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Africa > Malawi

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Cover Technical Assistance Reports
Malawi: Technical Assistance Report-Report on the Improving Estimates of Gross Domestic Product Mission (June 24–July 5, 2024)
International Monetary Fund. Statistics Dept.
The mission assisted the National Statistical Office of Malawi improve the quality of the published annual estimates of Gross Domestic Product (GDP), progressed the use of Value Added Tax (VAT) data as a basis for developing quarterly series and supported development of current price estimates of GDP based on the expenditure approach (GDP-E). Specially, the mission reviewed the quality of the published GDP series and finalized Supply and Use Tables for 2017. This allowed the development of annual current price estimates of GDP-E. In addition, the mission initiated estimation of quarterly current price estimates of GDP for some activities based on data for company sales from Malawi’s VAT system.
Keywords:
GDP; Supply and Use Tables; expenditure GDP; quarterly GDP; administrative data; value added tax; Malawi.; business processing documentation; STA Department; estimates of GDP-E; consumption expenditure; VAT data; Value-added tax; Consumer price indexes; Gross fixed investment
Cover Staff Discussion Notes
Macro-Structural Policies and Income Inequality in Low-Income Developing Countries
Ms. Stefania Fabrizio
,
Davide Furceri
,
Mr. Rodrigo Garcia-Verdu
,
Ms. Grace B Li
,
Mrs. Sandra V Lizarazo Ruiz
,
Ms. Marina Mendes Tavares
,
Mr. Futoshi Narita
, and
Adrian Peralta
Despite sustained economic growth and rapid poverty reductions, income inequality remains stubbornly high in many low-income developing countries. This pattern is a concern as high levels of inequality can impair the sustainability of growth and macroeconomic stability, thereby also limiting countries’ ability to reach the Sustainable Development Goals. This underscores the importance of understanding how policies aimed at boosting economic growth affect income inequality. Using empirical and modeling techniques, the note confirms that macro-structural policies aimed at raising growth payoffs in low-income developing countries can have important distributional consequences, with the impact dependent on both the design of reforms and on country-specific economic characteristics. While there is no one-size-fits-all recipe, the note explores how governments can address adverse distributional consequences of reforms by designing reform packages to make pro-growth policies also more inclusive.
Keywords:
SDN; productivity; rate; revenue; Income inequality; growth; macro-structural policies; resource mobilization; infrastructure investment; financial sector reform; financial inclusion; agriculture; cash transfer program; higher-productivity sector; inequality in low-income developing countries; productivity gap; cost of capital; income fluctuation; Value-added tax; Income; Agricultural sector; Income distribution; Caribbean
Cover IMF Working Papers
Debt Sustainability, Public Investment, and Natural Resources in Developing Countries: the DIGNAR Model
Mr. Giovanni Melina
,
Ms. Susan S. Yang
, and
Luis-Felipe Zanna
This paper presents the DIGNAR (Debt, Investment, Growth, and Natural Resources) model, which can be used to analyze the debt sustainability and macroeconomic effects of public investment plans in resource-abundant developing countries. DIGNAR is a dynamic, stochastic model of a small open economy. It has two types of households, including poor households with no access to financial markets, and features traded and nontraded sectors as well as a natural resource sector. Public capital enters production technologies, while public investment is subject to inefficiencies and absorptive capacity constraints. The government has access to different types of debt (concessional, domestic and external commercial) and a resource fund, which can be used to finance public investment plans. The resource fund can also serve as a buffer to absorb fiscal balances for given projections of resource revenues and public investment plans. When the fund is drawn down to its minimal value, a combination of external and domestic borrowing can be used to cover the fiscal gap in the short to medium run. Fiscal adjustments through tax rates and government non-capital expenditures—which may be constrained by ceilings and floors, respectively—are then triggered to maintain debt sustainability. The paper illustrates how the model can be particularly useful to assess debt sustainability in countries that borrow against future resource revenues to scale up public investment.
Keywords:
WP; natural resource; Natural resources; Public Investment; Debt Sustainability; Small Open DSGE Models; DIGNAR; Developing Countries; investment path; scaling-up investment target; investment efficiency; investment adjustment cost parameter; investment approach; investment scaling-up path; resource revenue; Public investment spending; Commercial borrowing; Consumption taxes; Sub-Saharan Africa; Africa
Cover IMF Working Papers
Coordinating Tariff Reduction and Domestic Tax Reform
Mr. Michael Keen
and
Ms. Jenny E Ligthart
A key obstacle to fundamental tariff reform in many developing countries is the revenue loss that it ultimately implies. This paper establishes a simple and practicable strategy for realizing the efficiency gains from tariff reform without reducing public revenues, showing that for a small open economy, a cut in tariffs combined with a point-for-point increase in domestic consumption taxes increases both welfare and public revenues. Increasingly stringent conditions are required, however, to ensure unambiguously beneficial outcomes from this reform strategy when allowance is made for such important features as nontradeable goods, intermediate inputs, and imperfect competition.
Keywords:
WP; production efficiency; tariff reform; tax reform; intermediate inputs; imperfect competition; reform of the kind; tariff revenue; tariff reduction; revenue function; reform literature; tax-tariff reform; reform design; reducing tariff; Tariffs; Consumption taxes; Consumer prices; Producer prices; Consumption; Africa