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Richard M. Bird

Many developing countries must rely on taxation of the agricultural sector for a significant part of government revenue. The author discusses the policy issues involved in designing an effective system of agricultural taxation.

International Monetary Fund
This report provides the details of the IMF's projections and estimates of Vietnam on the summary of the tax systems; gross domestic product by expenditure categories; sector and ownership at current prices; gross domestic product by sector at constant prices during 1996–2002; consumer price inflation, 1999–2003; population and employment; gross value of industrial and agricultural production at constant prices; balance of payments during 1997–2002; summary of general government budgetary operations; government revenues and expenditures; exchange rate developments; treasury bills and bond issues during 1997–2003; summary of normal tariff schedule; common effective preferential tariff (CEPT) rates during 2000–03, and so on.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund
This Selected Issues paper on Vietnam contains background material on banking sector reform, state enterprise reform, external trade liberalization, and tax reform. The paper highlights that banking sector reforms in Vietnam were focused on the creation of a two-tier banking system, the establishment of private sector banks, rationalization of the interest rate structure, and improvements in prudential and supervisory regulations. However, state commercial banks still dominate the banking system. Nonperforming loans are increasing, monetary policy continues to rely heavily on direct controls, and money markets remain rudimentary.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund
This paper provides on analysis of the IMF's projections and estimates for Mauritania on gross domestic product by sector of origin at constant 1985 prices; growth of output by sector; gross domestic product and expenditures and savings at current prices; public utility rates; net production of electricity and water; civil service size and recruitment; consolidated government revenue, expenditures, and financial operations; treasury expenditure; monetary survey; balance of payments; services; assets and liabilities of the central bank and commercial banks; public investment program and its financing during 1995–99; summary of the tax systems, 2000, and so on.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund

This Selected Issues paper analyzes the use of fiscal rules in Poland and also suggests improvements. The study reviews the income tax reforms, developments in the polish tax system, and discusses the need and scope for public expenditure reform, employment, and the role of reforms of labor market institutions in reducing the unemployment rate. The paper highlights the trend in the saving-investment balance, the major determinants of private saving, and presents the results of a simple econometric analysis based on a panel dataset of selected transition economies.

International Monetary Fund. Western Hemisphere Dept.

KEY ISSUES Context: Peru remains one of the best performing economies in Latin America, with solid macroeconomic fundamentals, strong policy frameworks, and visible gains in poverty reduction. Like most of the region, Peru faced a challenging external environment in 2014. External shocks were compounded by domestic supply disruptions and a drop in subnational public investment, and growth decelerated sharply. Headline inflation was slightly above the upper band of the central bank’s (BCRP) target range due to supply shocks, but expectations remained well anchored. The external current account deficit declined slightly despite weaker external conditions. Outlook and risks: Growth is expected to recover in 2015 and over the medium term, contingent on production at new mines approaching capacity, priority infrastructure projects advancing, and shocks to terms of trade fading. However, downside risks dominate. Externally, these include a surge in global financial volatility, further dollar appreciation, or lower commodity prices and external demand. Domestic downside risks include weaker investment, uncertainties surrounding 2016 Presidential elections, and persistent social conflicts. A faster unwinding of supply shocks or a more complete pass- through of lower food and fuel global prices constitute upside risks. Near-term policy mix: The policy mix is broadly adequate to support the recovery and maintain macroeconomic stability. The immediate priority is expediting the execution of public investment in line with government plans, while avoiding increases in non-priority current spending. Monetary policy should remain responsive to inflation expectations and external developments. Exchange rate flexibility should be the main line of defense against any additional external pressures. The timely use of macro-prudential tools and ongoing de-dollarization efforts should further solidify financial stability. Medium-term prospects: With the end of the commodity boom, a push to deepen structural reforms will be necessary to sustain potential growth and diversify the economy. Revenue losses would need to be offset to finance structural reforms, investment, and inclusion along a gradual fiscal consolidation path. Streamlining legal requirements and red tape is rightly a government reform priority and the ambitious education reform and inclusion polices should stay their course within the framework of fiscal discipline. Persevering with labor market reform remains important.