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on Islamic Finance |
| By: | International Monetary Fund |
| Abstract: | This paper discusses Islamic Republic of Mauritania’s Third Review of Arrangement under the Extended Credit Facility. The program aims at entrenching macroeconomic stability, supporting inclusive and job creating growth, and building international reserve buffers. The authorities plan to use the prospective fiscal space prudently for priority social spending—education, health, and social protection—and public infrastructure. The economic outlook has improved, buoyed by more favorable terms of trade and the upcoming development of a large offshore gas field. Growth is projected to accelerate to 6 3/4 percent this year, supported by a recovery in extractive sectors and continued broad-based non-extractive growth reflecting strong domestic demand and budding diversification. Downside risks related to global economic developments, commodity price volatility, and regional security concerns remain elevated. Considerable challenges remain to entrench macroeconomic stability, support inclusive growth, and build resilience to shocks. The prospective fiscal space should be used prudently for priority social policies and public infrastructure. |
| Keywords: | Public debt;External debt;Fiscal stance;Credit;Debt sustainability analysis;ISCR,CR,government,GDP,real GDP,price |
| Date: | 2019–05–31 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2019/145&r=all |
| By: | International Monetary Fund |
| Abstract: | This paper discusses Afghanistan’s Fifth Review under the Extended Credit Facility (ECF) Arrangement and Request for Modification of Performance Criteria. The paper highlights that in the face of many headwinds, Afghanistan’s government continues to demonstrate strong ownership of the program supported by the ECF arrangement. The economic outlook is clouded by numerous uncertainties; however, ongoing peace negotiations offer hope for a much-needed improvement in the security situation. The security situation remains strained, but the US-Taliban peace negotiations have improved prospects for a political settlement. External financing should continue to rely on grants and concessional funding. Any scaling up of externally financed public investment should be gradual and preceded by an assessment of macro-fiscal implications and strengthened debt management. Continued reforms remain key to achieving higher and more inclusive growth. Reforms in support of fiscal sustainability, institution building, anti-corruption efforts, and financial stability should continue. |
| Keywords: | Banking;Credit;Budget planning and preparation;International reserves;Expenditure;ISCR,CR,government,execution,export promotion initiative,doing business ranking,government institution |
| Date: | 2019–06–10 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2019/157&r=all |