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After several years of robust growth, real GDP growth slowed to 2.9 percent in 2008 owing to a decline in mining output. The nonmining primary deficit (NMPD) amounted to 28.6 percent of nonmining GDP in 2008/09, well above the 16.8 percent NMPD in 2007/08. Botswana continues to peg the pula to a...
Persistent link: https://www.econbiz.de/10011244730
This Selected Issues paper aims at discussing the impact of the oil windfall on Chad, with a focus on growth, poverty, competitiveness, and fiscal policy challenges posed by the oil revenue outlook. The paper discusses the reforms needed to remove structural factors that constraints the non-oil...
Persistent link: https://www.econbiz.de/10011245496
Over many years rises and fall of world oil prices have been repeatedly reflected in the boom-bust cycles in oil …-exporting countries the world over. The recent spectacular rise and equally spectacular fall in prices provides an opportunity to inquire … policy considerations for eight of the world's oil-producing countries in sub- Saharan Africa. Because we are interested in …
Persistent link: https://www.econbiz.de/10008528681
Equatorial Guinea’s macroeconomic performance in the recent period has been broadly satisfactory. Despite the macroeconomic environment, however, progress in alleviating poverty and meeting the MDGs has been slow. Executive Directors welcome the government’s intention to prepare a...
Persistent link: https://www.econbiz.de/10011243348
The overarching policy challenge facing Nigeria is to reduce widespread poverty and unemployment. Macroeconomic performance was broadly positive, underpinned by buoyant international oil prices and prudent fiscal and monetary policies. The fiscal targets and the medium-term fiscal consolidation...
Persistent link: https://www.econbiz.de/10011244107
Sound macroeconomic policies, good governance, and high levels of investment, supported by diamond and other mineral …
Persistent link: https://www.econbiz.de/10011244231
non-mineral balance in Botswana that is based on a notion of a "permanent income" from non-renewable resources. It is …
Persistent link: https://www.econbiz.de/10005248301
This Joint Staff Advisory Note reviews the Poverty Reduction Strategy Paper (PRSP) for Sierra Leone. The Poverty Reduction Strategy (PRS) provides an adequate framework for reducing poverty in Sierra Leone. The PRSP is the result of an extensive participatory process. The foundation of the PRSP...
Persistent link: https://www.econbiz.de/10005825255
This paper suggests that it is essential to save a substantial portion of mineral revenues now to ensure fiscal … sustainability for a post-diamond period. Taking the non-mineral primary balance into account can help clarify desirable fiscal …
Persistent link: https://www.econbiz.de/10011244070
Petroleum is now by far Timor-Leste’s largest source of income. If well harnessed, Timor-Leste’s petroleum wealth offers the potential for a more prosperous future. This Selected Issues paper provides an overview of how Timor-Leste’s Petroleum Fund functions. It considers...
Persistent link: https://www.econbiz.de/10011244701