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Business and Economics > Finance: General

You are looking at 1 - 10 of 34 items for :

  • Type: Journal Issue x
  • São Tomé and Príncipe x
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Cover Policy Papers
Key Trends in Implementing The Fund’s Transparency Policy
International Monetary Fund. Strategy, Policy, & Review Department
At the time of the 2005 Review of the Fund’s Transparency Policy, the Executive Board requested regular updates on trends in implementing the transparency policy. This report provides an overview of recent developments, reflecting information on documents considered by the Board in 2021 and updating the previous annual report on Key Trends. Deeper analysis of these trends is undertaken in the context of periodic reviews of the Fund’s Transparency Policy.
Keywords:
transparency Policy; country policy intention document; deletion request; publication rate; country document; Emerging and frontier financial markets; Monetary unions; COVID-19; Anti-money laundering and combating the financing of terrorism (AML/CFT); Financial Sector Assessment Program; Middle East and Central Asia; Caribbean; Sub-Saharan Africa; Europe; Asia and Pacific
Cover Policy Papers
2021 Special Drawing Rights Allocation—Ex-Post Assessment Report
International Monetary Fund. Strategy, Policy, & Review Department
and
International Monetary Fund. Finance Dept.
This report follows up on the impact of the historic $650 billion 2021 SDR allocation on the global economy, documenting IMF members' use of the allocation and assessing its economic effects. The report finds that the allocation was beneficial for the global economy, helping meet the long-term global need for reserves and supporting market confidence. Members used the allocation mostly to increase international reserve buffers, with some emerging market and developing countries also using it to meet fiscal and external financing needs. While SDR interest costs have increased, members’ capacity to service SDR obligations remains generally adequate. Members’ use of the allocation was mostly in line with Fund advice, and the transparency and accountability of SDR holdings and use has been broadly appropriate, although some gaps remain. Voluntary SDR channeling from economically stronger to more vulnerable members has helped amplify the benefits of the allocation.
Keywords:
SDR channeling; service SDR obligation; SDR tracker; SDR converter; SDR department obligation; SDR interest rate; Freely usable currencies; International reserves; Credit default swap; Currencies; Global
Cover Policy Papers
Key Trends in Implementing the Fund's Transparency Policy
International Monetary Fund. Strategy, Policy, & Review Department
This report provides an overview of recent developments in the implementation of the Fund’s Transparency Policy, as required by the Executive Board. It covers documents considered by the Board in 2020 and their respective publication status up to June 2021. To provide some perspective on trends, it compares the implementation of the Fund’s Transparency Policy on the 2020 documents with preceding years.
Keywords:
transparency Policy; article IV; deletion request; reports press releases; country policy intention document; Emerging and frontier financial markets; COVID-19; Monetary unions; Anti-money laundering and combating the financing of terrorism (AML/CFT); Financial Sector Assessment Program; Middle East and Central Asia; Caribbean; Sub-Saharan Africa; Europe
Cover Policy Papers
Fifteenth General Review of Quotas—Quota Formula and Realigning Shares
International Monetary Fund. Finance Dept.
and
International Monetary Fund. Statistics Dept.
This paper provides background for an initial discussion under the Fifteenth General Review of Quotas (15th Review) in line with the work plan agreed by the Executive Board. It discusses issues related to further reforms of the quota formula and realigning quota shares, based on updated quota data through 2015. A companion paper, to be discussed separately, will address issues related to the size of the Fund and mix of quota and borrowed resources. Both these papers seek to facilitate initial discussions on some of the key issues for the 15th Review. No proposals are made at this stage, recognizing that further deliberations will be needed before the issues under discussion can begin to be narrowed down.
Keywords:
quota share; GDP blend; distributing quota; IMF body; IFS data; Purchasing power parity; Capital flows; Capital account; Balance of payments statistics; Financial account; Africa; Global; Middle East; Western Hemisphere; Asia and Pacific; I. quota formula variable; realigning share; International reserves
Cover Policy Papers
Fifteenth General Review of Quotas—Further Considerations
International Monetary Fund. Finance Dept.
,
International Monetary Fund. Strategy, Policy, &amp
, and
Review Department
The paper revisits the two-pillar framework for assessing the adequacy of Fund resources. Responding to Directors suggestions, the quantitative pillar is updated to include alternative assumptions and to provide a longer-term perspective on likely resource needs. While quantitative estimates are generally somewhat lower after factoring in the alternative assumptions, these reductions are more than outweighed when the analysis is extended through the middle of the next decade, recognizing that the outcome of the 15th Review will likely determine permanent Fund resources through at least the middle of the next decade. The updated qualitative pillar analysis highlights reforms since the global financial crisis and discusses uncertainties in the global environment. It also provides an assessment of the general impact of the various qualitative considerations. Taken together, the two pillars continue to make a case for at least maintaining existing Fund resources. Against this background, the simulations in the paper cover three illustrative sizes for quota increases (50, 75, and 100 percent), centered on broadly maintaining Fund resources, assuming the New Arrangements to Borrow (NAB) is maintained at its current level and Bilateral Borrowing Agreements (BBAs) expire.
Keywords:
quota share; PRGT loan; midpoint SetC Formula; contribution share; directors noting; Dem. rep.; Concessional external borrowing; Global financial crisis of 2008-2009; Sovereign debt restructuring; Financial safety nets; Global; Africa
Cover Regional Economic Outlook, October 2018, Sub-Saharan Africa
Regional Economic Outlook, October 2018, Sub-Saharan Africa
Capital Flows and The Future of Work
International Monetary Fund. African Dept.

Abstract

The macroeconomic outlook for sub-Saharan Africa continues to strengthen with higher growth, easing inflation, and stabilizing public debt ratios with some countries improving their fiscal balances. But there are concerns on the quality of the fiscal adjustment and underlying vulnerabilities have yet to be decisively addressed.

Keywords:
REO; Sub-Saharan Africa; exchange rate; country
Cover Regional Economic Outlook, October 2018, Sub-Saharan Africa
Regional Economic Outlook, October 2018, Sub-Saharan Africa
Capital Flows and The Future of Work
International Monetary Fund. African Dept.

Abstract

The macroeconomic outlook for sub-Saharan Africa continues to strengthen with higher growth, easing inflation, and stabilizing public debt ratios with some countries improving their fiscal balances. But there are concerns on the quality of the fiscal adjustment and underlying vulnerabilities have yet to be decisively addressed.

Keywords:
REO; Sub-Saharan Africa; exchange rate; country
Cover IMF Staff Country Reports
Democratic Republic of São Tomé and Príncipe: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper focuses on the prospects of growth in São Tomé and Príncipe (STP). This case study seeks explanations for STP’s relative under-performance and draws lessons for the future. It compares past economic developments in the islands and recommends policies that could most effectively foster future growth in STP. Country-specific characteristics as well as weak institutions contributed to STP’s relative underperformance since independence. Initial conditions, particularly regarding human capital and natural resources, contributed to STP’s relative underperformance, especially in the first decade after independence. Experience in the four island-states suggests that fiscal discipline, revenue mobilization, and a more active private sector, particularly in the tourism sector, may be key to tap STP’s growth potential. Fiscal discipline is needed to contain the fiscal deficit and bring the debt to a sustainable level. Continuing to strengthen public financial management, including implementing multiannual fiscal framework as recommended by the IMF technical assistance, would help.
Keywords:
ISCR; CR; food inflation; STP tourism receipts; inflation dynamics; STP's economy; food price inflation; Loans; Inflation; Nonperforming loans; Arrears; Tourism; Africa; Sub-Saharan Africa; Pacific Islands; Caribbean
Cover Regional Economic Outlook, October 2018, Sub-Saharan Africa
Regional Economic Outlook, October 2018, Sub-Saharan Africa
Capital Flows and The Future of Work
International Monetary Fund. African Dept.

Abstract

The macroeconomic outlook for sub-Saharan Africa continues to strengthen. Growth is expected to increase from 2.7 percent in 2017 to 3.1 percent in 2018, reflecting domestic policy adjustments and a supportive external environment, including continued steady growth in the global economy, higher commodity prices, and accommodative external financing conditions. Inflation is abating; and fiscal imbalances are being contained in many countries. Over the medium term, and on current policies, growth is expected to accelerate to about 4 percent, too low to create the number of jobs needed to absorb anticipated new entrants into labor markets.

Keywords:
REO; Sub-Saharan Africa; exchange rate; country
Cover Regional Economic Outlook, October 2018, Sub-Saharan Africa
Regional Economic Outlook, October 2018, Sub-Saharan Africa
Capital Flows and The Future of Work
International Monetary Fund. African Dept.

Abstract

The macroeconomic outlook for sub-Saharan Africa continues to strengthen. Growth is expected to increase from 2.7 percent in 2017 to 3.1 percent in 2018, reflecting domestic policy adjustments and a supportive external environment, including continued steady growth in the global economy, higher commodity prices, and accommodative external financing conditions. Inflation is abating; and fiscal imbalances are being contained in many countries. Over the medium term, and on current policies, growth is expected to accelerate to about 4 percent, too low to create the number of jobs needed to absorb anticipated new entrants into labor markets.

Keywords:
REO; Sub-Saharan Africa; exchange rate; country; Zimbabwe dollar; country group composite; low-income country; countries in fragile situation; country abbreviation; Emerging and frontier financial markets; Capital flows; Foreign direct investment; Africa; Global; West Africa; Southern Africa; productivity gain; sub-Saharan Africa sovereign; sub-Saharan Africa's export; flows to sub-Saharan Africa; asset flow; advanced economy; sub-Saharan Africa country; sub-Saharan Africa's convergence; IMF staff calculation; Caribbean; Middle East