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We study how 22 donors allocate their bilateral aid among 147 recipient countries over the 1970- 2004 period to investigate whether changes in the international aid architecture?at the international and country level?have led to changes in behavior. We find that after the fall of the Berlin wall, and especially in the late nineties, bilateral aid responds more to economic need and the quality of a recipient country's policy and institutional environment and less to debt, size, and colonial linkages. Importantly, we find that when a country uses a PRSP and passes the HIPC decision point the perverse effect of large bilateral and multilateral debt shares on aid flows is reduced, suggesting less defensive lending. Overall, it appears international aid architecture changes have led to more selectivity in aid allocations. The specific factors causing these changes remain unclear, however. Furthermore, there remain large differences among donors in selectivity that appear to relate to donors' own institutional environments. Together this suggests that further reforms will have to be multifaceted.

Exports and Imports --- Financial Risk Management --- Foreign Aid --- Debt --- Debt Management --- Sovereign Debt --- International Lending and Debt Problems --- International economics --- Finance --- Aid flows --- Foreign aid --- Public and publicly-guaranteed external debt --- Debt reduction --- Debt relief --- Economic assistance --- International relief --- Debts, External --- United States --- Economic development --- Poverty --- Econometric models.

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This paper discusses the progress made by Burundi under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative. Burundi has made satisfactory progress in achieving the completion point triggers. It has fully implemented the triggers on preparing and implementing a Poverty Reduction Strategy Paper (PRSP) and maintaining a stable macroeconomic environment. The paper recommends that the Executive Directors of the International Development Association (IDA) and the IMF approve the completion point for Burundi under the enhanced HIPC Initiative.

Exports and Imports --- Financial Risk Management --- Investments: Stocks --- Debt --- Debt Management --- Sovereign Debt --- International Lending and Debt Problems --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Finance --- International economics --- Investment & securities --- Debt relief --- Debt service --- External debt --- Stocks --- Public and publicly-guaranteed external debt --- Asset and liability management --- Financial institutions --- Debts, External --- Burundi

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This Selected Issues paper and Statistical Appendix for the Lao People’s Democratic Republic underlies debt sustainability analysis. Sensitivity analysis reveals that if the pace of economic reforms falters, the debt burden—high even in the baseline case—could become unsustainable. The low level of development and the high share of the subsistence agricultural sector limit the revenue collection capacity. Weak technical capacity and highly fragmented revenue administration are the main structural weaknesses affecting revenue performance.

Exports and Imports --- Public Finance --- Debt --- Debt Management --- Sovereign Debt --- International Lending and Debt Problems --- Taxation, Subsidies, and Revenue: General --- National Government Expenditures and Related Policies: General --- Public finance & taxation --- International economics --- Public debt --- Revenue administration --- Debt service --- Public and publicly-guaranteed external debt --- Expenditure --- External debt --- Debts, Public --- Revenue --- Debts, External --- Expenditures, Public --- Lao People's Democratic Republic

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La dernière revue du programme 2010-2014 au titre de l’instrument de soutien à la politique économique (ISPE) a été achevée en décembre 2014. Les autorités ont sollicité un autre ISPE pour 2015-2017. Les résultats des deux précédents ISPE ont été contrastés. Si la viabilité des finances publiques et de la dette ont été globalement acquis, les résultats sur le plan de la croissance et de la réduction de la pauvreté ont été moins favorables que ce qui avait été initialement programmé en raison des retards dans la mise en œuvre des réformes structurelles.

Budget planning and preparation --- Budget Systems --- Budget --- Budgeting & financial management --- Budgeting --- Debt Management --- Debt --- Debts, External --- Debts, Public --- Exports and Imports --- External debt --- Finance, Public --- Fiscal Policy --- Fiscal policy --- International economics --- International Lending and Debt Problems --- Macroeconomics --- National Budget --- National Government Expenditures and Related Policies: General --- Public and publicly-guaranteed external debt --- Public debt --- Public finance & taxation --- Public Finance --- Sovereign Debt --- Senegal

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This paper on Cameroon’s Enhanced Heavily Indebted Poor Countries (HIPC) Initiative explains implementation of the poverty reduction strategy and macroeconomic performance. Executive Directors agreed that Cameroon’s external public debt was above the HIPC Initiative sustainability threshold, and the country was eligible for assistance in the amount of US$1.26 billion in 1999. Assuming prudent fiscal policies and robust non-oil real GDP growth, Cameroon’s external public debt is expected to be sustainable over the long term.

Budgeting --- Exports and Imports --- Financial Risk Management --- Investments: Stocks --- Debt --- Debt Management --- Sovereign Debt --- International Lending and Debt Problems --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- National Budget --- Budget Systems --- Finance --- International economics --- Investment & securities --- Budgeting & financial management --- Debt relief --- Debt service --- Public and publicly-guaranteed external debt --- Stocks --- Budget planning and preparation --- Asset and liability management --- External debt --- Financial institutions --- Public financial management (PFM) --- Debts, External --- Budget --- Cameroon