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Singapore 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Singapore
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Book Synopsis Singapore: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Singapore by : International Monetary
Download or read book Singapore: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Singapore written by International Monetary and published by International Monetary Fund. This book was released on 2021-07-16 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Singapore entered the COVID-19 pandemic with sizable policy space and robust economic policy frameworks, yet facing longer-term challenges. The economy has been severely impacted by the pandemic, but a bold, comprehensive, and coordinated policy package has helped cushion the economic fallout. Following a record contraction in the first half of 2020, activity has rebounded, and growth is projected to strengthen to 6 percent in 2021, underpinned by a recovery in domestic demand and a positive contribution from net exports. The uncertainty surrounding the outlook is larger than usual.
Author :International Monetary Fund. Asia and Pacific Dept Publisher :International Monetary Fund ISBN 13 : Total Pages :109 pages Book Rating :4.4/5 (2 download)
Book Synopsis Singapore by : International Monetary Fund. Asia and Pacific Dept
Download or read book Singapore written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2023-08-29 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: Singapore’s post pandemic recovery is nearly complete; underpinned by its strong economic fundamentals and the authorities’ decisive policies. While overall output surpassed pre-COVID levels in 2021, the growth momentum has slowed and activities in consumer-facing (except retail) and construction sectors remain below pre-pandemic levels. Inflation remains elevated but has started moderating. Risks to the outlook are tilted to the downside, arising mainly from an abrupt global slowdown or a recession in Singapore’s largest trading partners, tighter global financial conditions, and a deepening of geoeconomic fragmentation.
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.
Author :International Monetary Fund. Asia and Pacific Dept Publisher :International Monetary Fund ISBN 13 :1498326668 Total Pages :95 pages Book Rating :4.4/5 (983 download)
Book Synopsis Singapore by : International Monetary Fund. Asia and Pacific Dept
Download or read book Singapore written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2019-07-15 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2019 Article IV Consultation with Singapore analyses that Singapore’s growth is expected to continue to moderate as export momentum slows and growth drivers shift back to domestic demand. Risks to the near-term outlook are tilted to the downside and arise mainly from external sources. Over the medium term, modern services are expected to become increasingly important in driving growth. The report highlights that policies should be geared toward addressing the challenges to growth and inequality posed by shifts in the global economy, aging, and technological change, which could also promote external rebalancing. Policies have been aimed at boosting growth while promoting greater equity. The authorities are implementing measures to turn Singapore into a global innovation hub, redoubling efforts to boost labor productivity through investment in human, physical and organizational capital, and digitalization. Singapore is also emerging as a regional leader in fintech, supported by Monetary Authority of Singapore. Meanwhile, social policies are being updated, with the aim of raising wages and standards of living for lower-skilled Singaporeans.
Author :International Monetary Fund. Asia and Pacific Dept Publisher :International Monetary Fund ISBN 13 :1484371348 Total Pages :100 pages Book Rating :4.4/5 (843 download)
Book Synopsis Singapore by : International Monetary Fund. Asia and Pacific Dept
Download or read book Singapore written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2018-07-27 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Singapore’s economy is on a strong cyclical upswing. Economic growth has recovered to a three-year high, led by externally-oriented sectors that benefitted from the synchronized global expansion. Economic momentum is becoming more broad-based, helping to reduce the labor market slack. Growth is expected at or above the potential rate in the near term, increasingly supported by domestic demand. Inflation is subdued but expected to rise modestly. The current account surplus, as a share of GDP, has remained large. Risks to the near-term outlook are broadly balanced and come mainly from external sources. Over the medium term, the structural transformation aimed to prepare Singapore for challenges from technological changes globally and population aging at home should help support higher productivity.
Author :International Monetary Fund. Asia and Pacific Dept Publisher :International Monetary Fund ISBN 13 :1475521049 Total Pages :124 pages Book Rating :4.4/5 (755 download)
Book Synopsis Singapore by : International Monetary Fund. Asia and Pacific Dept
Download or read book Singapore written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2016-07-29 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2016 Article IV Consultation highlights that Singapore’s economy continues to perform well despite being hit by a combination of cyclical and structural factors, originating both at home and abroad. Growth moderated from 3.3 percent in 2014 to 2 percent in 2015, and it was 2.2 percent in the first half of 2016. Unemployment has remained low, but net employment generation slowed rapidly in 2015, and headline inflation has stayed below zero since late 2014. Growth is projected to moderate slightly to 1.7 percent in 2016 as the full impact of the global shocks experienced in 2015 is felt, and is expected to recover to 2.2 percent in 2017.
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.
Author :International Monetary Fund. Asia and Pacific Dept Publisher :INTERNATIONAL MONETARY FUND ISBN 13 : Total Pages :0 pages Book Rating :4.4/5 (2 download)
Book Synopsis Singapore by : International Monetary Fund. Asia and Pacific Dept
Download or read book Singapore written by International Monetary Fund. Asia and Pacific Dept and published by INTERNATIONAL MONETARY FUND. This book was released on 2022-07-21 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Singapore registered one of the most impressive recoveries from the pandemic, with economic output having surpassed pre-crisis levels at end-2021. This was spurred by the country’s strong economic fundamentals, an impressive vaccination rollout, and the authorities’ decisive policy responses. However, the recovery has been uneven with activities in tourism-related, consumer-facing and construction sectors remaining well below pre-pandemic levels. Inflation has risen rapidly due to higher food and energy, private transport, and housing prices, but inflation expectations remain well anchored. Risks to the outlook are tilted to the downside, arising mainly from the war in Ukraine and the related sanctions, the pandemic, China’s growth slowdown, and monetary policy normalization in advanced economies.
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 Brunei Darussalam: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brunei Darussalam by : International Monetary
Download or read book Brunei Darussalam: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brunei Darussalam written by International Monetary and published by International Monetary Fund. This book was released on 2021-09-20 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brunei’s economic performance—which was strong before the COVID-19 pandemic—has been buffeted by the health crisis and a pandemic-induced oil and gas price shock. The authorities responded fast and decisively. The number of new infections was quickly suppressed, thanks to a swift public health response, effective health measures and non-pharmaceutical interventions. Strong fiscal and regulatory policy responses helped sustain production and household income and consumption. Past diversification efforts and reforms bore fruit when it was most needed. As a result, the economy performed strongly in 2020, with real GDP posting positive growth of 1.1 percent—a rare outcome amidst negative growth in the region. Economic activity is projected to strengthen in 2021-22, albeit at varying speeds across sectors, and to continue improving over the medium term on the back of further diversification. The outlook is, however, subject to unusual uncertainty, with significant risks skewed to the downside. Sustained strong policy actions are needed to ensure continued resilience, while nurturing green, digital and inclusive growth.
Book Synopsis Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand by : International Monetary
Download or read book Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-03 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: A nascent recovery is underway in Thailand following the COVID-19 downturn. Ample policy buffers, underpinned by judicious management of public finances, allowed the authorities to implement a multipronged package of fiscal, monetary, and financial policies to mitigate the COVID-19 impact on households, businesses, and the financial system. This, together with rigorous containment measures, led to a successful flattening of the infection curve during most of 2020. Nevertheless, the pandemic has taken a large toll on the economy, potentially inducing long-term scarring and increasing inequality.
Author :International Monetary Fund. Asia and Pacific Dept Publisher :International Monetary Fund ISBN 13 :1484312910 Total Pages :67 pages Book Rating :4.4/5 (843 download)
Book Synopsis Singapore by : International Monetary Fund. Asia and Pacific Dept
Download or read book Singapore written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2017-07-31 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: A cyclical upswing in growth is under way driven by goods trade. But improved momentum has yet to extend beyond the export-oriented sectors, and structural headwinds to growth from aging, tighter foreign worker policies, and slow productivity growth remain. Inflation has turned positive after two years of subzero readings and the financial cycle is firming. Singapore’s external position continues to be substantially stronger than warranted by medium-term fundamentals and desired policies. Risks to the outlook are broadly balanced. Being highly open to trade and financial flows, Singapore stands to benefit from improving global sentiment. But more inward-looking policies in major economies and slowdowns in emerging economies would have an adverse impact. Domestic risks mainly relate to elevated household and corporate sector leverage, and the disruptive potential of economic restructuring through new technologies and automation for employment and inequality.
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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 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 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 Panama: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Panama by : International Monetary
Download or read book Panama: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Panama written by International Monetary and published by International Monetary Fund. This book was released on 2021-07-30 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: After over two decades of unprecedented economic expansion, Panama’s economy contracted sharply in 2020 amidst challenges from the COVID-19 pandemic. As conditions rapidly deteriorated, Panama requested financial support under the Rapid Financing Instrument (RFI) for 100 percent of quota equivalent to US$0.5 billion (SDR 0.4 billion) to address immediate balance of payments needs, which the IMF Executive Board approved on April 15, 2020. Subsequently, uncertainties magnified, and Panama requested a two-year arrangement under the Precautionary and Liquidity Line (PLL) for 500 percent of quota, equivalent to US$2.7 billion (SDR 1.9 billion), as insurance against extreme external shocks, which was approved by the IMF Executive Board on January 19, 2021.
