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Business and Economics > Budgeting

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Cover Policy Papers
Implementation Plan in Response to the Board-Endorsed Recommendations from the IEO Evaluation Report on IMF Engagement with Small Developing States
International Monetary Fund
This paper presents a Management Implementation Plan (MIP) with actions to take forward the Board-endorsed recommendations from the Independent Evaluation Office (IEO)’s report on IMF Engagement with Small Developing States (SDS). The actions in the MIP are broad in scope, touching on all modalities of the Fund’s engagement with SDS, and seek to be comprehensive, self-reinforcing, cost-effective, and designed to be adopted as a package. The MIP aims to support a targeted and effective recalibration of engagement with SDS; enhance IMF’s surveillance and capacity development in SDS members; strengthen the Fund’s lending engagement with SDS, in line with the applicable policy frameworks; and secure an effective, well-tailored and more continuous staff presence in SDS.
Keywords:
Capacity development; climate; lending; policy frameworks; training; small developing states; staffing; surveillance; SDS staff guidance note; SDS member; SDS-SGN update; presence in SDS; IMF's transparency policy; Climate change; Budget planning and preparation; Financial sector; Caribbean; Global; Central America
Cover IMF Working Papers
Managing Revenue Volatility in a Small Island Economy: The Case of Kiribati
Miss Catriona Purfield
The formulation of fiscal policy in Kiribati faces unusual challenges. Kiribati's revenue base is among the most volatile in the world, and it possesses sizeable financial assets. Drawing on lessons from some other countries who experience high volatility in their revenues, this paper proposes a fiscal policy rule for Kiribati which is nested within a medium-term macroeconomic framework that aims to ensure the sustainable use of Kiribati's financial assets while managing the impact of extreme revenue volatility. It also discusses improvements in the institutional fiscal policy framework that could support such a framework.
Keywords:
WP; RERF assets; RERF drawdown; annual budget; budget law; fishing license fee; nominal rate; RERF sustainability
Cover IMF Staff Country Reports
Kiribati: Recent Economic Developments
International Monetary Fund
Kiribati is a country in the central Pacific Ocean and one of the least-developed Pacific island economies. A large share of imports and government spending is financed from external grants and fishing license fees. The key policy development has been the adoption of a medium-term strategy, which focuses on reducing the role of the public sector to promote the development of the private sector. The improvement in the current and capital account balances has led to an increase in the overall balance.
Keywords:
ISCR; CR; Kiribati; Kiribati authorities; enterprise; balance
Cover IMF Staff Country Reports
Kiribati: 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; Kiribati; Kiribati authorities; value; earnings; Kiribati housing corporation; Kiribati oil company; seamen transfer; unit value; Income; Budget planning and preparation; Public enterprises; Exports; Reserve assets
Cover IMF Staff Country Reports
Kiribati: Recent Economic Developments
International Monetary Fund
This report describes recent economic developments in Kiribati. Developments over the decade through 1992 were characterized by a fall in real per capita income, as economic development was constrained by a shortage of skilled manpower, weak infrastructure, and remoteness from major international markets. However, inflation was held broadly in line with price increases in major trading partners. The overall external balance was in large surplus, as substantial trade deficits in part reflecting small export earnings were more than offset by service account surpluses and external grant receipts.
Keywords:
ISCR; CR; Kiribati; price; company; Kiribati authorities; export; rate; RERF interest; production base; support price; telecom Kiribati; government corporation; price stabilization scheme; interest stabilization reserve; shipping corporation; equity price; Agroindustries; Exports; Budget planning and preparation; Income; Foreign direct investment; Europe; Global