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International Monetary Fund. Statistics Dept.
In response to a request from the authorities and as part of the United Kingdom’s Department for International Development (DFID) Enhanced Data Dissemination Initiative (EDDI) 2 project, a Government Finance Statistics (GFS) mission visited Lusaka, Zambia, during November 19–30, 2018. This was the third mission to Zambia under the DFID EDDI2 project, following the March 2016 and November 2017 missions. The mission worked essentially with staff at the Zambia Central Statistical Office (CSO) Public Finance Unit (PFU), but also had meetings with staff from the Ministry of Finance’s Accountant General, Budget, Investment and Debt Management, and Economic Management departments.
International Monetary Fund. Statistics Dept.
This Technical Assistance (TA) report focuses on four key work areas which may lead to improvement of Government Finance Statistics (GFS) for fiscal analysis, support policy making decisions in Zambia, and improve African Department surveillance. The mission found out that the Coordinating Committee, recommended in the previous TA mission, was not yet established. The mission reviewed progress on the legal and institutional arrangements supporting the compilation of GFS as a follow up from recommendations of the previous GFS TA mission and found that the legislation reforms were on track, especially regarding the Public Finance Act. The report also found that Central Statistical Office (CSO) is working on the revision of the Statistics Act to follow the new strategy for National Development of Statistics. For sustainability and consistency purposes, the mission recommended that the CSO staff produce a GFS manual for compilation and dissemination of GFS data.
International Monetary Fund. Statistics Dept.
A technical assistance (TA) mission was undertaken by the Real Sector Statistics Advisor in the Caribbean Regional Technical Assistance Centre (CARTAC) to St. Lucia during September 17–28, 2018, to provide advice to the Central Statistics Office (CSO) on compiling supply and use tables (SUT) for 2016. The 2006 base year for the GDP estimates is outdated and does not reflect the current structure of the economy. In addition, there is scope to improve the input data and methodology used in producing the GDP estimates and to implement the relevant System of National Accounts 2008 (2008 SNA) recommendations.
International Monetary Fund
A confluence of developments is creating a more favorable economic situation for Guinea-Bissau. The country has moved away from debt distress with the debt relief granted after the Highly Indebted Poor Countries completion point last year. Fiscal sustainability has improved considerably through expenditure control and substantial increases in revenue. For the first time, the 2012 budget envisages sufficient fiscal revenue to cover current spending. The immediate challenge is to maintain fiscal prudence, modernize the public administration and defense and security sectors, and create space for private sector development.
International Monetary Fund
Burundi is one of the poorest countries in the world. The country is emerging from more than a decade of civil conflict. The World Bank’s country assistance strategy focuses on structural reforms to further increase growth and reduce poverty. The economy is emerging from the effects of the global crisis. Performance under the Extended Credit Facility-supported (ECF) program has been satisfactory. The discussions focus on the appropriate policy mix to consolidate economic stability and support recovery of the economy. The economy is expected to continue to recover from the effects of the global crisis.
International Monetary Fund
This paper discusses an assessment of Comoros’s performance Under the Program Supported by the Emergency Post-Conflict Assistance (EPCA). Overall performance under the EPCA-supported program has been broadly satisfactory. Nearly all EPCA performance indicators for end-March 2009 were observed. Revenue collection was stronger than anticipated. On the spending side, recent measures to improve expenditure management are gradually restoring order in spending operations, although continued difficulties have been experienced in managing the wage bill. All but one of the structural indicators were met.
International Monetary Fund
This report examines the Central African Republic’s Third Review under the Three-Year Arrangement under the Poverty Reduction and Growth Facility and request for waivers of Nonobservance and Modification of Performance Criteria. Global food price hikes and fuel price volatility jeopardize growth, inflation, and the balance of payments. Fiscal performance has been as expected, and all quantitative performance criteria (PC) have been met except for the PC on external arrears and on net credit from commercial banks. Demand for timber has declined, and the unstable domestic security situation has reduced diamond exports.
International Monetary Fund
This report on the observance of Standards and Codes—Data Module provides an assessment of Mauritius’s macroeconomic statistics against the Special Data Dissemination Standard complemented by an assessment of data quality based on the IMF’s Data Quality Assessment Framework July 2003. The assessment reveals that the quality of the macroeconomic statistics in Mauritius has improved significantly since the previous assessment conducted in 2001. Quarterly national accounts were successfully put in place. Work is well advanced to implement the new international methodology for government finance statistics.
International Monetary Fund
This paper reviews the Central African Republic’s three-year arrangement under the poverty reduction and growth facility. Concerns about the social impact of higher fuel prices have delayed implementation of an automatic pricing formula and caused serious fiscal losses. The new financing strategy is based on issuing debt instruments in the regional financial market to improve the domestic debt profile. IMF staff recommends completion of the second review, granting of waivers for nonobservance of performance criteria, and an augmentation of access.
International Monetary Fund
Afghanistan has made substantial progress toward macroeconomic stability, but structural reforms need to be accelerated. The uncertainty affecting the fiscal outlook warrants a prudent expenditure policy. Monetary policy has been instrumental in reducing inflation and safeguarding external stability, but it needs to be strengthened. The government should resist pressures for expanding its role in the economy and focus on fostering competition and improving economic governance. The current exchange rate level appears in line with fundamentals. The government should increase its efforts to improve Afghanistan’s statistical database.