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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 Selected Issues Papers
Macroeconomic and Distributional Implications of Gender Gaps: The Gambia
Mamadou D Barry
,
Momodou Jallow
,
Glen Kwende
, and
Vivian Malta
We present the current status of labor market gender gaps in The Gambia and examine the macroeconomic and distributional gains from closing the gaps. We also study the impacts of high costs of living and the determinants of poverty. Closing labor market gender gaps, would significantly boost GDP, government revenues, women’s earnings, and reduce income inequality. High food costs adversely affect the levels of consumption in the bottom four quartiles of the income distribution. Lack of access to finance, living in rural areas, lack of employment, low levels of education, and exposure to climate shocks contribute to higher poverty levels.
Keywords:
Inflation; monetary policy rate; oil prices; food prices; fertilizer prices; exchange rates; labor market gender gaps; determinants of poverty; cost of food; women employment status; gender equality outcome; per-capita household consumption; Women; Gender inequality; Gender diversity; Consumption; Sub-Saharan Africa; Africa; Global
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 (JSAN) on the Poverty Reduction Strategy Paper for Somalia highlights that Somalia continued to face challenges while implementing the Ninth National Development Plan in 2021 and 2022. Since 2020, the country has been struggling with the ongoing impacts of a desert locust infestation, persistent drought, the coronavirus disease 2019 pandemic and global food and fuel price increases due to Russia’s invasion of Ukraine. All of these shocks compounded the hardships of the population, including food insecurity. The number of people facing food insecurity due to the drought rose from 3.2 million in January 2022 to5.6 million by end-2022. Parliamentary and Presidential elections that were supposed to commence by end-2020 were not completed until in May 2022, also affecting the timing of external grant disbursements. The mid-term review report addresses concerns raised in staffs’ previous JSAN on Enhanced Heavily Indebted Poor Countries (HIPC) Completion Point, climate change, and revenue mobilization. In terms of progress toward the HIPC Completion Point, as of September 2023 the government has completed 13 of 14 Completion Point triggers.
Keywords:
member country's Poverty Reduction Strategy Paper; Poverty Reduction Strategy Paper to the executive boards; copyright page; objective of the JSAN; government program; Poverty reduction strategy; Global
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 (JSAN) reviews the first Annual Progress Report (APR) on Somalia’s Ninth National Development Plan (NDP9). NDP9 is a nationally owned and comprehensive strategy for poverty reduction and inclusive growth. It covers 2020–2024 and is organized around the four pillars: Inclusive Politics, Security and the Rule of Law, Economic Development and Social Development. Somalia began implementing NDP9 at a time of profound challenges posed by the ‘triple crises’ of locust infestations, a global pandemic, and floods. An outbreak of desert locusts started in 2019 that threatened the food supply across the Horn of Africa. In 2020, the world was hit by the coronavirus disease 2019 pandemic. The IMF Staff concur with the APR’s assessment that important progress has been made on implementation of the NPD9, despite challenges from the triple shocks faced by Somalia in 2020. Notwithstanding the multiple shocks, the Somali authorities preserved macroeconomic stability and maintained the reform momentum, strengthening domestic revenue mobilization, public financial management, financial sector regulation and supervision, statistics and governance.
Keywords:
objective of the JSAN; copyright page; advisory note; feedback to the country; cash transfer program; Poverty reduction strategy; Budget planning and preparation; Global
Cover Selected Issues Papers
Options to Strengthen the Social Safety Net in Japan: Japan
Zhiyong An
and
Kohei Asao
Japan’s unemployment rate remains relatively low compared to other OECD countries. However, Japan’s poverty rate among the working-age population is one of the higher ones among OECD countries. The public assistance program in Japan does not provide adequate income support for the working poor and creates inherent work disincentives. In this context, the Earned Income Tax Credit (EITC) warrants consideration to strengthen the social safety net and relieve poverty of the working poor in Japan. This paper provides an overview of the theoretical and practical issues of EITC, aiming to support its potential introduction in Japan.
Keywords:
Social safety net; working poor; inequality; public assistance; in-work benefits; Earned Income Tax Credit (EITC); Japan; program in Japan; public assistance program; Japan's poverty rate; Japan's unemployment rate; EITC program; Income; Wages; Employment; Social assistance spending; Income tax systems
Cover IMF Staff Country Reports
Republic of Congo: Poverty Reduction and Growth Strategy
International Monetary Fund. African Dept.
This paper on Republic of Congo focuses on poverty reduction and growth strategy. The diagnostic analysis of the socio-economic situation shows that the Congo still faces many challenges. It is recommended to strengthen the quality, capacities, and efficiency of the system, and manage human resources rationally and efficiently in all their components. Focus the national development plan’s (NDP) actions on the economy to make it stronger, and thus give the State more consistent means of action to meet the main national challenges. The implementation of the six strategic pillars of the NDP mentioned above should enable the State to have the necessary resources for the development of education, health, social protection, and basic social services infrastructure. The impact of this involvement is based on a correlation between the expected effects on the social dividend and the actual achievement of the targets for each Sustainable Development Goal.
Keywords:
poverty rate; NDP financing plan; NDP scenario; NDP project; NDP objective; Infrastructure; Global; Central Africa; Africa; Sub-Saharan Africa
Cover Selected Issues Papers
The Efficiency of Social Spending in Niger: Niger
Jean-Marc B. Atsebi
and
Mrs. Paola Ganum
Despite some progress, poverty remains elevated and education and health outcomes are lagging. This paper finds evidence of inefficiencies in education, health, and social protection spending in Niger. Programs are typically not well-targeted, some are regressive, and there are significant coverage gaps. Improving the living standards of the Nigerien as well as education and health systems, a priority of the government, would require not only scaling up social spending but also strenghtening social protection programs through better targeting, supporting girls’ education, and moving away from general subsidies. Moreover, social assistance should focus more on enhancing productivity and resilience to shocks.
Keywords:
Social Spending; Efficiency; Education; Health; Social Protection; Niger; health outcome; health system; copyright page; SPL program; Education spending; Sub-Saharan Africa
Cover IMF Staff Country Reports
Romania: Selected Issues
International Monetary Fund. European Dept.
Selected Issues
Keywords:
assessment of the size; Consumer Goods import; Policy recommendation; regional disparity; policy recommendation; Current account; Current account deficits; Current account balance; External balance assessment (EBA); Western Europe; Global
Cover IMF Staff Country Reports
Sudan: Poverty Reduction Strategy Paper-Joint Staff Advisory Note
International Monetary Fund. Middle East and Central Asia Dept.
This Joint Staff Advisory Note (JSAN) reviews the Sudan Poverty Reduction Strategy Paper (PRSP) for the period 2021–2023. The PRSP was prepared by the Government of Sudan, drawing on lessons learned from the implementation of the 2012 interim poverty reduction strategy paper (I-PRSP).1 The PRSP was approved by the Council of Ministers on May 11, 2021. The government submitted the PRSP to IDA and the IMF on May 12, 2021 to fulfill the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative’s poverty reduction strategy requirement.
Keywords:
member country's Poverty Reduction Strategy Paper; copyright page; objective of the JSAN; advisory note; government ministry; Poverty reduction strategy; Poverty reduction; Poverty reduction and development; Africa; Global
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