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Business and Economics > Public Finance

You are looking at 1 - 10 of 3,290 items for :

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  • Asia and Pacific x
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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 Working Papers
Pension Reform and Stock Market Development
Shujaat Khan
,
Bo Li
, and
Yunhui Zhao
We highlight the strong connection between developing fully-funded, individually-owned, collectively-managed, mandatory/incentivized (FICMI) pension schemes and the development of domestic stock markets. We do so by building a stylized model and complementing the analysis with cross-country empirical analysis and case studies. We also highlight the challenges of individual impatience, network externalities, and coordination failure in long-term equity investments, which are crucial for stock market development and technological innovation. We find that FICMI pension schemes—when sufficiently wide in coverage and large in size—can serve as coordination devices to support long-term equity investments. Such investments will not only promote domestic stock market development and make it easier for firms to raise long-term equity capital, therefore supporting long-term economic growth, but also enhance financial inclusion and enable more households to benefit from the overall economic development, therefore contributing to inclusive growth. Moreover, we find that the introduction of FICMI pension schemes can impact household savings in two ways: first, FICMI pension can increase household savings through “forced/incentivized” savings channel, where households save too little without FICMI pension (such as in many EMDEs); and second, FICMI pension can decrease household savings and increase household consumption by reducing non-pension savings and decreasing precautionary savings, where households save too much without FICMI pension (such as in China). In both cases, FICMI pension schemes can help move the economy closer to the optimal level of household savings, and may also help improve the structure of such savings. Finally, we discuss the enabling conditions (such as a strong political commitment to the reform and a well-designed fiscal strategy for financing the transition) and policy design for FICMI pension schemes.
Keywords:
Pension Reforms; Stock Market Development; Equity Financing; Innovation' Financial Inclusion; Intertemporal Optimization; Public Pensions; Funded and Private Pensions; FICMI pension schemes; household saving; savings channel; IMF working paper No. 25/49; Pension spending; Pensions; Stock markets; Pension reform; Capital markets; East Asia
Cover Technical Assistance Reports
Republic of the Marshall Islands: Technical Assistance Report-Consumption and Income Tax Reform
International Monetary Fund. Fiscal Affairs Dept.
This report provides analysis and advice on tax policy and administration reforms to modernize and improve the income and consumption tax system. On consumption taxes, the key recommendation is to replace the current system that is based on import tariffs, a business turnover tax, and local sales taxes, by a more efficient and equitable system with a broad-based value-added tax, selected excises to address externalities, and a profit tax. On income taxes, the report recommends base broadening and simplifying the rate structure.
Keywords:
Personal income tax; Corporate income tax; Value-added tax; Turnover tax; Republic of the Marshall Islands.; schedule reform option; Marshalls energy company; gross revenue; profit tax; capacity development mission; reform management governance; tax administration issue; income tax reform; administration system; Marshall Islands consumption tax; Tax administration core functions; Consumption taxes; Income and capital gains taxes; Global; Asia and Pacific; Pacific Islands
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
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
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
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
Cover IMF Staff Country Reports
Thailand: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand
International Monetary Fund. Asia and Pacific Dept
Thailand’s cyclical recovery is underway, though it has yet to become broad-based. Growth is projected to accelerate moderately, reaching 2.7 percent in 2024 and 2.9 percent in 2025, supported by the rebound of tourism-related activities and fiscal stimulus. The slow recovery, weaker than in ASEAN peers, is rooted in Thailand’s longstanding structural weaknesses and emerging headwinds that also contribute to a muted inflation trajectory. Significant uncertainty in the external environment and downside risks cloud the outlook.
Keywords:
inflation expectation; inflationtargeting monetary policy framework; supply and use tables; monetary policy analysis; Thai baht; Trade balance; Inflation; Credit; Global
Cover IMF Staff Country Reports
Thailand: Selected Issues
International Monetary Fund. Asia and Pacific Dept
2024 Selected Issues
Keywords:
fan chart; household debt; Thailand's debt ceiling; public debt debt ceiling; estimates of debt limits; Debt limits; Consumer credit; Loans; Consumer loans; Global; Eastern Europe