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Author: Mr.David Coady
Publisher: International Monetary Fund
ISBN: 1475566948
Category : Business & Economics
Languages : en
Pages : 23
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Book Description
Many developing and emerging countries do not fully pass-through increases in international fuel prices to domestic retail prices, with adverse consequences for fuel tax revenues and tax volatility. The adoption of an automatic fuel pricing mechanism can help to address this problem, and the incorporation of a price smoothing mechanism can ensure pass-through over the medium term but also avoid sharp increases (and decreases) in domestic prices. This technical note addresses the following issues: (i) the design of an automatic fuel pricing mechanism; (ii) the incorporation of domestic price smoothing and resulting tradeoffs; (iii) the transition from ad hoc pricing adjustments to an automatic mechanism; and (iv) policies to support this transition and the maintenance of an automatic mechanism. A standardized template for simulating and evaluating the implications of alternative pricing mechanisms for price and fiscal volatility is available on request.
Author: Mr.David Coady
Publisher: International Monetary Fund
ISBN: 1475566948
Category : Business & Economics
Languages : en
Pages : 23
Get Book Here
Book Description
Many developing and emerging countries do not fully pass-through increases in international fuel prices to domestic retail prices, with adverse consequences for fuel tax revenues and tax volatility. The adoption of an automatic fuel pricing mechanism can help to address this problem, and the incorporation of a price smoothing mechanism can ensure pass-through over the medium term but also avoid sharp increases (and decreases) in domestic prices. This technical note addresses the following issues: (i) the design of an automatic fuel pricing mechanism; (ii) the incorporation of domestic price smoothing and resulting tradeoffs; (iii) the transition from ad hoc pricing adjustments to an automatic mechanism; and (iv) policies to support this transition and the maintenance of an automatic mechanism. A standardized template for simulating and evaluating the implications of alternative pricing mechanisms for price and fiscal volatility is available on request.
Author: Mr.David Coady
Publisher: International Monetary Fund
ISBN: 1475571194
Category : Business & Economics
Languages : en
Pages : 23
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Book Description
Many developing and emerging countries do not fully pass-through increases in international fuel prices to domestic retail prices, with adverse consequences for fuel tax revenues and tax volatility. The adoption of an automatic fuel pricing mechanism can help to address this problem, and the incorporation of a price smoothing mechanism can ensure pass-through over the medium term but also avoid sharp increases (and decreases) in domestic prices. This technical note addresses the following issues: (i) the design of an automatic fuel pricing mechanism; (ii) the incorporation of domestic price smoothing and resulting tradeoffs; (iii) the transition from ad hoc pricing adjustments to an automatic mechanism; and (iv) policies to support this transition and the maintenance of an automatic mechanism. A standardized template for simulating and evaluating the implications of alternative pricing mechanisms for price and fiscal volatility is available on request.
Author: International Monetary Fund. Fiscal Affairs Dept.
Publisher: International Monetary Fund
ISBN: 1475565372
Category : Business & Economics
Languages : en
Pages : 36
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Book Description
This Technical Assistance Report on Mali discusses automatic pricing mechanism options and identifies issues that need to be addressed for the application of such a mechanism. Mali stands to benefit from moving from the current discretionary approach to fuel product pricing to a transparent and automatic price adjustment mechanism. Although smoothing can help to mitigate the adverse impact of price increases and volatile international fuel prices, additional supporting policies are warranted. In particular, an effective safety net is required to protect the poorest and most vulnerable groups from the adverse impacts of sizeable domestic fuel price increases.
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1513512269
Category : Business & Economics
Languages : en
Pages : 67
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Book Description
This Selected Issues paper analyzes energy price reform in Kuwait. It emphasizes that Kuwait should take advantage of current low global energy prices to strengthen efforts to reform domestic energy prices. In the longer term, this would benefit growth by increasing efficiency in the economy and creating space for higher public and private investment. In the short-term, one-off effects on inflation should be manageable. Productive activities more sensitive to energy costs, particularly the transport sector, would be able to adjust to higher energy prices more easily if the reform is gradual.
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1513519085
Category : Business & Economics
Languages : en
Pages : 58
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Book Description
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.
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1513505076
Category : Business & Economics
Languages : en
Pages : 85
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Book Description
This Selected Issues paper assesses the importance of oil and interest rate spillovers for Saudi Arabia. Oil prices have fallen by more than 40 percent since mid-2014 while the Federal Reserve is expected in the coming months to begin raising its policy rate at the beginning of a gradual tightening cycle. Given the importance of oil to the economy and the peg of the riyal to the U.S. dollar, these are two key developments for Saudi Arabia. Although a temporary drop in oil prices would likely have little effect on the economy and banks given the financial cushions that have been built-up, a longer-lasting period of low oil prices would have a more significant impact.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1475517580
Category : Business & Economics
Languages : en
Pages : 101
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Book Description
This 2012 Article IV Consultation highlights that despite a difficult economic and social context, Burundi has made steady, though uneven, progress in implementing its Extended Credit Facility (ECF)-supported economic reforms. Real GDP growth is estimated to have increased to 4.2 percent in 2011. The medium-term macroeconomic outlook is challenging. Risks emanate from a delicate social situation given persistent shocks and the high cost of living. Executive Directors have emphasized the importance of pursuing public financial management reforms to foster greater transparency and accountability, and to strengthen institutional capacity.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484327438
Category : Business & Economics
Languages : en
Pages : 76
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Book Description
The article reviews Mauritius’ developments and its macroeconomic policies for the imminent years. Growth has been flexible in these years but the postglobal crisis period did not show any remarkable developments. The country was heavily dependent on European exports and vulnerable to external shocks. To undergo debt and external sustainability in 2014–15, the authorities are reframing fiscal and monetary policies, restructuring physical infrastructure policies, and pension and labor reforms. The control of excess of liquidity and improvement in national savings will pave the way to reduce inflation pressures and external imbalances.
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1484382293
Category : Business & Economics
Languages : en
Pages : 79
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Book Description
A three-year arrangement for Mongolia under the Extended Fund Facility (EFF) was approved on May 24, 2017, in an amount equivalent to SDR 314.5054 million (435 percent of quota, or about $425 million). The arrangement is part of a $5.5 billion multi-donor financing package that supports the authorities’ Economic Recovery Plan. The extended arrangement is subject to quarterly reviews.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 84
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Book Description
Cameroon’s recovery has continued, despite security concerns and external risks, including tight global financial conditions and increased oil price volatility. Cameroon is a fragile and conflict affected state, with drivers of fragility ranging from insurgency and conflicts along its borders and in neighboring countries, to poor governance, social exclusion, and climate change. Nevertheless, economic prospects remain positive in the medium term, provided reforms continue, and the external environment is supportive. The three-year arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) approved in July 2021 amount to SDR (Special Drawing Rights) 483 million (about US$689.5 million, or 175 percent of quota). Completion of the fourth review will allow a disbursement of SDR 55.2 million (about US$73.3 million).
