Niger Second And Third Reviews Under The Extended Credit Facility Arrangement And Requests For Waivers Of Nonobservance Of Performance Criteria And For Extension Of The Program Period And Arrangement Rephrasing Of Disbursements And Modification Of Performance Criteria Staff Report Press Release And Statement By The Executive Director For Niger

Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1498338836
Size: 35.35 MB
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Niger Second And Third Reviews Under The Extended Credit Facility Arrangement And Requests For Waivers Of Nonobservance Of Performance Criteria And For Extension Of The Program Period And Arrangement Rephrasing Of Disbursements And Modification Of Performance Criteria Staff Report Press Release And Statement By The Executive Director For Niger from the Author: International Monetary Fund. African Dept.. This paper discusses Niger’s Second and Third Reviews Under the Extended Credit Facility (ECF) Arrangement and Requests for Waivers of Nonobservance of Performance Criteria and for Extension of the Program Period and Arrangement. Fiscal performance was broadly in line with program targets. The medium-term outlook appears favorable, with robust growth benefiting from important natural resource sector investments. However, the outlook is vulnerable to high domestic and external risks, including potential spillovers from the security situation in the region and climatic shocks. The IMF staff recommends the completion of the second and third reviews under the ECF.

Niger

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Niger from the Author: . "Niger's economic performance suffered from the harmful effects of several exogenous shocks in 2013. Below average rainfall in the second half of the year, along with the deterioration of the security situation in the region, adversely affected real GDP growth. The combination of these shocks also impacted the fiscal and external positions, owing to increased security-related spending and lower exports and FDIs, and put additional strains on the fragile socio-economic environment, characterized by high food insecurity and weak provision of social services. Inflation remains low. Program: Despite these developments, the authorities have shown strong commitment to the Extended Credit Facility (ECF) program (approved on March 16, 2012 in an amount of SDR 78.96 million or 120 percent of quota). Program slippages in late 2012 resulted in three of the five performance criteria being missed. The implementation of key corrective measures, including strengthened revenue collections, has brought the program back on track, but overspending on current expenditures (half of which related to security) combined with temporary delays in receipt of external budgetary assistance, resulted in the end-June 2013 performance criterion on domestic financing being missed. In addition, reflecting insufficient coordination within the government, the performance criterion on the contracting of nonconcessional external debt was also missed. The authorities request waivers for the nonobservance of the missed performance criteria on the basis of corrective actions taken, including institutional changes to improve debt management. The prior action for the completion of this review was met, and progress continues to be made in implementing the structural benchmarks. Outlook and risks: The medium-term outlook appears favorable, with robust growth benefitting from important natural resource sector investments. However, the outlook is vulnerable to high domestic and external risks, including potential spillovers from the security situation in the region and climatic shocks. New borrowing arrangements will need to be managed prudently to contain debt vulnerabilities. Staff views: Staff recommends the completion of the second and third reviews under the ECF. Completion of these reviews will result in disbursement of an amount equivalent to SDR 22.56 million under the ECF arrangement"--Abstract.

Niger 2014 Article Iv Consultation And Fourth And Fifth Reviews Under The Extended Credit Facility Arrangement And Request For Waiver Of Nonobservance Of Performance Criteria Staff Report Press Release And Statement By The Executive Director For Niger

Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1498302742
Size: 59.36 MB
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Niger 2014 Article Iv Consultation And Fourth And Fifth Reviews Under The Extended Credit Facility Arrangement And Request For Waiver Of Nonobservance Of Performance Criteria Staff Report Press Release And Statement By The Executive Director For Niger from the Author: International Monetary Fund. African Dept.. This 2014 Article IV Consultation highlights that Niger’s overall macroeconomic performance has been broadly satisfactory. After the economic slowdown in 2013 owing to the regional security situation and adverse climatic conditions, economic growth has rebounded in 2014. Inflation has been contained, in part owing to the government’s efforts to improve food security and the functioning of food markets. However, program performance has been mixed, as a combination of unexpected security and food expenditures and a shortfall in external financing have strained fiscal management. In the near term, containing the fiscal deficit through measures to improve tax policy and administration, reform customs administration, and reduce exemptions is essential to ensure sustainability.

Liberia Third Review Under The Extended Credit Facility Arrangement And Request For Waiver Of Nonobservance Of Performance Criterion And Modification Of Performance Criteria Staff Report And Press Release

Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1498397875
Size: 50.88 MB
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Liberia Third Review Under The Extended Credit Facility Arrangement And Request For Waiver Of Nonobservance Of Performance Criterion And Modification Of Performance Criteria Staff Report And Press Release from the Author: International Monetary Fund. African Dept.. This paper focuses on Liberia’s Third Review Under the Extended Credit Facility (ECF) Arrangement and Request for Waiver of Nonobservance of Performance Criterion (PC) and Modification of Performance Criteria. Real GDP grew at 8.7 percent in 2013 and is projected to decline to 5.9 percent in 2014 as mining production decelerates. Most end-December 2013 PCs and indicative targets (ITs) were met, except for the PC on government revenue and the IT on external borrowing. Four out of five structural benchmarks were met on time. The IMF staff supports the completion of the third ECF review.

Dieses Mal Ist Alles Anders

Author: Carmen Reinhart
Publisher: FinanzBuch Verlag
ISBN: 3862484386
Size: 72.65 MB
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Dieses Mal Ist Alles Anders from the Author: Carmen Reinhart. Dieses Mal ist alles anders. Die derzeitige Krise ist überhaupt nicht vergleichbar mit vergangenen Situationen – darin sind sich die Experten einig, wann immer ein Wirtschaftssystem oder ein Staat zusammenbricht. Carmen Reinhart und Kenneth Rogoff haben die Crashs der letzten 800 Jahre analysiert. Ihr erstaunliches Ergebnis: In Wahrheit sind es doch immer die gleichen Fehler, die zum Kollaps geführt haben.

Die Schatten Der Globalisierung

Author: Joseph Stiglitz
Publisher: Siedler Verlag
ISBN: 3641202779
Size: 66.46 MB
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Die Schatten Der Globalisierung from the Author: Joseph Stiglitz. Explodierende Aktienkurse und scheinbar nie dagewesenes Wirtschaftswachstum kennzeichneten die »Goldenen Neunziger« – bis der Absturz in eine weltweite, tiefe und bis heute andauernde Rezession folgte. Was ist schief gelaufen? Nobelpreisträger Joseph Stiglitz zeigt, welchen Kräften sich der schwindelerregende Boom verdankte und inwiefern in ihm bereits die Saat der Zerstörung angelegt war. Stiglitz, als Berater der ersten Clinton-Administration und später Chefökonom der Weltbank ein intimer Kenner des »Tatorts Washington« (NZZ) und der internationalen Konzernzentralen, weiß von den strategischen Entscheidungen in den innersten Zirkeln von Politik und Wirtschaft zu berichten, aber auch von den hitzigen Debatten, die diesen vorausgingen. Selbstkritisch beleuchtet er die globalen Folgen ihres gemeinsamen Tuns: Wie ist die Fixierung auf den Defizitabbau heute zu bewerten? Wie wirkt sich die von der US-Regierung exzessiv betriebene Deregulierung des Marktes aus? Wohin hat uns die Maxime, Eigennutz diene automatisch auch der Allgemeinheit, geführt? Das Gleichgewicht zwischen Staat und Markt ist verloren gegangen, so Stiglitz’ zentrale These. Um diese Balance wiederherzustellen, entwickelt Stiglitz eine überzeugende Alternative zum Diktat des Marktes – denn das, so zeigt er auf provozierende Weise, ist nicht nur wenig sozial, sondern auf lange Sicht sogar unwirtschaftlich.