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Business and Economics > Budgeting

You are looking at 1 - 8 of 8 items for :

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Cover IMF Staff Country Reports
Republic of the Marshall Islands: 2008 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion
International Monetary Fund
The Republic of the Marshall Islands (RMI), scattered across an area of nearly 1 million square miles in the Central Pacific, is heavily dependent on external grants. As in past consultations, the current discussions have focused on policies to put public finances on a secure footing and improve growth prospects. Recent economic performance has been lackluster. Exports have been held back mainly by structural problems. The fiscal position has improved in FY2006, but the overall balance has been slightly negative at about ½ percent of GDP.
Keywords:
ISCR; CR; PFTAC Advisor; authority; RMI country statistics generation; RMI government; RMI authorities; IMF staff estimate; economic statistics; Extra-budgetary funds; Structural reforms; Fiscal consolidation; Current account; Pacific Islands; Global
Cover IMF Staff Country Reports
Former Yugoslav Republic of Macedonia: Second Review Under the Stand-By Arrangement and Ex Post Assessment of Performance Under Fund-Supported Programs
International Monetary Fund
The staff report for the Second Review Under the Stand-By Arrangement on the Former Yugoslav Republic (FYR) of Macedonia highlights economic developments and policies. FYR of Macedonia’s economic performance since independence has been marked by notable achievements in macroeconomic management, as well as some disappointments in the area of structural reforms. Inflation was brought down from hyperinflation levels to the low single digits by the de facto exchange rate peg, which was sustained in spite of sometimes challenging circumstances.
Keywords:
ISCR; CR; FYR Macedonia authorities; policy; projection result; government; GDP estimate; Executive Board discussion; FYRM authorities; Structural reforms; Privatization; Commercial banks; Arrears; Europe; Central and Eastern Europe; Eastern Europe
Cover IMF Working Papers
IMF and the Baltics: A Decade of Cooperation
Mr. Adalbert Knöbl
and
Mr. Richard D Haas
The paper is an economic history of the IMF’s involvement in the Baltic states. It describes and analyzes the initial economic stabilization; the period of consolidation and recovery; the effects of the Russian crisis of 1998; and the current growth phases of Lithuania, Latvia, and Estonia. There is also an assessment of cooperation with the Fund based on interviews with a number of ex-officials. The major conclusion is that the Baltics have been so successful because of their early commitment to change the stabilization and reform policies needed for successful transition, and their ownership of their IMF-supported programs.
Keywords:
WP; Fund staff; country authorities; Baltic country; monetary policy; policy advice; currency reform; currency board; transition to market economy; Lithuanian authorities; authorities of the logic; Estonian authority; Latvian authorities; government intervention; Budget planning and preparation; Currency boards; Structural reforms; Currencies; Baltics
Cover IMF Working Papers
Reconciling Stability and Growth: Smart Pacts and Structural Reforms
Mr. Roel M. W. J. Beetsma
and
Mr. Xavier Debrun
This paper analyzes the decision of a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact. The model shows that a pact may harm structural reforms, sacrificing future growth for present stability. The welfare gains brought about by a pact depend on a trade-off between the reduction in the deficit bias and the induced reduction in the amount of structural reform. A pact becomes more attractive (“smarter”) if it takes into account the fiscal impact of structural reforms, in line with a recent proposal by the European Commission.
Keywords:
WP; public goods; Structural reforms; Stability and Growth Pact; Monetary Union; Sanctions; partisan government; budget constraint; deficit bias; incumbent government; Budget planning and preparation; Employment protection; Structural policies; Europe
Cover IMF Staff Country Reports
Bulgaria: Staff Report for the 1999 Article IV Consultation and Third Review Under the Extended Arrangement
International Monetary Fund
In 1999, Executive Board deliberations on Bulgaria focused on the need for the authorities to persevere with structural reform. Under the currency board arrangement introduced in mid-1997, Bulgaria has achieved macroeconomic stabilization and made substantial progress in structural reform. Banking supervision has improved markedly. Executive Directors stressed the importance of wage moderation and flexible labor markets for maintaining competitiveness and reducing unemployment. The emerging private sector also faces many obstacles, including burdensome bureaucracy and red tape, weak governance, and a banking system hesitant to extend credit.
Keywords:
ISCR; CR; government; Policy implementation; policy; enterprise; Bulgarian authorities; government decision; government's commitment; authorities aim; district heating sector; Current account deficits; Structural reforms; Budget planning and preparation; Europe; Western Europe; Global
Cover IMF Policy Discussion Papers
External Borrowing in the Baltics, Russia, and Other States of the Former Soviet Union: The Transition to a Market Economy
Mr. John C. Odling-Smee
and
Mr. Basil B. Zavoiceo
The external debt of many countries of the Baltics, Russia, and the former Soviet Union has been growing rapidly in recent years and has played an important part in the transition process. However, it is vital to strike a balance between financing transition and ensuring that the external debt is not used to finance wasteful expenditures or delay the transition process. This is especially important since the rising stock of external debt makes the borrowing countries increasingly vulnerable to changes in perceived creditworthiness. Accordingly, countries must adopt policies, including pressing ahead with structural reforms, to ensure that the borrowing is used to promote sound growth.
Keywords:
PDP; BRO country; country; BRO; government; debt; Russia; Baltics; CIS; external financing; external debt; export ratio; country rating; BRO government; BRO region; a number of country; Structural reforms; Budget planning and preparation; Government debt management
Cover The ESAF at Ten Years
The ESAF at Ten Years
Economic Adjustment and Reform in Low-Income Countries
International Monetary Fund

Abstract

For over 10 years, the IMF has supported adjustment and reform programs in many of its low-income members through two facilities established specifically for that purpose - the Enhanced Structural Adjustment Facility (ESAF) and its precursor the Structural Adjustment Facility (SAF). By the end of 1994, 36 countries had availed themselves of these facilities, in support of 68 multi-year programs. This study summarizes the findings of a review of the experience under these programs and of economic developments in the countries that undertook them.

Keywords:
OP; country; ESAF country; ESAF-supported program; ESAF; ESAF arrangement; ESAF support; ESAF user; Inflation; Public enterprises; Exports; Structural reforms; Africa; Western Hemisphere; Asia and Pacific; Baltics; West Africa
Cover Summary Proceedings of the Fifty-First Annual Meetings of the Board of Governors, 1996
Summary Proceedings of the Fifty-First Annual Meetings of the Board of Governors, 1996
International Monetary Fund. Secretary's Department

Abstract

This annual publication is a record of the IMF's Annual Meeting and contains the opening and closing addresses of the Chairman of the Board of Governors, presentation of the Annual Report by the Managing Director, statements of Governors, committee reports, resolutions, and a list of delegates. Usually published in March.

Keywords:
economic system; structural adjustment; central bank; economic growth; global economy; British government; monetary policy; Inflation; Budget planning and preparation; Government debt management; Global; Africa; Europe; Asia and Pacific; Sub-Saharan Africa; G.M. Compton KCMG; J. mills jones; fund documents no; IMF election; board of governors of the fund; Structural reforms; Caribbean; Central America