International Monetary Fund. External Relations Dept.
Since the end of violent conflict in April 2002, about 4 million displaced Angolans have returned to their communities, supported by a government-led initiative to provide emergencyfoodaid and humanitarian assistance. Much remains to be done, however, to tackle widespread poverty, improve social and health conditions, and restore and update the physical infrastructure. In addition, the civil conflict has left the country with a sizable debt, a swollen public sector payroll, and largely unaccountable state institutions that dominate critical areas of the
This paper presents Liberia’s Request for Disbursement Under the Rapid Credit Facility. The economic impact of the pandemic is hitting the poorest with little social safety net, and food security of those relying on uncertain daily income is a pressing concern. The authorities have responded by taking revenue and expenditure measures to support emergency food aid for the poor; improving monitoring and control of spending; and safeguarding scarce foreign exchange reserves. Preliminary data suggest that performance under the Extended Credit Facility-supported program has been weak, though the authorities are fully committed to address the weaknesses. In order to address the shortage of Liberian dollars and the growing need for more US dollar liquidity, the authorities have contracted the printing of additional Liberian dollar bank notes and are formulating measures for inclusion in the FY2021 budget to augment US dollar liquidity.
Mr. Erwin H Tiongson, Mr. Benedict J. Clements, and Mr. Sanjeev Gupta
Global food aid is considered a critical consumption smoothing mechanism in many countries. However, its record of stabilizing consumption has been mixed. This paper examines the cyclical properties of food aid with respect to food availability in recipient countries, with a view to assessing its impact on consumption in some 150 developing countries and transition economies, covering 1970 to 2000. The results show that global food aid has been allocated to countries most in need. Food aid has also been countercyclical within countries with the greatest need. However, for most countries, food aid is not countercyclical. The amount of food aid provided is also insufficient to mitigate contemporaneous shortfalls in consumption. The results are robust to various specifications and filtering techniques and have important implications for macroeconomic and fiscal management.
FOR IMMEDIATE RELEASE
The IMF approved the disbursement of US$50 million (1.7 percent of GDP) under the Rapid Credit Facility to support the authorities’ response to the COVID-19 pandemic.
The economic impact of the pandemic is hitting the poorest with little social safety net, and food security of those relying on uncertain daily income is a pressing concern.
The authorities have responded by taking revenue and expenditure measures to support emergencyfoodaid for the poor; improving monitoring and control of spending; and safeguarding scarce
needed, requiring close cooperation between the authorities and development partners, including: procuring and distributing medical supplies; ensuring households have access to food throughout the lockdown; and funding and executing the budget—including paying wages to health workers even in the face of anticipated revenue shortfalls. The Liberian authorities are enhancing their response including by: putting all available domestic resources into the government consolidated account; reallocating non-essential spending to emergencyfoodaid; improving monitoring and
Table 57: Emergencyfoodaid supplied to disaster victims
Table 58: Demarcated and attributed plots, until 9 June
Table 59: Construction of houses by province, until 9 November
Table 60: Reconstruction of houses in Maputo City
Table 61: Reconstruction of houses in Maputo Province
Table 62: 2007 Budget Balance
Table 63: 2007 State Revenue
Table 64: Operating Expenditure
Table 65: Investment Expenditure
Table 66: Expenditure in the PARPA Priority Sectors
Table 67: Percentage Distribution of Expenditure in the PARPA Priority Sectors