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KEY ISSUES Context: The current account is worsening, coinciding with peak debt service, limited market access, and low reserves. Although the authorities have taken ad hoc measures to curb acute exchange rate pressures during the summer, a stronger policy response is urgently needed to reduce...
Persistent link: https://www.econbiz.de/10014394311
EXECUTIVE SUMMARY Political context. The political environment has been broadly stable, albeit the ongoing dispute with gold company Centerra is creating tensions. In September, the government and Centerra signed a memorandum of understanding which stipulated the exchange of 33 percent of the...
Persistent link: https://www.econbiz.de/10012693810
Macroeconomic conditions deteriorated in 2012. Growth slowed to 2.7 percent from 5 percent in 2011. Both the external and fiscal deficits widened significantly, to 10 percent and 7.6 percent of GDP, respectively. The 2012 fiscal outcome entailed a significant slippage from the authorities’...
Persistent link: https://www.econbiz.de/10014394633
At the request of the Government of Liberia (GoL), the IMF Fiscal Affairs Department (FAD) led an external assessment of the central government’s public financial management (PFM) systems based on the Public Expenditure and Financial Accountability (PEFA) methodology. The assessment was...
Persistent link: https://www.econbiz.de/10014395641
Following years as a star performer, Ireland is undergoing a painful adjustment as critical internal imbalances unwind …. This 2009 Article IV Consultation highlights that the banking system of Ireland is under considerable stress as asset …
Persistent link: https://www.econbiz.de/10014405727
bank diagnostics have been completed. Ireland has pulled back from a severe banking crisis with the support of the EU … area market tensions. Continued determined policy implementation is nonetheless needed on a range of fronts before Ireland … help ensure Ireland’s return to market financing is lasting. Addressing mortgage arrears and completing bank repairs. Very …
Persistent link: https://www.econbiz.de/10014411273
Ireland's recovery has strengthened yet political challenges to adjustment appear to have increased. The recovery is …-term goal as it will put Ireland's high public debt firmly on a downward path and enable fiscal policy to cushion the economy … commercial loans.Recent proposals by the Central Bank of Ireland (CBI) to strengthen regulation of mortgage loan origination are …
Persistent link: https://www.econbiz.de/10014411905
Ireland’s growth and debt sustainability would greatly reinforce prospects for Ireland to regain market access at an early … stage given more adverse circumstances. Reports suggest that investors are differentiating Ireland based on its policy …
Persistent link: https://www.econbiz.de/10014397151
The Irish authorities steadfastly maintained strong policy implementation despite a sharp escalation and expansion of stress in euro area sovereign bond markets. Strengthened European support is welcome, but early implementation is key, and restoring broader stability in the euro area is...
Persistent link: https://www.econbiz.de/10014398306
Ireland has made progress in overcoming the economic crisis. The new coalition government’s strategy for restoring … foster Ireland's economy …
Persistent link: https://www.econbiz.de/10014399023