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Democratic Republic of São Tomé And Príncipe
			: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of São Tomé And Príncipe

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Democratic Republic of São Tomé And Príncipe : Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of São Tomé And Príncipe »

Volume/Issue: 2020/139

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 May 2020

Language: Portuguese

DOI: http://dx.doi.org/10.5089/9781513543901.002

ISBN: 9781513543901

Keywords: Rapid Credit Facility (RCF), External sector, Balance of payments, Debt service, Credit, Debt relief, ISCR, CR, percent of GDP, Proj

The COVID-19 pandemic is taking a heavy toll on São Tomé and Príncipe. Tourist arrivals came to an abrupt halt in mid-March, externally financed projects are being delayed, and international supply-chains are disru...

Grenada
			: Request for Disbursement Under the Rapid Credit Facility; Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Grenada

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Grenada : Request for Disbursement Under the Rapid Credit Facility; Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Grenada »

Volume/Issue: 192020/161

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 May 2020

DOI: http://dx.doi.org/10.5089/9781513543635.002

ISBN: 9781513543635

Keywords: Rapid Credit Facility (RCF), Economic recovery, Balance of payments, Public debt, Gross domestic product, Credit, ISCR, CR, primary balance, disbursement

Grenada is a tourism-dependent economy that has been severely affected by the global COVID-19 pandemic. Tourism, which accounts for over 80 percent of Grenada's total exports, has essentially come to a halt in Marc...

Niger
			: Fifth Review Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Niger

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Niger : Fifth Review Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Niger »

Volume/Issue: 2020/7

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 May 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513543925.002

ISBN: 9781513543925

Keywords: Development, External debt, Economic growth, Fiscal policy, Credit, ISCR, CR, PPPs, performance criterion, WAEMU

This paper discusses Niger's Fifth Review Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria. Niger faces daunting development challenges, aggravated by terrorist in...

Djibouti
			: Requests for Disbursement Under the Rapid Credit Facility and Debt Relief Under the Catastrophe Containment and Relief Trust-Press Release; and Staff Report; and Statement by the Executive Director for Djibouti

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Djibouti : Requests for Disbursement Under the Rapid Credit Facility and Debt Relief Under the Catastrophe Containment and Relief Trust-Press Release; and Staff Report; and Statement by the Executive Director for Djibouti »

Volume/Issue: 2020/159

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 May 2020

DOI: http://dx.doi.org/10.5089/9781513543574.002

ISBN: 9781513543574

Keywords: Rapid Credit Facility (RCF), Catastrophe Containment and Relief Trust (CCRT), Debt sustainability, Financial and Monetary Sector, Debt service, Balance of payments need, Debt relief, ISCR, CR, arrears

The COVID-19 pandemic has considerably weakened macroeconomic prospects for Djibouti. The country is facing a large negative external demand shock due to the global recession. Domestically, virus prevention and con...

Kyrgyz Republic
			: Request for Purchase Under the Rapid Financing Instrument and Disbursement under the Rapid Credit Facility-Press Release; and Staff Report

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Kyrgyz Republic : Request for Purchase Under the Rapid Financing Instrument and Disbursement under the Rapid Credit Facility-Press Release; and Staff Report »

Volume/Issue: 2020/1558

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 May 2020

DOI: http://dx.doi.org/10.5089/9781513543529.002

ISBN: 9781513543529

Keywords: Rapid Credit Facility (RCF), Rapid Financing Instrument (RFI), Balance of payments need, Balance of payments, Real sector, External sector, Public procurement, ISCR, CR, RCF

The outbreak of the COVID-19 pandemic has weakened the macroeconomic outlook. The authorities have launched a health care contingency plan and an initial package of economic measures, together totaling $31 million...

St. Lucia
			: Request for Disbursement Under the Rapid Credit Facility-Press Release; and Staff Report

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St. Lucia : Request for Disbursement Under the Rapid Credit Facility-Press Release; and Staff Report »

Volume/Issue: 2020/157

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 May 2020

DOI: http://dx.doi.org/10.5089/9781513543444.002

ISBN: 9781513543444

Keywords: Rapid Credit Facility (RCF), National income, Economic indicators, Balance of payments, Demographic indicators, Financial indicators, ISCR, CR, US$, disbursement

St. Lucia, a tourism-dependent economy in the Caribbean, has been hit hard by the COVID-19 pandemic. Tourism exports, which in a typical year would account for nearly 90 percent of the country's foreign exchange ea...

Nepal
			: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Nepal

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Nepal : Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Nepal »

Volume/Issue: 2020/155

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2020

DOI: http://dx.doi.org/10.5089/9781513543253.002

ISBN: 9781513543253

Keywords: Rapid Credit Facility (RCF), Development, Macroprudential policies and financial stability, Credit, Unemployment, Public debt, ISCR, CR, percent of GDP, Proj

The COVID-19 pandemic is having a severe impact on Nepal's economy. During recent months, remittances have fallen considerably, tourist arrivals collapsed, and domestic activity has taken a hit amidst social distan...

Mali
			: Requests for Disbursement Under the Rapid Credit Facility and Rephasing of Access Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Mali

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Mali : Requests for Disbursement Under the Rapid Credit Facility and Rephasing of Access Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Mali »

Volume/Issue: 2020/153

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 May 2020

DOI: http://dx.doi.org/10.5089/9781513543079.002

ISBN: 9781513543079

Keywords: Rapid Credit Facility (RCF), External sector, Debt service, Credit, Debt relief, Economic growth, ISCR, CR, disbursement, ECF

The COVID-19 pandemic has added to Mali's significant security and social challenges. The outbreak reached Mali relatively late, with first confirmed cases on March 24 and 293 cases (seventeen deaths) as of April 2...

Union of the Comoros
			: Request for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for the Union of the Comoros

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Union of the Comoros : Request for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for the Union of the Comoros »

Volume/Issue: 2020/152

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 May 2020

DOI: http://dx.doi.org/10.5089/9781513543048.002

ISBN: 9781513543048

Keywords: Rapid Credit Facility (RCF), Rapid Financing Instrument (RFI), Fiscal policy, Balance of payments, Reserve requirements, Balance of payments need, Central banks, ISCR, CR, RCF

While the authorities have so far not reported any COVID-19 cases in Comoros, the pandemic's economic impact is already being felt as remittances receipts have slowed, visitor arrivals have stopped, and liquidity p...

Democratic Republic of the Congo
			: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of the Congo

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Democratic Republic of the Congo : Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of the Congo »

Volume/Issue: 2020/146

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2020

DOI: http://dx.doi.org/10.5089/9781513542737.002

ISBN: 9781513542737

Keywords: Central banks, External sector, Balance of payments, Macroprudential policies and financial stability, Credit, ISCR, CR, DRC, RCF, Congolese authority

The Democratic Republic of the Congo is suffering directly from the COVID-19 pandemic with 215 confirmed cases and 20 deaths as of April 9. The economic impact, chiefly through lower commodity prices, was being fel...

Islamic Republic of Afghanistan
			: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Islamic Republic of Afghanistan

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Islamic Republic of Afghanistan : Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Islamic Republic of Afghanistan »

Volume/Issue: 2020/143

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2020

DOI: http://dx.doi.org/10.5089/9781513542591.002

ISBN: 9781513542591

Keywords: Rapid Credit Facility (RCF), External sector, Central banks, Economic reforms, Credit, Gross domestic product, ISCR, CR, domestic revenue, Proj

The COVID-19 pandemic and measures to contain it have worsened the outlook for Afghanistan's economy-already burdened by fragility, the ongoing conflict, and political uncertainty-and opened an urgent balance of pa...

Panama
			: Request for Purchase under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Panama

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Panama : Request for Purchase under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Panama »

Volume/Issue: 2020/147

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2020

DOI: http://dx.doi.org/10.5089/9781513542768.002

ISBN: 9781513542768

Keywords: Rapid Financing Instrument (RFI), Balance of payments need, Fiscal responsibility law, Fiscal policy, Balance of payments, Expenditures, ISCR, CR, RFI, GDP

While Panama has been one of the most dynamic economies in Latin America over the last two decades, its strength is being tested by the outbreak of the COVID-19 global pandemic. Panama is a service-based economy th...

Democratic Republic of São Tomé And Príncipe
			: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of São Tomé And Príncipe

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Democratic Republic of São Tomé And Príncipe : Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of São Tomé And Príncipe »

Volume/Issue: 2020/139

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 April 2020

DOI: http://dx.doi.org/10.5089/9781513542454.002

ISBN: 9781513542454

Keywords: Rapid Credit Facility (RCF), External sector, Balance of payments, Debt service, Credit, Debt relief, ISCR, CR, percent of GDP, Proj

The COVID-19 pandemic is taking a heavy toll on São Tomé and Príncipe. Tourist arrivals came to an abrupt halt in mid-March, externally financed projects are being delayed, and international supply-chains are disru...

Islamic Republic of Mauritania
			: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Islamic Republic of Mauritania

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Islamic Republic of Mauritania : Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Islamic Republic of Mauritania »

Volume/Issue: 2020/140

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 April 2020

DOI: http://dx.doi.org/10.5089/9781513542485.002

ISBN: 9781513542485

Keywords: Rapid Credit Facility (RCF), Debt sustainability, Social safety nets, Financial and Monetary Sector, Economic conditions, External sector, ISCR, CR, primary balance, RCF

The Covid-19 pandemic is having a dramatic human, economic, and social impact on Mauritania. The short-term economic outlook has weakened rapidly owing to the sharp deterioration in global conditions and the impact...

Republic of Mozambique
			: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Mozambique

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Republic of Mozambique : Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Mozambique »

Volume/Issue: 2020/141

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 April 2020

DOI: http://dx.doi.org/10.5089/9781513542515.002

ISBN: 9781513542515

Keywords: Rapid Credit Facility (RCF), Macroprudential policies and financial stability, Credit, External sector, Economic recovery, Central banks, ISCR, CR, megaprojects, percent of GDP

The COVID-19 pandemic is expected to hit Mozambique hard, and the authorities have requested emergency Fund financial assistance through the Rapid Credit Facility (RCF). As of April 16, Mozambique had reported 29 p...

Central African Republic
			: Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Central African Republic

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Central African Republic : Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Central African Republic »

Volume/Issue: 2020/137

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 April 2020

DOI: http://dx.doi.org/10.5089/9781513542362.002

ISBN: 9781513542362

Keywords: External sector, Debt sustainability, Debt service, Balance of payments, Central banks, ISCR, CR, C.A.R., response plan, percent of GDP

While the number of detected cases has so far been limited, the COVID-19 pandemic, if not contained, could have a considerable economic and social impact in C.A.R. and could exacerbate tensions in an already volati...

Samoa
			: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Samoa

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Samoa : Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Samoa »

Volume/Issue: 2020/138

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 April 2020

DOI: http://dx.doi.org/10.5089/9781513542409.002

ISBN: 9781513542409

Keywords: Rapid Credit Facility (RCF), Balance of payments, Balance of payments need, External debt, Debt sustainability, Gross domestic product, ISCR, CR, percent of GDP, measles outbreak

Samoa, with a population of around 0.2 million, suffered from a severe measles outbreak in late-2019 (claimed 83 lives and resulted in over 5,700 cases), which led to a much larger economic contraction than that of...

Gabon
			: Request for a Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Gabon

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Gabon : Request for a Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Gabon »

Volume/Issue: 2020/109

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 April 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513542324.002

ISBN: 9781513542324

Keywords: ISCR, CR, non-oil, Proj, percent of GDP, extended arrangement, overall balance

The COVID-19 pandemic and concurrent collapse in oil prices are expected to put the economy under extreme stress, particularly in a context of limited buffers. Economic growth will slow, and the fiscal and external...

Cabo Verde
			: First Review Under the Policy Coordination Instrument and Request for Modification of Targets

Cabo Verde : First Review Under the Policy Coordination Instrument and Request for Modification of Targets »

Volume/Issue: 2020/135

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 April 2020

DOI: http://dx.doi.org/10.5089/9781513542225.002

ISBN: 9781513542225

Keywords: External sector, Balance of payments, Development, Economic indicators, Gross domestic product, ISCR, CR, Proj, SOEs, percent of GDP

Cabo Verde's economic situation has been improving in recent years, with growth above historical trends, low inflation, strengthening fiscal and external positions, and declining public debt-to-GDP ratio. Inefficie...

Cabo Verde
			: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Cabo Verde

Cabo Verde : Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Cabo Verde »

Volume/Issue: 2020/136

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 April 2020

DOI: http://dx.doi.org/10.5089/9781513542263.002

ISBN: 9781513542263

Keywords: Rapid Credit Facility (RCF), External sector, Credit, Public debt, External debt, Balance of payments need, ISCR, CR, RCF, primary balance

In recent years, economic growth has been robust, inflation low, the external and fiscal positions have been improving, and fiscal risks were reduced with progress in State-Owned Enterprises reforms. These results...

Cote d'Ivoire
			: Requests for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Côte d'Ivoire

Cote d'Ivoire : Requests for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Côte d'Ivoire »

Volume/Issue: 2020/132

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 April 2020

DOI: http://dx.doi.org/10.5089/9781513542041.002

ISBN: 9781513542041

Keywords: Rapid Credit Facility (RCF), Rapid Financing Instrument (RFI), Debt sustainability, Fiscal policy, Balance of payments need, External debt, Gross domestic product, ISCR, CR, finance gap

Côte d'Ivoire will be significantly impacted by COVID-19 pandemic: the number of cases in the country has increased rapidly since the first confirmed case was reported on March 11 and the global crisis is expected...

Chad
			: Requests for Disbursement under the Rapid Credit Facility, Extension of the Extended Credit Facility Arrangement, and Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for Chad

Chad : Requests for Disbursement under the Rapid Credit Facility, Extension of the Extended Credit Facility Arrangement, and Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for Chad »

Volume/Issue: 2020/134

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 April 2020

DOI: http://dx.doi.org/10.5089/9781513542140.002

ISBN: 9781513542140

Keywords: Rapid Credit Facility (RCF), Extended Credit Facility, External sector, Public debt, External debt, Current account deficits, Oil prices, ISCR, CR, percent of GDP

The outbreak of COVID-19 and concurrent collapse in oil prices are having a severe economic and social impact on Chad and could jeopardize the gains achieved under the current Extended Credit Facility (ECF) arrange...

Maldives
			: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Maldives

Maldives : Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Maldives »

Volume/Issue: 2020/133

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 April 2020

DOI: http://dx.doi.org/10.5089/9781513542096.002

ISBN: 9781513542096

Keywords: Rapid Credit Facility (RCF), External sector, Debt sustainability, Expenditures, Credit, Gross domestic product, ISCR, CR, percent of GDP, RCF

The Maldives is suffering from the impact of the COVID-19 pandemic. The Maldivian economy is one of the most dependent countries on tourism. GDP growth is projected to be about -8.1 percent in 2020, about 15 percen...

Niger
			: Requests for Disbursement Under the Rapid Credit Facility and for Rephasing of Access Under the Extended Credit Facility -Press Release; Staff Report; and Statement by the Executive Director for Niger

Niger : Requests for Disbursement Under the Rapid Credit Facility and for Rephasing of Access Under the Extended Credit Facility -Press Release; Staff Report; and Statement by the Executive Director for Niger »

Volume/Issue: 2020/128

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 April 2020

DOI: http://dx.doi.org/10.5089/9781513541853.002

ISBN: 9781513541853

Keywords: Credit, Economic reforms, National income, Public finance, Financial indicators, ISCR, CR, RCF, WAEMU, ECF

The COVID-19 pandemic is inflicting significant damage on Niger's economy at a time when the government is already faced with the deteriorating security situation across the Sahel region. A first local infection wa...

The Gambia
			: Requests for Disbursement Under the Rapid Credit Facility and Modification of Performance Criteria Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for The Gambia

The Gambia : Requests for Disbursement Under the Rapid Credit Facility and Modification of Performance Criteria Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for The Gambia »

Volume/Issue: 2020/131

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 April 2020

DOI: http://dx.doi.org/10.5089/9781513541921.002

ISBN: 9781513541921

Keywords: Rapid Credit Facility (RCF), External sector, Financial and Monetary Sector, International reserves, Macroprudential policies and financial stability, Credit, ISCR, CR, RCF, disbursement

On March 23, 2020, the Executive Board of the IMF approved a 39-month Extended Credit Facility (ECF) arrangement for The Gambia in the amount of SDR 35.0 million (equivalent to 56.3 percent of quota). Faced with th...

Republic of Moldova
			: Staff Report for the 2020 Request for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Moldova

Republic of Moldova : Staff Report for the 2020 Request for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Moldova »

Volume/Issue: 2020/129

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 April 2020

DOI: http://dx.doi.org/10.5089/9781513541884.002

ISBN: 9781513541884

Keywords: Rapid Credit Facility (RCF), Rapid Financing Instrument (RFI), Macroprudential policies and financial stability, Real sector, External sector, Balance of payments, Credit, ISCR, CR, NBM

Thanks to recent reforms, Moldova entered the current crisis with strong fiscal, financial, and external buffers. However, the economic outlook has deteriorated sharply due to the COVID-19 pandemic. GDP is expected...

Panama
			: 2020 Article IV Consultation-Press Release; and Staff Report

Panama : 2020 Article IV Consultation-Press Release; and Staff Report »

Volume/Issue: 2020/124

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 April 2020

DOI: http://dx.doi.org/10.5089/9781513541594.002

ISBN: 9781513541594

Keywords: External sector, Real sector, Economic indicators, Social indicators, Financial soundness indicators, ISCR, CR, FATF, percent of GDP, staff report

The Staff Report was prepared by a staff team of the IMF for the Executive Board's consideration on March 24, 2020. The staff report reflects discussions with the Panamanian authorities during February 4-17, 2020 a...

Haiti
			: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Haiti

Haiti : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Haiti »

Volume/Issue: 2020/121

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 April 2020

DOI: http://dx.doi.org/10.5089/9781513541464.002

ISBN: 9781513541464

Keywords: Real sector, Central banks, Public financial management, Expenditures, Economic indicators, ISCR, CR, BRH, EDH, Proj

Staff Report prepared by a staff team of the IMF for the Executive Board's consideration on January 24, 2020. The staff report reflects discussions with the Haiti authorities in November 2019 and is based on the in...

Haiti
			: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Haiti

Haiti : Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Haiti »

Volume/Issue: 2020/123

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 April 2020

DOI: http://dx.doi.org/10.5089/9781513541549.002

ISBN: 9781513541549

Keywords: Rapid Credit Facility (RCF), Central banks, External sector, Social safety nets, Balance of payments, Credit, ISCR, CR, RCF, Proj

From mid-2018 until early 2020, Haiti experienced political instability and intermittent social unrest that paralyzed the economy and impeded the implementation of economic policies. This protracted crisis placed s...

IMF Managing Director's Statement to the Development Committee, April 2020

IMF Managing Director's Statement to the Development Committee, April 2020 »

Volume: 20

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 April 2020

DOI: http://dx.doi.org/10.5089/9781513541181.007

ISBN: 9781513541181

Keywords: Financial crises, Financial markets, Social safety nets, Financial institutions, Macroprudential policies and financial stability, PP, policy space, coronavirus, pandemic, policymaker

The global coronavirus outbreak is a crisis like no other and poses daunting challenges for policymakers in many emerging market and developing economies (EMDEs), especially where the pandemic encounters weak publi...

Pakistan
			: Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Pakistan

Pakistan : Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Pakistan »

Volume/Issue: 2020/114

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 April 2020

DOI: http://dx.doi.org/10.5089/9781513541099.002

ISBN: 9781513541099

Keywords: Rapid Financing Instrument (RFI), Social safety nets, Balance of payments need, Macroprudential policies and financial stability, Financial and Monetary Sector, Credit, ISCR, CR, SBP, pakistani authority

Pakistan is facing unprecedented health and economic shocks from the rapid propagation of the Covid-19 outbreak. Growth is expected to contract sharply, by -1.5 percent in FY 2020, as the economy is buffeted by dem...

Sierra Leone
			: 2019 Article IV Consultation, Second Review Under the Extended Credit Facility Credit Facility Arrangement, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review

Sierra Leone : 2019 Article IV Consultation, Second Review Under the Extended Credit Facility Credit Facility Arrangement, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review »

Volume/Issue: 2020/116

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 April 2020

DOI: http://dx.doi.org/10.5089/9781513541273.002

ISBN: 9781513541273

Keywords: Central banks, External sector, Credit, Development, Public financial management, ISCR, CR, BSL, arrears, ECF

Good progress has been made in stabilizing Sierra Leone's economy. After coming to office in April 2018, the Government moved quickly to implement key reforms. After stabilizing in 2018, growth recovered in 2019. F...

Benin
			: Fifth Review under the Extended Credit Facility Arrangement, Request for Extension, and Request for Modification of Performance Criteria-Press Release; and Staff Report

Benin : Fifth Review under the Extended Credit Facility Arrangement, Request for Extension, and Request for Modification of Performance Criteria-Press Release; and Staff Report »

Volume/Issue: 2019/398

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 April 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513541068.002

ISBN: 9781513541068

Keywords: External sector, Debt management, Credit, External debt, Gross domestic product, ISCR, CR, rebasing, net lend, Eurobond

This paper discusses Benin's Fifth Review Under the Extended Credit Facility Arrangement, Request for Extension, and Request for Modification of Performance Criteria. Program implementation continues to be very sat...

Gabon
			: Request for a Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Gabon

Gabon : Request for a Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Gabon »

Volume/Issue: 2020/109

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 April 2020

DOI: http://dx.doi.org/10.5089/9781513540832.002

ISBN: 9781513540832

Keywords: Rapid Financing Instrument (RFI), Balance of payments, Oil prices, Terms of trade, Economic recovery, Macroprudential policies and financial stability, ISCR, CR, non-oil, Proj

The COVID-19 pandemic and concurrent collapse in oil prices are expected to put the economy under extreme stress, particularly in a context of limited buffers. Economic growth will slow, and the fiscal and external...

Guinea
			: Fourth Review under the Extended Credit Facility Arrangement, and Financing Assurances Review -Press Release; Staff Report; and Statement by the Executive Director for Guinea

Guinea : Fourth Review under the Extended Credit Facility Arrangement, and Financing Assurances Review -Press Release; Staff Report; and Statement by the Executive Director for Guinea »

Volume/Issue: 2020/111

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 April 2020

DOI: http://dx.doi.org/10.5089/9781513540931.002

ISBN: 9781513540931

Keywords: Extended Credit Facility, Social safety nets, Credit, Public financial management, Development, External debt, ISCR, CR, ECF, percent of GDP

Real growth is expected at 5.8 percent in 2020, supported by rebounding mining production and investment-led construction activity. Legislative elections and a referendum for a new constitution will be held in Marc...

Jordan
			: 2020 Article IV Consultation and Request for an Extended Arrangement under the Extended Fund Facility-Press Releases; Staff Report; and Statement by the Alternate Executive Director for Jordan

Jordan : 2020 Article IV Consultation and Request for an Extended Arrangement under the Extended Fund Facility-Press Releases; Staff Report; and Statement by the Alternate Executive Director for Jordan »

Volume/Issue: 2020/101

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 April 2020

DOI: http://dx.doi.org/10.5089/9781513540306.002

ISBN: 9781513540306

Keywords: Balance of payments, External sector, Economic conditions, Public financial management, Social safety nets, ISCR, CR, CBJ, NEPCO, Proj

Jordan has made progress in reforming its economy since the 2017 Article IV consultation, but significant challenges remain. Despite a difficult environment, macroeconomic stability has been preserved, external imb...

Togo
			: Sixth Review under the Extended Credit Facility Arrangement and Request for Augmentation of Access-Press Release; Staff Report; and Statement by the Executive Director for Togo

Togo : Sixth Review under the Extended Credit Facility Arrangement and Request for Augmentation of Access-Press Release; Staff Report; and Statement by the Executive Director for Togo »

Volume/Issue: 2020/107

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 April 2020

DOI: http://dx.doi.org/10.5089/9781513540719.002

ISBN: 9781513540719

Keywords: Public debt, Debt sustainability, Revenue administration, Economic growth, Public financial management, ISCR, CR, primary balance, WAEMU, overall balance

This report was initially prepared based on discussions with the Togolese authorities in end 2019 and early 2020 in the context of the sixth review of the ECF arrangement. The report has been revised to respond to...

Fiscal Monitor, April 2020
			: Policies to Support People During the COVID-19 Pandemic

Fiscal Monitor, April 2020 : Policies to Support People During the COVID-19 Pandemic »

Series: Fiscal Monitor

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 2020

DOI: http://dx.doi.org/10.5089/9781513537511.089

ISBN: 9781513537511

Keywords: Public finance, Tax policy, Debt and growth, Fiscal policy, Low-income developing countries, Fiscal space, Tax reforms, COVID-19; coronavirus; pandemic; fiscal measures; health crisis; fiscal stimulus; fiscal policy

This report argues that fiscal policies are at the forefront of responding to the COVID-19 pandemic. Fiscal measures can save lives, protect the most-affected people and firms from the economic impact of the pandem...

The Gambia
			: First Review of the Staff-Monitored Program and Request for a 39-Month Arrangement under the Extended Credit Facility

The Gambia : First Review of the Staff-Monitored Program and Request for a 39-Month Arrangement under the Extended Credit Facility »

Volume/Issue: 2020/102

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2020

DOI: http://dx.doi.org/10.5089/9781513540351.002

ISBN: 9781513540351

Keywords: Central banks, Credit, External sector, International reserves, Financial and Monetary Sector, ISCR, CR, SOEs, primary balance, CBG

The Gambia remains a fragile state, grappling with a large public debt burden and the legacy of mismanagement left by the previous regime. Considerable progress has been achieved under the transitional justice agen...

Republic of Madagascar
			: Request for Disbursement under the Rapid Credit Facility-Press Release and Staff Report; and Statement by the Executive Director for the Republic of Madagascar

Republic of Madagascar : Request for Disbursement under the Rapid Credit Facility-Press Release and Staff Report; and Statement by the Executive Director for the Republic of Madagascar »

Volume/Issue: 2020/100

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 April 2020

DOI: http://dx.doi.org/10.5089/9781513540214.002

ISBN: 9781513540214

Keywords: Balance of payments, Credit, Economic policy, External debt, Macroprudential policies and financial stability, ISCR, CR, RCF, pandemic, finance gap

The Covid-19 pandemic is having a severe impact on Madagascar's economy. During the last two months, tourist arrivals have declined dramatically, and disruptions are beginning to materialize in mining and manufactu...

Catastrophe Containment and Relief Trust
			: Policy Proposals and Funding Strategy

Catastrophe Containment and Relief Trust : Policy Proposals and Funding Strategy »

Volume: 20

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 April 2020

DOI: http://dx.doi.org/10.5089/9781513539454.007

ISBN: 9781513539454

Keywords: Debt service, Debt relief, Balance of payments need, Balance of payments, Debt service payments, PP, global pandemic, executive board, pandemic, proposed decision

In direct response to the COVID-19 crisis the International Monetary Fund (IMF) Executive Board has adopted some immediate enhancements to its Catastrophe Containment and Relief Trust (CCRT) to enable the Fund to p...

Kingdom of the Netherlands-Curacao and Sint Maarten
			: 2019 Article IV Consultation-Press Release and Staff Report; and Statement by the Executive Director for the Kingdom of the Netherlands-Curacao and Sint Maarten

Kingdom of the Netherlands-Curacao and Sint Maarten : 2019 Article IV Consultation-Press Release and Staff Report; and Statement by the Executive Director for the Kingdom of the Netherlands-Curacao and Sint Maarten »

Volume/Issue: 2020/94

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2020

DOI: http://dx.doi.org/10.5089/9781513539362.002

ISBN: 9781513539362

Keywords: Balance of payments, Financial soundness indicators, Economic indicators, Financial statistics, Public financial management, ISCR, CR, percent change, percent of GDP, overall balance

Board's consideration on March 18, 2020. The staff report reflects discussions with the Kingdom of the Netherlands-Curaçao and Sint Maarten authorities in November 2019 and is based on the information available as...

Central African Republic
			: Request for a Three-Year Arrangement under the Extended Credit Facility-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for the Central African Republic

Central African Republic : Request for a Three-Year Arrangement under the Extended Credit Facility-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for the Central African Republic »

Volume/Issue: 2020/1

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513539393.002

ISBN: 9781513539393

Keywords: Fiscal policy, Public financial management, Development, Financial and Monetary Sector, Revenue mobilization, ISCR, CR, C.A.R., percent of GDP, arrears

This paper discusses Central African Republic's (CAR) Request for a Three-Year Arrangement Under the Extended Credit Facility. Consistent with the IMF's Country Engagement Strategy, the IMF-supported program is exp...

Angola
			: Second Review of the Extended Arrangement Under the Extended Fund Facility, Requests for a Waiver of Nonobservance of Performance Criteria, Modifications of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Angola

Angola : Second Review of the Extended Arrangement Under the Extended Fund Facility, Requests for a Waiver of Nonobservance of Performance Criteria, Modifications of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Angola »

Volume/Issue: 2019/371

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 March 2020

Language: Portuguese

DOI: http://dx.doi.org/10.5089/9781513538914.002

ISBN: 9781513538914

Keywords: Balance of payments, Financial institutions, External debt, Fiscal policy, International reserves, ISCR, CR, non-oil, BNA, Proj

The economic outlook has deteriorated since the First Review. Real GDP is expected to contract in 2019, driven by lower-than-expected oil production. Disinflation is expected to halt, inter alia because of increase...

Somalia
			: Enhanced Heavily Indebted Poor Countries (HIPC) Initiative-Decision Point Document

Somalia : Enhanced Heavily Indebted Poor Countries (HIPC) Initiative-Decision Point Document »

Volume/Issue: 2020/86

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 March 2020

DOI: http://dx.doi.org/10.5089/9781513538327.002

ISBN: 9781513538327

Keywords: External sector, Debt sustainability, Debt relief, External debt, Debt service, ISCR, CR, HIPC, completion point, NPV

This paper presents an assessment of Somalia's eligibility for assistance under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The macroeconomic framework reflects the policy framework underlying t...

Somalia
			: Poverty Reduction Strategy Paper-Joint Staff Advisory Note

Somalia : Poverty Reduction Strategy Paper-Joint Staff Advisory Note »

Volume/Issue: 2020/87

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 March 2020

DOI: http://dx.doi.org/10.5089/9781513538358.002

ISBN: 9781513538358

Keywords: Financial and Monetary Sector, Economic policy, Economic conditions, Economic reforms, Economic growth, ISCR, CR, FGS, HIPC, SHFS

This Joint Staff Advisory Note on the Poverty Reduction Strategy Paper discusses that Somalia has made noteworthy progress since 2012 to recover from decades of conflict and state fragmentation. The country has suc...

Somalia
			: Second Review Under the Staff-Monitored Program and Request for Three-Year Arrangements Under the Extended Credit and The Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Somalia

Somalia : Second Review Under the Staff-Monitored Program and Request for Three-Year Arrangements Under the Extended Credit and The Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Somalia »

Volume/Issue: 2020/85

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 March 2020

DOI: http://dx.doi.org/10.5089/9781513538297.002

ISBN: 9781513538297

Keywords: Financial and Monetary Sector, Public financial management, Social safety nets, Central banks, Debt management, ISCR, CR, HIPC, arrears, FGS

This paper discusses Somalia's Second Review Under the Staff-Monitored Program and Request for Three-Year Arrangements Under the Extended Credit and the Extended Fund Facility. The three-year financing package will...

Republic of Moldova
			: Selected Issues

Republic of Moldova : Selected Issues »

Volume/Issue: 2020/77

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 March 2020

DOI: http://dx.doi.org/10.5089/9781513537320.002

ISBN: 9781513537320

Keywords: Financial regulation and supervision, Tax evasion, Expenditure efficiency, Money laundering, Central bank independence, ISCR, CR, global competitiveness index, CFT, AML

This Selected Issues paper provides a systematic assessment of Moldova's governance and institutional frameworks. It follows guidelines approved by the IMF executive board, which were developed to deliver systemati...

Benin
			: Technical Assistance Report-Public Investment Management Assessment

Benin : Technical Assistance Report-Public Investment Management Assessment »

Volume/Issue: 2020/28

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 March 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513537214.002

ISBN: 9781513537214

Keywords: Public financial management, Public investments, Fiscal policy, Economic policy, Financial management information systems, ISCR, CR, PPPs, ex-post, public investment

The Public Investment Management Assessment (PIMA) of Benin has brought to light an institutional framework of high quality but ineffective implementation. In accordance with the PIMA methodology applied in several...

Republic of Congo
			: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Congo

Republic of Congo : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Congo »

Volume/Issue: 2020/26

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 March 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513537061.002

ISBN: 9781513537061

Keywords: External sector, Debt sustainability, Public debt, External debt, Economic indicators, ISCR, CR, arrears, Congolese authority, non-oil

The economic situation remains difficult but there are some initial signs of stability, and non-oil growth could turn positive for the first time since 2015. The political environment is stable, though there is dis...

Republic of Congo
			: Selected Issues

Republic of Congo : Selected Issues »

Volume/Issue: 2020/27

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 March 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513537092.002

ISBN: 9781513537092

Keywords: Oil sector, Fiscal policy, Oil revenues, Tax policy, Tax revenue, ISCR, CR, Congolese authority, non-oil, arrears

Selected Issues...

Sudan
			: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Sudan

Sudan : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Sudan »

Volume/Issue: 2020/72

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 March 2020

DOI: http://dx.doi.org/10.5089/9781513536712.002

ISBN: 9781513536712

Keywords: Social safety nets, Balance of payments, Central banks, Public financial management, Multiple currency practices, ISCR, CR, fuel subsidy, percent, Proj

This 2019 Article IV Consultation with Sudan discusses that regime change has created a window of opportunity for fundamental reforms to address major macro imbalances and lay the groundwork for inclusive growth. T...

Sudan
			: Selected Issues

Sudan : Selected Issues »

Volume/Issue: 2020/73

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 March 2020

DOI: http://dx.doi.org/10.5089/9781513536743.002

ISBN: 9781513536743

Keywords: Central banks, Tax revenue, Economic growth, Oil revenues, Financial institutions, ISCR, CR, weak governance, CNPC, SOEs

This Selected Issues paper on Sudan provides a first stock-taking of the scale, main transmission channels and potential costs of poor governance and corruption in Sudan and offers preliminary recommendations. A la...

Eastern Caribbean Currency Union
			: Selected Issues

Eastern Caribbean Currency Union : Selected Issues »

Volume/Issue: 2020/71

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 March 2020

DOI: http://dx.doi.org/10.5089/9781513536262.002

ISBN: 9781513536262

Keywords: Economic growth, Economic integration, Economic functions, Financial systems, Central banks, ISCR, CR, ECCU, ECCB, RSF

This Selected Issues paper focuses on the need and importance of fiscal integration for the Eastern Caribbean Currency Union (ECCU). The continued success of the currency union can be solidified by greater fiscal p...

Republic of Madagascar
			: 2019 Article IV Consultation and Sixth Review Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar

Republic of Madagascar : 2019 Article IV Consultation and Sixth Review Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar »

Volume/Issue: 2020/60

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2020

DOI: http://dx.doi.org/10.5089/9781513534176.002

ISBN: 9781513534176

Keywords: Economic growth, External sector, Public financial management, Fiscal policy, Public investments, ISCR, CR, social spend, medium-term, percent of GDP

This paper presents 2019 Article IV Consultation with the Republic of Madagascar and its Sixth Review Under the Extended Credit Facility (ECF) Arrangement. Madagascar's performance under its economic program suppor...

Republic of Madagascar
			: Selected Issues

Republic of Madagascar : Selected Issues »

Volume/Issue: 2020/61

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2020

DOI: http://dx.doi.org/10.5089/9781513534213.002

ISBN: 9781513534213

Keywords: Tax revenue, External sector, Development, Revenue mobilization, Central banking and monetary issues, ISCR, CR, public investment, scale-up, BFM

This Selected Issues paper analyses tax revenue mobilization potential in Madagascar and lessons learned from successful episodes in sub-Saharan African (SSA) countries. The analysis shows that there is a significa...

Burkina Faso
			: Third Review under the Extended Credit Facility Arrangement-Press Release; and Staff Report

Burkina Faso : Third Review under the Extended Credit Facility Arrangement-Press Release; and Staff Report »

Volume: 20

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 February 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513533841.002

ISBN: 9781513533841

Keywords: External sector, Public financial management, Economic growth, Expenditures, Inflation, ISCR, CR, percent of GDP, Proj, WAEMU

Third Review under the Extended Credit Facility Arrangement-Press Release; and Staff Report...

Exploring Residual Profit Allocation

Exploring Residual Profit Allocation »

Volume/Issue: 2020/49

Series: IMF Working Papers

Author(s): Sebastian Beer , Ruud A. Mooij , Shafik Hebous , Michael Keen , and Li Liu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 February 2020

DOI: http://dx.doi.org/10.5089/9781513528328.001

ISBN: 9781513528328

Keywords: Marginal effective tax rate, Low-income developing countries, Gross capital formation, Tax revenue, Effective tax rate, Residual Profit Allocation, International Corporate Taxation, Multinational Firms, WP, residual profit

Schemes of residual profit allocation (RPA) tax multinationals by allocating their ‘routine' profits to countries in which their activities take place and sharing their remaining ‘residual' profit across countries...

Nicaragua
			: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Nicaragua

Nicaragua : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Nicaragua »

Volume/Issue: 2020/59

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 February 2020

DOI: http://dx.doi.org/10.5089/9781513532622.002

ISBN: 9781513532622

Keywords: Financial and Monetary Sector, Central banks, Economic integration, Real sector, Financial systems, ISCR, CR, percent of GDP, national authority, INSS

This 2019 Article IV Consultation with Nicaragua highlights that social unrest and its aftermath eroded confidence and caused large capital and bank deposits outflows that resulted in a prolonged output contraction...

How to Design Subnational Fiscal Rules
			: A Primer

How to Design Subnational Fiscal Rules : A Primer »

Volume: 20

Series: IMF How To Notes

Author(s): Luc Eyraud , Andrew Hodge , John Ralyea , and Julien Reynaud

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 February 2020

DOI: http://dx.doi.org/10.5089/9781513527031.061

ISBN: 9781513527031

Keywords: Fiscal rules, Fiscal rules and institutions, Economic stabilization, Public financial management, Economic policy, Regional economics, Economic cooperation, subnational, debt service, public borrowing

This note discusses how to design subnational fiscal rules, including how to select them and calibrate them. It expands on the guidance provided at the national level on rule selection and calibration in IMF (2018a...

St. Lucia
			: 2019 Article IV Consultation-Press Release; and Staff Report

St. Lucia : 2019 Article IV Consultation-Press Release; and Staff Report »

Volume/Issue: 2020/54

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 February 2020

DOI: http://dx.doi.org/10.5089/9781513530963.002

ISBN: 9781513530963

Keywords: Real sector, Economic indicators, Balance of payments, Financial indicators, Financial systems, ISCR, CR, ECCB, ECCU, Lucia

This 2019 Article IV Consultation explains that St. Lucia's near-term growth prospects are favorable, supported by large infrastructure investment and robust tourist inflows. However, longer-term growth continues t...

Toward a Comprehensive Tax Reform for Italy

Toward a Comprehensive Tax Reform for Italy »

Volume/Issue: 2020/37

Series: IMF Working Papers

Author(s): Emile Cammeraat , and Ernesto Crivelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 February 2020

DOI: http://dx.doi.org/10.5089/9781513529226.001

ISBN: 9781513529226

Keywords: Recurrent taxes on immovable property, Tax revenue, Tax reforms, Tax evasion, Tax rates, Italy, personal income tax, VAT, property tax, microsimulations

This paper evaluates elements of a comprehensive reform of the Italian tax system. Reform options are guided by the principles of reducing complexity, broadening the tax base, and lowering marginal tax rates, espec...

Collateralized Transactions
			: Key Considerations for Public Lenders and Borrowers

Collateralized Transactions : Key Considerations for Public Lenders and Borrowers »

Volume: 20

Series: Policy Papers

Author(s): International Monetary Fund;World Bank

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 February 2020

DOI: http://dx.doi.org/10.5089/9781513530703.007

ISBN: 9781513530703

Keywords: Credit, Financial institutions, Public investments, Debt management, Capital markets, PP, borrower, lender, collateral, receivable

In a response to a request from the G20 IFA Working Group, this note provides a framework for public lenders and borrowers to assess collateralized financing practices from a development perspective. The work of th...

Cameroon
			: Fifth Review Under the Extended Credit Facility Arrangement and Request for a Waiver of Nonobservance of a Performance Criterion and Modification Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Cameroon

Cameroon : Fifth Review Under the Extended Credit Facility Arrangement and Request for a Waiver of Nonobservance of a Performance Criterion and Modification Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Cameroon »

Volume/Issue: 2020/48

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 February 2020

DOI: http://dx.doi.org/10.5089/9781513530383.002

ISBN: 9781513530383

Keywords: Financial and Monetary Sector, Fiscal sector, Macroprudential policies and financial stability, Credit, Development, ISCR, CR, SOEs, non-oil, primary balance

This paper discusses Cameroon's Fifth Review Under the Extended Credit Facility Arrangement and Request for a Waiver of NonObservance of a Performance Criterion and Modification of Performance Criteria (PC). Growth...

Senegal
			: Request for a Three-Year Policy Coordination Instrument-Press Release; Staff Report; and Statement by the Executive Director for Senegal

Senegal : Request for a Three-Year Policy Coordination Instrument-Press Release; Staff Report; and Statement by the Executive Director for Senegal »

Volume/Issue: 2020/11

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 February 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513530529.002

ISBN: 9781513530529

Keywords: External sector, Fiscal policy, Economic growth, Public debt, Development, ISCR, CR, percent of GDP, Eurobond, WAEMU

Economic growth averaged 6.5 percent over the past five years, boosted by public investment under phase I of Senegal's development strategy, the 'Plan Sénégal Émergent' (PSE), and buoyant private consumption. High...

Solomon Islands
			: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Solomon Islands

Solomon Islands : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Solomon Islands »

Volume/Issue: 2020/49

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 February 2020

DOI: http://dx.doi.org/10.5089/9781513530567.002

ISBN: 9781513530567

Keywords: External sector, Public financial management, Fiscal policy, Economic indicators, Central banks, ISCR, CR, pacific game, Proj, percent of GDP

This 2019 Article IV Consultation with the Solomon Islands highlights that the country has made substantial progress since the Tensions in the early 2000s but faces considerable economic and governance challenges a...

Women in the Labor Force
			: The Role of Fiscal Policies

Women in the Labor Force : The Role of Fiscal Policies »

Volume/Issue: 2020/3

Series: Staff Discussion Notes

Author(s): Anna Fruttero , Daniel Gurara , Lisa Kolovich , Vivian Malta , Marina Mendes Tavares , Nino Tchelishvili , and Stefania Fabrizio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 February 2020

DOI: http://dx.doi.org/10.5089/9781513529134.006

ISBN: 9781513529134

Keywords: Gender, Labor force policy, Gender equality, Fiscal policy, Labor productivity, Poverty, Poverty and inequality, General equilibrium models, Labor force participation, Labor market policy

Despite the increase in female labor force participation over the past three decades, women still do not have the same opportunities as men to participate in economic activities in most countries. The average femal...

Republic of Armenia
			: Technical Assistance Report-Strategic Choices for Tax Administration to Enhance Tax Compliance

Republic of Armenia : Technical Assistance Report-Strategic Choices for Tax Administration to Enhance Tax Compliance »

Volume/Issue: 2020/45

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 February 2020

DOI: http://dx.doi.org/10.5089/9781513530277.002

ISBN: 9781513530277

Keywords: Revenue administration, Tax revenue, Tax policy, Tax administration, Tax reforms, ISCR, CR, SRC, taxpayer, tax regime

This technical assistance report on Republic of Armenia advices on advises on strategic choices for tax administration and compliance risk management. It complements the March 2018 tax administration mission, which...

Taking Down the Wall: Transition and Inequality

Taking Down the Wall: Transition and Inequality »

Volume/Issue: 2020/32

Series: IMF Working Papers

Author(s): Serhan Cevik , and Carolina Correa-Caro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 February 2020

DOI: http://dx.doi.org/10.5089/9781513527871.001

ISBN: 9781513527871

Keywords: Income inequality, Economic reforms, Economic growth, Demographic indicators, Income distribution, fiscal policy, transition economies, WP, Gini coefficient, Gini

This paper investigates the main determinants of income inequality in transition countries during the period 1990-2018. To this end, we address a major methodological challenge that lies at the core of the cross-co...

Somalia
			: Enhanced Heavily-Indebted Poor Countries (HIPC) Initiative-Preliminary Document

Somalia : Enhanced Heavily-Indebted Poor Countries (HIPC) Initiative-Preliminary Document »

Volume/Issue: 2020/44

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2020

DOI: http://dx.doi.org/10.5089/9781513530208.002

ISBN: 9781513530208

Keywords: Debt relief, Development, Poverty reduction strategy, External debt, Financial institutions, ISCR, CR, HIPC, HIPC initiative, FGS

This Enhanced Heavily Indebted Poor Countries (HIPC) Initiative Program's preliminary document discusses that as per the agreement by the IMF, Somalia can be eligible for debt relief under the Enhanced HIPC Initiat...

Togo
			: Fifth Review under the Extended Credit Facility Arrangement-Press Release; Staff Report and Statement by the Executive Director for Togo

Togo : Fifth Review under the Extended Credit Facility Arrangement-Press Release; Staff Report and Statement by the Executive Director for Togo »

Volume/Issue: 2019/333

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513530109.002

ISBN: 9781513530109

Keywords: External sector, Public debt, Economic growth, External debt, Domestic debt, ISCR, CR, public bank, overall fiscal deficit, primary balance

The economic recovery seems to be taking hold. Inflation stood at 0.6 percent at end-July 2019. The fiscal consolidation was sustained through the first half of 2019; the overall fiscal deficit is estimated at 0.2...

Cote d'Ivoire
			: Sixth Reviews Under the Arrangement Under the Extended Credit Facility and the Extended Arrangement Under the Extended Fund Facility, and Request for Extension and Augmentation of Access; Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for the Cote d'Ivoire

Cote d'Ivoire : Sixth Reviews Under the Arrangement Under the Extended Credit Facility and the Extended Arrangement Under the Extended Fund Facility, and Request for Extension and Augmentation of Access; Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for the Cote d'Ivoire »

Volume/Issue: 2019/366

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513530024.002

ISBN: 9781513530024

Keywords: External sector, Economic indicators, Economic policy, Public debt, Revenue mobilization, ISCR, CR, percent of GDP, overall balance, ECF

Political uncertainty has risen ahead of the 2020 presidential elections, after the ruling coalition between President Ouattara's and former President Bédié's parties ended in the summer of 2018. The authorities ha...

Kingdom of Eswatini
			: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Kingdom of Eswatini

Kingdom of Eswatini : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Kingdom of Eswatini »

Volume/Issue: 2020/41

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 February 2020

DOI: http://dx.doi.org/10.5089/9781513529769.002

ISBN: 9781513529769

Keywords: Public financial management, External sector, Macroprudential policies and financial stability, Financial statistics, Fiscal policy, ISCR, CR, SACU, arrears, SACU revenue

This 2019 Article IV Consultation with the Kingdom of Eswatini highlights that the financial system remains sound, although vulnerabilities are rising. Hence, bank supervision should be intensified, the early inter...

Republic of Kazakhstan
			: Selected Issues

Republic of Kazakhstan : Selected Issues »

Volume/Issue: 2020/38

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 February 2020

DOI: http://dx.doi.org/10.5089/9781513529288.002

ISBN: 9781513529288

Keywords: Economic growth, Public finance, Fiscal sustainability, Capital, Oil prices, ISCR, CR, rules-based, extrabudgetary, labor tax

This Selected Issues paper conducts a review of taxes on labor in Kazakhstan, which, despite the current relatively low level of collections, have the potential to become an important source of non-oil fiscal reven...

Republic of Kazakhstan
			: Selected Issues

Republic of Kazakhstan : Selected Issues »

Volume/Issue: 2020/38

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 February 2020

Language: Russian

DOI: http://dx.doi.org/10.5089/9781513529332.002

ISBN: 9781513529332

Keywords: Economic growth, Public finance, Fiscal sustainability, Capital, Oil prices, ISCR, CR, rules-based, extrabudgetary, labor tax

Selected Issues...

The Future of Oil and Fiscal Sustainability in the GCC Region

The Future of Oil and Fiscal Sustainability in the GCC Region »

Volume/Issue: 2020/1

Series: Departmental Papers / Policy Papers

Author(s): Tokhir Mirzoev , Ling Zhu , Yang Yang , Tian Zhang , Erik Roos , Andrea Pescatori , and Akito Matsumoto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 February 2020

Language: Arabic

DOI: http://dx.doi.org/10.5089/9781513525938.087

ISBN: 9781513525938

Keywords: Fiscal policy, Oil exporting countries, Gulf Cooperation Council (GCC), Oil prices, Oil revenues, Supply and demand, Producer prices, Public financial management, Oil-exporting countries, DPPP

The Future of Oil and Fiscal Sustainability in the GCC Region...

The Future of Oil and Fiscal Sustainability in the GCC Region

The Future of Oil and Fiscal Sustainability in the GCC Region »

Volume/Issue: 2020/1

Series: Departmental Papers / Policy Papers

Author(s): Tokhir Mirzoev , Ling Zhu , Yang Yang , Tian Zhang , Erik Roos , Andrea Pescatori , and Akito Matsumoto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 February 2020

DOI: http://dx.doi.org/10.5089/9781513525907.087

ISBN: 9781513525907

Keywords: Fiscal policy, Oil exporting countries, Gulf Cooperation Council (GCC), Oil prices, Oil revenues, Supply and demand, Producer prices, Public financial management, Oil-exporting countries, DPPP

The oil market is undergoing fundamental change. New technologies are increasing the supply of oil from old and new sources, while rising concerns over the environment are seeing the world gradually moving away fro...

Gabon
			: 2019 Article IV Consultation, Fourth and Fifth Reviews under the Extended Arrangement under the Extended Fund Facility, and Request for Waiver of Nonobservance of Performance Criteria, and Rephasing of the Remaining Purchases; Press Release; Staff Report; and Statement by the Executive Director

Gabon : 2019 Article IV Consultation, Fourth and Fifth Reviews under the Extended Arrangement under the Extended Fund Facility, and Request for Waiver of Nonobservance of Performance Criteria, and Rephasing of the Remaining Purchases; Press Release; Staff Report; and Statement by the Executive Director »

Volume/Issue: 2019/389

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 January 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513528694.002

ISBN: 9781513528694

Keywords: Public financial management, Public debt, Economic reforms, Public investments, Social safety nets, ISCR, CR, extended arrangement, non-oil, BEAC

Prudent macroeconomic policies, supported by the Extended Arrangement, have contributed to Gabon's economic recovery. Growth is picking up, the fiscal and external positions have improved, public debt has started t...

How Big are Fiscal Multipliers in Latin America?

How Big are Fiscal Multipliers in Latin America? »

Volume/Issue: 2020/17

Series: IMF Working Papers

Author(s): Jorge Restrepo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 January 2020

DOI: http://dx.doi.org/10.5089/9781513526836.001

ISBN: 9781513526836

Keywords: Tax revenue, Fiscal policy, Tax bases, National income accounts, Tax collection, Macroeconomic Policy, Stabilization, Multipliers, WP, e t

This paper uses the strategy and data of Blanchard and Perotti (BP) to identify fiscal shocks and estimate fiscal multipliers for the United States. With these results, it computes the cumulative multiplier of Rame...

Riding the Storm: Fiscal Sustainability in the Caribbean

Riding the Storm: Fiscal Sustainability in the Caribbean »

Volume/Issue: 2020/21

Series: IMF Working Papers

Author(s): Serhan Cevik , and Vibha Nanda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 January 2020

DOI: http://dx.doi.org/10.5089/9781513526362.001

ISBN: 9781513526362

Keywords: Financial statistics, Fiscal policy, Economic growth, Deficit financing, Financial crises, Debt sustainability, fiscal reaction function, fiscal solvency, WP, debt-to-GDP ratio

Fiscal sustainability remains a paramount challenge for small economies with high debt and greater vulnerability to climate change. This paper applies the model-based sustainability test for fiscal policy in a pane...

Democratic Republic of the Congo
			: Staff-Monitored Program and Request for Disbursement Under the Rapid Credit Facility; Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of the Congo

Democratic Republic of the Congo : Staff-Monitored Program and Request for Disbursement Under the Rapid Credit Facility; Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of the Congo »

Volume/Issue: 2019/388

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513528618.002

ISBN: 9781513528618

Keywords: Central banks, External sector, Credit, Revenue mobilization, Development, ISCR, CR, DRC, Congolese authority, international reserve

While macroeconomic policies in recent years have succeeded in restoring elements of macroeconomic stability under difficult circumstances, macroeconomic conditions are nonetheless precarious. The recent fall in co...

Republic of Kazakhstan
			: 2019 Article IV Consultation-Press Release; and Staff Report

Republic of Kazakhstan : 2019 Article IV Consultation-Press Release; and Staff Report »

Volume/Issue: 2020/32

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 January 2020

DOI: http://dx.doi.org/10.5089/9781513528465.002

ISBN: 9781513528465

Keywords: Balance of payments, Economic indicators, Central banks, Macroprudential policies and financial stability, Monetary policy, ISCR, CR, NBK, non-oil, percent of GDP

This 2019 Article IV Consultation with Republic of Kazakhstan discusses that the political transition has increased the focus on social conditions and regional and rural development. Discussions focused on enhancin...

Republic of Nauru
			: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Nauru

Republic of Nauru : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Nauru »

Volume/Issue: 2020/31

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 January 2020

DOI: http://dx.doi.org/10.5089/9781513528434.002

ISBN: 9781513528434

Keywords: Public financial management, Balance of payments, Real sector, Revenue administration, Development, ISCR, CR, Australian dollar, RPC, percent of GDP

This 2019 Article IV Consultation with Republic of Nauru highlights that it remains vulnerable to climate change and has a narrow economic base and limited capacity. Development challenges are increased by unavaila...

The Federal Democratic Republic of Ethiopia
			: 2019 Article IV Consultation and Requests for Three-Year Arrangement under the Extended Credit Facility and an Arrangement under the Extended Fund Facility-Press Release and Staff Report

The Federal Democratic Republic of Ethiopia : 2019 Article IV Consultation and Requests for Three-Year Arrangement under the Extended Credit Facility and an Arrangement under the Extended Fund Facility-Press Release and Staff Report »

Volume/Issue: 2020/29

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 January 2020

DOI: http://dx.doi.org/10.5089/9781513528137.002

ISBN: 9781513528137

Keywords: External sector, Balance of payments, Economic policy, Monetary statistics, Financial statistics, ISCR, CR, SOEs, NBE, percent of GDP

This paper presents 2019 Article IV Consultation with the Republic of Ethiopia and its Requests for Three-Year Arrangement Under the Extended Credit Facility and an Arrangement Under the Extended Fund Facility. Eth...

Benin
			: Technical Assistance Report-Public Investment Management Assessment

Benin : Technical Assistance Report-Public Investment Management Assessment »

Volume/Issue: 2020/28

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 January 2020

DOI: http://dx.doi.org/10.5089/9781513528090.002

ISBN: 9781513528090

Keywords: Public financial management, Public investments, Fiscal policy, Economic policy, Financial management information systems, ISCR, CR, PPPs, ex-post, public investment

The Public Investment Management Assessment (PIMA) of Benin has brought to light an institutional framework of high quality but ineffective implementation. In accordance with the PIMA methodology applied in several...

Republic of Congo
			: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Congo

Republic of Congo : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Congo »

Volume/Issue: 2020/26

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 January 2020

DOI: http://dx.doi.org/10.5089/9781513527970.002

ISBN: 9781513527970

Keywords: External sector, Debt sustainability, Public debt, External debt, Economic indicators, ISCR, CR, arrears, Congolese authority, non-oil

This 2019 Article IV Consultation with Congo discusses that the economic situation remains difficult, however, there are some initial signs of stability, and non-oil growth could turn positive for the first time si...

Republic of Congo
			: Selected Issues

Republic of Congo : Selected Issues »

Volume/Issue: 2020/27

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 January 2020

DOI: http://dx.doi.org/10.5089/9781513528052.002

ISBN: 9781513528052

Keywords: Oil sector, Fiscal policy, Oil revenues, Tax policy, Tax revenue, ISCR, CR, Congolese authority, non-oil, arrears

This Selected Issues paper discusses reforms that could generate higher revenues from the non-oil sector through measures to rationalize the tax code, broaden the tax base, and increase administrative efficiency. T...

Rwanda
			: First Review Under the Policy Coordination Instrument and Monetary Policy Consultation-Press Release; and Staff Report

Rwanda : First Review Under the Policy Coordination Instrument and Monetary Policy Consultation-Press Release; and Staff Report »

Volume/Issue: 2020/9

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 January 2020

DOI: http://dx.doi.org/10.5089/9781513526706.002

ISBN: 9781513526706

Keywords: External sector, Economic indicators, Fiscal sector, Credit, Capital, ISCR, CR, Proj, Prog, PKO

This paper discusses Rwanda's First Review Under the Policy Coordination Instrument (PCI) and Monetary Policy Consultation. Rwanda's macroeconomic performance under the program remains strong. The PCI-supported pro...

Senegal
			: Request for a Three-Year Policy Coordination Instrument-Press Release; Staff Report; and Statement by the Executive Director for Senegal

Senegal : Request for a Three-Year Policy Coordination Instrument-Press Release; Staff Report; and Statement by the Executive Director for Senegal »

Volume/Issue: 2020/11

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 January 2020

DOI: http://dx.doi.org/10.5089/9781513526775.002

ISBN: 9781513526775

Keywords: External sector, Fiscal policy, Economic growth, Public debt, Development, ISCR, CR, percent of GDP, Eurobond, WAEMU

This paper discusses Senegal's Request for a Three-Year Policy Coordination Instrument (PCI). The PCI for Senegal is expected to build on the lessons from the previous programs supported by the IMF. It aims to supp...

Mali
			: First Review Under the Extended Credit Facility Arrangement, Request for a Waiver of Nonobservance of a Performance Criterion and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Mali

Mali : First Review Under the Extended Credit Facility Arrangement, Request for a Waiver of Nonobservance of a Performance Criterion and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Mali »

Volume/Issue: 2020/8

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 January 2020

DOI: http://dx.doi.org/10.5089/9781513526461.002

ISBN: 9781513526461

Keywords: Public financial management, Economic growth, Real sector, External sector, Balance of payments, ISCR, CR, Prog, official transfer, overall balance

This paper discusses Mali's First Review Under the Extended Credit Facility Arrangement, Request for a Waiver of NonObservance of a Performance Criterion and Modification of Performance Criteria. Mali's economic gr...

Mali
			: First Review Under the Extended Credit Facility Arrangement, Request for a Waiver of Nonobservance of a Performance Criterion and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Mali

Mali : First Review Under the Extended Credit Facility Arrangement, Request for a Waiver of Nonobservance of a Performance Criterion and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Mali »

Volume/Issue: 2020/8

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 January 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513526508.002

ISBN: 9781513526508

Keywords: ISCR, CR, Prog, official transfer, overall balance, net lend, Three-Year

Security and social conditions in Mali have steadily deteriorated in recent years, especially in the central and northern regions. Implementation of the 2015 peace agreement is challenging, rendering the return of...

Djibouti
			: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Djibouti

Djibouti : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Djibouti »

Volume/Issue: 2019/314

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 January 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513513805.002

ISBN: 9781513513805

Keywords: External sector, Balance of payments, National accounts, Fiscal policy, Central banks, ISCR, CR, SOEs, percent of GDP, overall balance

The government has in recent years implemented large-scale investments to develop transport and logistics infrastructures. Combined with business climate reforms, this development strategy has fueled strong growth...

Kenya
			: Fiscal Transparency Evaluation Update

Kenya : Fiscal Transparency Evaluation Update »

Volume/Issue: 2020/2

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 January 2020

DOI: http://dx.doi.org/10.5089/9781513526089.002

ISBN: 9781513526089

Keywords: Financial soundness indicators, Financial management information systems, Economic policy, Fiscal policy, Fiscal indicators, ISCR, CR, consolidated financial statement, tax expenditure, PPPs

This Fiscal Transparency Evaluation (FTE) assesses the quality of fiscal reporting in Kenya against the principles set out in the Fiscal Transparency Code. Kenya has experienced a lot of structural and economic cha...

Niger
			: Fifth Review Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Niger

Niger : Fifth Review Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Niger »

Volume/Issue: 2020/7

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 January 2020

DOI: http://dx.doi.org/10.5089/9781513526270.002

ISBN: 9781513526270

Keywords: Development, External debt, Economic growth, Fiscal policy, Credit, ISCR, CR, PPPs, performance criterion, WAEMU

This paper discusses Niger's Fifth Review Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria. Niger faces daunting development challenges, aggravated by terrorist in...

Central African Republic
			: Request for a Three-Year Arrangement under the Extended Credit Facility-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for the Central African Republic

Central African Republic : Request for a Three-Year Arrangement under the Extended Credit Facility-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for the Central African Republic »

Volume/Issue: 2020/1

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 January 2020

DOI: http://dx.doi.org/10.5089/9781513526041.002

ISBN: 9781513526041

Keywords: Fiscal policy, Public financial management, Development, Financial and Monetary Sector, Revenue mobilization, ISCR, CR, C.A.R., percent of GDP, arrears

This paper discusses Central African Republic's (CAR) Request for a Three-Year Arrangement Under the Extended Credit Facility. Consistent with the IMF's Country Engagement Strategy, the IMF-supported program is exp...

Burkina Faso
			: Third Review under the Extended Credit Facility Arrangement-Press Release; and Staff Report

Burkina Faso : Third Review under the Extended Credit Facility Arrangement-Press Release; and Staff Report »

Volume: 19

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 December 2019

DOI: http://dx.doi.org/10.5089/9781513524610.002

ISBN: 9781513524610

Keywords: External sector, Public financial management, Economic growth, Expenditures, Inflation, ISCR, CR, percent of GDP, Proj, WAEMU

This paper discusses Burkina Faso's Third Review Under the Extended Credit Facility (ECF) Arrangement. Policies and reform implementation under the ECF-supported program have been satisfactory. All end-June 2019 qu...

Armenia
			: First Review under the Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Armenia

Armenia : First Review under the Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Armenia »

Volume/Issue: 2019/397

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 December 2019

DOI: http://dx.doi.org/10.5089/9781513524689.002

ISBN: 9781513524689

Keywords: External sector, Financial soundness indicators, Economic indicators, National income, Fiscal policy, ISCR, CR, percent change, CBA, percent

This paper highlights Republic of Armenia's First Review Under the Stand-By-Arrangement. Armenia's economic performance is strong with healthy growth, low inflation, a stable financial system, with increasing forei...

Chad
			: Fifth Review under the Extended Credit Facility Arrangement and Financing Assurances Review-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Chad

Chad : Fifth Review under the Extended Credit Facility Arrangement and Financing Assurances Review-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Chad »

Volume/Issue: 2019/399

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2019

DOI: http://dx.doi.org/10.5089/9781513524733.002

ISBN: 9781513524733

Keywords: External sector, Fiscal policy, Public financial management, Public debt, Economic growth, ISCR, CR, non-oil, arrears, ECF

This paper highlights Chad's Fifth Review Under the Extended Credit Facility (ECF) Arrangement and Financing Assurances Review. Chad's performance under the Fund's ECF-supported program has been broadly satisfactor...

Political Costs of Tax-Based Consolidations

Political Costs of Tax-Based Consolidations »

Volume/Issue: 2019/298

Series: IMF Working Papers

Author(s): Chuling Chen , Era Dabla-Norris , Jay Rappaport , and Aleksandra Zdzienicka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2019

DOI: http://dx.doi.org/10.5089/9781513521534.001

ISBN: 9781513521534

Keywords: Base rates, Budget deficits, Business cycles, Capital, Capital income, Capital stocks, Corporate income taxes, Debt, Debt reduction, Debt sustainability

This paper studies the impact of tax-based consolidations on reelection outcomes. Using a granular database of tax-based consolidations for a panel of 10 OECD countries over the last 40 years, we find that tax refo...

Benin
			: Fifth Review under the Extended Credit Facility Arrangement, Request for Extension, and Request for Modification of Performance Criteria-Press Release; and Staff Report

Benin : Fifth Review under the Extended Credit Facility Arrangement, Request for Extension, and Request for Modification of Performance Criteria-Press Release; and Staff Report »

Volume/Issue: 2019/398

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 December 2019

DOI: http://dx.doi.org/10.5089/9781513524696.002

ISBN: 9781513524696

Keywords: External sector, Debt management, Credit, External debt, Gross domestic product, ISCR, CR, rebasing, net lend, Eurobond

This paper discusses Benin's Fifth Review Under the Extended Credit Facility Arrangement, Request for Extension, and Request for Modification of Performance Criteria. Program implementation continues to be very sat...