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Business and Economics > Public Finance

You are looking at 1 - 10 of 7,041 items for :

  • Type: Journal Issue x
  • IMF Staff Country Reports x
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Cover IMF Staff Country Reports
Central African Economic and Monetary Community (CEMAC): Press Release; Staff Report; and Statement by the Executive Director
International Monetary Fund. African Dept.
The CEMAC’s economy lost momentum in 2023. The external position weakened, with the current account shifting to a deficit and foreign reserve accumulation slowing. While inflation continued to ease, it remained elevated. Available data indicate a deterioration in the underlying fiscal positions of many countries. The near-term outlook points to stronger economic activity, with growth projected to accelerate to 3.2 percent in 2024, supported by elevated oil prices and a rebound in oil output. However, the end-June 2024 regional policy assurance on NFA––and, according to preliminary information, the end-December 2024 targets––were not met, indicating a deviation in reserves from the targeted path. Debt vulnerabilities have also worsened in some countries, as evidenced by the growing pressures in the regional government debt market. Following the strong commitment expressed at the extraordinary Heads of State Summit in December 2024 to address macroeconomic imbalances and strengthen regional institutions, all countries are expected to tackle fiscal slippages, restore fiscal prudence, and implement structural reforms to steer the region toward a more resilient medium-term outlook. This should help reduce risks to the capacity to repay the Fund. However, the projections remain uncertain, as the details of corrective measures and reforms are still being finalized between staff and national authorities.
Keywords:
CEMAC authorities; CEMAC country; CEMAC economy; CEMAC heads of state; policy assurance; Financial sector stability; Anti-money laundering and combating the financing of terrorism (AML/CFT); Government securities; Fiscal stance; Global; Central Africa
Cover IMF Staff Country Reports
Angola: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Angola
International Monetary Fund. African Dept.
The economy recovered in 2024 as oil sector rebounded from its slump. However, fiscal consolidation efforts somewhat waned, auguring the start of a political cycle. Buffers built during the 2018–21 EFF—supported program are being eroded by fiscal slippages from higher capital expenditures and a slower fuel subsidy reform. Nevertheless, public debt relative to GDP declined in 2024, benefiting from high nominal GDP growth and debt repayments. High external debt service constrains development spending, while oil dependence represents a drag on sustainable growth. Inflation remains elevated, fueled by exchange rate depreciation, and import substitution measures that have restricted food supply. The National Development Plan 2023–27 remains the main element for the authorities’ diversification strategy.
Keywords:
AFRITAC South; debt management effort; production capacity; inflation expectation; policy transmission; Credit; Inflation; Global; Africa
Cover IMF Staff Country Reports
Sri Lanka: Third Review Under the Extended Arrangement Under the Extended Fund Facility, Financing Assurances Review, and Monetary Policy Consultation Clause-Press Release; Staff Report; and Statement by the Executive Director for Sri Lanka
International Monetary Fund. Asia and Pacific Dept
Sri Lanka underwent a political transition with presidential and parliamentary elections in late 2024. The new authorities expressed commitment to the program. Reform efforts are bearing fruit with growth recovering, low inflation, increased revenue collection, and reserves accumulation. By end-2024, Sri Lanka’s real GDP is projected to have recovered about 40 percent of its loss incurred between 2018 and 2023. Nevertheless, the economy is still vulnerable, and restoration of debt and external sustainability depends on continued implementation of reforms.
Keywords:
tax exemption; staff appraisal; tax concession; COT. authorities; IMF staff estimate; Credit; Anti-money laundering and combating the financing of terrorism (AML/CFT); Global
Cover IMF Staff Country Reports
Malaysia: 2025 Article IV Consultation-Press Release; and Staff Report
International Monetary Fund. Asia and Pacific Dept
Malaysia’s economic performance has significantly improved in 2024, supported by strong domestic and external demand. Disinflation is taking hold and external pressures have eased. The favorable economic conditions provide a window of opportunity to build macroeconomic policy buffers and accelerate structural reforms, especially as risks to growth are tilted to the downside amid an uncertain global outlook. Risks to the inflation outlook are tilted to the upside, including from global commodity price shocks and potential wage pressures.
Keywords:
upside inflation risk; Malaysia's obligation; asset forfeiture regime; upside risk; upside growth risk; Inflation; Anti-money laundering and combating the financing of terrorism (AML/CFT); Credit; Global
Cover IMF Staff Country Reports
El Salvador: Request for Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for El Salvador
International Monetary Fund. Western Hemisphere Dept.
El Salvador has recovered well from the pandemic, supported by robust remittances and buoyant tourism flows, amid a sharp improvement in the country’s security situation. Inflation has fallen and the external imbalances have narrowed more recently, consistent with a gradual improvement in public finances and favorable terms of trade. In this context, sovereign spreads have come down sharply with recent debt buyback operations helping to ease near-term external financing needs. Despite recent progress, El Salvador’s macroeconomic imbalances remain significant, stemming from high fiscal deficits and debt, as well as low external and financial buffers, in the context of dollarization. Meanwhile, underlying productivity remains low, reflecting in part persistent social and infrastructure gaps, as well as a legacy of weak governance and transparency, which have discouraged investment. The Bukele administration is intent on focusing its second mandate on addressing pending macroeconomic and structural challenges and boosting economic growth, under an IMF-supported program.
Keywords:
audited financial statements; staff appraisal; publication of asset declaration; list of statement; Bitcoin transparency; Public sector; Anti-money laundering and combating the financing of terrorism (AML/CFT); Pension spending; Central America; Caribbean; Global
Cover IMF Staff Country Reports
India: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India
International Monetary Fund. Asia and Pacific Dept
Prudent macroeconomic policies have supported India’s economic resilience, with growth expected to recover from a recent softening and inflation expected to converge to target. Risks to the outlook include deepening geoeconomic fragmentation and a slower pace of domestic demand recovery.
Keywords:
IMF article; headline inflation; fund approval; gross investment; potential GDP; Anti-money laundering and combating the financing of terrorism (AML/CFT); Capital spending; Global; Eastern Europe
Cover IMF Staff Country Reports
République islamique de Mauritanie: rapport des services du FMI pour les consultations de 2024 au titre de l’article IV, troisièmes revues des accords au titre de la facilité élargie de crédit et du mécanisme élargi de crédit, demande de modification de critères de réalisation quantitatifs et deuxième revue de l’accord au titre de la facilité pour la résilience et la durabilité-communiqué de presse;rapport des services du FMI; déclaration de l’administrateur pour la République islamique de Mauritanie
International Monetary Fund. Middle East and Central Asia Dept.
L’année 2024 devrait être marquée par un ralentissement de l’activité économique de la Mauritanie, dont le taux de croissance est estimé à 4,6 % (contre 6,5 % en 2023), en raison de résultats poussifs de son secteur extractif. L’inflation est maîtrisée et le déficit du compte des transactions courantes se résorbe. Des risques considérables pèsent sur les perspectives économiques, notamment une escalade des tensions géopolitiques dans la région et des chocs météorologiques. De plus, le développement économique du pays est entravé par des difficultés liées aux infrastructures, à la gouvernance, à la vulnérabilité aux chocs économiques et à une diversification économique limitée.
Keywords:
Recommandation politique de l'article IV; Programmes de transferts monétaires; Analyse de viabilité de la dette; Afrique de l'Est; Mondial; Plan d'action du gouvernement; Trésorerie du gouvernement; Marché des titres d'État; Moyen-Orient; Afrique du Nord.
Cover IMF Staff Country Reports
Solomon Islands: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Solomon Islands
International Monetary Fund. Asia and Pacific Dept
Solomon Islands has weathered the shocks of civil unrest, pandemic, and commodity price hikes, and achieved the milestones of hosting the Pacific Games in late 2023 and conducting peaceful general elections in April 2024. These achievements have raised the country's profile and strengthened national unity, but with costs—public debt has nearly tripled since before the pandemic, and the government's cash reserves have been significantly depleted. While staff expects continued modest growth in 2024 and 2025, medium-term growth prospects appear moderate and fiscal and current account deficits are expected to persist. Now is the time for the authorities to advance reforms to tackle the perennial challenge of stagnant per-capita income growth, while ensuring fiscal sustainability and resilience.
Keywords:
CBSI assessment; CBSI approval; government estimate; Solomon Islands' economy; article IV consultation discussion; Budget planning and preparation; Asia and Pacific; Pacific Islands; Global
Cover IMF Staff Country Reports
Solomon Islands: Selected Issues
International Monetary Fund. Asia and Pacific Dept
2024 Selected Issues
Keywords:
government debt data; Solomon Islands' challenge; effectiveness of Solomon islands; D. enhancing effectiveness; debt anchor; Budget planning and preparation; Fiscal governance; Government finance statistics; Global
Cover IMF Staff Country Reports
Qatar: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
2024 Selected Issues
Keywords:
AI readiness; AI adoption; B. Qatar's progress; artificial intelligence in Qatar; innovation policy; Export diversification; Capital spending; Exports; Human capital; Global; Middle East; Eastern Europe; Europe