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Social Science > Poverty and Homelessness

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Cover IMF Staff Country Reports
Somalia: Poverty Reduction Strategy Paper-Joint Staff Advisory Note
International Monetary Fund. Middle East and Central Asia Dept.
This Joint Staff Advisory Note on the Poverty Reduction Strategy Paper discusses that Somalia has made noteworthy progress since 2012 to recover from decades of conflict and state fragmentation. The country has succeeded in rebuilding core state capabilities and organized two democratic national elections in 2012 and 2017. Somalia has now reached the stage where it seeks to fully reengage the international community and is requesting debt relief through the heavily indebted poor countries initiative. The authorities developed the Ninth National Development Plan (NPD9) through a highly consultative, participatory process that ensured full country ownership. The macroeconomic policy objectives of NDP9 are to promote economic growth in an environment of low inflation, sustainable fiscal and current account balances, and healthy foreign exchange reserves. The IMF staff recommends updating framework to incorporate greater support for poverty reduction and additional financing from development partners during the interim period. The IMF staff supports the authorities’ commitment to issuing new Somali shilling banknotes, while maintaining de facto dollarization.
Keywords:
ISCR; CR; NDP9; government; NDP topic; connections to the RRF; Somali government; debt management; core government function; government structure; private sector; Budget planning and preparation; Poverty reduction strategy; Fiscal governance; Africa; East Africa; Global
Cover Regional Economic Outlook, April 2018, Western Hemisphere Department
Regional Economic Outlook, April 2018, Western Hemisphere Department
Seizing the Momentum
International Monetary Fund. Western Hemisphere Dept.

Abstract

The world economy and global trade are experiencing a broad-based cyclical upswing. Since October 2017, global growth outcomes and the outlook for 2018–19 have improved across all regions, reinforced by the expected positive near-term spillovers from tax policy changes in the United States. Accommodative global financial conditions, despite some tightening and market volatility in early February 2018, have been providing support to economic recovery. Higher commodity prices are contributing to an improved outlook for commodity exporters. The US and Canadian economies posted solid gains in 2017 and are expected to grow above potential in the near term. Despite the improved near-term outlook, however, medium-term prospects are tilted downwards. Growth prospects for advanced economies are subdued and many emerging market and developing economies are projected to grow in per capita terms more slowly than advanced economies, raising concerns about income convergence. While risks appear broadly balanced in the near term, they skew to the downside over the medium term, including a possible sharp tightening of financial conditions, waning popular support for global economic integration, growing trade tensions and risks of a shift toward protectionist policies, and geopolitical strains.

Keywords:
REO; country abbreviation; commodity exporter; commodity; tourism dependent; IMF staff calculation; commodity price; Fiscal consolidation; Inflation; Income inequality; Caribbean; Global; Central America; South America; Western Hemisphere; inflation expectation; nominal GDP; central bank credibility; headline inflation
Cover IMF Staff Country Reports
Panama: Selected Issues
International Monetary Fund. Western Hemisphere Dept.
This Selected Issues paper assesses the effectiveness of Panama's fiscal framework. The fiscal framework of Panama has played an important role in enhancing fiscal discipline since its establishment in 2009. Since the current fiscal framework went into effect in 2009, the primary balance and debt-to-GDP ratio of the nonfinancial public sector have improved significantly on average compared with those in 2000–08. The fiscal impulse given the output gap also shows that fiscal policy was less procyclical in 2009–15 than in 2001–08. However, there are options to better align the framework with best practice, including reducing unintended procyclicality, increasing transparency, and improving accountability.
Keywords:
ISCR; CR; Panama; bank; liquidity; poverty rate; income; transportation cost; growth performance; deficit ceiling; banking center; shipping industry; Offshore financial centers; Liquidity requirements; Fiscal governance; Global; Caribbean; Europe
Cover IMF Staff Country Reports
Democratic Republic of São Tomé and Príncipe: Poverty Reduction Strategy Paper-Joint Staff Advisory Note
International Monetary Fund. African Dept.
This Joint Staff Advisory Note discusses the Poverty Reduction Strategy Paper (PRSP) for the Democratic Republic of São Tomé and Príncipe. The PRSP-II is the successor to the government’s previous development strategy, the PRSP-I, and furthers the country’s commitment to promoting sustainable poverty reduction through broad-based growth. Overall, the PRSP-II presents a coherent analysis and offers an appropriate policy framework for long-term poverty reduction and sustainable economic growth. The PRSP-II builds on the experience in a number of areas, promoting economic diversification and laying out a set of ambitious but attainable development goals. IMF Staff recommends further work on several critical areas in which the PRSP-II could be strengthened.
Keywords:
ISCR; CR; government; PRSP-I; PRSP; policy; government institution; growth strategy; government service; PRSP-I policy; evaluation of the PRSP-I; macroeconomic framework; government's decision; Poverty reduction strategy; Poverty reduction; Poverty reduction and development; Macro-fiscal framework; Global
Cover IMF Staff Country Reports
Republic of Moldova: Poverty Reduction Strategy Paper-Joint Staff Advisory Note
International Monetary Fund. European Dept.
This Joint Staff Advisory Note focuses on Republic Of Moldova’s Poverty Reduction Strategy Paper and National Development Strategy (NDS). The NDS unifies in one document the government’s poverty reduction strategy and development vision. The NDS argues that Moldova needs to add productivity-enhancing investment and exports as growth drivers to its traditional consumption-based growth model. The strong pace of growth observed in the mid-2000s was driven by domestic consumption fuelled by remittances. The NDS calls for a shift from the current consumption-based growth model toward one based on raising investments, increasing productivity and competitiveness, developing export industries, and promoting a knowledge-based society.
Keywords:
ISCR; CR; NDS goal; NDS financing; governance; GDP; reform; goals of the NDS; implementation of NDS; reform program; text of the NDS; government of Moldova; Labor markets; Poverty reduction strategy; Fiscal sustainability; Europe; Central Asia
Cover IMF Staff Country Reports
Peru: Selected Issues Paper
International Monetary Fund
Peru’s fiscal framework embedded in the Fiscal Responsibility and Transparency Law (FRTL) has proved to be effective in reducing debt. The FRTL embodies some countercyclical elements in response to output or commodity price shocks. The combination of a provision for a moderate deficit on the downside, and a current expenditure cap on the upside, allows for some countercyclical policy. It still has pockets of procyclicality in the face of large shocks to output or commodity prices.
Keywords:
ISCR; CR; Peru; commodity price; GDP; central bank; poverty reduction; BoE executive; financial system; comparative advantage; trend output; Financial sector stability; Macroprudential policy; Fiscal stance; Commodity prices; Global; Africa; Caribbean
Cover IMF Working Papers
Ghana: Will it Be Gifted or Will it Be Cursed?
Burcu Aydin
Will Ghana’s oil production from 2011 accelerate progress toward middle-income status, or will it retard gains in living standards through a possible "resource curse"? This paper examines the likelihood of "resource curse" effects, drawing on a dataset of 150 low and middle income countries from 1973 to 2008 using static and dynamic panel estimation techniques. Results confirm that resource rich countries in Ghana’s income range do experience slower growth than their more diversified peers, an effect that appears to be related to weaker governance. Provided that Ghana can preserve and improve its economic governance and also strengthen fiscal management, prospects look good for converting its oil wealth into sustained strong economic growth.
Keywords:
WP; poverty trap; Ghana; growth; resource-rich; panel data; coefficient estimate; resource curse; oil wealth; per capita income; panel estimation method; Natural resources; Personal income; Terms of trade; Fiscal stance; Global; Middle East; Africa
Cover IMF Staff Country Reports
Tchad: Document de stratégie pour la réduction de la pauvreté – note consultative conjointe
International Monetary Fund
Depuis plusieurs années, le FMI publie un nombre croissant de rapports et autres documents couvrant l'évolution et les tendances économiques et financières dans les pays membres. Chaque rapport, rédigé par une équipe des services du FMI à la suite d'entretiens avec des représentants des autorités, est publié avec l'accord du pays concerné.
Keywords:
ISCR; CR; SNRP II; SNRP; government; Chad; government activity
Cover IMF Staff Country Reports
Chad: Poverty Reduction Strategy Paper Joint Staff Advisory Note
International Monetary Fund
Implementation of Chad’s first National Poverty Reduction Strategy was undermined by persistent internal conflict, weak governance, and lack of commitment to and ownership of economic and social reforms. The focus now is on the restoration of security, the improvement of governance, the diversification of the economy, and the promotion of human development. The government has to be mindful of the risks to this strategy. Executive Directors propose that the government should shift away from past patterns and demonstrate commitment to poverty reduction and good governance.
Keywords:
ISCR; CR; SNRP II; SNRP; government; Chad; government activity; A. poverty diagnostic; government deposit; II requirement; government control; government commitment; government payment; SNRP II's emphasis; commercial loan; II agenda; Oil; gas and mining taxes; Sub-Saharan Africa
Cover IMF Staff Country Reports
Peru: Selected Issues
International Monetary Fund
This Selected Issues paper for Peru shows that during the years of strong growth and high commodity prices, the Peruvian authorities have conducted a prudent fiscal policy, maintaining a broadly neutral fiscal stance. During 2004–08, while the revenue-to-GDP ratio increased 3.7 percentage points, the expenditure ratio rose only 0.9 percentage points. Expenditure control focused on current spending and coincided with increasing government investment aimed at enhancing public access to infrastructure and social services. Fiscal policy has also outperformed budgets approved by congress, owing to higher-than-anticipated revenue, as well as the need to limit inflation pressures.
Keywords:
ISCR; CR; intervention; exchange rate; Peru; intervention function; net-short term position; commodity output; foreign exchange intervention; reserve buffer; revenue capacity; Credit; Exchange rates; Fiscal stance; Currencies; Global