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

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 161635593X
Total Pages : 115 pages
Book Rating : 4.37/5 ( download)

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Download or read book Mongolia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Mongolia written by International Monetary and published by International Monetary Fund. This book was released on 2021-11-29 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: A strong export-led recovery is underway. Despite early actions and a successful vaccination campaign, the pandemic is lingering in Mongolia as positivity rates remain high and borders largely closed. An export-led recovery which began in mid-2020, is gathering steam due to booming prices for Mongolia’s exports. Nevertheless, domestic demand, labor markets and the business sector remain weak. Policies were appropriately supportive during the pandemic. However, large, untargeted and continuing fiscal, quasi-fiscal and financial forbearance measures legislated by Parliament have heightened macrofinancial vulnerabilities: public debt has sharply increased, bank balance sheets have further weakened, and the Bank of Mongolia’s (BOM) operational independence has been compromised. On the plus side, external and fiscal buffers have been built, helped by the 2021 IMF SDR allocation of US$98.3 million (95.8 percent of quota), and the rollover of large external liabilities has increased policy space.

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Total Pages : pages
Book Rating : 4.99/5 ( download)

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Download or read book Mongolia 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 Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
ISBN 13 : 1484347102
Total Pages : 89 pages
Book Rating : 4.02/5 ( download)

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Download or read book Mongolia written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2015-04-30 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2015 Article IV Consultation highlights that Mongolia’s medium- to long-term prospects are promising given its large natural resources. In the near term, however, the country continues to face balance-of-payments (BOP) pressures on account of low foreign direct investment and weak commodity prices, as well as expansionary macro policies. Imports have now started to taper off and, with the first phase of the Oyu Tolgoi copper and gold mine now in operation, exports have picked up. The trade balance has thus improved, but the overall BOP remains weak. The executive directors have supported ongoing efforts to foster high, inclusive growth by improving the investment climate, enhancing competitiveness, and promoting economic diversification.

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. Asia and Pacific Dept
Publisher : International Monetary Fund
ISBN 13 : 1513514164
Total Pages : 75 pages
Book Rating : 4.61/5 ( download)

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Download or read book Mongolia written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2019-09-17 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation with Mongolia discusses that economy growth accelerated to 8.6 percent in the first quarter of 2019, over fiscal balance turned into surplus in 2018, and gross international reserves have increased by $2 1/2 billion since 2016. The recovery stems from a stronger policy framework, significant official financing and a rebound in external demand. Notwithstanding the progress, Mongolia remains vulnerable to external shocks given its high debt levels and the economy’s dependence on mineral exports. Structural reforms progressed in several key areas: the budget process is more resilient to political pressure and quasi-fiscal activities were curtailed. In order to achieve sustainable and inclusive growth, it is necessary to advance the current reform efforts by strengthening the rule-based fiscal policy framework, ensuring financial sector soundness and improving governance. Risks are tilted toward the downside in the near term. Shocks to mineral demand can lead to sharp fall in exports, weakening growth outlook and fiscal accounts. A slowdown in growth could trigger financial instability given still inadequate capital buffers at some banks and overindebted households.

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 109 pages
Book Rating : 4.19/5 ( download)

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Download or read book Mongolia written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2023-10-04 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mongolia’s economic conditions stabilized by 2023H2, helped by China’s reopening. The economy was in a challenging position in 2022 with widening external and internal imbalances due to multiple global shocks, policy excesses and governance lapses. However, greater exchange rate (ER) flexibility; the government’s strenuous efforts to facilitate exports; an influx of new private external financing, and some moderation of global shocks helped lift economic activity, moderate inflation, and stabilize the external position by end-2022. Effective public debt management by the government mitigated rollover risks. A supplementary budget for 2023 introduced large and permanent expansions in wages, benefits, and pensions.

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Total Pages : 64 pages
Book Rating : 4.69/5 ( download)

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Download or read book Mongolia, ... Article IV Consultation written by and published by . This book was released on 2008 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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.

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 Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
ISBN 13 : 1484302354
Total Pages : 111 pages
Book Rating : 4.54/5 ( download)

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Download or read book Mongolia written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2017-05-31 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2017 Article IV Consultation highlights Mongolia’s promising longer-term prospects given its abundant natural resources. In recent years, however, the economy has faced substantial challenges, as external shocks and expansionary fiscal and monetary policies have compounded structural weaknesses. Mongolia remains heavily exposed to external shocks, given its export profile, and a key challenge will be to avoid the boom-bust cycles of the past. The discussions with authorities have focused on improving the fiscal framework and strengthening policy discipline, complemented by structural reforms to boost diversification and competitiveness and by efforts to strengthen and better target the social safety net.