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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

Abstract
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
Table Of 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""
Language
eng
Literary Form
non fiction
Note
"July 2006."
Physical Description
1 online resource (33 p.)
Form Of Item
online
Isbn
9781462379064

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