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You are looking at 1 - 10 of 14 items for :

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Cover IMF Staff Country Reports
Bangladesh: Fifth and Sixth Reviews Under the Extended Credit Facility Arrangement-Press Release and Staff Report
International Monetary Fund. Asia and Pacific Dept
This paper discusses Bangladesh’s Fifth and Sixth Reviews Under the Extended Credit Facility Arrangement. The current ECF arrangement, approved in April 2012, is drawing to a close. Over its three years, macroeconomic stability has been buttressed: growth is strong, inflation has eased, the public debt-to-GDP ratio has remained stable, and foreign reserves remain adequate. Progress on revenue mobilization, however, has been weak. Political uncertainty remains a key risk to the outlook. All performance criteria for the combined reviews have been met, all prior actions have been completed, and macroeconomic stability has been maintained. The IMF staff recommends completion of the combined reviews.
Keywords:
ISCR; CR; ECF arrangement; debt; upside inflation risk; prudent fiscal policy; support from the Extended Credit Facility; social spending; Commercial banks; Debt sustainability analysis; Credit; State-owned banks; Global
Cover IMF Staff Country Reports
Bangladesh: Fourth Review Under the Three-Year Arrangement Under the Extended Credit Facility and Request for Modification of Performance Criteria
International Monetary Fund. Asia and Pacific Dept
This paper discusses Bangladesh’s Fourth Review Under the Three-Year Arrangement Under the Extended Credit Facility and Request for Modification of Performance Criteria (PC). All PCs at end-December 2013 (the test date for the fourth review) were met, and all structural benchmarks have been completed. Fiscal and monetary policies are set to retain a prudent stance to safeguard macroeconomic stability. Based on strong program performance to date and the policy framework going forward, the IMF staff recommends completion of the review, as well as modification of PCs for end-June 2014 on account of reserve over-performance.
Keywords:
ISCR; CR; debt; upside risk; dollar; upside; executive board's decision; GDP; creating flow; service-to-revenue ratio; PPG debt; cashflow forecast; Commercial banks; Credit; State-owned banks; Global
Cover IMF Staff Country Reports
Lao People's Democratic Republic: Staff Report and Public Information Notice
International Monetary Fund
Recent economic development and outlook of Lao are discussed in this study. However, the economy continued to exceed its macroeconomic speed limit in 2009, putting pressure on the balance of payments. The outlook for GDP growth in 2010 is favorable and inflation is likely to remain moderate. Discussions centered on policies required to maintain near-term macroeconomic stability and stem the decline in net foreign assets (NFA) of the banking system. IMF staff noted that the overall fiscal deficit should be put on a medium-term consolidation path.
Keywords:
ISCR; CR; debt; deficit; U.S. dollar; Lao PDR; Lao P.D.R. authorities; debt service; long position; credit growth; foreign currency; Commercial banks; Credit; Debt sustainability analysis; Asia and Pacific; Global; East Asia
Cover IMF Staff Country Reports
Bangladesh: 2009 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion
International Monetary Fund
This 2009 Article IV Consultation highlights that Bangladesh’s external position strengthened considerably in FY2009 and the first four months of FY2010. Strong remittances, resilient exports, and weak imports caused the current account of the balance of payments to record a surplus of almost 3 percent of GDP in FY2009, up from less than 1 percent of GDP in FY2008. Amid continued uncertainty about the strength of the global recovery, Bangladesh’s growth momentum is likely to remain somewhat subdued in the near term yet inflation seems set to increase.
Keywords:
ISCR; CR; debt; ratio; real GDP; current account; asset price inflation; AsDB project; AsDB's financing partner; creating flow; monetary policy objective; Commercial banks; Credit; Inflation; Global; South Asia
Cover IMF Staff Country Reports
People’s Republic of China: Staff Report for the 2006 Article IV Consultation
International Monetary Fund
Prospects for the future remain favorable, provided that policy actions are taken to address the risks and challenges that China faces. The government recognizes the need to contain investment and credit growth, and has tightened the monetary policy in response. Greater exchange rate flexibility will play a role in contributing to an orderly process for resolving global current account imbalances. Center-local fiscal relations need to be reformed, and such reform will help to rebalance the economy and spread the benefits of growth.
Keywords:
ISCR; CR; credit growth; investment growth; liquidity in the banking system; US$ rate; growth; headline CPI inflation; net export; Exchange rates; Commercial banks; Stock markets; Consumption; Global
Cover IMF Staff Country Reports
Vietnam: 2005 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Vietnam
International Monetary Fund
This 2005 Article IV Consultation for Vietnam reports that high credit growth in the context of weak bank balance sheets remains a cause for concern. The overall fiscal deficit narrowed from 7.2 percent of GDP in 2003 to 4½ percent of GDP in 2004, but a growing program of off-budget operations has weakened fiscal transparency and heightened concerns about medium-term debt sustainability. Improvements in the reliability, timeliness, and dissemination of key data are urgently needed to enhance the quality of policy analysis and surveillance.
Keywords:
ISCR; CR; government; authority; minimum wage; state equity ratio; budget; Vietnamese authorities; authorities' plan; civil service wage structure; government interference; Commercial banks; Exports; Global; Asia and Pacific
Cover IMF Staff Country Reports
Mongolia: Staff Report for the 2005 Article IV Consultation
International Monetary Fund
This 2005 Article IV Consultation highlights that Mongolia’s overall economic performance was stronger than expected and broad based in 2004 and early 2005. Sectoral contributions to high growth included a rebound in the livestock sector from harsh winter shocks of 2000–01 and strong mining exploration and exports, boosted by a favorable environment of unusually high copper and gold prices. After several years of moderation, however, inflation has accelerated, reaching 17½ percent through June 2005, as prices of fuels and meat have increased sharply in the past twelve months.
Keywords:
ISCR; CR; petroleum product; headline inflation rate; headline inflation; August; core inflation; staff appraisal; concessional terms; Exports; Debt service; Loans; Global
Cover IMF Staff Country Reports
Rwanda: Staff Report for the 2004 Article IV Consultation
International Monetary Fund
This 2004 Article IV Consultation of Rwanda reports that although the recovery in primary activities has been relatively rapid, formal sector activity registered a mixed performance. The expansion of government programs in health, education, water and energy, would widen the structural deficit over the medium term. The shift in the structure of the monetary base could weaken the effectiveness of central bank policy instruments. Rwanda’s export base remains highly concentrated and vulnerable to climatic and international price shocks.
Keywords:
ISCR; CR; Rwandese authorities; authority; floating exchange rate regime; government; growth strategy; development partner; Rwanda's net present value; Commercial banks; Export performance; Exports; Southern Africa; Global; Africa
Cover IMF Staff Country Reports
Bolivia: Second Review Under the Stand-By Arrangement and Request for Waiver of Applicability and Modification of Performance Criteria—Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Bolivia
International Monetary Fund
Bolivia’s pursuit of structural reforms has begun to yield results despite the difficult social and political context. The fiscal performance under the program needs to be substantially strengthened. The recent passage of the informal corporate workout law represents a substantial advance in financial and corporate restructuring. Executive Directors are in agreement with the government on the approach to reduce banking system fragility. To sustain economic growth, the pace of structural reforms has to be invigorated. Firm implementation of the program can achieve its goals.
Keywords:
ISCR; CR; CPI inflation rate; September; financial system deposit; lender of last resort facilities; deficit; tax regularization scheme; reform agenda; Exports; Commercial banks; Tax law; North America
Cover IMF Staff Country Reports
Uruguay: 2003 Article IV Consultation and Third Review Under the Stand-By Arrangement and Request for Modification and Waiver of Applicability of Performance Criteria—Staff Report; Staff Supplement; Staff Statement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uruguay
International Monetary Fund
Uruguay's performance under the Stand-By Arrangement (SBA) has been favorable, and commendable progress has been achieved in containing the crisis and stabilizing the economy. Executive Directors welcomed this development, and stressed the need to implement policies in the fiscal, banking, and structural areas. They commended the floating exchange rate regime, and the efforts of political and legal institutions in dealing with the financial crisis. They agreed that Uruguay has successfully completed the third review under the SBA, and approved waiver.
Keywords:
ISCR; CR; bank; deposit; economy; debt exchange; inflation-targeting regime; authorities plan; authorities' intention; asset disposal;