Evaluating Fiscal Rules For Lesotho
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Evaluating Fiscal Rules For Lesotho
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Author : Mr. Yibin Mu
language : en
Publisher: International Monetary Fund
Release Date : 2022-12-06
Evaluating Fiscal Rules For Lesotho written by Mr. Yibin Mu 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 2022-12-06 with Business & Economics categories.
A key challenge for Lesotho is the downward rigidity in public expenditure—which increases when SACU transfers are buoyant but fails to be pared back when they fall. Fiscal rules would be of value in Lesotho to help provide constraints on spending and resist political pressure to overspend, while embedding fiscal responsibility within the country’s macro-fiscal framework and ensuring debt sustainability. This paper evaluates options for fiscal rules for Lesotho, discusses the institutional framework required to help underpin a sound fiscal-rule framework, posits a possible fiscal-rule framework for Lesotho, and offers a roadmap to introduce the framework.
Fiscal Rules
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Author : Mr.Jiro Honda
language : en
Publisher: International Monetary Fund
Release Date : 2017-09-12
Fiscal Rules written by Mr.Jiro Honda 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 2017-09-12 with Business & Economics categories.
Over the past decade, Lesotho and Swaziland have faced significant volatility in their fiscal revenues, owing to highly unstable Southern African Customs Union (SACU) receipts. Based on model analysis, this paper explores the advantages of implementing fiscal rules to deal with such volatility. It finds that the use of a structural balance target could smooth the growth impact from revenue shocks while helping preserve sufficient international reserves during bad times. From a long-term perspective, it suggests possible welfare gains from introducing fiscal rules. Last, it concludes that, based on experiences in other countries, developing strong institutions and improving public financial management are necessary steps to ease the transitions to a rules-based fiscal policy framework.
Kingdom Of Lesotho Selected Issues
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2022-06-07
Kingdom Of Lesotho Selected Issues 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 2022-06-07 with Business & Economics categories.
Kingdom of Lesotho: Selected Issues
Policy Coordination In Lesotho
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Author : Mr. Yibin Mu
language : en
Publisher: International Monetary Fund
Release Date : 2022-12-06
Policy Coordination In Lesotho written by Mr. Yibin Mu 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 2022-12-06 with Business & Economics categories.
In a country such as Lesotho with high capital mobility and leakages abroad, the relationship between both fiscal, monetary, and exchange rate policy is intertwined, such that public spending and reserves are strongly linked. The paper offers an overview of the economic institutions and arrangements in Lesotho, discusses a short primer on macroeconomic policies under a fixed exchange rate, stresses a vital role for macro policy coordination in Lesotho, and proposes a macro policy framework. While the paper is developed in context of Lesotho, the analysis should also be applicable to small open economies under the fixed exchange rate arrangement.
Fiscal Policy And Long Term Growth
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-04-20
Fiscal Policy And Long Term Growth 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 2015-04-20 with Business & Economics categories.
This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Kingdom Of Lesotho
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Author : International Monetary Fund. Statistics Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2018-10-03
Kingdom Of Lesotho written by International Monetary Fund. Statistics 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 2018-10-03 with Business & Economics categories.
This Technical Assistance Report discusses the findings and recommendations made by the IMF mission regarding compilation of Government Finance Statistics (GFS) in Lesotho. The IMF mission reviewed current compilation methods of GFS for the budgetary central government and found that there were significant accuracy, classification, coverage, and comprehensiveness issues that undermine the credibility of fiscal statistics currently compiled and disseminated. Currently compiled and disseminated GFS include a large and persistent statistical discrepancy. The statistical discrepancy averaged to about a third of total revenue in preliminary data for FY2016/17 and FY2017/18. The mission also identified and discussed with the staff of the Ministry of Finance a number of reasons that may partly explain the discrepancy.
Fiscal Policy In Economic And Monetary Union
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Author : Marco Buti
language : en
Publisher: Edward Elgar Publishing
Release Date : 2005-01-01
Fiscal Policy In Economic And Monetary Union written by Marco Buti and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-01-01 with Business & Economics categories.
The book has many merits, and represents an important contribution to the controversial topic of European fiscal policy. I appreciated in particular the high quality and rigor of the analysis and the fact that the pros and cons of the contending opinions are presented in a fair way. It is a rewarding reading. EAEPE Newsletter Buti and Franco present a series of interesting analytical information which should be read by as broad an audience as possible. . . the book is a good buy. László Csaba, Acta Oeconomica This book explores the origins, rationale, problems and prospects of the European fiscal policy framework. It provides the reader with a roadmap to EMU s budgetary framework by exploring its theoretical and empirical foundations, uncovering its historical roots and emphasising its supranational nature. The authors, who have been at the forefront of the academic and policy debate on economic policy in Europe, argue that fiscal policy has always been at the core of the EMU debate. The Maastricht criteria and the Stability and Growth Pact are the most contentious building blocks of EMU s institutional architecture: they have aroused heated controversies between academics and policymakers ever since their adoption. As EMU s budgetary rules undergo their first severe shock, Europe is still searching for its fiscal soul. The book s basic premise is that one cannot fully understand EMU s fiscal framework and the recent debate on its reform without placing them in a historical and institutional perspective and abstracting from the uniqueness of EMU, where sovereign countries retain a large degree of fiscal independence, and monetary policy is entrusted to an independent central bank with the overriding mission of maintaining price stability. Analysing all aspects of EMU s fiscal rules and institutions, this book will strongly appeal to students, academics and researchers of macroeconomic policy and European integration. Policymakers and fiscal policy experts at both national and international levels will also find the book to be of great interest.
Catastrophe Containment And Relief Trust Fourth Tranche Of Debt Service Relief In The Context Of The Covid 19 Pandemic And Approval Of Additional Beneficiary Member Countries
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2021-10-08
Catastrophe Containment And Relief Trust Fourth Tranche Of Debt Service Relief In The Context Of The Covid 19 Pandemic And Approval Of Additional Beneficiary Member 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 2021-10-08 with Business & Economics categories.
The paper provides brief updates for each CCRT-eligible country on its policy responses to the pandemic and on staff’s assessments of these policies, the use of resources freed up by debt service relief, and the implementation of governance safeguards commitments. The paper also provides an update on the financial situation of the CCRT. The generous support from 17 donor countries and the EU has mobilized SDR 609 million in new pledges since the onset of the pandemic.
Kingdom Of Lesotho
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2006-04-27
Kingdom Of Lesotho 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 2006-04-27 with Health & Fitness categories.
This Poverty Reduction Strategy Paper for the Kingdom of Lesotho presents a determined plan in pursuance of high and sustainable equity-based economic growth. It contains medium-term objectives and strategies to address the major challenges facing the country. These challenges include employment creation and income generation, and improving quality of and access to education and health services. Lesotho plans to deal boldly with its trading and investment partners by exploiting the opportunities inherent in the process of globalization under such mechanisms as the Africa Growth and Opportunities Act.
Niger
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2013-09-16
Niger written by International Monetary Fund. Fiscal Affairs 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 2013-09-16 with Business & Economics categories.
This paper provides details of Public Expenditure and Financial Accountability (PEFA) Assessment report for Niger. The measurement of the public financial management performance indicators shows that progress has been insignificant. Reform programs in progress in the area of oversight and external auditing are moving ahead; as this trend continues, the progress will be reflected in the scores of subsequent assessments. However, the progress of the external audit will continue to depend on positive trends in the area of accounting, information recording, and financial reporting.