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Lesotho is a small, landlocked, low-income country, with limited natural resources and a narrow production and export base. In recent Article IV consultations, IMF staff has emphasized the importance of ensuring that increases in outlays for poverty reduction are consistent with fiscal...
Persistent link: https://www.econbiz.de/10011243443
This paper discusses a request from the Democratic Republic of São Tomé and Príncipe for a three-year arrangement under the Poverty Reduction and Growth Facility (PRGF). The economic outlook for 2009 is broadly favorable, but subject to significant risks. The program spans a period including...
Persistent link: https://www.econbiz.de/10011242688
Pakistan has been facing significant economic difficulties. With sharp increases in oil and food prices, and adverse security developments, Pakistan has experienced a significant widening of the fiscal deficit, owing in large part to increasing energy subsidies and major pressures on its balance...
Persistent link: https://www.econbiz.de/10011244645
This 2008 Article IV Consultation highlights that the main challenge for Maldives is to contain fiscal expenditures … that have increased sharply following the tsunami. Expenditure has reached extraordinarily high levels by international and … historical standards, with the majority of the increase in domestically financed expenditure unrelated to the tsunami. Executive …
Persistent link: https://www.econbiz.de/10011243767
This paper focuses on the First Review for the Republic of Congo under the Poverty Reduction and Growth Facility (PRGF). Policy implementation under the authorities’ PRGF arrangement through 2008 and the early part of 2009 was broadly satisfactory. The quantitative target on the non-oil...
Persistent link: https://www.econbiz.de/10011242715
The Fifth Review under the Extended Credit Facility (ECF) Arrangement for the Union of the Comoros discusses macroeconomic policies and developments of the country. The performance under the ECF-supported program through end-December has been satisfactory. All performance criteria and indicative...
Persistent link: https://www.econbiz.de/10011244547
Despite severe economic, political, and natural setbacks in Benin in 2010, its economic growth has accelerated in 2011. The Executive Board of the International Monetary Fund (IMF) has appreciated Benin’s economic performance under the program supported by the Extended Credit Facility...
Persistent link: https://www.econbiz.de/10011243336
Iraq showed good progress in undertaking strong macroeconomic policies and implementing economic reforms under the Stand-By Arrangement (SBA). Executive Directors welcomed this, and noted that low investment and stagnating output in the oil sector continue to hamper economic growth. They...
Persistent link: https://www.econbiz.de/10011245462
measures and use expenditure savings to fully cover the cost of stabilizing the state-owned electricity company’s financial … position in 2007.These measures should ensure that priority expenditure is protected and budgetary safeguards remain adequate. …
Persistent link: https://www.econbiz.de/10011243451
Lesotho has made progress toward macroeconomic stability. After recent economic development, diamond production, garment industry, and good performance in the agriculture and service sectors were recovered. The fiscal position and public debt sustainability indicators have improved. Achievement...
Persistent link: https://www.econbiz.de/10011245335