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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 Publisher :International Monetary Fund ISBN 13 :149833816X Total Pages :5 pages Book Rating :4.4/5 (983 download)
Book Synopsis Classification of Low-Income Countries for the Purpose of Debt Limits in Fund-Supported Programs - 2011 Update by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book 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 published by International Monetary Fund. This book was released on 2011-08-12 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498341039 Total Pages :39 pages Book Rating :4.4/5 (983 download)
Book Synopsis Debt Limits in Fund Programs with Low-Income Countries by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Debt Limits in Fund Programs with Low-Income Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2013-12-23 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This annotated presentation on the debt limits policy (DLP) for Fund programs with low income countries (LICs) was discussed at an informal session of the IMF Executive Board on January 10, 2014. The presentation contains a proposed new approach to the handling of external borrowing limits in such programs, building on the analysis contained in an earlier paper, discussed by the IMF Board in March 2013. The January 10 Board discussion provided staff with suggestions on how to refine their proposals, but the Board did not take a position on the merits of the proposed approach. IMF staff are to present a formal proposal to modify the IMF’s Debt Limits Policy (which covers all IMF lending programs, not merely those with low income countries) for consideration by the Fund’s Executive Board in the coming months.
Book Synopsis Kenya by : International Monetary Fund
Download or read book Kenya written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-01-08 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report of the Debt Sustainability Analysis (DSA) indicates that the envisaged strategy of a partial substitution of domestic debt by increased inflows of external grants and concessional loans, as well as a rescheduling of external debt by the Paris and London Clubs, would facilitate the achievement of debt sustainability. The DSA also confirms that such a debt rescheduling could constitute an appropriate exit strategy for Kenya. The DSA also shows that debt sustainability would improve significantly with a concessional rescheduling, particularly under the Naples terms.
Book Synopsis Liberia by : International Monetary Fund. African Dept.
Download or read book Liberia written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2012-12-21 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author :International Monetary Fund. Policy Development and Review Dept. Publisher :International Monetary Fund ISBN 13 :149833007X Total Pages :6 pages Book Rating :4.4/5 (983 download)
Book Synopsis Operational Framework for Debt Sustainability in Low-Income Countries - Implications for Fund Program Design by : International Monetary Fund. Policy Development and Review Dept.
Download or read book Operational Framework for Debt Sustainability in Low-Income Countries - Implications for Fund Program Design written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2004-09-13 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Book Synopsis Guidance Note On Implementing The Debt Limits Policy In Fund Supported Programs by : International Monetary
Download or read book Guidance Note On Implementing The Debt Limits Policy In Fund Supported Programs written by International Monetary and published by International Monetary Fund. This book was released on 2021-05-25 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Debt Limits Policy (DLP) establishes the framework for using quantitative conditionality to address debt vulnerabilities in IMF-supported programs. In October 2020, the Executive Board approved reforms to the DLP which will enter into effect on June 30, 2021. The risk-based approach to setting debt conditionality informed by Debt Sustainability Analyses under the previous DLP approved in 2014 is maintained. The reforms aim to provide countries with more financing flexibility in practice while still adequately containing debt vulnerabilities through appropriate safeguards. This note provides operational and technical guidance related to the implementation of the DLP, including the operationalization of the approved reforms. In particular, it outlines the core principles underpinning the DLP, including when debt conditionality in IMF-supported programs is warranted and how to account for country-specific circumstances in the design of debt limits. The note also describes the process of setting and implementing debt conditionality, including: (i) identifying debt vulnerabilities to inform the focus of debt conditionality; (ii) designing debt conditionality; and (iii) implementing debt conditionality through the review cycle. The Guidance Note is intended for use by both IMF staff and country officials. In this regard, in addition to the guidance presented in the main body, the note also contains several annexes that cover definitional, technical, and operational issues arising in the determination and implementation of public debt limits.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498342183 Total Pages :48 pages Book Rating :4.4/5 (983 download)
Book Synopsis Review of the Policy on Debt Limits in Fund-Supported Programs by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Review of the Policy on Debt Limits in Fund-Supported Programs written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2013-03-17 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498335748 Total Pages :37 pages Book Rating :4.4/5 (983 download)
Book Synopsis Debt Limits in Fund-Supported Programs - Proposed New Guidelines by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Debt Limits in Fund-Supported Programs - Proposed New Guidelines written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2009-05-08 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Low-income countries (LICs) face significant challenges in meeting their development objectives, while maintaining a sustainable debt position. To address this dilemma, the international community has largely advocated recourse to concessional external finance. The Fund’s existing policy and practice on external debt limits conforms to this preference.
Book Synopsis Staff Guidance Note on Debt Limits in Fund-Supported Programs by : International Monetary Fund
Download or read book Staff Guidance Note on Debt Limits in Fund-Supported Programs written by International Monetary Fund and published by International Monetary Fund. This book was released on 2009-12-22 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: In August 2009, the Executive Board approved new guidelines on external debt limits in Fund-supported programs. Debt limits seek to prevent the build-up of unsustainable debts, while allowing for adequate external financing. The new framework moves away from a single design for debt limits (or, to use the usual terminology, concessionality requirements) towards a more flexible approach.
Author :International Monetary Fund. Secretary's Department Publisher :International Monetary Fund ISBN 13 :1513568817 Total Pages :74 pages Book Rating :4.5/5 (135 download)
Book Synopsis International Monetary Fund Annual Report 2021 by : International Monetary Fund. Secretary's Department
Download or read book International Monetary Fund Annual Report 2021 written by International Monetary Fund. Secretary's Department and published by International Monetary Fund. This book was released on 2021-10-04 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :INTERNATIONAL MONETARY FUND ISBN 13 :9781498344609 Total Pages :33 pages Book Rating :4.3/5 (446 download)
Book Synopsis Staff Guidance Note on the Implementation of Public Debt Limits in Fund-Supported Programs by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Staff Guidance Note on the Implementation of Public Debt Limits in Fund-Supported Programs written by International Monetary Fund. Strategy, Policy, & Review Department and published by INTERNATIONAL MONETARY FUND. This book was released on 2015-05-28 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: In December 2014, the Executive Board approved new guidelines on the use of public debt limits in Fund-supported programs. The new guidelines enter into effect on June 30, 2015. The key changes with respect to the existing debt limits policy include, inter alia, the broadening of the policy to encompass all public debt rather than only external public debt; an integrated treatment of external public debt, covering both concessional and non-concessional debt; and closer links between public debt vulnerabilities and the use and specification of public debt conditionality. This note provides operational and technical guidance related to the implementation of the debt limits policy. In particular, it sets out how the policy should be implemented in country-specific circumstances. Full text also available in French
Book Synopsis Senegal by : International Monetary Fund. African Dept.
Download or read book Senegal written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2015-01-14 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498335632 Total Pages :23 pages Book Rating :4.4/5 (983 download)
Book Synopsis Guidance Note for Fund Staff on the Treatment and Use of SDR Allocations by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Guidance Note for Fund Staff on the Treatment and Use of SDR Allocations written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2009-08-28 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Government Finance Statistics Manual 2014 by : Mrs.Sage De Clerck
Download or read book Government Finance Statistics Manual 2014 written by Mrs.Sage De Clerck and published by International Monetary Fund. This book was released on 2015-03-10 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2007–09 international financial crisis underscored the importance of reliable and timely statistics on the general government and public sectors. Government finance statistics are a basis for fiscal analysis and they play a vital role in developing and monitoring sound fiscal programs and in conducting surveillance of economic policies. The Government Finance Statistics Manual 2014 represents a major step forward in clarifying the standards for compiling and presenting fiscal statistics and strengthens the worldwide effort to improve public sector reporting and transparency.
Book Synopsis Public Debt Vulnerabilities in Low-Income Countries - The Evolving Landscape by : International Monetary Fund
Download or read book Public Debt Vulnerabilities in Low-Income Countries - The Evolving Landscape written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-09-11 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Conditionality in Evolving Monetary Policy Regimes by : International Monetary Fund
Download or read book Conditionality in Evolving Monetary Policy Regimes written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-05-03 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: With single-digit inflation and substantial financial deepening, developing countries are adopting more flexible and forward-looking monetary policy frameworks and ascribing a greater role to policy interest rates and inflation objectives. While some countries have adopted formal inflation targeting regimes, others have developed frameworks with greater target flexibility to accommodate changing money demand, use of policy rates to signal the monetary policy stance, and implicit inflation targets.
Download or read book Multilateral Aid 2010 written by OECD and published by OECD Publishing. This book was released on 2011-05-05 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: Multilateral Aid 2010 covers trends in and total use (core and non-core) of the multilateral system, with a special focus on trust funds from the United Nations Development Program (UNDP) and the World Bank.
