Malaysia 2022 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Malaysia

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Malaysia: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malaysia

Author : International Monetary,International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 135 pages
File Size : 41,7 Mb
Release : 2022-04-28
Category : Business & Economics
ISBN : 9798400206696

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Malaysia: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malaysia by International Monetary,International Monetary Fund. Asia and Pacific Dept Pdf

Malaysia’s economy is showing signs of a gradual yet steady recovery thanks to the authorities’ impressive vaccine rollout, swift and coordinated implementation of multi-pronged support measures. The recovery nevertheless remains uneven and the output gap sizeable, with significant downside risks. Going forward, the authorities should calibrate macroeconomic policies to the pace of the recovery, while preserving policy space given pandemic-related uncertainties, and simultaneously accelerate structural reforms.

Malaysia

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 114 pages
File Size : 53,6 Mb
Release : 2024-03-10
Category : Business & Economics
ISBN : 9798400269837

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Malaysia by International Monetary Fund. Asia and Pacific Dept Pdf

Malaysia’s growth momentum has slowed but remains resilient to external headwinds. While monetary policy has paused its tightening cycle, fiscal policy is consolidating, and the ringgit had been under pressure through most of 2023. The government’s commitment to the reform priorities outlined in its national strategic plans is yet to fully materialize, with the economy’s path to high-income status hanging in the balance.

Cambodia

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 122 pages
File Size : 54,9 Mb
Release : 2022-12-18
Category : Business & Economics
ISBN : 9798400228520

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Cambodia by International Monetary Fund. Asia and Pacific Dept Pdf

After suffering a recession during the pandemic, the Cambodian economy was on a steady recovery path, but is facing new pressures in 2022 that have buffeted external demand and increased inflation rates. The authorities have largely continued with crisis policy responses and have pressed on with policy reforms. The recovery is projected to continue, notwithstanding external stresses. Risks of public debt distress remain low. However, the level of private debt raises concerns about potential debt overhang.

Vietnam

Author : International Monetary,International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 104 pages
File Size : 41,7 Mb
Release : 2022-07-05
Category : Business & Economics
ISBN : 9798400213786

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Vietnam by International Monetary,International Monetary Fund. Asia and Pacific Dept Pdf

Spurred by an impressive vaccination drive, the economy is rebounding from a severe pandemic wave. The government successfully maintained fiscal, external, and financial stability. Nonetheless, the labor market recovery is lagging, with sizeable underemployment, small and medium sized enterprises remain vulnerable, problem loans are rising, real estate and corporate bond market risks are elevated, and the pandemic exacerbated longstanding structural challenges.

Japan: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Japan

Author : International Monetary,International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 83 pages
File Size : 55,7 Mb
Release : 2022-04-06
Category : Business & Economics
ISBN : 9798400206542

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Japan: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Japan by International Monetary,International Monetary Fund. Asia and Pacific Dept Pdf

Pre-COVID-19, economic policies under “Abenomics” helped ease financial conditions, exit deflation, and raise labor market participation, but fell short on the deep reforms needed to raise productivity and achieve inclusive and sustainable growth. The Japanese economy is now recovering from the pandemic amid strong policy support that has helped to mitigate the downturn. Japan had substantially lower rates of COVID-related infections and deaths than most advanced economies.

India

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 90 pages
File Size : 51,5 Mb
Release : 2022-12-23
Category : Business & Economics
ISBN : 9798400228360

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India by International Monetary Fund. Asia and Pacific Dept Pdf

The economy has rebounded from the pandemic-related downturn but is facing new headwinds. The authorities have responded with fiscal policy measures to support vulnerable groups and to mitigate the economic impact of commodity price increases, as well as with front-loaded monetary policy tightening to address elevated inflation. A world class public digital infrastructure is facilitating innovation, productivity improvements and access to services. Further structural reforms, including to address the adverse impact of climate change, are needed to secure strong and sustainable growth.

Zimbabwe: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Zimbabwe

Author : International Monetary,International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 120 pages
File Size : 40,9 Mb
Release : 2022-04-08
Category : Business & Economics
ISBN : 9798400209086

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Zimbabwe: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Zimbabwe by International Monetary,International Monetary Fund. African Dept. Pdf

Zimbabwe experienced severe exogenous shocks (cyclone Idai, protracted drought, and the COVID-19 pandemic) during 2019-20, which along with policy missteps in 2019, led to a deep recession and high inflation. Real GDP contracted cumulatively by 11.7 percent during 2019-20 and inflation reached 837 percent (y/y) by July 2020. Reflecting good rainfall and relaxation of containment measures, real GDP rose by 6.3 percent in 2021. A tighter policy stance since mid-2020 (relative to 2019) has contributed to reducing inflation to 60.7 percent (y/y) at end-2021. However, high double-digit inflation and wide parallel foreign exchange (FX) market premia persist. The economic downturn and high inflation increased the financial system vulnerabilities. Extreme poverty has risen and about a third of the population is at risk of food insecurity. The international community seeks improvements in domestic political conditions and economic policies to initiate reengagement with Zimbabwe. The authorities have started token payments to external creditors in a bid to revive international reengagement.

Indonesia: 2022 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Indonesia

Author : International Monetary,International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 94 pages
File Size : 44,9 Mb
Release : 2022-03-22
Category : Business & Economics
ISBN : 9798400203886

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Indonesia: 2022 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Indonesia by International Monetary,International Monetary Fund. Asia and Pacific Dept Pdf

As elsewhere, the COVID-19 pandemic has led to tragic loss of life and triggered a major economic downturn in Indonesia. The authorities have responded with a bold and comprehensive policy package that has successfully maintained economic and financial stability. With the recovery underway, they have begun to withdraw the exceptional support measures. Nevertheless, the pandemic has caused scarring and reinforced the need to tackle longstanding structural challenges.

Key Challenges Faced by Fossil Fuel Exporters During the Energy Transition

Author : Diego Mesa Puyo,Augustus J Panton,Tarun Sridhar,Martin Stuermer,Christoph Ungerer,Alice Tianbo Zhang
Publisher : International Monetary Fund
Page : 33 pages
File Size : 54,7 Mb
Release : 2024-03-27
Category : Business & Economics
ISBN : 9798400270147

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Key Challenges Faced by Fossil Fuel Exporters During the Energy Transition by Diego Mesa Puyo,Augustus J Panton,Tarun Sridhar,Martin Stuermer,Christoph Ungerer,Alice Tianbo Zhang Pdf

The global energy transition is affecting fossil fuel exporters from multiple angles. It is adding to longstanding uncertainties on relative movements of fossil fuel demand and supply—which impact fossil fuel-related exports, fiscal flows, investment and subsequently external and fiscal accounts, economic growth, and employment. While policymakers are very familiar with these challenges, they now also face expectations of a permanent decline in the long-run global demand for fossil fuels. Key factors that could determine country-level impacts include (i) the type of fossil fuel a country exports (ii) extraction costs and (iii) country characteristics. The monitoring and mitigation of fiscal risks will need to be stepped up. Fiscal policy also has a role in reducing domestic emissions, encouraging adoption of low-carbon technologies, and helping those most vulnerable to changes from the transition. Broader macroeconomic risks can be reduced by accelerating ongoing structural reforms that support alternative engines of growth. Low- or zero-carbon emission energy industries could offer new avenues that build on existing fossil fuel knowledge and infrastructure. Concurrently, improved financial regulation and supervision could reduce financial sector exposures. Finally, international coordination on the design and implementation of climate policy as well as international transfer schemes (financing and capacity development) could reduce uncertainties surrounding the transition path and associated adverse economic consequences.

Peru: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Peru

Author : International Monetary,International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 93 pages
File Size : 40,9 Mb
Release : 2022-05-11
Category : Business & Economics
ISBN : 9798400208232

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Peru: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Peru by International Monetary,International Monetary Fund. Western Hemisphere Dept. Pdf

After being hit very hard by the pandemic in 2020, both in terms of health and economic outcomes, Peru experienced an equally strong economic rebound in 2021. A new administration was inaugurated in July 2021 with a program focused on reducing inequality and improving social conditions, but limited support from Congress and lack of cohesion heightened political uncertainty. While real GDP surpassed its pre-pandemic level by 2021, labor force participation and total employment have not fully recovered yet. Poverty increased significantly in 2020 and, despite some improvement in 2021, remains higher than in 2019. On May 27, 2021, the IMF Executive Board completed the mid-term review of Peru’s continued qualification under the Flexible Credit Line (FCL) arrangement.

Colombia: 2022 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Colombia

Author : International Monetary,International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 85 pages
File Size : 48,9 Mb
Release : 2022-04-04
Category : Business & Economics
ISBN : 9798400206115

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Colombia: 2022 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Colombia by International Monetary,International Monetary Fund. Western Hemisphere Dept. Pdf

Colombia’s economy rebounded strongly in 2021 with 10.6 percent growth led by pent-up domestic demand, notably private consumption. Around 66 percent of the population is fully vaccinated against Covid-19 as of end-February and the economy continues to reopen more fully. While GDP has already reached pre-pandemic levels, employment has trailed in its recovery and macroeconomic imbalances have emerged. Amid strong demand, supply constraints, and rising commodity prices, rising inflation exceeded the upper limit of the central bank’s tolerance range in 2021. With demand-led growth and higher import prices, the current account deficit widened to 53⁄4 percent of GDP. Under staff’s assumptions for the evolution of the pandemic, above-potential growth around 51⁄2 percent is expected in 2022, led by robust household consumption and a continued recovery of investment and exports. External vulnerabilities remain elevated with high external financing needs and tighter financial conditions. External risks remain elevated and an intensification of the ongoing conflict in Ukraine may impart considerable volatility in financial and commodity markets. Domestic risks are also tilted to the downside—including uncertainty around the evolution of the pandemic, political uncertainty with national elections this year, and slower implementation of the infrastructure agenda and peace accords.

Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand

Author : International Monetary,International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 104 pages
File Size : 44,6 Mb
Release : 2021-06-03
Category : Business & Economics
ISBN : 9781513573021

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Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand by International Monetary,International Monetary Fund. Asia and Pacific Dept Pdf

A nascent recovery is underway in Thailand following the COVID-19 downturn. Ample policy buffers, underpinned by judicious management of public finances, allowed the authorities to implement a multipronged package of fiscal, monetary, and financial policies to mitigate the COVID-19 impact on households, businesses, and the financial system. This, together with rigorous containment measures, led to a successful flattening of the infection curve during most of 2020. Nevertheless, the pandemic has taken a large toll on the economy, potentially inducing long-term scarring and increasing inequality.

Review of the Role of Trade in the Work of the Fund

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 99 pages
File Size : 40,9 Mb
Release : 2023-04-03
Category : Business & Economics
ISBN : 9798400237805

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Review of the Role of Trade in the Work of the Fund by International Monetary Fund. Strategy, Policy, & Review Department Pdf

This paper outlines key changes in the global trade landscape in recent years, reviews the role of the Fund in this area, and outlines a trade strategy for the Fund going forward. The analysis points to three key messages. First, while trade has been resilient vis-à-vis recent global shocks, the deteriorating trade policy environment poses risks to the current levels of prosperity. Second, the Fund has responded quickly to key trade developments in its multilateral surveillance, but attention to trade policy has declined pointing to the need of improved expertise. Third, a reinvigorated trade strategy for the Fund would help country authorities to address key challenges, including adjusting to structural changes associated with climate change and new technologies; promoting policy coherence between trade and non-trade objectives such as climate, inequality, and security; and managing rising geopolitical tensions and risks of geo-economic fragmentation.

Malaysia

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 101 pages
File Size : 55,8 Mb
Release : 2021-03-17
Category : Health & Fitness
ISBN : 9781513574202

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Malaysia by International Monetary Fund. Asia and Pacific Dept Pdf

Malaysia entered the pandemic from a robust economic position but has nonetheless been significantly affected. A synchronous fiscal, monetary and financial policy response has helped cushion the economic impact. As a result, after a deep recession in 2020, and assuming the pandemic is brought under control in Malaysia and globally, growth would rebound to 6.5 percent in 2021 as supply side constraints are lifted and domestic and external demand recover. Large downside risks will remain.

Nigeria: 2021 Article IV Consultation-Press Release; Staff Report; Staff Statement, and Statement by the Executive Director for Nigeria

Author : International Monetary,International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 86 pages
File Size : 48,9 Mb
Release : 2022-02-09
Category : Business & Economics
ISBN : 9798400200205

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Nigeria: 2021 Article IV Consultation-Press Release; Staff Report; Staff Statement, and Statement by the Executive Director for Nigeria by International Monetary,International Monetary Fund. African Dept. Pdf

The economy is recovering from a historic downturn thanks to policy support, rebounding oil prices and international financial assistance. Benefiting from the authorities’ pro-active approach, COVID-19 infection rates and fatalities have been contained. With higher oil prices and the country entering into the 2023 Presidential election cycle, there are risks of delays in much needed fiscal and exchange rate reforms. Macroeconomic and structural policies should build confidence and ensure a robust exit from the crisis.