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Kuwait 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Kuwait
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Book Synopsis Kuwait: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Kuwait by : International Monetary
Download or read book Kuwait: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Kuwait written by International Monetary and published by International Monetary Fund. This book was released on 2022-03-28 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sustained political gridlock has hobbled reforms and increased macroeconomic vulnerabilities, but a new high-level effort offers hope for resolving the impasse. The authorities have been preparing a comprehensive reform plan which, if adopted by parliament, would pave the way to address the structural and fiscal imbalances in the economy and promote sustainable and inclusive growth. The authorities responded swiftly and decisively to the COVID-19 crisis with social distancing restrictions and fiscal, monetary, and financial policy support measures. In 2021, a high rate of vaccination was achieved, although there has been a major surge in infections with the recent arrival of the Omicron variant. A nascent economic recovery is underway, supported by higher oil prices and some relaxation of mobility restrictions. However, substantial uncertainties to the economic outlook underscore the importance of phasing out COVID-19 relief measures at a measured pace as the economy recovers, and of accelerating the reform momentum to limit risks and rebuild buffers. Banks entered the crisis from a position of strength and have remained well capitalized and highly liquid.
Book Synopsis Republic of Kazakhstan: 2021 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Kazakhstan by : International Monetary
Download or read book Republic of Kazakhstan: 2021 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Kazakhstan written by International Monetary and published by International Monetary Fund. This book was released on 2022-04-11 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Activity returned to its pre-COVID level in 2021. Inflation remains well above the NBK’s 4–6 percent target band, and spillovers from sanctions on Russia will exacerbate price pressures and weaken economic growth in 2022. Kazakhstan benefits from strong fiscal and external buffers but risks to the outlook are elevated due to the uncertain impact on Kazakhstan of the sanctions on Russia and heightened domestic tensions since the January social unrest episode. In the medium term, non-oil growth under the baseline is expected to converge to about 4 percent. Sustainable growth will require greater economic diversification. Climate-related challenges are acute for Kazakhstan given its outsized hydrocarbon sector, high per-capita greenhouse gas emissions, and low domestic energy prices.
Book Synopsis Kuwait: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Kuwait by : International Monetary
Download or read book Kuwait: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Kuwait written by International Monetary and published by . This book was released on 2022-03-28 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Kuwait: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Kuwait
Book Synopsis Trinidad and Tobago: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Trinidad and Tobago by : International Monetary
Download or read book Trinidad and Tobago: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Trinidad and Tobago written by International Monetary and published by International Monetary Fund. This book was released on 2022-03-10 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trinidad and Tobago faced unprecedented challenges in 2020–21. The combined effects of COVID-19 and energy production and price shocks pushed the economy further into recession. A decisive policy response helped contain the virus spread and protect lives and livelihoods. The fiscal position worsened due to significant tax revenues shortfalls, pushing public debt up. The vaccination pace accelerated recently, but vaccine hesitancy remains high, amid a potential new wave of infections.
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 Bangladesh: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bangladesh by : International Monetary
Download or read book Bangladesh: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bangladesh written by International Monetary and published by International Monetary Fund. This book was released on 2022-03-07 with total page 107 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since independence, Bangladesh has achieved impressive economic growth and social development, making steady progress in reducing poverty and significant improvements in living standards. The COVID-19 pandemic interrupted this long period of robust economic performance, deepening some earlier vulnerabilities. Stagnating job growth, rising inequality, and slowing poverty reduction remain challenges. Revenues are low, and financial sector vulnerabilities continue to be high. Substantial productive investment in infrastructure, human capital, and climate resilience is needed to achieve the authorities’ aspiration to reach the upper-middle income status in 2031.
Author :International Monetary Fund. Middle East and Central Asia Dept. Publisher :International Monetary Fund ISBN 13 :1498306357 Total Pages :83 pages Book Rating :4.4/5 (983 download)
Book Synopsis Kuwait by : International Monetary Fund. Middle East and Central Asia Dept.
Download or read book Kuwait written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2019-04-02 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Article IV Consultation highlights that growth has strengthened, and fiscal and external positions improved due to higher oil prices. The increased uncertainty about oil price prospects though underscores the need to reduce dependence on oil and increase savings for the future. The key priority is to build national consensus around equitable and well-sequenced reforms to underpin fiscal consolidation and promote the private sector. While authorities’ efforts to strengthen the fiscal accounts are welcomed, more ambitious reforms will be needed to secure adequate savings for future generations and reduce financing needs. Reforming the public wage bill, subsidies, and transfers, raising non-oil revenue, and enhancing the fiscal policy framework and governance are expected to support fiscal consolidation and increase the efficiency of spending on human and physical capital. Creating jobs for the large number of nationals joining the labor force over the next decade hinges on the emergence of a vibrant private sector.
Author :International Monetary Fund. Middle East and Central Asia Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :83 pages Book Rating :4.4/5 (2 download)
Book Synopsis Kuwait by : International Monetary Fund. Middle East and Central Asia Dept.
Download or read book Kuwait written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2023-09-18 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Benefiting from high oil prices, Kuwait’s economic recovery continues, and the fiscal and external balances have strengthened. Inflation is contained and external buffers are increasing. However, structural challenges persist. The dominance of oil in Kuwait’s economy coupled with global decarbonization trends underscore the urgency for economic diversification and structural transformation, and the pursuit of fiscal reforms to reinforce sustainability.
Book Synopsis Zimbabwe: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Zimbabwe by : International Monetary
Download or read book Zimbabwe: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Zimbabwe written by International Monetary and published by International Monetary Fund. This book was released on 2022-04-08 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: Zimbabwe experienced severe exogenous shocks (cyclone Idai, protracted drought, and the COVID-19 pandemic) during 2019-20, which along with policy missteps in 2019, led to a deep recession and high inflation. Real GDP contracted cumulatively by 11.7 percent during 2019-20 and inflation reached 837 percent (y/y) by July 2020. Reflecting good rainfall and relaxation of containment measures, real GDP rose by 6.3 percent in 2021. A tighter policy stance since mid-2020 (relative to 2019) has contributed to reducing inflation to 60.7 percent (y/y) at end-2021. However, high double-digit inflation and wide parallel foreign exchange (FX) market premia persist. The economic downturn and high inflation increased the financial system vulnerabilities. Extreme poverty has risen and about a third of the population is at risk of food insecurity. The international community seeks improvements in domestic political conditions and economic policies to initiate reengagement with Zimbabwe. The authorities have started token payments to external creditors in a bid to revive international reengagement.
Book Synopsis Malaysia: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malaysia by : International Monetary
Download or read book Malaysia: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malaysia written by International Monetary and published by International Monetary Fund. This book was released on 2022-04-28 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: Malaysia’s economy is showing signs of a gradual yet steady recovery thanks to the authorities’ impressive vaccine rollout, swift and coordinated implementation of multi-pronged support measures. The recovery nevertheless remains uneven and the output gap sizeable, with significant downside risks. Going forward, the authorities should calibrate macroeconomic policies to the pace of the recovery, while preserving policy space given pandemic-related uncertainties, and simultaneously accelerate structural reforms.
Author :International Monetary Fund. Middle East and Central Asia Dept. Publisher :International Monetary Fund ISBN 13 :1475520077 Total Pages :104 pages Book Rating :4.4/5 (755 download)
Book Synopsis Islamic Republic of Mauritania by : International Monetary Fund. Middle East and Central Asia Dept.
Download or read book Islamic Republic of Mauritania written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2016-05-12 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Uganda: 2021 Article IV Consultation and First Review Under the Extended Credit Facility Arrangement and Requests for Modifications of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Uganda by : International Monetary
Download or read book Uganda: 2021 Article IV Consultation and First Review Under the Extended Credit Facility Arrangement and Requests for Modifications of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Uganda written by International Monetary and published by International Monetary Fund. This book was released on 2022-03-15 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authorities have reacted to the COVID-19 crisis in an appropriate manner, including through increased spending on health and a rollout of the vaccination program. Nevertheless, the deterioration of socio-economic indicators during the pandemic could create scars that would significantly lower growth if left unaddressed.
Book Synopsis Kuwait, Staff Report for the ... Article IV Consultation by :
Download or read book Kuwait, Staff Report for the ... Article IV Consultation written by and published by . This book was released on 2009 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Islamic Republic of Mauritania by : International Monetary
Download or read book Islamic Republic of Mauritania written by International Monetary and published by International Monetary Fund. This book was released on 2023-02-03 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volatile commodity prices and a tightly managed exchange rate (ER) have led to boom and bust cycles with significant impacts on the public and financial sectors. While the previous Extended Credit Facility (ECF) arrangement (December 2017—March 2021) has helped maintain macroeconomic stability, the pandemic has delayed structural reform implementation and widened the gap to reach the Sustainable Development Goals (SDGs). In addition, surging international commodity prices since the start of Russia’s war in Ukraine have deteriorated the external and fiscal balances and led to inflationary pressures and food insecurity. In March 2021, the authorities requested a successor arrangement to support accelerated implementation of their national development strategy, help increase social and infrastructure spending, and improve governance and the business environment.
Book Synopsis Burundi by : International Monetary Fund. African Dept.
Download or read book Burundi written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2022-07-29 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: Burundi’s economy has shown resilience to the COVID-19 and Ukraine war shocks. Prior to the pandemic, the economy was recovering from the political and security crisis that followed late President Nkurunziza’s decision to run for a third term in 2015, with growth close to 2 percent in 2019. Difficult macroeconomic policy challenges persisted, nevertheless. The pandemic has taken a toll on the post-conflict fragile country, but COVID-19 contagion remained fairly contained and growth was positive. The war in Ukraine is compounding the adverse effects of the pandemic, with deteriorating terms of trade and the resulting domestic inflation threatening already-challenging living standards. Sanctions from the U.S. and E.U.—legacy of the 2015 crisis—have now been lifted. The U.N. Security Council ended mandatory reporting in Burundi and the country has reengaged with the international community. The 2022 Article IV consultation seals the full reengagement with the IMF—the last one was concluded in 2014.
Book Synopsis Timor-Leste: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Timor-Leste by : International Monetary
Download or read book Timor-Leste: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Timor-Leste written by International Monetary and published by International Monetary Fund. This book was released on 2021-07-14 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although Timor-Leste has made considerable progress in many areas since its independence in 2002, it faces significant medium-term challenges. The nation has pressing development needs, young institutions, and is highly dependent on oil. Oil revenues from active fields, which have been the main source of funding for government spending, are drying up. The non-oil private sector economy remains underdeveloped and lack of good jobs and high youth unemployment are serious concerns.
Book Synopsis Central African Republic by : International Monetary Fund. African Dept.
Download or read book Central African Republic written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2023-05-02 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: CAR is on the brink of a humanitarian crisis with acute food insecurity and access to health care drastically impaired. Social tensions have ratcheted up, including strikes in various sectors, on the back of a cost-of-living crisis triggered by the Russian invasion of Ukraine. Political tensions have also escalated from the President’s plans of a third mandate requiring revisions to the constitution. The 2021 suspension of budget support—which deprived the government of 5 percent of GDP in financing—is now constraining, following the erosion of buffers, including the 2021 SDR allocation. The protracted balance of payment need is preventing the authorities from delivering basic public services to an already afflicted population. Against this backdrop, the authorities have requested Fund financing assistance.
