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Business and Economics > Banks and Banking

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

  • Type: Journal Issue x
  • Hydrocarbon Resources x
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Cover IMF Working Papers
Natural Gas in Europe: The Potential Impact of Disruptions to Supply
Gabriel Di Bella
,
Mr. Mark J Flanagan
,
Karim Foda
,
Svitlana Maslova
,
Alex Pienkowski
,
Martin Stuermer
, and
Mr. Frederik G Toscani
This paper analyzes the implications of disruptions in Russian gas for Europe’s balances and economic output. Alternative sources could replace up to 70 percent of Russian gas, allowing Europe to avoid shortages during a temporary disruption of around 6 months. However, a longer full shut-off of Russian gas to the whole of Europe would likely interact with infrastructure bottlenecks to produce very high prices and significant shortages in some countries, with parts of Central and Eastern Europe most vulnerable. With natural gas an important input in production, the capacity of the economy would shrink. Our findings suggest that in the short term, the most vulnerable countries in Central and Eastern Europe — Hungary, Slovak Republic and Czechia — face a risk of shortages of as much as 40 percent of gas consumption and of gross domestic product shrinking by up to 6 percent. The effects on Austria, Germany and Italy would also be significant, but would depend on the exact nature of remaining bottlenecks at the time of the shutoff and consequently the ability of the market to adjust. Many other countries are unlikely to face such constraints and the impact on GDP would be moderate—possibly under 1 percent. Immediate policy priorities center on actions to mitigate impacts, including to eliminate constraints to a more integrated gas market via easing infrastructure bottlenecks, to accelerate efforts in defining and agreeing solidarity contributions, and to promote stronger pricing pass through and other measures to generate greater energy savings. National responses and RePowerEU contains many important measures to help address these challenges, but immediate coordinated action is called for, with specific opportunities in each of these areas.
Keywords:
Energy supply; natural gas; production output; EU gas import capacity; infrastructure bottleneck; supply shut-off; LNG market; output effect; Natural gas sector; Imports; Consumption; Supply shocks; Operational risk; Europe; Global; Central and Eastern Europe; energy shut-off; natural gas in Europe
Cover IMF Staff Country Reports
Republic of Mozambique: Selected Issues
International Monetary Fund. African Dept.
Selected Issues
Keywords:
ISCR; CR; revenue; liquified natural gas
Cover IMF Staff Country Reports
Republic of Mozambique: Selected Issues
International Monetary Fund. African Dept.
Selected Issues
Keywords:
ISCR; CR; revenue; liquified natural gas; regime shift; LNG export; NRIR estimate; equilibrium real interest rate; LNG trade; Natural gas sector; Public investment spending; Real interest rates; Central bank policy rate; Inflation; Global; LNG production; Liquified Natural Gas 101; NATRUAL gas resource; price scenario; investment efficiency
Cover IMF Staff Country Reports
Algeria: Statistical Appendix
International Monetary Fund. Middle East and Central Asia Dept.
In this paper, the statistical appendix lists details regarding the supply and use of resources at current prices, sectoral breakdown of GDP at current prices, sectoral breakdown of real GDP growth, production export and consumption of oil products, production export and consumption of gas products, domestic prices of main energy products, surface area of main crops, crop yields, livestock, industrial production index, ore production, consumer price index, household income, labor force, employment and unemployment, summary of central government operations, sector, etc.
Keywords:
ISCR; CR; Algeria; LNG export; net credit; banking corporation; Cetelem Algérie; consumer goods; gas production byproduct; petroleum product; Maghreb leasing Algérie; net production; short-term debt; profit repatriation; Housing; Natural gas sector; Exports; Oil; Credit; Maghreb
Cover IMF Staff Country Reports
Trinidad and Tobago: 2010 Article IV Consultation-Staff Report, Supplement, Staff Statement, Public Information Notice on the Executive Board Discussion, and Statement by the Executive Director for Trinidad and Tobago
International Monetary Fund
The economic slowdown as a result of the global crisis has been severe, and the recovery has not yet taken hold. Despite ample buffers, including large fiscal space and strong international reserves, the policy response to the crisis has been constrained. Inflation has resurfaced as a concern after falling to a historical low in 2009, but the data are misleading. The monetary policy stance has been generally supportive but ineffective in the context of large excess liquidity. Medium-term growth prospects depend on the energy sector outlook.
Keywords:
ISCR; CR; debt; policy rate announcement; inflation data; outturn; interest saving; data from October; fiscal year data; Commercial banks; Natural gas sector; Public sector; Inflation; Global; Caribbean
Cover IMF Staff Country Reports
Bolivia: Staff Report for the 2006 Article IV Consultation
International Monetary Fund
Despite good economic reforms, macroeconomic stability, and a major expansion of the hydrocarbon sector, Bolivia still achieved only modest gains in poverty reduction. Executive Directors stressed the importance of fiscal prudence, domestic taxation, and strengthening of public expenditure management to ensure fiscal sustainability. They commended the central bank for its monetary policy stance. They highlight the need to attain greater equity, transparency, and accountability underpinned by cautious macroeconomic policies. They underscored that Bolivia may face a competitive external environment for its nontraditional exports in the period ahead.
Keywords:
ISCR; CR; state; Bolivian authorities; authority; state oil company; managed float regime; governments of Bolivia; authorities' objective; Policy approach; Natural gas sector; International reserves; Public sector; Credit; Global
Cover IMF Staff Country Reports
Trinidad and Tobago: Selected Issues
International Monetary Fund
This Selected Issues paper analyzes the energy sector and labor market developments in Trinidad and Tobago. It discusses monetary and exchange rate policy and describes the institutional setting and economic structure within which monetary and exchange rate policy is conducted. The framework under which monetary policy is formulated and implemented is outlined. The paper also reviews the evolution of monetary and exchange rate policies, and presents some comments on the effectiveness of monetary and exchange rate policy.
Keywords:
ISCR; CR; government; rate; employment generation; procurement regime; crude oil; State agency; government transfer; sugar company; repo rate; Energy sector; Natural gas sector; Oil; Currency markets; Employment; Caribbean; Global
Cover IMF Staff Country Reports
Republic of Kazakhstan: Statistical Appendix
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; bottom; oil revenue; national bank of Kazakhstan; extraction industry; net lending; time deposit; production value; Agricultural commodities; Oil; gas and mining taxes; Natural gas sector; Baltics
Cover IMF Staff Country Reports
United Arab Emirates: Statistical Appendix
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; U.A.E. dirham; gross domestic product; U.S. dollar; U.A.E. University; U.A.E. authorities; oil export price; Oil; Exports; Commercial banks; Imports; Natural gas sector; Middle East
Cover Finance & Development
Finance & Development, June 1986
International Monetary Fund. External Relations Dept.
The global trade negotiations and use of fiscal measures to stimulate savings in developing countries are discussed. The four main elements of the global trading system likely to be at issue in the new round include nondiscrimination and the distinction between border and nonborder measures. Capital markets in developing countries are small, and the scope for diversification of financial institutions and financial instruments or assets is limited. The distinction between border and nonborder measures is blurred in the increased international concern with so-called unfair trade practices.
Keywords:
FD; F&D; market; interest rate; value; country; price; budget deficit-interest rate connection; textbook free trade; trade theory; value of the currency; currency price; Real interest rates; Natural gas sector; Oil; General Agreement on Tariffs and Trade; Oil prices; Global; Sub-Saharan Africa; West Africa; Africa; Eastern Europe; Asia and Pacific