Burundi: 2014 Article IV Consultation: Fifth Review under the Three-Year Arrangement under the Extended Credit Facility: and Request for Modification of Performance Criteria: Staff Report: Press Release: and Statement by the Executive Director for Burundi = Burundi, 2014 article IV consultation
Saved in:
| Format: | Electronic eBook |
|---|---|
| Language: | English |
| Published: |
Washington, D.C.
International Monetary Fund
2014
|
| Series: | IMF country report
no. No. 14/293 |
| Subjects: | |
| Online Access: | FLA01 |
| Item Description: | "September 2014.". - "July 23, 2014"--Page 2 of pdf Online resource; title from pdf title page (IMF Web site, viewed September 29, 2014) |
| Physical Description: | 1 online resource (92 pages) color illustrations |
| ISBN: | 9781498357043 1498357040 |
Staff View
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| 505 | 8 | |a KEY ISSUES Context: Since the last Article IV Consultation in 2012, notable progress has been achieved to enhance macroeconomic stability, underpinned by the Fund-supported program. However, continued progress could be tested as the country faces a more challenging environment, due to increasing social and political tensions and frequent strikes in the run-up to the 2015 elections. Moreover, recent political developments reinforce uncertainties surrounding external budget support. Program: The Executive Board approved the three-year arrangement under the Extended Credit Facility (ECF) on January 27, 2012, with a total access of SDR 30 million. The first, second, third, and fourth reviews were completed on July 27, 2012, February 14, 2013, September 6, 2013, and February 28, 2014, respectively. | |
| 505 | 8 | |a For the fifth review, all end-March performance criteria were observed, but fiscal revenues underperformed in the first quarter of 2014 requiring corrective fiscal measures (about 1 percent of GDP on an annual basis). Satisfactory progress has been made on structural reforms, albeit with some delays. Outlook and risks: The medium-term macroeconomic outlook is challenging. The principal near-term risk is an intensification of election-related uncertainty, economic disruptions and violence, which would affect investment and growth. Governance issues or delays in making measurable progress in public financial management (PFM) reforms, and heightening of political tensions could curtail donor support. Reintegrating repatriated refugees is likely to add to unemployment pressures, increase demand for public services, and exacerbate social conflict over access to land. | |
| 505 | 8 | |a Staff Views: The staff recommends the completion of the fifth review under the ECF arrangement, setting of revised performance criteria and indicative targets for September-December 2014, and disbursement of SDR 5 million. The authorities have consented to the publication of this report following the completion of the review | |
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| contents | KEY ISSUES Context: Since the last Article IV Consultation in 2012, notable progress has been achieved to enhance macroeconomic stability, underpinned by the Fund-supported program. However, continued progress could be tested as the country faces a more challenging environment, due to increasing social and political tensions and frequent strikes in the run-up to the 2015 elections. Moreover, recent political developments reinforce uncertainties surrounding external budget support. Program: The Executive Board approved the three-year arrangement under the Extended Credit Facility (ECF) on January 27, 2012, with a total access of SDR 30 million. The first, second, third, and fourth reviews were completed on July 27, 2012, February 14, 2013, September 6, 2013, and February 28, 2014, respectively. For the fifth review, all end-March performance criteria were observed, but fiscal revenues underperformed in the first quarter of 2014 requiring corrective fiscal measures (about 1 percent of GDP on an annual basis). Satisfactory progress has been made on structural reforms, albeit with some delays. Outlook and risks: The medium-term macroeconomic outlook is challenging. The principal near-term risk is an intensification of election-related uncertainty, economic disruptions and violence, which would affect investment and growth. Governance issues or delays in making measurable progress in public financial management (PFM) reforms, and heightening of political tensions could curtail donor support. Reintegrating repatriated refugees is likely to add to unemployment pressures, increase demand for public services, and exacerbate social conflict over access to land. Staff Views: The staff recommends the completion of the fifth review under the ECF arrangement, setting of revised performance criteria and indicative targets for September-December 2014, and disbursement of SDR 5 million. The authorities have consented to the publication of this report following the completion of the review |
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| spelling | Burundi 2014 Article IV Consultation: Fifth Review under the Three-Year Arrangement under the Extended Credit Facility: and Request for Modification of Performance Criteria: Staff Report: Press Release: and Statement by the Executive Director for Burundi = Burundi, 2014 article IV consultation Burundi, 2014 article IV consultation Washington, D.C. International Monetary Fund 2014 2014 1 online resource (92 pages) color illustrations txt rdacontent c rdamedia cr rdacarrier IMF country report no. No. 14/293 "September 2014.". - "July 23, 2014"--Page 2 of pdf Online resource; title from pdf title page (IMF Web site, viewed September 29, 2014) KEY ISSUES Context: Since the last Article IV Consultation in 2012, notable progress has been achieved to enhance macroeconomic stability, underpinned by the Fund-supported program. However, continued progress could be tested as the country faces a more challenging environment, due to increasing social and political tensions and frequent strikes in the run-up to the 2015 elections. Moreover, recent political developments reinforce uncertainties surrounding external budget support. Program: The Executive Board approved the three-year arrangement under the Extended Credit Facility (ECF) on January 27, 2012, with a total access of SDR 30 million. The first, second, third, and fourth reviews were completed on July 27, 2012, February 14, 2013, September 6, 2013, and February 28, 2014, respectively. For the fifth review, all end-March performance criteria were observed, but fiscal revenues underperformed in the first quarter of 2014 requiring corrective fiscal measures (about 1 percent of GDP on an annual basis). Satisfactory progress has been made on structural reforms, albeit with some delays. Outlook and risks: The medium-term macroeconomic outlook is challenging. The principal near-term risk is an intensification of election-related uncertainty, economic disruptions and violence, which would affect investment and growth. Governance issues or delays in making measurable progress in public financial management (PFM) reforms, and heightening of political tensions could curtail donor support. Reintegrating repatriated refugees is likely to add to unemployment pressures, increase demand for public services, and exacerbate social conflict over access to land. Staff Views: The staff recommends the completion of the fifth review under the ECF arrangement, setting of revised performance criteria and indicative targets for September-December 2014, and disbursement of SDR 5 million. The authorities have consented to the publication of this report following the completion of the review International Monetary Fund fast International Monetary Fund Burundi BUSINESS & ECONOMICS / Industries / General bisacsh Economic forecasting fast Economic history fast Economic indicators fast Economic policy fast Economic indicators Burundi Economic forecasting Burundi International Monetary Fund Sonstige oth Erscheint auch als Druck-Ausgabe International Monetary Fund Burundi : 2014 article IV consultation, fifth review under the three-year arrangement under the extended credit facility; and request for modification of performance criteria-staff report; press release; and statement by the Executive Director for Burundi Washington, District of Columbia : International Monetary Fund, 2014 92 pages IMF country report ; Number 14/293 9781498332774 |
| spellingShingle | Burundi 2014 Article IV Consultation: Fifth Review under the Three-Year Arrangement under the Extended Credit Facility: and Request for Modification of Performance Criteria: Staff Report: Press Release: and Statement by the Executive Director for Burundi = Burundi, 2014 article IV consultation KEY ISSUES Context: Since the last Article IV Consultation in 2012, notable progress has been achieved to enhance macroeconomic stability, underpinned by the Fund-supported program. However, continued progress could be tested as the country faces a more challenging environment, due to increasing social and political tensions and frequent strikes in the run-up to the 2015 elections. Moreover, recent political developments reinforce uncertainties surrounding external budget support. Program: The Executive Board approved the three-year arrangement under the Extended Credit Facility (ECF) on January 27, 2012, with a total access of SDR 30 million. The first, second, third, and fourth reviews were completed on July 27, 2012, February 14, 2013, September 6, 2013, and February 28, 2014, respectively. For the fifth review, all end-March performance criteria were observed, but fiscal revenues underperformed in the first quarter of 2014 requiring corrective fiscal measures (about 1 percent of GDP on an annual basis). Satisfactory progress has been made on structural reforms, albeit with some delays. Outlook and risks: The medium-term macroeconomic outlook is challenging. The principal near-term risk is an intensification of election-related uncertainty, economic disruptions and violence, which would affect investment and growth. Governance issues or delays in making measurable progress in public financial management (PFM) reforms, and heightening of political tensions could curtail donor support. Reintegrating repatriated refugees is likely to add to unemployment pressures, increase demand for public services, and exacerbate social conflict over access to land. Staff Views: The staff recommends the completion of the fifth review under the ECF arrangement, setting of revised performance criteria and indicative targets for September-December 2014, and disbursement of SDR 5 million. The authorities have consented to the publication of this report following the completion of the review International Monetary Fund fast International Monetary Fund Burundi BUSINESS & ECONOMICS / Industries / General bisacsh Economic forecasting fast Economic history fast Economic indicators fast Economic policy fast Economic indicators Burundi Economic forecasting Burundi |
| title | Burundi 2014 Article IV Consultation: Fifth Review under the Three-Year Arrangement under the Extended Credit Facility: and Request for Modification of Performance Criteria: Staff Report: Press Release: and Statement by the Executive Director for Burundi = Burundi, 2014 article IV consultation |
| title_alt | Burundi, 2014 article IV consultation |
| title_auth | Burundi 2014 Article IV Consultation: Fifth Review under the Three-Year Arrangement under the Extended Credit Facility: and Request for Modification of Performance Criteria: Staff Report: Press Release: and Statement by the Executive Director for Burundi = Burundi, 2014 article IV consultation |
| title_exact_search | Burundi 2014 Article IV Consultation: Fifth Review under the Three-Year Arrangement under the Extended Credit Facility: and Request for Modification of Performance Criteria: Staff Report: Press Release: and Statement by the Executive Director for Burundi = Burundi, 2014 article IV consultation |
| title_full | Burundi 2014 Article IV Consultation: Fifth Review under the Three-Year Arrangement under the Extended Credit Facility: and Request for Modification of Performance Criteria: Staff Report: Press Release: and Statement by the Executive Director for Burundi = Burundi, 2014 article IV consultation |
| title_fullStr | Burundi 2014 Article IV Consultation: Fifth Review under the Three-Year Arrangement under the Extended Credit Facility: and Request for Modification of Performance Criteria: Staff Report: Press Release: and Statement by the Executive Director for Burundi = Burundi, 2014 article IV consultation |
| title_full_unstemmed | Burundi 2014 Article IV Consultation: Fifth Review under the Three-Year Arrangement under the Extended Credit Facility: and Request for Modification of Performance Criteria: Staff Report: Press Release: and Statement by the Executive Director for Burundi = Burundi, 2014 article IV consultation |
| title_short | Burundi |
| title_sort | burundi 2014 article iv consultation fifth review under the three year arrangement under the extended credit facility and request for modification of performance criteria staff report press release and statement by the executive director for burundi burundi 2014 article iv consultation |
| title_sub | 2014 Article IV Consultation: Fifth Review under the Three-Year Arrangement under the Extended Credit Facility: and Request for Modification of Performance Criteria: Staff Report: Press Release: and Statement by the Executive Director for Burundi = Burundi, 2014 article IV consultation |
| topic | International Monetary Fund fast International Monetary Fund Burundi BUSINESS & ECONOMICS / Industries / General bisacsh Economic forecasting fast Economic history fast Economic indicators fast Economic policy fast Economic indicators Burundi Economic forecasting Burundi |
| topic_facet | International Monetary Fund International Monetary Fund Burundi BUSINESS & ECONOMICS / Industries / General Economic forecasting Economic history Economic indicators Economic policy Economic indicators Burundi Economic forecasting Burundi |
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