Browse

You are looking at 1 - 10 of 64 items for :

  • Excise taxes x
  • Industries; Land Use; Labor x
  • Finance and accounting x
Clear All
International Monetary Fund. African Dept.

Abstract

Sub-Saharan Africa is set to enjoy a modest growth uptick. The average growth rate in the region is projected to rise from 2.8 percent in 2017 to 3.4 percent in 2018, with growth accelerating in about two-thirds of the countries in the region. The growth pickup has been driven largely by a more supportive external environment, including stronger global growth, higher commodity prices, and improved market access. While external imbalances have narrowed, the record on fiscal consolidation has been mixed and vulnerabilities are rising: about 40 percent of low-income countries in the region are now assessed as being in debt distress or at high risk of debt distress. On current policies, average growth in the region is expected to plateau below 4 percent—barely 1 percent in per capita terms— over the medium term, highlighting the need for deliberate actions to boost growth potential.

International Monetary Fund. African Dept.

Abstract

Domestic revenue mobilization is one of the most pressing policy challenges facing sub-Saharan African countries. While the reasons may vary according to country-specific circumstances, there are three aspects of domestic revenue mobilization that make it so important.

International Monetary Fund. African Dept.

Abstract

Private investment in sub-Saharan Africa is low compared with other countries with similar levels of economic development. The low level of private investment is constraining the region’s efforts to improve social outcomes by holding back labor productivity and the resulting gains in real wages and households’ income. In general, there appears to be a negative association between investment and poverty rates (Figure 3.1). The benefits from increasing investment are well recognized in the region. For example, many countries have engaged in major public investment programs to close large infrastructure gaps with a view to catalyzing private investment. But such a strategy can only be sustained for a limited amount of time, particularly if the private sector growth response is weak. With debt levels high and rising in many countries in the region, there is an increased focus on other options. Countries are participating in external investment initiatives such as the Group of Twenty’s (G20) Compact with Africa, which coordinates efforts to facilitate private investment and increase the provision of infrastructure, and China’s Belt and Road Initiative, which aims to help the region better integrate into global value chains. These initiatives aim to spur private and public investment by improving the business environment and by increasing the availability of financing. These efforts could improve the availability and allocation of resources for investment, and thus have the potential to raise medium-term growth prospects and living standards.

International Monetary Fund

The transitional program is broadly on track and quantitative program targets have been met, but structural reforms have been delayed. There are still risks to revenues and expenditures from possible judicial decisions, and the fiscal program may need to be adapted for changes in the macroeconomic framework. Monetary policy continues to face significant uncertainties, and priority needs to be given to providing a predictable regulatory framework for the banking system. Policy preparation can facilitate the transition to the new government.

Gunnar S. Eskeland

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

International Monetary Fund

This Selected Issues paper on Bolivia reports that it has experienced major increases in its gas reserves, production, and exports. Not only have their levels increased significantly, but also there have been extensive regulatory changes, which range from the privatization of the mid-1990s to the increase in the government’s tax take from the hydrocarbons industry. The government has reached new agreements with foreign oil companies that will allow foreign companies to continue recovering part of their old investments.

Richard J. Herrnstein, Charles Murray, William Easterly, Judy Shelton, Mr. Michael G. Spencer, Jeremy Edwards, Klaus Fischer, Mr. Daniel C Hardy, Adam Seymour, Robert Mabro, Dennis Anderson, John Miller, John Huddleston, Ashok V. Desai, and Deena Khatkhate

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

International Monetary Fund

This Selected Issues paper for Cambodia explores the implications for long-term sustainable growth from cross-country analysis of the sources of growth. Cambodia’s low labor productivity, inadequate and expensive infrastructure, and a cumbersome regulatory environment do not bode well for future sustainable growth. Favorable external conditions, including foreign aid flows and trade agreements, have helped propel growth. As with other transition economies, Cambodia lags in institutional and market development. Cambodia has also benefited from large aid inflows, which have boosted economic activity.