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
Size: 58.42 MB
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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: 52.24 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: 65.58 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.

Statistical Capacity Building

Author: Mr. Thomas K. Morrison
Publisher: International Monetary Fund
ISBN: 9781451980059
Size: 34.16 MB
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IMF technical assistance provided by the Statistics Department--toward assisting IMF member countries in developing the ability to provide reliable and comparable economic and financial data on a timely basis to policymakers and markets--has increased more than fourfold over the past decade. This assistance has proven critical in countries' building their statistical capacity so as to come into line with international data standards in an increasingly globalized and electronically interconnected world. Statistical Capacity Building: Case Studies and Lessons Learned presents four case studies drawn from experience in three countries in transition to the market, two of which were also in postconflict situations, in the 1990s and early 2000s: Cambodia, Bosnia and Herzegovina, and Ukraine. Issues of setting, institutional and statistical arrangements, strategies, and implementation are examined, and lessons learned.

Assessing Liquidity Buffers In The Panamanian Banking Sector

Author: Andras Komaromi
Publisher: International Monetary Fund
ISBN: 1475544898
Size: 18.52 MB
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This paper assesses the resilience of Panamanian banks to (i) a very severe short-term, and (ii) a significant long-lasting liquidity shock scenario. Short-term liquidity buffers are evaluated by approximating the Liquidity Coverage Ratio (LCR) defined in the Basel III accord. The risk of losing a substantial part of foreign funding is analyzed through a conventional liquidity stress test scrutinizing several layers of liquidity across maturity buckets. The results of this study point to some vulnerabilities. First, our approximations indicate that about half of Panamanian banks would need to adjust their liquid asset portfolios to meet current LCR standards. Second, while most banks would be able to meet funding outflows in the stress-test scenario, a number of banks would have to use up all of their liquidity buffers, and a few even face a final shortfall. Nonetheless, most banks displaying sizable liquidity shortfalls have robust solvency positions.

Saving In Latin America And The Caribbean Performance And Policies

Author: Francesco Grigoli
Publisher: International Monetary Fund
ISBN: 1513575368
Size: 45.35 MB
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This paper analyzes saving patterns and determinants in Latin America and the Caribbean (LAC), including key policy variables and regimes. The review of previous empirical studies on LAC saving reveals contradictions and omissions. This paper presents empirical results of an extensive search of determinants of private and public saving rates, adding previously neglected variables (including different measures of key external prices and macroeconomic policy regimes), in linear form and in interactions with other saving determinants. It analyzes statistical differences in saving determinants between LAC and the rest of the world in a nested econometric framework, and discusses differences across three country subgroups within LAC. The results highlight commonalities and differences in saving behavior between LAC and other world regions, as well as within LAC, identifying the role of key policy variables and regimes.

Slow Professor

Author: Maggie Berg
Publisher: University of Toronto Press
ISBN: 1442663103
Size: 21.59 MB
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If there is one sector of society that should be cultivating deep thought in itself and others, it is academia. Yet the corporatisation of the contemporary university has sped up the clock, demanding increased speed and efficiency from faculty regardless of the consequences for education and scholarship. In The Slow Professor, Maggie Berg and Barbara K. Seeber discuss how adopting the principles of the Slow movement in academic life can counter this erosion of humanistic education. Focusing on the individual faculty member and his or her own professional practice, Berg and Seeber present both an analysis of the culture of speed in the academy and ways of alleviating stress while improving teaching, research, and collegiality. The Slow Professor will be a must-read for anyone in academia concerned about the frantic pace of contemporary university life.

Yes Africa Can

Author: Punam Chuhan-Pole
Publisher: World Bank Publications
ISBN: 0821387456
Size: 75.69 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.

Climate Change 2007 Mitigation Of Climate Change

Author: Intergovernmental Panel on Climate Change
Publisher: Cambridge University Press
ISBN: 1139468642
Size: 72.60 MB
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The Climate Change 2007 volumes of the Fourth Assessment Report of the Intergovernmental Panel on Climate Change (IPCC) provide the most comprehensive and balanced assessment of climate change available. This IPCC Working Group III volume provides a comprehensive, state-of-the-art and worldwide overview of scientific knowledge related to the mitigation of climate change. It includes a detailed assessment of costs and potentials of mitigation technologies and practices, implementation barriers, and policy options for the sectors: energy supply, transport, buildings, industry, agriculture, forestry and waste management. It links sustainable development policies with climate change practices. This volume will again be the standard reference for all those concerned with climate change, including students and researchers, analysts and decision-makers in governments and the private sector.

Order And Conflict In Public Space

Author: Mattias De Backer
Publisher: Routledge
ISBN: 1317395514
Size: 64.76 MB
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Which public and whose space? The understanding of public space as an arena where individuals can claim full use and access hides a reality of constant negotiation, conflict and surveillance. This collection uses case studies concerning the management, use, and transgression of public space to invite reflection on the way in which everyday social interaction is framed and shaped by the physical environment and vice versa. International experts from fields including geography, criminology, sociology and urban studies come together to debate the concepts of order and conflict in public space. This book is divided into two parts: spaces of control, and spaces of transgression. Section I focuses on formal and informal surveillance and the politics of control, using case studies to compare strategies in spaces including Olympic cities, luxury skyscrapers, residential neighbourhoods and shopping malls. Section II focuses on transgressive or deviant behaviour in public spaces, with case studies examining behaviour in nightlife districts, governance of homelessness, boy-racer culture and abortion protests. The epilogue concludes the book with an exploration of possible future avenues for research on public space, and a critical appraisal of the concept of public space itself. This interdisciplinary collection will be of interest to students, researchers and professionals in the areas of criminology, sociology, surveillance studies, human and social geography, and urban studies and planning.