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Taxation, Value-added tax, Tax reform, and Government revenue

Strengthening fiscal capacity in low- and middle-income countries is essential for achieving sustainable development. The International Monetary Fund—the world's premier agent of fiscal policy reform—has taken a front-stage role in this process, promoting a model of tax policy that favors broad-based consumption taxes and discourages trade taxes. This article investigates the links between IMF-mandated tax reforms and the evolution of tax revenues. Using novel measures of tax-related conditionality and disaggregated data on revenues, our analysis shows that IMF interventions are significantly related to changes in tax structure. In particular, IMF programs increase revenues derived from goods and services taxes, but decrease revenues collected from trade taxes. Results for personal and corporate income taxes are inconclusive. These findings have important implications for debates on the role of the IMF in developing countries. [ABSTRACT FROM AUTHOR]

Gross income, Income distribution, Correlation (Statistics), and International organization

The policy advice literature has paid little attention to the role of international organizations in policy advisory systems. This article offers a systematic analysis of policy advice provided by the International Monetary Fund (IMF) in the framework of the IMF's regular Article IV consultations. The article argues that the content of IMF advice differs according to the income of the advised countries. Content analyses of the Article IV consultation reports of 18 countries show correlations between the gross national income (GNI) of the advised countries and the function of advice in the policy cycle, the specificity of advice, the recommended policy instruments and the targeted policy issues. Results show that the IMF rather points to policy problems, advices on policy goals and focuses on improving implementation when advising lower income countries. When advising higher income countries, the IMF's advice focuses on means and specific policy tools. [ABSTRACT FROM AUTHOR]

International Monetary Fund, ukraine, cooperation, borrowing, financial resources, balance of payments, credit programs, международный валютный фонд, украина, заимствования, сотрудничество, финансовые ресурсы, платежный баланс, кредитные программы, Міжнародний валютний фонд, Україна, співпраця, запозичення, фінансові ресурси, платіжний баланс, and кредитні програми

The article an attempt was made to trace the historical path of cooperation between Ukraine and the International Monetary Fund from the early 1990s, when Ukraine gained independence, to the present. The purpose of the International Monetary Fund's activity has been defined in Article I of the Fund's Statute and is to promote: international monetary cooperation; expansion and balanced growth of international trade; exchange rate stability, maintenance of proper exchange between participants; the creation of a multilateral system of payments for current transactions between members and the elimination of currency restrictions that impede the growth of world trade; reduction of terms and degree of imbalance of participants' balance of payments. The main task of Ukraine's cooperation with the International Monetary Fund is financial support and development of the economy as a whole, as well as its restructuring from a planned administrative type to a market one. In addition, Ukraine has been experiencing a difficult period since 2014 in the context of military conflict with the Russian Federation, as well as the loss of part of its territories that played an appropriate economic role in the country's life. The International Monetary Fund has become a major donor in such a difficult environment. The International Monetary Fund is a unique organization in the world in the number and diversity of member countries, while maintaining the status of a lender of last resort in the event of financial crises. The International Monetary Fund provides foreign currency loans to Member States for two purposes: to cover the balance of payments deficit (actually to replenish official foreign exchange reserves) and to support macroeconomic stabilization and structural adjustment of the economy (lending to government budget expenditures). As a result of the study, the authors concluded that Ukraine's cooperation with the IMF had several historical stages, characterized by its specificity and peculiarities. Also, cooperation between Ukraine and the International Monetary Fund has both positive and negative points. At the same time, without such cooperation, it is difficult, and often impossible, for Ukraine to maintain its balance of payments, forcing the country to continue working together with this reputable world institution.
В статье осуществлена попытка проследить исторический путь сотрудничества Украины и Международного валютного фонда в период начала 1990-х годов, когда Украина обрела независимость, до современности. Цель деятельности Международного валютного фонда была определена в статье 1 Устава Фонда и заключается в содействии: международному валютному сотрудничеству; расширению и сбалансированному росту международной торговли; стабильности обменного курса, поддержанию надлежащего обмена между участниками; созданию многосторонней системы платежей относительно текущих операций между членами и устранения валютных ограничений, препятствующих росту мировой торговли; сокращению сроков и степени неуравновешенности платежных балансов участников. Главной задачей сотрудничества Украины с Международным валютным фондом является финансовая поддержка и развитие экономики в целом, а также перестройка ее с планово-административного типа на рыночный. К тому же, Украина с 2014 года переживает сложный период в условиях военного конфликта с Российской Федерацией, а также потерей части своих территорий, которые исполняли соответствующую экономическую роль в жизни страны. Международный валютный фонд стал основным донором в такой сложной обстановке.Международный валютный фонд является уникальной организацией в мире по количеству и разнообразию состава стран-членов, сохраняя при этом статус кредитора последней инстанции в случае возникновения финансовых кризисов. Международный валютный фонд предоставляет кредиты в иностранной валюте государствам-членам для двух целей: для покрытия дефицита платежного баланса, (фактически для пополнения официальных валютных резервов) и для поддержания макроэкономической стабилизации и структурной перестройки экономики (кредитование бюджетных расходов правительств). В результате исследования, авторы пришли к выводу, что у сотрудничества Украины с МВФ было несколько исторических этапов, которые характеризуются своей спецификой и особенностями. Также сотрудничество Украины и Международного валютного фонда имеет как положительные, так и отрицательные моменты. Но вместе с тем, без такого сотрудничества Украине трудно, а часто и невозможно, содержать платежный баланс, это побуждает страну продолжать совместную работу с этой важной мировой институцией. Ключевые слова: Международный валютный фонд, Украина, заимствования, сотрудничество, финансовые ресурсы, платежный баланс, кредитные программы.

international monetary fund, ukraine, cooperation, borrowing, financial resources, balance of payments, credit programs, Economic growth, development, planning, HD72-88, Economics as a science, and HB71-74

The article an attempt was made to trace the historical path of cooperation between Ukraine and the International Monetary Fund from the early 1990s, when Ukraine gained independence, to the present. The purpose of the International Monetary Fund's activity has been defined in Article I of the Fund's Statute and is to promote: international monetary cooperation; expansion and balanced growth of international trade;exchange rate stability, maintenance of proper exchange between participants; the creation of a multilateral system of payments for current transactions between members and the elimination of currency restrictions that impede the growth of world trade; reduction of terms and degree of imbalance of participants' balance of payments. The main task of Ukraine's cooperation with the International Monetary Fund is financial support and development of the economy as a whole, as well as its restructuring from a planned administrative type to a market one. In addition, Ukraine has been experiencing a difficult period since 2014 in the context of military conflict with the Russian Federation, as well as the loss of part of its territories that played an appropriate economic role in the country's life. The International Monetary Fund has become a major donor in such a difficult environment.The International Monetary Fund is a unique organization in the world in the number and diversity of member countries, while maintaining the status of a lender of last resort in the event of financial crises.The International Monetary Fund provides foreign currency loans to Member States for two purposes: to cover the balance of payments deficit (actually to replenish official foreign exchange reserves) and to support macroeconomic stabilization and structural adjustment of the economy (lending to government budget expenditures). As a result of the study, the authors concluded that Ukraine's cooperation with the IMF had several historical stages, characterized by its specificity and peculiarities. Also, cooperation between Ukraine and the International Monetary Fund has both positive and negative points. At the same time, without such cooperation, it is difficult, and often impossible, for Ukraine to maintain its balance of payments, forcing the country to continue working together with this reputable world institution.