International Monetary Fund. Finance Dept., International Monetary Fund. Legal Dept., and International Monetary Fund. Secretary's Department
This paper proposes a further six-month extension of the period for members to consent to an increase in their quotas under the Fourteenth General Review of Quotas ("Fourteenth Review") through June 28, 2019.
The following table lists the IMF member countries for which the Article IV consultation or the mandatory financial stability assessment has been delayed by more than 18 months. The delay is counted past the scheduled expected date for conclusion, plus any applicable grace period.
This Staff Report Lists IMF Member Countries with Delays in Completion of Article IV Consultations over 18 Months or Mandatory Financial Stability Assessment over 18 Months, prepared by IMF staff and completed on January 28, 2015.
In line with a framework introduced in 2012 for addressing excessive delays in the completion of Article IV consultations, the following table lists the IMF members for which the Article IV consultation has been delayed by more than 18 months at March 15, 2016. The delay is counted past the stipulated date for the consultation plus any applicable grace period. There are no countries for which the mandatory financial stability assessments are delayed by more than 18 months at March 15, 2016.
This paper describes economic developments and reforms in Eritrea during the 1990s. The paper highlights that the government’s main economic objectives were to promote high and sustainable economic growth and thereby increase per capita income, create employment opportunities, and attain a sustainable external position over the medium term. The paper discusses the developments in domestic production, prices, and the structural reforms undertaken in Eritrea. Developments in public sector finances are covered, and monetary developments and financial sector reform efforts are also summarized.
This Selected Issues paper describes economic developments in Eritrea during the 1990s. The paper highlights that since the early 1990s, the Eritrean economy has recovered considerably, thanks to the rebuilding of the infrastructure and the improved availability of essential imports following major trade reforms in 1994. During 1993–96, real GDP growth averaged about 4 percent annually, ahead of the estimated population growth rate of about 3 percent. However, annual growth was erratic over the period mainly because of the drought conditions in 1993 and 1995, whereas the weather was exceptionally favorable in 1994.
The paper presents statistical data on gross domestic product by sector, agricultural production, regional structure of the agricultural sector, food grain position, annual catch and sales of fish, and gross value of public enterprise production of Eritrea. It also includes data on Assab refinery production, purchases and sales by Eritrea, ex-refinery and retail prices of petroleum products, summary of developments in the labor market, structure of private sector wages, summary of government operations, distribution of net foreign assets, balance of payments, and other related economic indices.
This Selected Issues paper examines the impact of relief and reconstruction expenditures in Eritrea on the fiscal profile. The paper discusses the principle categories of extraordinary expenditures, which the authorities have undertaken during 1993–96 for relief and reconstruction purposes. It analyzes developments and reforms in the financial system. The paper highlights that Eritrea’s financial system has undergone considerable reform through the mid-1990s, but remains rudimentary and concentrated, and is still largely owned and controlled by the state.
This paper describes economic developments in Eritrea during 1990–95. In 1993, despite strong growth in the industry and distribution sectors, real GDP growth was adversely affected by a substantial decline in agricultural output, owing to poor rain distribution, pest problems, and drought in some regions. The growth in industry reflected increased availability of raw materials and spare parts, and construction activity related to the rebuilding of war-damaged roads, buildings, and housing. The distribution sector benefited from the growth in the industrial sector as well as a substantial increase in imports.