02327cas a2200301 a 4500 AALejournalIMF021956 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513596020 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Middle East and Central Asia Dept. Oman : 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Oman. Washington, D.C. : International Monetary Fund, 2021. 1 online resource (93 pages) IMF Staff Country Reports <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 Sultan Haitham ascended to the throne in January 2020 and has committed to implementing strong fiscal and structural reforms to address longstanding vulnerabilities. In addition to persistent fiscal deficits arising from incomplete adjustment to lower oil prices since 2015, Oman faced twin shocks from the COVID-19 pandemic and a collapse in oil prices in 2020 that amplified fiscal and external vulnerabilities. The authorities moved rapidly to contain the spread of COVID-19 infections and provided broad-based policy measures to limit its impact on the economy. In addition, frontloaded fiscal consolidation has been implemented in the 2021 budget as part of the authorities' Medium-Term Fiscal Plan (MTFP) which aims to eliminate the fiscal deficit over the medium term. Banks have high capital buffers and liquidity, but credit risk is a concern going forward. Structural reforms have been accelerated under Oman Vision 2040 to boost non-oil private sector growth and facilitate job creation. Mode of access: Internet International Agreements imf International Organizations imf Monetary Policy imf Observance imf Oman imf IMF Staff Country Reports; Country Report ; No. 2021/206 Full text available on IMF http://elibrary.imf.org/view/journals/002/2021/206/002.2021.issue-206-en.xml IMF e-Library