International Monetary Fund. Strategy, Policy, & and Review Department
This note provides operational guidance to staff on how to engage on social safeguard issues with low-income countries in both program and surveillance contexts. The note is not intended as a comprehensive guide, and should be used in conjunction with other operational guidance notes, such as those relating to conditionality and surveillance.
International Monetary Fund. Asia and Pacific Dept
This Selected Issues paper uncovers the factors behind the unprecedented widening of India’s current account deficit in terms of the sectoral savings-investment balance. The unprecedented widening of India’s current account deficit in recent years is a symptom of underlying macroeconomic imbalances and structural weaknesses. Persistently high inflation has depressed real returns, prompting a surge in gold imports and a marked deterioration in household financial savings and the savings-investment balance. In turn, improvement in the public sector’s savings-investment balance was achieved through capital spending cuts, as subsidies remained high and fuel price adjustments lagged. Further efforts to increase financial savings would help reduce the current account deficit sustainably and boost growth.
Depuis plusieurs années, le FMI publie un nombre croissant de rapports et autres documents couvrant l'évolution et les tendances économiques et financières dans les pays membres. Chaque rapport, rédigé par une équipe des services du FMI à la suite d'entretiens avec des représentants des autorités, est publié avec l'accord du pays concerné.
The Staff Report for the 2011 Article IV Consultation found the macroeconomic performance of the Central African Republic (CAR) satisfactory despite its below-average growth compared with other countries of the region. The report has identified lack of resources, institutional frailties, overdependence on external assistance among other factors responsible for the tardy economic growth and increase in poverty. However, the report has observed that the economy is poised for a medium-term recovery with budgetary discipline and transparency, and effective management of public debt.
This paper discusses key findings of the Third Review Under the Poverty Reduction and Growth Facility (PRGF) for Haiti. Despite external shocks, program performance was solid in the first half of FY2008, with all but one quantitative performance criteria (PC) met. Most structural conditionality was also met on time, although two PCs require waivers. The authorities’ revised program through end-September is based on a policy response that balances adjustment and financing, and safeguards macroeconomic stability. IMF staff supports the authorities’ response to the shocks.
International Monetary Fund. External Relations Dept.
IMF opens African technical assistance center; interview with Raghuram Rajan; IMF weighs contingent financing; Latin American growth; Nepal seeks prosperity; link between budget institutions, fiscal outcomes; fuel subsidies; IT in Ireland, India, Israel
Major political developments have taken place in Nepal since the Executive Board concluded the Article IV Consultation in January 2006. The Koirala government is keen on early resumption of the IMF-supported program to help maintain macroeconomic stability. The international community has welcomed the peace process and has extended financial aid. Progress on structural reforms was slow owing to political uncertainties, an unsettled security environment, and inertia in policy implementation. The authorities outlined an economic program for 2006/07 consistent with Poverty Reduction Strategy Paper (PRSP)/Poverty Reduction and Growth Facility (PRGF) objectives.