South Africa 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For South Africa

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South Africa: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 127 pages
Book Rating : 4.4/5 (2 download)

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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.

South Africa

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 175 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis South Africa by : International Monetary Fund. African Dept.

Download or read book South Africa written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2023-06-06 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: South Africa’s strong economic recovery from the COVID-19 pandemic is petering out. Growth moderated from 4.9 percent in 2021 to 2.0 percent in 2022 as the country was buffeted by Russia’s war in Ukraine, global monetary policy tightening, severe floods, and an unprecedented domestic energy crisis. Inflation rose above the target band though inflation expectations remained anchored. The current account moved back into a deficit after a temporary commodity-price driven surplus.

Botswana: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Botswana

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1513573047
Total Pages : 67 pages
Book Rating : 4.5/5 (135 download)

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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.

India: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1513598929
Total Pages : 89 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis India: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India by : International Monetary

Download or read book India: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India written by International Monetary and published by International Monetary Fund. This book was released on 2021-10-15 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ongoing COVID-19 pandemic has created a prolonged health crisis. Economic activity was slowing prior to the pandemic. Two COVID-19 waves have resulted in a deep and broad-based economic downturn with the potential for a longer lasting impact. The authorities have responded with fiscal policy, including scaled-up support to vulnerable groups, monetary policy easing and liquidity provision, and accommodative financial sector and regulatory policies. Despite the pandemic, the authorities have continued to implement structural reforms.

Nigeria: 2021 Article IV Consultation-Press Release; Staff Report; Staff Statement, and Statement by the Executive Director for Nigeria

Download Nigeria: 2021 Article IV Consultation-Press Release; Staff Report; Staff Statement, and Statement by the Executive Director for Nigeria PDF Online Free

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 86 pages
Book Rating : 4.4/5 (2 download)

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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.

Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1513573020
Total Pages : 104 pages
Book Rating : 4.5/5 (135 download)

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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.

Germany: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1513594435
Total Pages : 78 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Germany: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany by : International Monetary

Download or read book Germany: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany written by International Monetary and published by International Monetary Fund. This book was released on 2021-07-15 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: Germany’s economy contracted by just under 5 percent in 2020, outperforming most European peers. But renewed waves of infections and associated lockdowns caused economic activity to plunge again in the first quarter of this year. While the pace of mass vaccination has picked up and the economy has started to reopen, the recovery path is beset with risks, particularly with respect to the progress of the pandemic and supply shortages in major industries. The authorities have maintained appropriately accommodative fiscal and financial policies, and most measures supporting households and firms have been extended through 2021.

Turkey: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Turkey

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1513573179
Total Pages : 95 pages
Book Rating : 4.5/5 (135 download)

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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.

Oman: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Oman

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1513596020
Total Pages : 93 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Oman: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Oman by : International Monetary

Download or read book Oman: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Oman written by International Monetary and published by International Monetary Fund. This book was released on 2021-09-12 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sultan Haitham ascended to the throne in January 2020 and has committed to implementing strong fiscal and structural reforms to address longstanding vulnerabilities. In addition to persistent fiscal deficits arising from incomplete adjustment to lower oil prices since 2015, Oman faced twin shocks from the COVID-19 pandemic and a collapse in oil prices in 2020 that amplified fiscal and external vulnerabilities. The authorities moved rapidly to contain the spread of COVID-19 infections and provided broad-based policy measures to limit its impact on the economy. In addition, frontloaded fiscal consolidation has been implemented in the 2021 budget as part of the authorities’ Medium-Term Fiscal Plan (MTFP) which aims to eliminate the fiscal deficit over the medium term. Banks have high capital buffers and liquidity, but credit risk is a concern going forward. Structural reforms have been accelerated under Oman Vision 2040 to boost non-oil private sector growth and facilitate job creation.

Montenegro: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Montenegro: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro by : International Monetary

Download or read book Montenegro: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-24 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: COVID-19 hit the economy hard, but a strong recovery is underway. Public debt, already elevated before the pandemic, has increased further. The government has embarked on a reform program ‘Europe Now’, which aims to arrest outward migration through a sharp minimum wage increase, labor tax wedge reduction, and the introduction of a progressive tax code. The financial sector appears to have withstood the COVID-19 shock well.

Republic of Kazakhstan: 2021 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Kazakhstan

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Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4.4/5 (2 download)

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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.

Malawi: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malawi

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1616354887
Total Pages : 112 pages
Book Rating : 4.6/5 (163 download)

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Book Synopsis Malawi: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malawi by : International Monetary

Download or read book Malawi: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malawi written by International Monetary and published by International Monetary Fund. This book was released on 2021-12-20 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: Malawi, a fragile state with one of the highest incidences of poverty, food insecurity and frequent weather-related shocks, has been severely affected by the pandemic. There are signs of gradual recovery and daily COVID-19 positive cases remain relatively low: real GDP growth in 2021 is projected to pick up to 2.2 percent from 0.9 percent in 2020 helped by a good harvest. However, inflation is expected to increase to 9 percent in 2021 from 8.6 percent in 2020, driven by increases in prices of fuel, fertilizer and food, leaving real per capita growth in the negative region.

Mauritius: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Mauritius

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1513588583
Total Pages : 69 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Mauritius: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Mauritius by : International Monetary

Download or read book Mauritius: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Mauritius written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-28 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Impact of the Pandemic and Policy Responses. Mauritius has been successful in containing the COVID-19 pandemic thanks to strict health measures but the halt in tourism has significantly affected its tourism-dependent economy. A comprehensive set of stimulus measures to mitigate the economic impact of the pandemic, including a wage subsidy and income support for the self-employed, have provided support to firms and households.

Banking Reforms in Africa

Author : Agnes Olatokunbo Martins
Publisher : Taylor & Francis
ISBN 13 : 1040085865
Total Pages : 216 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis Banking Reforms in Africa by : Agnes Olatokunbo Martins

Download or read book Banking Reforms in Africa written by Agnes Olatokunbo Martins and published by Taylor & Francis. This book was released on 2024-06-28 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book comprehensively explores the intricate relationship between banking reforms, economic well-being, and poverty reduction across the African continent. Delving into the historical roots of banking reforms, it examines the resilience of banking sectors in key African countries like South Africa, Nigeria, Kenya, MENA, and beyond. The findings suggest that much attention should be paid to the design of banking systems and how banks are regulated. This focus on banks differs from many discussions on the topic, which tend to be more concerned with other policy areas such as economic policy, international trade policy, and aid. The book’s extensive and contemporary overview of banking reforms enables a comparative analysis of regulatory frameworks, supervision practices, and government interventions. It evaluates theoretical frameworks linking banking reforms to bank stability and resilience, drawing on financial intermediation, resource allocation, systemic risk, and financial development concepts. It empirically tests the causal relationships between the Basel II/III capital reforms, bank sector resilience, economic growth, and poverty reduction and identifies and analyses the channels and mechanisms through which banking reforms affect economic welfare and poverty reduction in Africa, such as credit availability, financial efficiency, financial innovation, and financial access. The book offers an insightful exploration into a brighter economic future on the African continent. The findings presented herein offer valuable insights for policymakers, researchers, and practitioners striving to enhance financial stability, foster economic growth, and alleviate poverty in Africa.

Zimbabwe: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Zimbabwe

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 120 pages
Book Rating : 4.4/5 (2 download)

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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.

Malaysia: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malaysia

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 135 pages
Book Rating : 4.4/5 (2 download)

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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.

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

Download 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 PDF Online Free

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 154 pages
Book Rating : 4.4/5 (2 download)

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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.