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Mr. Zubair Iqbal

This paper discusses quantitative indicators that measure such macroeconomic variables as the growth of national product, inflation. The importance of considering several indicators in a dynamic context becomes particularly relevant during periods when needed economic and financial adjustment measures are undertaken. Rationales given for maintaining negative real interest rates in developing countries range from keeping down the cost of servicing the public sector’s debt, or of investment, to avoiding the consequences of other policies.

Mr. P. van den Boogaerde

Abstract

Arab financial assistance to developing - particularly Arab - countries rose sharply between 1973 and 1980 but fell gradually through the 1980s, owing mainly to weakening oil prices. As a percent of GNP, however, Arab contributions remain the largest among major donors. This paper surveys the volume and distribution of Arab financing from 1973 to 1989.

International Monetary Fund
Improved terms of trade and sound macroeconomic policies have helped strengthen Kuwait's financial situation. The government should move forcefully to implement its structural reform program. Monetary policy is rightly focused on maintaining the credibility of the pegged exchange rate arrangement and achieving price stability. The pegged exchange arrangement, open capital account, and prudent fiscal and monetary policies have served Kuwait well, keeping inflation low and reinforcing confidence in the economy. The government has been commended for maintaining a generous foreign assistance program.
International Monetary Fund. Middle East and Central Asia Dept.
This paper discusses Islamic Republic of Mauritania’s Third Review of Arrangement under the Extended Credit Facility. The program aims at entrenching macroeconomic stability, supporting inclusive and job creating growth, and building international reserve buffers. The authorities plan to use the prospective fiscal space prudently for priority social spending—education, health, and social protection—and public infrastructure. The economic outlook has improved, buoyed by more favorable terms of trade and the upcoming development of a large offshore gas field. Growth is projected to accelerate to 6 3/4 percent this year, supported by a recovery in extractive sectors and continued broad-based non-extractive growth reflecting strong domestic demand and budding diversification. Downside risks related to global economic developments, commodity price volatility, and regional security concerns remain elevated. Considerable challenges remain to entrench macroeconomic stability, support inclusive growth, and build resilience to shocks. The prospective fiscal space should be used prudently for priority social policies and public infrastructure.
International Monetary Fund
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.
International Monetary Fund
Following a two-year long recession, a gradual recovery of St. Kitts and Nevis’ highly indebted economy is under way. The government has shown remarkable resolve in pursuing fiscal consolidation. Notwithstanding the fiscal adjustment, a comprehensive and timely public debt restructuring is critical for the program to be fully financed and to achieve debt sustainability. Available financial sector indicators point to a well-capitalized banking system. Regulation of the non-bank financial sector has been strengthened, but continued efforts are needed to ensure effective supervision.
International Monetary Fund. Middle East and Central Asia Dept.
Program implementation has been satisfactory. Macroeconomic stability has been maintained, external debt has been stabilized, and several reforms have been launched to modernize economic institutions and the policy framework. Growth is expected to accelerate this year to 3½ percent, supported by FDI and public investment. While the outlook is positive owing to sustained growth in non-extractive sectors, the international environment is less favorable than during the first review. Higher oil import prices and lower commodity export prices weigh on the external and fiscal positions; the economy remains dependent on commodity exports; and debt vulnerabilities and poverty remain high. Downside risks related to global economic developments and regional security are elevated. On the upside, development of the offshore gas field could generate large revenues from 2022 despite short-term costs.
International Monetary Fund
The paper gives statistical data on sectoral origin of gross domestic product at current prices and constant prices; expenditure at current market prices and at constant production in Kuwait. It provides data on disposal; and prices of oil and LPG; consumer and wholesale price index; output of major industrial products; population and employment; distribution of employees by economic activity and nationality; summary of government finance, revenue, monetary survey; and financial account reserves and net foreign assets of the financial sector along with other major areas.
International Monetary Fund. Middle East and Central Asia Dept.
This paper focuses on the Islamic Republic of Mauritania’s Request for Disbursement Under the Rapid Credit Facility. The economic and social impact of the pandemic is rapidly unfolding, with a contraction of output expected in 2020. The authorities have responded swiftly with measures to contain the pandemic and alleviate its fallout. Going forward, prioritizing health spending and targeted support to the most vulnerable households and sectors in the economy remains critical. The authorities are committed to full transparency and reporting of resources deployed for the emergency response, to audit crisis-mitigation spending once the crisis abates, and to publish the results. At the same time, they remain committed to the economic reform program supported by the ongoing ECF arrangement with the IMF. The program aims at using the fiscal space to increase priority spending on education, health and social protection and infrastructure, while mobilizing domestic revenues and maintaining prudent borrowing policies to preserve debt sustainability.
International Monetary Fund
Program implementation is satisfactory and economic activity is recovering in Mauritania. The budget preserves fiscal discipline and protects infrastructures and social spending. Greater flexibility in the exchange rate and an enhanced monetary policy framework will help build reserves. The structural program continues to focus on improving the business climate. The commitment for continued fiscal consolidation is commended by Executive Directors. This will help strengthen the country’s resilience to external shocks, improve the country’s prospects for mobilizing external support, sustain economic growth, create jobs, and reduce poverty.