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Grenada 2014 Article Iv Consultation And Request For An Extended Credit Facility Arrangement Staff Report And Press Release

Grenada  2014 Article IV Consultation and Request for An Extended Credit Facility Arrangement Staff Report  and Press Release PDF

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Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1498319459
Size: 38.49 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 124
View: 3493


This 2014 Article IV Consultation highlights that Grenada’s economy continues to face significant headwinds after a decade of natural disasters and economic shocks coalesced into a deep economic crisis by 2011–2012. Economic activity declined by more than 8 percent of GDP from peak to trough (2008–2012) as tourism and construction collapsed. After almost four years of decline, real GDP grew by 1.5 percent in 2013. To address the fiscal crisis, the authorities have initiated fiscal adjustment as part of their 2014 budget, and have subsequently approved a large package of revenue measures needed for the targeted consolidation.

Unleashing Growth And Strengthening Resilience In The Caribbean

Unleashing Growth and Strengthening Resilience in the Caribbean PDF

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Author: Mr.Krishna Srinivasan
Publisher: International Monetary Fund
ISBN: 1484318919
Size: 60.16 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 378
View: 2577


This book provides a diagnosis of the central economic and financial challenges facing Caribbean policymakers and offers broad policy recommendations for promoting a sustained and inclusive increase in economic well-being. The analysis highlights the need for Caribbean economies to make a concerted effort to break the feedback loops between weak macroeconomic fundamentals, notably pertaining to fiscal positions and financial sector strains, and structural impediments, such as high electricity costs, limited financial deepening, violent crime, and brain drain, which have depressed private investment and growth. A recurring theme in the book is the need for greater regional coordination in finding solutions to address the Caribbean’s shared and intertwined macroeconomic and structural challenges. The analysis suggests that strengthening regional and global market integration of Caribbean economies would provide an impetus to sustained growth in incomes and jobs. Greater regional and global economic integration would also facilitate structural transformation and a shift toward new economic activities, resulting in more diversified and less vulnerable economies. A central challenge for the Caribbean is thus to come together as a region, overcome the limitations posed by size, and garner the benefits of globalization. Efforts should build on existing regional arrangements; accelerating progress in implementing these agreements would stimulate trade. Policymakers could also promote deeper integration with Latin America and the rest of the world by pursuing new trade agreements, leveraging current agreements more effectively, or deepening them to include areas beyond traditional trade issues, and developing port and transport infrastructure.

Grenada

Grenada PDF

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Author: International Monetary Fund. Western Hemisphere Department
Publisher:
ISBN: 9781498363709
Size: 32.89 MB
Format: PDF
Category : Economic indicators
Languages : en
Pages : 125
View: 5204


This 2014 Article IV Consultation highlights that Grenada's economy continues to face significant headwinds after a decade of natural disasters and economic shocks coalesced into a deep economic crisis by 2011-2012. Economic activity declined by more than 8 percent of GDP from peak to trough (2008-2012) as tourism and construction collapsed. After almost four years of decline, real GDP grew by 1.5 percent in 2013. To address the fiscal crisis, the authorities have initiated fiscal adjustment as part of their 2014 budget, and have subsequently approved a large package of revenue measures needed for the targeted consolidation.

Sovereign Debt Restructurings In Grenada

Sovereign Debt Restructurings in Grenada PDF

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Author: Mr.Tamon Asonuma
Publisher: International Monetary Fund
ISBN: 1484313178
Size: 38.22 MB
Format: PDF, ePub
Category : Business & Economics
Languages : en
Pages : 58
View: 7518


This paper documents the two debt restructurings that Grenada undertook in 2004–06 and 2013–15.Both restructurings emerged as a consequence of weak fiscal and debt situations, whichbecame unsustainable soon after external shocks hit the island economy. The two restructurings provided liquidity relief, with the second one involving a principal haircut. However, the first restructuring was not able to secure long-term debt sustainability. Grenada’s restructuring experience shows the importance of (1) establishing appropriate debt restructuring objectives; (2) committing to policy reforms and maintaining ownership of the restructuring goals; and (3) engaging closely and having clear communications with creditors.

Caribbean Renewal Tackling Fiscal And Debt Challenges

Caribbean Renewal  Tackling Fiscal and Debt Challenges PDF

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Author: Charles Amo Yartey
Publisher: International Monetary Fund
ISBN: 1484321170
Size: 25.70 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 314
View: 7532


Caribbean economies face high and rising debt-to-GDP ratios that jeopardize prospects for medium-term debt sustainability and growth. This book provides a comprehensive analysis of the challenges of fiscal consolidation and debt reduction in the Caribbean. It examines the problem of high debt in the region and discusses policy options for improving debt sustainability, including fiscal consolidation, robust growth, and structural reforms. The book also examines empirically the factors underlying global large debt reduction episodes to draw important policy lessons for the Caribbean. It also reviews the literature on successful fiscal consolidation experiences and provides an overview of past and current consolidation efforts in the Caribbean. The book concludes that the region needs a broad and sustained package of reforms to reduce debt ratios to more manageable levels and strengthen economic resilience.

World Economic Outlook October 2016

World Economic Outlook  October 2016 PDF

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Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1475551584
Size: 47.74 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 288
View: 1922


According to the October 2016 "World Economic Outlook," global growth is projected to slow to 3.1 percent in 2016 before recovering to 3.4 percent in 2017. The forecast, revised down by 0.1 percentage point for 2016 and 2017 relative to April’s report, reflects a more subdued outlook for advanced economies following the June U.K. vote in favor of leaving the European Union (Brexit) and weaker-than-expected growth in the United States. These developments have put further downward pressure on global interest rates, as monetary policy is now expected to remain accommodative for longer. Although the market reaction to the Brexit shock was reassuringly orderly, the ultimate impact remains very unclear, as the fate of institutional and trade arrangements between the United Kingdom and the European Union is uncertain. Financial market sentiment toward emerging market economies has improved with expectations of lower interest rates in advanced economies, reduced concern about China’s near-term prospects following policy support to growth, and some firming of commodity prices. But prospects differ sharply across countries and regions, with emerging Asia in general and India in particular showing robust growth and sub-Saharan Africa experiencing a sharp slowdown. In advanced economies, a subdued outlook subject to sizable uncertainty and downside risks may fuel further political discontent, with anti-integration policy platforms gaining more traction. Several emerging market and developing economies still face daunting policy challenges in adjusting to weaker commodity prices. These worrisome prospects make the need for a broad-based policy response to raise growth and manage vulnerabilities more urgent than ever.

Making The Most Of Public Investment In Mena And Cca Oil Exporting Countries

Making the Most of Public Investment in MENA and CCA Oil Exporting Countries PDF

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Author: Maria A. Albino-War
Publisher:
ISBN: 9781498314954
Size: 42.17 MB
Format: PDF, Docs
Category :
Languages : en
Pages : 31
View: 4469


Over the past decade, rising oil prices have translated into high levels of public investment in most MENA and CCA oil exporters. This has prompted questions about the efficiency of public investment in generating growth and closing infrastructure gaps, as well as concerns about fiscal vulnerabilities. When public investment is inefficient, higher levels of spending may simply lead to larger budget deficits, without sufficiency increasing the quantity or quality of public infrastructure in support of economic growth. This paper examines the efficiency of public investment in the MENA and CCA oil exporters using several techniques, including a novel application of the efficiency frontier analysis, estimates of unit investment costs, and assessments of public investment processes. The analysis confirms that these oil exporters have substantial room to improve public investment efficiency. Reforms in the public financial and investment management systems are needed to achieve this objective.

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Author:
Publisher:
ISBN:
Size: 37.40 MB
Format: PDF, Docs
Category :
Languages : ar
Pages :
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