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Business and Economics > Budgeting

You are looking at 1 - 7 of 7 items for :

  • Type: Journal Issue x
  • IMF Policy Discussion Papers x
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Cover IMF Policy Discussion Papers
Challenges in Expanding Development Assistance
Mr. Peter S. Heller
and
Mr. Sanjeev Gupta
This paper highlights the macro and microeconomic challenges associated with success of the effort to mobilize 0.7 percent of GNP for official development assistance (ODA). To promote achievement of the Millennium Development Goals, enhanced ODA must be as productive as possible. In weighing the distribution of enhanced ODA among countries, the paper emphasizes the need to limit potentially adverse “real transfer effects.” It recommends a multi-pronged approach to ODA that includes, inter alia, in addition to direct bilateral transfers, enhanced use of trust funds and the financing of global public goods.
Keywords:
PDP; recipient country; country partnership; donor country; low income; transition country; ODA; poverty; absorptive capacity; international public goods; country market; distributional criterion; public goods; commitments of the European Union; countries of the world; Personal income; Real exchange rates; Extra-budgetary funds; Global
Cover IMF Policy Discussion Papers
Public Financial Management: Principal Issues in Small Pacific Island Countries
Mr. Klaus-Walter Riechel
The paper discusses reform in public financial management in small, resource-constrained economies such as the Pacific island countries (PICs). It describes the efforts undertaken by PICs in the past and assesses their results. A principal conclusion is that reform in public financial management needs to be defined against the capacity of countries to sustain it at the national level. This requires a careful definition of priorities for action and the determination of appropriate pacing and sequencing of reform. In this decision, achievement of the imperatives of expenditure control and sustainability of deficits is typically more important than exploitation of the scope for efficiency gains promised by "cutting edge" public financial management systems.
Keywords:
PDP; management; a number of management mechanism; reform strategy; accounting; cash management; country; public finance; Fiscal policy; budget systems; public financial management; small country issues; budget system; accounting methodology; forum country; economic reform; development budget; Budget planning and preparation; Accrual accounting; Pacific Islands; Australia and New Zealand
Cover IMF Policy Discussion Papers
Reviewing Some Early Poverty Reduction Strategy Papers in Africa
Ms. Caroline M Kende-Robb
and
Mrs. Alison M Scott
This paper reviews some early interim and full PRSPs for countries with which the authors worked during 1999-2000 (Uganda, Burkina Faso, Tanzania, Mozambique, Mali and The Gambia). The purpose of the review is to compare and contrast how the PRSP process was established there. It finds that rapid progress was made in implementing the initiative in all the countries, increasing commitment to poverty reduction amongst government and donors and encouraging broader participation in the policy dialogue. However, there was considerable variation between the cases, reflecting different local contexts and capacities.
Keywords:
PDP; The PRSP; government; poverty analysis; PRSP; poverty; Africa; PRSP document; government program; PRSP process; poverty outcome; poverty impact; full PRSPs; poverty monitoring; B. country participation experience; commitment to poverty reduction; government process; routine poverty analysis; Poverty reduction strategy; Budget planning and preparation; Poverty reduction; Poverty reduction and development
Cover IMF Policy Discussion Papers
Would Saving U.S. Social Security Raise National Saving?
Mr. Jan Walliser
Analysts agree that raising national saving is one of the key objectives of social security reform in the United States. Hence, to judge the merits of proposals requires a comparison of saving responses. The paper outlines the difficulties involved in making those comparisons, which arise from the unsustainability of the current social security system and the uncertainty regarding the use of projected budget surpluses. Building on previously developed arguments, it discusses three typical reform plans and also draws some conclusions about the relationship between social security reform and the long-run sustainability of fiscal policy.
Keywords:
PDP; surplus; budget surplus; budget; revenue; National saving; Social Security; United States; government activity; surplus money; on-budget balance; surpluses in the Trust Funds; Extra-budgetary funds; Private savings; Securities; Payroll tax; Budget planning and preparation
Cover IMF Policy Discussion Papers
External Borrowing in the Baltics, Russia, and Other States of the Former Soviet Union: The Transition to a Market Economy
Mr. John C. Odling-Smee
and
Mr. Basil B. Zavoiceo
The external debt of many countries of the Baltics, Russia, and the former Soviet Union has been growing rapidly in recent years and has played an important part in the transition process. However, it is vital to strike a balance between financing transition and ensuring that the external debt is not used to finance wasteful expenditures or delay the transition process. This is especially important since the rising stock of external debt makes the borrowing countries increasingly vulnerable to changes in perceived creditworthiness. Accordingly, countries must adopt policies, including pressing ahead with structural reforms, to ensure that the borrowing is used to promote sound growth.
Keywords:
PDP; BRO country; country; BRO; government; debt; Russia; Baltics; CIS; external financing; external debt; export ratio; country rating; BRO government; BRO region; a number of country; Structural reforms; Budget planning and preparation; Government debt management
Cover IMF Policy Discussion Papers
Dedicated Road Funds: A Preliminary View on a World Bank Initiative
Mr. Barry H Potter
In the past, Road Funds have been criticized as inconsistent with effective expenditure control, as distorting the allocation of public sector resources, and as incompatible with efficient management of government resources. This paper considers whether there is a case for a more benevolent view of the new “second generation” dedicated Road Funds, which have emerged in recent years. The paper concludes that, where a Road Fund pursues a genuine purchasing agency approach, then in principle it can be an efficient means of delivering road maintenance and, perhaps road capital expenditures. But a formidable list of institutional and financial requirements would have to be satisfied for a dedicated Road Fund to be appropriate. These conditions are more likely to be satisfied in developed economies, with efficient budgetary systems already in place. In many developing countries, the better solution may be to reform overall budget institutions, procedures and practices. But if the institutional and financial requirements for an efficient fund can be met, a Road Fund may be appropriate. The question is just how often the right conditions will arise.
Keywords:
PDP; charge; user charge; budget; revenue; public expenditure; Road Funds; Budget Management Policy; Budget Policy; RF solution; RF financing; RF official; RF cash resource; paper RF; Budget planning and preparation; Capital spending; Middle East; Global; Africa
Cover IMF Policy Discussion Papers
Russia and the IMF: The Political Economy of Macro-Stabilization
Mr. Ernesto Hernández-Catá
This paper reviews the experience with macroeconomic stabilization in Russia during the 2 1/2 years following the beginning of reforms in January 1992. It focuses on the different perceptions about the nature, the causes and the consequences of inflation in Russia and about the policies required to deal with it. It recounts the authorities’s efforts to control inflation and discusses the major political obstacles to stabilization, including the pressures for subsidized credits, budgetary transfers and tax exemptions and interenterprise arrears. Finally, it examines the role of IMF-supported programs in the process. This is a Paper on Policy Analysis and Assessment and the author(s) would welcome any comments on the present text. Citations should refer to a Paper on Policy Analysis and Assessment of the International Monetary Fund, mentioning the author(s) and the date of issuance. The views expressed are those of the author(s) and do not necessarily represent those of the Fund.
Keywords:
PDP; government; IMF financing; financing; price; government privatization agency; IMF team; monetary policy; IMF mission; exchange market liberalization; IMF's money; government arrears; Inflation; Credit; Budget planning and preparation; Correspondent banking; Government debt management