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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: 24.49 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 54
View: 2641

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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.

Zimbabwe

Zimbabwe PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1475568231
Size: 37.22 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 98
View: 315

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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: 31.37 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 79
View: 576

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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: 57.87 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 210
View: 1109

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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: 30.78 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 210
View: 4573

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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.

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: 1498321615
Size: 51.84 MB
Format: PDF, Docs
Category : Business & Economics
Languages : de
Pages :
View: 2700

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International Monetary Fund Annual Report 2019.

Kingdom Of Lesotho

Kingdom of Lesotho PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 148434328X
Size: 54.92 MB
Format: PDF, ePub
Category : Business & Economics
Languages : en
Pages : 78
View: 1733

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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: 1484344081
Size: 48.41 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 86
View: 7686

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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: 30.74 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : en
Pages : 106
View: 1562

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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: 50.42 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 93
View: 7031

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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.