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Cover IMF Staff Country Reports
Uganda: Central Bank Transparency Code Review
International Monetary Fund. Monetary and Capital Markets Department
The Bank of Uganda (BOU) is implementing transparency practices that are broadly aligned with the good practices for central banks. The BOU’s initiatives on a comprehensive communication strategy and broad use of tools underpin the commitment to transparency and its accountability for the price stability mandate. The BOU seeks to improve public accountability and intends to use the results of the CBTC review to further improve its communications and transparency practices.
Keywords:
BOU website; BOU communications policy; transparency practice; BOU endeavor; BOU transparency; BOU department; Anti-money laundering and combating the financing of terrorism (AML/CFT); Financial sector stability; Revenue administration transparency and accountability; Macroprudential policy; International reserves; Global
Cover IMF Staff Country Reports
Nigeria: Selected Issues
International Monetary Fund. African Dept.
Selected Issues
Keywords:
EIU FOOD INSECURITY index; World wheat price inflation; tax revenue mobilization; food supply; fuel subsidy reform; food price inflation; Mobile banking; Financial inclusion; Food security; Excises; Global; Sub-Saharan Africa
Cover IMF Staff Country Reports
Republic of Congo: Second Review under the Three-year Extended Credit Facility Arrangement, Requests for Modification and Waivers of Nonobservance of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Congo
International Monetary Fund. African Dept.
Strengthened economic recovery remains fragile amid high food inflation, driven by increased import costs following Russia’s war in Ukraine. High global oil prices are benefitting the Congo’s crude oil exports but higher refined fuel import costs were subsidized by the government, widening the 2022 non-oil fiscal deficit. Sustained reform efforts are needed for economic diversification, which would reduce Congo’s fragilities, create jobs, and raise incomes. Debt remains sustainable but classified as “in distress” due to arrears; a financing assurances review was conducted. The first review of the three-year Extended Credit Facility (ECF) arrangement (SDR 324 million, 200 percent of quota) was concluded by the IMF Executive Board on June 24, 2022.
Keywords:
IMF TA; PC table; quantitative Performance Criteria; overburdened staff; reorganization of the CCA; Arrears; Fiscal stance; Oil, gas and mining taxes; Global
Cover IMF Staff Country Reports
Guinea-Bissau: Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; and Staff Report
International Monetary Fund. African Dept.
Guinea-Bissau is a fragile state with significant development challenges, including limited fiscal space, debt vulnerabilities and poor governance. After years of political turmoil and delayed reforms, in 2021 the authorities started the implementation of an ambitious fiscal consolidation program to ensure debt sustainability while creating fiscal space to address developmental needs. A Rapid Credit Facility (RCF) disbursement of SDR 14.2 million (50 percent of quota) was approved in January 2021 to provide urgent financing to support critical spending in health. A nine-month SMP with three quarterly reviews, approved in July 2021 ended with satisfactory performance building track record of policy implementation towards an Extended Credit Facility (ECF) arrangement. The August 2021 SDR 27.2 million allocation and the reforms underpinned by the SMP have helped address the adverse impact of the pandemic, while improving the transparency of government spending, and mitigating debt vulnerabilities.
Keywords:
reform priority; tax penalty regime; Bissau-Guinean authorities; ECF arrangement; Guinea-Bissau authorities; Debt sustainability analysis; Fiscal consolidation; Auditing; Global; West Africa; Africa
Cover IMF Staff Country Reports
Republic of Congo: Poverty Reduction and Growth Strategy
International Monetary Fund. African Dept.
The 2022-2026 NDP is based on the tradition of development planning in the Congo and on the President of the Republic's social project, "Together, let us continue the march". This project reflects a vision of the process of building a society that ensures social progress for all, in solidarity and peace, through the creation of conditions for inclusive growth, based on a strong economy.
Keywords:
poverty rate; NDP financing plan; NDP scenario; NDP project; NDP objective; Infrastructure; Global; Central Africa; Africa; Sub-Saharan Africa
Cover IMF Staff Country Reports
Republic of Moldova: Poverty Reduction Strategy and Growth Strategy
International Monetary Fund. European Dept.
The Republic of Moldova is continuously transforming, directly affected by regional and global events: the rise in the cost of energy and food products, the security crisis in the region created by the aggression of the Russian Federation in Ukraine, the reformation of value chains and even climate change affecting agricultural production. In this extremely difficult context, in addition to the short-term interventions needed to cope with the current crises, the Government has proposed to define a medium- and long-term development vision, in order to strengthen our resilience to future crises and create the basis for a sustainable and inclusive development of the country.
Keywords:
growth strategy; development partner; copyright page; publication service; justice system; Aging; Global; Central and Eastern Europe; Eastern Europe
Cover IMF Staff Country Reports
Mexico: Technical Assistance Report on Chain Linking
International Monetary Fund. Statistics Dept.
"This title is available in Spanish only" A technical assistance (TA) mission was conducted remotely during February 4-18, 2022, to providing guidance to the National Institute of Statistics and Geography (INEGI) of Mexico in implementing the chain-linked volume measures with previous year weights in their national accounts (NA) statistics. Currently, INEGI compiles Gross Domestic Product (GDP) and related NA economic indicators at constant prices with fixed base year indices of 2013. Chain-linked volume measures provide improved and more accurate estimates of economic growth, especially in periods of structural change. The TA mission also provided extensive training on compiling chained indices with own country examples from the economic surveys and national accounts statistics to a large group of INEGI staff and discussed with INEGI management an action plan for developing and implementing chained indices for the national accounts and short-term indicators.
Keywords:
National Accounts chained indices volume measures weights
Cover IMF Staff Country Reports
Jamaica: 2022 Article IV Consultation-Press Release; Staff Report and Staff Statement
International Monetary Fund. Western Hemisphere Dept.
Jamaica has built a strong track record of investing in institutions and prioritizing macroeconomic stability. This aided the country to adapt to the difficult global environment of the past few years. The authorities provided targeted support to vulnerable households and firms during the pandemic but promptly scaled it back as conditions normalized. Similarly, in the wake of the war in Ukraine, domestic food and energy prices adjusted in line with shifts in international markets while targeted support was provided to the poor.
Keywords:
securities dealer; bank financial system; BOJ executive; head of the FSC; BOJ with the mandate; quarterly balance of payments; Climate change; Natural disasters; Government finance statistics; Global; Caribbean; Western Hemisphere
Cover IMF Staff Country Reports
People’s Republic of China: Selected Issues
International Monetary Fund. Asia and Pacific Dept
Selected Issues
Keywords:
green finance landscape; C. power market; market reform; policy initiative; E. Policy implication; Climate finance; Credit; Greenhouse gas emissions; Total factor productivity; Global; Asia and Pacific
Cover IMF Staff Country Reports
People’s Republic of China: Selected Issues
International Monetary Fund. Asia and Pacific Dept
Selected Issues