessional flows have been excluded from debt limits under the presumption that such financing was critical for LICs and posed only limited risks to debt sustainability. Over time, the exclusion of concessional flows has led to a bifurcation in the policy, with one branch focusing on members to whom concessional financing is normally available, and the other on those to whom it is not—a distinction which in practical terms has involved differentiating between LICs and non-LICs.

Guidance Note For Fund Staff On The Treatment And Use Of Sdr Allocations

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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2009-08-28

Guidance Note For Fund Staff On The Treatment And Use Of Sdr Allocations written by International Monetary Fund. Strategy, Policy, & Review Department 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 2009-08-28 with Business & Economics categories.

Against the backdrop of the global financial crisis, the IMF has decided to implement a US$250 billion general allocation of special drawing rights (SDRs). In addition, the Fourth Amendment of the Fund’s Articles of Agreement has recently become effective, and will make available to SDR Department participants a special allocation of up to an additional SDR 21.5 billion (US$33 billion). Nearly US$115 billion of these combined allocations will go to emerging market and developing countries, including about US$20 billion to low-income countries (LICs), thereby providing an important boost to the reserves of countries with the greatest needs.

Senegal

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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2015-01-14

Senegal 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 2015-01-14 with Business & Economics categories.

EXECUTIVE SUMMARY Article IV issues. The government is committed to implementing the “Plan Sénégal Emergent” (PSE), which contains valid diagnostics and policies to boost growth and accelerate poverty reduction. GDP growth is projected to rise from less than 4 percent in recent years to 4.5 percent in 2014. Inflation remains low. Growth can potentially reach 7 percent by 2019 if PSE- related reforms are consistently and rapidly implemented. The authorities believe this growth rate will be achieved two years earlier. The impact of Ebola on growth will be limited in 2014 but can become substantial in 2015 should the epidemic spread in the region. Fiscal stance. The fiscal outlook has improved owing to stronger revenue performance and expenditure control, and the overall deficit is expected to fall to about 5 percent of GDP in 2014. The 2015 budget targets a further reduction in the deficit to 4.7 percent of GDP, less ambitious than the 4.0 percent of GDP recommended by staff. However, the authorities expect to limit the deficit close to the level recommended by staff by holding back appropriations for new public investment projects until feasibility studies are ready. Staff and authorities agreed that Ebola-related shocks could add 0.3 percent of GDP to the deficit in 2015. The authorities remain committed to bringing the fiscal deficit in line with the WAEMU target of 3 percent of GDP in the medium term. Structural reforms. The PSE offers an achievable development strategy, including the right mix of private investment to be crowded in by public investment in both human capital and infrastructure. However, unlocking private investment, including FDI, requires speeding up reforms to the business climate and improving public sector governance. Frontloading public investment without implementing the necessary structural reforms may jeopardize fiscal targets and debt sustainability while failing to raise growth from its sub-par trend. Program implementation. Performance under the PSI-supported program has been satisfactory with end-June 2014 program targets met except for a minor breach of the non- concessional borrowing ceiling due to weak debt management. This borrowing does not materially affect debt sustainability, and debt management weaknesses are being addressed. Staff recommends completion of the eighth PSI review and proposes a waiver of nonobservance of the assessment criterion on non-concessional borrowing.

Handbook Of Imf Facilities For Low Income Countries

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2012-03-21

Handbook Of Imf Facilities For Low Income Countries written by International Monetary Fund 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 2012-03-21 with Business & Economics categories.

The Fund’s concessional facilities are aimed at providing flexible and tailored support to low-income countries (LICs) in their efforts to achieve, maintain, or restore a stable and sustainable macroeconomic position consistent with strong and durable poverty reduction and growth.

Evolving Monetary Policy Frameworks In Low Income And Other Developing Countries

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-10-23

Evolving Monetary Policy Frameworks In Low Income And Other Developing Countries written by International Monetary Fund 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 2015-10-23 with Business & Economics categories.

Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.

International Monetary Fund Annual Report 2021

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Author : International Monetary Fund. Secretary's Department
language : en
Publisher: International Monetary Fund
Release Date : 2021-10-04

International Monetary Fund Annual Report 2021 written by International Monetary Fund. Secretary's Department 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 2021-10-04 with Business & Economics categories.

A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.

Guidelines For Public Debt Management Amended

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2003-09-12

Guidelines For Public Debt Management Amended written by International Monetary Fund 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 2003-09-12 with Business & Economics categories.

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