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Weathering the storm so far : the impact of the 2003-05 oil shock on low-income countries /
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 wor...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund, Policy Development and Review Dept.,
2006.
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| Colección: | IMF working paper ;
WP/06/171. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | 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. |
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| Descripción Física: | 1 online resource (31 pages) : illustrations |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 1283518104 9781283518109 9781451986204 1451986203 1462379060 9781462379064 1452782431 9781452782430 9786613830555 6613830550 |