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This paper exploits the emotional connections and viewer attentiveness of mainstream media to evaluate the economic impact of financial education messages on debt management delivered through a popular television soap opera in South Africa. The study uses a symmetric encouragement design to compare outcomes of individuals who were randomly assigned to watch a soap opera with financial messages, "Scandal!" to those of individuals who were invited to watch a similar soap opera without financial messages, "Muvhango." Both shows overlapped in evening primetime and had similar past viewership profiles. The financial storyline spanned two months and featured one of the leading characters of the show borrowing excessively and irresponsibly through hire-purchase, gambling, and ending up in financial distress; and eventually seeking help to find her way out. Two intermediate and one final follow-up surveys were conducted as part of the study. The analysis finds individuals assigned to watch Scandal had significantly higher financial knowledge of the issues highlighted in the soap opera storyline, in particular messages delivered by the leading character. On behavior, Scandal viewers were almost twice more likely to borrow from formal sources, less likely to engage in gambling, and less prone to enter hire purchase agreements. Messages promoting a national debt mediation helpline delivered by an external character did not sustain traction beyond immediate interest. Three qualitative focus groups highlight the importance of emotional connections with the leading character in motivating behavior change.

Access to Finance --- Banks & Banking Reform --- Debt Management --- Debt Markets --- Encouragement Design --- Finance and Financial Sector Development --- Financial Education --- Financial Literacy --- Population Policies --- Private Sector Development --- Randomized Evaluation

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This paper analyzes the status of public debt management performance in 17 small states through the findings of the Debt Management Performance Assessment reports. Empirical evidence indicates that the higher the quality of a country's policies and institutions, the better is its capacity to carry debt and withstand exogenous shocks. Borrowing for productive purposes can be an important element in boosting growth of gross domestic product but, conversely, excessive borrowing or poorly structured debt in terms of maturity, currency, or interest rate composition can quickly offset the positive impact, deter new foreign and domestic investment, compromise reform programs, depress growth of gross domestic product, exacerbate the challenge of meeting debt service obligations, and may induce or propagate economic crises. Arguments in favor of sound debt management are especially compelling for small states that must mitigate the particular risks to which their economies are exposed. Against this backdrop, the paper identifies aspects of debt management where small states do relatively well and those where they perform poorly, relative to other developing countries, and examines the underlying factors at play. It elaborates on some of the successful measures taken by small states to enhance debt management performance and considers how these may be applied more broadly in other small states. The paper offers a number of practical suggestions to strengthen debt management performance.

Access to Finance --- Debt management --- Debt Markets --- DeMPA --- Emerging Markets --- External Debt --- Finance and Financial Sector Development --- Macroeconomics and Economic Growth --- Poverty Reduction --- Public debt --- Public Sector Economics --- Small states

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La crisis financiera mundial de los últimos años y los consiguientes déficits fiscales fuertes y niveles de deuda elevados que han afectado a muchos países destacan la importancia de las estadísticas públicas fiables y puntuales, y, más en general, de la deuda del sector público como aspecto esencial de la sostenibilidad fiscal y externa de los países. Estadísticas de la deuda del sector público: Guía para compiladores y usuarios es la primera guía internacional de su tipo, y tiene como objetivos principales mejorar la calidad y puntualidad de las estadísticas clave de la deuda y facilitar la convergencia de las prácticas de registro para promover la comparabilidad internacional, y, por otro lado, ser un documento de referencia para los compiladores nacionales y los usuarios en lo que se refiere a la compilación y divulgación de los datos. Al igual que otras guías estadísticas publicadas por el FMI, la presente guía fue preparada en consulta con países e instituciones internacionales, entre ellas las nueve organizaciones del Grupo de tareas interinstitucional sobre estadísticas financieras (GTIEF). La preparación de la guía se basó en la vasta y diversa experiencia de nuestras instituciones y se enriqueció en consultas con compiladores nacionales de estadísticas de finanzas públicas y deuda del sector público. Los conceptos de la Guía están armonizados con los del Sistema de Cuentas Nacionales (2008) y la sexta edición del Manual de Balanza de Pagos y Posición de Inversión Internacional.

Debts, Public --- Business & Economics --- DEBTS, PUBLIC --- BUSINESS & ECONOMICS --- Business enterprises --- Civil service & public sector --- Corporate Finance --- Debt Management --- Debt --- Debts, External --- Exports and Imports --- Finance --- Finance, Public --- Financial Institutions and Services: General --- Financial instruments --- General Financial Markets: General (includes Measurement and Data) --- Government debt management --- International Lending and Debt Problems --- Investment & securities --- Investments: General --- Macroeconomics --- Ownership & organization of enterprises --- Public debt --- Public Enterprises --- Public finance & taxation --- Public Finance --- Public sector --- Public-Private Enterprises --- Securities --- Sovereign Debt --- United States

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This IMF staff report on Belize’s 2013 Article IV Consultation highlights economic developments and macroeconomic outlook. Macroeconomic developments in 2012 were underpinned by robust output growth but clouded by uncertainties surrounding the debt restructuring and growth prospects of major trading partners. New provisioning, and loan classification standards implemented by the central bank at end-2011 have resulted in declining nonperforming loans (NPLs) in the banking system and improving provisioning. NPLs remain high at 20 percent of total loans at end-2012, with heavy concentration in one domestic and some international banks. In compliance with the new prudential measures, banks have been required to write off bad loans within 3–5 years.

Belize --- Balize --- Belice --- Government of Belize --- Wilisi --- Beliz --- Беліз --- Belisa --- Белиз --- Република Белиз --- Republika Beliz --- Commonwealth of Belize --- Μπελίζε --- Belizo --- Belici --- Belis --- Bheilís --- Veleesh --- Beilise --- בליז --- Beliza --- Belizas --- Белизе --- ベリーズ --- Berīzu --- Beles --- Bilisi --- Белізе --- Belizi --- Bhelizi --- Belise --- Belisän --- Beliis --- בעליזע --- בּעליז --- Belėzos --- 伯利兹 --- Bolizi --- British Honduras --- Economic policy. --- Economic conditions. --- Banks and Banking --- Financial Risk Management --- Macroeconomics --- Public Finance --- Industries: Financial Services --- Debt --- Debt Management --- Sovereign Debt --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Taxation, Subsidies, and Revenue: General --- Fiscal Policy --- Investment --- Capital --- Intangible Capital --- Capacity --- Public Enterprises --- Public-Private Enterprises --- Public finance & taxation --- Finance --- Banking --- Education --- Civil service & public sector --- Government debt management --- Public debt --- Debt management --- Loans --- Public financial management (PFM) --- Asset and liability management --- Revenue administration --- Public sector --- Economic sectors --- Debts, Public --- Banks and banking --- Revenue --- Fiscal policy --- Finance, Public

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Program implementation has been satisfactory, and all assessment criteria were met. The fiscal deficit was reduced to 5.9 percent of GDP despite a significant revenue shortfall. Delays were incurred in the implementation of reforms in the energy sector. The authorities intend to accelerate reforms to improve the business environment by streamlining expenditure and by improving the efficiency of the state to reduce the fiscal deficit to below 4 percent of GDP by 2015. This will restore fiscal buffers and ensure long-term debt sustainability.

Monetary policy --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Senegal --- Economic conditions. --- Exports and Imports --- Finance: General --- Investments: General --- Public Finance --- Debt --- Debt Management --- Sovereign Debt --- International Lending and Debt Problems --- National Government Expenditures and Related Policies: General --- Taxation, Subsidies, and Revenue: General --- Investment --- Capital --- Intangible Capital --- Capacity --- National Budget, Deficit, and Debt: General --- Public finance & taxation --- International economics --- Macroeconomics --- Finance --- Budgeting & financial management --- Public debt --- Public financial management (PFM) --- Government debt management --- External debt --- Expenditure --- Debts, Public --- Debts, External --- Finance, Public --- Expenditures, Public --- Revenue