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Chapter 2 Background

Chapter 2 Background »

Source: Creating Policy Space in Low-Income Countries during the Recent Crises

Series: Departmental Papers / Policy Papers

Author(s): Paolo Dudine , Sibabrata Das , Pritha Mitra , Yongzheng Yang , Eteri Kvintradze , and Nkunde Mwase

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2010

ISBN: 9781589069305

Keywords: Financial assistance, Fund-supported adjustment programs, Global Financial Crisis 2008-2009, Low-income developing countries, conditionality, structural conditionality, current account, balance of payments, debt sustainability

The IMF has been at the forefront in helping low-income countries (LICs) address the macroeconomic impact of the global food, fuel, and financial crises. LICs were hard hit by massive increases in food and f...

CHAPTER 6 Challenges Ahead

CHAPTER 6 Challenges Ahead »

Source: Coping with the Global Financial Crisis : Challenges Facing Low-Income Countries

Series: Departmental Papers / Policy Papers

Author(s): Stefania Fabrizio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2010

ISBN: 9781589069299

Keywords: External debt, Commodity prices, Economic growth, Global Financial Crisis 2008-2009, Low-income developing countries, external financing, debt sustainability, debt burden, exchange rate

The use of fiscal and other policies to counter the effects of the recession should continue, where appropriate, until it is clear that recovery is under way. Past gains from macroeconomic stabilization and...

Chapter 5 Conclusions

Chapter 5 Conclusions »

Source: Creating Policy Space in Low-Income Countries during the Recent Crises

Series: Departmental Papers / Policy Papers

Author(s): Paolo Dudine , Sibabrata Das , Pritha Mitra , Yongzheng Yang , Eteri Kvintradze , and Nkunde Mwase

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2010

ISBN: 9781589069305

Keywords: Financial assistance, Fund-supported adjustment programs, Global Financial Crisis 2008-2009, Low-income developing countries, conditionality, structural conditionality, current account, balance of payments, debt sustainability

Over the past decade, since the advent of the PRGF, the Fund has sought to refocus its programs with LIC members. Macroeconomic policies, though still geared toward ensuring sustainability, were intended to...

CHAPTER 5 Financing Needs and Support from the International Community

CHAPTER 5 Financing Needs and Support from the International Community »

Source: Coping with the Global Financial Crisis : Challenges Facing Low-Income Countries

Series: Departmental Papers / Policy Papers

Author(s): Stefania Fabrizio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2010

ISBN: 9781589069299

Keywords: External debt, Commodity prices, Economic growth, Global Financial Crisis 2008-2009, Low-income developing countries, external financing, debt sustainability, debt burden, exchange rate

LICs are facing large external financing needs in 2009–10, averaging about US$25 billion a year higher than in 2008. The Fund and other international financial institutions (IFIs) have increased their financ...

CHAPTER 3 How Are LICs Affected?

CHAPTER 3 How Are LICs Affected? »

Source: Coping with the Global Financial Crisis : Challenges Facing Low-Income Countries

Series: Departmental Papers / Policy Papers

Author(s): Stefania Fabrizio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2010

ISBN: 9781589069299

Keywords: External debt, Commodity prices, Economic growth, Global Financial Crisis 2008-2009, Low-income developing countries, external financing, debt sustainability, debt burden, exchange rate

For many LICs the crisis is expected to have a severe impact on economic growth this year, but a V-shaped recovery is expected for 2010. An Overview LIC economies are being...

CHAPTER 1 Introduction

CHAPTER 1 Introduction »

Source: Coping with the Global Financial Crisis : Challenges Facing Low-Income Countries

Series: Departmental Papers / Policy Papers

Author(s): Stefania Fabrizio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2010

ISBN: 9781589069299

Keywords: External debt, Commodity prices, Economic growth, Global Financial Crisis 2008-2009, Low-income developing countries, external financing, debt sustainability, debt burden, exchange rate

Low-income countries (LICs) are being hit hard by the global financial crisis. They are facing a sharp contraction in export growth, foreign direct investment (FDI) inflows, and remittances, as well as lower...

CHAPTER 2 Outlook for Global Growth and Commodity Prices

CHAPTER 2 Outlook for Global Growth and Commodity Prices »

Source: Coping with the Global Financial Crisis : Challenges Facing Low-Income Countries

Series: Departmental Papers / Policy Papers

Author(s): Stefania Fabrizio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2010

ISBN: 9781589069299

Keywords: External debt, Commodity prices, Economic growth, Global Financial Crisis 2008-2009, Low-income developing countries, external financing, debt sustainability, debt burden, exchange rate

The world economy is beginning to pull out of the deepest slump since the Great Depression, but stabilization is uneven and the recovery remains fragile. Financial conditions have improved, as unprecedented...

Chapter 1 Overview

Chapter 1 Overview »

Source: Creating Policy Space in Low-Income Countries during the Recent Crises

Series: Departmental Papers / Policy Papers

Author(s): Paolo Dudine , Sibabrata Das , Pritha Mitra , Yongzheng Yang , Eteri Kvintradze , and Nkunde Mwase

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2010

ISBN: 9781589069305

Keywords: Financial assistance, Fund-supported adjustment programs, Global Financial Crisis 2008-2009, Low-income developing countries, conditionality, structural conditionality, current account, balance of payments, debt sustainability

The IMF has been at the forefront in helping low-income countries (LICs) address the macroeconomic impact of the global food, fuel, and financial crises. LICs have been hard hit by massive increases in world...

CHAPTER 4 Policy Responses

CHAPTER 4 Policy Responses »

Source: Coping with the Global Financial Crisis : Challenges Facing Low-Income Countries

Series: Departmental Papers / Policy Papers

Author(s): Stefania Fabrizio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2010

ISBN: 9781589069299

Keywords: External debt, Commodity prices, Economic growth, Global Financial Crisis 2008-2009, Low-income developing countries, external financing, debt sustainability, debt burden, exchange rate

Most LICs have implemented countercyclical fiscal policies, preserving or expanding spending to support the economy and protect the poor. But, given the limited scaling up of aid, many countries are resortin...

Chapter 3 Responsiveness in Macroeconomic Policy Design

Chapter 3 Responsiveness in Macroeconomic Policy Design »

Source: Creating Policy Space in Low-Income Countries during the Recent Crises

Series: Departmental Papers / Policy Papers

Author(s): Paolo Dudine , Sibabrata Das , Pritha Mitra , Yongzheng Yang , Eteri Kvintradze , and Nkunde Mwase

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2010

ISBN: 9781589069305

Keywords: Financial assistance, Fund-supported adjustment programs, Global Financial Crisis 2008-2009, Low-income developing countries, conditionality, structural conditionality, current account, balance of payments, debt sustainability

Addressing Shocks: The Strategic Approach IMF-supported programs are aimed at resolving balance of payments problems encountered by its member countries. Restoring external balance i...