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Chile 2014 Article Iv Consultation Staff Report Press Release And Statement By The Executive Director For Chile

Chile  2014 Article IV Consultation   Staff Report  Press Release  and Statement by the Executive Director for Chile PDF
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1498310974
Size: 53.50 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : en
Pages : 71
View: 347

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KEY ISSUES Politics: President Bachelet won the Presidential election on a platform to foster inclusive growth and reduce inequality. Her government took office in March 2014 and is launching an ambitious policy agenda that includes important reforms in several areas, including taxation, education, productivity, and energy. Outlook and risks: Chile’s global environment is shifting, with a dimmer outlook for its main export, copper, and normalization of global monetary conditions. Growth has slowed markedly, resulting in a modest output gap. The peso has depreciated, feeding into inflation. Staff projects growth to bottom out in 2014 and then gradually recover. Key risks relate to a large and lasting drop in copper prices and global financial volatility. Policy mix: The freely floating peso is working as a shock absorber and will support the economic recovery. The policy mix with broadly neutral fiscal and accommodative monetary policy is appropriate. Room for further monetary easing has narrowed but space remains if domestic demand flounders, so long as inflation expectations remain well anchored. On fiscal, given the strong public finances, automatic stabilizers should be allowed to operate unimpeded and there is space for stimuli in the event of a major downturn. The commitment to close the structural fiscal deficit by 2018 is appropriate and should be phased in a way that avoids undue drag on the recovery. Should risks materialize, the freely floating currency is the first line of defense. Growth and equity reforms: Achieving strong growth while reducing inequality will require structural reforms. The authorities’ agenda focuses on the right areas but many details remain work in progress. Clarity on the details, timetables, and prioritization will reduce uncertainty and the risk of delays. Financial stability: Risks to financial stability appear contained, but it will be important to push through with regulatory reforms underway, including initiatives currently in Congress. Further effort will be needed to close regulatory gaps, in particular bank capital requirements, relative to international benchmarks.

Chile

Chile PDF
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1498380336
Size: 32.42 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 71
View: 3493

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KEY ISSUES Politics: President Bachelet won the Presidential election on a platform to foster inclusive growth and reduce inequality. Her government took office in March 2014 and is launching an ambitious policy agenda that includes important reforms in several areas, including taxation, education, productivity, and energy. Outlook and risks: Chile’s global environment is shifting, with a dimmer outlook for its main export, copper, and normalization of global monetary conditions. Growth has slowed markedly, resulting in a modest output gap. The peso has depreciated, feeding into inflation. Staff projects growth to bottom out in 2014 and then gradually recover. Key risks relate to a large and lasting drop in copper prices and global financial volatility. Policy mix: The freely floating peso is working as a shock absorber and will support the economic recovery. The policy mix with broadly neutral fiscal and accommodative monetary policy is appropriate. Room for further monetary easing has narrowed but space remains if domestic demand flounders, so long as inflation expectations remain well anchored. On fiscal, given the strong public finances, automatic stabilizers should be allowed to operate unimpeded and there is space for stimuli in the event of a major downturn. The commitment to close the structural fiscal deficit by 2018 is appropriate and should be phased in a way that avoids undue drag on the recovery. Should risks materialize, the freely floating currency is the first line of defense. Growth and equity reforms: Achieving strong growth while reducing inequality will require structural reforms. The authorities’ agenda focuses on the right areas but many details remain work in progress. Clarity on the details, timetables, and prioritization will reduce uncertainty and the risk of delays. Financial stability: Risks to financial stability appear contained, but it will be important to push through with regulatory reforms underway, including initiatives currently in Congress. Further effort will be needed to close regulatory gaps, in particular bank capital requirements, relative to international benchmarks.

Revenue Statistics In Latin America And The Caribbean 2018

Revenue Statistics in Latin America and the Caribbean 2018 PDF
Author: OECD
Publisher: OECD Publishing
ISBN: 9264292233
Size: 33.26 MB
Format: PDF, ePub, Mobi
Category :
Languages : en
Pages : 308
View: 5144

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Revenue Statistics in Latin America and the Caribbean 2018 compiles comparable tax revenue statistics for 25 Latin American and Caribbean economies, the majority of which are not OECD member countries. The publication is based on the OECD Revenue Statistics database.

Colombia

Colombia PDF
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1484361156
Size: 10.52 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 78
View: 167

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This paper discusses key issues related to the Colombian economy. Despite adverse global circumstances, Colombia’s successful policies and inclusive growth agenda continued in 2015. Colombia’s strong policy framework helped ensure an orderly adjustment to the deteriorated external conditions. Although the medium-term outlook is favorable, it is surrounded by downside risks. The main near-term risks stem from Colombia’s still significant near-term external financing needs and potential capital inflow reversals, the result of volatile global financial conditions. On the upside, bringing the peace process to fruition could further improve business confidence and capital inflows, reinforcing the recovery that will follow the necessary adjustment process.

Argentina

Argentina PDF
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1484335767
Size: 44.40 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 83
View: 4501

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This 2017 Article IV Consultation highlights that Argentina’s government has made important progress in restoring integrity and transparency in public sector operations. These policy changes have put the economy on a stronger footing and corrected many of the most urgent macroeconomic imbalances. Private consumption strengthened in 2017, supported by greater real wages and buoyant credit growth. With stronger domestic demand, the trade surplus turned into a deficit and the current account deficit increased. Annual inflation has declined from its peak in 2016, but remained relatively resilient and inflation expectations moved up, prompting the central bank to raise interest rates. Going forward, GDP growth is expected to consolidate, inflation inertia will slowly subside, and the fiscal deficit will gradually fall.

Extractive Industries

Extractive Industries PDF
Author: Tony Addison
Publisher: Oxford University Press
ISBN: 0198817363
Size: 46.74 MB
Format: PDF, Docs
Category : Mineral industries
Languages : en
Pages : 768
View: 2384

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This volume is about the challenges and opportunities facing developing countries in using their extractive industries to achieve inclusive and sustainable development. It recognises explicitly the greatly increased importance of mining, oil and gas in many lower income countries.

The Gambia

The Gambia PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1513558919
Size: 52.19 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 76
View: 5819

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This 2015 Article IV Consultation highlights that The Gambia has experienced large balance of payments and fiscal imbalances, caused by persistent policy slippages in recent years and financial difficulties in public enterprises. The IMF supported the authorities’ efforts through a Rapid Credit Facility (RCF) disbursement in early April 2015 and a Staff-Monitored Program (SMP). However, major policy slippages have occurred since the RCF disbursement, pushing the SMP off track and worsening the outlook considerably. In light of the elevated level of public debt, the government should prioritize infrastructure investments that help address poverty and improve the business environment. The authorities are encouraged to continue their efforts to improve supervision capacity to enhance financial stability.

Australia

Australia PDF
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1475555091
Size: 34.22 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 79
View: 1002

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This 2013 Article IV Consultation highlights that the Australian economy has performed well relative to many other advanced economies since the global financial crisis. A transition phase has now been reached as the terms of trade-driven mining investment boom of the past decade has peaked, and the economy is moving to the production and export phase. Annual growth slowed to 21⁄4 percent in the third quarter of 2013, below the trend growth of about 3 percent. Inflation remains anchored in the Reserve Bank of Australia’s (RBA) target range.

Sierra Leone

Sierra Leone PDF
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1498369219
Size: 64.21 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : en
Pages : 125
View: 622

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This 2016 Article IV Consultation highlights that economic outcomes in Sierra Leone have deteriorated sharply over the past two years. Growth declined dramatically from 20.7 percent in 2013, to 4.6 percent in 2014, and further to –21.1 percent in 2015. The budget is under severe pressure. Between mid-2014 and end-2015, the Leone depreciated 22 percent against the U.S. dollar. Banking sector vulnerabilities have increased. Living standards have also deteriorated significantly since late 2014. The medium-term outlook is somewhat positive, with growth projected to recover to 4.3 percent in 2016, increasing gradually to about 6.5 percent by 2020.

Revenue Statistics In Latin America And The Caribbean 2017

Revenue Statistics in Latin America and the Caribbean 2017 PDF
Author: OECD
Publisher: OECD Publishing
ISBN: 9264272925
Size: 19.58 MB
Format: PDF, Mobi
Category :
Languages : en
Pages : 300
View: 5747

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The Revenue Statistics in Latin America and the Caribbean publication compiles comparable tax revenue statistics for a number of Latin American and Caribbean economies. The model is the OECD Revenue Statistics database, backed by a well-established OECD methodology.