Riding the Storm: Fiscal Sustainability in the Caribbean
Riding the Storm: Fiscal Sustainability in the Caribbean

Author: Mr.Serhan Cevik

Publisher: International Monetary Fund

Published: 2020-01-31

Total Pages: 19

ISBN-13: 1513526367

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Fiscal sustainability remains a paramount challenge for small economies with high debt and greater vulnerability to climate change. This paper applies the model-based sustainability test for fiscal policy in a panel of 16 Caribbean countries during the period 1980–2018. The results indicate that the coefficient on lagged government debt is positive and statistically significant, implying that fiscal policy in the Caribbean takes corrective actions to counteract an increase in the debt-to-GDP ratio. Nonlinear estimations, however, show that the quadratic debt parameter is negative, which indicates that fiscal policy response is not adequate to ensure sustainability at higher levels of debt. We also find that the fiscal stance tends to be countercyclical on average during the sample period. These empirical results confirm that maintaining prudent fiscal policies and implementing growth-enhancing structural reforms are necessary to build fiscal buffers and ensure debt sustainability with high probability even when negative shocks occur over the long term.

Back to the Future: Fiscal Rules for Regaining Sustainability
Back to the Future: Fiscal Rules for Regaining Sustainability

Author: Mr.Serhan Cevik

Publisher: International Monetary Fund

Published: 2019-11-08

Total Pages: 22

ISBN-13: 1513519867

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This paper assesses the cyclicality and sustainability of fiscal policy in Belize and applies a stochastic simulation model to determine the optimal set of fiscal rules. The empirical analysis shows that fiscal policy in Belize has been significantly procyclical and unsustainable much of the period since 1976. While the government’s recent commitment to maintain a primary surplus of at least 2 percent of GDP until 2021 is supporting debt reduction, stochastic simulations indicate that further improvement in the primary balance is necessary to reliably bring the debt-to-GDP ratio to a sustainable path. Given Belize’s history of large economic shocks, this paper proposes explicit fiscal rules designed for countercyclical policy and debt sustainability. It recommends integrating such rules into a well-designed fiscal responsibility law and establishing an independent fiscal council to improve accountability and transparency.

Macro-Fiscal Implications of Adaptation to Climate Change
Macro-Fiscal Implications of Adaptation to Climate Change

Author: Mr. Zamid Aligishiev

Publisher: International Monetary Fund

Published: 2022-03-23

Total Pages: 46

ISBN-13:

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Adaptation to climate change is an integral part of sustainable development and a necessity for advanced and developing economies alike. How can adaptation be planned for and mainstreamed into fiscal policy? Setting up inclusive coordination mechanisms and strengthening legal foundations to incorporate climate change can be a prerequisite. This Note identifies four building blocks: 1. Taking stock of present and future climate risks, identifying knowledge and capacity gaps, and establishing guidance for next steps. 2. Developing adaptation solutions. This block can be guided by extending the IMF three-pillar disaster resilience strategy to address changes in both extreme and average weather and would cover the prevention of risks, the alleviation of residual risks, and macro-fiscal resilience. 3. Mainstreaming these solutions into government operations. This requires strengthening public financial management institutions by factoring climate risks and adaptation plans into budgets and macro-frameworks, and in the management of public investment, assets and liabilities. 4. Providing for transparent evaluations to inform future plans. This involves continually monitoring progress and regularly updating adaptation plans.

Business and Management Annual Volume 2023
Business and Management Annual Volume 2023

Author:

Publisher: BoD – Books on Demand

Published: 2023-12-20

Total Pages: 222

ISBN-13: 0850145228

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Dive into a compelling exploration of contemporary business and management paradigms with the Annual Volume 2023. This edition offers a mosaic of perspectives on organizational commitment, innovation’s role in competitive advantage, fiscal sustainability in dynamic economies, and the strategic implications of taxation and digital transformation. Delve into nuanced analyses covering diverse sectors, from agribusiness to rail technology, illuminating the intricate relationships between learning, innovation, and strategic agility. Uncover the evolving landscapes of energy, taxation, and economic policies, steering discussions on workforce management, rural tourism, and game theory’s application to business strategy. Engaging and thought-provoking, this volume presents diverse lenses into the dynamic intersections of business, economics, and strategic management.

Thailand
Thailand

Author: International Monetary Fund. Asia and Pacific Dept

Publisher: International Monetary Fund

Published: 2022-09-16

Total Pages: 44

ISBN-13:

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Selected Issues

Almost Anywhere
Almost Anywhere

Author: Krista Schlyer

Publisher: Simon and Schuster

Published: 2015-10-06

Total Pages: 372

ISBN-13: 1510700560

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What do you do when your world ends? At twenty-eight years old, Krista Schlyer sold almost everything she owned and packed the rest of it in a station wagon bound for the American wild. Her two best friends joined her—one a grumpy, grieving introvert, the other a feisty dog—and together they sought out every national park, historic site, forest, and wilderness they could get to before their money ran out or their minds gave in. The journey began as a desperate escape from urban isolation, heartbreak, and despair, but became an adventure beyond imagining. Chronicling their colorful escapade, Almost Anywhere explores the courage, cowardice, and heroics that live in all of us, as well as the life of nature and the nature of life. This eloquent and accessible memoir is at once an immersion in the pain of losing someone particularly close and especially young and a healing journey of a broken life given over to the whimsy and humor of living on the road.

Economic Security: Neglected Dimension of National Security ?
Economic Security: Neglected Dimension of National Security ?

Author: National Defense University (U S )

Publisher: Government Printing Office

Published: 2011-12-27

Total Pages: 132

ISBN-13:

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On August 24-25, 2010, the National Defense University held a conference titled “Economic Security: Neglected Dimension of National Security?” to explore the economic element of national power. This special collection of selected papers from the conference represents the view of several keynote speakers and participants in six panel discussions. It explores the complexity surrounding this subject and examines the major elements that, interacting as a system, define the economic component of national security.

Latin American Economic Outlook 2021 Working Together for a Better Recovery
Latin American Economic Outlook 2021 Working Together for a Better Recovery

Author: OECD

Publisher: OECD Publishing

Published: 2021-12-02

Total Pages: 274

ISBN-13: 9264682317

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The Latin American Economic Outlook 2021: Working Together for a Better Recovery aims to analyse and provide policy recommendations for a strong, inclusive and environmentally sustainable recovery in the region. The report explores policy actions to improve social protection mechanisms and increase social inclusion, foster regional integration and strengthen industrial strategies, and rethink the social contract to restore trust and empower citizens at all stages of the policy‐making process.