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September 4 , 2023
Country Report No. 2023/320
September 1 , 2023
As the fight to bring inflation back to target continues, we expect global interest rates to remain high for quite some time. Furthermore, there are reasons to think that rates may never return to the era of ‘low for long’. This possibility is reflected in U.S. 10-year treasury bond yields, which have surged to over four percent in nominal terms, the highest level since the global financial crisis
September 1 , 2023
Working Paper No. 2023/179
September 1 , 2023
Working Paper No. 2023/180
September 1 , 2023
Working Paper No. 2023/178
September 1 , 2023
Charting a Course Through Rough Seas: How Emerging Markets Can Navigate Tougher External Conditions - Keynote Address by First Deputy Managing Director Gita Gopinath at the South Africa Reserve Bank Biennial Conference
September 1 , 2023
High Level Summary Technical Assistance Report No. 2023/011
August 31, 2023
Country Report No. 2023/319
August 31, 2023
Country Report No. 2023/317
August 31, 2023
Country Report No. 2023/318
August 31, 2023
Jamaica has continued to make progress in enhancing fiscal, financial, AML/CFT policy frameworks, and data adequacy, and is implementing the ambitious climate policy agenda to support economic growth. These policies are supported by the PLL and RSF arrangements, which were approved on March 1, 2023, in an amount equivalent to SDR 727.51 million (about US$968 million) or 190 percent of quota, and SDR 574.35 million (about US$764 million) or 150 percent of quota, respectively (see Press Release No. 23/57).
August 31, 2023
Following a strong recovery of almost 12 percent growth in 2021, Botswana’s economy grew by 5.8 percent in 2022, significantly above the long-run average of 4 percent. The ongoing recovery from the pandemic primarily reflects elevated mining production. Inflation has declined sharply since August of 2022. After declining in 2022, FX reserves have stabilized and remained at adequate levels at end-2022. The unemployment rate remains elevated at 25 percent.
August 30, 2023
An International Monetary Fund (IMF) team led by Ms. Anastasia Guscina conducted virtual and in-person mission with the Surinamese authorities during August 7-22 to discuss policies to complete the third review of the 36-month Extended Fund Facility approved by the IMF Executive Board on December 22, 2021.
August 30, 2023
Country Report No. 2023/315
August 30, 2023
The economy has grown by 4.2 percent in 2022 and should recover only moderately to 4.5 percent in 2023. Growth has been negatively affected by low cashew exports and adverse external shocks which are weighing on Guinea-Bissau’s socio-economic environment. The surge in food and oil prices adds pressures on annual inflation which is expected to remain high at 7.0 percent. Budget execution is facing pressures. The overall fiscal deficit remained at 5.9 percent of GDP in 2022. Based on provisional data, the public debt increased to 80.3 percent of GDP in 2022, because of higher-than-projected overall fiscal deficit, new government guarantees mainly to the public utility company and the recognition of cross-arrears owed to suppliers with non-performing loans at the undercapitalized bank. Revenue mobilization and expenditure containment remain pivotal to prevent risks to debt sustainability and access to external financing. In discussions with the mission team, the new government resulting from the winning coalition of the June 4, 2023, legislative election expressed its commitment to implementing the program reform agenda.
August 30, 2023
Haiti faces a challenging macroeconomic outlook amid a dire humanitarian crisis. The country has been hit hard by economic spillovers from Russia’s invasion of Ukraine, including food price inflation that has triggered a hunger crisis. This global shock has been compounded by a highly volatile security situation in Haiti, which has heightened the economy’s fragility.
August 30, 2023
Staff Climate Note No 2023/001
August 29, 2023
Singapore’s post-pandemic recovery is nearly complete. Strong economic fundamentals and the authorities’ decisive policy responses, including an unprecedented policy stimulus, supported a rapid recovery from the COVID-19 shock. Following a sharp rebound of 8.9 percent in 2021, real GDP growth moderated to 3.6 percent in 2022, and weakened further to 0.4 percent (year on year) in 2023Q1, reflecting weaker global demand. Despite the solid post-pandemic recovery, consumer-facing services (except the retail sector) and construction, the hardest hit sectors during pandemic, remained below pre-pandemic levels. Inflation remained elevated and broad-based at about 5.7 percent in April 2023, despite recent signs of moderation. Inflation expectations, however, remain well-anchored.
August 29, 2023
August 29, 2023
Policy Paper No. 2023/035
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