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International Monetary Fund

still a large presence of ex-officio directors on SOE boards. Indeed, of the 270 positions available on SOE boards, 121 are currently held by public servants. Total board positions have recently been reduced to improve compliance with legislation. D. Status of Reform Program 11. Samoa’s SOE reform program has slowed in recent years . For example, the Agricultural Stores Corporation was removed from the privatization pipeline after it had received initial privatization preparation support, and there have been delays with the sale of Samoa Shipping Services

Yasheng Huang, David Woodward, Jack Hollander, Lester Brown, Orazio Attanasio, Miguel Szekely, David M. Andrews, C. Randall Henning, and Louis W. Pauly

discrimination promotes incentives for overseas Chinese to make foreign investments through “round tripping.” Through weak market institutions that do not provide a bona fide system of checks and balances, SOE reforms have led to asset stripping, opportunistic behavior, and a misallocation of resources. In effect, China’s SOE reform program has allowed for the privatization of assets and the socialization of liabilities. Previous analysts have puzzled over China’s ability to attract large amounts of FDI despite the lack of a strong tradition for abiding by the rule of law

International Monetary Fund
This Selected Issues paper reviews public service reform in Ghana. The paper highlights that a range of public service reform initiatives have been undertaken in Ghana since the early 1980s. The public service in Ghana is composed of centrally managed agencies, ministries, subvented agencies, district assemblies, and state enterprises. The civil service, which covers the centrally managed agencies, ministries, and local government, accounts for only about 20 percent of total public sector employment as a result of the spin-off in the 1980s of the internal revenue, customs, education, and health services as subvented agencies.
International Monetary Fund

. Norregaard (FAD) Approved by the Asia and Pacific Department June 16, 1997 Contents I. State-Owned Enterprise (SOE) Development and Reform A. Introduction B. Role of SOEs in the Chinese Economy C. Economic Performance of State Enterprises D. SOE Reform Programs and Policies E. Introduction of Corporate Governance Mechanisms F. Hardening of Enterprises’ Budget Constraints G. Divesting Enterprises of Social Welfare Burdens H. Recapitalization of Enterprise Debt I. Revitalizing Larger Enterprises J. Changes in Enterprise Ownership K

International Monetary Fund

-owned enterprise (SOE) reform program for equitization, divestiture, and liquidation, covering 10 percent of SOE debt. III. Trade reform Adopt and announce a program, with annual targets for phasing out quantitative restrictions, on a multilateral basis, on six items (cement and clinker, remaining steel products, construction white glass, paper, vegetable oil, and granite tiles and ceramic tiles) during 2001–03. Free foreign trading rights for business-registered domestic firms, by allowing them to import all kinds of goods except banned and conditional

International Monetary Fund. African Dept.

An updated DSA indicates that The Gambia is in external debt distress, though its public debt is deemed sustainable on a forward-looking basis. The external debt service-to-exports and -to-revenue ratios breach their indicative thresholds by large margins in the near term and signal major liquidity pressures. However, once these pressures are addressed by the prospective debt relief and the authorities’ fiscal consolidation and state-owned enterprise (SOE) reform program, the PV of total public debt would be brought below its threshold over the medium term. On the

International Monetary Fund. African Dept.

reforms program had to be delayed because of the health crisis. Considering the constraints generated by the pandemic and retrenchment among potential investors, as well as the objective to maximize revenues, the authorities have rescheduled privatizations originally planned for 2020. The authorities remain attentive to market conditions and expect to resume the program as soon as possible. Conclusion: Cabo Verde Continues to Count on International Support in this Time of Need 16. The COVID-19 pandemic has exposed Cabo Verde’s vulnerabilities to plunges in

International Monetary Fund

the SOE reform program tapered off. The process of equitization (the conversion of SOEs into joint stock companies) was launched in mid-1992, but by end 1997 only 17 enterprises were equitized. This slow pace reflected the weakened pressure for reforms, especially with large inflows of foreign direct investment; concerns of workers and management about their jobs; concerns of local governments over losing revenue sources; and the lack of a well articulated framework for equitization and valuation. Developments in 1998 and early 1999 14. In early 1998, as a

International Monetary Fund

responsible for implementing the SOE reform program, whose objectives are developing the capacity of the SEC to monitor and evaluate the performance of the SOEs, including by improving the data base; strengthening the operation of the SEC’s performance contract system; building capacity within the Ministry of Finance and the SEC to coordinate the implementation of the program and to manage the government’s portfolio of equity investments, loans, and guarantees; and preparing selected SOEs for divestiture as well as building capacity within the Divestiture Implementation

International Monetary Fund

. Construct the legal framework to allow for establishing business associations. Construct and approve the Electricity Law. 2. Reform state-owned enterprises (SOEs) to strengthen their efficiency and competitiveness. Implement a medium term five - year SOE reform program during the 2001-2005 period, with annual targets to improve efficiency and to curtail losses in this sector. Complete the equitization, transfer to employees, sale, contracting out, leases, mergers, divestitures and liquidation of around 2,800 SOEs. Of which, complete equitization, sale and