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Botswana 2014 Article Iv Consultation Staff Report And Press Release

Botswana  2014 Article IV Consultation Staff Report  and Press Release PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1498315933
Size: 63.28 MB
Format: PDF, ePub
Category : Business & Economics
Languages : en
Pages : 54
View: 1874

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KEY ISSUES Setting: The seeds of good governance and prudent macroeconomic and natural resources management planted by the Botswana authorities paid off with an impressive increase in the GDP per capita during the last three decades. However, as in many other small middle-income countries (SMICs) in the region, trend growth has softened in recent years, reflecting the decline in the contribution of total factor productivity (TFP) to growth which calls for policies to reduce structural bottlenecks in the economy. Current conditions and outlook: Botswana’s economy remains broadly internally and externally balanced and the authorities’ near-term macroeconomic policy mix is appropriate. Output growth is expected to slowdown in 2014 reflecting partly weaknesses in the non-mineral sector, while inflation is expected to remain within the Bank of Botswana’s (BoB) medium-term objective range of 3-6 percent. Fiscal policy: Staff supports the FY2014/15 budget, which reins in unproductive current spending, while protecting growth-promoting capital spending. Achieving medium-term fiscal consolidation objectives adopted in the budget, would require articulating concrete measures to reduce the wage bill relative to GDP and broaden the revenue base. Financial sector development: Botswana’s banking system is well-capitalized and profitable with relatively low nonperforming loans. Although from a low base, credit growth to households continues to expand at a high rate, which poses potential vulnerabilities for the financial sector. Thus, staff recommends that macro prudential measures be considered to temper the rate of growth of household borrowing. In this context, staff welcomes the government’s emphasis on enhancing greater financial deepening and inclusion, while preserving the stability of the financial system. Reinvigorating growth: Returning to an era of strong growth and accelerating Botswana’s convergence to higher income levels would require policies to reinvigorate TFP growth. These include improving the quality of public spending, notably in public investment projects and education to ensure the transformation of diamond wealth into sustainable assets. The authorities’ efforts to improve the country’s competitiveness, including through reducing the regulatory burden on firms, is also welcomed. Past advice: There is broad agreement between the Fund and the authorities on the macroeconomic policy stance and structural reform policy priorities. Consistent with staff’s advice, the FY 2014/15 budget outlined a framework to reduce the burden of loss- making state-owned enterprises on fiscal resources and propel them toward commercial viability. Furthermore, the budget includes medium-term projections of government accounts, as recommended by staff during past consultations. However, progress towards reducing the wage bill relative to GDP remains modest.

Small States

Small States PDF
Author: Commonwealth Secretariat
Publisher:
ISBN: 9781849291439
Size: 12.76 MB
Format: PDF, Mobi
Category : States, Small
Languages : en
Pages : 126
View: 6205

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This annual collection of key economic and statistical data is essential reading for economists, planners and policy-makers working on issues of concern to small states. This volume covers overseas development assistance and Post-2015 financing for development in small states; and contains 17 tables covering development indicators.

International Monetary Fund Annual Report 2014

International Monetary Fund Annual Report 2014 PDF
Author: International Monetary Fund. Secretary's Department
Publisher: International Monetary Fund
ISBN: 1498303145
Size: 12.35 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 90
View: 1008

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Seven years after the onset of the global financial crisis, the world still has a way to go to secure a sustainable recovery marked by strong growth that supports rapid job creation and benefits all, International Monetary Fund (IMF) Managing Director Christine Lagarde says in her foreword to the institution’s Annual Report 2014—From Stabilization to Sustainable Growth, published today. “The recovery is ongoing, but it is still too slow and fragile, subject to the vagaries of financial sentiment. Millions of people are still looking for work. The level of uncertainty might be diminishing, but it is certainly not disappearing.” Ms. Lagarde said that “throughout the crisis and in the recovery period, the IMF has been, and continues to be, an indispensible agent of economic cooperation” for its membership. The report covers the work of the IMF’s Executive Board and contains financial statements for the year May 1, 2013, to April 30, 2014. It describes the IMF’s support for its 188 member countries, with an emphasis on the core areas of IMF responsibility: assessing their economic and financial policies, providing financing where needed, and building capacity in key areas of economic policy.

International Monetary Fund Annual Report 2019

International Monetary Fund Annual Report 2019 PDF
Author: International Monetary Fund. Secretary's Department
Publisher: International Monetary Fund
ISBN: 1513516337
Size: 60.67 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages :
View: 7084

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International Monetary Fund Annual Report 2019.

Sharing Resource Wealth Inclusively Within And Across Generations

Sharing Resource Wealth Inclusively Within and Across Generations PDF
Author: Nathalie Pouokam
Publisher: International Monetary Fund
ISBN: 1513582429
Size: 22.64 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 36
View: 2604

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This paper discusses the main challenges faced by resource-rich nations in promoting equity; describes policy tools available for managing exhaustible natural resources; and analyzes the relationship between resource wealth and state fragility. It is argued that human capital accumulation, innovation, and technology diffusion can help escape the trap of low growth and resource dependence that plagues so many developing countries. But to make this possible, resource-rich nations must sustain strong citizen participation in the policy making to hold governments accountable and ensure the inclusive management of resource wealth.

Zimbabwe

Zimbabwe PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1475568231
Size: 36.79 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : en
Pages : 98
View: 4983

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This paper discusses recent developments, outlook, and risks related to the economy of Zimbabwe. Zimbabwe’s economic difficulties have deepened. GDP growth slowed significantly to 1.1 percent in 2015, mainly because of the impact of adverse weather conditions on agricultural output, and power generation. The current account balance improved in 2015, because of lower prices for oil imports, subdued economic activity, and fiscal consolidation efforts. Fiscal performance in 2015 was better than programmed, despite the adverse macroeconomic environment. Despite spending pressures to mitigate the impact of the drought, the authorities remain committed to fiscal discipline; they target a primary cash deficit of 0.2 percent of GDP for 2016.

Cameroon

Cameroon PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1513521195
Size: 40.88 MB
Format: PDF, ePub
Category : Business & Economics
Languages : en
Pages : 79
View: 1941

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This 2015 Article IV Consultation highlights that Cameroon’s economy has shown resilience in the face of the twin shocks of the oil price slump and heightened security threats, with the robust growth of 2014 continuing into 2015. Growth is broad-based and projected to reach 5.9 percent in 2015, buoyed by increased oil production and the performance of sectors benefiting from the ongoing public investment boom. Total revenue is projected to increase in 2015, owing to a strong performance in non-oil revenue. Growth is projected to moderate to 5.2 percent in 2016, as oil production stabilizes.

Minerals Yearbook

Minerals Yearbook PDF
Author: Mines Bureau
Publisher: Minerals Yearbook: Volume 3: A
ISBN: 9781411341739
Size: 50.49 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 210
View: 6918

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This edition of the U.S. Geological Survey (USGS) Minerals Yearbook discusses the performance of the worldwide minerals and materials industries during year 2013 and provides background information to assist in interpreting that performance. These annual reviews are designed to provide timely statistical data on mineral commodities in various countries. This volume covers data from Asia and the Pacific. Each report includes sections on government policies and programs, environmental issues, trade and production data, industry structure and ownership, commodity sector developments, infrastructure, and a summary outlook. Audience: Government employees and contractors, as well as businesses and employees, all working in mineral-related trades, especially with interests in statistics about mineral commodities overseas, will find this resource invaluable.

Minerals Yearbook

Minerals Yearbook PDF
Author: Mines Bureau
Publisher: Government Printing Office
ISBN: 9781411341739
Size: 48.93 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 210
View: 2078

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This edition of the U.S. Geological Survey (USGS) Minerals Yearbook discusses the performance of the worldwide minerals and materials industries during year 2013 and provides background information to assist in interpreting that performance. These annual reviews are designed to provide timely statistical data on mineral commodities in various countries. This volume covers data from Asia and the Pacific. Each report includes sections on government policies and programs, environmental issues, trade and production data, industry structure and ownership, commodity sector developments, infrastructure, and a summary outlook. Audience: Government employees and contractors, as well as businesses and employees, all working in mineral-related trades, especially with interests in statistics about mineral commodities overseas, will find this resource invaluable.

Kingdom Of Lesotho

Kingdom of Lesotho PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 148434328X
Size: 21.89 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 78
View: 3344

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This 2017 Article IV Consultation highlights that high levels of unemployment, poverty, and inequality persist in Lesotho despite its faster growth compared with regional peers over the last decade. GDP growth is expected to be about 3 percent in FY2017/18, below the average of 4.1 percent for the past decade, and driven by mining and agriculture. Over the next three years, GDP growth is expected to be led by mining and construction related to the Lesotho Highlands Water Project Phase II. A steep decline in Southern African Customs Union transfers, a major source of government revenue, will result in a fiscal deficit that is likely to exceed 6 percent of GDP for the second year.

Namibia

Namibia PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484344073
Size: 41.96 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 86
View: 1669

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This 2017 Article IV Consultation highlights that Namibia’s economy has reached a turning point with ending of temporary expansionary factors. GDP sharply decelerated in 2016 and contracted in 2017 as construction in the mining sector came to an end and the government began consolidating. With the economy contracting and Southern Africa Customs Union’s receipts temporarily increasing, the current account balance improved significantly. The outlook remains positive with considerable vulnerabilities and risks. Growth is projected to resume in 2018, as mining production ramps up, construction activity stabilizes and manufacturing recovers, before converging to a long-term rate of about 3.5 percent, below the average of recent years.

United Republic Of Tanzania

United Republic of Tanzania PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1498390773
Size: 28.28 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 106
View: 5105

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This 2016 Article IV Consultation highlights that growth in Tanzania has remained strong and inflation moderate during the past two years. Real GDP grew by 7 percent in 2015, with activity particularly buoyant in the construction, communication, finance, and transportation sectors. Inflation remained in single digits throughout 2015, averaging 5.6 percent, despite the significant exchange rate depreciation in the first half of 2015. Inflation in April 2016 was 5.1 percent, close to the authorities’ target of 5 percent. The banking system appears sound overall, but there is wide variation within the system. The level of financial development has improved in recent years, though at a gradual pace.

South Africa

South Africa PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1475568606
Size: 56.36 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 93
View: 6506

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South Africa has made considerable economic and social strides since 1994, but faces significant challenges. Deep-rooted structural problems—infrastructure bottlenecks, skill mismatches, and harmful insider-outsider dynamics—have kept unemployment and inequality unacceptably high. Also, a confluence of external and domestic shocks, combined with heightened governance concerns and policy uncertainty, have weighed on confidence and growth. Though private balance sheets are still strong, vulnerabilities are elevated. 2016 growth is projected at 0.1 percent. Only a muted recovery is envisaged from 2017, with rising unemployment. Downside risks dominate and stem mainly from China, heightened global financial volatility, and domestic politics and possible policy missteps. Shocks could be amplified by extensive macro-financial linkages, especially if combined with sovereign credit rating downgrades to speculative grade. On the upside, the recent dialogue between social partners could catalyze reform implementation and invigorate growth.

Malawi

Malawi PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1513551477
Size: 76.89 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 63
View: 4594

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This 2015 Article IV Consultation highlights that bold economic reforms undertaken in mid-2012 in Malawi transformed the policy environment and greatly improved the outlook of the economy. Over 2012–14, real GDP growth and inflation averaged 4.3 percent and 24.5 percent, respectively. The economic outlook remains difficult reflecting the negative impact of weather-related shocks, the ongoing suspension of budget support, persistently high inflation and weaker global demand which could hurt Malawi’s exports. Real GDP growth is projected to fall by 2.7 percentage points to 3 percent in 2015.

Central African Republic

Central African Republic PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1475523718
Size: 34.28 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : en
Pages : 118
View: 7668

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This 2016 Article IV Consultation highlights that economic growth in the Central African Republic has remained anemic since 2013 owing to structural rigidities, poor infrastructure, and limited energy supply. Inflation reached 11.6 percent in 2014 and receded to 4.5 percent in 2015 thanks to improved supply conditions and a fall in the prices of basic imports. Corrective measures implemented in 2015 allowed revenue to reach 7.1 percent. IMF Executive Directors have commended the authorities for the progress achieved under their economic program supported by the Rapid Credit Facility, which has helped stabilize the economy, rebuild core administrative capacity, and improve the management of public resources.

Rwanda

Rwanda PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484309928
Size: 77.18 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 107
View: 4360

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This 2017 Article IV Consultation highlights that Rwanda has demonstrated strong macroeconomic policy management and implemented an ambitious development strategy that has resulted in high and inclusive growth, lower poverty and more gender equality, and improved living standards. Growth in 2016 was 5.9 percent, down from 2015, but comparing favorably to growth in the subcontinent. A recovery of growth is expected in 2017–18, owing to good rains and expanding domestic production. A spike in consumer price inflation in early 2017 was driven by food prices. Main risks to economic growth continue to be weather shocks affecting agriculture, regional security issues, and unexpected shifts in external development assistance.