04854oam 22011894 450 991095586770332120250426110923.0978661383055597814623790641462379060978145278243014527824319781283518109128351810497814519862041451986203(CKB)3360000000443979(EBL)3014465(SSID)ssj0000940708(PQKBManifestationID)11519295(PQKBTitleCode)TC0000940708(PQKBWorkID)10956016(PQKB)10350470(OCoLC)694141134(IMF)WPIEE2006171(MiAaPQ)EBC3014465(IMF)WPIEA2006171WPIEA2006171(EXLCZ)99336000000044397920020129d2006 uf 0engurcnu||||||||txtccrWeathering 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 Dudine1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (33 p.)IMF Working Papers"July 2006."9781451864311 1451864310 Includes bibliographical references.""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""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.IMF Working Papers; Working Paper ;No. 2006/171Balance of paymentsDeveloping countriesPetroleum industry and tradeEconomic aspectsDeveloping countriesPetroleum productsPricesBalance of paymentsimfCapital accountimfCurrent Account AdjustmentimfEnergy: Demand and SupplyimfEnergy: GeneralimfExports and ImportsimfFuel pricesimfImportsimfInternational economicsimfInvestment & securitiesimfInvestments: EnergyimfMacroeconomicsimfOil pricesimfOilimfPetroleum industry and tradeimfPricesimfShort-term Capital MovementsimfTrade: GeneralimfCentral African RepublicimfBalance of paymentsPetroleum industry and tradeEconomic aspectsPetroleum productsPrices.Balance of paymentsCapital accountCurrent Account AdjustmentEnergy: Demand and SupplyEnergy: GeneralExports and ImportsFuel pricesImportsInternational economicsInvestment & securitiesInvestments: EnergyMacroeconomicsOil pricesOilPetroleum industry and tradePricesShort-term Capital MovementsTrade: GeneralTadesse Helaway1816123Dudine Paolo1451146John James1816124Lewis Mark(Mark White)792112Monasi Luzmaria1816125Zeuner Jörg1816126International Monetary Fund.Policy Development and Review Dept.DcWaIMFBOOK9910955867703321Weathering the Storm So Far4371801UNINA