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Law > Business and Financial

You are looking at 1 - 5 of 5 items for :

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Cover IMF Staff Country Reports
Jamaica: Sixth Review Under the Stand-By Arrangements-Press Release; Staff Report; and Statement by the Executive Direct for Jamaica
International Monetary Fund. Western Hemisphere Dept.
This paper discusses Jamaica’s Sixth Review Under the Stand-By Arrangement (SBA). All quantitative performance criteria, indicative targets, and the structural benchmark at end-June were met, marking a successful completion of the SBA. Discussions centered on policies to lock-in macroeconomic stability and advance supply-side reforms to promote inclusive growth, including: building institutions and advancing fiscal reforms to safeguard and sustain economic stability and debt reduction; improving monetary operations and policy transmission; and bolstering financial inclusion, access to credit, and formality. Most structural policy commitments are on track, although some key reforms to public sector transformation, the compensation framework for public employees, legislation to establish a fiscal council, and creating a special resolution regime for financial institutions have been delayed due to capacity constraints and the need to build stakeholder support for these reforms. Important gains have been made in the oversight of financial institutions.
Keywords:
ISCR; CR; policy; IMF's Executive Board; governance framework; reform commitment; government; implementing policy; fund program arrangement; Public sector; PFM legal and regulatory frameworks; Fuel prices; Global
Cover IMF Staff Country Reports
Morocco: Ex Post Evaluation of Exceptional Access Under the 2012 Precautionary and Liquidity Line Arrangement
International Monetary Fund. Middle East and Central Asia Dept.
This paper discusses Morocco’s Ex Post Evaluation of Exceptional Access Under the 2012 Precautionary and Liquidity Line (PLL) Arrangement. The Ex Post Evaluation confirms that the 2012–14 PLL arrangement was consistent with the PLL qualification standards and requirements under the exceptional access policy at the time of the PLL arrangement request in August 2012 and at the subsequent reviews. The authorities’ policies helped maintain macroeconomic stability and reduce fiscal and external vulnerabilities, despite unfavorable external developments. It is observed that despite the significant macroeconomic achievements under the 2012–14 PLL arrangement, a number of policy challenges remained to be fully addressed.
Keywords:
IMF Deputy managing director; fund policy; draft central bank bank charter; PLL exit; PLL eligibility; government action; Government debt management; Oil prices; Fiscal stance; Current account deficits; Global; Europe; Maghreb; Sub-Saharan Africa
Cover IMF Staff Country Reports
Angola: Second and Third Reviews Under the Stand-By Arrangement and Request for Waivers of Nonobservance of Two Performance Criteria
International Monetary Fund
Angola has made significant progress toward economic stabilization. Under the Stand-By Arrangement (SBA), the government’s key fiscal anchor is the non-oil primary fiscal deficit (NOPD), and the revised 2010 budget is determined to avoid any increase in the non-oil primary deficit. Policy discussions focused on the fiscal stance for the remainder of 2010, and in 2011, the resolution framework for clearing domestic arrears payment, reforming the tax system, strengthening the asset-liability management capacity, and improving the tools for monetary management.
Keywords:
ISCR; CR; resolution program; monetary policy; government; disbursement of SDR; management; August budget revision; fiscal policy stance; prudent monetary policy; Arrears; Fiscal stance; Global
Cover IMF Staff Country Reports
United Republic of Tanzania: Third Review Under the Policy Support Instrument: Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Tanzania
International Monetary Fund
Tanzania’s performance ranks among the best for non-oil exporting countries in sub-Saharan Africa. The 2008/09 budget will aim at maintaining hard-won fiscal stability in the face of large spending needs and uncertain financing. Tighter budget constraints highlight the need to further expand the revenue base and achieve greater efficiency and effectiveness of government spending. Building on its recent success of reining in reserve money growth, the Bank of Tanzania (BoT) will aim to gradually bring down inflation to its medium-term objective of 5 percent.
Keywords:
ISCR; CR; WEO oil price projection; fund; authority; ban; Tanzania's economic growth prospect; world economic growth; staff appraisal; power sector reform agenda; Trade balance; Global; Southern Africa; Africa
Cover IMF Staff Country Reports
United Arab Emirates: 2004 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the United Arab Emirates
International Monetary Fund
This 2004 Article IV Consultation highlights that the macroeconomic performance of United Arab Emirates is estimated to have been strong in 2003, reflecting favorable developments in the oil market, higher oil production, and prices. Non-hydrocarbon real GDP growth is estimated to have remained robust at about 5 percent, one of the highest in the Gulf Cooperation Council area. Several projects were launched in 2003 in the areas of construction, upstream gas, and downstream oil services. Progress in introducing structural reforms has varied among the Emirates.
Keywords:
ISCR; CR; government; authority; U.A.E. authorities; private sector; economy; economy well; government of Abu Dhabi; economic development strategy; prudent approach; CFT regime; Oil; Oil prices; Exports; Foreign assets; Global; Middle East; North Africa; Central Asia; East Africa