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Artificial Intelligence, Dollar, Growth, and Debt Drove 2024 Blog Readership
December 30, 2024
Complex global economic challenges, and the careful policy responses that the world needs to foster sustainable growth and financial stability, were the most popular
Togo: Public Investment Management Assessment - PIMA and Climate PIMA
December 30, 2024
An IMF team conducted a Climate Public Investment Management Assessment (C-PIMA) in Togo. The analysis identified emerging good practices for an effective management of public investment from a climate perspective, but also identified weaknesses throughout the public investment cycle that affect efficiency and effectiveness of infrastructure delivery in the face of climate change related challenges. The mission team identified seven high priority recommendations to improve public investment management from a climate change perspective.
Honduras: Public Investment Management Assessment – PIMA and Climate PIMA
December 27, 2024
An IMF team conducted a Public Investment Management Assessment including the module on climate change in Honduras. It identified strengths related to the recent reforms in the National Public Investment System of Honduras (SNIPH), but also several weaknesses along the investment cycle that affect its efficiency, and its capacity to respond to climate change related challenges. The mission team identified six high-priority recommendations to improve public investment management, including from a climate change perspective.
Panama: Fiscal Transparency Evaluation
December 27, 2024
An IMF team found that Panama has a cash-based system of budgeting and accounting that generates good information on many aspects of public finances. There are, however, many weaknesses in the system which diverge from the sound practices included in the Fund's Fiscal Transparency Code. Panama's ratings are lower than those of regional comparators, especially in the area of fiscal risks. The team developed high-priority recommendations to improve Panama's fiscal transparency principles.
Mongolia: Ministry of Finance Macroeconomic Framework Technical Assistance: Scoping Mission Report
December 27, 2024
Further to Mongolia's Ministry of Finance (MOF) request, an assessment mission was carried out from May 24 to June 2, 2023. The mission reviewed the needs, capacity and constraints for the development of institutional macroeconomic forecasting capacity at the Financial and Fiscal Research Department (FFRD). Notably, despite FFRD's ambitious goals in fiscal policymaking, a comprehensive macroeconomic framework for analysis, forecasting, and assessing fiscal policy's macroeconomic impact is not yet in place. The action plan and logical framework is centered around capacity development and customization of the Comprehensive Adaptive Expectations Model (CAEM) to the Mongolia economy. This note summarizes the main findings and action plan agreed on for the project.
Barbados: Public Investment Management Assessment - PIMA and Climate PIMA
December 27, 2024
An IMF team conducted a Public Investment Management Assessment (PIMA) and Climate PIMA in Barbados. The country is recognized as a global leader on climate issues and has various initiatives underway to strengthen climate resilience. The climate agenda is not yet adequately integrated in PIM practices, specifically in project appraisal, selection, maintenance and procurement.
Guatemala: Assessing Public Investment Management – PIMA and Climate Change PIMA
December 27, 2024
In order to improve the efficiency of their capital investment and improve the access of the population to high-quality infrastructure, the Finance Ministry and the Planning general secretariate SEGEPLAN requested an IMF mission to apply: (i) the public investment management assessment (PIMA) methodology, developed by the Fiscal Affairs Department (FAD), to identify strengths and weaknesses in Guatemala’s public investment management and (ii) the Climate PIMA (C-PIMA) module to ensure climate change mitigation and adaptation are appropriately addressed in the public investment cycle. The mission proposed an action plan to improve public investment management.
IMF Reaches Staff Level Agreement on the Fourth Review of the Extended Fund Facility with Egypt
December 24, 2024
Paraguay: Public Investment Management Assessment – PIMA and Climate PIMA
December 24, 2024
An IMF team conducted a Public Investment Management Assessment including the module on Climate Change in Paraguay. The team identified strengths related to the recent reforms in the National Public Investment System (SNIP) and several weaknesses along the investment cycle that affect its efficiency. It identified ten high-priority recommendations that could improve PIM processes.
Productivity Shocks to the Pharmaceutical Sector and the Danish Economy: Denmark
December 24, 2024
The pharmaceutical industry in Denmark has grown rapidly in recent years. This paper discusses the macroeconomic impact of the pharmaceutical sector. The analysis focuses on Novo Nordisk, the leading pharmaceutical company in Denmark, and its productivity impact on the rest of the economy. Empirical evidence suggests only weak correlations between productivity shocks at Novo Nordisk and overall economic growth, as well as between Novo Nordisk’s productivity and that of other firms. However, we find evidence of a significant within-industry spillover effect in the pharmaceutical sector.