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Business and Economics > Budgeting

You are looking at 1 - 7 of 7 items for :

  • Type: Journal Issue x
  • Trinidad and Tobago x
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Cover IMF Staff Country Reports
Trinidad and Tobago: Selected Issues
International Monetary Fund. Western Hemisphere Dept.
This Selected Issues paper focuses on the impact of adjusting to commodity shocks in Trinidad and Tobago. With commodity resources being nonrenewable, developing a long-term strategy can help avoid unsustainable policies and ensure greater intergenerational equity. Recent country experiences highlight the benefits of precautionary buffers in smoothing fiscal adjustment process. Prudent and countercyclical fiscal policy implementation, structural reforms, and economic diversification can help contain the impact of commodity price booms and busts. Strong fiscal institutions are needed to help achieve and sustain the fiscal adjustment. Different adjustment strategies may be feasible depending on the needed size of the adjustment and country-specific circumstances. Trinidad and Tobago have faced several years of weak or negative growth on the back of terms-of-trade and energy supply shocks. A well-designed fiscal framework that considers potential uncertainties associated with commodity cycles can help improve fiscal management. Countercyclical policy implementation would help smooth the impact of commodity-induced sharp fluctuations in the economy.
Keywords:
ISCR; CR; fund; crime-control program; commodity; crime reduction; property crime; crime management system; crime in Trinidad and Tobago; Commodity prices; Fiscal consolidation; Caribbean; Global
Cover IMF Staff Country Reports
St. Lucia: Climate Change Policy Assessment
International Monetary Fund. Western Hemisphere Dept.
This paper takes stock of St. Lucia’s plans to manage climate change, from the perspective of their macroeconomic implications, and suggests macro-relevant reforms that could strengthen the likelihood of success of the national strategy. To meet its renewable energy plans, St. Lucia will need to mobilize private investment. External assistance will be needed to develop supporting infrastructure. Building capacity for project assessment and investment promotion is a high priority, to shape needed investments into bankable projects. Elsewhere, capacity-building would be most useful to help cost sectoral plans, complete the disaster-preparedness strategy, move toward carbon taxation, and strengthen skills in public investment management and public financial management.
Keywords:
ISCR; CR; balance of payments; price cap; capital stock; credit line; interest rate; private sector; risk management strategy; tax system; carbon tax; government program; capital budget; investment priority; government financing; climate change; Climate change; Natural disasters; Carbon tax; Budget planning and preparation; Climate policy; Caribbean; Global
Cover IMF Staff Country Reports
Trinidad and Tobago: Selected Issues
International Monetary Fund
This Selected Issues Paper focuses on the Heritage and Stabilization Fund (HSF) and development in the energy sector in Trinidad and Tobago. The HSF, established in 2007, is an important national asset, which has broad-based political and social support. The HSF has developed a strong record since its creation. It has performed well as measured by the accumulation of savings, the portfolio return, and adherence to the Santiago Principles for transparency and governance. This is particularly commendable given global and domestic financial crises.
Keywords:
ISCR; CR; price; HSF Board; natural gas; LNG; revenue; HSF governance structure; HSF portfolio; HSF saving; HSF assets; HSF balance; LNG export; natural gas production; market development; gas reserve; processing train; energy revenue; Energy pricing; Natural gas sector; Oil; Oil prices; Energy sector; Global; Europe; Asia and Pacific; HSF portfolio size; crude oil; HSF portfolio performance; natural gas price indices; Energy prices; Oil production; Caribbean
Cover Policy Papers
Technical Assistance Evaluation Program - Findings of Evaluations and Updated Program - Second Mid-Term Review of the Caribbean Regional Technical Assistance Centre
International Monetary Fund
CARTAC, the second of the regional technical assistance centers, was created with singular emphasis on ownership of technical assistance by the beneficiary countries. To this end, it was structured as a UNDP project with the IMF as Executing Agency and with a Steering Committee empowered to give strategic guidance to the program and select its senior staff from short lists provided by the IMF. With the spread of the RTAC modality, the IMF has sought to bring the Centers' activities within the ambit of overall resource planning for technical assistance, ensure consistency with the institution's view on priorities for technical assistance in the countries concerned, and tighten quality control through backstopping. This has created the potential for conflict with the relative independence that CARTAC has enjoyed from its inception. The conclusion in this report, however, is that alignment with the IMF does not necessarily undermine country ownership and that the Steering Committee can play a pivotal role in defusing any tension that may arise.
Keywords:
PP; steering committee; CARTAC program; CARTAC activity; work plan; CARTAC advisers activity analysis; governance practice; cash management; on-the-job training; reform program; budget management CARTAC; Value-added tax; Budget planning and preparation; Caribbean; Middle East; East Africa
Cover Policy Papers
Technical Assistance Evaluation Program - Findings of Evaluations and Updated Program - Mid-Term Evaluation of Middle East Regional Technical Assistance Center
International Monetary Fund
CARTAC, the second of the regional technical assistance centers, was created with singular emphasis on ownership of technical assistance by the beneficiary countries. To this end, it was structured as a UNDP project with the IMF as Executing Agency and with a Steering Committee empowered to give strategic guidance to the program and select its senior staff from short lists provided by the IMF. With the spread of the RTAC modality, the IMF has sought to bring the Centers' activities within the ambit of overall resource planning for technical assistance, ensure consistency with the institution's view on priorities for technical assistance in the countries concerned, and tighten quality control through backstopping. This has created the potential for conflict with the relative independence that CARTAC has enjoyed from its inception. The conclusion in this report, however, is that alignment with the IMF does not necessarily undermine country ownership and that the Steering Committee can play a pivotal role in defusing any tension that may arise.
Keywords:
PP; steering committee; CARTAC program; work plan; CARTAC activity; governance practice; reform program; budget management CARTAC; CARTAC intervention; on-the-job training; CARTAC's work; CARTAC consultant; CARTAC PC; Value-added tax; Budget planning and preparation; Caribbean; Middle East; East Africa
Cover IMF Staff Country Reports
Trinidad and Tobago: 2004 Article IV Consultation—Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Trinidad and Tobago
International Monetary Fund
This 2004 Article IV Consultation highlights that Trinidad and Tobago’s economy, which is endowed with large energy reserves, is experiencing a strong energy sector-based expansion owing to increased output and high international prices. The energy sector already accounts for about 40 percent of GDP, 83 percent of domestic goods exports, and slightly more than 40 percent of government revenue. The balance of payments recorded an increased surplus in 2003, despite large capital outflows, reflecting the strong performance of the energy sector.
Keywords:
ISCR; CR; surplus; budget proposal; oil price assumption; budget surplus; Trinidad and Tobago economy; Adj. budget; Public sector; International reserves; Capital spending; Global; Caribbean
Cover Policy Papers
Midterm Review of the Caribbean Regional Technical Assistance Centre (CARTAC)
International Monetary Fund
The mid-term review was undertaken to help funding and implementing agencies foster a greater level of understanding of the Caribbean Regional Technical Assistance Center's (CARTAC) work. It ascertains activities to date and should help the Steering Committee determine optimal strategies for the Center’s continuation.
Keywords:
PP; long-term advisor; training session; core area; Cartac's activity; line item; CARTAC office; CARTAC project; CARTAC intervention; participating country; CARTAC activity; Administration in revenue administration; Budget planning and preparation; Caribbean