Narrow Your Choices

Refine By Countries

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Political Science > Agriculture & Food Policy

You are looking at 1 - 10 of 39 items for :

  • Type: Journal Issue x
  • Public Economics x
Clear All Modify Search
Cover IMF Working Papers
Investing in Climate Adaptation under Trade and Financing Constraints: Balanced Strategies for Food Security
Chen Chen
,
Koralai Kirabaeva
, and
Danchen Zhao
Financially constrained governments, particularly in emerging and developing economies, tend to face a fiscal trade-off between adapting to climate change impacts and pursuing broader development goals. This trade-off is especially relevant in the agriculture sector, where investing in adaptation is critical to ensure food security amidst climate change. International trade can help alleviate this challenge and reduce adaptation investment needs by offsetting agricultural production shortages. However, in the presence of trade fragmentation, the adaptive role of trade diminishes, exacerbating food insecurity and increasing investment needs for adaptation. In this paper, we present a model to guide policymakers in deciding on the cost-efficient balance between investing in adaptation in the agricultural sector versus in broader development under financing and trade constraints. We apply the model to Ghana, Egypt, and Brazil, to examine the adaptation-development trade-off and highlight factors that would potentially lower adaptation investment needs. These factors include trade openness, higher agricultural productivity and efficiency of adaptation spending, and reduced labor market distortions. The key takeaways from the model applications suggest that (i) promoting trade openness and accessing concessional finance for adaptation help tackle climate challenges and ensure food security in lower-income countries; and (ii) domestic structural reforms are necessary to facilitate adaptation investments and reduce investment needs, by improving labor market flexibility, adaptation efficiency, and agriculture productivity.
Keywords:
agriculture; investment; adaptation; trade; climate change; adaptation investment; trade openness; trade cost; development investment; trade fragmentation; Agricultural sector; Food security; Agricultural production; Global
Cover IMF Staff Country Reports
Burkina Faso: 2024 Article IV Consultation and First Review Under the Extended Credit Facility and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso
International Monetary Fund. African Dept.
This paper focuses on Burkina Faso’s 2024 Article IV Consultation and First Review under the Extended Credit Facility Arrangement and Financing Assurances Review. Burkina Faso’s performance under the program has been positive. All quantitative performance criteria, all indicative targets but one, and most structural benchmarks for the first review were met; some structural benchmarks were implemented with delay. Burkina Faso faces multiple development challenges, including heightened security conditions, climate change, and food insecurity. The authorities are progressing in their fiscal consolidation efforts, structural reforms and fiscal governance measures, and the creation of fiscal space for priority spending. Growth accelerated in 2023 to 3.6 percent of gross domestic product, supported by a rebound in construction and expansion of the tertiary sector. Inflation significantly decreased, and the fiscal and debt positions improved. Growth is projected at 5.5 percent in 2024 but remains below potential in the medium term, and a lasting recovery is contingent on bringing security under control.
Keywords:
consultation cycle; HIPC resource; investment expenditure budgeting; SDR equivalent; appreciation to IMF management; Debt sustainability; Food security; Global; Africa
Cover IMF Staff Country Reports
Belize: Selected Issues
International Monetary Fund. Western Hemisphere Dept.
This Selected Issue paper documents the recent episode of food inflation and food insecurity in Belize. The paper also overviews what policies were announced in Belize and the Caribbean during the recent cost-of-living crisis; and discusses the policies Belize could implement to protect its most vulnerable households from the threat of food insecurity going forward. It discusses the appropriate policies to protect vulnerable households from food price inflation going forward based on economic theory and best practices and estimates how much it would cost the government of Belize to protect the vulnerable population against a rise in food prices like the one in 2022. The authorities should evaluate the impact of the recent policy that regulates mark-ups on essential goods by wholesale and retail operators when they have sufficient data. The limits on the mark-up for 32 essential goods were introduced to limit the increase in food prices and avoid monopolistic practices.
Keywords:
food inflation; staff ream; debt target; cost of living crisis; B. food inflation; food inflation in Belize; price signals work; Food prices; Food security; Inflation; Fiscal stance; Caribbean; Global
Cover IMF Staff Country Reports
Burkina Faso: demande d’un nouvel accord économique et financier au titre du mécanisme élargi de crédit et de la facilité élargie de crédit-communiqué de presse; rapport des services du FMI; déclaration de l’administrateur FMI pour le Burkina Faso
International Monetary Fund. African Dept.
Le Burkina Faso est confronté à d’importants besoins en matière de balance des paiements et de sécurité aggravés par une insécurité alimentaire aiguë et une instabilité politique. Les autorités ont obtenu en mars 2023 un financement d’urgence de la part du FMI au titre du guichet « chocs alimentaires » de la facilité de crédit rapide pour répondre à la crise provoquée par l’insécurité alimentaire, qui demeure très vive dans certaines régions. L’aide internationale au développement a diminué après les deux coups d’État militaires survenus en 2022. Le Burkina Faso est parvenu à un accord avec la Communauté économique des États d’Afrique de l’Ouest (CEDEAO) sur un retour à l’ordre constitutionnel et des élections doivent se dérouler d’ici juillet 2024.
Keywords:
crise de l’insécurité alimentaire; la mise en œuvre de l’intervention d’urgence alimentaire; la mise en œuvre par les autorités; les dépenses alimentaires d’urgence; déficit de financement; Viabilité de la dette; Planification et préparation du budget; Global
Cover IMF Staff Country Reports
Burkina Faso: Request for a Four-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso
International Monetary Fund. African Dept.
This paper discusses Burkina Faso’s Request for a Four-Year Arrangement Under the Extended Credit Facility (ECF). Burkina Faso faces protracted balance of payments problems, reflecting large development needs and the impact of shocks such as the coronavirus disease 2019 pandemic, adverse weather conditions, deteriorating domestic security, the food insecurity crisis, and spillovers from Russia’s war in Ukraine. These shocks have disrupted economic activity, affected livelihoods, and exacerbated macroeconomic imbalances. The ECF will help create fiscal space for priority spending, strengthen resilience to shocks while reducing poverty, and bolster fiscal discipline, transparency and governance. It will also help close financing gaps reflecting tight financial conditions, large fiscal deficits, debt vulnerabilities, food insecurity, and fragile security conditions. For the country’s long-term development process, it remains essential to sustain structural reforms to foster economic growth and diversification as well as to reduce poverty. In this context, further efforts to improve the business environment, reinforce governance and anticorruption efforts, and address the security crisis are critical.
Keywords:
food insecurity crisis; implementation of the food emergency response; authorities' implementation; emergency food expenditure; financing gap; Debt sustainability; Budget planning and preparation; Global
Cover Policy Papers
Review of Experience with The Food Shock Window Under The Rapid Financing Instrument and The Rapid Credit Facility
International Monetary Fund. Finance Dept.
,
International Monetary Fund. Legal Dept.
, and
International Monetary Fund. Strategy, Policy, & Review Department
The Food Shock Window (FSW) under the Rapid Credit Facility (RCF) and the Rapid Financing Instrument (RFI) was approved in September 2022 for 12 months, as a complement to the tools used by the Fund to support the broader international effort to address the global food shock. The Fund has been working closely with partners to provide a coordinated international response to the global food shock, and has contributed through policy advice, technical assistance and lending. Where needed and possible, financial support to countries affected by the global food shock has been delivered by the IMF through multi-year Fund-supported programs The FSW complemented this support in situations where these programs were not feasible or not necessary. As the global food shock and associated balance of payment pressures are expected to continue throughout 2023, the IMF extended the FSW until end-March 2024 to allow the FSW to continue serving as a contingency tool. This extension will also provide sufficient time to observe if the FSW can lapse without limiting the capacity of the Fund to support its members. To ensure adequate borrowing space under the emergency financing limits for those countries that have received support through the FSW, the IMF also extended the additional 25 percent of quota added to the Cumulative Access Limit until end-2026 for countries that have accessed the Food Shock Window through the RFI and until the completion of the 2024/25 PRGT review for those that accessed the Food Shock Window through the RCF.
Keywords:
Cumulative Access Limits; Rapid Financing Instrument; Rapid Credit Facility; Food Insecurity; FSW request; FSW financing; UCT-quality program; FSW relative; FSW experience; FSW resource; Food security; Food prices; Emergency assistance; Balance of payments need; Global
Cover IMF Staff Country Reports
Mali: 2023 Article IV Consultation-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Mali
International Monetary Fund. African Dept.
This 2023 Article IV Consultation highlights that Mali’s economy has been hit by multiple shocks since 2020 but remained resilient in 2022 amid high inflation. Real gross domestic product (GDP) growth increased from 3.1 percent in 2021 to 3.7 percent in 2022, despite elevated security and socio-political challenges, regional sanctions in the first half of 2022 and a high incidence of food insecurity. Growth is projected to rebound to over 5 percent in 2023 and 2024, assuming strong agricultural and gold output. However, the economic outlook is subject to significant downside risks. They include a worsening security situation, potential election delays, volatile international commodity prices, tighter global financial conditions, and climate risks. The government’s fiscal deficit reflects a rapid increase in security spending, public wages, and the interest bill, which are crowding out growth-friendly spending including those on the social safety net and capital investment. Mali’s current account deficit improved slightly in 2022, down to 6.9 percent of GDP from 7.5 percent in 2021, on account of higher gold exports and lower capital goods imports.
Keywords:
Malian authorities' effort; authorities' roadmap; B. financing condition; concerted effort; medium-term projection; Government debt management; Debt sustainability; Global; West Africa
Cover IMF Staff Country Reports
Mali: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper focuses on climate vulnerabilities and food insecurity in Mali. Mali is extremely vulnerable to climate change and the country is already facing acute climate-related challenges from higher temperatures and more frequent extreme weather events. The impact of climate change has also contributed to a rise in food insecurity, with almost a quarter of the population expected to be either facing food insecurity or at risk of doing so by mid-2023. That is already having a hugely damaging effect on Mali’s economy and action is needed immediately to avoid a further increase in food insecurity. Building future resilience to climate change will require effective adaptation strategies in the primary sector. With climate change already adding to food insecurity in Mali, there is an urgent need to address these related issues. The country is extremely vulnerable to climate change, and food insecurity is rising. Any further increase in food insecurity has the potential to exacerbate social tensions, with the risk of further conflict. It will also have a lasting adverse impact on economic growth and poverty. There is therefore a pressing need to act immediately.
Keywords:
wage bill; Mali debt Dynamics scenario; reform priority; Customs administration website; governance diagnostic; Climate change; Food security; Wages; Public sector wages; Sub-Saharan Africa; Africa; Global
Cover Selected Issues Papers
Food Insecurity and Climate Shocks in Madagascar: Republic of Madagascar
Dominique Fayad
Food insecurity dramatically increased in Madagascar over the last 10 years, hampering human development. Using most recent data and surveys conducted by UN Agencies and local authorities, this paper analyzes the root causes of food insecurity in Madagascar related to demographic vulnerabilities, multidimensional poverty, lack of education, as well as structural weaknesses in the food value chain and the lack of basic infrastructure, such as irrigation and transportation, that hamper agricultural activity development. Moreover, Madagascar is exposed to a large variety of climate shocks that climate change will likely exacerbate. This paper formulates country specific macroeconomic and operational policy recommendations in collaboration with the World Food Program to reduce food insecurity, which include i) measures to improve the emergency response and preparedness, ii) policies to address structural food insecurity, by improving the food chain and addressing challenges posed by climate shocks, and iii) measures to improve Green PFM and climate related public investment management to invest in long-term resilience and mobilize external financing.
Keywords:
Food Insecurity; Climate Change; Public Finance; Madagascar; food value chain; policy recommendation; value chain; climate change risk; food inflation; food consumption; Natural disasters; Food security; Global; Caribbean; Sub-Saharan Africa
Cover IMF Staff Country Reports
Central African Republic: Selected Issues
International Monetary Fund. African Dept.
Selected Issues
Keywords:
reforming fuel price; import cost audit; cryptographic ambition; CAR authorities; fuel products; Virtual currencies; Food security; Fuel prices; Price structures; Global; Sub-Saharan Africa