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International Monetary Fund. Middle East and Central Asia Dept.

instrumental in achieving macroeconomic stabilization, with external and fiscal deficits narrowing, inflation and unemployment declining, and growth accelerating. The near-term growth outlook is favorable, supported by a recovery in tourism and rising natural gas production, while the current account deficit is expected to remain below 3 percent of GDP and the public debt ratio to decline markedly by 2023. Monetary tightening in 2017 helped anchor inflation expectations after the devaluation and fuel price hikes in 2016. The Central Bank of Egypt should maintain its

International Monetary Fund. External Relations Dept.

price hikes and is discussing additional support with another 11 countries, Strauss-Kahn told delegates. He said that Burkina Faso, the Kyrgyz Republic, Mali, and Niger received the extra aid. The IMF said on May 29 it was giving an extra $21 million to the landlocked West African nation of Mali to help with the crisis and boosting assistance to the Kyrgyz Republic, a mountainous Central Asian country, by $14.4 million. Crisis can be managed Strauss-Kahn, a former French finance minister, said in remarks read into the record that the crisis could be managed if

Mr. Kangni R Kpodar, Ms. Stefania Fabrizio, Kodjovi M. Eklou, and Mr. Ali M. Mansoor

international oil prices in the second half of 2008. 14 Turning to the correlation between fuel price changes and export growth, we observe in Figure 2 a negative slope, suggesting that fuel price hikes may be a source of a competitiveness loss. In Figure 3 , the sample is split in two sub-samples dependency on the country’s energy dependency. As discussed in the literature section, the exposure of a country’s competitiveness to fuel price shocks may hinge on the degree of energy dependency of the economy. Measuring energy dependency by the energy use (kilogram of oil

International Monetary Fund. Middle East and Central Asia Dept.
This paper discusses Egypt’s First Review Under the Extended Arrangement Under the Extended Fund Facility (EFF) and Requests for Waivers for Nonobservance and Applicability of Performance Criteria (PCs). All quantitative PCs for December 2016 were met, but a large depreciation of the pound is posing policy challenges. Because of higher costs of fuel products, the end-June targets for the fuel subsidy bill and the primary deficit are likely to have been missed. The authorities are taking corrective measures by implementing a stronger fiscal adjustment in the next two years, including through the fuel subsidy reform. The IMF staff supports the authorities’ request for the completion of the first review under the Extended Arrangement under the EFF arrangement.
International Monetary Fund
This Joint Staff Advisory Note describes the progress made on the Poverty Reduction Strategy Paper (PRSP) in Sierra Leone on the basis of the June 2008 progress report. The report analyzes key elements of the Poverty Reduction Strategy (PRS), including: macroeconomic performance; good governance, peace, and security; pro-poor sustainable growth for food security and job creation; human resource development; and monitoring and evaluation of the PRS. The progress report correctly indicates that implementation of poverty reduction programs suffered setbacks owing to weak revenue performance and delays in external budget support since late 2006.