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Eastern Caribbean Currency Union 2021 Discussion On Common Policies Of Member Countries Press Release Staff Report And Statement By The Executive Director For The Eastern Caribbean Currency Union
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Book Synopsis Eastern Caribbean Currency Union: 2021 Discussion on Common Policies of Member Countries-Press Release; Staff Report; and Statement by the Executive Director for the Eastern Caribbean Currency Union by : International Monetary
Download or read book Eastern Caribbean Currency Union: 2021 Discussion on Common Policies of Member Countries-Press Release; Staff Report; and Statement by the Executive Director for the Eastern Caribbean Currency Union written by International Monetary and published by International Monetary Fund. This book was released on 2021-05-04 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fallout from the COVID-19 crisis is hitting ECCU economies hard. Tourism receipts (accounting for nearly 40 percent of GDP) have dried up, as tourist arrivals have come to a grinding halt. The authorities successfully contained the spread of the virus at the onset of the pandemic by largely closing the borders, but a reopening of the economies since the summer has led to a surge in COVID cases. The ECCU economy is projected to contract by 16 percent in 2020 and by a further near 1⁄2 percent in 2021. Fiscal positions have deteriorated sharply, and public debt is projected to reach near 90 percent of GDP in 2021 and remain at an elevated level for years to come. Headline indicators suggest the financial system is relatively sound with ample liquidity buffers, but nonperforming loans are expected to rise significantly. The outlook is clouded by exceptionally high risks, including from the uncertainty concerning the evolution of the pandemic.
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :91 pages Book Rating :4.4/5 (2 download)
Book Synopsis Eastern Caribbean Currency Union by : International Monetary Fund. Western Hemisphere Dept.
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2022-07-29 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: With ECCU economies slowly emerging from the pandemic with scars, the impact of the war in Ukraine is a setback to the nascent recovery. Higher food and energy prices, amid ongoing supply disruptions and intra-regional transportation bottlenecks, are raising inflation, eroding income, lowering output growth, worsening fiscal and external positions, and threatening food and energy security. As a result, inflation is expected to hover over 51⁄2 percent in 2022. Real GDP is projected to grow by 71⁄2 percent in 2022, leaving output still well below the pre-pandemic level. Fiscal deficits are projected to remain sizable, given continued pandemic- and disaster-related spending and temporary support to address rising living costs, thereby keeping gross financing needs and public debt at elevated levels in the near term. The financial system has remained broadly stable so far, with adequate capital and liquidity buffers, but nonperforming loans remain high and could rise further following the expiration of the ECCB’s loan moratoria program. The outlook is subject to large downside risks, primarily from further increases in commodity prices and new COVID variants amid vaccine hesitancy, in addition to the ever-present threat of natural disasters.
Book Synopsis Central African Economic and Monetary Community (CEMAC) by : International Monetary Fund. African Dept.
Download or read book Central African Economic and Monetary Community (CEMAC) written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2021-01-22 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic shock associated with the COVID-19 pandemic is set to have long-lasting effects on the economic outlook for CEMAC. The pandemic itself seems to be now broadly under control in the region, and the policy response from national and regional authorities, supported by significant emergency financing by the Fund, helped mitigate the initial economic fallout. With lower medium-term oil prices, the outlook projects that CEMAC’s fiscal and external adjustments will be slower than previously envisaged, entailing large external financing needs (around €6.6 billion for 2021–23). Gross international reserves will now reach the equivalent of 5 months of imports by 2025 vs. 2022 pre-pandemic, while net foreign assets (NFA) will be below previous expectations. Public debt would remain at elevated levels, albeit on a declining trend after the increase in 2020. This outlook is highly uncertain and contingent on the evolution of the pandemic and its impact on oil prices. Other significant risks include: delayed implementation of the ongoing or a second phase of new Fund-supported programs, difficulties in filling large external financing needs, and a deterioration in the security situation.
Book Synopsis St. Kitts and Nevis: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Kitts and Nevis by : International Monetary
Download or read book St. Kitts and Nevis: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Kitts and Nevis written by International Monetary and published by International Monetary Fund. This book was released on 2021-10-28 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: St. Kitts and Nevis entered the Covid-19 pandemic from a position of fiscal strength following nearly a decade of budget surpluses. A significant part of the large CBI revenues was prudently saved, reducing public debt below the regional debt target of 60 percent of GDP and supporting accumulation of large government deposits.
Book Synopsis Tourism in the Post-Pandemic World by : Ms.Manuela Goretti
Download or read book Tourism in the Post-Pandemic World written by Ms.Manuela Goretti and published by International Monetary Fund. This book was released on 2021-02-19 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: This departmental paper analyzes the impact of the COVID-19 pandemic on tourism in the Asia Pacific region, Latin America, and Caribbean countries. Many tourism dependent economies in these regions, including small states in the Pacific and the Caribbean, entered the pandemic with limited fiscal space, inadequate external buffers, and foreign exchange revenues extremely concentrated in tourism. The empirical analysis leverages on an augmented gravity model to draw lessons from past epidemics and finds that the impact of infectious diseases on tourism flows is much greater in developing countries than in advanced economies.
Book Synopsis Sustainable Investment Policy Perspectives in the Economic Community of West African States (ECOWAS) by : OECD
Download or read book Sustainable Investment Policy Perspectives in the Economic Community of West African States (ECOWAS) written by OECD and published by OECD Publishing. This book was released on 2024-01-24 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report serves as a baseline diagnostic to explore ways to reinvigorate the reform of the ECOWAS investment climate while also improving sustainable outcomes from investment. It also highlights areas where further collaboration between ECOWAS and the OECD could contribute to improved investment climates throughout the region.
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :105 pages Book Rating :4.4/5 (2 download)
Book Synopsis St. Vincent and the Grenadines by : International Monetary Fund. Western Hemisphere Dept.
Download or read book St. Vincent and the Grenadines written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2022-11-17 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: St. Vincent and the Grenadines is recovering from the pandemic and 2021 volcanic eruptions. Despite the authorities’ strong efforts to contain deficits, critical fiscal responses to these shocks pushed up public debt, which—while assessed as sustainable—remains at high risk of distress should future shocks materialize. The economy is projected to grow by 5 percent in 2022, supported by large-scale investment projects and recoveries in tourism and agriculture. Surging commodity prices, fueled by Russia’s war in Ukraine, are expected to raise inflation sharply to 5.8 percent in 2022, adding to fiscal and external pressures and weighing on the recovery. So far, the financial system has weathered the shocks relatively well. The outlook is subject to significant downside risks primarily from an abrupt slowdown in trading partners’ growth, potential delays in investment projects including due to supply chain disruptions, and the ever-present threat of frequent natural disasters.
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :86 pages Book Rating :4.4/5 (2 download)
Book Synopsis St. Kitts and Nevis by : International Monetary Fund. Western Hemisphere Dept.
Download or read book St. Kitts and Nevis written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2023-03-31 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic growth rebounded strongly in 2022 despite global headwinds. GDP is estimated to have grown by 9 percent in 2022 after contracting 14.5 percent in 2020 and 0.9 percent in 2021. The lifting of all COVID-related travel restrictions in August sparked a strong rebound in the tourism sector and across the economy. Yet economic activity is not back to pre-pandemic levels. Inflation picked up, increasing from 1.9 percent in 2021 to 3.8 percent in 2022, reaching the highest level in a decade. The authorities’ proactive policy response, facilitated by the fiscal buffers accumulated from a decade of prudent fiscal policy, helped shelter domestic prices from high global energy and food prices. These measures nonetheless took a heavy toll on fiscal accounts in 2022. The primary balance ex-CBI revenue and land buybacks, an indicator of the underlying fiscal stance, deteriorated to a deficit of 17 percent of GDP (vs. 15 percent in 2021). Large CBI inflows in 2022 helped finance this expansion, keeping public debt below the ECCU regional target of 60 percent of GDP. The current account deficit is estimated to have narrowed in 2022, supported by tourism recovery.
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.
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1513511726 Total Pages :122 pages Book Rating :4.5/5 (135 download)
Book Synopsis International Monetary Fund Annual Report 2019 Financial Statements by : International Monetary Fund
Download or read book International Monetary Fund Annual Report 2019 Financial Statements written by International Monetary Fund and published by International Monetary Fund. This book was released on 2019-10-04 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: The audited consolidated financial statements of the International Monetary Fund as of April 30, 2019 and 2018
Book Synopsis The Withdrawal of Correspondent Banking Relationships by : Mrs.Michaela Erbenova
Download or read book The Withdrawal of Correspondent Banking Relationships written by Mrs.Michaela Erbenova and published by International Monetary Fund. This book was released on 2016-06-30 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on the withdrawal of correspondent banking relationships (CBRs) in some jurisdictions post-global financial crisis. It describes existing evidence and consequences of the withdrawal of CBRs and explores drivers of this phenomenon drawing on recent surveys and select country information. While the withdrawal of CBRs has reached a critical level in some affected countries, which can have a systemic impact if unaddressed, macroeconomic consequences have not been identified so far at a global level. The paper presents responses from the international community to address this phenomenon, and explains the role that the IMF has been playing in this global effort, especially with regards to supporting member countries in the context of surveillance and technical assistance, facilitating dialogue among stakeholders, and encouraging data gathering efforts. The paper concludes by suggesting policy responses by public and private sector stakeholders needed to further mitigate potential negative impacts that could undermine financial stability, inclusion, growth and development goals.
Book Synopsis The Rise of Public and Private Digital Money by : International Monetary Fund
Download or read book The Rise of Public and Private Digital Money written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-07-29 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the companion paper on the new policy challenges related to the adoption of digital forms of money, this paper presents an operational strategy for the IMF to continue delivering on its mandate of ensuring domestic and international financial and economic stability. The paper begins by summarizing the forces driving the adoption of digital forms of money, and the new policy questions that emerge. It then focusses on how the IMF’s core activities and output will need to evolve, including surveillance, capacity development, and analytical foundations. It ends by discusses how the IMF intends to partner with other organization, and to grow and structure internal resources to fulfill this vision.
Book Synopsis Uganda by : International Monetary Fund. African Dept.
Download or read book Uganda written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2024-09-11 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Uganda: Selected Issues
Book Synopsis Eastern Caribbean Currency Union by :
Download or read book Eastern Caribbean Currency Union written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Monetary Geography of Africa by : Paul R. Masson
Download or read book The Monetary Geography of Africa written by Paul R. Masson and published by Rowman & Littlefield. This book was released on 2004-11-30 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Africa is working toward the goal of creating a common currency that would serve as a symbol of African unity. The advantages of a common currency include lower transaction costs, increased stability, and greater insulation of central banks from pressures to provide monetary financing. Disadvantages relate to asymmetries among countries, especially in their terms of trade and in the degree of fiscal discipline. More disciplined countries will not want to form a union with countries whose excessive spending puts upward pressure on the central bank's monetary expansion. In T he Monetary Geography of Africa, Paul Masson and Catherine Pattillo review the history of monetary arrangements on the continent and analyze the current situation and prospects for further integration. They apply lessons from both experience and theory that lead to a number of conclusions. To begin with, West Africa faces a major problem because Nigeria has both asymmetric terms of trade—it is a large oil exporter while its potential partners are oil importers—and most important, large fiscal imbalances. Secondly, a monetary union among all eastern or southern African countries seems infeasible at this stage, since a number of countries suffer from the effects of civil conflicts and drought and are far from achieving the macroeconomic stability of South Africa. Lastly, the plan by Kenya, Tanzania, and Uganda to create a common currency seems to be generally compatible with other initiatives that could contribute to greater regional solidarity. However, economic gains would likely favor Kenya, which, unlike the other two countries, has substantial exports to its neighbors, and this may constrain the political will needed to proceed. A more promising strategy for monetary integration would be to build on existing monetary unions—the CFA franc zone in western and central Africa and the Common Monetary Area in southern Africa. Masson and Pattillo argue that the goal of a creating a s
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1498398588 Total Pages :230 pages Book Rating :4.4/5 (983 download)
Book Synopsis World Economic Outlook, April 2016 by : International Monetary Fund. Research Dept.
Download or read book World Economic Outlook, April 2016 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2016-04-12 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Major macroeconomic realignments are affecting prospects differentially across the world’s countries and regions. The April 2016 WEO examines the causes and implications of these realignments—including the slowdown and rebalancing in China, a further decline in commodity prices, a related slowdown in investment and trade, and declining capital flows to emerging market and developing economies—which are generating substantial uncertainty and affecting the outlook for the global economy. Additionally, analytical chapters examine the slowdown in capital flows to emerging market economies since their 2010 peak—its main characteristics, how it compares with past slowdowns, the factors that are driving it, and whether exchange rate flexibility has changed the dynamics of the capital inflow cycle—and assess whether product and labor market reforms can improve the economic outlook in advanced economies, looking at the recent evolution and scope for further reform, the channels through which reforms affect economic activity under strong versus weak economic conditions, reforms’ short- to medium-term macroeconomic effects, and sequencing of reforms and coordination with other policies to maximize their potential quantitative economic benefits. A special feature analyzes in depth the energy transition in an era of low fossil fuel prices.
