Public Debt Vulnerabilities In Low Income Countries The Evolving Landscape
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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.
2018 Interim Surveillance Review
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2018-04-17
2018 Interim Surveillance Review 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 2018-04-17 with Business & Economics categories.
"Fund surveillance has become better adapted to the global conjuncture, and more integrated and risk-based. The recommendations of the 2014 Triennial Surveillance Review (TSR) focused on helping members navigate the post crisis challenges. Bilateral and multilateral surveillance discussions are underpinned by a shared and deeper understanding of global interconnectedness and linkages across sectors. There has also been progress in core areas such as risk work, fiscal and external sector analysis, and in integration of macrofinancial analysis and of macrostructural policy work that aims to reinvigorate productivity and growth, and promote inclusiveness. The ongoing efforts to align surveillance inputs with risks is also enhancing the Fund’s ability to support members more effectively. Continuing efforts along several dimensions will be needed to further advance surveillance ahead of the 2019 Comprehensive Surveillance Review (CSR). These include planned refinements to external sector assessments, sustaining progress on macrofinancial surveillance, addressing data gaps, and incorporating lessons from pilot efforts including on macrofinancial, macrostructural and emerging issues. Efforts to meet surveillance challenges in low income countries also will continue. Outward spillover work, particularly from the largest economies, should receive greater prominence in Article IV reports. Further work is also needed to make policy advice more persuasive by better leveraging cross-country policy experiences and integrating technical assistance. Lessons from implementing the TSR recommendations should help ensure further progress. A major investment has been made to deepen the analysis that supports surveillance. With a dramatic increase in the range of analytical approaches and tools available, selectivity and tailoring are ever more crucial. The Fund’s internal processes have proven flexible enough to deliver on key areas, but will require continual adaptation to keep pace with evolving challenges. Strategies for human resources, capacity development, knowledge management, and data and statistics should further reinforce surveillance priorities. Looking ahead, the 2019 CSR will further anchor the Fund’s surveillance in a world of rapid technological change. The increased pace of technological progress could have far-reaching implications for the global economy, finance, and policy making, possibly fundamentally altering the surveillance landscape. Coupled with rising inequality and possible adoption of inward-looking policies, the impact on the membership could be profound. Engagement with members, stakeholders, and experts will be central in determining how the 2019 CSR will address these challenges."
Review Of The Debt Sustainability Framework For Low Income Countries
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2017-02-10
Review Of The Debt Sustainability Framework 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 2017-02-10 with Business & Economics categories.
The Debt Sustainability Framework for Low-income Countries (LIC DSF) has been the cornerstone of assessments of risks to debt sustainability in LICs. The framework classifies countries based on their assessed debt-carrying capacity, estimates threshold levels for selected debt burden indicators, evaluates baseline projections and stress test scenarios relative to these thresholds, and then combines indicative rules and staff judgment to assign risk ratings of external debt distress. The framework has demonstrated its operational value since the last review was conducted in 2012, but there are areas where new features can be introduced to enhance its performance in assessing risks. Against the backdrop of the evolving nature of risks facing LICs, both staff analysis and stakeholder feedback suggest gaps in the framework to be addressed. Complexity and lack of transparency have also been highlighted as causes for concern. This paper proposes a set of reforms to enhance the value of the LIC DSF for all users. In developing these reforms, staff has been guided by two over-arching principles: a) the core architecture of the DSF—model-based results complemented by judgment—remains appropriate; and b) reforms should ensure that the DSF maintains an appropriate balance by providing countries with early warnings of potential debt distress without unnecessarily constraining their borrowing for development.
Fiscal Monitor October 2016
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Author : Ms.Marialuz Moreno Badia
language : en
Publisher: International Monetary Fund
Release Date : 2016-10-05
Fiscal Monitor October 2016 written by Ms.Marialuz Moreno Badia 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 2016-10-05 with Business & Economics categories.
Drawing on an expanded data set covering emerging markets and low-income countries as well as advanced economies, this issue examines the extent and makeup of global debt and asks what role fiscal policy can play in facilitating the adjustment. The analytical framework explicitly models the interlinkages between private and public debt in analyzing the role of fiscal policy in the deleveraging process. Country case studies provide useful insights on what fiscal policy should and should not do to facilitate deleveraging while minimizing the drag on the economy.
Islamic Republic Of Mauritania
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Author : International Monetary Fund. Middle East and Central Asia Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-05-11
Islamic Republic Of Mauritania 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 2016-05-11 with Business & Economics categories.
This paper discusses the impact of the global economic slump on the Mauritanian economy, which faces a significant negative terms-of-trade shock that is more persistent than initially envisaged. The impact of the international shock is compounded by a narrow production base, structural weaknesses, and limited policy space related to elevated public debt and pressures on external buffers. The outlook sees a recovery in economic activity to 4.1 percent in 2016, but risks to the outlook are tilted to the downside. The present economic uncertainty has prompted Mauritania to call for an ambitious policy adjustment to diversify the economy and promote inclusive growth for a determined reform agenda.
Global Outlook On Financing For Sustainable Development 2019 Time To Face The Challenge
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2018-11-12
Global Outlook On Financing For Sustainable Development 2019 Time To Face The Challenge written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-12 with categories.
The financing for sustainable development agenda promises to bring together more actors than ever before – from businesses, governments, philanthropists, and remitting households – to address the world’s most pressing problems and achieve the Sustainable Development Goals. Yet, in spite of this ...
Frontier Capital Markets And Investment Banking
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Author : Temitope W. Oshikoya
language : en
Publisher: Routledge
Release Date : 2019-05-28
Frontier Capital Markets And Investment Banking written by Temitope W. Oshikoya and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-28 with Business & Economics categories.
This book discusses the role of capital markets and investment banking in Nigeria, the largest frontier market economy in the world by both population size and gross domestic product. Offering a systematic framework combining conceptual principles with real practice, the book enables the reader to gain useful insight into how capital markets and investment banking work in the real world of a frontier market. The book provides a synopsis of the economic attractiveness, financial systems intermediation and capital markets, as well as the regulatory framework within a frontier market. It explores capital raising through equity and underwriting and private equity, paying particular attention to putting capital to work on mergers and acquisitions, project and infrastructure finance and real estate finance. Furthermore, it analyses asset management, pension industry and securities trading in a frontier market. The authors use detailed case studies from Nigeria to illustrate the operations of investment banking in frontier markets. The cases, tables and charts serve as useful illustrations of the topics under discussion. With the authors’ combined experience of more than 50 years as economists, finance and investment professionals and in executive leadership positions in the financial services industry, this book will interest the academic community, professionals in the financial industry, retail and institutional investors interested in frontier markets, development practitioners in international organizations and policy makers including securities and capital market regulators.
Global Economic Prospects June 2016
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Author : World Bank Group
language : en
Publisher: World Bank Publications
Release Date : 2016-07-13
Global Economic Prospects June 2016 written by World Bank Group and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-13 with Business & Economics categories.
Global growth prospects have deteriorated in 2016. Emerging market and developing economies are facing increased external headwinds, including softer growth in advanced economies. Commodity exporters are struggling with particularly challenging conditions, while commodity importers are thus far showing greater resilience. Global growth is expected to gradually accelerate in 2017-18 but risks to the outlook are increasingly more pronounced. In addition to discussing global and regional economic developments and prospects, this edition of Global Economic Prospects includes two Special Focus essays of critical importance for emerging and developing economies: an analysis of the buildup of private debt in emerging and frontier markets and a quantitative study of uncertainties surrounding global growth. This year marks the 25th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that has, since its inception in 1991, examined international economic developments and prospects, with a special focus on emerging market and developing economies. It has also included analytical essays on a wide range of topical macroeconomic, financial, and structural policy challenges faced by these economies. It is published on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges, while the June edition contains shorter analytical essays.
International Monetary Fund Annual Report 2016
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2016-09-26
International Monetary Fund Annual Report 2016 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 2016-09-26 with Business & Economics categories.
The year was marked by difficult challenges and milestone achievements. To reinvigorate modest growth at a time of uncertainty about a complicated global economy, the IMF membership endorsed a three-pronged approach of monetary, fiscal, and structural policies to get the world economy back on a stronger and safer growth track. Highlights of the IMF’s work during the year included entry into effect of its quota and governance reforms approved in 2010, which increase the Fund’s core resources and make it more representative of the membership; commitments for increased financial support, policy advice, expertise, and training to help low-income developing countries achieve the U.N. Sustainable Development Goals; analysis of the international monetary system; inclusion of the Chinese currency in the basket of currencies that make up the Special Drawing Right; and policy advice on the economic repercussions of mass migration of refugees from Syria and other conflict-afflicted states. The IMF Annual Report, which covers the period May 1, 2015 to April 30, 2016, discusses all of these issues, plus a wide range of policy matters that the Executive Board addressed during the year.
Statement By The Managing Director On The Work Program Of The Executive Board
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2020-01-16
Statement By The Managing Director On The Work Program Of The Executive Board 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 2020-01-16 with Business & Economics categories.
This Work Program (WP) translates the strategic directions and policy priorities laid out in the Fall 2019 Global Policy Agenda (GPA) Update and the International Monetary and Financial Committee Communiqué into an Executive Board agenda from November 2019 to October 2020, focusing on the next six months. Its main policy priorities and deliverables are as follows: • Turn evidence-based analysis into actionable policy recommendations to make economies more resilient and inclusive • Contribute to improving the multilateral system and upgrading international cooperation to bring the benefits of integration to all • Modernize the Fund’s policy toolkits to meet the challenges of a fast-changing world • Safeguard the Fund’s financial strength and undertake an ambitious internal modernization agenda