The Bangladesh Public Financial Management Systems report documents the country's financial management systems covering primarily the areas of budgeting, funds flow, accounting and reporting, and auditing systems. This report also provides insights into the quality of internal control systems, staffing resource capacity, and information technology structure. The intent is to provide project teams and consultants with a better understanding of financial management systems to improve the quality of financial management assessments during project preparation. Find out how high-quality financial management assessments support projects by identifying key risks and enabling the implementation of appropriate actions and reforms to mitigate those risks.
Foreign aid to Indonesia takes the form of loans or grants. The loans can be made either to the government or to state-owned enterprises with a guarantee from the government. This report documents Indonesia's financial management systems covering budgeting, funds flow monitoring and analysis, accounting and reporting, and auditing. It also provides insights into the quality of internal control systems, staff capacity, and information technology structure. The intent is to provide project teams and consultants with a better understanding of financial management systems during project preparation. Find out how high-quality financial management assessments support project implementation through the identification of key risks and enabling the implementation of mitigating actions and reforms.
This report presents the rationale for and design of a city government disaster insurance pool in the Philippines. Insurance pools help governments enhance their financial preparedness for disasters, focusing on the provision of rapid post-disaster financing for early recovery. The Philippine City Disaster Insurance Pool was developed under the guidance of the Department of Finance as part of the 2015 Disaster Risk Financing and Insurance Strategy. It utilizes a parametric insurance structure, basing payouts on the occurrence of earthquakes and typhoons according to their physical features, rather than actual losses.
Taxation has a bad reputation. It is often a dry subject filled with technical jargon. Few look forward to the taxpaying experience. Most of the time ignored, when the topic of taxes does come up in the media it is usually in the form of an article about one group or another opposing tax changes. It takes a brave politician to propose even a modest tax increase and an unusual citizen to welcome one. Such views are heard in many countries, but particularly in Myanmar, where the tax take is among the lowest in the world as a share of GDP. It is widely accepted that citizens are fervently anti tax, thanks to decades of military authoritarianism that failed to meet the needs of the people. "Increase taxes? There will be riots on the streets," warned one senior policy maker. But how accurate are tax officials' and policymakers' prevailing views of citizens' attitudes towards taxation? What do citizens really think and know? These questions matter because taxes matter. Myanmar now finds itself in the early stages of a democratic transition and the gradual upgrading of its governance systems. Taxes have the potential to be a key tool in supporting these transformations. They are a sustainable and reliable means to raise government revenues to fund the public goods and services that the people want and need. Paying taxes is at the heart of the social contract between government and citizen. When people pay taxes, they fulfil a core duty as citizens. This act can empower them to demand that their government work better. Tax policy and the taxpaying experience also matter because they influence citizens' views of their government. They can determine whether they see their government as transparent, fair, and accountable or extractive, dismissive, and self-serving.
Paying taxes is at the heart of the social contract between government and citizen. When people pay taxes, they fulfill a core duty as citizens. Conversely, the act of paying taxes can empower citizens to demand that their government work better. Decades of authoritarian rule left Myanmar with a fractured social contract, limited provision of public goods, and one of the world's lowest tax takes. Yet, times are changing. People's expectations of what services their government should provide are rising. Taxes have begun to be reformed, and Myanmar's tax take is beginning to grow.
This report, titled Quest for Inclusive Transformation of Bangladesh: Who Not to Be Left Behind, was inspired by citizens' aspirations to attain the Sustainable Development Goals (SDGs) in Bangladesh. Having made significant progress on the preceding Millennium Development Goals, Bangladesh has already demonstrated strong commitment towards attainment of the SDGs. The Government of Bangladesh recently submitted a voluntary national review of the country's progress at the High-Level Political Forum of the United Nations 2017. The present report can be deemed an independent contribution by civil society that reflects citizens' perspectives on SDG delivery.
In 2016 around USD 142 billion, the highest amount of ODA in history, went into developing countries to support their education, health, and governance, and ultimately to enhance the economic growth of developing countries. Korea's development assistance achieved a new peak of USD 2 billion in 2016, a 3.4% increase in real terms from 2015. Thus the amount of development assistance provided to developing countries from developed countries including Korea has been continuously increasing since 1990. After several decades of development assistance, policymakers and the civil society are questioning the effect of development assistance. What results are these huge amounts of development assistance actually having? Does this assistance efficiently and effectively support the growth of developing countries? If not, what can we do to enhance the effect of development assistance?
The creation of the Asian Infrastructure Development Bank (AIIB) understandably grabbed attention throughout the world. The initial response in the US, Japan and some other countries was to view it as a challenge to the post-World War II Bretton Woods order. Many saw it as an attempt by the Chinese to create an alternative institution after having failed to gain greater traction for reform of the existing system of international financial institutions. At the same time, many others see the AIIB as a major event in the history of international financial development with many positive implications for promoting global financial governance. As a Multilateral Development Bank (MDB), AIIB focuses on infrastructure investment in Asia and attempts to construct new mechanisms for international cooperation. It will undoubtedly push for reforms in global financial governance in terms of financial rule-making and loan allocations, and enhance regional financial integration in East Asia.
Although several studies have examined why overall price levels are higher in richer countries, little is known about whether there is a similar relationship at the urban and city level across countries. This paper compares the price levels of cities in Sub-Saharan Africa with those of other regions by analyzing price information collected for the 2011 round of the International Comparison Program. Readjusting the calculated price levels from national to urban levels, the analysis indicates that African cities are relatively more expensive, despite having lower income levels. The price levels of goods and services consumed by households are up to 31percent higher in Sub-Saharan Africa than in other low- and middle-income countries, relative to their income levels. Food and non-alcoholic beverages are especially expensive, with price levels around 35 percent higher than in other countries. The paper also analyzes price information collected by the Economist Intelligence Unit's Worldwide Cost of Living Survey, and obtains a similar result, indicating higher prices of goods and services in African cities.
The announcement that central government is prepared to fund the construction of Auckland's City Rail Link (CRL) has, once again, placed the issue of how to pay for infrastructure onto the public policy agenda. We don't think that building the CRL should be made conditional on a congestion charge, but there is a place for direct pricing of roads in New Zealand's public finance system. The building of the CRL is as good a time as any to introduce a better funding system. Any system should incorporate time-of-use pricing, as that is essential to get congestion off roads during peak periods. Congestion pricing should apply to all roads in a congested area, not just motorways. A uniform congestion charge, rather than fuel taxes, can improve fairness. Remaining equity concerns can be addressed by targeting some of the revenue raised at non-transport activities that benefit low income motorists.
This 2015 index of sustainability indicators has been prepared in accordance with the internationally recognized standard for sustainability reporting Global Reporting Initiative (GRI) guidelines and complies with the 'core option.' The GRI Index provides an overview of sustainability considerations within the World Bank's lending and analytical services as well as its day-to-day operations and management of staff. The World Bank aims to be comprehensive in its reporting and thus the Index includes indicators from GRIs financial sector supplement. The GRI Index covers activities from fiscal 2015, July 1, 2014, through June 30, 2015.
The Asian Infrastructure Investment Bank (AIIB), along with the creation of other institutions such as the New Development Bank, (NDB), the Contingency Reserve Fund and the Silk Road Fund, are major initiatives for China although they will play a complementary role with existing institutions that manage capital exports. There is a tendency to see the AIIB as having two key roles: as a leading agency for implementation of the "Belt and Road" vision expounded by Xi Jinping and as an instrument of "soft power" delivering "public goods" which address the region's infrastructure financing requirement. However, AIIB can only really be understood when placed in the context of the economic circumstances that confront China at home and abroad. Partly out of necessity and partly out of opportunity, Beijing is now laying the foundations for the next stage of China's rise. However, the logic of the "great leap outward", along with the ability to execute, is undermined if the financial surpluses go into reverse due to deterioration in the domestic economy. Xi Jinping's strategy is not without its risks.
Indonesia's parliament has approved a revised 2015 state budget with a significant shift in the spending allocation for infrastructure and subsidies.1 In doubling the capital expenditure, the revised budget clearly reflects the commitment of the new government to fix the economy's underlying infrastructure problems. Overall, the revised budget looks better targeted thanks to the elimination of the premium fuel subsidy and the significant increase in infrastructure spending. Getting the money is only the first step. The upcoming infrastructure projects are expected to pose serious challenges to the government. Within the next few months, the government has to design and execute a well-targeted investment priority, expedite the state budget realization for priority infrastructure projects, and attract private investors. Arguably the most challenging task of all is to supervise project implementation to minimise corruption and ensure the expected results.
This paper argues that the AIIB may not provide a complete solution for the MPAC. This is because the AIIB is first and foremost an Asian bank, rather than one focused on Southeast Asia and its membership ranges from countries in Asia to Europe and Latin America. It is highly likely that this regional development bank will have a pan-Asian coverage.
