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"Niger's economic performance suffered from the harmful effects of several exogenous shocks in 2013. Below average rainfall in the second half of the year, along with the deterioration of the security situation in the region, adversely affected real GDP growth. The combination of these shocks also impacted the fiscal and external positions, owing to increased security-related spending and lower exports and FDIs, and put additional strains on the fragile socio-economic environment, characterized by high food insecurity and weak provision of social services. Inflation remains low. Program: Despite these developments, the authorities have shown strong commitment to the Extended Credit Facility (ECF) program (approved on March 16, 2012 in an amount of SDR 78.96 million or 120 percent of quota). Program slippages in late 2012 resulted in three of the five performance criteria being missed. The implementation of key corrective measures, including strengthened revenue collections, has brought the program back on track, but overspending on current expenditures (half of which related to security) combined with temporary delays in receipt of external budgetary assistance, resulted in the end-June 2013 performance criterion on domestic financing being missed. In addition, reflecting insufficient coordination within the government, the performance criterion on the contracting of nonconcessional external debt was also missed. The authorities request waivers for the nonobservance of the missed performance criteria on the basis of corrective actions taken, including institutional changes to improve debt management. The prior action for the completion of this review was met, and progress continues to be made in implementing the structural benchmarks. Outlook and risks: The medium-term outlook appears favorable, with robust growth benefitting from important natural resource sector investments. However, the outlook is vulnerable to high domestic and external risks, including potential spillovers from the security situation in the region and climatic shocks. New borrowing arrangements will need to be managed prudently to contain debt vulnerabilities. Staff views: Staff recommends the completion of the second and third reviews under the ECF. Completion of these reviews will result in disbursement of an amount equivalent to SDR 22.56 million under the ECF arrangement"--Abstract.

Niger Second And Third Reviews Under The Extended Credit Facility Arrangement And Requests For Waivers Of Nonobservance Of Performance Criteria And For Extension Of The Program Period And Arrangement Rephrasing Of Disbursements And Modification Of Performance Criteria Staff Report Press Release And Statement By The Executive Director For Niger

Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1498347711
Size: 79.58 MB
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This paper discusses Niger’s Second and Third Reviews Under the Extended Credit Facility (ECF) Arrangement and Requests for Waivers of Nonobservance of Performance Criteria and for Extension of the Program Period and Arrangement. Fiscal performance was broadly in line with program targets. The medium-term outlook appears favorable, with robust growth benefiting from important natural resource sector investments. However, the outlook is vulnerable to high domestic and external risks, including potential spillovers from the security situation in the region and climatic shocks. The IMF staff recommends the completion of the second and third reviews under the ECF.

Imf Financial Operations 2014

Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1484317440
Size: 65.99 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.

The Political Economy Of Energy Subsidy Reform

Author: Gabriela Inchauste
Publisher: Directions in Development
ISBN: 9781464810077
Size: 19.52 MB
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This book proposes a simple framework for understanding the political economy of subsidy reform and applies it to four in-depth country studies covering more than 30 distinct episodes of reform. Five key lessons emerge. First, energy subsidies often follow a life cycle, beginning as a way to stabilize prices and reduce exposure to price volatility for low-income consumers. However, as they grow in size and political power, they become entrenched. Second, subsidy reform strategies vary because the underlying political economy problems vary. When benefits are concentrated, satisfying (or isolating) interest groups with alternative policies is an important condition for effective reform. When benefits are diffuse, it can be much harder to identify and manage the political coalition needed for reform. Third, governments vary in their administrative and political capacities to implement difficult energy subsidy reforms. Fourth, improvements in social protection systems are often critical to the success of reforms because they make it possible to target assistance to those most in need. Finally, the most interesting cases involve governments that take a strategic approach to the challenges of political economy. In these settings, fixing energy subsidies is central to the governments' missions of retaining political power and reorganizing how the government delivers benefits to the population. These cases are examples of "reform engineering," where governments actively seek to create the capacity to implement alternative policies, depoliticize tariffs, and build credibility around alternative policies. The most successful reforms involve active efforts by policy leaders to identify the political forces supporting energy subsidies and redirect or inoculate them.

Implementing Energy Subsidy Reforms

Author: Maria Vagliasindi
Publisher: World Bank Publications
ISBN: 0821395629
Size: 23.12 MB
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Poorly implemented energy subsidies are economically costly to taxpayers and damage the environment. This book aims to provide lessons from a sample of twenty case studies to help policymakers address implementation challenges and overcome political economy and affordability constraints.

Expanding Job Opportunities In Ghana

Author: Maddalena Honorati
Publisher: Directions in Development
ISBN: 9781464809415
Size: 35.94 MB
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Ghana was, until very recently, a success story in Africa, achieving high and sustained growth and impressive poverty reduction. However, Ghana is now facing major challenges in diversifying its economy, sustaining growth, and making it more inclusive. Most of the new jobs that have been created in the past decade have been in low-earning, low-productivity trade services. Macroeconomic instability, limited diversification and growing inequities in Ghana s labor markets make it harder for the economy to create more jobs, and particularly, better jobs. Employment needs to expand in both urban areas, which will continue to grow rapidly, and rural areas, where poverty is still concentrated. The current fiscal and economic crisis is heightening the need for urgent reforms but limiting the room for maneuver and increasing pressure for a careful prioritization of policy actions. Going forward, Ghana will need to consider an integrated jobs strategy that addresses barriers to the business climate, deficiencies in skills, lack of competitiveness of job-creating sectors, problems with labor mobility, and the need for comprehensive labor market regulation. Ghana needs to diversify its economy through gains in productivity in sectors like agribusiness, transport, construction, energy, and information and communications technology (ICT) services. Productivity needs to be increased also in agriculture, in order to increase the earnings potential for the many poor who still work there. In particular, Ghana s youth and women need help in connecting to these jobs, through relevant skills development and services that target gaps in information about job opportunities. Even with significant effort, most of Ghana s population will continue to work in jobs characterized by low and fluctuating earnings for the foreseeable future, however, and they will need social safety nets that help them manage vulnerability to income shortfalls. More productive and inclusive jobs will help Ghana move to a second phase of structural transformation and develop into a modern middle-income economy.-

Europe S Role In Nation Building

Author: James Dobbins
Publisher: Rand Corporation
ISBN: 083304138X
Size: 22.83 MB
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The European Union and its member nations have proven adept at mounting small-scale nation-building operations and should be ready to handle more substantial missions. Building on prior RAND work, this volume presents six case studies of recent European-led nation-building missions, in Albania, Sierra Leone, Macedonia, Côte d'Ivoire, the Congo, and Bosnia, as well as a review of the Australian mission to the Solomon Islands.

Risks And Reconstruction

Author: Michael M. Cernea
Publisher: World Bank Publications
ISBN: 9780821344446
Size: 64.82 MB
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This book offers a multidimensional comparative analysis of two large groups of the world's displaced populations : resettlers uprooted by development and refugees fleeing military conflicts or natural calamities. The authors explore common central issues: the condition of being "displaced," the risks of impoverishment and destitu-tion, the rights and entitlements of those uprooted, and, most important, the means of reconstruction of their livelihoods. (Adapté de l'Introduction).

Voyages Of Abuse

Author: A. D. Couper
Publisher: Pluto Press
ISBN: 9780745315409
Size: 65.20 MB
Format: PDF
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'Voyages of Abuse is a most useful and much needed addition to the ocean literature ... The book is extremely well written and painstakingly documented ... The detailed case histories will shake some consciences.' Elisabeth Mann Borgese, Founder and Honorary Chair for Life, International Ocean Institute, Malta'This book is a fine contribution to the ongoing debate about global governance in shipping and will doubtless help in persuading those who remain opposed to the notion that with flag state rights come flag state responsibilities.' David Cockroft, ITF General Secretary'Professor Couper is well known in maritime circles for his passion and commitment for the welfare of the men and women of the sea. This book is a valuable addition to the cause of seafarers and their human rights. I warmly recommend it to all those who have the wellbeing of the shipping industry at heart.' Rev Jacques Harel, General Secretary, International Christian Maritime AssociationVoyages of Abuse details the deplorable conditions that exist in a minority sector of international shipping operating mainly, although not exclusively, under flags of convenience. In a horrific account of human rights abuses that would be little tolerated in the countries of the shipowners, the authors demonstrate that governments often pay little attention to cases of robbery, abandonment, deprivation and even death perpetrated by these shipowners or on vessels bearing their national flag. The financial and shipping institutions that support substandard shipowners are also prepared to ignore the plight of the individual seafarer serving on the ships under their tenure.The authors draw on case studies to illustrate the issues, including a perspective on Adriatic Tanker Company of Greece and examples of incompetent management and the reckless finance provisions in merchant shipping. The authors also examine the plight of seafarers' families, who are particularly vulnerable, and the legal rights of abused and abandoned seafarers. They conclude by arguing for a global governance of shipping.