IMFEconomy
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🇺🇸IMF execs float raising crypto mining electricity prices by 85%
A tax on the energy used by crypto miners could cut emissions by 100 million tons a year, equal to 🇧🇪Belgium’s emissions, say two IMF executives.
#IMF #IMFEconomy #Write2Earn! #LowestCPI2021 #MarketDownturn
A tax on the energy used by crypto miners could cut emissions by 100 million tons a year, equal to 🇧🇪Belgium’s emissions, say two IMF executives.
#IMF #IMFEconomy #Write2Earn! #LowestCPI2021 #MarketDownturn
IMF Approves Staff-Level Agreement with Armenia on Fourth Review of Stand-By Arrangement.
Washington, DC, October 21, 2024 – The International Monetary Fund (IMF) and the Armenian authorities have reached a staff-level agreement on the fourth review under the 3-year Stand-By Arrangement (SBA). This agreement is subject to approval by the IMF's Executive Board, which is scheduled for mid-December.
Key Points:
Strong Economic Growth: Armenia's economy continues to grow strongly, with GDP growth projected to reach 6 percent in 2024.Policy Priorities: The government's policy agenda focuses on enhancing economic resilience, mobilizing tax revenues, strengthening institutional frameworks, and boosting labor productivity.Positive Economic Outlook: The IMF expects Armenia's economic growth to remain robust in the coming years, with risks primarily stemming from geopolitical tensions and global economic developments.Fiscal Sustainability: The government is committed to maintaining fiscal sustainability through careful expenditure prioritization and tax policy reforms.Monetary Stability: The Central Bank of Armenia will continue to gradually reduce the policy rate to steer inflation towards its target.Structural Reforms: The government's structural reform agenda aims to foster inclusive growth, diversify exports, and improve the business environment.
The IMF's approval of the staff-level agreement would enable Armenia to access about US$24.5 million (SDR 18.4 million), bringing total access to about US$122.7 million (SDR 92 million) since the SBA's inception.
#IMFEconomy
#Armenia
#StandByArrangement
#(SBA)
#Economicgrowth
#Financialstability
#Economicpolicy
#Internationalfinance
#IMFstaff-levelagreement
#Armeniaeconomicreforms#Fiscalsustainability#Monetarypolicy#Structuralreforms#Developmentfinance#Emergingmarkets
Key Points:
Strong Economic Growth: Armenia's economy continues to grow strongly, with GDP growth projected to reach 6 percent in 2024.Policy Priorities: The government's policy agenda focuses on enhancing economic resilience, mobilizing tax revenues, strengthening institutional frameworks, and boosting labor productivity.Positive Economic Outlook: The IMF expects Armenia's economic growth to remain robust in the coming years, with risks primarily stemming from geopolitical tensions and global economic developments.Fiscal Sustainability: The government is committed to maintaining fiscal sustainability through careful expenditure prioritization and tax policy reforms.Monetary Stability: The Central Bank of Armenia will continue to gradually reduce the policy rate to steer inflation towards its target.Structural Reforms: The government's structural reform agenda aims to foster inclusive growth, diversify exports, and improve the business environment.
The IMF's approval of the staff-level agreement would enable Armenia to access about US$24.5 million (SDR 18.4 million), bringing total access to about US$122.7 million (SDR 92 million) since the SBA's inception.
#IMFEconomy
#Armenia
#StandByArrangement
#(SBA)
#Economicgrowth
#Financialstability
#Economicpolicy
#Internationalfinance
#IMFstaff-levelagreement
#Armeniaeconomicreforms#Fiscalsustainability#Monetarypolicy#Structuralreforms#Developmentfinance#Emergingmarkets
Global Sovereign Debt Roundtable Pushes for Faster Debt Restructuring
October 23, 2024 | Washington, D.C. The Global Sovereign Debt Roundtable (GSDR) convened today in Washington to address the growing challenges of global debt and to advance discussions on debt restructuring. Co-chaired by IMF Managing Director Kristalina Georgieva, World Bank President Ajay Banga, and Brazilian Finance Minister Fernando Haddad, the roundtable emphasized speeding up restructuring processes and fostering cooperation between creditors and debtors.
The third GSDR Cochairs Report, released after the meeting, highlights progress made in recent months. Key achievements include debt agreements for Ghana in January and Zambia in March. While the timeline for restructuring has improved in some cases, delays persist. Ghana's process, for example, took eight months to reach its first IMF review, far longer than the 2-3 months typical in the past.
The discussions underscored the importance of transparent coordination between creditors to ensure fair treatment across both private and official lenders. Enhanced transparency in assessing comparability of treatment (CoT) was a focal point, aiming to streamline parallel negotiations.
Climate-related debt solutions were also discussed, though the meeting concluded that initiatives like debt-for-climate swaps are not yet viable for large-scale use. As global debt rises, the GSDR’s efforts remain critical in addressing these vulnerabilities and exploring new solutions for debt sustainability.
The roundtable continues to play a key role in advancing cooperation among debt stakeholders, offering hope for countries facing overwhelming debt burdens.
#Ghana #IMFEconomy #IMF #Zambia #economics
The third GSDR Cochairs Report, released after the meeting, highlights progress made in recent months. Key achievements include debt agreements for Ghana in January and Zambia in March. While the timeline for restructuring has improved in some cases, delays persist. Ghana's process, for example, took eight months to reach its first IMF review, far longer than the 2-3 months typical in the past.
The discussions underscored the importance of transparent coordination between creditors to ensure fair treatment across both private and official lenders. Enhanced transparency in assessing comparability of treatment (CoT) was a focal point, aiming to streamline parallel negotiations.
Climate-related debt solutions were also discussed, though the meeting concluded that initiatives like debt-for-climate swaps are not yet viable for large-scale use. As global debt rises, the GSDR’s efforts remain critical in addressing these vulnerabilities and exploring new solutions for debt sustainability.
The roundtable continues to play a key role in advancing cooperation among debt stakeholders, offering hope for countries facing overwhelming debt burdens.
#Ghana #IMFEconomy #IMF #Zambia #economics