Ecuador: 2021 Article IV Consultation, Second and Third Reviews Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Ecuador PDF Download

Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513599100
Category : Business & Economics
Languages : en
Pages : 138

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Book Description
The new administration has committed to continue with the Fund-supported Extended Fund Facility (EFF) of SDR 4,615 million (661 percent of quota, about $6.5 billion) that was approved by the IMF Executive Board on September 30, 2020. The authorities’ objectives under the program are to ensure an environmental-friendly growth with high quality jobs, promote a transparent management of public resources, and ensure equity in the conduct of fiscally sustainable policies. Upon the completion of the Second and Third Reviews under the EFF, an additional SDR $568 million would be made available.

Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 81

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Book Description
The Executive Board approved a 27-month Extended Fund Facility (EFF) for Ecuador on September 30, 2020. The EFF supported program built on an earlier EFF arrangement in 2019, which had been canceled, and came on the heels of a Rapid Financing Instrument (RFI) purchase in 2020. With a total access of US$6.5 billion, the 2020 EFF brought Ecuador’s cumulative access to 897 percent of quota, triggering exceptional access (EA). After five purchases and with some of the reviews combined, the arrangement expired in December 2022.

Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1484380037
Category : Business & Economics
Languages : en
Pages : 90

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Book Description
The key objectives of the program are to restore macroeconomic and debt sustainability, address falling reserves, and increase growth. The new government, which took office in late May, has committed to fiscal consolidation and structural reform as key tools for macroeconomic adjustment.

Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN:
Category :
Languages : en
Pages : 135

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Book Description
Liberia’s real per-capita income is still about a third of the level prior internal conflicts. Notwithstanding the strong economic rebound recorded after the pandemic, a large infrastructure gap has remained, and the expected domestic revenue mobilization has not materialized. These two factors have posed significant economic and fiscal challenges in the short and medium term. The implementation of the 2019-23 Fund-supported program was mixed, with a strong start followed by a disappointing performance ahead of the recent presidential elections. To address current and future challenges, fiscal discipline needs to be restored, governance vulnerabilities addressed, and the Central Bank of Liberia (CBL) governance, independence, and supervisory role strengthened. Therefore, scope for deviation from the established policy and reform agenda is very limited given the implications to debt sustainability and capacity to repay the Fund.

Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 148439139X
Category : Business & Economics
Languages : en
Pages : 95

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Book Description
Sierra Leone is a fragile state. Since emerging from a decade-long civil war in 2001, the country has made notable economic progress but has also suffered occasional setbacks, such as the Ebola Virus Disease epidemic of 2014. A three-year ECF arrangement was approved June 2017 to help address Sierra Leone’s macroeconomic weaknesses—in particular, low revenue, elevated inflation, high public debt, and inadequate foreign exchange reserve buffers—which had been exacerbated by the Ebola crisis and a collapse in iron ore prices (Country Report No. 17/154). However, the program went off track shortly after approval as lackluster revenue performance and expenditure overruns led to a budget cash shortfall and a growing stock of budget arrears. With the authorities unable to take corrective actions ahead of the March 2018 presidential elections the first review of the program was put on hold. Since then elections have produced a new government, marking the first change of power in ten years. This government has taken a number of corrective actions over the last six months with the aim of reviving the program engagement with the IMF.

Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1498354661
Category : Business & Economics
Languages : en
Pages : 96

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Book Description
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.

Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484324072
Category : Business & Economics
Languages : en
Pages : 42

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Book Description
This paper analyzes the effect of an IMF Staff-Monitored Program for Chad to enhance economic development. Weak institutional capacity and governance concerns have limited economic development and donor support in Chad. It is highlighted that the reduction in the nonoil primary deficit envisaged in the 2013 budget appears appropriate, but expenditures linked to the regional security situation and lower than anticipated oil revenues imply large financing needs. There are significant economic and political risks to program implementation,; the regional security situation remains volatile, and the economy is highly dependent on volatile oil revenue.

Author: Prema-chandra Athukorala
Publisher: Asian Development Bank
ISBN: 9292579746
Category : Business & Economics
Languages : en
Pages : 291

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Book Description
This is a pivotal period in Sri Lanka's economic development. The end of conflict opens a door for accelerated economic growth and poverty reduction. Reform is needed to regain momentum because fiscal imbalances and rising public debt could jeopardize macroeconomic stability. The economy would benefit from significant trade and commercial policy reform. The labor market suffers from sluggish growth of formal sector employment and from skills mismatches, which can be addressed by changes in education policy and systems. The book analyzes these and related critical constraints on the Sri Lankan economy, and proposes a set of policy reforms that would lay the foundations for more rapid and inclusive development.

Author: International Institute for the Unification of Private Law
Publisher: Unidroit
ISBN: 9788886449168
Category : Law
Languages : en
Pages : 329

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Book Description
The Federation Press is now the exclusive agent for Unidroit Books in Australia, New Zealand, Oceania and Asia except Japan. If you wish to purchase this book and do not live in these areas, please contact Unidroit directly. A comprehensive examination of the whole life of this type of arrangement, from the negotiation and drafting of the master franchise agreement and other associated agreements to the end of the relationship.The book deals primarily with the position of the parties directly involved, ie the franchisor and the sub-franchisor, but the position of others affected such as sub-franchisees, are covered where this is considered of particular importance.

Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1513567985
Category : Business & Economics
Languages : en
Pages : 118

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Book Description
The IMF Executive Board approved, on March 23, 2020, a 39-month Extended Credit Facility (ECF) arrangement in the amount of SDR 35 million (56.3 percent of quota) for The Gambia. The Gambia benefited from a Rapid Credit Facility (RCF) disbursement of SDR 15.55 million (25 percent of quota) approved on April 15, 2020 and is receiving debt service relief under the Catastrophe Containment and Relief Trust (CCRT) expected to total SDR 7.9 million (SDR 4.2 million of which has already been approved), to help meet heightened balance-of-payments and fiscal financing needs due to the impact of the COVID-19 pandemic. While indicators point to a domestic weakening of the pandemic, the authorities are seeking an ECF augmentation of SDR 20 million (32.15 percent of quota) to meet balance-of-payments needs arising from fiscal measures to stimulate the economic recovery in 2021, strengthen public health preparedness, increase social spending to mitigate the effects of the pandemic. They are also requesting a waiver of nonobservance of a continuous performance criterion (a zero ceiling) on new external payment arrears of the central government.