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 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: 74.63 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 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: 28.54 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: 72.75 MB
Format: PDF
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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.

High Value Natural Resources And Post Conflict Peacebuilding

Author: Päivi Lujala
Publisher: Routledge
ISBN: 1136536698
Size: 36.73 MB
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High Value Natural Resources And Post Conflict Peacebuilding from the Author: Päivi Lujala. For most post-conflict countries, the transition to peace is daunting. In countries with high-value natural resources – including oil, gas, diamonds, other minerals, and timber –the stakes are unusually high and peacebuilding is especially challenging. Resource-rich post-conflict countries face both unique problems and opportunities. They enter peacebuilding with an advantage that distinguishes them from other war-torn societies: access to natural resources that can yield substantial revenues for alleviating poverty, compensating victims, creating jobs, and rebuilding the country and the economy. Evidence shows, however, that this opportunity is often wasted. Resource-rich countries do not have a better record in sustaining peace. In fact, resource-related conflicts are more likely to relapse. Focusing on the relationship between high-value natural resources and peacebuilding in post-conflict settings, this book identifies opportunities and strategies for converting resource revenues to a peaceful future. Its thirty chapters draw on the experiences of forty-one researchers and practitioners – as well as the broader literature – and cover a range of key issues, including resource extraction, revenue sharing and allocation, and institution building. The book provides a concise theoretical and practical framework that policy makers, researchers, practitioners, and students can use to understand and address the complex interplay between the management of high-value resources and peace. High-Value Natural Resources and Post-Conflict Peacebuilding is part of a global initiative led by the Environmental Law Institute (ELI), the United Nations Environment Programme (UNEP), the University of Tokyo, and McGill University to identify and analyze lessons in natural resource management and post-conflict peacebuilding. The project has generated six edited books of case studies and analyses, with contributions from practitioners, policy makers, and researchers. Other books in the series address land; water; livelihoods; assessing and restoring natural resources; and governance.

Energy Subsidy Reform

Author: Mr. Benedict J. Clements
Publisher: International Monetary Fund
ISBN: 1484339169
Size: 61.71 MB
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Energy Subsidy Reform from the Author: Mr. Benedict J. Clements. Energy subsidies have wide-ranging economic consequences. Although they are aimed at protecting consumers, subsidies aggravate fiscal imbalances, crowd out priority public spending, and depress private investment, including in the energy sector. Subsidies also distort resource allocation by encouraging excessive energy consumption, artificially promoting capital-intensive industries, reducing incentives for investment in renewable energy, and accelerating the depletion of natural resources. Most subsidy benefits are captured by higher-income households, reinforcing inequality. Even future generations are affected through the damaging effects of increased energy consumption on global warming. This book provides (1) the most comprehensive estimates of energy subsidies currently available for 176 countries and (2) an analysis of “how to do” energy subsidy reform, drawing on insights from 22 country case studies undertaken by the IMF staff and analyses carried out by other institutions.

The Political Economy Of Energy Subsidy Reform

Author: Gabriela Inchauste
Publisher: World Bank Publications
ISBN: 1464810087
Size: 16.40 MB
Format: PDF
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The Political Economy Of Energy Subsidy Reform from the Author: Gabriela Inchauste. This book proposes a simple framework for understanding the political economy of subsidy reform and applies it to four in-depth country studies covering more than 30 distinct episodes of reform. Five key lessons emerge. First, energy subsidies often follow a life cycle, beginning as a way to stabilize prices and reduce exposure to price volatility for low-income consumers. However, as they grow in size and political power, they become entrenched. Second, subsidy reform strategies vary because the underlying political economy problems vary. When benefits are concentrated, satisfying (or isolating) interest groups with alternative policies is an important condition for effective reform. When benefits are diffuse, it can be much harder to identify and manage the political coalition needed for reform. Third, governments vary in their administrative and political capacities to implement difficult energy subsidy reforms. Fourth, improvements in social protection systems are often critical to the success of reforms because they make it possible to target assistance to those most in need. Finally, the most interesting cases involve governments that take a strategic approach to the challenges of political economy. In these settings, fixing energy subsidies is central to the governments’ missions of retaining political power and reorganizing how the government delivers benefits to the population. These cases are examples of “reform engineering,†? where governments actively seek to create the capacity to implement alternative policies, depoliticize tariffs, and build credibility around alternative policies. The most successful reforms involve active efforts by policy leaders to identify the political forces supporting energy subsidies and redirect or inoculate them.

Risks And Reconstruction

Author: Michael M. Cernea
Publisher: World Bank Publications
ISBN: 9780821344446
Size: 14.97 MB
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Risks And Reconstruction from the Author: Michael M. Cernea. This book offers a multidimensional comparative analysis of two large groups of the world's displaced populations : resettlers uprooted by development and refugees fleeing military conflicts or natural calamities. The authors explore common central issues: the condition of being "displaced," the risks of impoverishment and destitu-tion, the rights and entitlements of those uprooted, and, most important, the means of reconstruction of their livelihoods. (Adapté de l'Introduction).

Encyclopedia Of Homelessness

Author: David Levinson
Publisher: SAGE
ISBN: 0761927514
Size: 45.18 MB
Format: PDF
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Encyclopedia Of Homelessness from the Author: David Levinson. A readerĘĽs guide is provided to assist readers in locating entries on related topics. It classifies entries into 14 general categories: Causes, Cities, Demography and Characteristics, Health issues, History, Housing, Legal issues, Advocacy and policy, Lifestyle issues, Organizations, Perceptions of homelessness, Populations, Research, Service systems and settings, World perspectives and issues.

Tax Havens

Author: Ronen Palan
Publisher: Cornell University Press
ISBN: 0801468566
Size: 65.86 MB
Format: PDF
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Tax Havens from the Author: Ronen Palan. From the Cayman Islands and the Isle of Man to the Principality of Liechtenstein and the state of Delaware, tax havens offer lower tax rates, less stringent regulations and enforcement, and promises of strict secrecy to individuals and corporations alike. In recent years government regulators, hoping to remedy economic crisis by diverting capital from hidden channels back into taxable view, have undertaken sustained and serious efforts to force tax havens into compliance. In Tax Havens, Ronen Palan, Richard Murphy, and Christian Chavagneux provide an up-to-date evaluation of the role and function of tax havens in the global financial system-their history, inner workings, impact, extent, and enforcement. They make clear that while, individually, tax havens may appear insignificant, together they have a major impact on the global economy. Holding up to $13 trillion of personal wealth-the equivalent of the annual U.S. Gross National Product-and serving as the legal home of two million corporate entities and half of all international lending banks, tax havens also skew the distribution of globalization's costs and benefits to the detriment of developing economies. The first comprehensive account of these entities, this book challenges much of the conventional wisdom about tax havens. The authors reveal that, rather than operating at the margins of the world economy, tax havens are integral to it. More than simple conduits for tax avoidance and evasion, tax havens actually belong to the broad world of finance, to the business of managing the monetary resources of individuals, organizations, and countries. They have become among the most powerful instruments of globalization, one of the principal causes of global financial instability, and one of the large political issues of our times.