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International Monetary Fund

Abstract

Esta Guía proporciona orientación clara y actualizada sobre los conceptos, definiciones y clasificaciones de la deuda externa bruta de los sectores público y privado, y sobre las fuentes, técnicas de compilación y usos analíticos de estos datos. Reemplaza a las anteriores directrices internacionales sobre las estadísticas de deuda externa publicadas en 1988 en Deuda Externa: Definición, cobertura estadística y metodología (conocido como el "Libro Gris"). El marco conceptual de esta Guía se deriva del Sistema de Cuentas Nacionales 1993 y de la quinta edición del Manual de Balanza de Pagos del FMI (1993). La preparación de esta Guía fue una tarea emprendida por el Grupo de tareas interinstitucional sobre estadísticas financieras, bajo la presidencia del FMI y con la participación de representantes del Banco de Pagos Internacionales, la Secretaría del Commonwealth, el Banco Central Europeo, Eurostat, la OCDE, la Secretaría del Club de Paris, UNCTAD y el Banco Mundial.

International Monetary Fund

Abstract

Ce guide fournit des orientations claires et actualisées sur les concepts, les définitions et les classifications de la dette extérieure brute des secteurs privé et public, ainsi que sur les sources, les techniques de compilation et les applications analytiques de ces données. Ce guide supplante le guide international précédent des statistiques de la dette extérieure, « L'endettement international : définition, couverture statistique et méthodologie », paru en 1988 et connu sous l’appellation de Livre gris. Le cadre conceptuel du guide est issu du Système de comptabilité nationale 1993 et de la cinquième édition du Manuel de la balance des paiements du FMI (1993). Ce guide a été rédigé conjointement par l’équipe spéciale interinstitutions des statistiques des finances, présidée par le FMI et composée de représentants de la Banque des règlements internationaux, du secrétariat du Commonwealth, de la Banque centrale européenne, d'Eurostat, de l'OCDE, du secrétariat du Club de Paris, de la CNUCED et de la Banque mondiale.

Ms. Annalisa Fedelino
and
Alina Kudina
This paper looks at the link between fiscal policy and debt sustainability in a number of African countries participating in the Heavily Indebted Poor Countries (HIPC) Initiative. The paper finds that, on the basis of current fiscal policies, debt levels will remain unsustainable even after these countries graduate from the HIPC Initiative. This finding has important policy implications. By the very requirements of the HIPC Initiative, these countries are expected to increase significantly their poverty-reducing expenditure-possibly resulting in weaker fiscal primary balances and worsening debt sustainability outlook. As offsetting fiscal tightening may not be viable, ensuring debt sustainability may thus require increased availability of (nondebt-creating) grants. Otherwise, debt sustainability in HIPC countries may prove elusive in the long term.
International Monetary Fund
Uganda showed strong macroeconomic stability, low inflation, and poverty reduction under the Poverty Reduction and Growth Facility (PRGF) Arrangement. Executive Directors commended the monetary and exchange rate policies, and stressed the need to strengthen fiscal sustainability and maintain a healthy financial sector. They emphasized the need to improve the infrastructure, expand financial intermediation, enhance governance to improve the investment climate, and encourage private sector-led investment and growth. They agreed that Uganda has successfully completed the first review under the PRGF Arrangement, and approved waiver.
International Monetary Fund

Abstract

This Guide provides clear, up-to-date guidance on the concepts, definitions, and classifications of the gross external debt of the public and private sectors, and on the sources, compilation techniques, and analytical uses of these data. The Guide supersedes the previous international guidance on external debt statistics available in External Debt: Definition, Statistical Coverage, and Methodology (known as the Gray Book), 1988. The Guides conceptual framework derives from the System of National Accounts 1993 and the fifth edition of the IMFs Balance of Payments Manual(1993). Preparation of the Guide was undertaken by an Inter-Agency Task Force on Finance Statistics, chaired by the IMF and involving representatives from the BIS, the Commonwealth Secretariat, the European Central Bank, Eurostat, the OECD, the Paris Club Secretariat, UNCTAD, and the World Bank.

International Monetary Fund
This 2002 Article IV Consultation highlights that since the conclusion of the last Article IV consultation in March 2001, Uganda has continued to implement disciplined financial policies and sound structural reforms that have helped to sustain robust economic growth despite an adverse external environment. In 2001/02 (July–June), real GDP growth increased to 6.6 percent, boosted by highly favorable weather conditions for agriculture and a surge in construction activity from a pickup in investment. A sharp drop in food crop prices resulted in negative headline inflation of -2.5 percent during the year.
International Monetary Fund
This paper presents an update to the Report on the Observance of Standards and Codes (ROSC) on Fiscal Transparency for Uganda. Since the 1999 ROSC, Uganda has made significant progress in enhancing transparency practices in the fiscal area. They have inter alia divested public enterprises, thereby reducing the scope for conducting off-budget quasi-fiscal operations. The authorities have compiled statistics of line ministries’ revenue, bringing this revenue under the control of the Treasury, and have extended the budgeting framework to cover district and local government budget processes.
Ms. Jacqueline T Irving

Abstract

This pamphlet reports on how the enhanced Initiative for Heavily Indebted Poor Countries (HIPCs) is meeting its aim of delivering faster, broader, and deeper debt relief to more HIPCs once these countries have shown a commitment to put the freed-up funds to work for the poor. The pamphlet also includes introductory sections that explain the rationale for the HIPC Initiative and describe how it works. A concluding section discusses the Initiative’s top challenge in the year ahead: to bring the remaining eligible countries to their decision points under the Initiative as fast and realistically as possible.