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New Zealand: 2022 Article IV Consultation-Press Release; and Staff Report

New Zealand: 2022 Article IV Consultation-Press Release; and Staff Report
Author: International Monetary
Publisher: International Monetary Fund
Total Pages: 62
Release: 2022-05-13
Genre: Business & Economics
ISBN:

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New Zealand’s management of the pandemic, including health policy and macroeconomic policy support, has been effective in ensuring economic recovery. Output has already recovered to above potential, the labor market is tight, and inflation has risen to above the Reserve Bank of New Zealand’s (RBNZ) target range.


Australia

Australia
Author: International Monetary Fund.
Publisher:
Total Pages: 0
Release: 2023
Genre:
ISBN:

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United Kingdom

United Kingdom
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
Total Pages: 68
Release: 2016-06-16
Genre: Business & Economics
ISBN: 148439562X

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This paper discusses key issues related to the economy of the United Kingdom. The U.K. economy has performed well in recent years, but it faces important challenges and risks. In the near term, the largest risks and uncertainties relate to the upcoming European Union (EU) referendum. In the event the United Kingdom stays in the EU, steady growth is expected to continue over the next few years. Macroeconomic policies in the baseline should focus on promoting continued steady growth while reducing vulnerabilities. In particular, monetary policy should remain on hold until inflationary pressures are clearer and to help offset headwinds from fiscal consolidation.


Tax Law Design and Drafting, Volume 1

Tax Law Design and Drafting, Volume 1
Author: Mr.Victor Thuronyi
Publisher: International Monetary Fund
Total Pages: 534
Release: 1996-08-23
Genre: Business & Economics
ISBN: 9781557755872

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Edited by Victor Thuronyi, this book offers an introduction to a broad range of issues in comparative tax law and is based on comparative discussion of the tax laws of developed countries. It presents practical models and guidelines for drafting tax legislation that can be used by officials of developing and transition countries. Volume I covers general issues, some special topics, and major taxes other than income tax.


Diversion of Tourism Flows in the Asia & Pacific Region: Lessons for COVID-19 Recovery

Diversion of Tourism Flows in the Asia & Pacific Region: Lessons for COVID-19 Recovery
Author: Vybhavi Balasundharam
Publisher: International Monetary Fund
Total Pages: 23
Release: 2021-08-20
Genre: Business & Economics
ISBN: 1513593447

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The COVID-19 pandemic prompted a collapse in international tourism, severely impacting the tourism-dependent economies in the Asia & Pacific region. Once countries start reopening, tourism diversion effects could accelerate the recovery in countries that establish themselves as more attractive travel destinations than competitors. We investigate the impact of previous shocks in tourism competitor countries on visitor inflows, with a particular focus on tourism-dependent Pacific Island Countries (PICs). We find that PICs were generally resilient to external shocks and benefitted from diversion effects for certain types of shocks. For example, the share of departures from Australia to PICs increased by 12 percent during the SARS outbreak. We then derive policy implications for the post-COVID-19 revival of inbound tourism to PICs and lessons for the future.


New Zealand: 2021 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for New Zealand

New Zealand: 2021 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for New Zealand
Author: International Monetary
Publisher: International Monetary Fund
Total Pages: 74
Release: 2021-05-05
Genre: Business & Economics
ISBN: 1513572946

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New Zealand’s sound management of the COVID-19 crisis has been effective in bringing infection rates quickly under control. Decisive fiscal and monetary policy responses have been instrumental in cushioning the economic impact. Although economic activity was hit hard initially, it has recovered faster than expected. That said, the recovery has been uneven, with some sectors and workers disproportionately affected.


Israel: 2022 Article IV Consultation-Press Release and Staff Report

Israel: 2022 Article IV Consultation-Press Release and Staff Report
Author: International Monetary
Publisher: International Monetary Fund
Total Pages: 82
Release: 2022-03-21
Genre: Business & Economics
ISBN:

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The Israeli economy has weathered the COVID-19 crisis exceptionally well, but risks are high. With substantial fiscal and monetary support, real GDP growth reached 8.1 percent in 2021, driven by consumption and high-tech exports. The rapid vaccination campaign boosted confidence. The outlook is positive but still subject to high uncertainty.


Vanuatu: 2021 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Vanuatu

Vanuatu: 2021 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Vanuatu
Author: International Monetary
Publisher: International Monetary Fund
Total Pages: 95
Release: 2021-09-14
Genre: Business & Economics
ISBN: 1513597175

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Border closures and other pandemic containment measures have kept Vanuatu free from COVID-19. However, they have dealt a heavy blow to economic activity as tourism has come to a virtual halt. On top of the pandemic, Tropical Cyclone Harold and a volcanic eruption in Tanna Island caused extensive economic damage in 2020. In the context of a continued loss of correspondent banking relationships (CBRs) in the Pacific, Vanuatu also lost a key CBR at end-June 2021. Air Vanuatu, one of the state-owned enterprises (SOEs), is in the process of being restructured.


Kiribati: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Kiribati

Kiribati: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Kiribati
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
Total Pages: 86
Release: 2024-05-10
Genre: Business & Economics
ISBN:

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Kiribati’s economy recovered strongly from the pandemic on the back of supportive fiscal measures including subsidies, grants, and (most recently) an increase in civil service wages. Inflation, which has decelerated from its recent peak, is projected to pick up again mainly due to increased domestic demand. Kiribati is among the most vulnerable countries to the effects of climate change. Infrastructure gaps compound already challenging constraints imposed by distance and dispersion, limiting the development of the private sector in the state-dominated economy, and cementing its reliance on imports, especially for essential commodities such as food and fuel.


Tuvalu: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Tuvalu

Tuvalu: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Tuvalu
Author: International Monetary
Publisher: International Monetary Fund
Total Pages: 95
Release: 2021-08-04
Genre: Business & Economics
ISBN: 1513591479

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Swift implementation of containment measures, limited spillovers from tourism, and COVID-related fiscal spending financed by buoyant fishing revenues and donor grants have allowed Tuvalu—a fragile Pacific micro-state—avoid a recession in 2020. The economy is expected to expand by 2.5 percent in 2021, supported by fiscal expenditures and resumption of infrastructure projects. But significant challenges remain: Tuvalu is vulnerable to the effects of climate change, its economy is dominated by the public sector, and its revenue base is narrow. Uncertainty around donor commitments complicates fiscal planning.