Suchergebnisse

This paper discusses Togo's progress under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. In November 2008, the Boards of Executive Directors of the IDA and the IMF agreed that Togo had met the requirements for reaching the decision point under the Enhanced HIPC Initiative. This paper assesses Togo's performance in reaching the completion point under the Enhanced HIPC Initiative and provides an updated debt relief analysis. In the opinion of the IDA and IMF staff, satisfactory progress has been made in implementing the reforms specified for reaching the completion point

The primary goals of the Dietary Reference Intakes (DRI) are to plan and assess nutrient intakes to promote health, reduce chronic disease, and prevent toxicity. Firefighters have unique nutrient needs compared to the public due to their job demands. The military provides the only published guidance for tactical athletes' nutrient needs. The purpose of this study was to determine whether firefighters were meeting the Military Dietary Reference Intakes (MDRI). A cross-sectional study was conducted in a sample of career firefighters (n = 150, 37.4 ± 8.4 year-old males) employed in Southern California. Data were gathered during baseline assessments from a Federal Emergency Management Agency-funded Firefighter Wellness Initiative. Participants were asked to log their food and beverage consumption over a 72-h period. Descriptive statistics (means, standard deviations, 95% confidence intervals) were calculated for all participant characteristics and average three-day nutrient intakes. A 95% confidence interval compared their nutrient intake to MDRI to identify differences in nutrient intakes, significance accepted at p = 0.05. Compared to MDRI reference values, firefighters consumed an inadequate amount of total calories, linolenic and alpha-linolenic fatty acid, fiber, vitamins D, E, and K, potassium, magnesium, zinc, and carbohydrates. Vitamin D, magnesium, and potassium had the greatest shortcomings (95.3%, 94.0%, and 98.7%, respectively, under MRDA). Thus, firefighters are not meeting the established MDRI for several key nutrients required to promote health, improve performance, and reduce chronic disease. Dietitians and health care providers may use the results of this study to help design health promotion programs for this population. Future research should develop a customized reference intake for firefighters.

Since the introduction of the HIPC Initiative in the early 2000s, indebted LICs had to show a decent governance performance before their debts were forgiven. We discuss the hypothesis that during the follow-up, Multilateral Debt Relief Initiative (MDRI), the World Bank has refrained from this policy, and that debt relief decisions are rather politically driven. We test different political economy theories by applying panel models to a set of debtor and creditor countries, respectively. Our main finding shows, that improvements in governance quality led to higher levels of debt forgiveness in 2000-2004, but not in the subsequent periods.

A maior parte da análise sobre a dívida pública de Moçambique começa intencionalmente em 2006, embora ocasionalmente se faça referência a anos anteriores para destacar tendências. A razão para se concentrar em 2006 é o ano em que, após Moçambique ter beneficiado das iniciativas HIPC (Países Pobres Altamente Endividados) e MDRI (Iniciativa Multilateral de Alívio da Dívida), que contribuíram para um regresso à sustentabilidade da dívida pública externa. No período subsequente a esta iniciativa, a dívida pública moçambicana atingiu um mínimo absoluto. Antes das iniciativas PPAE e MDRI, a dívida pública moçambicana atingiu níveis insustentáveis nos anos 90, de tal forma que a dívida externa atingiu mais de 100% e 1000% do PIB e das receitas públicas. O objectivo desta investigação é analisar os factores que determinaram o rápido crescimento da dívida pública de Moçambique de 40% para 120% nos últimos 5 anos. A investigação quanto à abordagem é qualitativa e quanto aos objectivos, é descritiva. Foi utilizado guião de entrevista para a recolha de dados. A pesquisa documental foi utilizada para aceder a material institucional do Ministério da Economia e Finanças, para além da observação durante o processo de recolha de dados. Foi a conclusão desta pesquisa que factores como as más escolhas políticas públicas e a dinâmica do processo da dívida pública determinaram o rápido crescimento da dívida pública no país de 40% para 120% nos últimos 5 anos, com impacto negativo a nível económico, social e político.

We analyse the debt dynamics in countries that benefited from the HIPC/MDRI debt relief initiatives with a view to applying a probabilistic approach to estimating future debt paths for those countries. We extend the probabilistic approach to public debt sustainability analysis (DSA) proposed by Celasun et al. (2006). This required addressing the twin challenges of a the time period that is too short to conduct country-by-country estimations and the presence, suggested by econometric evidence, of a break?point around 2006 in the dynamics of debt accumulation. To overcome the data limitations

After two debt relief initiatives launched in 1996 (the Heavily Indebted Poor Countries, HIPC Initiative) and in 1999 (The enhanced HIPC initiative), the G7 decided to go further by cancelling the remaining multilateral debt for these HIPC countries through the Multilateral Debt Relief Initiative (MDRI, 2005). A few papers tried to assess the desired fiscal response effects of those initiatives. This paper uses an extended dataset and alternative econometric techniques in order to tackle methodological issues as endogeneity and fixed effects. We found that debt relief and especially the enhanced HIPC initiative have had a positive impact on the total domestic revenue and the public investment (as percentages of the GDP). Thanks to our large observation span, we also observed that the MDRI led to a significant additional improvement of the level of public investment and domestic revenues ratio, although these effects are smaller than the HIPCs ones. ; Après deux initiatives de réduction de dette (PPTE I fin 1996 et PPTE II en 1999), le G7 décida d'annuler la totalité de la dette multilatérale (Initiative d'Annulation de la Dette Multilatérale, IADM en 2005). Quelques travaux ont essayé d'évaluer l'impact de ces mesures sur les finances publiques des pays bénéficiaires. Ce travail utilise une base de données plus étendue et des méthodes économétriques alternatives pour tenir compte de l'endogénéïté et des effets fixes. Nous trouvons que les réductions de dette (en particulier l'initiative PPTE II) ont eu un impact positif sur la pression fiscale et sur les investissements publics (en pourcentage du PIB). Grâce à l'extension de la période d'étude, nous observons également que l'IADM a un effet similaire, quoique moins persistent.

After two debt relief initiatives launched in 1996 (the Heavily Indebted Poor Countries, HIPC Initiative) and in 1999 (The enhanced HIPC initiative), the G7 decided to go further by cancelling the remaining multilateral debt for these HIPC countries through the Multilateral Debt Relief Initiative (MDRI, 2005). A few papers tried to assess the desired fiscal response effects of those initiatives. This paper uses an extended dataset and alternative econometric techniques in order to tackle methodological issues as endogeneity and fixed effects. We found that debt relief and especially the enhanced HIPC initiative have had a positive impact on the total domestic revenue and the public investment (as percentages of the GDP). Thanks to our large observation span, we also observed that the MDRI led to a significant additional improvement of the level of public investment and domestic revenues ratio, although these effects are smaller than the HIPCs ones. ; Après deux initiatives de réduction de dette (PPTE I fin 1996 et PPTE II en 1999), le G7 décida d'annuler la totalité de la dette multilatérale (Initiative d'Annulation de la Dette Multilatérale, IADM en 2005). Quelques travaux ont essayé d'évaluer l'impact de ces mesures sur les finances publiques des pays bénéficiaires. Ce travail utilise une base de données plus étendue et des méthodes économétriques alternatives pour tenir compte de l'endogénéïté et des effets fixes. Nous trouvons que les réductions de dette (en particulier l'initiative PPTE II) ont eu un impact positif sur la pression fiscale et sur les investissements publics (en pourcentage du PIB). Grâce à l'extension de la période d'étude, nous observons également que l'IADM a un effet similaire, quoique moins persistent.

The Myanmar Development Resource Institute – Centre for Economic and Social Development (MDRI-CESD), The Asia Foundation, and the International Growth Centre, have released a report presenting the 'knowns and unknowns' of natural resource revenue sharing in Myanmar. The report, Natural Resources and Subnational Governments in Myanmar: Key considerations for wealth sharing, provides an overview of state and regional governments' roles in natural resource governance, highlighting the mining, oil and gas, timber, and hydropower sectors. This report is the fourth volume in the Subnational Governance in Myanmar Discussion Paper Series, which aims to inform future analysis of the potential risks and benefits of changes to the role of subnational governments.

Low income countries (LICs) generally have very little access to the international financial markets. Inthe 1990s, bilateral creditors and international financial institutions started granting LICs debt reliefunder the Heavily Indebted Poor Countries (HIPCs) initiatives and continued with the more recentMultilateral Debt Relief Initiative (MDRI). Have these debt relief initiatives led official and privatecreditors to change their lending policy with respect to beneficiary countries? This paper addresses thisquestion using difference-in-differences methodology. Our findings tend to show that official lenderstighten their HIPC financing policy, shortening grace and maturity periods, and reducing the grantelement on new loans once debt relief has been provided. We also find that beneficiary governmentsmanage to diversify their financing sources by borrowing more from private creditors once they havecompleted the HIPC process and have received additional debt cancellations under the MDRI. ; Cet article évalue l'impact des initiatives d'allègement de dette multilatérale sur les conditions deréendettement extérieur des gouvernements bénéficiaires auprès de créanciers officiels et privés. Lesrésultats de cette étude indiquent qu'avoir bénéficié des initiatives PPTE (Pays Pauvres Très Endettés)et IADM (Initiative d'Annulation de Dette Multilatérale) conduit les gouvernements concernés àcontracter des emprunts officiels comprenant des périodes de grâce et de maturité plus courtes (et doncun « élément-don » plus faible) que s'ils n'avaient obtenu ces annulations de dette. Nos résultatsmontrent également que les gouvernements bénéficiaires parviennent à emprunter davantage auprès decréanciers privés une fois leur dette annulée. Cependant, des tests additionnels révèlent que cet accès àde nouveaux marchés financiers ne s'effectue qu'après l'octroi des annulations de dette sous l'IADMet que les investisseurs internationaux privés ne s'autorisent donc à prêter aux PPTE qu'une fois laquasi-totalité de leur dette extérieure ...

Low income countries (LICs) generally have very little access to the international financial markets. Inthe 1990s, bilateral creditors and international financial institutions started granting LICs debt reliefunder the Heavily Indebted Poor Countries (HIPCs) initiatives and continued with the more recentMultilateral Debt Relief Initiative (MDRI). Have these debt relief initiatives led official and privatecreditors to change their lending policy with respect to beneficiary countries? This paper addresses thisquestion using difference-in-differences methodology. Our findings tend to show that official lenderstighten their HIPC financing policy, shortening grace and maturity periods, and reducing the grantelement on new loans once debt relief has been provided. We also find that beneficiary governmentsmanage to diversify their financing sources by borrowing more from private creditors once they havecompleted the HIPC process and have received additional debt cancellations under the MDRI. ; Cet article évalue l'impact des initiatives d'allègement de dette multilatérale sur les conditions deréendettement extérieur des gouvernements bénéficiaires auprès de créanciers officiels et privés. Lesrésultats de cette étude indiquent qu'avoir bénéficié des initiatives PPTE (Pays Pauvres Très Endettés)et IADM (Initiative d'Annulation de Dette Multilatérale) conduit les gouvernements concernés àcontracter des emprunts officiels comprenant des périodes de grâce et de maturité plus courtes (et doncun « élément-don » plus faible) que s'ils n'avaient obtenu ces annulations de dette. Nos résultatsmontrent également que les gouvernements bénéficiaires parviennent à emprunter davantage auprès decréanciers privés une fois leur dette annulée. Cependant, des tests additionnels révèlent que cet accès àde nouveaux marchés financiers ne s'effectue qu'après l'octroi des annulations de dette sous l'IADMet que les investisseurs internationaux privés ne s'autorisent donc à prêter aux PPTE qu'une fois laquasi-totalité de leur dette extérieure ...