Imf Supported Programs In Low Income Countries Fragile Versus Non Fragile States
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Imf Supported Programs In Low Income Countries Fragile Versus Non Fragile States
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Author : Kailhao Cai
language : en
Publisher: International Monetary Fund
Release Date : 2024-10-11
Imf Supported Programs In Low Income Countries Fragile Versus Non Fragile States written by Kailhao Cai 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 2024-10-11 with categories.
This paper examines the macroeconomic frameworks of IMF-supported programs with low-income countries from 2009 to 2022, focusing on how macroeconomic targets and their achievement differ between fragile and conflicted-affected states (FCS) and non-FCS. Key findings include similar program targets for FCS and non-FCS, optimism in all dimensions considered other than inflation, and no significant correlation between targets and outcomes. For variables other than inflation, country-independent targets equal to the mean or median outcomes of other programs outperform program projections as predictors of actual outcomes. This underscores the challenges in setting realistic, country and program-specific targets in IMF-supported programs with low-income countries. Finally, we discuss potential caveats, including GDP rebenchmarking, non-linear relationship between initial conditions and targets, and repeat programs. We do not study, and make no claims about, causality.
Imf Supported Programs And Income Convergence In Low Income Countries
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Author : Tejesh Pradhan
language : en
Publisher: International Monetary Fund
Release Date : 2018-12-13
Imf Supported Programs And Income Convergence In Low Income Countries written by Tejesh Pradhan 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 2018-12-13 with Business & Economics categories.
Continuing the empirical debate on the effects of IMF-supported programs on participating countries’ macroeconomic performance, we focus on the issue of whether these programs accelerate conditional ß-convergence among low-income countries (LICs). We use an unbalanced panel dataset for 85 LICs over the period 1986-2015 and employ two different econometric methods to address the selection bias problem. Our empirical results suggest that the rate of conditional income per capita convergence is faster among LICs with extended IMF support than that in countries without support or with intermittent support.
Imf And Fragile States
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Author : International Monetary Fund. Independent Evaluation Office
language : en
Publisher: International Monetary Fund
Release Date : 2018-04-13
Imf And Fragile States written by International Monetary Fund. Independent Evaluation Office 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 2018-04-13 with Business & Economics categories.
This evaluation assesses the IMF’s work on countries in fragile and conflict-affected situations (FCS), addressing both (i) its engagement through surveillance, lending, and capacity development and (ii) the frameworks and procedures for its engagement. It finds that the IMF has provided unique and essential services to FCS to restore macroeconomic stability and rebuild core macroeconomic institutions as prerequisites for state building, playing a role in which no other institution can take its place. In this critical role, it is broadly acknowledged to have had a high impact. While the IMF has provided relatively little direct financing, it has catalyzed donor support through its assessment of a country’s economic policies and prospects. Notwithstanding this positive assessment, the IMF’s overall approach to its FCS work seems to have been conflicted. Not only has it failed consistently to make hard choices necessary to achieve full impact from its engagement in countries where success requires patient and dedicated attention over the long haul, but past efforts have not been sufficiently bold or adequately sustained, and the staff has tended to revert to treating fragile states using IMF-wide norms, rather than as countries needing special attention. The report proposes six recommendations to improve the effectiveness of the IMF’s FCS work: (i) to issue a statement of high-level commitment to FCS work for IMFC endorsement; (ii) to create an effective institutional mechanism with the mandate and authority to coordinate and champion such work; (iii) to develop comprehensive strategies for individual FCS; (iv) to adapt its lending toolkit to deliver more sustained financial support to FCS; (v) to take practical steps to increase the impact of its capacity development support to FCS; and (vi) to take steps to incentivize high-quality and experienced staff to work on individual FCS and find pragmatic ways of increasing field presence in high risk locations.
Macroeconomic Policy In Fragile States
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Author : Ralph Chami
language : en
Publisher:
Release Date : 2021
Macroeconomic Policy In Fragile States written by Ralph Chami and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with Business & Economics categories.
Setting macroeconomic policy is especially difficult in fragile states. Macroeconomic Policy in Fragile States addresses the many issues involved and considers ways to improve the effectiveness of macroeconomic management in the face of these constraints.
Growth And Adjustment In Imf Supported Programs
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Author : International Monetary Fund. Independent Evaluation Office
language : en
Publisher: International Monetary Fund
Release Date : 2021-09-09
Growth And Adjustment In Imf Supported Programs written by International Monetary Fund. Independent Evaluation Office 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 2021-09-09 with Business & Economics categories.
This evaluation assesses how well IMF-supported programs helped to sustain economic growth while delivering adjustment needed for external viability over the period 2008–19. The evaluation finds that the Fund’s increasing attention to growth in the programs has delivered some positive results. Specifically, it does not find evidence of a consistent bias towards excessive austerity in IMF-supported programs. Indeed, programs have yielded growth benefits relative to a counterfactual of no Fund engagement and boosted post-program growth performance. Notwithstanding these positive findings, program growth outcomes consistently fell short of program projections. Such shortfalls imply less protection of incomes than intended, fuel adjustment fatigue and public opposition to reforms, and jeopardize progress towards external viability. The evaluation examines how different policy instruments were applied to support better growth outcomes while achieving needed adjustment. Fiscal policies typically incorporated growth-friendly measures but with mixed success. Despite some success in promoting reforms and growth, structural conditionalities were of relatively low depth and their potential growth benefits were not fully realized. Use of the exchange rate as a policy tool to support growth and external adjustment during programs was quite limited. Lastly, market debt operations were useful in some cases to restore debt sustainability and renew market access, yet sometimes were too little and too late to deliver the intended benefits. The evaluation concludes that the IMF should seek to further enhance program countries’ capacity to sustain activity while undertaking needed adjustment during the program and to enhance growth prospects beyond the program. Following this conclusion, the report sets out three recommendations aimed at strengthening attention to growth implications of IMF-supported programs, including the social and distributional consequences.
2018 Review Of Facilities For Low Income Countries
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2018-08-01
2018 Review Of Facilities For Low Income Countries 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 2018-08-01 with Nature categories.
The Fund is facing strong demand for financing from low-income countries (LICs). Commodity price shocks and loose fiscal policies have contributed to rising debt levels and financing needs in many countries. Several developing states, especially smaller ones, are also increasingly vulnerable to large natural disasters. At the same time, many LICs less dependent on commodity exports have enjoyed robust growth in recent years, with more contained vulnerabilities.
Concept Note Joint World Bank And Imf Report On Poverty Reduction Strategy Papers Progress In Implementation 2005 Prs Review
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2005-02-02
Concept Note Joint World Bank And Imf Report On Poverty Reduction Strategy Papers Progress In Implementation 2005 Prs Review 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 2005-02-02 with Political Science categories.
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Managing Fragility And Promoting Resilience To Advance Peace Security And Sustainable Development
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Author : James Michel
language : en
Publisher: Bloomsbury Publishing PLC
Release Date : 2018-01-25
Managing Fragility And Promoting Resilience To Advance Peace Security And Sustainable Development written by James Michel and has been published by Bloomsbury Publishing PLC this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-25 with Political Science categories.
“Fragility”—the combination of poor governance, limited institutional capability, low social cohesion, and weak legitimacy—leads to erosion of the social contract and diminished resilience, with significant implications for peace, security, and sustainable development. This study reviews how the international community has responded to this challenge and offers new ideas on how that response can be improved. Based on that examination, the author seeks to convey the importance of addressing this phenomenon as a high priority for the international community. Chapters explore the nature of these obstacles to sustainable development, peace, and security; how the international community has defined, measured, and responded to the phenomenon of fragility; how the international response might be made more effective; and implications for the United States.
Case Studies In Tax Revenue Mobilization In Low Income Countries
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Author : Mr.Bernardin Akitoby
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-10
Case Studies In Tax Revenue Mobilization In Low Income Countries written by Mr.Bernardin Akitoby 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 2019-05-10 with Business & Economics categories.
How can Low-Income Countries (LICs) enhance tax revenue collection to finance their vast development needs? We address this question by analyzing seven tax reform experiences in LICs (Burkina Faso, The Gambia, Maldives, Mauritania, Rwanda, Senegal, and Uganda). Three lessons stand out, although reforms must be tailored to individual circumstances: (i) Tax reforms require first and foremost political commitment and buy-in from key stakeholders; (ii) Countries that pursue both revenue administration and tax policy reforms tend to see much larger and persistent gains; and (iii) A successful strategy often starts with fiscal reform measures with immediate effect to build momentum. These can include: simplifying the tax system; curbing exemptions; reforming indirect taxes on goods and services (e.g., excises); and better managing compliance risks through strengthening taxpayer segmentation (often beginning with strengthening the Large Taxpayers Office). A comprehensive reform strategy (e.g., a medium-term revenue strategy) can help to properly sequence reform measures and facilitate their implementation.
Central African Republic
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2012-08-13
Central African Republic 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 2012-08-13 with Business & Economics categories.
The Staff Report for the 2011 Article IV Consultation found the macroeconomic performance of the Central African Republic (CAR) satisfactory despite its below-average growth compared with other countries of the region. The report has identified lack of resources, institutional frailties, overdependence on external assistance among other factors responsible for the tardy economic growth and increase in poverty. However, the report has observed that the economy is poised for a medium-term recovery with budgetary discipline and transparency, and effective management of public debt.