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Middle East and Central Asia > Qatar

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

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Cover IMF Staff Country Reports
Rwanda: Third Review Under the Policy Coordination Instrument-Press Release; Staff Report; and Statement by the Executive Director and Staff Representative for Rwanda
International Monetary Fund. African Dept.
The COVID-19 pandemic is having an adverse impact on Rwanda’s economy, despite a sizeable policy response. Output in 2020 is projected to contract by 0.2 percent, compared to an 8 percent increase expected pre-pandemic. The government’s early actions helped contain the spread of the virus and mitigate its economic impact, supported by financing from Rwanda’s development partners, including from the IMF under the RCF. With the number of infections contained, the authorities are gradually easing up containment measures.
Keywords:
ISCR; CR; IT system; assessment of a reform target; staff appraisal; real-time assessment; interest rate
Cover IMF Working Papers
Debt Is Not Free
Ms. Marialuz Moreno Badia
,
Mr. Paulo A Medas
,
Pranav Gupta
, and
Yuan Xiang
With public debt soaring across the world, a growing concern is whether current debt levels are a harbinger of fiscal crises, thereby restricting the policy space in a downturn. The empirical evidence to date is however inconclusive, and the true cost of debt may be overstated if interest rates remain low. To shed light into this debate, this paper re-examines the importance of public debt as a leading indicator of fiscal crises using machine learning techniques to account for complex interactions previously ignored in the literature. We find that public debt is the most important predictor of crises, showing strong non-linearities. Moreover, beyond certain debt levels, the likelihood of crises increases sharply regardless of the interest-growth differential. Our analysis also reveals that the interactions of public debt with inflation and external imbalances can be as important as debt levels. These results, while not necessarily implying causality, show governments should be wary of high public debt even when borrowing costs seem low.
Keywords:
WP; fiscal crisis; interest-growth differential; crisis threshold; crisis observation; probability of a crisis
Cover IMF Staff Country Reports
Qatar: 2012 Article IV Consultation
International Monetary Fund. Middle East and Central Asia Dept.
Qatar's economy is driven by high oil and natural gas prices and production, and remains strong with robust nonhydrocarbon growth. Its government has now shifted its focus to economic diversification and growth in nonhydrocarbon sectors through targeted infrastructure investments. The Executive Directors of the International Monetary Fund (IMF) noted the positive regional spillover effects of Qatar’s high growth, public spending, and increased financial assistance. The adoption of a three-year budget framework to help shield government spending from revenue volatility and enable better use of resources is welcomed.
Keywords:
ISCR; CR; implementation risk; government; government finance statistics; infrastructure investment program; liquidity forecasting framework; financing risk; consumer price inflation; Capital spending; Current spending; Oil prices; Global; Middle East; North Africa; East Africa
Cover IMF Staff Country Reports
Qatar: Staff Report for the 2011 Article IV Consultation
International Monetary Fund
This 2011 Article IV Consultation highlights that Qatar is using its fiscal space, generated from an increase in hydrocarbon production and prices, to implement a large public spending program. Large infrastructure investments are expected to sustain strong growth of 9 percent to 10 percent in the nonhydrocarbon sector in the medium term. The potential inflationary effect of the recent fiscal package is estimated to be about 1 percentage point. This underscores the need for fiscal policy to monitor aggregate demand and for the Qatar Central Bank to manage liquidity.
Keywords:
ISCR; CR; balance of payments; Qatar; balance of payments statistics; debt; headline inflation; real gross domestic product; financial asset; foreign currency; GDDS summary table II; manpower planning exercise; financial market; Qatari riyal; Commercial banks; Fiscal stance; Global; Middle East; North Africa; East Africa
Cover IMF Staff Country Reports
St. Vincent and the Grenadines: Request for Disbursement under the Rapid Credit Facility
International Monetary Fund
The Executive Board of the IMF on July 25, 2011, has approved a disbursement of an amount equivalent to SDR 1.245 million under the Rapid Credit Facility (RCF) for St. Vincent and the Grenadines to help the country meet the urgent balance-of-payments need caused by torrential rains, flooding, and landslides in April that caused extensive damage to infrastructure, agriculture, and housing. The RCF, which provides rapid financial assistance for low-income countries with an urgent balance-of-payments need, does not require any program-based conditionality or review.
Keywords:
ISCR; CR; debt; balance of payments difficulty; The RCF; present value; discussion of St. Vincent and the Grenadines; urgent balance of payments; debt service; exchange rate; Natural disasters; Public and publicly-guaranteed external debt; Fiscal stance; Caribbean; North America; Northern Europe; Global
Cover IMF Staff Country Reports
Qatar: 2010 Article IV Consultation-Staff Report; Staff Statement and Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Qatar
International Monetary Fund
Qatar has weathered the global economic crisis well. Enhancement of liquefied natural gas capacity (LNG), government support to the banking system, and increase in public spending sustain the high growth rates. There is a need to monitor aggregate demand to prevent the resurgence of inflation pressures. The creation of a financial stability unit and the results of recent stress tests show the banking system’s resilience to market and credit risks. The coordination among data providers and intention to seek technical assistance in consumer price index are noted.
Keywords:
ISCR; CR; headline CPI inflation; QCB shares staffs assessment; staff appraisal; headline inflation; Headline consumer price inflation; bank credit to the private sector; Commercial banks; Credit; Credit bureaus; Global
Cover IMF Staff Country Reports
Qatar: 2009 Article IV Consultation-Staff Report; and Public Information Notice
International Monetary Fund
The staff report for Qatar’s 2009 Article IV Consultation describes economic development and policies. The underlying strength of the economy derived from  Qatar’s hydrocarbon  revenues, and timely and decisive intervention by the government in the banking system has helped to limit the impact of the global crisis and maintain financial stability. A cornerstone  of Qatar’s strategy is  commitment to diversify the economy by building related industries around the full liquefied natural gas value-chain and linking upstream, midstream, and downstream components.
Keywords:
ISCR; CR; Qatar; government; debt; price; Qatari riyal; growth strategy; financial asset; growth performance; labor market survey; GDDS summary table II; exchange rate; Commercial banks; Balance of payments statistics; Debt service; Global; Middle East; North Africa; East Africa
Cover IMF Staff Country Reports
Qatar: 2008 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion;
International Monetary Fund
Qatar’s macroeconomic performance was strong in 2008, notwithstanding the global financial crisis. This 2008 Article IV Consultation discusses that overall real GDP growth is estimated at 16 percent in 2008, driven by expansions in the production of oil, liquefied natural gas, and condensates. Executive Directors have welcomed the authorities’ intention to moderate fiscal expansion and broaden the non-oil revenue base over the medium term. They have supported the emphasis on building capacity in infrastructure and easing supply bottlenecks while containing government current expenditure to reduce inflation.
Keywords:
ISCR; CR; oil price baseline assumption; surplus; rate; draft accord; real gross domestic product; rent inflation; Qatari riyal; Qatar's economy; exchange rate; Inflation; Oil prices; Commercial banks; Balance of payments statistics; Global
Cover IMF Staff Country Reports
Qatar: 2007 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Qatar
International Monetary Fund
Budget revenue in FY2006/07 amounted to 42 percent of GDP, with hydrocarbon revenue mirroring rising oil prices. The current account recorded a surplus of about 31 percent of GDP in 2006. Monetary conditions were characterized by ample liquidity and strong credit growth. Qatar’s medium-term (2008–12) outlook is favorable. As of June 2007, annualized inflation was estimated to have risen to 13 percent, compared with 12 percent during 2006. Designing a credible transition plan to implement the vision of a single financial market will be challenging.
Keywords:
ISCR; CR; WEO oil price; surplus; WEO baseline; projection; GDP; oil price increase; gas reserve; fund staff estimate; oil prices outlook; Oil prices; Oil; Inflation; Global
Cover IMF Working Papers
Sovereign Borrowing by Developing Countries: What Determines Market Access?
Mr. R. G Gelos
,
Mr. Guido M Sandleris
, and
Ms. Ratna Sahay
What determines the ability of governments from developing countries to access international credit markets? We examine this question using detailed data on sovereign bond issuances and public syndicated bank loans since 1982. We find that traditional measures of a country’s links with the rest of the world (such as trade openness) and traditional liquidity and macroeconomic indicators do not help much in explaining market access. However, a country’s vulnerability to shocks and the perceived quality of its policies and institutions appear to be important determinants of its government’s ability to tap the markets. We are unable to detect strong punishment of defaulting countries by credit markets.
Keywords:
WP; market access; market perception; GDP growth; trade openness; terms of trade; Sovereign debt; international capital markets; syndicated bank loans; bond markets; developing countries; Credit; Private capital flows; Bank credit; Personal income; Global