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You are looking at 1 - 10 of 12 items for :

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Cover IMF Staff Country Reports
Greece: Detailed Assessments Using the Data Quality Assessment Framework (DQAF)
International Monetary Fund

The Report on the Observance of Standards and Codes (ROSC) Data Module provides a review of Greece’s data dissemination practices against the IMF’s Special Data Dissemination Standard (SDDS), complemented by the in-depth assessment of the quality of Greece’s national accounts, consumer price index (CPI), producer price index (PPI), and government finance, monetary, and balance-of-payments statistics (BOP). The assessment was carried out by a mission from the IMF Statistics Department. Finally, this study provides recommendations to achieve improvements in Greece’s statistics.

Keywords:
ISCR; CR; statistics; information; time series; sc; accounts data; central government; accounting data; balance sheet; producer price index; Balance of payments statistics; Consumer price indexes; Fiscal accounting and reporting
Cover IMF Staff Country Reports
Greece: Report on the Observance of Standards and Codes (ROSC)—Data Module
International Monetary Fund

The Report on the Observance of Standards and Codes (ROSC) Data Module provides a review of Greece’s data dissemination practices against the IMF’s Special Data Dissemination Standard (SDDS), complemented by the in-depth assessment of the quality of Greece’s national accounts, consumer price index (CPI), producer price index (PPI), and government finance, monetary, and balance-of-payments statistics (BOP). The assessment was carried out by a mission from the IMF Statistics Department. Finally, this study provides recommendations to achieve improvements in Greece’s statistics.

Keywords:
ISCR; CR; statistics; information; time series; sc; summary data page; MEF data; data quality; data accessibility; accounts data; Balance of payments statistics; Government finance statistics; Wholesale price indexes; Special Data Dissemination Standard (SDDS)
Cover IMF Staff Country Reports
Greece: Staff Report for the 2006 Article IV Consultation
International Monetary Fund

This 2006 Article IV Consultation highlights that economic growth of Greece has been strong for several years, underpinned by a rapid increase in private sector credit, following the liberalization of the financial sector and the sharp drop in interest rates. In 2006, real GDP rose by an estimated 4.1 percent, driven by private domestic demand and a pickup in goods exports. The authorities have introduced a number of significant structural measures to improve product markets. These include simplified business licensing procedures for industrial firms, more flexible overtime, and liberalization of network industries.

Keywords:
ISCR; CR; deficit; government; reform; pose downside risk; public enterprise reform; goods export; foreign exchange; personal income; banking system; base year; Europe
Cover IMF Staff Country Reports
Greece: 2007 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Greece
International Monetary Fund
The Greek economy showed strength supported by solid gains in employment, substantial real wage increases, low interest rates, and rapid credit expansion. Executive Directors appreciated the performance of the banking system and welcomed the Bank of Greece’s efforts to strengthen provisioning requirements and lending standards. Directors welcomed the balanced budget and product market reform and stressed the need to improve tax administration. They advised that sustained fiscal consolidation is helpful for safeguarding debt sustainability. Directors emphasized for a budget framework to guide fiscal strategy and prioritize policy objectives.
Keywords:
ISCR; CR; deficit; IMF staff projection; adjustment path; IMF staff estimate; product market; inflation outlook; IMF Revised; demand growth; Income; Employment; Global; Europe; Eastern Europe
Cover IMF Staff Country Reports
Greece: Report on the Observance of Standards and Codes—Data Module—Update
International Monetary Fund
This update to the Report on the Observance of Standards and Codes (ROSC)—Data Module on Greece highlights general recommendations, consumer price index, government finance statistics, and balance-of-payment statistics. The National Statistical Service of Greece (NSSG) has been working toward publishing in 2005 detailed government finance statistics, including time series. National accounts press releases include charts and commentaries about recent developments. The NSSG is investigating whether provisional structural surveys could be used to improve the timeliness of the weight revisions.
Keywords:
ISCR; CR; statistics; data; data ROSC; accounting practice; employment statistics; NSSG plan; BoG website; price statistics; Balance of payments statistics; Government finance statistics; Fiscal accounting and reporting; Accrual accounting
Cover IMF Staff Country Reports
Malta: 2015 Article IV Consultation-Press Release; and Staff Report
International Monetary Fund. European Dept.
This 2015 Article IV Consultation highlights that Malta’s economy is growing strongly. Real GDP growth has been one of the highest in the euro area since the beginning of the crisis, supported by vibrant domestic demand, large infrastructure projects, and a stable banking sector. Unemployment is at historical lows, and labor participation is increasing. The current account remains in surplus, and the external position is broadly in line with fundamentals. Growth is expected to remain solid in 2016–17, driven initially by domestic demand and later by a gradual recovery of external demand. Inflation is projected to pick up gradually owing to the positive output gap and higher imported inflation on account of the weaker exchange rate.
Keywords:
ISCR; CR; financing; bank; Malta; SDDS preparation; IMF staff estimate; upside risk; consultation discussion; Malta's economy; growth financing; summary trade statistics; financial market; volume estimate; Nonperforming loans; Labor markets; Income; Aging; Global
Cover IMF Staff Country Reports
Greece: Report on the Observance of Standards and Codes (ROSC)—Data Module
International Monetary Fund
The Report on the Observance of Standards and Codes (ROSC) Data Module provides a review of Greece’s data dissemination practices against the IMF’s Special Data Dissemination Standard (SDDS), complemented by the in-depth assessment of the quality of Greece’s national accounts, consumer price index (CPI), producer price index (PPI), and government finance, monetary, and balance-of-payments statistics (BOP). The assessment was carried out by a mission from the IMF Statistics Department. Finally, this study provides recommendations to achieve improvements in Greece’s statistics.
Keywords:
ISCR; CR; statistics; information; time series; sc; balance of payments; accounting base; status of balance of payments statistic; detailed balance of payments statistics; Balance of payments statistics; Consumer price indexes; Monetary statistics; Government finance statistics; Global
Cover IMF Staff Country Reports
Greece: Staff Report for the 1999 Article IV Consultation
International Monetary Fund
This 1999 Article IV Consultation with Greece highlights that the ‘regime switch’ represented by the drachma devaluation, ERM entry, and the accompanying strengthening of policies was deemed essential also by the staff, both for competitiveness and confidence reasons. The monetary policy stance centered on high interest rates and a strong drachma-has been tight, contributing to the anti-inflationary effort. The growth of mortgage and consumer lending has been particularly brisk, raising Bank of Greece concerns about its potential inflationary impact. On structural reforms, progress has been visible with regard to privatization and some aspects of public enterprise restructuring, but much remains to be done, while broad social security and labor market reforms remain largely on hold. The IMF staff recognized that, having eschewed what it saw as the preferable option of an immediate post-devaluation tightening of the fiscal stance, the authorities had left themselves with limited policy tools to restrain inflation within the short time span available to the Maastricht test date.
Keywords:
ISCR; CR; GDP; deficit; core inflation; harmonized inflation index; foodstuff price; EMU qualification; convergence program target; interest rate fall; Inflation; Consumption; Fiscal stance; Privatization; Europe; Southern Europe
Cover IMF Staff Country Reports
Greece: Staff Report for the 2006 Article IV Consultation
International Monetary Fund
This 2006 Article IV Consultation highlights that economic growth of Greece has been strong for several years, underpinned by a rapid increase in private sector credit, following the liberalization of the financial sector and the sharp drop in interest rates. In 2006, real GDP rose by an estimated 4.1 percent, driven by private domestic demand and a pickup in goods exports. The authorities have introduced a number of significant structural measures to improve product markets. These include simplified business licensing procedures for industrial firms, more flexible overtime, and liberalization of network industries.
Keywords:
ISCR; CR; deficit; government; reform; pose downside risk; public enterprise reform; current account; private sector credit; GDP revision; GDP data; Fiscal stance; Loans; Europe
Cover IMF Working Papers
Quality of Government and Living Standards: Adjusting for the Efficiency of Public Spending
Mr. Francesco Grigoli and Mr. Eduardo Ley
It is generally acknowledged that the government’s output is difficult to define and its value is hard to measure. The practical solution, adopted by national accounts systems, is to equate output to input costs. However, several studies estimate significant inefficiencies in government activities (i.e., same output could be achieved with less inputs), implying that inputs are not a good approximation for outputs. If taken seriously, the next logical step is to purge from GDP the fraction of government inputs that is wasted. As differences in the quality of the public sector have a direct impact on citizens’ effective consumption of public and private goods and services, we must take them into account when computing a measure of living standards. We illustrate such a correction computing corrected per capita GDPs on the basis of two studies that estimate efficiency scores for several dimensions of government activities. We show that the correction could be significant, and rankings of living standards could be re-ordered as a result.
Keywords:
WP; GDP; value; living standard; output; System of National Accounts; Efficiency; Living Standards; Public Sector; GDP loss; GDP-per-capita ranking; efficiency score; output value; input-output combination; Health care spending; Global