Managing Global Growth Risks And Commodity Price Shocks Vulnerabilities And Policy Challenges For Low Income Countries
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Managing Global Growth Risks And Commodity Price Shocks Vulnerabilities And Policy Challenges For Low Income Countries
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2011-09-21
Managing Global Growth Risks And Commodity Price Shocks Vulnerabilities And Policy Challenges 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 2011-09-21 with Business & Economics categories.
As part of its work to help low-income countries (LICs) manage volatility, the IMF has recently developed an analytical framework to assess vulnerabilities and emerging risks that arise from changes in the external environment (see IMF, 2011a). This report draws on the results of the first Vulnerability Exercise for LICs (VE-LIC) conducted by IMF staff using this new framework. The report focuses on the risks of a downturn in global growth and of further global commodity price shocks, and discusses related policy challenges. The report is organized as follows: Chapter I reviews recent macroeconomic developments, including the spike in global commodity prices earlier this year. Chapter II assesses current risks and vulnerabilities, including how a sharp downturn in global growth and further commodity price shocks would affect LICs. Chapter III discusses policy challenges in the face of these risks and vulnerabilities.
Managing Global Growth Risks And Commodity Price Shocks
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Author : Ms.Stefania Fabrizio
language : en
Publisher: International Monetary Fund
Release Date : 2012-07-10
Managing Global Growth Risks And Commodity Price Shocks written by Ms.Stefania Fabrizio 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 2012-07-10 with Business & Economics categories.
As part of its work to help low-income countries manage volatility, the IMF has developed an analytical framework for assessing vulnerabilities and emerging risks that arise from changes in the external environment. This paper draws on the results of the first vulnerability exercise for low-income countries conducted by the IMF staff using this new framework. It focuses on the risks of a downturn in global growth and of further global commodity price shocks and discusses related policy challenges. Chapters review recent macroeconomic developments, including the spike in global commodity prices in early 2012; assess current risks and vulnerabilities, including how a sharp downturn in global growth and further commodity price shocks would affect low-income countries; and discuss policy challenges in the face of these risks and vulnerabilities.
Carbon Pricing And Fossil Fuel Subsidy Rationalization Tool Kit
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Author : Rachael Jonassen
language : en
Publisher: Asian Development Bank
Release Date : 2023-07-01
Carbon Pricing And Fossil Fuel Subsidy Rationalization Tool Kit written by Rachael Jonassen and has been published by Asian Development Bank this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-07-01 with Political Science categories.
This tool kit offers a step-by-step guide for economies in Asia and the Pacific looking to design, build, and implement emission trading systems (ETS) to help speed up their transition to a greener, more inclusive future. Using case studies to illustrate best practices and lessons learned by countries including Viet Nam and India, it explains the need to design robust legal frameworks before setting up ETSs. It outlines carbon taxes, analyzes fossil fuel subsidy rationalization, and shows why securing support from stakeholders is key for countries planning to implement ETS programs to help meet their climate targets.
Fifth Periodic Monitoring Report On The Status Of Implementation Plans In Response To Board Endorsed Ieo Recommendations
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2012-09-24
Fifth Periodic Monitoring Report On The Status Of Implementation Plans In Response To Board Endorsed Ieo Recommendations 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 2012-09-24 with Business & Economics categories.
Periodic Monitoring Reports update the status on Management Implementation Plans (MIPs) in response to Executive Board-endorsed IEO recommendations. The last Periodic Monitoring Report (PMR) was discussed by the Board Evaluation Committee (EVC) and then agreed by the Board in August 2011. That report concluded that all key performance benchmarks related to the MIPs covered in that report had either been met or were on track for timely completion, that no new remedial actions were proposed, and that there were no outstanding performance benchmarks to be reviewed in the next PMR. In their assessment to the Executive Board, the EVC did, however, note that further work was needed on three other issues—staff mobility, enhanced coverage of previous implementation plans, and the process for following up on IEO recommendations. This fifth report therefore updates work on these three issues, including a consolidated picture of recent progress on all Board-endorsed recommendations made since the first PMR in 2007. This PMR also presents progress on the Implementation Plan in response to Board-endorsed recommendations arising from the IEO Evaluation of IMF Interactions with Member Countries (hereafter, Interactions Evaluation).
Central America Panama And The Dominican Republic
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Author : Mr.Marco Pinon
language : en
Publisher: International Monetary Fund
Release Date : 2012-06-28
Central America Panama And The Dominican Republic written by Mr.Marco Pinon 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 2012-06-28 with Business & Economics categories.
Central America, Panama, and the Dominican Republic coped well with the global financial crisis of 2008-09. The impact was generally less severe and shorter lived than in previous episodes, the balance of payments adjustment was orderly, and the stability of the financial system was not compromised. This resilience can be attributed to a large extent to the strengthening of the fiscal frameworks, monetary management, and financial reforms conducted in the years preceding the global crisis. Nevertheless, the region faces considerable challenges for the period ahead, including the need to raise medium term growth above historical levels and protect macroeconomic and financial stability. This book argues that meeting these challenges will have to come from within, in light of the anticipated modest demand growth from trade partners. Raising growth in the region will depend on the adoption of structural reforms that generate substantial productivity gains. Rebuilding fiscal space and securing debt sustainability will hinge on efforts to increase tax revenue and reorienting spending to social and investment priorities. In the non-officially dollarized economies, it will also be essential to strengthen the monetary policy frameworks to keep inflation low and increase exchange rate flexibility, and improve financial regulation and supervision.
Poverty Reduction And Growth Trust Review Of Interest Rate Structure
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2011-11-23
Poverty Reduction And Growth Trust Review Of Interest Rate Structure 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 2011-11-23 with Business & Economics categories.
This is the first review of the interest rate mechanism approved under the 2009 reforms of the Fund’s concessional lending facilities. The mechanism links the Poverty Reduction and Growth Trust (PRGT) interest rate structure to world interest rates and provides a setting to differentiate interest rates across the various PRGT facilities. The framework requires reviews every two years, with the first such review to be completed by December 31, 2011.
Commodity Price Volatility And Inclusive Growth In Low Income Countries
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Author : Mr.Rabah Arezki
language : en
Publisher: International Monetary Fund
Release Date : 2012-10-24
Commodity Price Volatility And Inclusive Growth In Low Income Countries written by Mr.Rabah Arezki 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 2012-10-24 with Business & Economics categories.
In the years following the global financial crisis, many low-income countries experienced rapid recovery and strong economic growth. However, many are now facing enormous difficulties because of rapidly rising food and fuel prices, with the threat of millions of people being pushed into poverty around the globe. The risk of continued food price volatility is a systemic challenge, and a failure in one country has been shown to have a profound impact on entire regions. This volume addresses the challenges of commodity price volatility for low-income countries and explores some macroeconomic policy options for responding to commodity price shocks. The book then looks at inclusive growth policies to address inequality in commodity-exporting countries, particularly natural resource rich countries. Perspectives from the Middle East and North Africa, sub-Saharan Africa, emerging Asia, and Mexico are presented and, finally, the role of the international donor community is examined. This volume is a must read for policymakers everywhere, from those in advanced, donor countries to those in countries with the poorest and most vulnerable populations.
Energy Subsidy Reform Lessons And Implications
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2013-01-28
Energy Subsidy Reform Lessons And Implications 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 2013-01-28 with Business & Economics categories.
Energy subsidies have wide-ranging economic consequences. While aimed at protecting consumers, subsidies aggravate fiscal imbalances, crowd-out priority public spending, and depress private investment, including in the energy sector. Subsidies also distort resource allocation by encouraging excessive energy consumption, artificially promoting capital-intensive industries, reducing incentives for investment in renewable energy, and accelerating the depletion of natural resources. Most subsidy benefits are captured by higher-income households, reinforcing inequality. Even future generations are affected through the damaging effects of increased energy consumption on global warming. This paper provides: (i) the most comprehensive estimates of energy subsidies currently available for 176 countries; and (ii) an analysis of ?how to do energy subsidy reform, drawing on insights from 22 country case studies undertaken by IMF staff and analyses carried out by other institutions.
2013 Low Income Countries Global Risks And Vulnerabilities Report
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2013-09-13
2013 Low Income Countries Global Risks And Vulnerabilities Report 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 2013-09-13 with Business & Economics categories.
An assessment of vulnerabilities and risks in LICs remains important both for LICs themselves and for the international community. There are currently 74 LICs, eligible for concessional financing from the Fund. This group of countries has a total population of about 1.3 billion, with an average per capita income of around $850. They typically face the steepest challenges in meeting the Millennium Development Goals (MDGs) and are increasingly the focus of global development assistance to assist them in this endeavor. This report serves several purposes. It provides a cross-cutting analysis of the economic vulnerabilities of LICs, yielding some general policy conclusions and messages aimed at strengthening their resilience to external shocks. It delivers a richer coverage of developments in LICs than is typically contained in the major IMF multilateral surveillance reports, where analysis is focused primarily on developments in the advanced and emerging market economies. The report serves as an effective outreach tool to country authorities and the wider public. Finally, it provides useful information to other international financial institutions (IFIs) and donors that provide financial resources to LICs on the potential financing needs of these countries under varying global scenarios.
Predicting Fiscal Crises
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Author : Ms.Svetlana Cerovic
language : en
Publisher: International Monetary Fund
Release Date : 2018-08-03
Predicting Fiscal Crises written by Ms.Svetlana Cerovic 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 2018-08-03 with Business & Economics categories.
This paper identifies leading indicators of fiscal crises based on a large sample of countries at different stages of development over 1970-2015. Our results are robust to different methodologies and sample periods. Previous literature on early warning sistems (EWS) for fiscal crises is scarce and based on small samples of advanced and emerging markets, raising doubts about the robustness of the results. Using a larger sample, our analysis shows that both nonfiscal (external and internal imbalances) and fiscal variables help predict crises among advanced and emerging economies. Our models performed well in out-of-sample forecasting and in predicting the most recent crises, a weakness of EWS in general. We also build EWS for low income countries, which had been overlooked in the literature.