DOCSLIB.ORG

Annual Report African Development Bank Group Table of Contents Member Countries Message from the President

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report African Development Bank Group Table of Contents Member Countries Message from the President AFRICAN DEVELOPMENT BANK GROUP 2019 Annual Report African Development Bank Group Table of Contents Member Countries Message from the President ........................................... ii ....................... i Regional Letter of Transmittal v President and Algeria, Angola, Benin, Botswana, Burkina Executive Directors ......................... v Faso, Burundi, Cabo Verde, Cameroon, Central 2019 Quick Facts ............................ vi African Republic, Chad, Comoros, Congo, Côte d’Ivoire, Democratic Republic of Congo, Djibouti, Egypt, Equatorial Guinea, Eritrea, Eswatini, Ethiopia, Gabon, Gambia (The), Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritania, Mauritius, Morocco, Mozambique, Namibia, Niger, Nigeria, Rwanda, São Tomé & Príncipe, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, South Sudan, Sudan, Tanzania, Togo, Tunisia, Uganda, Zambia, Africa’s Development Zimbabwe. Context PAGE 1 Non-regional Argentina, Austria, Belgium, Brazil, Canada, China, Denmark, Finland, France, Germany, India, Italy, Japan, Korea, Kuwait, Luxembourg, Netherlands (The), Norway, Portugal, Saudi Arabia, Spain, Sweden, Switzerland, Turkey, United Arab Emirates (member of the African Bank Group Development Fund only), United Kingdom, Operations Through United States of America. a High 5 Lens PAGE 4 Boxes Box 2.1 DESCOs—Deploying off-grid solutions throughout Africa .... 11 Box 2.2 Metrics and expected outcomes of operations approved for Light Up and Power Africa in 2019 .................................... 12 Box 2.3 Metrics and expected outcomes of some of the operations approved for Feed Africa in 2019 ........................ 16 Box 2.4 Sierra Leone—Promoting food security and employment through agribusiness ........................................ 17 Box 2.5 Mozambique—Largest FDI in Africa from all sources ........... 20 Box 2.6 Metrics and expected outcomes of some of the Enhancing the operations approved for Industrialize Africa in 2019 .............. 21 Box 2.7 Metrics and expected outcomes of some of the Bank Group’s operations approved for Integrate Africa in 2019 .................. 24 Capacity to Deliver Box 2.8 Access to Red Sea for Ethiopia, South Sudan, and Uganda .............................................................................. 25 PAGE 41 Box 2.9 Morocco—Improving the living conditions of poor populations ................................................................. 29 Box 2.10 Metrics and expected outcomes for some of the operations approved for Improving the Quality of Life for the People of Africa in 2019 ........................................ 31 Box 2.11 Transforming the cocoa sector in Ghana .............................. 33 Box 2.12 Bank response to the cyclones in Mozambique, Malawi, and Zimbabwe ........................................................... 38 Box 2.13 Expanding access to the future road-rail bridge over the Congo River linking Democratic Republic of Congo and the Republic of Congo ................... 39 Box 2.14 Burkina Faso—Ten-fold increase in rural electrification ........ 40 Box 3.1 The Integrated Quality Assurance Plan ................................. 42 Box 3.2 Statistics-related support to the High 5s ............................... 50 Figures Board Oversight Figure 2.1 Bank Group approvals, 2017–19 .............................................. 5 Figure 2.2 Bank Group approvals by High 5 priority, 2017–19 ................. 6 PAGE 52 Figure 2.3 Bank Group disbursements, 2014–19 ...................................... 7 Figure 2.4 Bank Group portfolio distribution across sectors at end 2019 ................................................................................. 8 Figure 2.5 Climate finance, 2019 .............................................................. 36 Figure 2.6 Bank Group approvals by region, 2019 ................................. 37 Figure 4.1 Standing Committees of the Boards ...................................... 57 Tables Table 2.1 Bank Group approvals by source and financing instrument, 2019......................................................................... 5 Table 2.2 Bank Group portfolio by region, 2019 ................................... 37 Table 3.1 Resources mobilized through trust funds in 2019 ................. 47 Financial Highlights Table 3.2 Bank Group staffing on 31 December 2019 .......................... 48 Table 5.1 Abridged financial results of the Bank Group and Abridged entities, 2019 ............................................................................ 62 Financial Statements Table 5.2 ADB: Selected financial metrics, 2015–19.............................. 63 Table 5.3 Selected financial metrics of the Bank Group, 2015–19 ....... 65 PAGE 61 Appendices ................................................................................ 66 Message from the President The 2019 Annual Report is published historic USD 115 billion capital injection. This was when the international community is accompanied by a successful 15th replenishment fighting one of the worst health crises of the African Development Fund (ADF-15), in living memory. At the time the which at USD 7.5 billion was 28 percent higher Annual Report went to print, nearly than the previous replenishment. 8 million people around the world Both of these unique moments in the life of the including more than 230,000 people in Bank demonstrated a strong vote of confidence Africa had contracted COVID-19. The — in the Bank and in Africa’s development pandemic presents our continent with prospects. The additional resources will enable an unprecedented challenge. National health us to scale up results for the people of Africa. We and social protection systems are being severely are working with African governments to deliver tested, while African economies are reeling from strategic infrastructure projects that promote the global economic impact. inclusive growth and regional integration. Despite all the headwinds, the African As we look back at some of the transformative Development Bank Group has remained firm projects we commissioned, I take pride in the in its commitment, fundamental promise and landmark Senegambia bridge. The bridge is the mission to press ahead with the continent’s culmination of a 40-year dream of an efficient economic transformation. As we reflect on the transport link between the north and south of past year, we have reasons to be hopeful. the two countries. The 942-metre infrastructure In 2019, Africa was home to five of the world’s masterpiece is the first phase in the development fastest growing economies. With its rapid of a transport corridor that will bring an end to urbanisation, youthful labour force and rising delays caused by ferry crossings, poor roads and middle class, Africa’s growth is driven increasingly numerous inefficiencies at the border. by investments. On the southern tip of Africa, our investment in Sustained growth has made African countries Namibia’s Walvis Bay Port, with a new container ambitious to accelerate their economic terminal built on reclaimed land complemented transformation, diversify their economies and with enhanced logistics capacity, will most close the gap with other regions. We see this importantly, pave the way for landlocked ambition in the growing demand for the Bank’s neighbouring countries to find a gateway development finance. Our portfolio has grown to the world. 47 percent in value since 2015. In 2019, new approvals reached USD 10 billion, on the back In a similar vein, Somalia offers a remarkable of strong growth in both sovereign and non- story of progress and confirms our resolve sovereign operations. With a robust pipeline of to address fragility and ensure that no one operations ahead, it is clear that the demand for is left behind. In 2019, we helped Somalia our finance remains strong. clear its debt arrears and regain access to international finance. In 2019, the international community recognised the Bank’s central role in meeting Africa’s finance We fast-tracked a regional emergency recovery needs. Following a series of discussions in Rome, programme to reduce vulnerability to climate Washington DC, Malabo and Sharm el-Sheikh, change and natural disasters in Mozambique, the Board of Governors endorsed a 7th General Zimbabwe, Malawi and the Comoros following Capital Increase (GCI-VII), at an extraordinary the 2019 Cyclones Idai and Kenneth. And as meeting in Abidjan, Côte d’Ivoire, agreeing a a founding member of the Sahel Alliance, we ii African Development Bank Group MESSAGE FROM THE PRESIDENT continue to build strategic partnerships in the G5 We are implementing a comprehensive quality Sahel and the Lake Chad Basin. assurance plan, covering every step in the project cycle, to enhance the quality of our operations. At the level of the broader continent, the Bank has We are introducing new selectivity guidelines, to thrown its weight behind several game-changing drive a tighter focus on fewer but more strategic initiatives. investments. Take the African Continental Free Trade Area We are working to strengthen our capacity to (AfCFTA), which entered its operational phase ‘Deliver as One Bank’ across an increasingly in July 2019. The AfCFTA was established to decentralised organisation. We are undertaking strengthen the economic foundations of the a comprehensive review of our financial and risk continent and thereby create the world’s largest policies, to ensure we continue to retain our free-trade zone worth USD 3.3 trillion. Since
Load more

Recommended publications
  • Weatherhead Center for International Affairs
    WEATHERHEAD CENTER FOR INTERNATIONAL AFFAIRS H A R V A R D U N I V E R S I T Y two2004-2005 thousand four – two thousand five ANNUAL REPORTS two2005-2006 thousand five – two thousand six 1737 Cambridge Street • Cambridge, MA 02138 www.wcfia.harvard.edu TABLE OF CONTENTS INTRODUCTION 2 PEOPLE Visiting Committee 4 Executive Committee 4 Administration 6 RESEARCH ACTIVITIES Small Grants for Faculty Research Projects 8 Medium Grants for Faculty Research Projects 9 Large Grants for Faculty Research Projects 9 Large Grants for Faculty Research Semester Leaves 9 Distinguished Lecture Series 11 Weatherhead Initiative in International Affairs 12 CONFERENCES 13 RESEARCH SEMINARS Challenges of the Twenty-First Century 34 Communist and Postcommunist Countries 35 Comparative Politics Research Workshop 36 Comparative Politics Seminar 39 Director’s Faculty Seminar 39 Economic Growth and Development 40 Harvard-MIT Joint Seminar on Political Development 41 Herbert C. Kelman Seminar on International Conflict Analysis and Resolution 42 International Business 43 International Economics 45 International History 48 Middle East 49 Political Violence and Civil War 51 Science and Society 51 South Asia 52 Transatlantic Relations 53 U.S. Foreign Policy 54 RESEARCH PROGRAMS Canada Program 56 Fellows Program 58 Harvard Academy for International and Area Studies 65 John M. Olin Institute for Strategic Studies 74 Justice, Welfare, and Economics 80 Nonviolent Sanctions and Cultural Survival 82 Religion, Political Economy, and Society 84 Student Programs 85 Transnational Studies Initiative 95 U.S.-Japan Relations 96 PUBLICATIONS 104 ANNUAL REPORTS 2004–2005 / 2005–2006 - 1 - INTRODUCTION In August 2005, the Weatherhead Center moved In another first, the faculty research semester to the new Center for Government and leaves that the Center awarded in spring 2005 International Studies (CGIS) complex.
    [Show full text]
  • Circular Economy in Africa-EU Cooperation
    Circular Economy in Africa-EU Cooperation Country Report Senegal Written by November - 2020 EUROPEAN COMMISSION Directorate-General for Environment Directorate F – Global Sustainable Development Unit F2 - Bilateral & Regional Environmental Cooperation Contact: Gaëtan Ducroux E-mail: [email protected] European Commission B-1049 Brussels EUROPEAN COMMISSION Circular Economy in Africa-EU Cooperation Country Report Senegal Authors: Bonnaire, S.M.; Jagot, J.; Spinazzé, C.; Potgieter, J.E.; Rajput, J.; Hemkhaus, M.; Ahlers, J.; Koehler, J.; Van Hummelen, S. & McGovern, M. Acknowledgements We acknowledge the valuable contribution of several co-workers from within the four participating institutions, as well as the feedback received from DG Environment and other DG’s of the European Commission as well as the Members of the EU delegation to Senegal. Preferred citation Bonnaire, S.M.; Jagot, J.; Spinazzé, C. (2020) Circular economy in the Africa-EU cooperation - Country report for Senegal. Country report under EC Contract ENV.F.2./ETU/2018/004 Project: “ “Circular Economy in Africa-Eu cooperation”, Trinomics B.V., ACEN, adelphi Consult GmbH and Cambridge Econometrics Ltd. In association with: LEGAL NOTICE This document has been prepared for the European Commission however it reflects the views only of the authors, and the Commission cannot be held responsible for any use which may be made of the information contained therein. More information on the European Union is available on the Internet (http://www.europa.eu). Luxembourg: Publications Office of the European Union, 2020 PDF ISBN 978-92-76-26828-4 doi:10.2779/042060 KH-06-20-056-EN-N © European Union, 2020 The Commission’s reuse policy is implemented by Commission Decision 2011/833/EU of 12 December 2011 on the reuse of Commission documents (OJ L 330, 14.12.2011, p.
    [Show full text]
  • POLITICAL CLIMATE REPORT Prior to the Prior to to Assuage the Uncertainty That Has Been Plaguing the Argentine Economy Since April This Year
    CONTACT INFORMATION POLITICAL & REGULATORY RISKS [email protected] Juan Cruz Díaz [email protected] www.cefeidas.com Madeleine Elder +54 (11) 5238 0991 (ARG) [email protected] +1 (646) 233 3204 (USA) Megan Cook Torre Bellini [email protected] Esmeralda 950 Sergio Espinosa Ciudad Autónoma de Buenos Aires [email protected] (C1007ABL) República Argentina Political Climate Report - ARGENTINA September 28, 2018 POLITICAL CLIMATE REPORT IN THIS ISSUE The Macri administration is looking to restore confidence in the markets Page 3 following weeks of economic turmoil. A modified agreement between Government reduces cabinet ministries Argentina and the International Monetary Fund, changes in central bank in effort to show austerity strategy and the ongoing debate to finalize the 2019 budget may prove Page 5 pivotal to stabilize the local economy. With brewing social unrest, Unions hold fourth general strike ongoing corruption investigations into the previous administrations and Page 6 Macri’s announced bid for reelection in 2019, the government will have Carlos Rosenkrantz named new to perform a delicate balancing act between mitigating short-term president of the Supreme Court unrest and achieving longer-term objectives. Page 7 More chapters in the notebooks scandal Tying it all together: the IMF agreement, central bank Page 8 changes, and the 2019 budget G20 watch In late August and early September, the Macri administration scrambled to respond to a fresh plunge in the already-depreciated Argentine peso (relative to the U.S. dollar). The crisis culminated in a series of measures taken by the government to reassure investors and restore confidence in the markets, including renegotiating the USD 50 billion stand-by agreement with the International Monetary Fund (IMF), tightening 2019 budget and cutting the number of ministries.
    [Show full text]
  • 1 Political Shocks and Asset Prices Daniel Carnahan
    Political Shocks and Asset Prices Daniel Carnahan (Business Insider) Sebastian Saiegh (University of California San Diego) Abstract We estimate how asset prices respond to a range of political shocks, including changes in a country’s economic stewardship, national elections, coup d'états, wars, and terrorist attacks. Multiple instances of these events took place in Argentina between 1967 and 2020. Using an event study approach and over 13,000 daily prices from the Buenos Aires exchange, we find that stock-market volatility increases in the days immediately following unexpected, major policy- shifting events. These results hold irrespective of whether market returns are measured in nominal terms, in local consumption units, or in US dollars. Our analysis allows us to establish comparisons across different types of political shocks while avoiding the identification problems of multi-country event studies. The most significant increase in post-event risk is associated with irregular government turnovers (coup d'états, presidential death, resignations); approximately 100 percent on average, when returns are expressed in US dollars. Volatility also increases in the days immediately following a defeat in an international war, national elections and changes in the country’s economic stewardship. No changes in stock market volatility occur, however, after terrorist attacks or when the date of a new administration’s inauguration is publicly known and determined sufficiently far in advance. Word Count: 10,929 1 Introduction Investors concerned about non-commercial risks need to consider their exposure to political events that may affect the value of their assets. These political risks can originate in specific government actions, such as laws or regulations.
    [Show full text]
  • Policy Innovations for Food Systems Transformation in Africa
    CONNECTING THE DOTS: Policy Innovations for Food Systems Transformation in Africa A Malabo Montpellier Panel Report 2021 CONNECTING THE DOTS: Policy Innovations for Food Systems Transformation in Africa ACKNOWLEDGEMENTS The writing of the report was led by Meera Shah (Imperial College London), Mahamadou Tankari (Akademiya2063), Sarah Lewis (Imperial College London) and Katrin Glatzel (Akademiya2063) the Panel’s program director, under the guidance of Ousmane Badiane and Joachim von Braun, co-chairs of the Malabo Montpellier Panel. The input and advice of Panel members Debisi Araba, Noble Banadda, Elisabeth Claverie de Saint Martin, and Sheryl Hendriks is especially acknowledged. We would also like to thank John Asafu Adjaye (ACET), Charles Chinkhuntha (Malawi Ministry of Agriculture), Amos Laar (University of Ghana), Lloyd Le Page (Tony Blair Institute for Global Change), Mohamed Moussaoui (Mohammed VI Polytechnic University), Fatima Ezzahra Mengoub (Policy Center for the New South), Greenwell Matchaya (IWMI), David Spielman (IFPRI), and John Ulimwengu (IFPRI) for their input and feedback on the report and the case studies. This report was designed by Tidiane Oumar Ba (Akademiya2063) with support from Minielle Nabou Tall (Akademiya2063). iii Malabo Montpellier Panel Report July 2021 FOREWORD The COVID-19 pandemic has shone a light on the food system transformation and will also help ensure pinch points in Africa’s food and agricultural sectors. that policies respond to the needs of all stakeholders, Disrupted supply chains, job losses (especially including the most vulnerable and marginalized. informal employment and jobs in urban areas), rising In Africa, food systems are now at a crossroads. Threats food prices, and a reversal in dietary diversity have and challenges persist, but there are ways to address all severely undermined recent development gains.
    [Show full text]
  • Tight Squeeze by Now, It Is Clear That Argentine President
    Preview - Weekly Asado 11/9/2018 Page 1 of 8 Friday, November 9, 2018 Belt and Road: Tight squeeze By now, it is clear that Argentine President Maurcio Macri has no plans to distance Argentina from Beijing. Before taking office in late 2015, Mr. Macri criticized former President Cristina Fernández de Kirchner for cozy deals with China – contracts he maligned as nontransparent. China’s chief geopolitical rival, the United States, was Argentina’s natural partner, Mr. Macri suggested. But in office, he underwent a swift transition, recognizing both the limits to U.S. assistance and the bottomless resources China has made available for financing infrastructure in Latin America. That financing is even more important now, as Argentina’s International Monetary Fund bailout restricts capital spending. Even Argentina’s PPPs (public-private partnerships) might depend upon China’s participation, as high interest rates and corruption discourage Western investors. Then there’s the possibility of Argentina expanding its CFK-era local currency swap with China – an opportunity to grow gross reserves by $9 billion that Argentina’s new central bank president, Guido Sandleris, was reportedly pursuing on a recent trip to Beijing. Though Mr. Macri has taken a consistently hard line with Venezuela over its repression of dissent, he has said little about President Xi Jinping’s notorious human rights abuses, ranging from political prisoners to the arbitrary detention of Uighurs. https://email.everyaction.com/EmailMessage/PreviewMessage/d1c689e8-59e3-e811-860... 11/16/2018 Preview - Weekly Asado 11/9/2018 Page 2 of 8 Fortunately for Mr. Macri, so far, there has been no serious diplomatic cost to Argentina’s closeness to Beijing, though the State Department has privately communicated its discomfort.
    [Show full text]
  • Programa Lacea-Lames
    INDEX Welcome to Rio......................................................................................................................3 Synthetic Program ..................................................................................................................5 Sponsors - LACEA.................................................................................................................6 Sponsors - LAMES.................................................................................................................7 Chairs......................................................................................................................................8 LACEA Program Committee .................................................................................................9 LAMES Scientific Committee..............................................................................................11 Local Committee ..................................................................................................................12 General Information .............................................................................................................13 COMPLETE PROGRAM ....................................................................................................16 THURSDAY 20 November 2008…………………………………………………….. 16 FRIDAY 21 November 2008 ………………………………………………………… 43 SATURDAY 22 November 2008 ……………………………………………………. 65 SUNDAY 23 November 2008……………………………………………………....... 93 Index of Presenters .............................................................................................................106
    [Show full text]
  • LATIN AMERICA ADVISOR a DAILY PUBLICATION of the DIALOGUE Thursday, September 27, 2018
    LATIN AMERICA ADVISOR A DAILY PUBLICATION OF THE DIALOGUE www.thedialogue.org Thursday, September 27, 2018 BOARD OF ADVISORS FEATURED Q&A TODAY’S NEWS Diego Arria Director, Columbus Group ECONOMIC Devry Boughner Vorwerk Corporate VP, Global Corporate Affairs How Are Trade IMF Increases Cargill Joyce Chang Size of Argentina Global Head of Research, Tensions Affecting Loan Package JPMorgan Chase & Co. The International Monetary Fund Dirk Donath Senior Partner, agreed to increase the size of its Catterton Aimara Latin America? loan package for Argentina by Marlene Fernández nearly 15 percent to $57.1 billion. Corporate Vice President for Page 2 Government Relations, Arcos Dorados Peter Hakim BUSINESS President Emeritus, Inter-American Dialogue Petroperú to Sell Donna Hrinak $600 Mn in Bonds President, Boeing Latin America Jon Huenemann for Refinery Work Vice President, U.S. & Int’l Affairs, The Peruvian state energy Philip Morris International company is issuing the bonds to James R. Jones Chairman, pay for modernization of its Talara refinery in order to expand its Monarch Global Strategies International Monetary Fund Managing Director Christine Lagarde warned recently about Craig A. Kelly threats facing emerging markets due to trade tensions between the United States and China. production capacity. Director, Americas International // File Photo: International Monetary Fund. Page 3 Gov’t Relations, Exxon Mobil The International Monetary Fund’s managing director, John Maisto Director, U.S. Education Christine Lagarde, warned this month in an interview with POLITICAL Finance Group the Financial Times that emerging markets could suffer a Venezuela’s Nicolás Mariscal Chairman, Q “shock” due to the escalating trade war between the United Maduro Blasts U.S.
    [Show full text]
  • Information As of 2 September 2019 Has Been Used in Preparation of This Directory
    Information as of 2 September 2019 has been used in preparation of this directory. PREFACE Key To Abbreviations Adm. Admiral Admin. Administrative, Administration Asst. Assistant Brig. Brigadier Capt. Captain Cdr. Commander Cdte. Comandante Chmn. Chairman, Chairwoman Col. Colonel Ctte. Committee Del. Delegate Dep. Deputy Dept. Department Dir. Director Div. Division Dr. Doctor Eng. Engineer Fd. Mar. Field Marshal Fed. Federal Gen. General Govt. Government Intl. International Lt. Lieutenant Maj. Major Mar. Marshal Mbr. Member Min. Minister, Ministry NDE No Diplomatic Exchange Org. Organization Pres. President Prof. Professor RAdm. Rear Admiral Ret. Retired Rev. Reverend RNTEST TEST RNTEST1 Test RNTEST12 Test Sec. Secretary TA Test Abbreviation VAdm. Vice Admiral VMar. Vice Marshal Afghanistan Last Updated: 24 Jun 2019 Pres. Ashraf GHANI CEO Abdullah ABDULLAH, Dr. First Vice Pres. Abdul Rashid DOSTAM Second Vice Pres. Sarwar DANESH First Deputy CEO Khyal Mohammad KHAN Min. of Agriculture, Irrigation, & Livestock Nasir Ahmad DURRANI Min. of Border & Tribal Affairs Gul Agha SHERZAI Min. of Commerce & Industry Ajmal AHMADY (Acting) Min. of Counternarcotics Salamat AZIMI Min. of Defense Asadullah KHALID (Acting) Min. of Economy Mohammad Mustafa MASTOOR Min. of Education Mohammad Mirwais BALKHI (Acting) Min. of Energy & Water Tahir SHARAN (Acting) Min. of Finance Mohammad Humayun QAYOUMI (Acting) Min. of Foreign Affairs Salahuddin RABBANI Min. of Hajj & Islamic Affairs Faiz Mohammad OSMANI Min. of Higher Education Abdul Tawab BALAKARZAI (Acting) Min. of Information & Culture Hasina SAFI (Acting) Min. of Interior Mohammad Masood ANDARABI (Acting) Min. of Justice Abdul Basir ANWAR Min. of Martyred, Disabled, Labor, & Social Affairs Sayed Anwar SADAT (Acting) Min. of Mines & Petroleum Nargis NEHAN (Acting) Min.
    [Show full text]
  • Argentina Economic Outlook 4Q18
    Argentina Economic Outlook Fourth quarter 2018 Argentina Unit Contents 1. Summary 3 2. Global growth to slow slightly 4 3. Argentina: Reshuffle and deal again 7 4. Activity will grow in 1Q19, although this will not prevent GDP falling in 2018 and 2019 9 5. Control of monetary aggregates to replace the short-lived experiment with inflationary targets 10 6. In search of fiscal balance in 2019 12 7. Sharp adjustment after marked real depreciation of the peso 13 8. A series of economic, political and external uncertainties in 2019 15 9. Tables 16 Date of close: 17 October 2018 Argentina Economic Outlook - Fourth quarter 2018 2 1. Summary The global economy continues to show positive signs, albeit within a context of growing uncertainty. World growth has continued over recent months, although protectionism increased between the US and China. Dollar appreciation was reflected in the increase in financial tension in emerging economies. The Fed and the ECB continue to make progress toward a normalisation of monetary policy, representing a gradual tightening of monetary conditions, which will continue to put pressure on these economies, although it should be added that this is not a systemic crisis. Within an overall panorama of a slight slowdown in 2019, the main risk is still that of protectionism. The June agreement between Argentina and the IMF did not lead to the expected recovery of confidence. 3Q18 saw a new round of capital outflows and another important depreciation of the peso which only slowed down after a further fiscal adjustment in search of a fiscal balance in 2019, with an extension to the IMF agreement from US$50 million to $57.1 million and a doubling of the available funds for 2018 and 2019.
    [Show full text]
  • Pipeline of Joint Programmes June 2021 FOREWORD
    Pipeline of Joint Programmes June 2021 FOREWORD On behalf of the Steering Committee of the Migration Multi- Inherent in the notion of a ‘pipeline’ is flow. This booklet will be updated on a regular Partner Trust Fund, I am delighted to present this ‘Pipeline’ of basis, following each Steering Committee meeting to reflect the change in status joint programmes to support the implementation of the Global of the pipeline joint programmes and adding or removing projects in line with Compact for Safe, Orderly and Regular Migration (GCM). decisions taken. The adoption of the GCM in December 2018 marked a For this pipeline to achieve its purpose, three elements are key. stand-out achievement of the international community in the pursuit of enhanced cooperation and coordination around First, Member States, the UN Network on Migration and all stakeholders must remain international migration for the benefit of all. Like all multilateral committed to implementing the GCM and to keep jointly putting forward programme agreements, however, the challenge goes beyond finalizing ideas. The response thus far, in terms of interest and the innovation, teamwork and the text; our ambition must be to ensure that its words are expertise displayed, should provide us with cause for confidence. brought to life through action. This document provides a Secondly, the Migration MPTF governing structure and the teams whose programmes roadmap by which that can be done. have been selected for implementation must maintain the pace and take all necessary In the pages that follow you will find joint programmes covering all aspects of the measures to ensure timely disbursement and use of the funds.
    [Show full text]
  • Table of Contents U.S
    Treasury International Programs Table of Contents U.S. Department of the Treasury International Programs Congressional Justification for Appropriations FY 2021 FY 2021 Executive Summary ............................................................................................................. 2 International Monetary Fund ........................................................................................................... 6 Multilateral Development Banks ..................................................................................................... 9 World Bank Group ................................................................................................................................ 9 International Bank for Reconstruction and Development ..................................................................... 9 International Development Association ...................................................................................................... 13 International Finance Corporation ................................................................................................................ 16 African Development Bank Group ................................................................................................ 19 African Development Bank ............................................................................................................................... 19 African Development Fund ..............................................................................................................................
    [Show full text]