Macroeconomic Issues in Small States and Implications for Fund Engagement PDF Download
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Author: International Monetary Fund. Strategy, Policy, & Review Department
Publisher: International Monetary Fund
ISBN: 1498342310
Category : Business & Economics
Languages : en
Pages : 67
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Book Description
This paper reviews the macroeconomic characteristics and performance of small states and discusses ways in which the Fund’s engagement with these countries could be better tailored to meet their needs. The Fund previously examined small states issues in 2000, informed by a Joint Task Force Report of the Commonwealth Secretariat (CS) and World Bank. Small states continue to face many of the same challenges they did then, and the 2000 Small States Report remains the foundation for much of the work in this area, both inside and outside the Fund. However, the relative macroeconomic performance of small states has deteriorated since the late 1990s, and a fresh look is warranted.
Author: International Monetary Fund. Strategy, Policy, & Review Department
Publisher: International Monetary Fund
ISBN: 1498342310
Category : Business & Economics
Languages : en
Pages : 67
Get Book Here
Book Description
This paper reviews the macroeconomic characteristics and performance of small states and discusses ways in which the Fund’s engagement with these countries could be better tailored to meet their needs. The Fund previously examined small states issues in 2000, informed by a Joint Task Force Report of the Commonwealth Secretariat (CS) and World Bank. Small states continue to face many of the same challenges they did then, and the 2000 Small States Report remains the foundation for much of the work in this area, both inside and outside the Fund. However, the relative macroeconomic performance of small states has deteriorated since the late 1990s, and a fresh look is warranted.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498343619
Category : Business & Economics
Languages : en
Pages : 47
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Book Description
This note highlights the unique economic characteristics and constraints facing small developing states. It provides operational guidance on Fund engagement with such countries, including on how small country size might influence the use of Fund facilities and instruments, program design, capacity building activities, and collaboration with other institutions and donors. The guidance note draws on the March 2013 Board papers on small states and the associated Executive Board discussion. The findings of the paper and implications for Fund engagement with small states were presented to small states authorities during the 2013 Annual Meetings, as well as in regional IMF conferences with small states in the Bahamas (September 2013) and Vanuatu (November 2013). Series
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498344852
Category : Business & Economics
Languages : en
Pages : 112
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Book Description
This report builds on the work in the 2013 Board paper on Fund Engagement with Small States, the 2013 background papers on Asian and Pacific small states and Caribbean small states, and the 2014 staff guidance note. It provides a deeper analysis and policy recommendations in respect of three challenges identified in these papers. Looking ahead, the paper also analyses the impact and possible policy responses to two global economic trends—lower oil prices and diverse movements in major currencies.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1498307590
Category : Nature
Languages : en
Pages : 56
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Book Description
"This guidance note highlights the unique economic characteristics and constraints facing small developing states. It provides operational guidance on Fund engagement with such countries, including on how small state characteristics might shape Fund surveillance and financial support, program design, capacity building activities, and collaboration with other institutions and donors. The note updates the previous version that was published in May 2014. It incorporates modifications resulting from Board papers and related Executive Board discussions that have taken place since the March 2013 Board papers on small states, which provided the foundations of the original guidance note. Based on these inputs, five key thematic areas (G.R.O.W.TH.) have been identified as central to the policy dialogue: • Growth and job creation. With small states experiencing relatively weak growth since the 1990s, Fund staff working on small states should ensure an explicit focus on growth in both surveillance and program-related work. • Resilience to shocks. Small states experience higher macroeconomic volatility and more frequent natural disasters. Staff should be ready to advise on how to tailor macroeconomic policies to provide greater resilience to shocks and climate change. • Overall competitiveness. Options to improve relative prices may include exchange rate adjustment (where possible) or measures supportive of internal devaluation (if not), and efforts to improve the business climate, including through regional initiatives. • Workable fiscal and debt sustainability options. With many small states having very high debt burdens, reducing debt to manageable levels requires sustained fiscal consolidation with supporting policies and structural reforms. In cases where the amount of adjustment needed to restore debt sustainability is not feasible or adequate financing is not available, debt restructuring may be needed. • Thin financial sectors. Developing deeper and more competitive, yet sound, financial sectors contributes to macroeconomic stability and enhances the effectiveness of policy interventions while strengthening competitiveness by improving business access to financial services."
Author: International Monetary Fund. Secretary's Department
Publisher: International Monetary Fund
ISBN: 1513568817
Category : Business & Economics
Languages : en
Pages : 74
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Book Description
A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498344283
Category : Business & Economics
Languages : en
Pages : 32
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Book Description
The administrative expenditure outturn for FY2015 reflects continued budget discipline, as new demands and initiatives were accommodated through reprioritization and better use of existing resources within an unchanged envelope. The overall budget utilization rate of 98 percent was achieved through more efficient personnel management practices and effective reallocation of resources from underutilized areas to areas of emerging pressure. In terms of outputs, the Fund continued its focus on addressing global policy challenges and reducing vulnerabilities. Resources allocated to multilateral surveillance, oversight of the global systems and capacity development increased while bilateral surveillance and lending declined moderately, in line with easing of crisis-related work. Spending by country reflects a continued shift towards a more risk-based approach, consistent with the established priorities. Capital expenditures mainly reflected the major renovation of the HQ1 building and improvements in information technology infrastructure and security to better support the staff’s work and protect information assets.
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 75
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Book Description
This Guidance Note provides guidance to country teams for surveillance under Article IV consultations. It supersedes the 2015 Guidance Note and its supplement. Fund surveillance continuously adapts to the evolving economic and financial landscape. The 2021 Comprehensive Surveillance Review (CSR) identified priorities for Fund surveillance, both in terms of content and modalities. This Guidance Note covers: Scope and requirements: The note lays out the coverage of, and formal requirements for, Article IV consultations and staff reports. It also outlines best practices aimed at enhancing the traction of Fund analysis and policy advice. Priorities and focus. The note reflects the four surveillance priorities identified in the CSR: (i) confronting risks and uncertainties, (ii) preempting and mitigating spillovers, (iii) ensuring economic sustainability, and (iv) adopting a more unified approach to policy advice. The note also provides guidance on sharpening the focus and selectivity of Article IV staff reports. Policies. The note discusses the content of surveillance in the areas of fiscal policy, macrofinancial analysis and financial policies, monetary policy, external sector policies, and macrostructural policies. Applications. The note considers several applications of such policies, such as with respect to the Integrated Policy Framework, climate change, and gender. Process and procedures. The note describes the Article IV consultation cycle and process, lays out drafting and publication guidelines for staff reports, and covers the treatment of confidential information.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264266917
Category :
Languages : en
Pages : 96
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Book Description
Storms, hurricanes, and cyclones have been a feature of life on Small Island Developing States (SIDS) for centuries. But climate change is now increasing the intensity of these disasters, as well as creating new developmental challenges - like rising sea levels and increasing ocean acidity - ...
Author: Mirjana Radović-Marković
Publisher: Routledge
ISBN: 1000065421
Category : Business & Economics
Languages : en
Pages : 155
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Book Description
The changeable business environment requires a new business framework and an understanding of the global market trends and the culture that will impact on business. Globalization and Entrepreneurship in Small Countries considers important business principles and makes them accessible for entrepreneurs and small business owners. It addresses the role of managers and leaders and management techniques in the context of global strategy of companies, as well as the culture diversity that comes with globalization of organizations. To meet the constantly changing conditions and demands, business must transcend boundaries to get what it needs regardless of where it exists – geographically, organizationally, and functionally. This book draws together earlier literature on SME development and internationalization from disparate sources into a cohesive body of work, which traces the evolution of our understanding of the topic. It explores just how globalization affects the demand for business and entrepreneurship, and will therefore be of interest to researchers, academics, policymakers, and students in the fields of entrepreneurship, globalisation, organisational studies, and SMEs development in small countries.
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1484389360
Category : Business & Economics
Languages : en
Pages : 46
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Book Description
This paper discusses Ex Post Assessment of Longer-Term Program Engagement on Grenada. Grenada’s engagement with the IMF played an important role in supporting the small island economy after it was buffeted by major adverse shocks. IMF support catalyzed substantial donor aid in the wake of unprecedented damage from two hurricanes and provided additional resources when the global crisis hit. Key reforms were also advanced, including the implementation of a value-added tax and strengthening of the nonbank regulatory framework. Executive Directors have agreed that a new program should support urgently needed fiscal consolidation, promote faster and more inclusive growth, and focus on a few macro-critical reforms.
