Narrow Your Choices

Refine By Countries

Refine By Topic

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Books and Analytical Papers > IMF Staff Country Reports

You are looking at 1 - 10 of 134 items for :

  • Type: Journal Issue x
Clear All Modify Search
Cover IMF Staff Country Reports
Union économique et monétaire ouest-africaine: Rapport des services du FMI sur les politiques communes des pays membres-Communiqué de presse; Rapport du personnel; et déclaration du Directeur exécutif de l’Union économique et monétaire ouest-africaine
International Monetary Fund. African Dept.
L’UEMOA s’est montrée résiliente face à de forts chocs négatifs, parvenant à garder une croissance forte, tandis que l’inflation est récemment revenue dans sa fourchette cible. Toutefois, des pressions budgétaires et extérieures persistantes — dues à des besoins de financement accrus pendant une période d’accès limité aux marchés de capitaux internationaux — ont pesé sur la liquidité et fortement entamé les réserves ces dernières années. Le resserrement de la politique monétaire opéré par la BCEAO et l’augmentation des financements extérieurs enregistrée ces dernières semaines ont contribué à l'amélioration des perspectives des réserves, mais celles-ci demeurent inférieures aux niveaux adéquats.
Keywords:
la lutte contre le blanchiment de capitaux et le financement du terrorisme ; (LBC/FT); Crédit; Crime; Politique et analyse du secteur financier ; la stabilité du secteur financier ; Consolidation budgétaire ; Politique budgétaire; Organisation internationale; Politique monétaire; Argent; Dette publique.
Cover IMF Staff Country Reports
West African Economic and Monetary Union: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper focuses on securing fiscal discipline and credibility in West African Economic and Monetary Union (WAEMU). Fiscal consolidation and the reintroduction of the WAEMU fiscal framework Pact—is crucial for maintaining debt sustainability, external viability, and financial stability, while promoting access to lower cost financing and rebuilding fiscal buffers. Members’ adjustment plans should emphasize domestic revenue mobilization, while controlling expenditure, notably the wage bill. In order to enhance fiscal credibility, and maximize prospects for debt sustainability, financial stability and external viability, it is essential and urgent to reintroduce regional fiscal rules at the original ceilings—3 percent gross domestic product (GDP) for deficit and 70 percent GDP for debt. It is also essential to implement a consistent definition of fiscal indicators across the region, avoiding carve-outs for particular spending items. In order to secure fiscal discipline and credibility, it is critical to establish effective mechanisms for assessment, accountability, and enforcement, including by defining a credible debt correction mechanism and exogenous escape clauses, as well as building an effective communication strategy.
Keywords:
deficit ceiling; climate adaption; WAEMU level; WAEMU population; WAEMU lag; Gender inequality; Climate change; Agricultural commodities; Women; Securities; Global; Sub-Saharan Africa; West Africa
Cover IMF Staff Country Reports
West African Economic and Monetary Union: Staff Report on Common Policies for Member Countries-Press Release; Staff Report; and Statement by the Executive Director for the West African Economic and Monetary Union
International Monetary Fund. African Dept.
This paper presents 2024 discussions on Common Policies of Member Countries of the West African Economic and Monetary Union (WAEMU). The WAEMU has proved resilient amid significant adverse shocks, maintaining strong growth estimated at 5.1 percent in 2023. Inflation has fallen rapidly from its 2022 peaks and is now back within the 1–3 percent target range. Fiscal policy needs to ensure a credible medium-term commitment to debt sustainability, while keeping deficits consistent with available financing. The financial sector has been resilient so far, but the banking sector’s exposures to governments require a medium-term plan to address the sovereign-bank nexus, while avoiding disruptions in the regional debt market. WAEMU’s prosperity will also depend on maintaining political cohesion, deepening economic integration, and strengthening the institutional framework, and infrastructure. Regional growth prospects would be enhanced by continued efforts to increase common productive capacity in energy, infrastructure, and food resilience, as called for in the WAEMU Commission’s Regional Development Strategy.
Keywords:
WAEMU convergence pact; policy advice; WAEMU institution; WAEMU member country; WAEMU member; Financial sector stability; Anti-money laundering and combating the financing of terrorism (AML/CFT); Fiscal consolidation; Credit; Sub-Saharan Africa; West Africa
Cover IMF Staff Country Reports
Benin: Third Review under the Extended Fund Facility and the Extended Credit Facility Arrangements and Request for an Arrangement under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director
International Monetary Fund. African Dept.
This paper discusses Benin’s Third Review under the Extended Fund Facility (EFF) and the Extended Credit Facility (ECF) Arrangements and Request for an Arrangement under the Resilience and Sustainability Facility (RSF). Robust tax collection is supporting fiscal consolidation, complementing stepped-up budget support from Benin’s development partners and frontloaded Fund disbursements under the EFF/ECF. The RSF will support the authorities’ goal to mainstream climate considerations in policymaking and complement the EFF/ECF in supporting overall socio-economic resilience in Benin. Contingency planning is paramount, considering heightened uncertainty. The authorities should maintain flexibility in budget execution, including a phased approach to their public investment. Sustaining the ongoing reform drive to enhance the rule of law and the anticorruption framework will solidify the institutional foundations of private sector led growth that benefits all Beninese. Remaining vigilant vis-à-vis financial sector risks and promoting financial inclusion will support sustainable growth. They aim at addressing key structural challenges that expose Benin to climate shocks and should help mitigate balance of payment risks and catalyze other sources of climate financing.
Keywords:
government action program II; consolidation effort; RSF arrangement; RSF reform measures build; RSF desig