machine learning techniques to examine the impact on employment status (employed or not) using individual data until June 2020. They show that unemployed or part-time workers in the hotel and restaurant industry and services occupation, as well as younger and female workers are more affected. Based on a May 2020 labor market survey by Keio University, Yamamoto et al. (2021) find that employment status (regular or non-regular) and firm size were the main determinants of employment outcomedifferences. Drawing on additional Keio University surveys, Sumita (2021) does
Income and Expenditures for FY 2021
(in SDR millions)
April Projections 1
A. Operational income
Margin for the rate of charge
Service and other charges
Fixed-Income Subaccount investment income
This paper reports on the Fund’s income position for FY 2021 following the closing of the Fund’s accounts for the financial year and completion of the external audit. Overall FY 2021 net income amounted to SDR 4.8 billion or SDR 0.7 billion higher than estimated in April, mainly reflecting a larger than anticipated gain reported under IAS 19 (the accounting standard for employee benefits) and endowment returns exceeding earlier projections.
This paper reports on the Fund’s income position for FY 2020 following the closing of the Fund’s accounts for the financial year and completion of the external audit. Net operational income was about SDR 1.4 billion, slightly higher than estimated in the April supplement, mainly reflecting higher investment income. However, the unrealized pension-related adjustment in FY 2020, stemming mainly from the actuarial remeasurement of staff retirement plan assets and liabilities, was larger than previously estimated and more than offset the Fund’s net operational income, contributing to an overall net loss of about SDR 1.4 billion for the year.
the SME sector, infrastructure provision, and human development, all of which are critical for Ghana’s continued development and poverty alleviation. These are recognized by the World Bank poverty report as major ingredients to lift subsistence farmers and urban informal workers out of poverty.
14. But staffs consider that the GSGDA could give more prominence and pay more attention to spatial intervention mechanisms . While education, health and social protection policies have helped reduce geographical disparities in human development outcomes, difference in the
This Joint Staff Advisory Note of the Poverty Reduction Strategy Paper (PRSP) on Ghana reviews the Ghana Shared Growth and Development Agenda (GSGDA) for the period 2010–13. The GSGDA comprises three volumes: the policy framework, the costing framework, and the monitoring and evaluation framework; and follows Ghana Poverty Reduction Strategy I and II (GPRS-I and GPRS-II). IMF staff finds the underlying sector development plans compelling and well considered. However, important risks to implementation remain, which could reduce Ghana’s ability to meet the GSGDA objectives.
Metodij Hadzi-Vaskov, Mr. Javier Kapsoli, and Mr. Bogdan Lissovolik
mitigating this political procyclicality bias. In this context, the larger LA countries had fiscal rules in place for the bulk of 2000–14) and this may have mitigated the problem there. However, the presence of fiscal rules is not a “magic bullet” as the difference is quite small.
Figure 10.1. Fiscal OutcomeDifferences in Election versus Non-election Years, 2000–14 (Percent of GDP)
Source: IMF staff estimates.
Note: CA-6 = the 6 countries of Central America; LA-6 = Latin America 6: Brazil, Chile, Colombia, Mexico, Peru, and Uruguay; CRI = Costa Rica; DR
viewed as a result of the narrow range of policy instruments available to it, coupled with concern over the CBR’s income position, it also reflects a reluctance to unnecessarily tighten monetary policy for fear of slowing output growth—in turn a reflection of the multiple objectives pursued by the CBR.
Monetary Policy Targets and Outcomes, 1999-2002
CBR Target/Projection 1