What is IMF Article 4?

What is IMF Article 4?

India: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India. Summary: The ongoing COVID-19 pandemic has created a prolonged health crisis. Two COVID-19 waves have resulted in a deep and broad-based economic downturn with the potential for a longer lasting impact.

How much does SA owe IMF?

South Africa’s R70 billion loan from the International Monetary Fund (IMF) was not subject to conditionalities that compromised its fiscal sovereignty. According to Finance Minister Tito Mboweni, government is obligated to provide broad spending reports to the IMF.

What does the International Monetary Fund predict the economic growth rate for South Africa to be in 2018?

The International Monetary Fund (IMF) has upwardly revised South Africa’s growth outlook from 4% to 5%. South Africa’s economic recovery particularly has been helped by the commodities boom.

What is Article VIII IMF?

Under Article VIII, Sections 2, 3 and 4, IMF members undertake not to impose restrictions on the making of payments and transfers for current international transactions, and not to engage in, or permit any of their fiscal agencies to engage in, any discriminatory currency arrangement or multiple currency practice.

What is the title of Article 4 of the Constitution?

Article Four of the United States Constitution outlines the relationship between the various states, as well as the relationship between each state and the United States federal government. It also empowers Congress to admit new states and administer the territories and other federal lands.

Does IMF lend money?

Unlike development banks, the IMF does not lend for specific projects. Instead, IMF financing is meant to help member countries tackle balance of payments problems, stabilize their economies, and restore sustainable economic growth.

What did the IMF do in South Africa?

The IMF staff held meetings with the South African government, the South African Reserve Bank, stateowned enterprises (SOEs), business, organised labour, and academia. The outcome of their consultation is summarised in an Article IV Report, which was also considered by the IMF Executive Board.

When was the last IMF Executive Board Consultation in South Africa?

Pretoria, 0181. Sign up to receive free e-mail notices when new series and/or country items are posted on the IMF website. The last Article IV Executive Board Consultation was on January 24, 2020. Listed below are items related to South Africa.

Where do I send questions about the IMF publication title?

January 30, 2020 Please address any questions about this title to [email protected]

What does the IMF surveillance function actually do?

Part of the surveillance function, as prescribed in the IMF’s Articles of Agreement, requires that the IMF visits each member country twice a year to conduct economic and financial assessments of government policies and provide policy recommendations.