Beirut faces a massive challenge on aid and reform

2020 ◽  
Keyword(s):  
Public Debt ◽  
Financial System ◽  
Safety Nets ◽  
Currency Devaluation ◽  
Content Type ◽  
The Government ◽  
Social Safety Nets ◽  
Patronage System ◽  
The Imf

Significance The government has drawn up a detailed document setting out the gravity of the country’s economic plight and requesting over 10 billion dollars of additional aid from the IMF and other donors to support reforms aiming to put the economy on a sound footing by 2024. Many of the reforms are familiar, but others are new and radical, including devaluation and drastic measures to reduce public debt and restructure the financial system. Impacts Elites will broadly support the plan, seeing few alternatives. Currency devaluation will contribute to inflation and could push many more people into poverty. The IMF programme will include social safety nets, though these may exclude some of the most vulnerable, including refugees. Measures will struggle to address the deep-rooted corruption that is intrinsic to Lebanon’s sectarian patronage system.

scholarly journals Pakistan: Breaking Out of Stagflation into Sustained Growth

2011 ◽  
Vol 16 (Special Edition) ◽  
pp. 13-30 ◽  
Author(s):  
Rashid Amjad ◽  
Musleh ud Din Musleh ud Din ◽  
Abdul Qayyum Abdul Qayyum
Keyword(s):  
Output Growth ◽  
Current Debate ◽  
Safety Nets ◽  
Supply Shocks ◽  
Fiscal Balance ◽  
The Government ◽  
Role Of The Government ◽  
Social Safety Nets ◽  
Macroeconomic Management

This paper proposes that the underlying cause of the macroeconomic problems facing Pakistan today are a series of supply shocks which have constrained output growth. It is argued that while the current debate has solely focused on government expenditures and revenues, it is critical to also address the acute energy shortages which is constraining supply. The paper goes on to present four recommendations for breaking out of the present stagflation: (i) prudent macroeconomic management, (ii) reviving the role of the government in development while restoring fiscal balance, (iii) loosening monetary policy in order to spur the private sector, and (iv) improving social safety nets.

scholarly journals The Social Safety Nets and Poverty Alleviation in Pakistan: An Evaluation of Livelihood Enhancement and Protection Programme

2021 ◽  
Vol 3 (1) ◽  
pp. 21-36
Author(s):  
Asif Javed ◽  
Vaqar Ahmed ◽  
Bakhrul Khair Amal
Keyword(s):  
Poverty Alleviation ◽  
Skills Training ◽  
Safety Net ◽  
Sustainable Livelihood ◽  
Social Safety Net ◽  
Safety Nets ◽  
Poor Households ◽  
The Social ◽  
The Government ◽  
Social Safety Nets

Sustainable Development Goal (SDG) 1 intends to end poverty of all forms and the government of Pakistan is also targeting poverty alleviation through social safety nets. ‘Ehsaas’ is the major social safety nets proramme which include various initiatives that are benefiting millions of households. The study examines the state of poverty in Pakistan and also highlights the spending under each social safety net. Furthermore, the study also evaluates the Livelihood Enhancement and Protection (LEP) programme which is a major initiative for poverty alleviation under Ehsaas programme. Survey in Khyber Pakhtunkhawa and Balochistan provinces were conducted of those beneficiaries who are getting asset and skills training. It was found that asset provision and skills trainings are helpful in increasing the earnings and provide sustainable livelihood opportunities to poor households.

Ghana's IMF bailout to persist despite souring ties

2016 ◽  
Keyword(s):  
Central Bank ◽  
Budget Deficit ◽  
Credit Rating ◽  
Gdp Growth ◽  
Content Type ◽  
Bank Financing ◽  
Electricity Crisis ◽  
Manufacturing Activity ◽  
The Government ◽  
The Imf

Significance Earlier this month, the government passed a bill allowing for central bank financing of the budget deficit, contravening a core requirement in its agreement with the Fund. Earlier breaches led to the fourth tranche of the bailout (worth 114 million dollars) being withheld. Impacts Other donors will withhold aid disbursements until the impasse between Accra and the IMF is resolved. The electricity crisis will continue to undermine manufacturing activity, contributing to disappointing GDP growth. Ivory Coast's pro-business reforms mean it could attract investors deterred by Ghana's economic woes. Prolonged tensions with the IMF coupled with a deterioration its Ghana's fiscal metrics may drive a credit rating downgrade.

HDZ leader could supplant Croatia's non-party premier

2016 ◽  
Keyword(s):  
Decision Making ◽  
Public Debt ◽  
Social Situation ◽  
Content Type ◽  
Reform Agenda ◽  
The Public ◽  
Nationalist Party ◽  
Ethnic Tensions ◽  
The Government ◽  
Uncertain Outcomes

Significance The package could be the government's swan song. One coalition party, the centre-right Bridge (Croatian: Most) of Independent Lists, strongly supported a reform agenda from the beginning, but Croatia's main nationalist party, the Croatian Democratic Union (HDZ), did not. This, in addition to key appointments, has become a major point of dispute between them, blocking decision-making. HDZ leader Tomislav Karamarko has been frustrated in his ambition to control the government and especially the security apparatus. Impacts Political instability could cause further political and ethnic tensions, with uncertain outcomes. Persistent deadlock will worsen Croatia's parlous economic and social situation. Instability could frustrate consolidating Croatia's exit from its six-year recession in 2015 and reducing the public debt from 87% of GDP.

Port expansion will aid Morocco's trade hub ambitions

2016 ◽  
Keyword(s):  
Performance Index ◽  
Business Environment ◽  
Election Campaign ◽  
Content Type ◽  
The World ◽  
The Government ◽  
Policy Priority ◽  
Logistics Performance Index ◽  
Port Expansion ◽  
The Imf

Subject Logistics performance. Significance Morocco's aspiration to become a trade and industrial hub for the Atlantic and Mediterranean basins has received a setback with the publication of the World Bank's 2016 Logistics Performance Index on June 28. Morocco's ranking fell to 86th place, from 50th in 2012. Impacts Morocco's fall in logistics performance and corruption rankings could be used to attack the government in the election campaign. It could also provide an incentive to reform the business environment, which the IMF has highlighted as a policy priority. Morocco's advantages compared to its regional peers will outweigh investor concerns over the rankings.

Higher Chile growth faces domestic and external risks

2018 ◽  
Keyword(s):  
United States ◽  
Economic Growth ◽  
The United States ◽  
Medium Term ◽  
Content Type ◽  
Growing Economy ◽  
Fiscal Austerity ◽  
The Government ◽  
The Imf

Significance After four sluggish years, economic growth has been picking up steadily since mid-2017. However, as noted by Moody’s, medium-term prospects remain hampered by reliance on copper exports as, in the shorter term, has also been apparent in the context of the tariff war between the United States and China. Impacts According to the IMF, Chile will be the region’s fastest-growing economy this year, just ahead of Peru. The government will walk tightrope between a need for fiscal austerity and social demands. The tariff war will underscore the pressing need for diversification out of commodity exports.

IMF will worry about Cairo's debt burden later

2017 ◽  
Keyword(s):  
Interest Rate ◽  
Public Debt ◽  
Government Expenditure ◽  
Fiscal Year ◽  
Indirect Taxation ◽  
Content Type ◽  
The Public ◽  
Debt Burden ◽  
The Government ◽  
Domestic Interest Rate

Significance The review will take into account the effects of measures taken thus far, in particular the flotation of the Egyptian pound, and will assess the government’s budget for the 2017-18 (July-June) fiscal year. Impacts The government will struggle to reduce the deficit because of the scale of public debt and the record high domestic interest rate. Government expenditure on wages will rise at a much lower rate than inflation. The public will also face further rises in indirect taxation, revenue from which is projected to rise by 40%. The IMF is unlikely to raise any serious objections to the government’s plans.

Laos’s economic needs will stymie push to curb graft

2019 ◽  
Keyword(s):  
River Basin ◽  
Public Debt ◽  
Prime Minister ◽  
Mekong River ◽  
International Organisations ◽  
Content Type ◽  
Mekong River Commission ◽  
Revolutionary Party ◽  
Hydroelectric Projects ◽  
The Government

Subject Laos's infrastructure and anti-corruption drives. Significance Prime Minister Thongloun Sisoulith is aiming to tackle rising public debt and corruption. The ruling Lao People’s Revolutionary Party (LPRP) last year suspended approval of new hydroelectric projects following the collapse of a dam in the Mekong river basin, but the country is committed to developing hydropower. Impacts The four-country Mekong River Commission will have limited influence over Lao hydropower policy. Anti-corruption efforts will not result in political challenges to the LPRP. The government will aim to persuade international organisations active in Laos of its new openness.

Russia's COVID-19 challenge will come outside Moscow

2020 ◽  
Keyword(s):  
Public Health ◽  
Infection Control ◽  
National Health System ◽  
Protective Equipment ◽  
Safety Nets ◽  
Health Crisis ◽  
Content Type ◽  
Public Health Challenges ◽  
Control Procedures ◽  
Social Safety Nets

Subject Russian health crisis. Significance Russia now has the world's second-highest number of cases, increasing by 9,000-10,000 per day during May. Moscow is the epicentre, but the virus is spreading, placing further pressure on the national health system. More than half of Russia's 85 regions have reported at least 1,200 cases. Impacts Early relaxation of lockdown would be damaging in regions where COVID-19 is still in the emerging phase. As cases rise, shortages of protective equipment and lax infection control procedures will become the largest public health challenges. Economic contraction will hamper government social policy programmes and expose the fragility of the health and social safety nets.

Expansionary Jordanian budget will contain discontent

2019 ◽  
Keyword(s):  
Social Media ◽  
Tax Evasion ◽  
Prime Minister ◽  
Economic Reforms ◽  
Positive Signal ◽  
Content Type ◽  
Credit Line ◽  
Public Scrutiny ◽  
The Government ◽  
The Imf

Significance That comes as the country’s own parliament prepares to vote on the 2020 fiscal bill before the end of the year. Amman is currently in the last year of a 723-million-dollar IMF credit line, which required it to cut debt levels. The budget is intended to stimulate growth and stave off further protests, while simultaneously persuading the IMF to extend its credit line for another three years during upcoming talks in January. Impacts There will be closer cooperation between the government and parliament over managing the economy. Signs of unrest and public discontent over economic reforms will ease, notably if a tax evasion crackdown features on social media. Razzaz will survive another year as prime minister, having already served 18 months, sending a positive signal to the IMF and investors. King Abdullah and Queen Rania will come under less public scrutiny and distance themselves further from day-to-day politics.

Sign in / Sign up

Export Citation Format

Share Document