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EXECUTIVE SUMMARY Context. On June 7, 2013, the Executive Board approved a 24-month Stand-By Arrangement in an amount equivalent to 400 percent of quota (SDR 1.146 billion or about $1.75 billion). To date, SDR 573 million equivalent to $877 million has been disbursed. The pillars of the program...
Persistent link: https://www.econbiz.de/10014411510
KEY ISSUES Political Context: Sudan is embarking on a difficult national dialogue with the opposition and some armed groups in the Blue Nile and South Kordofan regions. The objective is to break the current destructive cycle of instability and prepare for the upcoming presidential election in...
Persistent link: https://www.econbiz.de/10014411541
This issue discusses economic developments in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP), which continue to reflect the diversity of conditions prevailing across the region. Most high-income oil exporters, primarily in the GCC, continue to record steady growth and solid...
Persistent link: https://www.econbiz.de/10014411626
and output, strong private sector activity, and government spending. It has played a systemic and stabilizing role in the … and government spending on large projects in transportation infrastructure and housing. Inflation is expected to remain … diversified economy is a challenge given Saudi Arabia's vast oil resources. The government is making considerable efforts to lay …
Persistent link: https://www.econbiz.de/10014411641
trigger immediate spending cuts, especially in capital expenditure, but it places more urgency on implementing the government … parliamentary elections were held during 2006-13). It is vital for the government and the parliament to agree on an agenda to place …, supported by government investment in infrastructure and the oil sector, and by consumption. The main downside risk to the …
Persistent link: https://www.econbiz.de/10014411755
This Selected Issues paper discusses the designing and implementing of Kuwait’s fiscal policy for the medium term. Fiscal policy has a major role to play in supporting macrostability and diversification. The fiscal strategy design and implementation on a yearly basis are based on a few key...
Persistent link: https://www.econbiz.de/10014411756
KEY ISSUES Inflation has subsided, but longstanding vulnerabilities are becoming increasingly apparent. Economic growth is holding up well, inflation has fallen below the central bank’s target, and fiscal and external buffers remain large. But the economy’s dependence on the hydrocarbon...
Persistent link: https://www.econbiz.de/10014411760
Conclusions * Algeria will need to undertake significant and consistent fiscal consolidation to restore fiscal sustainability. In the wake of the crisis, Algeria expanded wages, subsidies, and transfers in an effort to address social demands. At the same time, revenues declined as a result of...
Persistent link: https://www.econbiz.de/10014411761
-September performance criterion (PC) on the central government primary deficit is estimated to have been met, but the PC on the combined … owing to lower Egyptian gas supply (1.4 percent of GDP higher compared with the program). Most of the central government … scope to upgrade public financial management and modernize the tax administration. Vision 2025-a government strategy …
Persistent link: https://www.econbiz.de/10014411775
This 2015 Article IV Consultation highlights that Qatar is implementing an ambitious diversification strategy, while retaining its systemic role in the global natural gas market. Qatar accounts for one-third of global liquefied natural gas trade and has emerged as an important global financial...
Persistent link: https://www.econbiz.de/10014412013