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Social Science > Poverty and Homelessness

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Cover Technical Assistance Reports
Costa Rica: Technical Assistance Report-Universal Basic Pension: Objectives and Constraints
International Monetary Fund. Fiscal Affairs Dept.
At the request of the Ministry of Finance, a mission from the International Monetary Fund visited San Jose. The purpose of the mission was to assess the proposal to a universal basic pension and to estimate its fiscal and welfare impact on the budget, on pension schemes, and on old age income poverty. Costa Rica is entering a demographic transition which will see the old age dependency ratios significantly worsen in the coming 20 years. The long-term financial sustainability of the general social security pension scheme (IVM) is a concern, despite various reforms introduced over the past three decades and the scheme’s reserves are expected to be exhausted by the mid-2030s. The government’s proposal intends to address financial sustainability, the adequacy of coverage and of benefit levels, as well as distributional equity through the introduction of a universal basic pension. The IMF team’s assessment is that the proposal is unlikely to fully meet its stated objectives. The proposal will worsen social security pension scheme’s financial sustainability and create additional financing needs. This will translate into an accelerated exhaustion of IVM reserves and, after the reserves are depleted, require significant adjustments to IVM parameters or higher government transfers. Old age income security may be more effectively addressed, with less pronounced fiscal side-effects, through improving coverage and compliance in IVM and expanding the reach of the social pension scheme. The primary instruments of achieving these goals are: (a) amending the rules undermining compliance with registration and wage reporting regulations in the contributory schemes, (b) improving coordination between tax and contribution collection agencies, (c) amending the regulations governing eligibility for noncontributory social pensions and (d) ensuring the noncontributory social pension is adequately financed.
Keywords:
resident representative; IMF executive director; IMF Proposal; Asociación Costarricense; PBU replacement; Pensions; Pension spending; Aging; Income; Central America
Cover Regional Economic Outlook, October 2020, Western Hemisphere
Regional Economic Outlook, October 2020, Western Hemisphere
Pandemic Persistence Clouds the Recovery
International Monetary Fund. Western Hemisphere Dept.

Abstract

The pandemic continues to spread in Latin America and the Caribbean (LAC), but economic activity is picking up. After a deep contraction in April, activity started recovering in May, as lockdowns were gradually eased, consumers and firms adapted to social distancing, some countries introduced sizable policy support, and global activity strengthened.

Keywords:
pandemic; lockdowns; recovery; reopening; public health; REO; IMF staff calculation; nominal GDP; trading partner; world bank LAC estimate; hard currency; potential GDP
Cover Regional Economic Outlook, October 2020, Western Hemisphere
Regional Economic Outlook, October 2020, Western Hemisphere
Pandemic Persistence Clouds the Recovery
International Monetary Fund. Western Hemisphere Dept.

Abstract

The pandemic continues to spread in Latin America and the Caribbean (LAC), but economic activity is picking up. After a deep contraction in April, activity started recovering in May, as lockdowns were gradually eased, consumers and firms adapted to social distancing, some countries introduced sizable policy support, and global activity strengthened.

Keywords:
pandemic; lockdowns; recovery; reopening; public health; REO; IMF staff calculation; nominal GDP; trading partner; world bank LAC estimate; hard currency; potential GDP
Cover Regional Economic Outlook, October 2020, Western Hemisphere
Regional Economic Outlook, October 2020, Western Hemisphere
Pandemic Persistence Clouds the Recovery
International Monetary Fund. Western Hemisphere Dept.

Abstract

The pandemic continues to spread in Latin America and the Caribbean (LAC), but economic activity is picking up. After a deep contraction in April, activity started recovering in May, as lockdowns were gradually eased, consumers and firms adapted to social distancing, some countries introduced sizable policy support, and global activity strengthened.

Keywords:
pandemic; lockdowns; recovery; reopening; public health; REO; IMF staff calculation; nominal GDP; trading partner; world bank LAC estimate; hard currency; potential GDP; banking sector; fiscal policy; COVID-19; Debt restructuring; Securities markets; Caribbean; Global; Central America
Cover IMF Staff Country Reports
Honduras: Poverty Reduction Strategy Paper Progress Report
International Monetary Fund
This report highlights progress made in implementing the Honduran Poverty Reduction Strategy (PRS) from the time of its approval by the Government of Honduras in August 2001 to the present. The report monitors the economic and social programs that were defined in the original document and which were revised following consultation with civil society in the First Progress Report and Update of the PRSP. The report discusses that Honduras has thus far achieved approximately 18 percent of the improvement on the PRSP indicators that will be needed to reach to the goals set for 2015.
Keywords:
ISCR; CR; real GDP; debt service; financial system; central bank; poverty spending; PRSP goal; debt relief; exchange rate; foreign exchange; Poverty reduction; Debt relief; Global; Central America
Cover IMF Working Papers
Expenditure Issues and Governance in Central America
Ms. Ana Corbacho
and
Mr. Hamid R Davoodi
This paper analyzes Central America's track record on inequality, poverty, and quality of fiscal adjustment in relation to economic growth; health and education outcomes; adequacy of social safety nets; and governance. It then assesses the degree to which the track record can be traced to reforms in public expenditure and governance. Despite the considerable heterogeneity among the countries in the region, there are some policies that all countries need to pursue. Sustained growth and a better quality of fiscal adjustment are needed, as well as policies aimed at increasing individuals' productivity and improving governance.
Keywords:
WP; public spending; wage; government; Honduras; Expenditure issues; fiscal adjustment; poverty; inequality; health; education; social safety nets; governance; Central America; teacher wage; government education spending; wage bill; teacher certification test; per capita income; Central American country; growth track record; capital investment; teachers' wage; teacher quality; management system; lagging country; Income inequality; Health care spending; Sub-Saharan Africa; South Asia; East Asia
Cover Can the Poor Influence Policy? Participatory Poverty Assessments in the Developing World
Can the Poor Influence Policy? Participatory Poverty Assessments in the Developing World
Ms. Caroline M Kende-Robb

Abstract

The second edition of this book outline show to include the poor using the Participatory Poverty Assessment (PPA) method. This method was developed by the World Bank in partnerships with NGOs, governments, and academic institutions, and has been implemented in over 60 countries worldwide duringthe last decade. This book also draws on new PPA case examples. Joint publication with the World Bank.

Keywords:
BOOK; poverty assessment; policy; government; country; poverty analysis; research team; PPA result; government poverty agency; PPA impact; Poverty reduction; Poverty reduction strategy; Poverty reduction and development; Budget planning and preparation; Africa; Eastern Europe; East Asia