This Summary Report describes Afghanistan's Interim National Development Strategy (I-ANDS). It assesses the overall policy objectives, analyzes the context of and constraints to the achievement of those objectives, summarizes the government's key strategies and programs, and also reviews specific steps toward the implementation of the I-ANDS and the development of the full ANDS. It summarizes the government's proposed and ongoing sectoral programs and annual indicators against which progress may be measured. It also reviews the strategic plans developed by government line ministries and commissions.
Another, albeit uncounted, section of the population is involved with the various
stages of trafficking, processing, and marketing of the product, all of which add
more value than cultivation. The proportion of the population that benefits from ...
Mauritania’s poverty reduction strategy paper is based on a broadly participatory process and serves as the policy framework for the country’s economic and social policies. The focus is to accelerate economic growth and stabilize the macroeconomic framework, which benefits the poor, ensure the development of human resources and expansion of basic services, and improve governance and build capacity. In the revision the focus is to strengthen leadership, monitoring, evaluation, and coordination. Mauritania has to take up major challenges to achieve the objectives established at the outset.
... objectives yielded the following achievements: (i) preparation of a management and development plan for small scale and ... fish market is
compliant with prevailing standards; and (xv) improvement of health inspection of
fisheries products.
Over the past decade policy makers in Latin America have adopted a number of macroprudential instruments to manage the procyclicality of bank credit dynamics to the private sector and contain systemic risk. Reserve requirements, in particular, have been actively employed. Despite their widespread use, little is known about their effectiveness and how they interact with monetary policy. In this paper, we examine the role of reserve requirements and other macroprudential instruments and report new cross-country evidence on how they influence real private bank credit growth. Our results show that these instruments have a moderate and transitory effect and play a complementary role to monetary policy.
At this point, it is worth clarifying that given the complex structure of reserve
requirements in all countries, we rely exclusively on reserve requirement
changes to identify the policy shock. Thus rather than using an effective rate our
RR measure is based on a simple average of rates (in Brazil of demand and
savings deposits; in Colombia of checking and saving accounts, CD and bonds,
and in Peru the required rate as published by the central bank, see Figure 8).
This simple approach ...
This Selected Issues paper takes stock of the progress made in meeting the objectives under Indonesia’s Extended Arrangements (1998–2003) program. The paper addresses progress in achieving the programs’ core macroeconomic objectives, with an emphasis on how Indonesia’s economic recovery compares with those of the other major Asian “crisis” countries. A major conclusion of the paper is that, while significant progress has been made against many of the key objectives of the arrangements, Indonesia’s overall economic performance has lagged behind others in the region.
WAS IBRA SUCCESSFUL?1 A. Introduction 1. The Indonesian Bank
Restructuring Agency (IBRA) was established in January 1998 to handle
government efforts to recover from the banking and economic crisis. The crisis
decimated the ...
Rural-Urban Dynamics and the Millennium Development Goals
The Global Monitoring Report 2013: Rural-Urban Dynamics and the Millennium Development Goals examines rural-urban disparities in the achievement of the Millennium Development Goals (MDGs) and how urbanidation, if managed well, can contribute to the attainment of these goals. The report provides information about the differences in progress toward the MDGs across geographical areas and recognises that urban populations are better off than their rural brethren. However, unfettered urbanisation can cause migrants and the urban poor to end up in slums where attainment of the MDGs lags. GMR 2013 calls for an integrated strategy to better manage the planning-connecting-financing formula of urbanisation. Notwithstanding the importance of urbanisation in poverty reduction and MDG attainment, rural areas remain a huge challenge-one that underscores the importance of policies that can improve rural livelihoods. The rural-urban spectrum ranges from small towns to large cities. The general experience is that poverty is lowest in the largest cities and considerably higher in smaller towns. The MDGs reflect the basic needs of all citizens, and governments should aim to meet them fully in both urban and rural areas. However, resources are scarce, so priorities must be set and trade-offs made. The report argues that the sequencing of actions be tailored to local conditions when it comes to the degree of urbanisation and rural-urban differences in MDG outcomes. The world has met four global MDG targets. New estimates confirm the 2012 reports that MDG 1- reducing the $1.25-a-day poverty rate (2005 purchasing power parity) - was reached in 2010, falling below half of its 1990 value. The world also met part of MDG 7 - to halve the proportion of people without safe access to drinking water - in 2010. MDG 7 - to improve significantly the lives of at least 100 million slum dwellers by 2020 - was also achieved. Finally, the first part of MDG 3 - to eliminate gender disparity in primary education - was accomplished in 2010. Global progress on the full MDG 3 - (to eliminate gender disparity in primary and secondary education) is close to being on track. Global Monitoring Report 2013 was prepared jointly by the World Bank and the International Monetary Fund, with consultations and collaborations with regional development banks and other multilateral partners.
III-III I. I II I I I I I I I I I I I I I I I III II IIII I I ol I l I I I I I I I I II II II. II I I I I I nonam I I I III I I I I III
I I I I bus-ruv I I II I cono-lll I I I II I I I II I I I I I I I II III - I .I.I I I III I II !III I II II no II III II I I I II I III-III I o I II I I I I I I I u I II I I I I I I I I I I I I I II cau-vul I I I n I I I I II I II I II ulul I II ...
The Global Financial Stability Report (GFSR) provides expert and up-to-date analysis of global capital flows that play a critical role in world economic growth and Financial stability. The report focuses on current conditions in global Financial markets, analyzing Financial imbalances and structural issues that could pose risks to stability and sustained market access by emerging market borrowers. Along with the IMF’s semiannual World Economic Outlook, the GFSR is a key vehicle for communicating the IMF’s multilateral surveillance. The GFSR also draws out the Financial ramifcations of economic imbalances highlighted by the WEO, making it an indispensable companion publication.
This paper investigates whether developing and emerging market countries can implement monetary policies similar to those used by advanced countries during the recent global crisis - injecting significant amounts of money into the financial system without facing major short-run adverse macroeconomic repercussions. Using panel data techniques, the paper analyzes episodes of financial turmoil in 16 Latin America during 1995-2007. The results show that developing and emerging market countries should be cautious because injecting money on a large scale into the financial system may fuel further macroeconomic instability, increasing the chances of simultaneous currency crises.
I. INTRODUCTION The recent financial crisis in mature markets has put the role
of central banks in financial stability in the spotlight. In the large advanced
economies, central banks played an active role to prevent the collapse of their financial ...
This paper discusses Malawi’s Fifth and Sixth Reviews Under the Extended Credit Facility (ECF) Arrangement, Request for Waivers for Non-observance of Performance Criteria (PCs), Extension of the Arrangement, Modification of PCs, and Rephasing of Disbursements. Program implementation was uneven given external financing shortfalls with several PCs not being observed. Three out of seven PCs for the fifth review were not met, including the continuous PC on the contracting of nonconcessional external loans. The new authorities are firmly committed to the core policies and objectives of the original ECF-supported program. Program discussions focused on key policy actions to address these challenges and bring the program back on track.
This Technical Note examines the financial situation of Italian households and nonfinancial corporations and risks to the banking system. The credit risk from Italian households is mitigated by their considerable net wealth. Income has declined during the crisis, leading to tighter financial conditions for households, especially for young and low-income groups, but low indebtedness, high levels of assets, and declining interest rates have protected households from widespread debt payment difficulties. The financial situation of nonfinancial corporations, in particular small and medium-sized enterprises, is fragile, as evidenced by already high loan default rates. Continued strong policy action will be important to mitigate the impact of these vulnerabilities, especially for firms.
Also, further development of the private market for distressed assets would help
accelerate the disposal of non-performing loans and promote corporate
restructuring. Finally, with SMEs relying heavily on bank financing and suffering
from tight ...
