1 Read eBook for: sudan staff monitored program staff report press release and statement by the executive director for sudan [PDF]

Sudan Staff Monitored Program Staff Report Press Release And Statement By The Executive Director For Sudan

Sudan  Staff Monitored Program Staff Report  Press Release  and Statement by the Executive Director for Sudan PDF

Get This Book

Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1498326005
Size: 44.22 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : un
Pages : 59
View: 3096


EXECUTIVE SUMMARY Context: Sudan is a fragile state mired in a heavy debt burden, international sanctions, and volatile domestic and regional political environments. These problems, together with limited revenue mobilization, are constraining Sudan’s growth prospects and poverty reduction efforts. The economic situation worsened following the secession of South Sudan in 2011, resulting in the buildup of large economic imbalances. The authorities have embarked on a stabilization program and are expecting that a return of peace in South Sudan will ensure continuation of oil flows, which are crucial for sustaining the government renewed adjustment process resumed last September. Focus of the Staff-Monitored Program (SMP): In the attached Letter of Intent, dated March 7, 2014, the authorities requested a new SMP covering the period January– December, 2014. The objective of the SMP is to restore macroeconomic stability, strengthen social safety nets, and develop the required reforms to refocus the economy on its non- resource sector and lay the groundwork for sustainable economic growth. Risks to the SMP: Risks are mainly tilted to the downside. The social unrest that followed the announcement of the policy measures in September 2013 has abated, but the situation remains fragile. Security conditions remain volatile in several parts of the country, and the current standoff in South Sudan may hinder the flow of oil to Port Sudan. Furthermore, the forthcoming presidential elections in 2015 is already fueling political uncertainty, and complicating the economic policy-making process. Policy recommendations: The main recommendations from the 2013 Article IV consultation were: (i) a fiscal adjustment in the context of the 2014 budget framed in a medium-term strategy, including a gradual phasing-out of fuel subsidies, and a strengthening of social safety nets; (ii) a tighter monetary stance to contain inflation and lessen exchange rate pressures; (iii) further exchange rate flexibility to improve external competitiveness; and (iv) improvement of the business environment to boost private sector- led growth. Debt relief prospects: Relief is predicated on reaching out to creditors, normalizing relations with international financial institutions, and establishing a track record of cooperation with the IMF on policies and payments. Arrears to the Fund: Sudan has been in arrears to the Fund since July 1984. As of end- February 2014, those arrears amounted to SDR 981.5 million.

Sudan

Sudan PDF

Get This Book

Author:
Publisher:
ISBN:
Size: 58.25 MB
Format: PDF, ePub
Category : Economic development
Languages : un
Pages : 59
View: 3397


"Sudan is a fragile state mired in a heavy debt burden, international sanctions, and volatile domestic and regional political environments. These problems, together with limited revenue mobilization, are constraining Sudan' growth prospects and poverty reduction efforts. The economic situation worsened following the secession of South Sudan in 2011, resulting in the buildup of large economic imbalances. The authorities have embarked on a stabilization program and are expecting that a return of peace in South Sudan will ensure continuation of oil flows, which are crucial for sustaining the government renewed adjustment process resumed last September. Focus of the Staff-Monitored Program (SMP): In the attached Letter of Intent, dated March 7, 2014, the authorities requested a new SMP covering the period January-December, 2014. The objective of the SMP is to restore macroeconomic stability, strengthen social safety nets, and develop the required reforms to refocus the economy on its non- resource sector and lay the groundwork for sustainable economic growth. Risks to the SMP: Risks are mainly tilted to the downside. The social unrest that followed the announcement of the policy measures in September 2013 has abated, but the situation remains fragile. Security conditions remain volatile in several parts of the country, and the current standoff in South Sudan may hinder the flow of oil to Port Sudan. Furthermore, the forthcoming presidential elections in 2015 is already fueling political uncertainty, and complicating the economic policy-making process. Policy recommendations: The main recommendations from the 2013 Article IV consultation were: (i) a fiscal adjustment in the context of the 2014 budget framed in a medium-term strategy, including a gradual phasing-out of fuel subsidies, and a strengthening of social safety nets; (ii) a tighter monetary stance to contain inflation and lessen exchange rate pressures; (iii) further exchange rate flexibility to improve external competitiveness; and (iv) improvement of the business environment to boost private sector- led growth. Debt relief prospects: Relief is predicated on reaching out to creditors, normalizing relations with international financial institutions, and establishing a track record of cooperation with the IMF on policies and payments. Arrears to the Fund: Sudan has been in arrears to the Fund since July 1984. As of end- February 2014, those arrears amounted to SDR 981.5 million"--Abstract.

Sudan

Sudan PDF

Get This Book

Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher:
ISBN: 9781513559803
Size: 31.79 MB
Format: PDF, ePub, Mobi
Category :
Languages : un
Pages : 87
View: 338


The transitional government has requested a Staff-Monitored Program (SMP) to help address major macro imbalances, lay the groundwork for inclusive growth, and establish a track record of sound policies that is a requirement for eventual HIPC debt relief. Major challenges lie ahead. Economic contraction since 2018 is set to intensify sharply in 2020 as a result of the COVID-19 pandemic. Fiscal and external imbalances are large, inflation is high and rising, the currency is overvalued, and competitiveness is weak. The humanitarian situation is dire with large numbers of internally displaced people and refugees. Despite the desperate situation, Sudan cannot access Fund financial assistance on account of (i) arrears to the Fund, (ii) arrears to other IFIs and other creditors, and (iii) unsustainably large external debt. Sudan remains on the U.S. state sponsors of terrorism list (SSTL), which effectively hinders progress toward HIPC debt relief. While there is broad agreement between the authorities and staff about the key reform priorities, public tolerance for painful reforms is fragile given prolonged economic hardship. Notably, donor financial assistance has been well short of the amounts needed to facilitate gradual orderly adjustment. Hence, risks to the SMP are high.

Sudan 2014 Article Iv Consultation And Second Review Under Staff Monitored Program Staff Report Press Release And Statement By The Executive Director For Sudan

Sudan  2014 Article IV Consultation and Second Review Under Staff Monitored Program Staff Report  Press Release  and Statement by the Executive Director for Sudan PDF

Get This Book

Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1498307566
Size: 28.43 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : un
Pages : 100
View: 1256


KEY ISSUES Context: Sudan’s economy has yet to recover from the shock of South Sudan’s secession three years ago, which took away three-quarters of oil production, half of its fiscal revenues, and two-thirds of its international payments capacity. Despite progress in implementing policies to address the resulting imbalances, inflation remains high and growth sluggish. Macroeconomic adjustment has been complicated by structural weaknesses, a heavy debt burden, U.S. sanctions, and volatile domestic and regional political factors. The authorities embarked earlier this year on a stabilization program supported by a Staff-Monitored Program (SMP). The program runs through end-2014, and the authorities have not yet decided if they want a new SMP; the mission for the third SMP review in December will discuss the matter with them. Developments, outlook, and risks. Economic performance this year has been mixed as growth has remained subdued and inflation still high at about 40 percent. Growth is expected to rebound in 2015, but the outlook remains uncertain. The risks are largely tilted to the downside, although prospects of a successful national dialogue could lead to resolution of domestic conflicts and improved international relations. Article IV. Discussions focused on policies to secure macroeconomic stability, strengthen social safety nets, and a move to sustainable and inclusive growth. Fiscal consolidation (through revenue mobilization and expenditure rationalization, including a gradual phase-out of fuel subsidies) should continue, accompanied by increased public investment and social spending. Tight monetary policy and lower central bank financing of the government should help lower inflation. There is also a need for steps to lower the large premium in the foreign exchange market. Stronger supervision is needed to improve banks’ resilience. More should be done to improve the business climate to boost growth. Program performance: The program remains on track. The authorities continue to minimize non-concessional borrowing and maintain satisfactory track record of payments to the Fund. They recently devalued the official exchange rate by 3 percent to help address external imbalances, which together with a large appreciation of the parallel market rate, has helped lower the premium. Going forward, priority should be given to further reducing inflation by continuing fiscal consolidation, tightening monetary policy, and gradually closing the gap between the official and parallel exchange rates. Debt relief. Relief requires reaching out to creditors, normalizing relations with international financial institutions, and continuing to establish a track record of cooperation with the IMF on policies and payments. The authorities’ agreement with South Sudan to extend the “zero option” by two years is a positive step.

A Post Separation Social Accounting Matrix For The Sudan

A post separation Social Accounting Matrix for the Sudan PDF

Get This Book

Author: Siddig, Khalid
Publisher: Intl Food Policy Res Inst
ISBN:
Size: 46.15 MB
Format: PDF, ePub, Mobi
Category : Political Science
Languages : en
Pages : 33
View: 5361


The 2012 Social Accounting Matrix (SAM) for the Sudan, with a special focus on agriculture, water, and energy, is built using data from domestic sources in the Sudan, including the Central Bureau of Statistics, the Ministry of Agriculture, the Ministry of Finance and Economic Planning, and the Central Bank of Sudan, besides other external sources. Major data sets used include the 2012 National Accounts and Trade Statistics of the CBS, the 53rd Annual Report of the Central Bank of the Sudan, the 2011 Labor Force Survey, the 2009 Household Income and Expenditure Survey, the 2009-2012 Agricultural Production Cost Survey, and the 2005 Industrial Survey. Data from external sources are used to complement national sources. These sources include IMF studies on government finances, FAO reports and data on agriculture, and ILO reports on labor. The SAM distinguishes between agricultural activities based on modes of irrigation, energy based on its major source, and water based on modes of production and types of uses. Land is divided into irrigated and non-irrigated, while natural water resources are added in a separate account. Households are categorized by state, location (rural and urban), and income quintiles. Labor accounts are differentiated based on location (rural and urban), skill level, and gender.

The Monetary Geography Of Africa

The Monetary Geography of Africa PDF

Get This Book

Author: Paul R. Masson
Publisher: Brookings Institution Press
ISBN: 9780815797531
Size: 14.80 MB
Format: PDF, ePub
Category : Political Science
Languages : en
Pages : 217
View: 1260


Africa is working toward the goal of creating a common currency that would serve as a symbol of African unity. The advantages of a common currency include lower transaction costs, increased stability, and greater insulation of central banks from pressures to provide monetary financing. Disadvantages relate to asymmetries among countries, especially in their terms of trade and in the degree of fiscal discipline. More disciplined countries will not want to form a union with countries whose excessive spending puts upward pressure on the central bank's monetary expansion. In T he Monetary Geography of Africa, Paul Masson and Catherine Pattillo review the history of monetary arrangements on the continent and analyze the current situation and prospects for further integration. They apply lessons from both experience and theory that lead to a number of conclusions. To begin with, West Africa faces a major problem because Nigeria has both asymmetric terms of trade—it is a large oil exporter while its potential partners are oil importers—and most important, large fiscal imbalances. Secondly, a monetary union among all eastern or southern African countries seems infeasible at this stage, since a number of countries suffer from the effects of civil conflicts and drought and are far from achieving the macroeconomic stability of South Africa. Lastly, the plan by Kenya, Tanzania, and Uganda to create a common currency seems to be generally compatible with other initiatives that could contribute to greater regional solidarity. However, economic gains would likely favor Kenya, which, unlike the other two countries, has substantial exports to its neighbors, and this may constrain the political will needed to proceed. A more promising strategy for monetary integration would be to build on existing monetary unions—the CFA franc zone in western and central Africa and the Common Monetary Area in southern Africa. Masson and Pattillo argue that the goal of a creating a single African currency is probably beyond reach. Economic realities suggest that grand new projects for African monetary unions are unlikely to be successful. More important for Africa's economic well-being will be to attack the more fundamental problems of corruption and governance.

Publications Catalog

Publications Catalog PDF

Get This Book

Author: International Monetary Fund
Publisher:
ISBN:
Size: 25.42 MB
Format: PDF, ePub, Mobi
Category : International finance
Languages : en
Pages :
View: 5460



World Economic Outlook April 2019

World Economic Outlook  April 2019 PDF

Get This Book

Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1498313485
Size: 31.26 MB
Format: PDF, ePub, Mobi
Category : Political Science
Languages : en
Pages : 216
View: 6624


After strong growth in 2017 and early 2018, global economic activity slowed notably in the second half of last year, reflecting a confluence of factors affecting major economies. China’s growth declined following a combination of needed regulatory tightening to rein in shadow banking and an increase in trade tensions with the United States. The euro area economy lost more momentum than expected as consumer and business confidence weakened and car production in Germany was disrupted by the introduction of new emission standards; investment dropped in Italy as sovereign spreads widened; and external demand, especially from emerging Asia, softened. Elsewhere, natural disasters hurt activity in Japan. Trade tensions increasingly took a toll on business confidence and, so, financial market sentiment worsened, with financial conditions tightening for vulnerable emerging markets in the spring of 2018 and then in advanced economies later in the year, weighing on global demand. Conditions have eased in 2019 as the US Federal Reserve signaled a more accommodative monetary policy stance and markets became more optimistic about a US–China trade deal, but they remain slightly more restrictive than in the fall.

                                                                                                                                     PDF

Get This Book

Author: UNESCO
Publisher: UNESCO Publishing
ISBN: 923600069X
Size: 12.30 MB
Format: PDF, ePub
Category :
Languages : ar
Pages : 483
View: 2656



                                                             PDF

Get This Book

Author: Gagliardone, Iginio
Publisher:
ISBN: 9236000401
Size: 15.73 MB
Format: PDF
Category :
Languages : ar
Pages : 72
View: 1011



                          PDF

Get This Book

Author:
Publisher:
ISBN:
Size: 46.61 MB
Format: PDF, Kindle
Category :
Languages : ar
Pages : 204
View: 5148



N Bah Al S D N

N  bah al S  d  n PDF

Get This Book

Author:
Publisher:
ISBN: 9781899477111
Size: 34.18 MB
Format: PDF, ePub
Category : Genocide
Languages : en
Pages : 394
View: 6662



Back to Top