International Monetary Fund. External Relations Dept.
This paper highlights that 1976 was an important year for the IMF. With the end of 1976, the IMF closed its books on a year of virtually unprecedented activity. It launched the New Year with a US$3.9 billion stand-by arrangement for the United Kingdom, the largest ever made for a member country. The outlook at the beginning of 1977 suggests another busy year ahead for the IMF. The proposed second amendment to the IMF’s Articles of Agreement and the increase in members’ quotas are expected to go into effect before the end of the year.
When Pakistan became an independent country a serious obstacle to rapid industrialization was an almost complete lack of industrial accountants. The author tells how a small group of men set out to create—with valuable aid from Canada—a new profession.
International Monetary Fund. External Relations Dept.
This paper examines the importance of national planning for economic development of a country. The paper highlights that when World War II began, Soviet Russia was the only country engaged in systematic development planning, and then only since 1929, when its First Five-Year Plan was approved. At the end of the War, Asian countries that either had, or were about to, become independent, embraced planning to a much greater extent than countries in any other region.
The Afghanistan National Development Strategy (ANDS) is Afghanistan’s Poverty Reduction Strategy Paper (PRSP). Implementation of the ANDS is highly dependent on donor assistance. The main general objectives of the ANDS are to improve the quality of life of Afghan people and to reduce poverty. ANDS will play a key role in improving aid coordination and aid effectiveness. The first draft of the ANDS chapter on implementation, monitoring and evaluation and the policy paper on how to improve aid coordination and aid effectiveness has been prepared.
This volume discusses the Poverty Reduction Strategy (GPRS I) and the Growth and Poverty Reduction Strategy (GPRS II) that addressed the critical poverty issues in Ghana. GPRS I is a comprehensive policy document prepared as a precondition for Ghana under the Highly Indebted Poor Country (HIPC) Initiative. The main component—human development—targets improvement for Ghana’s population to access basic needs and essential services. A general assessment shows that Ghana has a positive and significantly stabilized macroeconomic environment.
International Monetary Fund. Middle East and Central Asia Dept.
This Poverty Reduction Strategy Paper on Kyrgyz Republic highlights that the period 2009 through filled with symbolic events marked a new milestone in the Kyrgyz Republic development and will enter the country’s history as the period of strength test for the Kyrgyz statehood and entire public administration system including socio-political, economic, environmental, financial and other areas of development management. The country development background during that period included the world financial crisis and growing uncertainty on world markets which created risks for all market actors including the Kyrgyzstan’s key trade partners such as Russia, Kazakhstan, and China. The government officially declared the country’s sustainable development-oriented policy. For Kyrgyzstan as a country with its still high poverty level, particularly in rural areas, and limited natural and financial resources, the sustainable development policy seems today’s logically and politically justified choice. The sustainable development model itself suggests striving for systemic, comprehensiveness, and balance in development. Transition to sustainable development suggests considering economic growth through the prism of human values and reasonable use of natural resources.
International Monetary Fund. Asia and Pacific Dept
Executive Directors commend Bangladesh in addressing the major challenges to growth and poverty reduction. The strategy is comprehensive and confronts the key issues impeding sustainable development and inclusive growth in Bangladesh. Implementing sound macro-financial policies, intensifying revenue mobilization, improving the business environment, ensuring trade liberalization, and improving governance and accountability are top priorities. Actions should be sequenced according to these priorities. Severe external shocks could reignite macroeconomic pressures and undermine socioeconomic targets.
This Economic development Document presents an overview of Malawi’s Development Plan. Disappointing results with respect to implementation of Malawi Growth and Development Strategy II have triggered a qualified rethink in Malawi’s development planning process. There is a growing recognition that Malawi needs a more realistic development plan, in terms of both the underlying assumptions and resource availability, as well as with fewer priorities and a greater emphasis on implementation. Climate change has also become a major new factor in this process. The recent formation of a quasi-independent National Development and Planning Commission is expected to help in improving the independence of the planning process in Malawi.
This Economic Development Document highlights the Moldova 2020 National Development Strategy focus on producing a social and economic impact on various development priorities. Poverty reduction has progressed significantly during the past eight years: the national poverty rate decreased from 26.4 percent in 2008 to 9.6 percent in 2015. Remittances by emigrants and higher agricultural income, salaries, and social benefits were the major drivers of poverty reduction. The means-tested social assistance program had a significant impact. This social aid has proved to be the most efficient social protection against poverty; however, social support programs that are not means tested are ineffective.