Request For Waiver Of Nonobservance Research Articles

Pakistan

"Volume 2022 (2022): Issue 288 (Sep 2022): Pakistan: Seventh, and Eighth Reviews of the Extended Arrangement under the Extended Fund Facility, Requests for Waivers of Nonobservance of Performance Criteria, and for Extension, Augmentation, and Rephasing of Access-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Pakistan" published on 01 Sep 2022 by International Monetary Fund.

Democratic Republic of São Tomé

"Volume 2022 (2022): Issue 306 (Sep 2022): Democratic Republic of São Tomé: Fifth Review Under the Extended Credit Facility Arrangement, Request for Waiver of Nonobservance of Performance Criterion and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of São Tomé" published on 20 Sep 2022 by International Monetary Fund.

The Gambia: Article IV Consultation, Third Review under the Extended Credit Facility Arrangement, Request for Waivers of Nonobservance of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for The Gambia

"Volume 2021 (2021): Issue 265 (Dec 2021): The Gambia: Article IV Consultation, Third Review under the Extended Credit Facility Arrangement, Request for Waivers of Nonobservance of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for The Gambia" published on 10 Dec 2021 by International Monetary Fund.

Liberia: Third Review under the Extended Credit Facility Arrangement and Request for Waivers of Nonobservance of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Liberia

"Volume 2021 (2021): Issue 264 (Dec 2021): Liberia: Third Review under the Extended Credit Facility Arrangement and Request for Waivers of Nonobservance of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Liberia" published on 10 Dec 2021 by International Monetary Fund.

Republic of Armenia: 2021 Article IV Consultation, Fourth and Fifth Reviews Under the Stand-By Arrangement, and Request for Waiver of Nonobservance of Performance Criterion and Monetary Policy Consultation Clause-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Armenia

"Volume 2021 (2021): Issue 273 (Dec 2021): Republic of Armenia: 2021 Article IV Consultation, Fourth and Fifth Reviews Under the Stand-By Arrangement, and Request for Waiver of Nonobservance of Performance Criterion and Monetary Policy Consultation Clause-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Armenia" published on 21 Dec 2021 by International Monetary Fund.

Barbados: Fifth Review Under the Extended Arrangement, Request for Waiver of Nonobservance of Performance Criterion, and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Barbados

Barbados has made good progress in implementing its Economic Recovery and Transformation (BERT) plan to restore fiscal and debt sustainability, rebuild reserves, and increase growth. International reserves have increased to US$1.3 billion at end-March 2021, supported by IFI loans. This, and a successful 2018-19 public debt restructuring, have helped rebuild confidence in the country’s macroeconomic framework. However, a virtual standstill in the tourism sector during the pandemic took a significant toll in 2020, with the economy contracting by 18 percent. While Barbados was successful in containing the outbreak during 2020, a surge in COVID-19 cases in early 2021 resulted in the country’s second national lockdown in February. Economic growth is projected at 3 percent for 2021 premised on a modest recovery of tourism in the second half of the year, but the outlook remains highly uncertain, and risks are elevated, also in light of the possible impact of recent volcanic activity in neighboring Saint Vincent.

Mali

"Volume 2021 (2021): Issue 067 (Mar 2021): Mali: Second and Third Reviews Under the Extended Credit Facility Arrangement. Requests for Waivers of Nonobservance of Performance Criteria and Modification of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Mali" published on 30 Mar 2021 by International Monetary Fund.

Sri Lanka: Fifth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for Waivers of Nonobservance of Performance Criteria, Extension of the Arrangement and Rephasing of Purchases-Press Release; Staff Report and Statement by the Executive Director for Sri Lanka

This paper discusses Sri Lanka’s Fifth Review under the Extended Arrangement under the Extended Fund Facility, Request for Waivers of Nonobservance of Performance Criteria, extension of the arrangement, and rephasing of purchases. The Central Bank of Sri Lanka maintained a tight monetary policy stance, intervening in the foreign exchange market and allowing for greater exchange rate flexibility in response to rising pressures. The Sri Lankan economy remains vulnerable to shocks, given high public debt, large refinancing needs, and low external buffers. Although domestic uncertainty remains elevated, the authorities are committed to strengthen the resilience of the economy through a strong policy mix, with prudent monetary policy, greater exchange rate flexibility, and revenue-based fiscal consolidation. Continued implementation of structural reforms is essential to support strong and inclusive growth. Efforts should focus on liberalizing trade, improving the business environment and promoting investment, strengthening governance, encouraging female and youth labor force participation, enhancing social protection, and improving crisis preparedness to natural disasters.

Ghana: Seventh and Eighth Reviews Under the Extended Credit Facility Arrangement and Request for Waivers of Nonobservance of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Ghana

This paper discusses Ghana’s Seventh and Eighth Reviews Under the Extended Credit Facility Arrangement and Request for a Waiver of Nonobservance of Performance Criterion (PC). Ghana’s macroeconomic performance has significantly improved in the last two years under the ECF-supported program. The elevated debt burden and fiscal risks from the financial and energy sectors limit policy space. The large loss of foreign exchange reserves in 2018 is a pointed reminder of Ghana’s exposure to shifting investors’ sentiment and external shocks, amplified by the government’s still elevated financing needs. Ghana’s legacy of political budget cycles will test the authorities’ commitment to macroeconomic discipline and reform in 2020—a challenge that the authorities intend to face head on. Corrective measures have been put in place to address the PCs missed at end-June (three) and end-December (two) and the continuous PC on credit to the government by the Bank of Ghana.

Benin: Third Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Benin

Benin: Third Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Benin

Central African Republic: Fourth Review Under the Extended Credit Facility Arrangement, Requests for Waiver of Nonobservance of Performance Criterion, Modification of Performance Criteria, Augmentation of Access, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Central African Republic

Central African Republic: Fourth Review Under the Extended Credit Facility Arrangement, Requests for Waiver of Nonobservance of Performance Criterion, Modification of Performance Criteria, Augmentation of Access, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Central African Republic

Mali: Tenth Review under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Mali

Mali: Tenth Review under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Mali

Chad: Second Review of the Program Under the Extended Credit Facility, Request for Waivers of Nonobservance of Performance Criteria, And Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Chad

Chad: Second Review of the Program Under the Extended Credit Facility, Request for Waivers of Nonobservance of Performance Criteria, And Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Chad

Cameroon: First Review Under the Extended Credit Facility Arrangement Requests for Waiver of Nonobservance of a Performance Criterion and Modification of Performance Criteria-Press Release; Staff Report; Supplementary Information; and Statement by the Executive Director for Cameroon

Cameroon: First Review Under the Extended Credit Facility Arrangement Requests for Waiver of Nonobservance of a Performance Criterion and Modification of Performance Criteria-Press Release; Staff Report; Supplementary Information; and Statement by the Executive Director for Cameroon

Tunisia: 2017 Article IV Consultation and Second Review Under the Extended Fund Facility, and Request for Waivers of Nonobservance of Performance Criteria, and Rephasing of Access

This 2017 Article IV Consultation highlights that Tunisia’s economic growth almost doubled to 1.9 percent in 2017, as confidence strengthened on the back of improved security and the unity government’s early progress with policy and reform implementation. Investment and exports remained sluggish, however. Growth is expected to reach 2.4 percent in 2018, helped by a good agricultural season and a pickup in manufacturing and tourism. The unemployment rate remains high at 15 percent. Trade data for early 2018 show an improvement in export performance, while import growth is slowing. This favorable trend is expected to continue throughout the remainder of the year, supported by a more favorable real exchange rate.

Tunisia: First Review Under the Extended Fund Facility, Request for Waivers of NonObservance of Performance Criteria and Rephasing of Access-Press Release; Staff Report;and Statement by the Executive Director for Tunisia

Tunisia: First Review Under the Extended Fund Facility, Request for Waivers of NonObservance of Performance Criteria and Rephasing of Access-Press Release; Staff Report;and Statement by the Executive Director for Tunisia

Central African Republic: Third Review under the Extended Credit Facility Arrangement, Requests for Waiver of Nonobservance of Performance Criterion, Modification of Performance Criteria, Augmentation of Access, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Central African Republic

Central African Republic: Third Review under the Extended Credit Facility Arrangement, Requests for Waiver of Nonobservance of Performance Criterion, Modification of Performance Criteria, Augmentation of Access, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Central African Republic

Central African Republic: First Review of the Arrangement Under the Extended Credit Facility, Financing Assurances Review and Request for Waiver of Nonobservance of Performance Criterion

Central African Republic: First Review of the Arrangement Under the Extended Credit Facility, Financing Assurances Review and Request for Waiver of Nonobservance of Performance Criterion

Republic of Madagascar: 2017 Article IV Consultation, First Review Under the Extended Credit Facility Arrangement, and Request for Waiver of Nonobservance of Performance Criterion, Modification of Performance Criterion and Augmentation of Access-Press Release; Staff Report; Informational Annex, Debt Sustainability Analysis, and Statement by the Executive Director for Republic of Madagascar

This 2017 Article IV Consultation highlights that economic developments in Madagascar were encouraging in 2016. Driven by public investment, increasing textile exports, and accelerating activity in agroindustry, economic growth reached 4.2 percent in 2016—the highest level since 2008. Reforms continued in revenue administration, and fiscal revenue exceeded targets. Inflation was contained at 7.0 percent at end-2016. The external position strengthened significantly, benefitting from a positive shock to vanilla export prices and strong growth in manufacturing exports. In spite of current challenges, the medium term outlook is favorable. Growth is projected to accelerate, driven by the investment scaling up, tourism, garments and other light manufacturing, mining, and productivity gains in agriculture.

Rwanda: First Review of the Standby Credit Facility Arrangement and Sixth Review Under the Policy Support Instrument, Request for Waiver and Modification of Performance and Assessment Criteria-Press Release; and Staff Report

This paper discusses Rwanda’s First Review of the Standby Credit Facility (SCF) Arrangement and Sixth Review Under the Policy Support Instrument (PSI), Request for Waiver and Modification of Performance and Assessment Criteria. Performance under the PSI and SCF-supported programs remains on track. Nearly all quantitative program targets and structural benchmarks were respected: two quantitative targets were missed by minor amounts, and one benchmark was delayed. The IMF staff recommends approval of the first review of the SCF arrangement and the sixth review of the program supported by the PCI, as well as the request for waiver of nonobservance of the continuous external arrears criterion, and modification of forthcoming program criteria.