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...

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Detalles Bibliográficos
Autor Principal: Tadesse, Helaway
Outros autores: John, James, Lewis, Mark, Zeuner, Jorg
Formato: Revista
Idioma:English
Publicado: Washington, D.C. : International Monetary Fund, 2006.
Series:IMF Working Papers; Working Paper ; No. 2006/171
Acceso en liña:Full text available on IMF
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245 1 0 |a Weathering the Storm So Far :   |b The Impact of the 2003-05 Oil Shock on Low-Income Countries /  |c Helaway Tadesse, Mark Lewis, Jorg Zeuner, James John. 
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490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
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520 3 |a 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. 
538 |a Mode of access: Internet 
700 1 |a John, James. 
700 1 |a Lewis, Mark. 
700 1 |a Zeuner, Jorg. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2006/171 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2006/171/001.2006.issue-171-en.xml  |z IMF e-Library