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Brazil 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Brazil
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Book Synopsis Brazil: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil by : International Monetary
Download or read book Brazil: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil written by International Monetary and published by International Monetary Fund. This book was released on 2021-09-22 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic performance has been much better than expected, in part due to the authorities’ forceful policy response. Nevertheless, Brazil’s long-standing challenges of low growth, high debt, and elevated levels of poverty and inequality have been exacerbated by the pandemic. Tragically, more than 550,000 Brazilians have died from COVID-19.
Book Synopsis Bolivia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bolivia by : International Monetary
Download or read book Bolivia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bolivia written by International Monetary and published by International Monetary Fund. This book was released on 2021-08-04 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the October 2020 election, the new administration moved to tackle the devastating human and economic effects of the COVID-19 pandemic. The economy shows signs of recovery from its 8.8 percent contraction in 2020. However, fiscal imbalances have increased and international reserves continue to fall. On February 12, Bolivia repurchased the 240.1 million SDR purchase under the Fund’s Rapid Financing Instrument (that was approved by the Fund’s Executive Board in April 2020).
Book Synopsis Uruguay: 2021 Article IV Consultation--Press Release; Staff Report; and Statement by the Executive Director for Uruguay by : International Monetary
Download or read book Uruguay: 2021 Article IV Consultation--Press Release; Staff Report; and Statement by the Executive Director for Uruguay written by International Monetary and published by International Monetary Fund. This book was released on 2022-01-25 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2021 Article IV Consultation--Press Release; Staff Report; and Statement by the Executive Director for Uruguay
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.
Book Synopsis El Salvador: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for El Salvador by : International Monetary
Download or read book El Salvador: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for El Salvador written by International Monetary and published by International Monetary Fund. This book was released on 2022-01-28 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: The pandemic interrupted ten years of growth, but El Salvador is rebounding quickly. Robust external demand, resilient remittances, and a sound management of the pandemic—with the help of a disbursement under the Rapid Financing Instrument (RFI) (SDR287.2 million or US$389 million) approved in April 2020—are supporting a strong recovery. Persistent fiscal deficits and high debt service are leading to large and increasing gross fiscal financing needs.
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.
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.
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.
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 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 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.
Book Synopsis Chile: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Chile by : International Monetary
Download or read book Chile: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Chile written by International Monetary and published by International Monetary Fund. This book was released on 2021-04-23 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Chilean economy has been hit by the pandemic while recovering from the social unrest in late 2019, requiring substantial adjustment of economic policies and the appropriate use of existing policy buffers. Following a sharp decline in mid-2020, economic activity started recovering in 2020H2 in the wake of ample policy stimulus. Inflation remains near the policy target, with inflation expectations anchored, and the current account balance has improved amid a sharp drop in imports and relatively resilient exports. Fiscal and monetary policies remain guided by the structural fiscal balance rule and the inflation-targeting framework, respectively. Beyond the pandemic-related risks, there is uncertainty stemming from a series of elections and the outcome of a New Constitution process—scheduled to finish in mid-2022—which are expected to shape the public discourse and influence the policy agenda.
Book Synopsis Colombia: 2022 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Colombia by : International Monetary
Download or read book Colombia: 2022 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Colombia written by International Monetary and published by International Monetary Fund. This book was released on 2022-04-04 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: Colombia’s economy rebounded strongly in 2021 with 10.6 percent growth led by pent-up domestic demand, notably private consumption. Around 66 percent of the population is fully vaccinated against Covid-19 as of end-February and the economy continues to reopen more fully. While GDP has already reached pre-pandemic levels, employment has trailed in its recovery and macroeconomic imbalances have emerged. Amid strong demand, supply constraints, and rising commodity prices, rising inflation exceeded the upper limit of the central bank’s tolerance range in 2021. With demand-led growth and higher import prices, the current account deficit widened to 53⁄4 percent of GDP. Under staff’s assumptions for the evolution of the pandemic, above-potential growth around 51⁄2 percent is expected in 2022, led by robust household consumption and a continued recovery of investment and exports. External vulnerabilities remain elevated with high external financing needs and tighter financial conditions. External risks remain elevated and an intensification of the ongoing conflict in Ukraine may impart considerable volatility in financial and commodity markets. Domestic risks are also tilted to the downside—including uncertainty around the evolution of the pandemic, political uncertainty with national elections this year, and slower implementation of the infrastructure agenda and peace accords.
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.
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :99 pages Book Rating :4.4/5 (2 download)
Book Synopsis Brazil by : International Monetary Fund. Western Hemisphere Dept.
Download or read book Brazil written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2023-07-31 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: After a rapid recovery from the pandemic, economic activity is converging towards potential levels. Headline inflation has rapidly declined from last year’s peak, but core inflation remains elevated, and inflation expectations are above target. To address cost-of-living concerns, the new government expanded the 2023 budget envelope, while identifying measures to recover tax revenues. The authorities are also embarking on an ambitious agenda to steer a sustainable, inclusive, and green economy.
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 :1484309898 Total Pages :76 pages Book Rating :4.4/5 (843 download)
Book Synopsis Brazil by : International Monetary Fund. Western Hemisphere Dept.
Download or read book Brazil written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2017-07-13 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2017 Article IV Consultation highlights that Brazil’s deep recession appears close to an end. The recession, triggered by large macroeconomic imbalances and a loss of confidence, was exacerbated by declining terms of trade, tight financing conditions, and a political crisis. Growth is projected to be 0.3 percent in 2017 and 1.3 percent in 2018, moving toward 2 percent in the medium term. Inflation is projected to undershoot its central target of 4.5 percent in 2017 and 2018. The forecast assumes that a sufficiently strong set of measures are put in place to ensure fiscal sustainability. Political instability and spillovers from the corruption investigation are major sources of risk that could threaten the reform agenda and the recovery.
Book Synopsis People’s Republic of China: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the People’s Republic of China by : International Monetary
Download or read book People’s Republic of China: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the People’s Republic of China written by International Monetary and published by International Monetary Fund. This book was released on 2022-01-28 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s recovery is well advanced—but it lacks balance and momentum has slowed, reflecting the rapid withdrawal of fiscal support, lagging consumption amid recurrent COVID-19 outbreaks despite a successful vaccination campaign, and slowing real estate investment following policy efforts to reduce leverage in the property sector. Regulatory measures targeting the technology sector, intended to enhance competition, consumer privacy, and data governance, have increased policy uncertainty. China’s climate strategy has begun to take shape with the release of detailed action plans. Productivity growth is declining as decoupling pressures are increasing, while a stalling of key structural reforms and rebalancing are delaying the transition to “high-quality”—balanced, inclusive and green—growth.
