The major trends in terms of GDP growth rates, conditions of market forces, and the core inflation crisis in Botswana are analyzed in detail in the report. It has been suggested that although the recovery from the financial crisis of Botswana is the strongest compared with other middle-income countries, the overall results do not point toward a positive development in the economy. The need for authorities to take up certain measures and modify their methods of functioning is pivotal to Botswana's survival in the existing fragile economic environment
4b. Balance of Payments, 2016-25 (Percent of GDP)5. External Financing Requirements and Sources, 2019-25; 6. Indicators of Capacity to Repay the Fund, 2019-29; ANNEXES; I. Impact of Cyclone Kenneth on Macroeconomic Performance; II. Risk Assessment Matrix; III. External Stability Assessment; APPENDIX; I. Letter of Intent
Mozambique's economy is at a turning point, and efforts to address governance and corruption vulnerabilities can have a lasting positive impact. The current levels of public debt have caused us to take a hard look at our governance and anti-corruption framework and have prompted various reforms to address the vulnerabilities exposed in this framework. In general, the problems in our society, and specifically corruption, have been examined in detail recently and are clearly macro-critical. 2 One study estimated the costs of corruption to Mozambique during the period 2002 to 2014 at up to USD 4.9 billion (approximately 30 percent of the 2014 GDP).3 The impact of these costs is widespread, affecting taxpayers, public service providers, the financial and private sector, as well as Mozambique's international reputation. 4 These costs are especially harmful at a time when our country has been hit by a series of shocks, notably the fall in commodity prices, drought, the withdrawal of donor budget support, and, more recently, Tropical Cyclones Idai and Kenneth. At the same time, Mozambique stands poised to reap significant revenues from natural resource reserves, and our duty as the government is to ensure the responsible stewardship of those funds for both current and future generations. By taking meaningful steps now to implement the governance and anti-corruption framework in an evenhanded, consistent, and effective manner, and to support efforts toward transparency and individual and institutional accountability, as the government, we can aim to achieve enduring results.
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At the global level, inequality has declined substantially over the past three decades, but within national boundaries, the picture is mixed: some countries have experienced a reduction in inequality while others, particularly advanced economies, have seen a significant increase that has, among other things, contributed to growing public backlash against globalization. Excessive levels of inequality can erode social cohesion, lead to political polarization, and ultimately lower economic growth, but whether inequality is excessive depends on country-specific factors, including the growth context in which inequality arises, along with societal preferences. This Fiscal Monitor focuses on how fiscal policy can help governments address high levels of inequality while minimizing potential trade-offs between efficiency and equity. It documents recent trends in income inequality, including inequality both between and within countries, then examines the redistributive role of fiscal policies over recent decades and underscores the importance of appropriate design to minimize any efficiency costs. It then focuses on some key components of fiscal redistribution: progressivity of income taxation, universal basic income, and public spending policies for achieving more equitable education and health outcomes. The analysis relies on the existing theoretical and empirical literature, IMF work on inequality and fiscal policy, country experiences, and new analytical work, including various static microsimulation analyses based on household survey data. Simulations using a dynamic general equilibrium model calibrated to country-specific data and behavioral parameters illustrate the potential impact of alternative budget-neutral tax and transfer measures on income inequality and economic growth
This Selected Issues paper uses the case of the Slovak Republic to investigate how European Union (EU) countries can make optimal use of EU funds to reduce regional disparities. The findings suggest that high-quality government and a more educated population lead to better absorption of EU funds. There is also evidence that absorption increases when spending is more decentralized. Regions with a sufficient level of human capital and adequate institutions are more likely to spend the allocated funds efficiently and to experience growth as a result. With appropriate administrative and governance capacities, fighting corruption should therefore be the priority to speed absorption and allow for higher-quality projects
Foreword /Maurice Obstfeld --I. Thebig picture.What is capitalism? /Sarwat Jahan,Ahmed Saber Mahmud --What is Keynesian economics? /Sarwat Jahan, Ahmed Saber Mahmud,Chris Papageorgiou --Micro and macro: the economic divide /C. Chris Rodrigo --Economic models: simulations of reality /Sam Ouliaris --Econometrics: making theory count /Sam Ouliaris --Supply and demand: why markets tick / Irena Asmundson --Gross domestic product: an economy's All /Tim Callen --Monetarism: money is where it's at /Sarwat Jahan,Chris Papageorgiou --II.How economies function.What is direct investment? /Tadeusz Galeza and James Chan --Theoutput gap: veering from potential /Sarwat Jahan,Ahmed Saber Mahmud --Structural policies: fixing the fabric of the economy /Khaled Abdel-Kader --Money: at the center of transactions /Irena Asmundson,Ceyda Oner --Price : the language of exchange /Irena Asmundson --Inflation: prices on the rise /Ceyda Oner --Unemployment: the curse of joblessness /Ceyda Oner --
Uruguay has achieved more than a decade of high and inclusive economic growth, supported by social stability and reduced regional linkages. The country has weathered the recent global and regional headwinds relatively well so far. Yet the economy is slowing down, while inflation remains above target, and deposit dollarization has risen. While the baseline projection foresees a temporary and moderate slowdown, the country is exposed to further shocks, especially from the immediate region
