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Business and Economics > Public Finance

You are looking at 1 - 10 of 28 items for :

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Cover IMF How To Notes
How to Assess Spending Needs of the Sustainable Development Goals: The Third Edition of the IMF SDG Costing Tool
Piergiorgio M Carapella
,
Ms. Tewodaj Mogues
,
Julieth C Pico-Mejia
, and
Mauricio Soto
This note provides a technical overview and description of the 3rd edition of the IMF SDG costing tool that estimates the additional spending needs to achieve a strong performance in selected SDGs for human capital development (health and education) and physical capital development (infrastructure), in particular, water and sanitation, electricity, and roads. The 3rd edition includes data and methodological updates to, but generally remains faithful to the original approach described in, Gaspar et al. (2019). Globally, additional spending needed to achieve a strong performance in the selected SDGs in 2030 amounts to US$3.0 trillion (3.4 percent of 2030 world GDP). Estimated at 16.1 percent of 2030 LIDC GDP, the average additional SDG cost of this income group is significantly higher than in EMEs, who face additional spending amounting to 4.8 percentage points of their GDP in 2030. In contrast to EMEs and LIDCs, the additional cost for AEs is low, under 0.2 percent of their 2030 GDP.
Keywords:
SDGs; Sustainable Development Goals; expenditure; spending needs; cost; health; education; water; sanitation; electricity; roads; SDG spending; edition SDG; desk estimate; costing tool; Sustainable Development Goals (SDG); Health care spending; Infrastructure; Global; Caribbean; Central Asia and the Caucasus; Middle East; North Africa
Cover Regional Economic Outlook, Sub-Saharan Africa, October 2023
Regional Economic Outlook, Sub-Saharan Africa, October 2023
Light on the Horizon?
International Monetary Fund. African Dept.

Abstract

Still emerging from the COVID-19 pandemic, countries in sub-Saharan Africa have been hit by a sluggish global economy, worldwide inflation, high borrowing costs, and a cost-of-living crisis. In many cases, inflation is still too high, borrowing costs are still elevated, exchange-rate pressures persist, and political instability is an ongoing concern. To ensure that the coming rebound is more than just a transitory glimpse of sunshine, it is important for authorities to guard against a premature relaxation of stabilization policies, while also focusing on reforms to both claw back lost ground from the four-year crisis and also to create new space to address the region’s pressing development needs.

Keywords:
economic conditions; economic forecasting; Africa economic development; economic policy; sub-Saharan Africa; inflation expectation; inflation-depreciation spiral; funding squeeze; food price inflation; IMF financing arrangement; consumption basket; sub-Saharan Africa face; inflation fall; Inflation; Exchange rates; Food prices; Central bank policy rate; Government debt management; Global
Cover IMF Staff Country Reports
Vietnam: Technical Assistance Report-Macroeconomic Framework Technical Assistance–Ministry of Planning and Investment: Scoping Mission
International Monetary Fund. Institute for Capacity Development
This paper presents the findings, summary and recommendations of macroeconomic framework technical assistance (TA) mission in Vietnam. The purpose of this technical assistance (TA) project initiated by this scoping mission is building capacity in macroeconomic analysis and forecasting in the Ministry of Planning and Investment (MPI). The MPI is establishing a Core Working Group (CWG) under MPI’s coordination that will carry out macroeconomic analysis and asked the IMF assistance in building the capacity of the CWG. The mission found that there is no fully-fledged multi-sector macroeconomic framework used by departments across different ministries in charge of macroeconomic analysis and forecasting. The CWG will take the lead in implementing the activities and identify targets in the TA action plan and will be supported by the IMF TA team. The CWG will develop and customize the macroeconomic projection tool (MPT) for Vietnam, operate the MPT to produce macroeconomic analysis and forecasting, develop user guides and manuals for staff, and present the output to policy makers as part of the policy making process.
Keywords:
Vietnam; Technical Assistance; Technical Assistance Reports; Macro-fiscal analysis; Macro-fiscal framework; Macroeconomic and fiscal forecasts.; IMF TA team; MPI staff; IMF mission team; Asia Pacific department of the IMF; TA beneficiary department; TA project; Development strategy; Budget planning and preparation; Global
Cover IMF Staff Country Reports
Angola: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper explores development planning, sustainable development goals (SDG) progress, and fiscal space in Angola. Economic diversification and poverty reduction in Angola will require more and better-quality spending on human and physical capital and, thus, greater fiscal space. Spending in these areas has historically been lower relative to lower middle-income country peers, although broadly in line with other SSA countries, and with weak outcomes. Boosting human and physical capital with the goal of economic diversification and poverty reduction in mind will likely be a primary focus of the authorities’ 2023-27 National Development Plan. This paper finds that achieving those goals, as benchmarked by the SDGs, will entail greater and more targeted investment, with the largest spending needs falling around education and health. As such, creating additional fiscal space, following through on the structural fiscal reform agenda, and attracting private investment will all be critical components of improving the level and quality of development spending in Angola.
Keywords:
SDG progress; D. SDG performance; financing framework; growth disorder; guarantee scheme; Credit; Sustainable Development Goals (SDG); Health care spending; Total expenditures; Global
Cover IMF Staff Country Reports
Angola: Temas Seleccionados
International Monetary Fund. African Dept.
Temas Seleccionados
Keywords:
SDG progress; D. SDG performance; financing framework; growth disorder; guarantee scheme; Credit; Sustainable Development Goals (SDG); Health care spending; Total expenditures; Global
Cover Policy Papers
The Managing Director’s Update on the FY 2023 Work Program of the Executive Board
International Monetary Fund. Policy Development and Review Dept.
The membership is facing significant challenges, including high inflation, rising food and energy insecurity, elevated debt levels, tightening financial conditions, volatile capital flows and exchange rates, and intensifying geopolitical fragmentation. To this end, the Executive Board Work Program focuses on policy responses and bilateral and multilateral advice to stabilize the global economy and build resilience, critical financial assistance to those countries most affected by these shocks, and capacity development support to help implement policy advice. More than ever, the Fund has a key role to play in promoting international cooperation and collaborative solutions to shared challenges, including those related to climate, digitalization, and inclusion.
Keywords:
surveillance policy agenda; fund policy; surveillance agenda; executive board executive board meeting; resilience agenda; IMF lending toolkit; Digitalization; Development strategy; Climate policy; Global
Cover IMF Staff Country Reports
Somalia: Request for an Extension of the Arrangement Under the Extended Credit Facility-Press Release; and Staff Report
International Monetary Fund. Middle East and Central Asia Dept.
In the attached letter, the Somali authorities request an extension of the date on which the arrangement under the Extended Credit Facility (ECF) will automatically expire unless a review is completed to August 17, 2022. On March 25, 2020, the Executive Board approved Somalia’s HIPC Initiative Decision Point1 and a three-year arrangement under the ECF.2 The first review under the ECF arrangement was completed by the Executive Board on November 18, 2020.3 However, as no review has been completed since then, the ECF arrangement is set to automatically expire on May 17, 2022, in line with the rule on automatic expiration of ECF arrangements if no review has been completed for 18 months. Under Fund policy, the Board may decide to delay the automatic expiry of the arrangement by up to three months if staff and the authorities appear close to reaching understandings on targets and measures to put the ECF-supported program back on track.
Keywords:
ECF arrangement; IMF's transparency policy; IMF's executive board; election delay; ECF review; Development policy; Development assistance; Global
Cover Good Governance in Sub-Saharan Africa
Good Governance in Sub-Saharan Africa
Opportunities and Lessons

Abstract

Governance and corruption issues have taken the center stage in international discussions, especially after the adoption by the IMF in 2018 of a new framework for engagement on governance and corruption. Sound institutions that guarantee integrity in the management of public affairs are critical on the path toward higher and more inclusive growth. Corruption undermines the quality of institutions, weakens the effectiveness of government programs, and compromises social trust in government policies. Indeed, countries around the world that improved their governance systems are reaping a “governance dividend,” and governance-enhancing reformist countries in sub-Saharan Africa include Botswana, Rwanda, and Seychelles. In addition, Liberia, Sierra Leone, and Angola demonstrate that important reforms are possible, including in fragile environments. The importance of good governance has acquired even more importance as countries try to introduce policies to fight the ongoing COVID-19 pandemic. Special attention to governance in an emergency context, including situations associated with conflict, other health crises and natural disasters, is therefore essential. Innovation and new technologies are critical instruments that policymakers can use in their efforts to improve governance and transparency.

Keywords:
Governance; financing; growth; emergencies; pandemic; digitization; resource-rich countries; fragile and conflict-afflicted countries; tax official; government effectiveness; governance indicator; corruption perception; governance challenge; government policy; Corruption; Auditing; Anti-money laundering and combating the financing of terrorism (AML/CFT); Oil; Sub-Saharan Africa; Africa; Global; Caribbean; Middle East; South Asia
Cover Policy Papers
Guidance Note on Information Sharing Between IMF and World Bank Staff
International Monetary Fund. Strategy, Policy, & Review Department
and
World Bank
This Guidance Note outlines good practices on information-sharing across key areas in which the Bank and the IMF interact. The note outlines general principles consistent with these frameworks and discusses how the staffs of the two institutions are expected to exchange information related to country operations, technical assistance, and policy work.
Keywords:
World Bank staff; guidance note; information sharing; fund staff; share Between IMF; Debt sustainability analysis; Debt relief; Development assistance; Development policy; Global
Cover IMF Staff Country Reports
The Gambia: Selected Issues
International Monetary Fund. African Dept.
Selected Issues
Keywords:
background documentation; infrastructure gap; SDG financing framework; infrastructure governance institution; public spending efficiency; SDG financing simulation; IMF staff calculation; Infrastructure; COVID-19; Expenditure efficiency; Sustainable Development Goals (SDG); Africa; Global; Sub-Saharan Africa