El Salvador: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for El Salvador PDF Download
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Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 114
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Book Description
The pandemic interrupted ten years of growth, but El Salvador is rebounding quickly. Robust external demand, resilient remittances, and a sound management of the pandemic—with the help of a disbursement under the Rapid Financing Instrument (RFI) (SDR287.2 million or US$389 million) approved in April 2020—are supporting a strong recovery. Persistent fiscal deficits and high debt service are leading to large and increasing gross fiscal financing needs.
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 114
Get Book Here
Book Description
The pandemic interrupted ten years of growth, but El Salvador is rebounding quickly. Robust external demand, resilient remittances, and a sound management of the pandemic—with the help of a disbursement under the Rapid Financing Instrument (RFI) (SDR287.2 million or US$389 million) approved in April 2020—are supporting a strong recovery. Persistent fiscal deficits and high debt service are leading to large and increasing gross fiscal financing needs.
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513588141
Category : Business & Economics
Languages : en
Pages : 82
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Book Description
After over two decades of unprecedented economic expansion, Panama’s economy contracted sharply in 2020 amidst challenges from the COVID-19 pandemic. As conditions rapidly deteriorated, Panama requested financial support under the Rapid Financing Instrument (RFI) for 100 percent of quota equivalent to US$0.5 billion (SDR 0.4 billion) to address immediate balance of payments needs, which the IMF Executive Board approved on April 15, 2020. Subsequently, uncertainties magnified, and Panama requested a two-year arrangement under the Precautionary and Liquidity Line (PLL) for 500 percent of quota, equivalent to US$2.7 billion (SDR 1.9 billion), as insurance against extreme external shocks, which was approved by the IMF Executive Board on January 19, 2021.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264644660
Category :
Languages : en
Pages : 502
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Book Description
El Salvador has made significant development progress in the past 30 years. The end of the civil war in 1992 marked the establishment of a liberal democracy and an open export-led development model, which led to a reduction in poverty and inequality. However, with economic growth averaging a modest 2.4% in the years before the COVID-19 pandemic, and productivity growth of 0.1% over the past decade, the post-war model has not generated the economic momentum or the jobs that the country needs.
Author: Ms. Burcu Hacibedel
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 35
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Book Description
Failures in the crypto space—including the fall of Terra USD and the FTX debacle—have sparked calls for strengthening countries’ policy frameworks for crypto assets, including by enhanced regulation and supervision. How have these heightened concerns about crypto assets been picked up in systemic risk assessment, and what can be done going forward? In this paper, we introduce a conceptual macrofinancial framework to understand and track systemic risks stemming from crypto assets. Specifically, we propose a country-level Crypto-Risk Assessment Matrix (C-RAM) to summarize the main vulnerabilities, useful indicators, potential triggers and potential policy responses related to the crypto sector. We also discuss how experts and officials can weave in specific vulnerabilities stemming from crypto asset activity into their assessment of systemic risk, and how they can provide policy advice and take action to help contain systemic risks when needed.
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513596020
Category : Business & Economics
Languages : en
Pages : 93
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Book Description
Sultan Haitham ascended to the throne in January 2020 and has committed to implementing strong fiscal and structural reforms to address longstanding vulnerabilities. In addition to persistent fiscal deficits arising from incomplete adjustment to lower oil prices since 2015, Oman faced twin shocks from the COVID-19 pandemic and a collapse in oil prices in 2020 that amplified fiscal and external vulnerabilities. The authorities moved rapidly to contain the spread of COVID-19 infections and provided broad-based policy measures to limit its impact on the economy. In addition, frontloaded fiscal consolidation has been implemented in the 2021 budget as part of the authorities’ Medium-Term Fiscal Plan (MTFP) which aims to eliminate the fiscal deficit over the medium term. Banks have high capital buffers and liquidity, but credit risk is a concern going forward. Structural reforms have been accelerated under Oman Vision 2040 to boost non-oil private sector growth and facilitate job creation.
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513590030
Category : Business & Economics
Languages : en
Pages : 93
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Book Description
Côte d’Ivoire has shown strong resilience to the pandemic, owing to the authorities’ swift policy reaction and to a decade of sound macroeconomic policies, as well as the support of the international community including the IMF.
Author: Gerardo Uña
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 36
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Book Description
Fintech payments leverage large digital platforms to fill gaps in the traditional payment system. They have made great strides in increasing access to payment services in several countries around the globe. At the same time, like any innovation, the new payment models are exposed to risks in their operating environment. We review the main fintech payment models (mobile money, internet-based fintech payment, and digital money) and discuss operational and financial risks as well as challenges they face. We then explore how public financial management (PFM), especially treasury payments and non-tax revenue collections, could benefit from fintech payments by providing examples of early fintech applications in different countries and discuss the challenges of integrating them into the public sector. The use of fintech in public finance could bring various benefits—including strengthening fiscal transparency, improving budget planning and execution, and upgrading cash management—if public sector institutional and technological capacities are strengthened and risks are adequately mitigated.
Author: Komla Dzigbede
Publisher: Edward Elgar Publishing
ISBN: 1800379714
Category : Political Science
Languages : en
Pages : 459
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Book Description
This scholarly Research Handbook captures key observations and analyses within the field of public financial management. It offers much-needed insights into possible future research ventures while presenting contemporary summaries of past studies in this ever-evolving field.
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1484359720
Category : Business & Economics
Languages : en
Pages : 73
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Book Description
This 2018 Article IV Consultation highlights that the real GDP of El Salvador grew above potential, at 2.3 percent in 2017, supported by lower oil prices, continued United States (U.S.) recovery, and a surge in remittances. However, El Salvador’s growth continues to lag regional peers. Inflation remained low at 1 percent, anchored by dollarization. In 2018–19, growth is expected to remain above potential at 2.3 percent, reflecting the temporary acceleration of the U.S. growth from the recent U.S. tax reform and higher grant-financed investment. The fiscal deficit would further fall to 2.2 percent of GDP in 2018, as savings from the pension reform kick in, but would rise to 2.7 percent of GDP in 2019.
Author: Diaz-Bonilla, Eugenio
Publisher: Intl Food Policy Res Inst
ISBN:
Category : Political Science
Languages : en
Pages : 72
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Book Description
In 2019 almost 45 million immigrants lived in the United States, or about 13.7% of the total population, approaching the record high of 14.8% in 1890. Of that total, about 77% are lawful residents (either nat-uralized, permanent residents, or temporary residents), and the difference (about 23% or 11 million per-sons) are illegal immigrants. Both in the case of legal and illegal immigrants, the largest percentage is from Mexico (24% of the legal immigrants and somewhat less than 50% of the illegal ones, but those percentages have been declining since the mid-2000s). About 20% of the illegal immigration living in the US in 2017 came from Central America, principally El Salvador, Honduras and Guatemala (Ameri-can Immigration Council, 2021 and Passel and D’Vera Cohn, 2019). Overall, these three countries are the origin of about 3.3 million immigrants (legal and illegal) in the US in 2019 (Babich and Batalova, 2021).
