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Welfare Effects of Uzbekistan's Foreign Exchange Regime.
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ISBN: 146230057X 1452797692 1281602086 1451894937 9786613782779 Year: 2000 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

In addition to transferring about 16 percent of GDP from exporters to importers, Uzbekistan’s quasi-fiscal multiple exchange rate regime generates identifiable welfare losses of 2-8 percent of GDP on import markets and up to 15 percent on export markets. These excess burdens have increased substantially with the growing difference of exchange rates. The welfare analysis allows some conclusions regarding the optimal reform strategy: (i) welfare losses will decline overproportionally as exchange rates unify; (ii) exchange rate unification should be supplemented by changing the explicit fiscal system; (iii) at a minimum, Uzbekistan would benefit from moving to an explicit fiscal regime.


Book
Central bank quasi-fiscal losses and high inflation in Zimbabwe : a note
Authors: ---
ISBN: 1462354823 1452745072 1283519097 9786613831545 1451911157 Year: 2007 Publisher: [Washington, D.C.] : International Monetary Fund, African Dept.,

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Zimbabwe's failure to address continuing central bank quasi-fiscal losses has interfered with both monetary management and the independence and credibility of the Reserve Bank of Zimbabwe (RBZ). Realized quasi-fiscal losses are estimated to have amounted to about 75 percent of GDP in 2006. Because they were financed by creating money creation or issuing RBZ securities, they contributed to the four-digit inflation reached in 2006. The remedy for the current situation is clearly to eliminate the causes of losses by implementing measures to improve the cash-flow of the bank and restore its financial position.


Book
FDI to Africa : The Role of Price Stability and Currency Instability
Authors: ---
ISBN: 1462336981 1451986491 1281603937 9786613784629 1451890877 Year: 2003 Publisher: Washington, D.C. : International Monetary Fund,

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Africa lags behind other regions in attracting foreign direct investment (FDI). In some circumstances, there are obvious explanations for the absence of FDI, such as a high incidence of war. In this paper, we examine the role that monetary and exchange rate policy may have played in explaining this outcome. Specifically, we document the incidence of inflationary episodes and currency crashes in order to compare countries within the region as well as to make comparisons with other regions. Furthermore, since monetary policy can range from very transparent to very opaque, we assess Africa's track record with dual and parallel markets. We use the parallel market premia as an indicator of the degree of distortions and extent of transparency. Our findings suggest that this is a promising line of inquiry because Africa does stand apart from other regions in this measure of transparency. We also discuss some of the fiscal underpinnings of Africa's bouts with high inflation.


Book
Government Role and the Efficiency of Policy Instruments
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ISBN: 1462334814 1455292907 1281600857 9786613781543 1455285730 Year: 1995 Publisher: Washington, D.C. : International Monetary Fund,

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Comparisons about the role of the government in an economy are usually made by reference to the share of tax revenue or of public expenditure in gross domestic product. However, governments often use other tools for pursuing their objectives. The paper discusses these other tools, shows the extent to which they can replace the traditional fiscal instruments, and assesses their quantitative importance. Various highly speculative hypotheses are advanced about the role of these other tools in countries at different levels of development.


Book
Republic of Belarus : Selected Issues.
Authors: ---
ISBN: 1462314171 1452712174 1280886838 1451877455 9786613728142 Year: 2005 Publisher: Washington, D.C. : International Monetary Fund,

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This Selected Issues paper highlights the growth process in Belarus, seeking to identify its main sources and assess its sustainability. It complements the IMF staff report, which placed considerable emphasis on macroeconomic policies. It provides an overview of additional important factors underlying Belarus’s recent economic performance. It presents some further insights on the likely future path of main macroeconomic variables. The analysis suggests that, although several aspects of Belarus’s macroeconomic performance have been unusual, it is clear that domestic policies and favorable exogenous factors have combined to boost growth in recent years.


Book
Boletín del FMI Vol.35, No.6 abril 2006.
Authors: ---
ISBN: 146230978X 1455242764 Year: 2006 Publisher: Washington, D.C. : International Monetary Fund,

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El Boletín del FMI aborda de manera específica el trabajo del FMI y los grandes temas macroeconómicos y financieros internacionales y ofrece análisis sobre la evolución en los distintos países y regiones y en el mundo; información sobre las operaciones, políticas, reformas y asistencia técnica del FMI; síntesis de las principales investigaciones económicas mundiales; datos fundamentales que no suelen estar disponibles en otras fuentes, e informes sobre debates económicos y financieros que tienen lugar dentro y fuera del FMI. Este boletín de 16 páginas, publicado 12 veces al año, está orientado a una vasta audiencia, que incluye autoridades de política económica, analistas, profesionales del mundo académico y de los medios de difusión y estudiantes. Disponible en inglés, español y francés.


Book
Bulletin du FMI vol. 35, n° 6, avril 2006.
Authors: ---
ISBN: 1462369324 1455270008 Year: 2006 Publisher: Washington, D.C. : International Monetary Fund,

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En mettant l’accent sur le travail du FMI et sur les grandes questions macroéconomiques et financières internationales, le Bulletin du FMI présente une analyse des développements nationaux, régionaux et mondiaux, des informations sur le travail, les politiques, les réformes et les activités d'assistance technique du FMI, les conclusions d'études de calibre mondial, des données essentielles qui ne sont souvent pas disponibles ailleurs, ainsi que des rapports sur les discussions économiques et financières au sein du FMI et ailleurs. Publié douze fois par an, ce bulletin de seize pages s'adresse à un large public : dirigeants, analystes, chercheurs, étudiants et journalistes. Disponible en anglais, français et espagnol.


Book
Finance & Development, December 1967.
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ISBN: 1463959419 1463959400 1616352884 Year: 1967 Publisher: Washington, D.C. : International Monetary Fund,

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This paper discusses the project financed by the World Bank for controlling the flow of the Chao Phya River in Thailand. Chao Phya is the lifestream of the Thai people. However, this river, and its principal tributaries are, in their natural state, capricious rivers. In the early 1950s, the World Bank began assisting the Thai government in a series of projects designed to break this ancient tyranny of the rivers’ violent changes. The paper describes how the river is being tamed for irrigation and navigation, and how they are providing electric power and other benefits.


Book
Manuel sur la transparence des finances publiques.
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ISBN: 1463980256 146395204X 1589061276 Year: 2001 Publisher: Washington, D.C. : International Monetary Fund,

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Ce manuel fournit des orientations sur la mise en œuvre du code des bonnes pratiques en matière de transparence des finances publiques, en définissant de façon détaillée les principes et pratiques et en établissant des priorités d'amélioration de la transparence des finances publiques. Conçu comme un ouvrage de référence pour les économistes et les analystes financiers en ce qui concerne divers aspects de la transparence des finances publiques, le manuel comporte une rubrique sur les processus ouverts de préparation, d'exécution et d'information budgétaires, et présente les bonnes pratiques de l'OCDE en matière de transparence budgétaire.


Book
Algeria : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Algeria.
Authors: ---
ISBN: 1484367758 1484367693 Year: 2018 Publisher: Washington, D.C. : International Monetary Fund,

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This 2018 Article IV Consultation highlights the important challenges Algeria continues to face as a result of the fall in oil prices four years ago. Despite sizable fiscal consolidation in 2017, the fiscal and current account deficits remain large. Real GDP growth slowed sharply, driven mainly by a contraction in hydrocarbon production, although growth in the nonhydrocarbon sector was stable. Unemployment increased to 11.7 percent in September 2017 from 10.5 in September 2016 and remains particularly high among youth and women. Average inflation declined from 6.4 percent in 2016 to 5.6 percent owing to slowing inflation for manufactured goods and services, and stood at 3.4 percent year over year in April 2018.

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