Panama 2014 Article Iv Consultation Staff Report Press Release And Statement By The Executive Director For Panama

Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 149839082X
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This 2014 Article IV Consultation highlights that Panama’s economic performance remains buoyant. Real GDP growth averaged about 8.5 percent over the past decade, the highest in Latin America, supported by an ambitious public investment program, and accompanied by strong reduction in unemployment, poverty, and income inequality. After exceeding 10 percent in 2011–2012, growth slowed to 8.4 percent in 2013 reflecting mainly a decline in Colon Free Zone activity and in Canal traffic. Growth is expected to remain strong over the medium term. Inflation is moderating, owing to the deceleration of international food and oil prices. The baseline outlook is favorable, with moderate risks.

Panama

Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1475551215
Size: 46.29 MB
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GDP grew by 5.8 percent in 2015. Inflation has declined to close to zero owing to lower oil prices and the strong dollar. Unemployment remains low. The external current account deficit has been moderating and is being financed by FDI inflows. Fiscal consolidation since mid-2014 helped to achieve a lower-than-budgeted deficit of 2.8 percent of GDP in 2015.

Panama

Author:
Publisher:
ISBN: 9781475550856
Size: 16.16 MB
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GDP grew by 5.8 percent in 2015. Inflation has declined to close to zero owing to lower oil prices and the strong dollar. Unemployment remains low. The external current account deficit has been moderating and is being financed by FDI inflows. Fiscal consolidation since mid-2014 helped to achieve a lower-than-budgeted deficit of 2.8 percent of GDP in 2015.

Guatemala 2014 Article Iv Consultation Staff Report Press Release And Statement By The Executive Director For Guatemala

Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1484341643
Size: 11.83 MB
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KEY ISSUES Context. Guatemala’s economy has performed solidly since the 2008–09 crisis. Output has converged to potential, inflation is under control, and macroeconomic policies remain prudent. However, risks to the outlook are tilted downwards, while buffers are modest and space for counter-cyclical policies is thin. Long-term inclusive growth is constrained by low investment in physical and human capital, institutional weaknesses, and lack of security. Near-term policies are broadly appropriate. With the output gap closed, the broadly neutral fiscal stance is adequate. The monetary stance is slightly expansionary, but inflation is at the bottom of the target range. The authorities should stand ready to tighten monetary policy if inflationary pressures re-emerge. Fiscal sustainability should be enhanced over the medium term. Though the debt-to- GDP ratio remains moderate, the ability to implement counter-cyclical fiscal policies is limited, not least by Guatemala’s high government debt-to-revenue ratio. Debt stabilization requires moderate tightening of the budgetary stance over the medium term. The emphasis should be on revenue mobilization, given the overall low level of spending. Consolidating gains from the 2012 tax reform, which has so far proved disappointing, will be critical. Efforts to upgrade the monetary and exchange policy framework should continue. Anchoring low and stable inflation will require measures to bolster monetary policy transmission, including by expanding exchange rate flexibility. This should provide an additional shock absorber and reduce incentives for dollarization. It would also establish the inflation target as the undisputed primary objective of the central bank. Further strengthening of the financial system is necessary. The 2014 FSAP update found that Guatemala has made significant progress in financial regulation and that the banking system appears to be generally sound. However, efforts are still needed to improve consolidated supervision and the regulation of off-shore banks. The time is also ripe for a phased move to Basel III standards. Structural reforms are vital to achieving long-term inclusive growth. Paving the way towards high, inclusive growth will depend upon raising the low tax-to-GDP ratio to support priority public spending, thereby addressing critical social and developmental needs.

Breaking The Oil Spell

Author: Reda Cherif
Publisher: International Monetary Fund
ISBN: 1484317785
Size: 80.88 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.

A Manual For Country Economists

Author: Marcello Caiola
Publisher: International Monetary Fund
ISBN:
Size: 54.19 MB
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This guide is addressed mainly to new staff members in the area and functional departments of the International Monetary Fund (IMF). It covers certain problems that are frequently encountered in the course of a desk economist's work, especially in regard to data interpretation and deficiencies.

World Report On Disability

Author: World Health Organization
Publisher:
ISBN: 9789241564182
Size: 32.65 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.

Yes Africa Can

Author: Punam Chuhan-Pole
Publisher: World Bank Publications
ISBN: 0821387456
Size: 35.72 MB
Format: PDF
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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.

Exchange Rate Assessments

Author: Jaewoo Lee
Publisher: IMF's Occasional Paper
ISBN:
Size: 69.96 MB
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As part of this mandate, since the mid-1990s the IMF Consultative Group on Exchange Rate Issues (CGER) has provided exchange rate assessments for a number of advanced economies from a multilateral perspective, with the aim of informing the country-specific analysis of the IMF's Article IV staff reports and fostering multilateral consistency. These assessments are additional tools at the disposal of the IMF staff country desks, which are responsible for formulating exchange rate assessments as part of the Fund's bilateral surveillance, another of the IMF's core responsibilities.

Financial Integration In Latin America

Author: Mr.Charles Enoch
Publisher: International Monetary Fund
ISBN: 1475577141
Size: 29.94 MB
Format: PDF
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With growth slowing across much of the Latin America as a result of the end of the commodity supercycle and economic rebalancing in China, as well as fragmentation of the international banking system, policies to stimulate growth are needed. This book examines the financial landscapes of seven Latin American economies—Brazil, Chile, Colombia, Mexico, Panama, Peru, and Uruguay—and makes a case for them to pursue regional financial integration. Chapters set out the benefits to the region of financial integration, the barriers to cross-border activity in banks, insurance companies, pension funds, and capital markets, as well as recommendations to address these barriers. Finally, the volume makes the case that regional integration now could be a step toward global integration in the short term.