01954cas a2200277 a 4500 AALejournalIMF009098 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451864311 1018-5941 BD-DhAAL BD-DhAAL Tadesse, Helaway. Weathering the Storm So Far : The Impact of the 2003-05 Oil Shock on Low-Income Countries / Helaway Tadesse, Mark Lewis, Jorg Zeuner, James John. Washington, D.C. : International Monetary Fund, 2006. 1 online resource (33 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet John, James. Lewis, Mark. Zeuner, Jorg. IMF Working Papers; Working Paper ; No. 2006/171 Full text available on IMF http://elibrary.imf.org/view/journals/001/2006/171/001.2006.issue-171-en.xml IMF e-Library