Qatar : Selected Issues.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. Middle East and Central Asia Department.

Contributor:

International Monetary Fund.

Series:

IMF Staff Country Reports; Country Report ; No. 2013/015

IMF Staff Country Reports

Language:

English

Subjects (All):

Monetary policy--Qatar.

Monetary policy.

Qatar--Economic conditions.

Qatar.

Physical Description:

1 online resource (52 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2013.

Language Note:

English

Summary:

Qatar has recently taken steps toward introducing a medium-term budget framework (MTBF) to enhance the predictability of spending decisions in the country. However, implementing medium-term fiscal planning requires formal procedural fiscal rules and parallel efforts to enhance the credibility of the annual budget. Given Qatar’s significant exposure to hydrocarbon price movements and its long-lasting hydrocarbon reserves, such fiscal rules would need a certain degree of flexibility and, at the same time, should be set to maintain consistency with long-term fiscal sustainability.

Contents:

Cover; Contents; I. Medium-Term Budget Framework in Qatar; A. Introduction; B. Components of Medium-Term Fiscal Planning and Current Arrangements in Qatar; C. Medium-Term Budgeting in Qatar: Objectives and Focus; Tables; I.1. Macroeconomic Volatility in Qatar, 1990-2010; I.2. Volatility of Government Spending, 1990-2010; Figures; I.1. Composition of Current Expenditure, 2007-12; I.2. Fiscal and External Break-Even Oil Prices, 2009-17; D. Pre-requisites of MTBF in Qatar; I.3. Budgeted vs. Actual Outcomes, 2008-11; E. Going Forward: Fiscal Rules; I.4. NOPB Rule Simulations, 1990-2011

I.5. Expenditure Rule Simulations, 1990-2011Boxes; I.1. Country Experience with MTFF/MTEFs in Resource-Producing Countries; F. Conclusion; Appendix: Potential Fiscal Rules; I.6. Properties of the Non-Oil Balance Rule; I.7. Properties of the Expenditure Rule; I.8. Properties of the Debt Brake Mechanism; References; II. Moving Towards Market Based Liquidity Management in Qatar; A. Introduction; B. The Hydrocarbon Boom, Surplus Liquidity and Asset Price Inflation; II.1. Hydrocarbon Boom, 2004-11; II.1. SHUAA Capital Qatar Index, 2003-07; C. Liquidity Management in Qatar

II.2. QMR Standing Facility and Interbank Rates, 2002-12II.1. Liquidity Management Instruments; D. Recent Reforms to the Liquidity Management Framework; II.3. Deposit Rate-LIBOR Spread and International Arbitrage, 2006-11; II.4. Impact of Liquidity Management Reforms on the Qatar Interbank Rate, 2010-12; II.5. Interbank Market Activity, 2010-12; E. Liquidity Forecasting; II.2. Simplified QCB's Balance Sheet, December 2010; II.6. Relative Importance of Autonomous Supply Factors, 2001-12; II.2. An Illustration of the Usefulness of Liquidity Forecasting

F. Considerations for Further Enhancement of the QCB's Liquidity Management FrameworkII.3. Country Experiences of Moving from Floor to Mid-rate Corridor System; References; III. Financial Deepening and Local Currency Debt Market Development in Qatar; A. Introduction; B. The Current State of Government Securities Market Development in Qatar; III.1. Qatar Capital Markets Conference; III.1. Domestic Government Bond Issuances; III.1. Treasury Bills; III.2. Outstanding Stock of Domestic Government Securities-International Comparison

C. Building Blocks of Secondary Market Development for Government SecuritiesD. Corporate Debt Market Development; References

Notes:

Description based upon print version of record.

Includes bibliographical references.

Description based on print version record.

ISBN:

9781616354534

1616354534

9781475579383

1475579381

9781299264908

1299264905

9781616356996

1616356995