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2022 Update Of The External Balance Assessment Methodology
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Book Synopsis 2022 Update of the External Balance Assessment Methodology by : Mr. Cian Allen
Download or read book 2022 Update of the External Balance Assessment Methodology written by Mr. Cian Allen and published by International Monetary Fund. This book was released on 2023-03-03 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The assessment of external positions and exchange rates of member countries is a key mandate of the IMF. The External Balance Assessment (EBA) methodology has provided the framework for conducting external sector assessments by Fund staff since its introduction in 2012. This paper provides the latest version of the EBA methodology, updated in 2022 with additional refinements to the current account and real exchange rate regression models, as well as updated estimates for other components of the EBA methodology. The paper also includes an assessment of how estimated current account gaps based on EBA are associated with future external adjustment.
Book Synopsis The External Balance Assessment (EBA) Methodology by : Mr.Steven Phillips
Download or read book The External Balance Assessment (EBA) Methodology written by Mr.Steven Phillips and published by International Monetary Fund. This book was released on 2014-01-13 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The External Balance Assessment (EBA) methodology has been developed by the IMF’s Research Department as a successor to the CGER methodology for assessing current accounts and exchange rates in a multilaterally consistent manner. Compared to other approaches, EBA emphasizes distinguishing between the positive empirical analysis and the normative assessment of current accounts and exchange rates, and highlights the roles of policies and policy distortions. This paper provides a comprehensive description and discussion of the 2013 version (“2.0”) of the EBA methodology, including areas for its further development.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :116 pages Book Rating :4.4/5 (2 download)
Book Synopsis External Sector Report 2022 by : International Monetary Fund. Research Dept.
Download or read book External Sector Report 2022 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2022-08-04 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global current account balances—the overall size of current account deficits and surpluses—continued to widen in 2021 to 3.5 percent of world GDP, and are expected to widen again this year. The IMF’s multilateral approach suggests that global excess balances narrowed to 0.9 percent of world GDP in 2021 compared with 1.2 percent of world GDP in 2020. The pandemic has continued to affect economies’ current account balances unevenly through the travel and transportation sectors as well as a shift from services to goods consumption. Commodity prices recovered from the COVID-19 shock and started rising in 2021 with opposite effects on the external position of exporters and importers, a trend that the war in Ukraine is exacerbating in 2022. The medium-term outlook for global current account balances is a gradual narrowing as the impact of the pandemic fades away, commodity prices normalize, and fiscal consolidation in current account deficit economies progresses. However, this outlook is highly uncertain and subject to several risks. Policies to promote external rebalancing differ with positions and needs of individual economies.
Book Synopsis Dominant Drivers of Current Account Dynamics by : Lukas Boer
Download or read book Dominant Drivers of Current Account Dynamics written by Lukas Boer and published by International Monetary Fund. This book was released on 2024-04-26 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate shocks that explain most of the variation in the current account at business cycle frequencies and over the long run. We then explore, using a standard open-economy macro model, which macroeconomic shocks are behind the empirical dominant drivers of the current account at business-cycle frequency. Rather than financial shocks or aggregate shocks to supply or demand, shocks to the relative demand between home and foreign goods are found to play a pivotal role in current account dynamics.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 : Total Pages :68 pages Book Rating :4.4/5 (2 download)
Book Synopsis 2024 Staff Guidance Note On The IMF’s Engagement With Small Developing States by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book 2024 Staff Guidance Note On The IMF’s Engagement With Small Developing States written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2024-07-25 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This guidance note provides operational guidance on the Fund’s engagement with small developing states (SDS). It highlights the unique economic characteristics and constraints facing SDS, notably in a more shock-prone world. Building on advice that applies to the full membership, the note explains how the characteristics of SDS shape Fund surveillance, financial support and program design, capacity development (CD), and collaboration with other institutions and donors. The note updates the previous version that was published in December 2017.
Author :International Monetary Fund. Middle East and Central Asia Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :94 pages Book Rating :4.4/5 (2 download)
Book Synopsis Algeria by : International Monetary Fund. Middle East and Central Asia Dept.
Download or read book Algeria written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2024-04-12 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Algerian economy was still emerging from the Covid pandemic when it was hit by spillovers from Russia’s war in Ukraine and by recurrent droughts. These shocks fueled inflation while high international hydrocarbon prices also boosted government revenue and exports. Algeria’s economy likely recorded a robust growth in 2023 and the external position remained solid, with a current account surplus for the second year in a row and further accumulation of international reserves. Inflation remains elevated and could become entrenched. The 2023–24 budgets aim at supporting the purchasing power of households but risk depleting the buffers that protect the budget from revenue volatility. Structural reforms are advancing with the enactment of the Monetary and Banking law and the implementation of program budgeting and the 2022 Investment Law. Investment in digitalization would strengthen governance and transparency, reduce corruption risks, and improve service delivery.
Book Synopsis Japan: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Japan by : International Monetary
Download or read book Japan: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Japan written by International Monetary and published by International Monetary Fund. This book was released on 2022-04-06 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pre-COVID-19, economic policies under “Abenomics” helped ease financial conditions, exit deflation, and raise labor market participation, but fell short on the deep reforms needed to raise productivity and achieve inclusive and sustainable growth. The Japanese economy is now recovering from the pandemic amid strong policy support that has helped to mitigate the downturn. Japan had substantially lower rates of COVID-related infections and deaths than most advanced economies.
Book Synopsis Central and Eastern European Economies and the War in Ukraine by : László Mátyás
Download or read book Central and Eastern European Economies and the War in Ukraine written by László Mátyás and published by Springer Nature. This book was released on 2024 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: Zusammenfassung: This book takes stock of and analyses the direct and indirect effects of the war in Ukraine, the policy response to the shock across countries, as well as the potential medium-term economic and social implications and policy challenges. The last decade most Central and Eastern European (CEE) economies have been on a convergence path towards the EU average according to the main economic indicators. In 2022, however, the terrible war in Ukraine had major spillovers to the rest of the world, with the CEE economies being among the most exposed. The millions of refugees, the disruptions to energy supply, trade and supply chains, the surge in inflation, the tightening of global financial conditions, and elevated uncertainty created a radically new economic and social environment in these countries. The volume covers the economic effects of these challenges, the policy options available, and also those related to the eventual reconstruction of Ukraine, including the potential role of the CEE countries. Based on data and evidence-supported policy analysis, each chapter studies the impact of the shock on a particular area of the economy and makes general and country-specific policy recommendations. This makes this book a must-read for students, scholars, and researchers of economics and neighboring disciplines, as well as policy-makers interested in a better understading of the direct and indirect effects of the war in Ukraine on the CEE countries. The book is a sequel to the volume Emerging European Economies after the Pandemic, (Springer Nature, January 2022). Chapter "Economic Growth & Resilience" is available open access under a Creative Commons Attribution 4.0 International License via link.springer.com.
Author :International Monetary Fund. European Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :29 pages Book Rating :4.4/5 (2 download)
Book Synopsis Romania by : International Monetary Fund. European Dept.
Download or read book Romania written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2022-09-26 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selected Issues
Book Synopsis An Extended Quarterly Projection Model for the Central Bank of Jordan by : Adel Al-Sharkas
Download or read book An Extended Quarterly Projection Model for the Central Bank of Jordan written by Adel Al-Sharkas and published by International Monetary Fund. This book was released on 2023-08-25 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Central Bank of Jordan (CBJ) has developed a Forecasting and Policy Analysis System (FPAS) to serve as a reliable analytical framework for macroeconomic analysis, forecasting and decision-making under a pegged exchange rate regime. At the heart of the FPAS is the CBJ’s extended Jordan Analysis Model (JAM2.0). The model captures the monetary transmission mechanism and provides a consistent monetary policy framework that uses the exchange rate as an effective nominal anchor. This paper outlines the structure and properties of JAM2.0 and emphasizes the enhanced interplay and tradeoffs among monetary, fiscal, and foreign exchange management policies. Simulation and forecasting exercises demonstrate JAM2.0’s ability to match key stylized facts of the Jordanian economy, produce accurate forecasts of important macroeconomic variables, and explain the critical relationships among policies.
Book Synopsis Review of Institutional Safeguards by : International Monetary Fund
Download or read book Review of Institutional Safeguards written by International Monetary Fund and published by International Monetary Fund. This book was released on 2022-06-30 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ensuring the integrity of data and analysis is fundamental to the Fund’s ability to deliver on its mandate. As part of the Fund’s institutional safeguards review, a Working Group on Data and Analysis Integrity (WGDAI) was established to assess the possible need for changes in processes safeguarding the integrity of data and analysis at the Fund. The IMF primarily uses data supplied by its membership to fulfil its core mandate. The IMF has initiated and progressively enhanced a number of initiatives to help members prepare official data of adequate quality. Assessing data integrity and supporting countries’ efforts to achieve high standards has required a sustained commitment on the part of the Fund.
Book Synopsis The Current Account Income Balance: External Adjustment Channel Or Vulnerability Amplifier? by : Mr. Alberto Behar
Download or read book The Current Account Income Balance: External Adjustment Channel Or Vulnerability Amplifier? written by Mr. Alberto Behar and published by International Monetary Fund. This book was released on 2022-05-27 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: In terms of size, the net income balance (IB) is comparable to the trade balance (TB) for many countries. Yet the role of the IB in mitigating external vulnerabilities or complicating external adjustment remains underexplored. This paper studies the role of the IB in stabilizing or destabilizing the current account over the cycle and in crises. Our results show that, due to a negative correlation with the TB, the IB significantly dampens the time series volatility of the current account for most countries. However, the IB generally does not improve during crisis episodes, so current account adjustment occurs entirely through improvements in the TB. The paper also estimates IB semi-elasticities with respect to the exchange rate (ER). Semi-elasticities are small for most countries, so the IB is generally not a significant channel through which the ER stabilizes the current account, and trade-based semi-elasticities are, with some important exceptions, good proxies for current account semi-elasticities used in external sector assessments.
Book Synopsis Nigeria by : International Monetary Fund. African Dept.
Download or read book Nigeria written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2017-04-05 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: The slump in oil prices and production and an inadequate policy response are increasing unemployment and undermining efforts to reduce poverty. The authorities took some steps in 2016 to reduce vulnerabilities, mainly by deregulating fuel prices, increasing the monetary policy rate, and allowing currency depreciation to reduce the exchange rate misalignment. However, further actions are urgently needed to tackle the low revenue effort, large infrastructure deficit, rising debt service, double-digit inflation, and a foreign exchange market marred by restrictions. These actions need to be supported by continued efforts to counter militant activity in the Niger Delta and an insurgency-related humanitarian crisis in the North East.
Book Synopsis Guatemala by : International Monetary
Download or read book Guatemala written by International Monetary and published by International Monetary Fund. This book was released on 2023-05-24 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: Guatemala has weathered many crises well. Its 's economy has proved resilient, building on a solid track-record of prudent policies--low fiscal deficits and debt-to-GDP ratio, and high international reserves--and strong remittance inflows. After a strong rebound in 2021, Guatemala's economy has been slowing down--with GDP growth halving to a solid 4.1 percent in 2022. Inflation increased in 2022 but peaked in February 2023 (9.9 percent, year-on-year) to drop to 8.71 percent in March 2023. At the same time, public investment tends to be under-executed, poverty remains high, and tax revenue is weak, while substantial institutional, investment, and social gaps and governance weaknesses hinder progress. Addressing these requires higher broad-based and inclusive growth and further progress in the reform agenda. The authorities' goal to attain investment grade and attract foreign investment could unlock opportunities. General elections are due June 25, 2023 (the second round on August 20, if needed).
Book Synopsis Guatemala: 2022 Article IV Consultation-Press Release; Staff Report; and Informational Annex by : International Monetary
Download or read book Guatemala: 2022 Article IV Consultation-Press Release; Staff Report; and Informational Annex written by International Monetary and published by International Monetary Fund. This book was released on 2022-06-07 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: The remarkable resilience of the economy during the pandemic, driven by policy support, favorable credit conditions and a favorable external environment, has almost returned the level of GDP to its pre-pandemic projected trend. Reflecting the prevalence of domestic factors, headline inflation eased to 3 percent (the lower limit of the inflation target band) at end-2021. For 2022, growth is expected to moderate while inflation is expected to rise in line with global inflationary pressures. Despite the resilience, social indicators such as poverty and malnutrition remain high. The outlook is very uncertain with significant downside risks, mostly external, including from the pandemic, geopolitical tensions, and the tightening of global financial conditions in response to global inflationary pressures.
Author :International Monetary Fund. Middle East and Central Asia Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :104 pages Book Rating :4.4/5 (2 download)
Book Synopsis Saudi Arabia by : International Monetary Fund. Middle East and Central Asia Dept.
Download or read book Saudi Arabia written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2023-09-06 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Saudi Arabia’s economy is booming, unemployment is at a record low, the output gap is closed, inflation is contained, and fiscal and external buffers have been rebuilt. The continuation of Vision 2030 reforms has helped advance the country’s economic diversification agenda, including through reduced reliance on oil.
Book Synopsis Greece: Selected Issues by : International Monetary
Download or read book Greece: Selected Issues written by International Monetary and published by International Monetary Fund. This book was released on 2022-06-21 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: Greece: Selected Issues
