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Weathering the Storm So Far : The Impact of the 2003–05 Oil Shock on Low-Income Countries / Helaway Tadesse, Mark Lewis, Jörg Zeuner, James John, Luzmaria Monasi, Paolo Dudine.
- Format:
- Book
- Government document
- Author/Creator:
- Tadesse, Helaway.
- Series:
- IMF Working Papers; Working Paper ; No. 2006/171
- IMF Working Papers
- Language:
- English
- Subjects (All):
- International Monetary Fund--Developing countries.
- International Monetary Fund.
- Balance of payments--Developing countries.
- Balance of payments.
- Petroleum industry and trade--Economic aspects--Developing countries.
- Petroleum industry and trade.
- Petroleum products--Prices.
- Petroleum products.
- Physical Description:
- 1 online resource (33 p.)
- Edition:
- 1st ed.
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2006.
- Language Note:
- English
- Summary:
- This paper examines the impact of the 2003-05 oil price increase on the balance of payments positions and IMF financing needs of low-income country oil importers. It finds that stronger exports reflecting favorable global conditions, a compression of oil import volumes due to the pass-through of world prices to domestic consumers, and a large increase in capital inflows helped low-income countries cope with the oil price shock. Preliminary data suggest that reductions in oil import volumes have not harmed growth. While fiscal balances generally improved, quasi-fiscal liabilities may be building. Lower demand for IMF assistance may reflect broader trends, but further oil price increases could put pressure on additional countries in 2006 and beyond.
- Contents:
- ""Contents""; ""I. INTRODUCTION""; ""II. THE GLOBAL AND HISTORICAL CONTEXT""; ""III. Balance of Payments Impact""; ""IV. FISCAL IMPACT""; ""V. LOOKING FORWARD POSSIBLE VULNERABILITIES""; ""VI. CONCLUSIONS AND IMPLICATIONS FOR DEMAND FOR IMF RESOURCES""; ""APPENDIX I COMPARISON TO OIL SHOCKS OF THE 1970's""; ""APPENDIX II ECONOMETRIC ANALYSIS""
- Notes:
- "July 2006."
- Includes bibliographical references.
- Description based on print version record.
- ISBN:
- 9786613830555
- 9781462379064
- 1462379060
- 9781452782430
- 1452782431
- 9781283518109
- 1283518104
- 9781451986204
- 1451986203
- OCLC:
- 694141134
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