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

Lebanon  2014 Article IV Consultation Staff Report  Press Release  and Statement by the Executive Director for Lebanon PDF
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1498323219
Size: 80.44 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 72
View: 3039

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KEY ISSUES Context: The economy is being severely tested by the Syria crisis. The refugee influx has reached one quarter of the population, fueling already high unemployment and poverty. The political impasse from the presidential elections—following months of negotiations over a new government—adds to the uncertainty. The economy is meanwhile suffering from a broad-based deterioration, with subdued growth and widening fiscal imbalances. Public debt is on the rise. Progress on structural reforms has been limited. On the positive side, deposit inflows have held up and foreign exchange reserves are sizeable; and security conditions have significantly improved, lifting tourism prospects. Key challenges: There is an urgent need for fiscal adjustment to achieve a sustainable debt reduction, and structural reforms to boost growth and address social inequities. Key policy recommendations: • Fiscal policy. The immediate priority is to stop the fiscal deterioration and return to primary surpluses, to avoid a possible loss of market confidence and put debt on a sustainable path. The consolidation strategy should minimize the impact of a planned salary increase for the public sector; include broad-based and non- distortionary revenue measures; and rebalance expenditure away from electricity transfers toward capital and social spending, to promote inclusive growth. Passing a budget for 2014 would help anchor confidence. Fiscal management should be strengthened and anchored in a medium-term perspective. • Monetary policy. The Banque du Liban (BdL) should continue to maintain high foreign exchange reserves as a buffer and signal of commitment to macro-financial stability. It should gradually withdraw from T-bill auctions, and adopt a strategy to improve its balance sheet over time. • Financial sector. Capital buffers should be strengthened, and the loan classification and restructuring rules and the AML/CFT regime further enhanced. • Structural reforms. Reforms in the electricity sector and the labor market are imperative to address current competitiveness pressures, lay the foundations for higher-productivity growth, and improve social conditions. • Refugee crisis. Lebanon cannot shoulder the costs of the massive inflow of Syrian refugees alone, and international budget support is needed. Strong government commitment to adjustment and reforms—along with a concerted policy framework to deal with the refugee crisis—would bolster credibility and help mobilize support.

Lebanon

Lebanon PDF
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1484368282
Size: 77.27 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 72
View: 5099

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KEY ISSUES Context: The economy is being severely tested by the Syria crisis. The refugee influx has reached one quarter of the population, fueling already high unemployment and poverty. The political impasse from the presidential elections—following months of negotiations over a new government—adds to the uncertainty. The economy is meanwhile suffering from a broad-based deterioration, with subdued growth and widening fiscal imbalances. Public debt is on the rise. Progress on structural reforms has been limited. On the positive side, deposit inflows have held up and foreign exchange reserves are sizeable; and security conditions have significantly improved, lifting tourism prospects. Key challenges: There is an urgent need for fiscal adjustment to achieve a sustainable debt reduction, and structural reforms to boost growth and address social inequities. Key policy recommendations: • Fiscal policy. The immediate priority is to stop the fiscal deterioration and return to primary surpluses, to avoid a possible loss of market confidence and put debt on a sustainable path. The consolidation strategy should minimize the impact of a planned salary increase for the public sector; include broad-based and non- distortionary revenue measures; and rebalance expenditure away from electricity transfers toward capital and social spending, to promote inclusive growth. Passing a budget for 2014 would help anchor confidence. Fiscal management should be strengthened and anchored in a medium-term perspective. • Monetary policy. The Banque du Liban (BdL) should continue to maintain high foreign exchange reserves as a buffer and signal of commitment to macro-financial stability. It should gradually withdraw from T-bill auctions, and adopt a strategy to improve its balance sheet over time. • Financial sector. Capital buffers should be strengthened, and the loan classification and restructuring rules and the AML/CFT regime further enhanced. • Structural reforms. Reforms in the electricity sector and the labor market are imperative to address current competitiveness pressures, lay the foundations for higher-productivity growth, and improve social conditions. • Refugee crisis. Lebanon cannot shoulder the costs of the massive inflow of Syrian refugees alone, and international budget support is needed. Strong government commitment to adjustment and reforms—along with a concerted policy framework to deal with the refugee crisis—would bolster credibility and help mobilize support.

Sustainability And Equity Challenges

Sustainability and Equity Challenges PDF
Author: Mariusz Jarmuzek
Publisher: International Monetary Fund
ISBN: 151354148X
Size: 74.22 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 20
View: 5461

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Reform of Lebanon’s pension system is indispensable. The country already faces fiscal sustainability risks, which will be compounded in the future by significantly higher pensionrelated spending and liabilities, mainly reflecting adverse demographics. In addition to sustainability issues, the pension system also suffers from equity shortcomings—Lebanon is the only MENA country that does not offer social security for retirees in the private sector. While several reform proposals have been formulated since the early 2000s, none has been implemented to date. Costs mount with every year of delay, so action is required soon to address these challenges.

Maldives

Maldives PDF
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1498381618
Size: 13.50 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 73
View: 5776

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This 2014 Article IV Consultation highlights that Maldives’ real economy has picked up. Growth is estimated to have reached 5 percent in 2014 with stronger tourism activity driven by a rapid expansion from Asian markets and a tepid recovery from Europe. The IMF staff expects growth to be about 5 percent in 2015. Weaker import prices have pushed down inflation to low levels. Growth is expected to remain relatively strong in the near term, though the fiscal adjustment envisaged in the 2015 Budget will have a mildly negative effect on growth.

Jordan

Jordan PDF
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1484312058
Size: 29.48 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : en
Pages : 132
View: 7599

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This 2017 Article IV Consultation highlights that Jordan has made significant progress since the 2014 Article IV Consultation but pressing challenges remain. The gradual pick-up in growth from 2010 to 2014 ended in 2015, with real GDP growth decelerating from 2.4 percent in 2015 to 2 percent in 2016. Labor market conditions have remained challenging, particularly for youth and women, with the unemployment rate increasing to 15.8 percent in the second half of 2016. Despite considerable progress and recent improvements, the outlook remains challenging. Real GDP growth is projected to reach 2.3 percent in 2017, while inflation is expected to stabilize at about 2.5 percent by year-end.

United Kingdom

United Kingdom PDF
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1475595921
Size: 57.47 MB
Format: PDF, ePub
Category : Business & Economics
Languages : en
Pages : 65
View: 3791

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Considerable progress has been achieved in the post-crisis repair of the UK economy. Private-sector indebtedness has been reduced, the financial sector regulatory framework has been overhauled, the fiscal deficit has been cut in half, and the employment rate has reached a record high. With the output gap now nearly closed, growth is expected to average near its potential rate of around 21⁄4 percent over the medium term, with inflation rising slowly from its current low levels to the 2 percent target by end-2017. However, this benign baseline is subject to risks, including those related to potential shocks to global growth and asset prices, still-high levels of household debt, the elevated current account deficit, and the degree to which productivity growth will recover. Uncertainty associated with the outcome of the forthcoming referendum on EU membership could also weigh on the outlook. Continued efforts are needed to complete the post-crisis repair, promote growth, and further bolster resilience.

Ecuador

Ecuador PDF
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1513519077
Size: 71.47 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 79
View: 6600

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This 2015 Article IV Consultation highlights that since the fourth quarter of 2014, the economy of Ecuador has been hit by external shocks and is slowing down. The sharp decline in the international oil price, by about half for the Ecuadorian mix, significantly undercut oil revenues. In addition, competitiveness is being eroded by the real appreciation of the exchange rate. In the face of the economic slowdown, bank liquidity conditions have tightened, credit growth has slowed, and nonperforming loans have risen. Despite the slowdown, inflation is picking up. Owing to the shocks and expected adjustment, the economy is projected to contract somewhat in 2015, while the external position deteriorates.

Cyprus

Cyprus PDF
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1484303261
Size: 45.88 MB
Format: PDF, ePub
Category : Business & Economics
Languages : en
Pages : 51
View: 5731

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The economic recovery has strengthened since Cyprus exited the Fund-supported program 15 months ago. Broad-based growth and improved external competitiveness have reduced unemployment. The fiscal position is in small surplus. External adjustment has continued, and borrowing costs for the public and private sectors have moderated. While the stock of credit continues to decline, returning confidence in the banks has encouraged deposit inflows.

Islamic Republic Of Iran

Islamic Republic of Iran PDF
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1513575058
Size: 60.47 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 67
View: 124

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This 2015 Article IV Consultation highlights that economic activity in Iran has slowed down significantly since the fourth quarter of 2014/15 owing to sharp decline in global oil prices, tight corporate and bank balance sheets, and postponed consumption and investment decisions ahead of the expected lifting of economic sanctions. Twelve-month (point-to-point) inflation has declined to about 10 percent in recent months, largely reflecting lower food and beverage inflation, and the inflation rate is expected to remain close to 14 percent by year-end. Prospects for 2016/17 are brighter, owing to the prospective lifting of economic sanctions.

Tunisia

Tunisia PDF
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1513570609
Size: 64.90 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 97
View: 1554

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The pandemic aggravated Tunisia’s long-standing vulnerabilities stemming from persistent fiscal and external imbalances, rising debt, and contingent liabilities from inefficient state-owned enterprises. The crisis is expected to induce the largest contraction in real GDP since independence. The authorities’ targeted response together with higher outlays on wages widened the fiscal deficit. A second Covid-19 wave is underway. The authorities are securing 500,000 doses to start a first campaign of vaccinations in February and are aiming to secure more doses to vaccinate half of the population starting in April–May. Staff expects GDP growth to rebound modestly in 2021, but it could take years before activity returns to pre-crisis levels, especially if large imbalances were not addressed and key reforms delayed. Downside risks dominate and recent protests highlight the level of social tensions, aggravated by Covid-19 restrictions, and particularly among the youth.

Panama

Panama PDF
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1475550855
Size: 67.49 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 69
View: 6918

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This 2016 Article IV Consultation highlights Panama’s expected continued growth—among the strongest in Latin America—against a backdrop of low inflation, a stable financial system, and a declining current account deficit. GDP grew by 5.8 percent in 2015, and growth is projected to remain at about 6 percent in 2016 and over the medium term. The economy will be supported by the expected opening of the expanded canal and lower fuel prices. The overall fiscal deficit is expected to consolidate to 1.2 percent of GDP over the medium term. Public debt is projected as sustainable.

Bloomsbury World Englishes Volume 2 Ideologies

Bloomsbury World Englishes Volume 2  Ideologies PDF
Author: Rani Rubdy
Publisher: Bloomsbury Publishing
ISBN: 1350065854
Size: 14.46 MB
Format: PDF, Kindle
Category : Language Arts & Disciplines
Languages : en
Pages : 336
View: 7622

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Bloomsbury World Englishes offers a comprehensive and rigorous description of the facts, implications and contentious issues regarding the forms and functions of English in the world. International experts cover a diverse range of varieties and topics, offering a more accurate understanding of English across the globe and the various social contexts in which it plays a significant role. With volumes dedicated to research paradigms, language ideologies and pedagogies, the collection pushes the boundaries of the field to go beyond traditional descriptive paradigms and contribute to moving research agendas forward. Volume 2: Ideologies explores the politics and economics of English, and the impact of language on local societies and cultures. In doing so, chapters discuss how English is often entangled in societal issues, such as inequality, (de-)colonization, racism, oppression and liberation.

Islamic Republic Of Afghanistan First Review Under The Under The Extended Credit Facility Arrangement And Request For Modification Of Performance Criteria Press Release Staff Report And Statement By The Executive Director For Islamic Republic Of Afghanistan

Islamic Republic of Afghanistan  First Review Under the Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria Press Release  Staff Report  and Statement by the Executive Director for Islamic Republic of Afghanistan PDF
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 151358720X
Size: 14.46 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 103
View: 1830

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Afghanistan is confronting the Covid-19 pandemic and its socioeconomic fallout amid rising insecurity. Supported by donors, the authorities boosted health and social spending to cushion the pandemic’s impact on the vulnerable. Policy measures kept the output contraction to 2 percent in 2020, but poverty rose and the fiscal deficit widened. Political uncertainty has risen as the peace talks between the government and Taliban stalled and the U.S., NATO, and allies announced the withdrawal of their troops by September. In a strong sign of support for Afghanistan’s development and reforms, donors pledged some US$12 billion civilian grants over 2021–24 at the Geneva conference in November 2020.

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: 37.84 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages :
View: 507

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International Monetary Fund Annual Report 2019.

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: 70.28 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 90
View: 1809

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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 2015

International Monetary Fund Annual Report 2015 PDF
Author: International Monetary Fund. Secretary's Department
Publisher: International Monetary Fund
ISBN: 1513586572
Size: 21.19 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 190
View: 1826

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The past year has been a time of unexpected challenges for the international community, International Monetary Fund (IMF) Managing Director Christine Lagarde says in her foreword to the institution’s Annual Report 2015—Tackling Challenges Together, published today. Amid the continued focus on spurring stronger and more inclusive growth and strengthening global cooperation, the IMF faced economic developments that required rapid adjustments. Highlights of the IMF’s work during the year included insight into the international impact of falling oil prices, financing and policy advice for countries in difficulties, emergency funding to combat the Ebola crisis in West Africa, a new relief fund for the poor and most vulnerable countries hit by natural or public health disasters, research on fiscal policy to reduce inequality, free online training for the public and government officials, and online statistical data free of charge for all users. The report covers the work of the IMF’s Executive Board and contains financial statements for the year May 1, 2014, to April 30, 2015. 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 2016

International Monetary Fund Annual Report 2016 PDF
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1475517076
Size: 70.20 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 90
View: 3472

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The year was marked by difficult challenges and milestone achievements. To reinvigorate modest growth at a time of uncertainty about a complicated global economy, the IMF membership endorsed a three-pronged approach of monetary, fiscal, and structural policies to get the world economy back on a stronger and safer growth track. Highlights of the IMF’s work during the year included entry into effect of its quota and governance reforms approved in 2010, which increase the Fund’s core resources and make it more representative of the membership; commitments for increased financial support, policy advice, expertise, and training to help low-income developing countries achieve the U.N. Sustainable Development Goals; analysis of the international monetary system; inclusion of the Chinese currency in the basket of currencies that make up the Special Drawing Right; and policy advice on the economic repercussions of mass migration of refugees from Syria and other conflict-afflicted states. The IMF Annual Report, which covers the period May 1, 2015 to April 30, 2016, discusses all of these issues, plus a wide range of policy matters that the Executive Board addressed during the year.

Die Weltweite Ungleichheit

Die weltweite Ungleichheit PDF
Author: Facundo Alvaredo
Publisher: C.H.Beck
ISBN: 3406723861
Size: 76.14 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : de
Pages : 456
View: 2878

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Mit seinem Weltbestseller «Das Kapital im 21. Jahrhundert» hat Thomas Piketty eine heftige Kontroverse über die wachsende Ungleichheit in den westlichen Gesellschaften und deren Ursachen ausgelöst. Nun folgt der «World Inequality Report» – der gründlichste und aktuellste Bericht zur Lage der weltweiten Ungleichheit. Ein junges Team von Ökonomen, zu dem auch Piketty gehört, legt darin Fakten und Analysen vor, die ganz klar zeigen: Fast überall auf der Welt nimmt die Ungleichheit dramatisch zu. 1980 verdienten in den USA die unteren 50 Prozent der Lohnskala 21 Prozent des gesamten nationalen Einkommens, während das oberste 1 Prozent 11 Prozent des gesamten Einkommens mit nach Hause nahm. Doch dieser gewaltige Spagat hat sich heute sogar noch umgekehrt: Während die untersten 50 Prozent nur noch 13 Prozent des Einkommens nach Hause bringen, sichert sich das oberste 1 Prozent mehr als 20 Prozent des gesamten Einkommens. Diesen Trend zunehmender ökonomischer Ungleichheit gibt es nicht nur in den USA, sondern nahezu überall auf der Welt. Er wirkt wie eine bedrohliche kapitalistische Urgewalt, gegen die sich im Zeitalter von Globalisierung und Beschleunigung nichts ausrichten lässt. Der «World Inequality Report» zeigt, dass dies nicht stimmt. Wir können und müssen etwas gegen diesen Trend unternehmen – und eine starke Demokratie mit klaren Spielregeln für die Marktwirtschaft kann dies bewirken.

Die Vierte Industrielle Revolution

Die Vierte Industrielle Revolution PDF
Author: Klaus Schwab
Publisher: Pantheon Verlag
ISBN: 3641203171
Size: 58.83 MB
Format: PDF, ePub
Category : Business & Economics
Languages : de
Pages : 240
View: 4430

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Die größte Herausforderung unserer Zeit Ob selbstfahrende Autos, 3-D-Drucker oder Künstliche Intelligenz: Aktuelle technische Entwicklungen werden unsere Art zu leben und zu arbeiten grundlegend verändern. Die Vierte Industrielle Revolution hat bereits begonnen. Ihr Merkmal ist die ungeheuer schnelle und systematische Verschmelzung von Technologien, die die Grenzen zwischen der physischen, der digitalen und der biologischen Welt immer stärker durchbrechen. Wie kein anderer ist Klaus Schwab, der Vorsitzende des Weltwirtschaftsforums, in der Lage aufzuzeigen, welche politischen, wirtschaftlichen, sozialen und kulturellen Herausforderungen diese Revolution für uns alle mit sich bringt.

Das Steuerrecht Im Staatshaushaltssystem Der Ddr

Das Steuerrecht im Staatshaushaltssystem der DDR PDF
Author: Sandra Duda
Publisher: Peter Lang
ISBN: 9783631613054
Size: 16.55 MB
Format: PDF, Docs
Category : Law
Languages : de
Pages : 206
View: 3464

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Die nach der Teilung Deutschlands in der DDR im Vergleich zur Bundesrepublik Deutschland völlig andersartige politische und wirtschaftliche Entwicklung führte nicht nur zu materiellrechtlichen Änderungen der in der DDR anzuwendenden Steuergesetze, sondern auch zur Herausbildung eines - mit dem bundesdeutschen kaum vergleichbaren - Steuersystems. Die Arbeit befasst sich mit der systembedingten Entwicklung und Ausgestaltung des Steuersystems, wobei besonderes Augenmerk auf die steuerpolitischen Zielsetzungen in Bezug auf die private Wirtschaft gelegt wird. Ferner werden die Abgabenordnung der DDR und ihr Verhältnis zu dem Grundgedanken eines rechtsstaatlichen Verwaltungsverfahrens sowie die wichtigsten Steuergesetze der DDR untersucht und abschließend kritisch gewürdigt.