Honduras: Fourth Reviews Under the Stand-by Arrangement and the Arrangement Under the Standby Credit Facility, Requests for Augmentation of Access, Extension and Rephasing of the Arrangements, and Waivers of Nonobservance of Performance Criteria-Press Release; Staff Report PDF Download
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Author: International Monetary Publisher: International Monetary Fund ISBN: 1513596101 Category : Business & Economics Languages : en Pages : 96
Book Description
The protracted pandemic and two tropical storms have hit Honduras hard. Despite authorities’ responses, these shocks continue to weigh on activity; reconstruction needs are high while the outlook remains uncertain. The authorities plan to rebuild a more climate-resilient economy, given Honduras’ vulnerabilities to climate change. Presidential elections are scheduled for November 2021.
Author: International Monetary Publisher: International Monetary Fund ISBN: 1513596101 Category : Business & Economics Languages : en Pages : 96
Book Description
The protracted pandemic and two tropical storms have hit Honduras hard. Despite authorities’ responses, these shocks continue to weigh on activity; reconstruction needs are high while the outlook remains uncertain. The authorities plan to rebuild a more climate-resilient economy, given Honduras’ vulnerabilities to climate change. Presidential elections are scheduled for November 2021.
Author: OECD Publisher: OECD Publishing ISBN: 9264979220 Category : Languages : en Pages : 150
Book Description
The OECD Public Governance Review of Honduras offers recommendations to strengthen the effectiveness, coherence and openness of the country’s public sector, and in particular its centre of government. It first provides an overview of Honduras’s public sector and assesses its performance across interrelated dimensions.
Author: Emanuele Massetti Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 28
Book Description
This Staff Climate Note is part of a series of three Notes (IMF Staff Climate Note 2022/001, 2022/002, and 2022/003) that discuss fiscal policies for climate change adaptation. A first Note (Bellon and Massetti 2022, henceforth Note 1) examines the economic principles that can guide the integration of climate change adaptation into fiscal policy. It argues that climate change adaptation should be part of a holistic, sustainable, and equitable development strategy. To maximize the impact of scarce resources, governments need to prioritize among all development programs, including but not limited to adaptation. To this end, they can use cost-benefit analysis while ensuring that the decision-making process reflects society’s preferences about equity and uncertainty. A second Note (Aligishiev, Bellon, and Massetti. 2022, henceforth Note 2) discusses the macro-fiscal implications of climate change adaptation. It reviews evidence on the effectiveness of adaptation at reducing climate change damages, on residual risks, and on adaptation investment needs, and suggests ways to integrate climate risks and adaptation costs into national macro-fiscal frameworks with the goal of guiding fiscal policy. It stresses that lower-income vulnerable countries, which have typically not contributed much to climate change, face exacerbated challenges that warrant increased international support. This third Note considers how to translate adaptation principles and estimates of climate impacts into effective policies.
Author: International Monetary Fund. Monetary and Capital Markets Department Publisher: International Monetary Fund ISBN: 1475598149 Category : Business & Economics Languages : en Pages : 90
Book Description
The AREAER provides a description of the foreign exchange arrangements, exchange and trade systems, and capital controls of all IMF Member countries.
Author: International Monetary Fund. Western Hemisphere Dept. Publisher: INTERNATIONAL MONETARY FUND ISBN: 9781513564166 Category : Business & Economics Languages : en Pages : 78
Book Description
The near-term outlook has worsened, while a recovery is expected for next year. Amid a weak health system and a surge in infections over the summer, the gradual reopening of the economy has faced setbacks and the pandemic is having a stronger and more protracted social and economic impact than expected. While the policy response to the Covid-19 shock was appropriately designed, there have been implementation challenges and delays. The authorities’ monitoring system of pandemic-related spending and civil society oversight helped identify missteps to implement corrective actions, for which they are receiving technical assistance from FAD and the Inter-American Development Bank (IDB). More recently, Honduras is also facing the challenge to respond to two tropical storms, which the authorities intend to manage within the contour of the current economic program.
Author: International Monetary Fund. Western Hemisphere Dept. Publisher: International Monetary Fund ISBN: 1513546368 Category : Business & Economics Languages : en Pages : 90
Book Description
This paper presents Honduras’ Second Reviews Under the Stand-By Arrangement and Arrangement Under the Stand-By Credit Facility, Requests for Augmentation and Rephasing of Access, and Modification of Performance Criteria. The coronavirus disease 2019 pandemic and external spillovers are expected to hit Honduras hard, and the augmentation of access will support the authorities’ response to mitigate the impact. The completion of the reviews will help Honduras meet urgent balance of payments needs stemming from the pandemic, including increased health care and social spending. The authorities continue to take steps to improve the institutional framework in the electricity sector. Important measures have been incorporated into the program. These aim at improving governance and facilitating the unbundling of the national electricity company. Tariffs continue to reflect the cost of electricity provision while providing subsidies to the poor. The augmentation of access under the Stand-By Arrangement and the Arrangement under the Standby Credit Facility should help the authorities cover external financing needs to mitigate the impact of the pandemic.
Author: Annamaria Kokenyne Publisher: International Monetary Fund ISBN: 1451917805 Category : Business & Economics Languages : en Pages : 21
Book Description
Since 1998, the staff of the International Monetary Fund has published a classification of countries'' de facto exchange rate arrangements. Experience in operating this classification system has highlighted a need for changes. The present paper provides information on revisions to the system in early 2009. The changes are expected to allow for greater consistency and objectivity of classifications across countries, expedite the classification process, conserve resources, and improve transparency.
Author: Mr. Dmitry Gershenson Publisher: International Monetary Fund ISBN: 1513592238 Category : Business & Economics Languages : en Pages : 77
Book Description
Despite some improvement since 2011, Latin America and the Caribbean continue to lag behind other regions in terms of financial inclusion. There is no clear evidence that fintech developments have supported greater financial inclusion in LAC, contrary to what has been observed elsewhere in the world. Case studies by national policy experts suggest that barriers to entry in the financial sector, along with a constraining regulatory environment, may have hindered a faster adoption of fintech. However, fintech development seems to have accelerated in the wake of the COVID-19 pandemic and with the support of recent policy initiatives.
Author: Aqib Aslam Publisher: International Monetary Fund ISBN: 1513561073 Category : Business & Economics Languages : en Pages : 50
Book Description
This paper examines the role of minimum taxes and attempts to quantify their impact on economic activity. Minimum taxes can be effective at shoring up the corporate tax base and enhancing the perceived equity of the tax system, potentially motivating broader taxpayer compliance. Where political and administrative constraints prevent reforms to the standard corporate income tax, a minimum tax can help mitigate base erosion from excessive tax incentives and avoidance. Using a new panel dataset that catalogues changes in minimum tax regimes over time around the world, firm-level analysis suggests that the introduction or reform of a minimum tax is associated with an increase in the average effective tax rate of just over 1.5 percentage points with respect to turnover and of around 10 percent with respect to operating income. Minimum taxes based on modified corporate income lead to the largest increases in effective tax rates, followed by those based on assets and turnover.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 149834075X Category : Business & Economics Languages : en Pages : 168
Book Description
The Fund’s concessional facilities are aimed at providing flexible and tailored support to low-income countries (LICs) in their efforts to achieve, maintain, or restore a stable and sustainable macroeconomic position consistent with strong and durable poverty reduction and growth.
Author: International Monetary
Author: International Monetary
Author: OECD
Author: Emanuele Massetti
Author: International Monetary Fund. Monetary and Capital Markets Department
Author: International Monetary Fund. Western Hemisphere Dept.
Author: International Monetary Fund. Western Hemisphere Dept.
Author: Annamaria Kokenyne
Author: Mr. Dmitry Gershenson
Author: Aqib Aslam
Author: International Monetary Fund