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Africa > Uganda

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Cover IMF Survey
Successful first year in EU for Poland, but growth impediments remain
International Monetary Fund. External Relations Dept.

Poland’s economy expanded by 5.4 percent in 2004, although the growth surge in the run-up to European Union (EU) accession dissipated in the second half of the year, the IMF said in its annual economic review. Slowdowns in both domestic and net external demand contributed to the slowdown, although export demand had picked up again by end-2004. This recovery in export growth was especially impressive given weaker demand in western Europe and the zloty’s appreciation during the second half of the year. The IMF credited policymakers with successfully coping with EU accession-related price and demand shocks, but noted that domestic demand remained flat into the first quarter of 2005—largely because of declines in highly import-intensive investment and inventories.

Keywords:
SV; SDR interest rate; IMF forum; IMF's website; export demand; run-up to European Union; stalled growth momentum; Unemployment rate; Western Europe
Cover IMF Working Papers
Evidenceon the Fiscal and Macroeconomic Impact of Privatization
Mr. Steven A Barnett
This paper empirically investigates the relationship between privatization and measures of fiscal and macroeconomic performance. One of the main findings is that privatization proceeds transferred to the budget tend to be saved. Specifically, they are largely used to reduce domestic financing, with little evidence that they are used to finance a larger deficit. However, by construction, this part of the study is restricted to privatization proceeds transferred to the budget, leaving open the question of what happens to those proceeds not transferred to the budget. The other main finding is that total privatization (as opposed to just the proceeds transferred to the budget) is correlated with an improvement in macroeconomic performance as manifested in higher real GDP growth and lower unemployment. However, this result needs to be interpreted cautiously as the evidence is not sufficient to establish causality.
Keywords:
WP; privatization proceeds; proceeds; privatization; viewing privatization; privatization coefficient; privatization process; privatization yield result; Budget planning and preparation; Unemployment; Unemployment rate
Cover Finance & Development
Finance & Development, March 1972
International Monetary Fund. External Relations Dept.
This paper discusses the role of the IMF in financial stability and planning in world trade. The paper highlights that the IMF was set up to assist in the maintenance of an international monetary system that is conducive to the expansion of international trade. To this end, the IMF was provided with both a regulatory and financial role. In the execution of these functions, the IMF has gradually evolved as a center for international financial cooperation and a source of advice and technical assistance to its members.
Keywords:
FD; F&D; country; cooperative; tariff; world price; volumes XV; business saving; savings institution; government savings; Credit; Tariffs; Currencies; Exchange rates; East Africa; Africa; West Africa; Europe; Asia and Pacific; Southeast Asia; North America; Western Europe; South Asia