Botswana 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Botswana

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1513573047
Total Pages : 67 pages
Book Rating : 4.45/5 ( download)

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Download or read book Botswana: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Botswana written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-02 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Botswana entered the COVID-19 crisis with larger buffers than most countries, but significantly less than in the past. The country was contending with structural challenges, persistent negative external shocks and delays in adjustment that had already caused a significant weakening of international reserves coverage and the fiscal position amid high unemployment. The pandemic exacerbated these challenges causing a sharp GDP contraction, among the strongest in SSA and a widening in the current account deficit. Foreign exchange reserves dropped further, though still remaining well above adequate levels. The fiscal deficit widened significantly as the government sought to counter the economic impact of the COVID-19 crisis, and implemented a sizeable public wage increase agreed in 2019. The deficit was financed partially by drawing down on the Government Investment Account.

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ISBN 13 :
Total Pages : pages
Book Rating : 4.71/5 ( download)

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Download or read book Botswana written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1513597752
Total Pages : 84 pages
Book Rating : 4.51/5 ( download)

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Download or read book Georgia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Georgia written by International Monetary and published by International Monetary Fund. This book was released on 2021-09-21 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: High frequency estimates suggest a V-shaped recovery with output now poised to return close to 2019 levels already this year, much earlier than expected. Recently COVID-19 case numbers have risen sharply to new highs while vaccinations have also accelerated significantly after a slow start. The recovery has improved the fiscal outlook and the authorities submitted to Parliament a supplementary budget, with GEL 1.2 billion in additional spending roughly equivalent to the expected increase in revenues. The National Bank of Georgia (NBG) has increased the policy rate by 200 basis points to deal with high inflation driven by lagging effects of depreciation, commodity and food price increases, and supply side constraints.

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
ISBN 13 : 1513537377
Total Pages : 78 pages
Book Rating : 4.75/5 ( download)

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Download or read book Botswana written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2020-03-27 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation focuses on Botswana near- and medium-term challenges and policy priorities and was prepared before COVID-19 became a global pandemic and resulted in unprecedented strains in global trade, commodity, and financial markets. Gross domestic product growth is forecasted to pick up to 4.4 percent in 2020 and 5.6 percent in 2021 as the diamond industry recovers somewhat, and a new copper mine comes on stream. Growth will ease back to around 4 percent over the medium term. Risks to the outlook include faster-than-anticipated slowdown in key trading partners, shifts in consumer preferences to synthetic diamonds, and climate shocks. The size and pace of the planned adjustment are consistent with Botswana’s fiscal space, but the composition of the adjustment should protect efficient capital and social spending. Furthermore, given that buffers are being eroded, it is critical that consolidation starts as envisaged in FY2020, as it would help start addressing external imbalances and contribute to a gradual rebuilding of buffers over the medium term. In order to strengthen the monetary transmission mechanism and deepen the domestic financial market, there is a need to develop the secondary market for government securities, leverage Fintech, facilitate the attachment of collateral, and improve credit information.

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 75 pages
Book Rating : 4.56/5 ( download)

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Download or read book Botswana written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2022-07-27 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: As of end-2021, Botswana had recovered to its pre-crisis output level thanks to a strong rebound in demand for diamonds, a successful vaccination campaign, and policy support. Fiscal and current account deficits both narrowed sharply, and foreign reserves stabilized but buffers are yet to be fully rebuilt. Inflation exceeded the central bank’s medium-term objective range, while unemployment rose close to record highs. Growth in 2022 and beyond is expected to be around potential, while fiscal and external positions are projected to strengthen with more favorable terms of trade and strong fiscal consolidation. Risks to the outlook are associated with the war in Ukraine, the pandemic, and the implementation of fiscal consolidation and economic diversification plans.

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 151358779X
Total Pages : 111 pages
Book Rating : 4.90/5 ( download)

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Download or read book Guinea: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guinea written by International Monetary and published by International Monetary Fund. This book was released on 2021-07-06 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the non-mining sector was severely impacted by the COVID-19 crisis, overall growth in Guinea remains strong, reaching 7 percent in 2020, driven by booming mining production. Inflation exceeded 12 percent as a result of COVID-related supply disruptions and the ongoing monetary and fiscal response. The already weak social indicators have deteriorated further.

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1513590065
Total Pages : 91 pages
Book Rating : 4.66/5 ( download)

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Download or read book Ghana: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Ghana written by International Monetary and published by International Monetary Fund. This book was released on 2021-07-23 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ghana has been hit hard by the pandemic. The government’s proactive response helped contain the spread of COVID-19, protecting lives and limiting the impact on economic activity. However, partly because of the pandemic, the fiscal position worsened considerably last year, with a sharp increase in public sector debt.

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 69 pages
Book Rating : 4.74/5 ( download)

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Download or read book Botswana written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2023-08-31 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: Growth is expected to slow in 2023 due to a projected decline in diamond production, with the weaker global environment likely to depress other exports. Inflation has fallen since August 2022, returning to the central bank’s objective range. The authorities plan a fiscal expansion in FY2023 followed by two years of substantial fiscal adjustment to reach a small fiscal surplus by FY2025, but implementation risks are elevated. The external position should soften over the medium term, with FX reserves stabilizing at 51⁄2 months of imports. The financial sector is broadly sound and stable.

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484375432
Total Pages : 82 pages
Book Rating : 4.33/5 ( download)

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Download or read book Botswana written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2018-09-05 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, sizable buffers and prudent policies have kept the economy stable despite diamond market weakness and volatility. Nevertheless, the diamond cum public sector-led development model has shown its limits with slower growth and sluggish job creation, while the implementation of structural reforms has been challenging because of limited capacity, insufficient coordination among government entities, and political constraints. The 2017 National Development Plan aims at addressing these issues, with emphasis on private sector development and economic diversification, but more focused time-bound plans with concrete reforms and revised investment priorities need to be formulated and implemented.

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1513573179
Total Pages : 95 pages
Book Rating : 4.75/5 ( download)

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Download or read book Turkey: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Turkey written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-11 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Turkey, as in other countries, the human and economic toll of the COVID-19 pandemic has been severe. Thousands of lives have been tragically lost and many livelihoods compromised. The initial policy response to the pandemic—and subsequent sharp growth rebound—set Turkey apart from its peers. Rapid monetary and credit expansion and large liquidity support meant that Turkey was among the few countries to experience positive economic growth in 2020. But these policies also aggravated pre-existing economic and financial vulnerabilities. Higher inflation, increased dollarization, and a large shift in the current account position increased pressure on the lira and gave rise to heavy foreign exchange sales, which led in turn to steep reserve declines from already-low levels. A policy shift in late 2020—mainly towards tighter and more transparent monetary policy and slower credit growth—was both welcome and necessary. But the durability and depth of the shift were called into question in March 2021, following the change in central bank leadership, as the lira weakened markedly and interest rate spreads widened.