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International Monetary Fund
The impact of the 2009 tsunami on tourism and on the Samoan economy is likely to be substantial. The effectiveness of monetary transmission in Samoa has improved over time; however, it is still below international standards. The adverse impact of the crisis on the functioning of the banking system may be alleviated by an improvement in the financial infrastructure. State-owned enterprises (SOE) continue to play an important role in Samoa, and the key to successful SOE reform in Samoa will be placing them on a fully commercial footing.
International Monetary Fund

restructuring and privatization of government enterprises that are not covered by the SOE law. In this latter regard, they are actively examining options on how to deal with the national airline Ariana in a way that would safeguard public finances as well as state-owned banks against drains or contingent liabilities that could result from Ariana's dire financial condition. The authorities aim at obtaining Cabinet approval of this package by end-March 2008, as indicated in the MEFP. With continued donor support and debt relief and, in the absence of further deterioration in

International Monetary Fund. European Dept.

sector more competitive and managing incentives for providers and patients. A window of opportunity for structural reforms is opening and should be vigorously pursued . With CCB now resolved and the next Parliamentary elections scheduled only in 2021, the authorities are pursuing some long-delayed structural reforms, including judiciary and local government reforms, and the introduction of a national health insurance system. However, there has been little progress on some important reforms, such as the SOE law, privatizations, and broader civil service reforms

International Monetary Fund

SOEs have been transformed since September 2001 with another 100 transformations awaiting approval). A draft SOE law, to replace the 1995 SOE law, is now under consideration, which could provide a vehicle for clarifying the objectives of SOEs (profit maximization, other socioeconomic objectives), the procedure for establishing new SOEs, and appropriate management structures. E. Conclusion 94. The government’s strategy for managing the SOE sector is to equitize smaller ‘non-strategic’ enterprises and move towards more autonomous decision-making and enhanced

International Monetary Fund. African Dept.

increasing budgetary allocation towards renewable infrastructure and bringing on stream a solar plant by 2021. This notwithstanding, donor support would be essential to increase the production of renewable energy. In addition, the authorities are working with the UNDP and the Green Climate Fund to strengthen internal capacities and resilience to climate change. 16. To contain fiscal risks and improve the operational efficiency and viability of SOEs, the authorities are improving the overarching legal and regulatory framework. In this vein, an SOE law has been drafted

Uwe Böwer

holding company under Min. of Development but also other govt. bodies Inter-ministerial council established to oversee holding company and SOE management Qualification requirements for supervisory boards Public and independent representatives but no explicit policy preference Remuneration limits in relation to minimum wage Latvia New SOE law Rationales for ownership: market failure, natural monopoly, strategic sectors Initial ambition for central holding structure watered down Coordination institution

International Monetary Fund. African Dept.

. The authorities are also in discussions with the United Nations to open an agency in Angola to fight drugs, crimes, corruption and terrorism. At the same time, they are working on revisions to the SOE law to enhance internal controls and governance. Furthermore, to enhance the transparency of public procurement, budget units started to publish their annual purchase plan on the Public Purchase’s Portal within the National Service for Public Procurement. VI. Conclusion 22. The authorities remain firmly committed to their reform agenda aimed at restoring

International Monetary Fund. Middle East and Central Asia Dept.

the gas sector are also progressing well; the July 2019 tariff adjustment eliminated the flow of gas sector arrears and tariffs will be further adjusted by end-December. SOE Reform SOE reform aimed at improving governance, transparency and efficiency is progressing along a number of fronts: (i) international auditors are expected to complete and publish the 2018 audits of Pakistan Steel Mills and Pakistan International Airlines by end-December 2019; (ii) a new SOE law is in the workstream with IMF technical support; and (iii) a triage of SOEs to decide on