Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper highlights Peru's Request for Arrangement Under the Flexible Credit Line (FCL). Peru qualifies for the FCL by virtue of its very strong fundamentals and institutional policy frameworks and track record of economic performance and policy implementation. The coronavirus disease 2019 shock poses an extraordinary challenge, which is pushing the Peruvian economy into a recession. The authorities have responded decisively by putting in place stringent containment measures and a large policy package to limit the socio-economic fallout, which has been possible thanks to Peru's ample fiscal space and monetary policy credibility. The package includes a broad set of measures aimed at containing the health emergency, supporting vulnerable businesses and households, and maintaining adequate credit flows to the economy. Nonetheless, and despite its very strong policy buffers, Peru remains vulnerable to external tail risks. A prolonged Covid-19 outbreak would have significant repercussions for trade and financial flows, which could put significant pressure on Peru's balance of payments and magnify the adverse domestic impact of the coronavirus disease 2019 shock.

Credit control.

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Credit control

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Credit control

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This Public Expenditure Review (PER) aims at informing government efforts to pursue its commitment to enhancing socioeconomic outcomes through more and better spending on human capital. To achieve this important objective, the Government of Egypt (GoE) aims at creating the fiscal space needed to increase growth-enhancing spending in a way that reflects positively on socioeconomic outcomes. This PER analyzes the adequacy, efficiency, and equity of public spending on the human development sectors. It examines options to create fiscal space by reducing inefficient and wasteful spending within this sector and increasing the impact of existing resources. From an equity perspective, the PER examines how public resources are distributed within the sector, and across income groups and/or geographical regions, and how system-wide reforms can reduce inequality in spending and outcomes. Drawing on a fiscal incidence analysis jointly carried out with the MOF, the distributional impact of potential fiscal measures and other policy changes is simulated to inform the reforms agenda. The first part of the review (Volume I) presents the macro-fiscal context and its constraints. It also presents an analysis of the social protection system in place to mitigate the effects of the challenging macroeconomic environment. The second part of the review (Volume II) focuses on the most difficult challenges facing the core human development sectors, namely health, education and higher education.

Credit control.

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This notification summarizes the outcome of consultations with Washington-based representatives of participants in the General Arrangements to Borrow (GAB) on a possible renewal of the GAB decision. By way of background, the GAB was established in 1962 and is a standing agreement between the Fund and 11 participants to supplement the Fund's quota resources (see Box 1). The GAB decision stipulates that the arrangements are subject to periodic renewal, and that decisions on renewal must be taken one year prior to expiration. The last renewal became effective in December 2013. Accordingly, the Fund would need to adopt a decision on renewal not later than twelve months before the end of the current period, id est, not later than December 25, 2017.

Credit control. --- Risk management.