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International Monetary Fund. Fiscal Affairs Dept.
An IMF team found that the State of Odisha had an overall public investment management (PIM) system that compared well with other emerging market economies, reflecting in particular strong institutions at the execution stage, which have helped the State increase significantly its public investment effort over the last few years. The State also displays some encouraging practices in terms of climate-sensitive PIM. However, several challenges persist and have to do mostly with the first stage (planning, appraisal) and the second stage (maintenance, selection of projects) of the PIM cycle. The team has identified five high-priority recommendations that could improve PIM processes and support the effective implementation of the Government of Odisha’s investment policy and development agenda, including to increase resilience against climate change.
Marco Gross
and
Wei Sun
This report provides a brief summary of the purpose and findings of a technical assistance (TA) mission that was intended to review and evaluate the Reserve Bank of India (RBI)’s stress test model suite, which took place in April 2023. The RBI’s model suite was found to be strong and well developed in numerous respects. The most noteworthy recommendations pertain to credit risk, market risk, and macro-financial scenario design. A detailed list of 28 recommendations spanning all areas was left with the RBI. A detailed TA report accompanies this brief summary report.