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This report evaluates the Observance of Standards and Codes on Monetary and Financial Policies Transparency and Fiscal Transparency for France. Up to mid-2001, different rules were applied to insurance firms regulated by the Insurance Code and to establishments regulated by the Code de la Mutualité. Moving toward the consolidation of these rules, a new Code de la Mutualité was ratified by Parliament in July 2001. Now, prudential rules concerning authorizations for new entrants in the insurance business, technical provision, and solvency margins are the same for all companies in the sector.

Budgeting --- Insurance --- National Budget --- Budget Systems --- Insurance Companies --- Actuarial Studies --- Budgeting & financial management --- Insurance & actuarial studies --- Fiscal transparency --- Budget planning and preparation --- Financial institutions --- Public financial management (PFM) --- Budget --- France

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This paper focuses on the macroeconomic aspects of fiscal management in aid-receiving countries. Despite the declining share of aid in budgets of donor countries, aid continues to play an important role in many developing countries. The paper first discusses the implications of aid in the economy as a whole and highlights the possibility of Dutch-disease effects of aid. Second, it discusses the implications of aid for short-term fiscal policy management?in particular, how actual or anticipated changes in aid receipts should be reflected in government spending.

Foreign Exchange --- Macroeconomics --- Public Finance --- Foreign Aid --- Fiscal and Monetary Policy in Development --- Fiscal Policy --- Taxation, Subsidies, and Revenue: General --- National Government Expenditures and Related Policies: General --- Macroeconomics: Consumption --- Saving --- Wealth --- Public finance & taxation --- Currency --- Foreign exchange --- Fiscal policy --- Revenue administration --- Expenditure --- Consumption --- Real exchange rates --- National accounts --- Public financial management (PFM) --- Revenue --- Expenditures, Public --- Economics --- Finance, Public --- Uganda

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Insufficient resources and inadequate public expenditure management often prevent governments in low-income countries from providing quality basic education free of charge. User payments by parents are an alternative means of financing basic education. This paper assesses how user payments affect educational opportunities and quality of education for children of poor families in low-income countries. Conditions are identified under which user payments can or cannot improve educational outcomes. User payments, whether taking the form of compulsory benefit taxation or voluntary user fees, are a temporary solution and second-best compared with free-access, publicly financed quality education that is consistent with macroeconomic stability.

Public Finance --- Gender Studies --- National Government Expenditures and Education --- Educational Finance --- Education: General --- National Government Expenditures and Related Policies: General --- Economics of Gender --- Non-labor Discrimination --- Education --- Public finance & taxation --- Social discrimination & equal treatment --- Expenditure --- Education spending --- Gender inequality --- Public financial management (PFM) --- Gender --- Expenditures, Public --- Sex discrimination --- Finance, Public --- Malawi

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The internal audit function has received increasing attention as an important component of government financial management and a tool for improving the performance of the government sector. Recently, a consensus has been reached on what audit standards governments should meet. This paper reviews these standards from an international perspective, noting that a large number of countries would face severe problems of meeting such standards. It is argued that internationally there are many different models for internal audit, and it may be necessary to take into account different audit traditions and different institutional capacities when introducing measures to strengthen internal audit in developing and transitional countries. The paper then discusses the main issues to be addressed in developing the internal audit in such countries, and offers a framework for introducing much needed reforms in this area.

Public Finance --- Public Administration --- Public Sector Accounting and Audits --- Auditing --- Taxation, Subsidies, and Revenue: General --- Management accounting & bookkeeping --- Public finance & taxation --- External audit --- Internal audit --- Internal controls --- Audit standards and procedures --- Public financial management (PFM) --- Revenue administration --- Auditing, Internal --- Revenue --- United Kingdom

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Since 1947, hyperinflations (by Cagan’s definition) in market economies have been rare. Much more common have been longer inflationary processes with inflation rates above 100 percent per annum. Based on a sample of 133 countries, and using the 100 percent threshold as the basis for a definition of very high inflation episodes, this paper examines the main characteristics of such inflations. Among other things, we find that (i) close to 20 percent of countries have experienced inflation above 100 percent per annum; (ii) higher inflation tends to be more unstable; (iii) in high-inflation countries, the relationship between the fiscal balance and seigniorage is strong both in the short and longrun’s; (iv) inflation inertia decreases as average inflation rises; (v) high-inflation is associated with poor macroeconomic performance; and (vi) stabilizations from high inflation that rely on the exchange rate as the nominal anchor are expansionary.

Inflation --- Macroeconomics --- Public Finance --- Open Economy Macroeconomics --- Comparative or Joint Analysis of Fiscal and Monetary Policy --- Stabilization --- Treasury Policy --- Price Level --- Deflation --- Fiscal Policy --- Debt --- Debt Management --- Sovereign Debt --- Macroeconomics: Consumption --- Saving --- Wealth --- Public finance & taxation --- Fiscal stance --- Hyperinflation --- Government debt management --- Consumption --- Prices --- Fiscal policy --- National accounts --- Public financial management (PFM) --- Debts, Public --- Economics --- Congo, Democratic Republic of the