Kingdom Of Lesotho 2014 Article Iv Consultation Staff Report Press Release And Statement By The Executive Director For The Kingdom Of Lesotho

Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1498357776
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This 2014 Article IV Consultation highlights that since 2010, the Lesotho’s economy has performed well with the growth of real GDP averaging over 5 percent a year and inflation held to single-digit levels. International reserves have recovered to close to 5 months of import coverage after dipping to 3½ months of imports in 2012 in the wake of the balance of payments and fiscal crisis. The economic outlook for Lesotho is positive with strong economic growth and low inflation. Economic activity is expected to be supported by large public investment projects, including the second phase of Lesotho Highland Water Project.

Kingdom Of Lesotho

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"Lesotho achieved strong economic growth in recent years, with only moderate inflation. International reserves have largely been rebuilt, thanks to a sustained period of fiscal restraint and recovery in revenues from the Southern African Customs Union (SACU). However, unemployment remains high and poverty is widespread, especially in rural areas. Since 2012, Lesotho has been led by a coalition government with a slim majority. Outlook and risks: Growth is expected to be robust over the medium term - led by mining, construction, and services - but there are risks, mainly arising from Lesotho's heavy dependence on volatile SACU revenues. A loosening of the fiscal stance in the recently approved budget for 2014/15 threatens to erode official international reserves. The budget also indicates that recurrent expenditures - most notably the government wage bill - will remain elevated over the medium term. Policy mix: Staff recommends a more moderate easing in the fiscal stance than the budget's and curbing recurrent expenditures to allow greater investment for inclusive growth. Preserving international reserves - to ensure a secure exchange rate peg - and debt sustainability are critical for macroeconomic stability. Over time a rules-based fiscal framework could strengthen stability. Financial sector: Overall, indicators point to a sound banking system. Implementing the Financial Sector Development Strategy would improve access to financial services and support private sector development. Structural agenda: An ambitious reform effort, particularly in the fiscal area, is needed to achieve a more efficient public sector and enable private sector-led growth"--Abstract.

How Large Are Global Energy Subsidies

Author: David Coady
Publisher: International Monetary Fund
ISBN: 1513560506
Size: 31.77 MB
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This paper provides a comprehensive, updated picture of energy subsidies at the global and regional levels. It focuses on the broad notion of post-tax energy subsidies, which arise when consumer prices are below supply costs plus a tax to reflect environmental damage and an additional tax applied to all consumption goods to raise government revenues. Post-tax energy subsidies are dramatically higher than previously estimated, and are projected to remain high. These subsidies primarily reflect under-pricing from a domestic (rather than global) perspective, so even unilateral price reform is in countries’ own interests. The potential fiscal, environmental and welfare impacts of energy subsidy reform are substantial.

Breaking The Oil Spell

Author: Reda Cherif
Publisher: International Monetary Fund
ISBN: 1484317785
Size: 17.40 MB
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The “Gulf Falcons”—the countries of the Gulf Cooperation Council—have high living standards as a result of large income flows from oil. The decline of oil prices between summer 2014 and fall 2015 underscores the urgency for the Gulf Falcons to diversify away from their current heavy reliance on oil exports. This book discusses attempts at diversification in the Middle East and North Africa and the complex choices policymakers face. It brings together the views of academics and policymakers to offer practical advice for future efforts to increase productivity growth.

Yes Africa Can

Author: Punam Chuhan-Pole
Publisher: World Bank Publications
ISBN: 0821387456
Size: 43.52 MB
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Takes an in-depth look at twenty-six economic and social development successes in Sub-Saharan African countries, and addresses how these countries have overcome major developmental challenges.

Medical Eligibility Criteria For Contraceptive Use

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Publisher: World Health Organization
ISBN: 9241563885
Size: 23.54 MB
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Medical Eligibility Criteria for Contraceptive Use reviews the medical eligibility criteria for use of contraception, offering guidance on the safety and use of different methods for women and men with specific characteristics or known medical conditions. The recommendations are based on systematic reviews of available clinical and epidemiological research. It is a companion guideline to Selected Practice Recommendations for Contraceptive Use. Together, these documents are intended to be used by policy-makers, program managers, and the scientific community to support national programs in the preparation of service delivery guidelines. The fourth edition of this useful resource supersedes previous editions, and has been fully updated and expanded. It includes over 86 new recommendations and 165 updates to recommendations in the previous edition. Guidance for populations with special needs is now provided, and a new annex details evidence on drug interactions from concomitant use of antiretroviral therapies and hormonal contraceptives. To assist users familiar with the third edition, new and updated recommendations are highlighted. Everyone involved in providing family planning services and contraception should have the fourth edition of Medical Eligibility Criteria for Contraceptive Use at hand.

World Report On Disability

Author: World Health Organization
Publisher:
ISBN: 9789241564182
Size: 51.48 MB
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The World Report on Disability suggests more than a billion people totally experience disability. They generally have poorer health, lower education and fewer economic opportunities and higher rates of poverty than people without disabilities. This report provides the best available evidence about what works to overcome barriers to better care and services.

Trust Voice And Incentives

Author: Hana Brixi
Publisher: World Bank Publications
ISBN: 1464804575
Size: 32.46 MB
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This report examines the role of incentives, trust, and engagement as critical determinants of service delivery performance in MENA countries. Focusing on education and health, the report illustrates how the weak external and internal accountability undermines policy implementation and service delivery performance and how such a cycle of poor performance can be counteracted. Case studies of local success reveal the importance of both formal and informal accountability relationships and the role of local leadership in inspiring and institutionalizing incentives toward better service delivery performance. Enhancing services for MENA citizens requires forging a stronger social contract among public servants, citizens, and service providers while empowering communities and local leaders to find 'best fit' solutions. Learning from the variations within countries, especially the outstanding local successes, can serve as a solid basis for new ideas and inspiration for improving service delivery. Such learning may help the World Bank Group and other donors as well as national and local leaders and civil society, in developing ways to enhance the trust, voice, and incentives for service delivery to meet citizens’ needs and expectations.

Exchange Rate Assessments

Author: Mr. Jaewoo Lee
Publisher: International Monetary Fund
ISBN: 1451932316
Size: 64.82 MB
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The rapid increase in international trade and financial integration over the past decade and the growing importance of emerging markets in world trade and GDP have inspired the IMF to place stronger emphasis on multilateral surveillance, macro-financial linkages, and the implications of globalization. The IMF's Consultative Group on Exchange Rate Issues (CGER)--formed in the mid-1990s to provide exchange rate assessments for a number of advanced economies from a multilateral perspective--has therefore broadened its mandate to cover both key advanced economies and major emerging market economies. This Occasional Paper summarizes the methodologies that underpin the expanded analysis.

Imf Financial Operations 2014

Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1484317440
Size: 53.65 MB
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IMF Financial Operations 2014 provides a broad introduction to how the IMF fulfills its mission through its financial activities. It covers the financial structure and operations of the IMF and also provides background detail of the financial statements for the IMF’s activities during the most recent financial year. This publication updates a previous report entitled Financial Organization and Operations of the IMF, first published in 1986 and last issued in 2001 (the sixth edition). That 2001 report reflected the seismic shifts in the global economy and in the IMF’s structure and operations that occurred after the fall of the Soviet Union and the various currency and financial crises of the 1990s. This revised and updated report covers more recent developments, including measures taken in response to the global financial crisis of 2007-09 and the institutional reforms aimed at ensuring that the IMF’s governance structure evolves in line with developments in the global economy, as well as reforms to the IMF’s income model.