Listing 1 - 10 of 42 | << page >> |
Sort by
|
Choose an application
The objective of this note is to provide guidance for countries on how to organize a public debt management back office most effectively. It describes the core processes that should be performed by that unit that is ultimately responsible for recording, monitoring, and reporting on public debt. It also highlights their involvement in the execution and settlement process. These are the basic functions of a debt management office, and evidence shows that many countries could benefit from improvements in this area. Proper debt recording and monitoring are the essential first step to developing good quality data; these form the basis for quantitative analysis, provide support for debt operations and facilitate effective policy decisions. Focusing on the main debt instruments that are used by low income countries, the note describes each process individually and highlights their interdependence. The main conclusion is that debt managers should organize themselves around the processes not products, and they should gather information to create a dataset to support debt management activities. Sound reporting is important for risk assessment and monitoring of a sovereign, and for the development and execution of debt strategies.
Choose an application
The Public Expenditure and Financial Accountability (PEFA) Program provides a framework for assessing and reporting on the strengths and weaknesses of public financial management (PFM) using quantitative indicators to measure performance. PEFA is a tool that helps governments achieve sustainable improvements in PFM practices. It does so by providing a means to measure and monitor performance against a set of indicators across the entire range of public financial management institutions, systems, and processes. The assessment provides the management of the Greater Amman Municipality (GAM) with an indicator-led assessment of the operation of the city's PFM systems. This assessment focuses on GAM's PFM system, according to Government Finance Statistics (GFS) from 2014. It includes cross-cutting and overall issues, revenue issues, and the budget cycle from planning through execution to control, reporting and audit. A number of indicators are designed to probe the interaction between the GAM and public service providers at the local level, including the use of extra budgetary funds. Therefore, this assessment covers the general government as applied to the GAM, including all districts and GAM-controlled funds which are accounted for separately outside of the budget.
Choose an application
Drawing on the results of recent state-level debt management performance assessments (SN DeMPAs) in seven Nigerian states and the Federal Capital Territory, the paper highlights key institutional and capacity challenges in state debt management in the context of the Nigerian fiscal federalism system. It also provides a comparison of subnational debt management practices of selected Nigerian and Indian states. The analysis highlights the important role of the central government in the successful implementation of subnational debt management functions within fiscally decentralized system, in particular by: (i) establishing a sound legal framework for subnational borrowing and defining key parameters for state indebtedness; (ii) establishing, standardizing, and monitoring state-level debt-management procedures, systems, and institutions; and (iii) building the capacity of subnational authorities along the entire cycle of debt management, including for debt management strategy formulation, borrowing plans, debt contracting, recording and reporting. While this paper focuses on state-level debt management in Nigeria, it is designed to contribute to the ongoing dialogue on international sound practices for subnational debt management and implementation of fiscal decentralization in developing countries.
Choose an application
The report aims to explore and analyze the major gaps in financial inclusion and access to finance in Romania, as identified in the Technical Note on Financial Intermediation prepared in the context of the Financial Sector Assessment Program (FSAP) (2018). The FSAP technical note analyzed the factors at play explaining the relatively low and declining level of financial intermediation in Romania for both the household and the corporate segment and offered policy recommendations to support sustainable enhancement of financial intermediation. The report is organized as follows: chapter one conducts a geo-spatial mapping of financial inclusion and access to finance for both individuals and enterprises. Chapter two is a diagnostic assessment of the state of finance for agriculture and identifies constraints and potential opportunities. Chapter three provides an overview of the role of the cooperative financial institutions in financial inclusion especially in rural areas and recommendations how this may be enhanced.
Choose an application
Agriculture remains economically and socially important in Vietnam despite agriculture's declining share of gross domestic product (GDP). The share of primary agricultural activity in the GDP has fallen to 13 percent, compared with more than 30 percent two decades ago. The active labor force in agriculture remains as high as 45 percent. Chapter one presents an overview of the agriculture and financial sectors. Chapter two presents an analysis of farmers` financial access and use of financial services. Chapter three discusses key trends in agriculture credit and agriculture insurance markets. Chapter four discusses the key institutions and instruments of public sector support for agriculture finance. Chapter five identifies key challenges that are constraining the growth of agriculture finance, and lastly, chapter six identifies major opportunity areas and makes key recommendations to capitalize on the identified opportunities.
Choose an application
The national economy of Vietnam was affected by the April 2020 lockdown meant to contain the domestic spread of the COVID-19 (coronavirus) virus and subsequent outbreaks in Da Nang and Ho Chi Minh City. Nevertheless, the economy showed exceptional resilience. Gross domestic product (GDP) grew by an estimated 2.9 percent in 2020, one of the few economies in the world that grew during the pandemic. At the sectoral level, the services sector, especially the tourism-related subsectors, have borne the brunt of the COVID-19 crisis, with accommodation and catering services dropping by about 15.0 percent in 2020 compared to 2019, while the number of foreign visitors in 2020 was only 21 percent of the number a year ago.
Choose an application
Managing government debt guarantees is difficult because the potential costs of guarantees are hard to estimate and typically do not show up in the reported budget deficit. A good framework for managing guarantees can, however, help governments overcome the difficulty and enhance the transparency of guarantees. This paper sets out a checklist of issues for a government to consider when designing or revisiting its framework for managing guarantees. The checklist comprises: (1) steps to establish macroeconomic control over guarantees by setting limits on their use and restricting the authorization to grant them; (2) steps to improve decisions to grant individual guarantees by means of guidelines, restrictions, conditions, cost estimation, guarantees fees, and a structured process for making the decisions; and (3) steps to ensure careful management after the granting of guarantees, including the recording and reporting of guarantees, arrangements to pay when necessary, and learning from past experience.
Debt Management --- Debt Markets --- Finance and Financial Sector Development --- Governance --- Public and Municipal Finance --- Public Sector Development
Choose an application
This report represents a series of studies on the status of the implementation of the International Public Sector Accounting Standards in the Latin America region. The first report of this series, Public Sector Accounting and Financial Information in Latin America, was developed by the World Bank team and issued in April 2015. The general purpose of this second report is to document the status of the management, control, and recording of fixed assets in the countries surveyed, and to propose a comprehensive asset management model to strengthen the region's public financial management systems in terms of public sector accounting, public investment, transparency, and accountability. The report aims to address the following asset management challenges: (a) accounting methodologies that have been adopted or implemented in the surveyed countries do not necessarily capture all government fixed assets; (b) incomplete or unreliable information on infrastructure assets and projects and other fixed assets, as well as on the provisions related to their upkeep and replacement, creates obstacles to improving public investment policies and enhancing the region's ability to promote productivity and competitiveness; (c) greater control of fixed assets is directly related to the improvement of transparency and accountability indexes; and (d) governments' inability to obtain an objective picture of their financial position and performance limits the quality of analysis on the efficient use of public resources related to electoral commitments, fiscal stability, and economic growth in the medium and long term.
Choose an application
What are the key success factors for the agriculture credit guarantee schemes (CGS)? Are there any design features and interventions to minimize the risk? This paper tries to draw some lessons learned specific to agriculture CGSs based on some case studies in developing countries, and aims to provide useful insights for future interventions, including World Bank projects. These lessons learned focus on risk management and operational features of the CGSs serving the agriculture sector.
Choose an application
Implicit contingent liabilities, such as those generated by natural disasters, are often not quantified in the government balance sheet. However, when they materialize, they place pressure on government finances that may raise interest expenditures and financial risks. Understanding the impacts of disaster risk on sovereign assets and liabilities plays a key part in understanding the potential impact of sovereign disaster risk finance strategies which allow governments to reduce the costs and risks of disasters using prearranged financing and insurance methods. Applying the Sovereign Asset and Liability Management (SALM) framework is a new and comprehensive way of looking at the potential impact of a disaster on the public sector balance sheet through assets and liabilities. This paper introduces a framework that identifies three channels through which natural disaster will impact SALM. This framework is applied in three case studies, Peru, Serbia and New Zealand to derive lessons about the potential impact of natural disasters on the sovereign balance sheet and highlight the importance of accounting for disaster impacts across public sector balance sheets. The application of SALM can increase countries' resilience to financial shocks posed by disaster risk through improved understanding of the impacts of disaster risk on both sides of the sovereign balance sheet. Going forward it could even be used to define a country's risk tolerance to disaster risk, monitor changes in this position and help to inform policy design on disaster risk and where needed support the introduction of financial instruments to manage disaster risk.
Conflict and Development --- Disaster Management --- Environment --- Finance and Development --- Finance and Financial Sector Development --- Natural Disasters --- Public and Municipal Finance --- Public Finance --- Public Sector Development --- Sovereign Debt
Listing 1 - 10 of 42 | << page >> |
Sort by
|