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Ghana 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Ghana
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Book Synopsis Ghana: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Ghana by : International Monetary
Download or read book Ghana: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Ghana written by International Monetary and published by International Monetary Fund. This book was released on 2021-07-23 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ghana has been hit hard by the pandemic. The government’s proactive response helped contain the spread of COVID-19, protecting lives and limiting the impact on economic activity. However, partly because of the pandemic, the fiscal position worsened considerably last year, with a sharp increase in public sector debt.
Book Synopsis Georgia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Georgia by : International Monetary
Download or read book Georgia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Georgia written by International Monetary and published by International Monetary Fund. This book was released on 2021-09-21 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: High frequency estimates suggest a V-shaped recovery with output now poised to return close to 2019 levels already this year, much earlier than expected. Recently COVID-19 case numbers have risen sharply to new highs while vaccinations have also accelerated significantly after a slow start. The recovery has improved the fiscal outlook and the authorities submitted to Parliament a supplementary budget, with GEL 1.2 billion in additional spending roughly equivalent to the expected increase in revenues. The National Bank of Georgia (NBG) has increased the policy rate by 200 basis points to deal with high inflation driven by lagging effects of depreciation, commodity and food price increases, and supply side constraints.
Book Synopsis Guinea: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guinea by : International Monetary
Download or read book Guinea: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guinea written by International Monetary and published by International Monetary Fund. This book was released on 2021-07-06 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the non-mining sector was severely impacted by the COVID-19 crisis, overall growth in Guinea remains strong, reaching 7 percent in 2020, driven by booming mining production. Inflation exceeded 12 percent as a result of COVID-related supply disruptions and the ongoing monetary and fiscal response. The already weak social indicators have deteriorated further.
Book Synopsis Guinea: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guinea by : International Monetary
Download or read book Guinea: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guinea written by International Monetary and published by International Monetary Fund. This book was released on 2021-11-03 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the non-mining sector was severely impacted by the COVID-19 crisis, overall growth in Guinea remains strong, reaching 7 percent in 2020, driven by booming mining production. Inflation exceeded 12 percent as a result of COVID-related supply disruptions and the ongoing monetary and fiscal response. The already weak social indicators have deteriorated further.
Download or read book Guinea written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Nigeria: 2021 Article IV Consultation-Press Release; Staff Report; Staff Statement, and Statement by the Executive Director for Nigeria by : International Monetary
Download or read book Nigeria: 2021 Article IV Consultation-Press Release; Staff Report; Staff Statement, and Statement by the Executive Director for Nigeria written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-09 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economy is recovering from a historic downturn thanks to policy support, rebounding oil prices and international financial assistance. Benefiting from the authorities’ pro-active approach, COVID-19 infection rates and fatalities have been contained. With higher oil prices and the country entering into the 2023 Presidential election cycle, there are risks of delays in much needed fiscal and exchange rate reforms. Macroeconomic and structural policies should build confidence and ensure a robust exit from the crisis.
Download or read book Algeria written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Algeria: 2021 Article IV Consultation-Press Release; and Staff Report; and Statement by the Executive Director for Algeria by : International Monetary
Download or read book Algeria: 2021 Article IV Consultation-Press Release; and Staff Report; and Statement by the Executive Director for Algeria written by International Monetary and published by International Monetary Fund. This book was released on 2021-12-02 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concomitant Covid-19 pandemic and oil price shock in 2020 have taken a heavy toll on the Algerian economy and the population. The authorities’ response helped mitigate the social and economic impact of the crisis. Nevertheless, the crisis exacerbated the Algerian economy’s vulnerabilities, making even more urgent the need for a new, more inclusive and sustainable, growth model. A recovery is underway in 2021, but the outlook remains challenging. While the recent rebound in hydrocarbon prices should buoy the recovery and ease immediate financing constraints, addressing long-standing structural challenges will help to realize Algeria’s vast growth potential for the benefit of its population.
Book Synopsis Ghana by : International Monetary Fund. African Dept.
Download or read book Ghana written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2024-01-25 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: Large external shocks in recent years exacerbated pre-existing fiscal and debt vulnerabilities, resulting in an acute crisis in 2022. In response, the authorities have adjusted macroeconomic policies, made significant progress on a comprehensive debt restructuring, and launched wide-ranging reforms. These efforts are bearing fruit, and signs of economic stabilization are emerging. Growth in 2023 has proven resilient, inflation has declined, and the fiscal and external positions have improved. Nonetheless, fully and durably restoring macroeconomic stability and debt sustainability and fostering a sustainable increase in economic growth and poverty reduction will require steadfast policy and reform implementation.
Book Synopsis Philippines: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Philippines by : International Monetary
Download or read book Philippines: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Philippines written by International Monetary and published by International Monetary Fund. This book was released on 2021-08-06 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economy is recovering after a major, pandemic-induced economic downturn. The authorities have deployed a comprehensive set of policy responses that have helped to mitigate the socioeconomic impact and maintain financial stability. The economic recovery slowed in the first half of 2021 due to a second wave of COVID-19 infections. Vaccination has started and is poised to accelerate from midyear.
Book Synopsis Turkey: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Turkey by : International Monetary
Download or read book Turkey: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Turkey written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-11 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Turkey, as in other countries, the human and economic toll of the COVID-19 pandemic has been severe. Thousands of lives have been tragically lost and many livelihoods compromised. The initial policy response to the pandemic—and subsequent sharp growth rebound—set Turkey apart from its peers. Rapid monetary and credit expansion and large liquidity support meant that Turkey was among the few countries to experience positive economic growth in 2020. But these policies also aggravated pre-existing economic and financial vulnerabilities. Higher inflation, increased dollarization, and a large shift in the current account position increased pressure on the lira and gave rise to heavy foreign exchange sales, which led in turn to steep reserve declines from already-low levels. A policy shift in late 2020—mainly towards tighter and more transparent monetary policy and slower credit growth—was both welcome and necessary. But the durability and depth of the shift were called into question in March 2021, following the change in central bank leadership, as the lira weakened markedly and interest rate spreads widened.
Book Synopsis Australia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Australia by : International Monetary
Download or read book Australia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Australia written by International Monetary and published by International Monetary Fund. This book was released on 2021-12-06 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strong health and economic policies allowed for quick economic recovery from initial COVID-19-related lockdowns in 2020. Renewed outbreaks and lockdowns have created setbacks since mid-2021, with disproportionate impacts on some regions, sectors, and workers. Accommodative macroeconomic policies have been instrumental in cushioning the economic impact.
Book Synopsis South Africa: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa by : International Monetary
Download or read book South Africa: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-11 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: South Africa’s subpar economic performance over the last decade has weakened its macroeconomic fundamentals and social indicators. In response to formidable COVID-19-related challenges, government expenditure surged, and, amid declining revenue, the budget deficit widened significantly. The South African Reserve Bank (SARB) and the Prudential Authority (PA) preserved adequate liquidity conditions and financial-sector stability. The cyclical recovery from the deep contraction has been faster than expected but its strength is unlikely to be sustained. Benign global market conditions have supported asset performance, although term premia are elevated due to fiscal risks. Bank soundness indicators remain solid, but a deepening bank-sovereign nexus raises some concerns.
Book Synopsis Algeria: 2021 Article IV Consultation-Press Release; and Staff Report; and Statement by the Executive Director for Algeria by : International Monetary
Download or read book Algeria: 2021 Article IV Consultation-Press Release; and Staff Report; and Statement by the Executive Director for Algeria written by International Monetary and published by International Monetary Fund. This book was released on 2021-12-23 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concomitant Covid-19 pandemic and oil price shock in 2020 have taken a heavy toll on the Algerian economy and the population. The authorities’ response helped mitigate the social and economic impact of the crisis. Nevertheless, the crisis exacerbated the Algerian economy’s vulnerabilities, making even more urgent the need for a new, more inclusive and sustainable, growth model. A recovery is underway in 2021, but the outlook remains challenging. While the recent rebound in hydrocarbon prices should buoy the recovery and ease immediate financing constraints, addressing long-standing structural challenges will help to realize Algeria’s vast growth potential for the benefit of its population.
Book Synopsis Republic of Congo: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Congo by : International Monetary
Download or read book Republic of Congo: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Congo written by International Monetary and published by International Monetary Fund. This book was released on 2021-10-05 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic and oil price shocks have taken a deep toll on the Congolese economy, weighing on incomes and inequality. Debt sustainability challenges precluded Fund financial assistance during the pandemic, and the Extended Credit Facility (ECF) arrangement, approved in 2019, expired in April 2021 without having completed the first review. Recently, debt sustainability has been restored owing to the authorities’ debt restructuring strategy and current and projected higher oil prices. However, the risk of debt distress remains high given liquidity risks and vulnerabilities to negative oil price shocks. The authorities are actively negotiating the resolution of pending external arrears. Until this process is concluded and the negotiations with two external creditors are finalized, debt is classified as being “in distress.”
Book Synopsis Oil and Climate Change in the Guyana-Suriname Basin by : Ivelaw Lloyd Griffith
Download or read book Oil and Climate Change in the Guyana-Suriname Basin written by Ivelaw Lloyd Griffith and published by Taylor & Francis. This book was released on 2024-06-03 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is about oil and gas dynamics in the world’s newest petro-powers-in-the-making, and the attempts to balance this against the impact of climate change. The known oil reserves in the Guyana-Suriname Basin total some 30 billion barrels equivalent, and the gas reserves exceed 30 trillion cubic feet. This massive offshore discovery amounts to 10 percent of the world’s conventional oil, but Guyana and Suriname are also in a wet neighborhood, where the impact of climate change stands to wreak havoc on the area and undermine some of the oil gains. Examining the political economy of petroleum production and some of the myriad challenges and opportunities involved, the expert contributors discuss the global and regional geopolitical and national security ramifications of the petroleum pursuits and explore global climate change dynamics and their effects on the region. This title will be of interest to students, scholars of international political economy, environmental politics, and the Caribbean. It will also be invaluable to policymakers in countries with business investments in Guyana and Suriname, especially in the energy sector, and policy and operational staffs in regional and international organizations and companies.
Book Synopsis Botswana: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Botswana by : International Monetary
Download or read book Botswana: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Botswana written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-02 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Botswana entered the COVID-19 crisis with larger buffers than most countries, but significantly less than in the past. The country was contending with structural challenges, persistent negative external shocks and delays in adjustment that had already caused a significant weakening of international reserves coverage and the fiscal position amid high unemployment. The pandemic exacerbated these challenges causing a sharp GDP contraction, among the strongest in SSA and a widening in the current account deficit. Foreign exchange reserves dropped further, though still remaining well above adequate levels. The fiscal deficit widened significantly as the government sought to counter the economic impact of the COVID-19 crisis, and implemented a sizeable public wage increase agreed in 2019. The deficit was financed partially by drawing down on the Government Investment Account.
