Debt opacity burdens the public and can exacerbate debt vulnerabilities in many countries. Both low-income and developing countries and emerging market economies have critical gaps in debt transparency, and the implementation of international standards and guidelines has lagged. The paper surveys the legal frameworks of sixty jurisdictions and reveals the critical weaknesses that hinder debt transparency, which include weak reporting obligations, limited coverage of public debt, inadequate monitoring, unclear borrowing and delegation processes, unfettered confidentiality arrangements and weak accountability mechanisms. Because laws entrench practices and bind the discretion of policy makers and debt managers alike, subjecting them to public scrutiny, legal reform is a necessary part of any solution to the problem of hidden debt, though it may entail a difficult and time intensive process in many jurisdictions.
In their effort to strengthen fiscal management, the authorities in the Maldives are aiming to develop a legal framework for the country’s Sovereign Development Fund (SDF) to provide it a firm legal basis and establish its governance, accountability, and reporting arrangements. An IMF team supported the authorities in this endeavor with advice on key design choices involving the SDF’s objectives, operational policies, and interaction with the country’s broader fiscal management framework. This note summarizes the mission’s analysis and recommendations.
This book is concerned with the nature of the relationship between gender, ethnicity and poverty in the context of the external and internal dynamics of households in Guyana. Using detailed data collected from male and female respondents in three separate locations, two urban and one rural, and across two major ethnic groups, Afro-Guyanese and Indo-Guyanese, the authors discuss the links between gender and race, exploring development issues from a feminist perspective.
Debt opacity burdens the public and can exacerbate debt vulnerabilities in many countries. Both low-income and developing countries and emerging market economies have critical gaps in debt transparency, and the implementation of international standards and guidelines has lagged. The paper surveys the legal frameworks of sixty jurisdictions and reveals the critical weaknesses that hinder debt transparency, which include weak reporting obligations, limited coverage of public debt, inadequate monitoring, unclear borrowing and delegation processes, unfettered confidentiality arrangements and weak accountability mechanisms. Because laws entrench practices and bind the discretion of policy makers and debt managers alike, subjecting them to public scrutiny, legal reform is a necessary part of any solution to the problem of hidden debt, though it may entail a difficult and time intensive process in many jurisdictions.
In their effort to strengthen fiscal management, the authorities in the Maldives are aiming to develop a legal framework for the country’s Sovereign Development Fund (SDF) to provide it a firm legal basis and establish its governance, accountability, and reporting arrangements. An IMF team supported the authorities in this endeavor with advice on key design choices involving the SDF’s objectives, operational policies, and interaction with the country’s broader fiscal management framework. This note summarizes the mission’s analysis and recommendations.
This will help us customize your experience to showcase the most relevant content to your age group
Please select from below
Login
Not registered?
Sign up
Already registered?
Success – Your message will goes here
We'd love to hear from you!
Thank you for visiting our website. Would you like to provide feedback on how we could improve your experience?
This site does not use any third party cookies with one exception — it uses cookies from Google to deliver its services and to analyze traffic.Learn More.