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Social Science > Poverty and Homelessness

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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 The Economic Impact of IMF-Supported Programs in Low-Income Countries
The Economic Impact of IMF-Supported Programs in Low-Income Countries
Yasemin Bal Gunduz
,
Mr. Christian H Ebeke
,
Ms. Burcu Hacibedel
,
Ms. Linda Kaltani
,
Ms. Vera V Kehayova
,
Mr. Chris Lane
,
Mr. Christian Mumssen
,
Miss Nkunde Mwase
, and
Mr. Joseph Thornton

Abstract

This paper aims to assess the economic impact of the IMF’s support through its facilities for low-income countries. It relies on two complementary econometric analyses: the first investigates the longer-term impact of IMF engagement—primarily through successive medium-term programs under the Extended Credit Facility and its predecessors (and more recently the Policy Support Instrument)—on economic growth and a range of other indicators and socioeconomic outcomes; the second focuses on the role of IMF shock-related financing—through augmentations of Extended Credit Facility arrangements and short-term and emergency financing instruments—on short-term macroeconomic performance.

Keywords:
OP; IMF staff calculation; IMF engagement; IMF dummy; IMF support; IMF arrangement; Balance of payments need; Debt relief; Poverty reduction; Poverty reduction strategy; Current account balance; Global; Sub-Saharan Africa; IMF program support; IMF program engagement; program engagement
Cover IMF Staff Country Reports
Colombia: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Colombia
International Monetary Fund
The Colombian economy proved resilient to the global financial crisis, and a solid recovery is under way. The pace of monetary tightening envisaged strikes the right balance between restraining credit growth and mitigating incentives for further capital inflows. A sudden acceleration of domestic demand places an additional burden on monetary policy. Colombia’s financial sector oversight is solid, and plans to strengthen cross-border and consolidated supervision are commended. Steep taxation of labor and a relatively high minimum wage are significant hindrances to competitiveness. Colombia’s exchange restrictions remain unchanged.
Keywords:
ISCR; CR; inflation expectation; government; deficit; GDP; Colombian authorities; labor market informality; inflation pressure; exchange regime; Public sector; Energy subsidies; Global
Cover IMF Staff Country Reports
Central African Republic: Poverty Reduction Strategy Paper: Preparation Status Report: Joint Staff Advisory Note
International Monetary Fund
The status report on the Poverty Reduction Strategy Paper (PRSP) of the Central African Republic showed substantial progress. IMF staff welcomed peace and security consolidation and strong macroeconomic framework under the economic program. They emphasized the need for strengthening the linkages between some of the sectoral and national strategies. They stressed the need for a strategy for monitoring and evaluation of the system, and financing to implement the strategy. They concur that success of the PRSP will be a challenge amidst security issues and financial constraints.
Keywords:
ISCR; CR; Poverty ReductionStrategy Paper; preparation progress status report; constraint; objectives inthe PRSP; draft PRSP; preparation process; poverty reduction strategy paper; Poverty reduction strategy; Capacity utilization; Macro-fiscal framework; Concessional external borrowing
Cover IMF Staff Country Reports
Republic of Armenia: Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver of Performance Criterion: Staff Report; and Press Release on the Executive Board Consideration
International Monetary Fund
This paper discusses key findings of the Fourth Review Under the Poverty Reduction and Growth Facility for Armenia. Armenia’s economy performs strongly. All end-December 2006 quantitative and all but one structural performance criteria were observed. The main policy challenges are to broaden economic growth, raise tax revenues, and manage large foreign exchange inflows. Fiscal policy remains appropriate. Meeting the ambitious 2007 revenue target will require broadening the tax base and strengthening administration. The stance of monetary policy is appropriate.
Keywords:
ISCR; CR; PRGF loan; PRGF arrangement; PRGF-supported program; government plan; government finance statistics yearbook; Monetary base; Exchange rates; Eastern Europe; Global
Cover IMF Staff Country Reports
Cambodia: Selected Issues and Statistical Appendix
International Monetary Fund
The Selected Issues paper discusses Cambodia’s poverty and growth, private sector development, public financial management reform, and debt sustainability. It summarizes the Poverty Assessment and describes the regime of tax incentives, costs, and limits for private investment. It also summarizes the assessment of Cambodia’s Public Expenditure Management system and Public Financial Management Reform Program. It highlights the key reform priorities, and provides historical background on Cambodia’s external and domestic debt. It also includes a statistical appendix and a summary of the tax system.
Keywords:
ISCR; CR; Cambodia; poverty incidence; debt; government; poverty estimate; poverty reduction; investment incentive; poverty assessment; public expenditure management system; further poverty reduction; Tax holidays; Tax incentives; Southeast Asia; Eastern Europe; Asia and Pacific; Mekong; Europe
Cover IMF Staff Country Reports
Republic of Armenia: Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver of Performance Criterion
International Monetary Fund
The staff report for the Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility focuses on the Republic of Armenia’s economic environment and policy discussion. Financial sector reforms will focus on improving corporate governance, strengthening regulation and supervision, and deepening financial intermediation. Price developments should be monitored closely and monetary policy tightened further should inflation pressures increase. The authorities’ plan to subsidize the local gas supplier to limit gas tariff increases for end-users is cause for concern.
Keywords:
ISCR; CR; PRGF loan; PRGF arrangement; PRGF-supported program; SDR; banking system; poverty rate; Monetary base; Exchange rates; Global
Cover IMF Staff Country Reports
Nepal: 2005 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Nepal
International Monetary Fund
This 2005 Article IV Consultation highlights that Nepal’s economic growth has been affected by the political turmoil and conflict, although inflation has remained moderate, and international reserves are adequate. Real GDP growth averaged 2 percent during 2000/01–2004/05, compared with the 1990s when growth in agricultural productivity and significant trade liberalization contributed to average real GDP growth of 5 percent. Inflation has remained in the low single digits, although it rose to 7¾ percent in mid-October 2005. The overall and domestically financed deficits remained limited in 2004/05.
Keywords:
ISCR; CR; government; arrears; spending; exchange rate; broad money; private sector; Nepalese authorities; authorities request; implementation strategy; Budget planning and preparation; South Asia; Global; East Asia; Asia and Pacific