Guatemala: 2022 Article IV Consultation-Press Release; Staff Report; and Informational Annex PDF Download
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Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 75
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Book Description
The remarkable resilience of the economy during the pandemic, driven by policy support, favorable credit conditions and a favorable external environment, has almost returned the level of GDP to its pre-pandemic projected trend. Reflecting the prevalence of domestic factors, headline inflation eased to 3 percent (the lower limit of the inflation target band) at end-2021. For 2022, growth is expected to moderate while inflation is expected to rise in line with global inflationary pressures. Despite the resilience, social indicators such as poverty and malnutrition remain high. The outlook is very uncertain with significant downside risks, mostly external, including from the pandemic, geopolitical tensions, and the tightening of global financial conditions in response to global inflationary pressures.
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 75
Get Book Here
Book Description
The remarkable resilience of the economy during the pandemic, driven by policy support, favorable credit conditions and a favorable external environment, has almost returned the level of GDP to its pre-pandemic projected trend. Reflecting the prevalence of domestic factors, headline inflation eased to 3 percent (the lower limit of the inflation target band) at end-2021. For 2022, growth is expected to moderate while inflation is expected to rise in line with global inflationary pressures. Despite the resilience, social indicators such as poverty and malnutrition remain high. The outlook is very uncertain with significant downside risks, mostly external, including from the pandemic, geopolitical tensions, and the tightening of global financial conditions in response to global inflationary pressures.
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category :
Languages : en
Pages : 102
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Book Description
Guatemala has weathered many crises well. Its 's economy has proved resilient, building on a solid track-record of prudent policies--low fiscal deficits and debt-to-GDP ratio, and high international reserves--and strong remittance inflows. After a strong rebound in 2021, Guatemala's economy has been slowing down--with GDP growth halving to a solid 4.1 percent in 2022. Inflation increased in 2022 but peaked in February 2023 (9.9 percent, year-on-year) to drop to 8.71 percent in March 2023. At the same time, public investment tends to be under-executed, poverty remains high, and tax revenue is weak, while substantial institutional, investment, and social gaps and governance weaknesses hinder progress. Addressing these requires higher broad-based and inclusive growth and further progress in the reform agenda. The authorities' goal to attain investment grade and attract foreign investment could unlock opportunities. General elections are due June 25, 2023 (the second round on August 20, if needed).
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN:
Category :
Languages : en
Pages : 84
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Book Description
Guatemala's economy continues to grow at its potential given existing constraints, with inflation within the monetary policy’s target. While political risks remain latent, Guatemala maintains its long-standing track record of macroeconomic stability and prudent policies anchored in a low-growth equilibrium. The country has accumulated large buffers, with large remittance inflows and low-deficit policies. Meanwhile, the country faces important challenges, but the fragmented political landscape in Congress, following the 2023 general election, gives limited space to pass a reform agenda to address its long-standing vulnerabilities—i.e., chronic infrastructure, human capital, and social gaps; low tax revenue and gaps in public spending efficiency and transparency; weak governance, corruption, and weak institutions. The window of opportunity to advance is narrowing. In April, S&P upgraded Guatemala's outlook to positive from stable, while maintaining its BB rating.
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 66
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Book Description
Ireland’s economy has rebounded strongly from the pandemic. GDP surpassed its pre-pandemic trend in 2021:Q4—one of the few euro area countries to do so. COVID-support measures have been appropriately unwound, and the fiscal position improved significantly. The financial sector weathered the pandemic crisis well and remains resilient. While the outlook is strong, uncertainty is substantial due to the indirect impacts of the war in Ukraine. Several pre-pandemic challenges remain: housing shortages, infrastructure, social and green investment gaps, and the need to strengthen multinational enterprises’ inward linkages to broaden growth and make it more inclusive. There is also a need to address the Global Financial Crisis (GFC) legacy effects on the financial system and tackle the factors contributing to high lending interest rates.
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1513517058
Category : Business & Economics
Languages : en
Pages : 62
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Book Description
This 2019 Article IV Consultation with Lebanon highlights that Lebanon’s economic position continues to be very difficult, with very low growth, high public debt and large twin deficits. While financial stability has been maintained, deposit inflows, critical to finance the budget and external deficits, slowed down during the past year, reducing the authorities’ room for manoeuvre. The new government has taken some important policy steps to start the needed policy adjustment, which could help raise confidence among investors and donors. The highest priority is the implementation of a sustainable fiscal adjustment that will bend down the path of the public debt-to-gross domestic product ratio through a combination of revenue and expenditure measures. This needs to be complemented by structural reforms and concessionally financed investment to raise Lebanon’s growth potential and help external adjustment, as well as policies to build further buffers in Lebanon’s financial sector. Structural reforms should prioritize reforming the electricity sector, removing impediments to and lowering the cost of doing business, as well as improving governance and reducing corruption.
Author:
Publisher:
ISBN:
Category : Guatemala
Languages : en
Pages : 70
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Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1484360079
Category : Business & Economics
Languages : en
Pages : 73
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Book Description
This 2018 Article IV Consultation highlights that a sound monetary policy management in Guatemala has helped keep inflation expectations firmly anchored. Fiscal deficits have remained at decade lows on the back of low debt tolerance and inadequate budgetary execution. Terms of trade gains and an upsurge in remittances inflows moved the current account into a sizable surplus. The financial system is sound and well-regulated while vulnerabilities seem manageable. Growth performance nevertheless falls shorts of the rates needed to achieve Guatemala’s aspirations to meaningfully lift the living standards of its citizens. Near-term growth prospects remain subdued, at 3.2 percent in 2018 and 3.6 percent in 2019.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1513537377
Category : Business & Economics
Languages : en
Pages : 78
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Book Description
This 2019 Article IV Consultation focuses on Botswana near- and medium-term challenges and policy priorities and was prepared before COVID-19 became a global pandemic and resulted in unprecedented strains in global trade, commodity, and financial markets. Gross domestic product growth is forecasted to pick up to 4.4 percent in 2020 and 5.6 percent in 2021 as the diamond industry recovers somewhat, and a new copper mine comes on stream. Growth will ease back to around 4 percent over the medium term. Risks to the outlook include faster-than-anticipated slowdown in key trading partners, shifts in consumer preferences to synthetic diamonds, and climate shocks. The size and pace of the planned adjustment are consistent with Botswana’s fiscal space, but the composition of the adjustment should protect efficient capital and social spending. Furthermore, given that buffers are being eroded, it is critical that consolidation starts as envisaged in FY2020, as it would help start addressing external imbalances and contribute to a gradual rebuilding of buffers over the medium term. In order to strengthen the monetary transmission mechanism and deepen the domestic financial market, there is a need to develop the secondary market for government securities, leverage Fintech, facilitate the attachment of collateral, and improve credit information.
Author: Leslie Lipschitz
Publisher: Cambridge University Press
ISBN: 1108568467
Category : Business & Economics
Languages : en
Pages : 312
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Book Description
Understanding macroeconomic developments and policies in the twenty-first century is daunting: policy-makers face the combined challenges of supporting economic activity and employment, keeping inflation low and risks of financial crises at bay, and navigating the ever-tighter linkages of globalization. Many professionals face demands to evaluate the implications of developments and policies for their business, financial, or public policy decisions. Macroeconomics for Professionals provides a concise, rigorous, yet intuitive framework for assessing a country's macroeconomic outlook and policies. Drawing on years of experience at the International Monetary Fund, Leslie Lipschitz and Susan Schadler have created an operating manual for professional applied economists and all those required to evaluate economic analysis.
