| Description |
1 online resource (46 pages) : illustrations |
| Series |
IMF Country Report ; No. 16/23 |
|
IMF country report ; no. 16/23.
|
| Summary |
Afghanistan's 2006 and 2011 Fund-supported programs were part of a broad reconstruction effort aimed at establishing macroeconomic stability and laying foundations for structural reforms. Decades of conflict eroded societal order and trust in government, and limited public institutions' implementation capacity. Both arrangements faced the challenges of dealing with unprecedented inflows of international aid and scaling up of public investment against the background of increasing nonsecurity. There were notable successes during the two programs, even though both fell short of their initial goals. On the one hand, supported by aid inflows, the economy grew fast, inflation declined, and international reserves increased. Afghanistan successfully completed the debt relief process under the Heavily Indebted Poor Countries Initiative. Selected structural reforms also advanced, particularly during the Poverty Reduction and Growth Facility arrangement, especially in the area of public financial management. Afghanistan made impressive strides toward meeting the Millennium Development Goals. On the other hand, fiscal sustainability remained elusive as the tax-to-GDP ratio declined and expenditures increased sharply owing to rising security and maintenance costs. Fiscal reforms, such as the VAT, remained incomplete. Despite progress in financial system oversight and governance, some financial sector reforms are still pending. The legislative framework and its enforcement remain to be completed |
| Notes |
"February 2016." |
|
"Authorized for distribution by Middle East and Central Asia, and Strategy, Policy, and Review Departments; the team comprised Alex̌ Bulíř, Padamja Khandelwal, Anna Ter-Martirosyan, Nombuelelo Duma, Noriaki Kinoshita, and Jojo Zhao, with support from Imel Yu"--Page 3 of pdf |
| Bibliography |
Includes bibliographical references (pages 32-36) |
| Notes |
Online resource; title from pdf title page (IMF Web site, viewed February 12, 2016) |
| Subject |
International Monetary Fund -- Afghanistan
|
| SUBJECT |
International Monetary Fund. fast (OCoLC)fst00556666 |
| Subject |
Economic development -- Afghanistan
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Fiscal policy -- Afghanistan
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Financial risk management -- Afghanistan
|
|
Economic development.
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Economic policy.
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Financial risk management.
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Fiscal policy.
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| SUBJECT |
Afghanistan -- Economic policy
|
| Subject |
Afghanistan.
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| Form |
Electronic book
|
| Author |
Buliř, Aleš, (IMF staff)
|
|
Khandelwal, Padamja, (IMF staff)
|
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Ter-Martirosyan, Anna, (IMF staff)
|
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Duma, Nombulelo, (IMF staff)
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Kinoshita, Noriaki, 1965- (IMF staff)
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Zhao, Jojo, (IMF staff)
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Yu, Imel, (IMF staff)
|
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International Monetary Fund, issuing body.
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International Monetary Fund. Middle East and Central Asia Department.
|
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International Monetary Fund. Strategy, Policy, and Review Department.
|
| ISBN |
149830432X |
|
9781498304320 |
| ISSN |
1934-7685 |
|
