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A technical assistance (TA) mission visited Guinea during July 9–20, 2018, as part of the project funded by the Government of Japan to improve external sector statistics (ESS) in 17 Francophone African countries. This was the third mission under this project following the missions in 2016 and 2017. The mission was hosted by the Central Bank of the Republic of Guinea (BCRG), which is responsible for compiling ESS. The mission addressed the following main issues (i) improvement of the surveys on migrant remittances and informal trade; (ii) perform detailed technical work to improve ESS; and (iii) participation in the coordinated direct investment survey (CDIS) and the quarterly external debt statistics (QEDS) database. The mission also reviewed the status of implementation of the recommendations from the previous TA missions.

International finance. --- International monetary system --- International money --- Finance --- International economic relations --- Balance of payments statistics --- Balance of payments --- Computer Programs: Other --- Current Account Adjustment --- Data Collection and Data Estimation Methodology --- Econometrics & economic statistics --- Economic statistics --- Exports and Imports --- External sector statistics --- Extractive industries --- Financial account --- Foreign direct investment --- Industry Studies: Primary Products and Construction: General --- International finance --- International Investment --- Investments, Foreign --- Long-term Capital Movements --- Mineral industries --- Mining sector --- Natural Resource Extraction --- Short-term Capital Movements --- Statistics --- Guinea

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This Technical Assistance Report discusses the advice provided by the IMF staff to the authorities of Uganda regarding extractive industry fiscal regimes. As Uganda’s portfolio of projects diversifies in the oil sector, the minimum take could be adjusted to allow for possible bonus bids, and for higher shares in the most successful projects. The royalty design also needs to take account of new provisions for distribution of a portion to local governments. The cost recovery limit could be set at 70 percent after deduction of royalty. In addition to work program, either a signature bonus or an upper tier of production sharing should form the bid variable in the licensing round, with all other items fixed and non-negotiable.

Fiscal policy --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Government policy --- Investments: Energy --- Public Finance --- Natural Resource Extraction --- Energy: General --- Industry Studies: Primary Products and Construction: General --- National Government Expenditures and Related Policies: General --- Personal Income and Other Nonbusiness Taxes and Subsidies --- Business Taxes and Subsidies --- Public finance & taxation --- Investment & securities --- Extractive industries --- Oil --- Mining sector --- Expenditure --- Income and capital gains taxes --- Production sharing --- Commodities --- Economic sectors --- Taxes --- Petroleum industry and trade --- Mineral industries --- Expenditures, Public --- Income tax --- Oil and gas leases --- Uganda

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This Technical Assistance Report evaluates the National Accounts Mission in Mongolia. Mongolia’s national accounts statistics were found to be broadly adequate for IMF surveillance according to the most recent IMF Staff Report. The National Statistics Office is commended for having compiled the existing GDP data and for continuing to implement the current international standard. However, several areas for further improvement in national accounts statistics should be incorporated into the work program. These include the need to secure the National Statistics Office’s new institutional structure and enhance its staff’s skills mix, improve coordination among stakeholders, and upgrade the survey forms currently in use in order to compile enhanced estimates of GDP.

Gross domestic product. --- Gross domestic product --- Prices. --- Commercial products --- Commodity prices --- Justum pretium --- Price theory --- Consumption (Economics) --- Cost --- Costs, Industrial --- Money --- Cost and standard of living --- Supply and demand --- Value --- Wages --- Willingness to pay --- Domestic product, Gross --- GDP --- Gross national product --- Prices --- Macroeconomics --- Natural Resource Extraction --- Natural Resources --- General Aggregative Models: General --- Agricultural and Natural Resource Economics --- Environmental and Ecological Economics: General --- Industry Studies: Primary Products and Construction: General --- Nonrenewable Resources and Conservation: General --- Environmental management --- Extractive industries --- National accounts --- Natural resources --- Mining sector --- Non-renewable resources --- Environment --- Economic sectors --- National income --- Mineral industries --- Mongolia

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This 2019 Article IV Consultation with the Democratic Republic of the Congo (DRC) highlights that real gross domestic growth reached 5.8 percent in 2018, buoyed by stronger copper and cobalt prices and increased production. The main risks include an escalation of the Ebola epidemic; fiscal loosening leading to monetization of budget deficits; a relapse in copper and cobalt prices; an intensification of ongoing armed conflicts; and resistance to reform from vested interests. Transparency and accountability in the management of natural resources are major challenges facing DRC. It is recommended to step-up revenue mobilization, notably by simplifying taxes and integrating mining revenue into the central government Treasury. It is also important to enhance transparency, including through public tendering for the sale of mining assets, publication of audited financial statements of state-owned enterprises, and greater monitoring of public assets.

Congo (Democratic Republic) --- Economic conditions. --- Arrears --- Banking --- Banks and Banking --- Banks --- Computer Programs: Other --- Data Collection and Data Estimation Methodology --- Debt Management --- Debt service --- Debt --- Debts, External --- Debts, Public --- Depository Institutions --- Econometrics & economic statistics --- Economic sectors --- Expenditure --- Expenditures, Public --- Exports and Imports --- External debt --- Extractive industries --- Finance --- Finance: General --- Industry Studies: Primary Products and Construction: General --- International economics --- International Lending and Debt Problems --- Micro Finance Institutions --- Mineral industries --- Mining sector --- Mortgages --- National Government Expenditures and Related Policies: General --- Natural Resource Extraction --- Public debt --- Public finance & taxation --- Public Finance --- Sovereign Debt --- Statistics --- Congo, Democratic Republic of the

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In late 2015, the Chinese authorities launched a policy to reduce capacity in the coal and steel industries under the wider effort of Supply-Side Structural Reforms. Around the same time, producer price inflation in China started to pick up strongly after being trapped in negative territory for more than fifty consecutive months. So what is behind this strong reflation—capacity cuts in coal and steel, or a strengthening of aggregate demand? Our empirical analyses indicate that a pickup in aggregate demand, possibly due to the government’s stimulus package in 2015-16, was the more important driver. Capacity cuts played a role in propping up coal and steel prices, explaining at most 40 percent of their price increase.

Macroeconomics --- Economics: General --- International Economics --- Natural Resources --- Natural Resource Extraction --- Foreign Exchange --- Informal Economy --- Underground Econom --- Price Level --- Inflation --- Deflation --- Time-Series Models --- Dynamic Quantile Regressions --- Dynamic Treatment Effect Models --- Diffusion Processes --- Studies of Particular Policy Episodes --- Nonrenewable Resources and Conservation: General --- Industry Studies: Primary Products and Construction: General --- Metals and Metal Products --- Cement --- Glass --- Ceramics --- Economic & financial crises & disasters --- Economics of specific sectors --- Environmental management --- Extractive industries --- Financial crises --- Economic sectors --- Non-renewable resources --- Environment --- Producer price indexes --- Prices --- Mining sector --- Producer prices --- Metal prices --- Currency crises --- Informal sector --- Economics --- Natural resources --- Price indexes --- Mineral industries --- Metals --- China, People's Republic of