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International Monetary Fund
In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for selected Fund activities (the “SFA Instrument”). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of a subaccount within the SFA. The subaccount for the East Africa Regional Technical Assistance Center (AFRITAC East) would be the third one under the SFA. This paper requests Executive Board approval to establish the AFRITAC East subaccount under the terms of the SFA Instrument.
International Monetary Fund. External Relations Dept.
For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.
International Monetary Fund. External Relations Dept.
Para estar al corriente del pensamiento actual sobre el sistema financiero internacional, la política monetaria, el desarrollo económico, la reducción de la pobreza y otros temas cruciales, suscríbase a Finanzas y Desarrollo. Esta amena revista trimestral ofrece análisis profundos del personal técnico del FMI y destacados expertos internacionales sobre estas y otras cuestiones. Los artículos están dirigidos a un público no especializado que desea comprender mejor el funcionamiento de la economía mundial y las políticas y actividades del FMI.
International Monetary Fund. External Relations Dept.
Pour les dernières idées sur le système financier international, la politique monétaire, le développement économique, la lutte contre la pauvreté et d’autres questions importantes, abonnez-vous à Finances & Développement (F&D). Ce trimestriel attrayant présente des analyses approfondies sur ces thèmes et d'autres sujets, rédigées par les membres des services du FMI ainsi que par des experts de renommée internationale. Les articles sont écrits pour les non-spécialistes qui souhaitent enrichir leur compréhension des rouages de l'économie mondiale et des politiques et activités du FMI.
International Monetary Fund. External Relations Dept.
This paper explores why increased aid flows require economic policymakers to confront some specific issues. Ensuring that increased aid promotes growth and reduces poverty is certainly the most important task. Empirical studies offer only mild support for aid-boosting growth. However, one study suggests that once one excludes the aid flows aimed at political and humanitarian goals, a positive net effect is observed for the remaining aid focused on economic objectives. This paper also outlines the roles to be played by development partners for making the aid being properly utilized for boosting growth.
International Monetary Fund

Abstract

The year 2005 marks an important juncture for development as the international community takes stock of implementation of the Millennium Declaration—signed by 189 countries in 2000—and discusses how progress toward the Millennium Development Goals (MDGs) can be accelerated. The MDGs set clear targets for reducing poverty and other human deprivations and for promoting sustainable development. What progress has been made toward these goals, and what should be done to accelerate it? What are the responsibilities of developing countries, developed countries, and international financial institutions? Global Monitoring Report 2005 addresses these questions. This report, the second in an annual series assessing progress on the MDGs and related development outcomes, has a special focus on Sub-Saharan Africa—the region that is farthest from the development goals and faces the toughest challenges in accelerating progress. The report finds that without rapid action to accelerate progress, the MDGs will be seriously jeopardized—especially in Sub-Saharan Africa, which is falling short on all the goals. It calls on the international community to seize the opportunities presented by the increased global attention to development to build momentum for the MDGs. The report presents in-depth analysis of the agenda and priorities for action. It discusses improvements in policies and governance that developing countries need to make to achieve stronger economic growth and scale up human development and relevant key services. It examines actions that developed countries need to take to provide more and better development aid and to reform their trade policies to improve market access for developing country exports. And it evaluates how international financial institutions can strengthen and sharpen their support for this agenda. Global Monitoring Report 2005 is essential reading for development practitioners and those interested in international affairs.

International Monetary Fund
This paper assesses Ethiopia’s 2002 Article IV Consultation and Third Review Under the Poverty Reduction and Growth Facility (PRGF) Arrangement. Performance under the first annual PRGF-supported program was good, and the second annual program remains on track. All the quantitative and structural performance criteria and benchmarks for December 2001 and March 2002 were met, with the exception of the revised regulation for the provisioning by banks for nonperforming loans, which was adopted, but was not fully in line with international best practice, as had been envisaged.
International Monetary Fund
This paper assesses Ethiopia’s Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), and Requests for Augmentation of Access and for Waiver of Performance Criterion, and Second Annual Program. Performance under the first annual PRGF-supported program was satisfactory in the context of Ethiopia’s steady progress toward peace with Eritrea. All quantitative and structural performance criteria through October 2001 were observed, with the exception of the adjusted performance criterion on the net domestic assets of the National Bank of Ethiopia, for which the authorities request a waiver.
International Monetary Fund
The paper presents statistical data on gross domestic product by sector, agricultural production, regional structure of the agricultural sector, food grain position, annual catch and sales of fish, and gross value of public enterprise production of Eritrea. It also includes data on Assab refinery production, purchases and sales by Eritrea, ex-refinery and retail prices of petroleum products, summary of developments in the labor market, structure of private sector wages, summary of government operations, distribution of net foreign assets, balance of payments, and other related economic indices.
Mr. Michael Keen and Ms. Jenny E Ligthart
A key obstacle to fundamental tariff reform in many developing countries is the revenue loss that it ultimately implies. This paper establishes a simple and practicable strategy for realizing the efficiency gains from tariff reform without reducing public revenues, showing that for a small open economy, a cut in tariffs combined with a point-for-point increase in domestic consumption taxes increases both welfare and public revenues. Increasingly stringent conditions are required, however, to ensure unambiguously beneficial outcomes from this reform strategy when allowance is made for such important features as nontradeable goods, intermediate inputs, and imperfect competition.