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The Design of Fiscal Adjustment Strategies in Botswana, Lesotho, Namibia, and Swaziland

Author

Listed:
  • Luis-Felipe Zanna
  • Olivier Basdevant
  • Susan S. Yang
  • Genevieve Verdier
  • Joannes Mongardini
  • Borislava Mircheva
  • Dalmacio Benicio

Abstract

Botswana, Lesotho, Namibia, and Swaziland face the serious challenge of adjusting not only to lower Southern Africa Customs Union (SACU) transfers because of the global economic crisis, but also to a potential further decline over the medium term. This paper assesses options for the design of the needed fiscal consolidation. The choice among these options should be driven by (i) the impact on growth and (ii) the specificities of each country. Overall, a focus on government consumption cuts appears to minimize the negative impact on growth, and would be appropriate given the relatively large size of the public sector in each country.

Suggested Citation

  • Luis-Felipe Zanna & Olivier Basdevant & Susan S. Yang & Genevieve Verdier & Joannes Mongardini & Borislava Mircheva & Dalmacio Benicio, 2011. "The Design of Fiscal Adjustment Strategies in Botswana, Lesotho, Namibia, and Swaziland," IMF Working Papers 11/266, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:11/266
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    References listed on IDEAS

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    1. repec:dau:papers:123456789/5253 is not listed on IDEAS
    2. Christophe Hurlin & Florence Arestoff, 2010. "Are Public Investment Efficient in Creating Capital Stocks in Developing Countries?," Economics Bulletin, AccessEcon, vol. 30(4), pages 3177-3187.
    3. Ilzetzki, Ethan & Mendoza, Enrique G. & Végh, Carlos A., 2013. "How big (small?) are fiscal multipliers?," Journal of Monetary Economics, Elsevier, vol. 60(2), pages 239-254.
    4. Alexander Plekhanov & Manmohan S. Kumar & Daniel Leigh, 2007. "Fiscal Adjustments; Determinants and Macroeconomic Consequences," IMF Working Papers 07/178, International Monetary Fund.
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    Cited by:

    1. Giovanni Ganelli & Juha Tervala, 2015. "Tariff-tax Reforms in Large Economies," The World Economy, Wiley Blackwell, vol. 38(12), pages 1990-2012, December.
    2. Olivier Basdevant, 2012. "Fiscal Policies and Rules in the Face of Revenue Volatility within Southern Africa Customs Union Countries (SACU)," IMF Working Papers 12/93, International Monetary Fund.

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