Suchergebnisse

This paper discusses Nigerâ??s Second and Third Reviews Under the Extended Credit Facility (ECF) Arrangement and Requests for Waivers of Nonobservance of Performance Criteria and for Extension of the Program Period and Arrangement. Fiscal performance was broadly in line with program targets. The medium-term outlook appears favorable, with robust growth benefiting from important natural resource sector investments. However, the outlook is vulnerable to high domestic and external risks, including potential spillovers from the security situation in the region and climatic shocks. The IMF staff re

KEY ISSUESSetting: Swaziland has gradually recovered from the fiscal crisis of 2010-11, buoyed by the improved revenues from the Southern African Customs Union (SACU). Growth modestly recovered, and international reserves rebounded. Swaziland's challenges, however, remain significant, in view of its high vulnerability to exogenous shocks and its sluggish growth performance, while facing significant social and development challenges with high unemployment and the prevalence of HIV/AIDS. Swaziland now stands at a critical juncture to strengthen its resilience to exogenous shocks, address its w

This chapter discusses key findings of the Poverty Reduction Strategy Paper progress report on the Republic of Mozambique. The monitoring of 62 output indicators of the 2013 Plano Económico e Social showed that 44 percent of the indicators have achieved the planned targets, 50 percent have not attained the targets but have made significant progress, and the remaining 6 percent of the indicators are lagging far behind. In terms of objectives, the human development objective is showing the best performance, whereas promotion of employment still has challenges and constraints to overcome in fulfi

EXECUTIVE SUMMARYZimbabweâ??s performance under the Staff-Monitored Program (SMP) has beenbroadly satisfactorily through the difficult electoral transition period, and the authorities have taken corrective measures to restore a track record of policy implementation going forward. In the attached Letter of Intent (LOI), the authorities outline progress in implementing the SMP; the agreed quantitative targets and structural benchmarks to be monitored for the third review; and their plans to advance the structural reform agenda and to more generally strengthen performance under the SMP.Performanc

Cover -- CONTENTS -- INCLUSIVE GROWTH IN BURKINA FASO -- A. Growth in Burkina Faso -- B. Inclusiveness of Growth in Burkina Faso -- C. Social Indicators -- D. Measures to Make Growth More Inclusive -- E. Constraints to Inclusive Growth -- BOX -- 1. Strategy for Accelerated Growth and Durable Development -- FIGURES -- 1. Human Development Indicators and Public Expenditure, 2005-12 -- 2. Business Environment and Governance -- TABLE -- 1. Selected Indicators, 1994-2009 -- REFERENCES -- AN OVERVIEW OF THE COTTON SECTOR IN BURKINA FASO -- A. History -- B. Economic Structure and Risks -- BOXES

KEY ISSUESEconomic context. Growth has been strong, inflation low, and fiscal buffers and international reserves adequate. However, poverty and unemployment remain high, despite large government spending financed from oil revenue. The business climate is among the most challenging and the private credit-to-GDP ratio among the lowest in sub-Saharan Africa (SSA).Outlook and Risks. The economy is projected to expand by about 6 percent per annum between 2014 and 2019, as new oil fields come on stream and an ambitious public investment program is implemented to diversify the economy and make growth

EXECUTIVE SUMMARYEconomic activity remained weak in early 2014. Activity was impacted by an outbreak ofthe Ebola virus since late 2013, but lagging structural reforms, energy shortages, and political uncertainty may also be at play. Economic growth is estimated to have been 2.3 percent in 2013, and is projected at 3.5 percent in 2014, supported by higher public investment and assuming a gradual start-up of new mining sector investment. Inflation fell to below10 percent year-on-year in May 2014, international reserves covered 3.6 months of imports by end-2013, and the exchange rate has remained

EXECUTIVE SUMMARYDonors have suspended some aid disbursements to Malawi in response to a scandalinvolving the theft of public funds. A group of public servants exploited weaknesses in thecontrol environment of the government's Integrated Financial Management Information System(IFMIS) to make fraudulent payments to several entities that had not provided any goods orservices to the government. The authorities are implementing an Action Plan of remedialmeasures to prevent the recurrence of the fraud. Key elements of the action plan includestrengthening security and management of IFMIS, a forensic

Cover -- Table of Contents -- LIST OF TABLES -- LIST OF FIGURES -- LIST OF MAPS -- LIST OF BOXES -- ACRONYMS AND ABBREVIATIONS -- EXECUTIVE SUMMARY -- INTRODUCTION -- CHAPTER 1: SOCIAL AND ECONOMIC OVERVIEW -- 1.1. ECONOMIC PERFORMANCE 2008-2011 -- 1.1.1. Growth -- 1.1.2. Financial and External Equilibria -- 1.1.3. Competitiveness and Input Costs -- 1.1.4. Structural Reforms and Business Climate -- 1.1.5. Infrastructure and Support to Growth -- 1.2. SOCIAL SITUATION -- 1.2.1. State of the Population -- 1.2.2. Level of Human Resources Development -- 1.2.3. Poverty and Inequality in Togo

KEY ISSUESBackground, outlook, and risks. Economic growth is projected to remain strong at 7 percent next year and in the medium term. Inflation is at 6 percent, gradually converging to the authorities' 5 percent medium term objective. The external current account deficit remains among the largest in the region, at 14 percent of GDP this year. Fiscal revenue shortfalls and overruns in domestically-financed spending led the deficit to rise to 6.8 percent of GDP in 2012/13. Revenue shortfalls in 2013/14 compared to the budget approved by parliament have prompted the authorities to undertake expe

KEY ISSUESContext: Angola has returned to a path of solid economic growth, with single-digit inflation, a strong international reserves position, and a stable exchange rate. The authorities have made progress in strengthening some areas of fiscal and monetary policies. However, recurrent domestic arrears and the reconciliation of oil revenue remain as challenges for public financial management.Outlook and risks: Growth is projected to have slowed to 4 percent in 2013, but is expected to increase to 5 percent in 2014 as oil production recovers. The non-oil sector continues to grow strongly, as

KEY ISSUESContext: Chad is a fragile country with weak institutional capacity that needs to manage volatile and exhaustible oil revenues prudently to tackle its large development needs.Chad is enjoying a period of domestic political stability, but major regional security issues are imposing significant fiscal costs in both the short and medium term.Macroeconomic policy over the last few years has achieved a gradual tightening of the underlying fiscal policy stance together with a sizable increase in public investment.Satisfactory performance under an SMP in 2013 demonstrated the authorities''

This paper reviews Maliâ??s 2012â??2017 Poverty Reduction and Growth Strategy Paper. Maliâ??s GDP was CFAF 1,741.89 billion in 2012; real growth was ?1.2 percent, that is, excluding inflation (2.7 percent in 2011). The decline of 3.9 points in growth between 2011 and 2012 was finally stemmed, despite the major shocks that Mali had to face in 2012. The dual security and institutional shock had a negative impact on the entire economy, and more particularly on certain subsectors such as construction and public works, the hotel industry, and commerce. The GDP growth rate was ?1.2 percent in 2012

KEY ISSUESContext. Despite recent strong non-oil growth, poverty and income inequality remainhigh and social and governance indicators are below averages for sub-Saharan Africa. Structural reforms under the Transformation Agenda are ongoing, but significant infrastructure gaps and weak institutional capacity still retard growth prospects. At the same time, vulnerabilities are rising in the buildup to general elections in 2015 and fiscal buffers have been reduced. Meanwhile, GDP is being rebased and structural shifts may suggest a refocus in some policy areas.Outlook and Risks. Growth is expect