Suchergebnisse

This articles analyses various operations on and around the Belgian public debt in order to match the Maastricht criteria. ; Peer reviewed

doi : 10.2307/3502424 ; Enterprise adjustment and the distribution of credit during transition. a comparison of four central european countries On the basis of monetary and banking statistical series, this article highlights the very large ex post divergences between credit policies in four transitional economies (Bulgaria, Hungary, Poland, the Czech and Slovak Republics). These national patterns are then interpreted as the result of different paths of evolution in the credit relationship, between banks and enterprises, since 1990. Three main categories of variables are identified as decisive in this process : macroeconomic constraints (esp. public deficits and foreign debt), public intervention in the banking sector i.a. under the form of recapitalisation programs ; then the conditions under which accumulated stocks of assets and liabilities have been either preserved or drastically run down during the early months of remoneti-sation. ; À partir d'une série d'indicateurs bancaires et monétaires, cet article met en valeur la très grande diversité ex-post des politiques de crédit suivies depuis 1990 dans quatre économies en transition. On montre que cette divergence est liée à des profils divergents d'ajustement de la relation de crédit entre banques et entre­prises, sous l'impact lui-même variable de trois catégories de facteurs: les contraintes macro-économiques (déficit public et dette extérieure en particulier), les interventions publiques dans le secteur bancaire (notamment les recapitalisa­tions), enfin les conditions dans lesquelles les stocks de dettes constitués avant la transition ont été ou non préservés pendant les premiers mois de la transition.

doi : 10.2307/3502424 ; Enterprise adjustment and the distribution of credit during transition. a comparison of four central european countries On the basis of monetary and banking statistical series, this article highlights the very large ex post divergences between credit policies in four transitional economies (Bulgaria, Hungary, Poland, the Czech and Slovak Republics). These national patterns are then interpreted as the result of different paths of evolution in the credit relationship, between banks and enterprises, since 1990. Three main categories of variables are identified as decisive in this process : macroeconomic constraints (esp. public deficits and foreign debt), public intervention in the banking sector i.a. under the form of recapitalisation programs ; then the conditions under which accumulated stocks of assets and liabilities have been either preserved or drastically run down during the early months of remoneti-sation. ; À partir d'une série d'indicateurs bancaires et monétaires, cet article met en valeur la très grande diversité ex-post des politiques de crédit suivies depuis 1990 dans quatre économies en transition. On montre que cette divergence est liée à des profils divergents d'ajustement de la relation de crédit entre banques et entre­prises, sous l'impact lui-même variable de trois catégories de facteurs: les contraintes macro-économiques (déficit public et dette extérieure en particulier), les interventions publiques dans le secteur bancaire (notamment les recapitalisa­tions), enfin les conditions dans lesquelles les stocks de dettes constitués avant la transition ont été ou non préservés pendant les premiers mois de la transition.

Democratic consolidation in Mauritania; attempts to ease the public debt problem; 23-page section.

Due to is public finance position in the early 1990's, matching the deficit and debt criteria set by the Maastricht Treaty was not an easy task for Belgium. Efforts from all components of the public sector were required and local government delivered important efforts on both deficit and debt, despite the fact that local government supervision is not a federal but well a regional task. This article explains how local government is articulated with other components of general government, details its achievments and provide some light on the political process. ; Peer reviewed

Summary in English. Includes discussion of public debts.

Ce papier étudie les problèmes d'endettement extérieur du Cameroun en analysant son évolution globale (structure, service de la dette, conditions des emprunts, etc.). Cette analyse est complétée par l'examen de la dette intérieure compte tenu de son poids dans la dette totale du pays. Après avoir retracé les origines de la crise d'endettement, le papier aborde les différentes solutions appliquées à la dette extérieure camerounaise, les perspectives d'avenir de la dette, les politiques de minimisation des crises d'endettement et les stratégies susceptibles d'alléger considérablement la dette intérieure publique du pays. – Dette ; Allégement de la dette ; Initiative PPTE ; Soutenabilité de la dette ; Cameroun ; This paper evaluates Cameroon's foreign debt situation by analysing its evolution (structure, debt service payment, debt ratio, borrowing conditions, etc.). The analysis is extended by examining the internal debt situation, taking into account its weight in the global endebtness of the county. After charting out the origin of the debt crisis, the paper outlines the different solutions that have been meted to ease the external debt situation, notably: the future prospects of the debt situation, policies to attenuate the debt crisis, as well as strategies capable of considerably reducing internal public debt in the country. – debt ; debt relief ; HIPC ; debt sustainability ; Cameroon

The article analyzes a mechanism of compensation of State debts, and examines the question of the protection of fundamental rights such as equality in the Belgian federal State. ; L'article analyse un mécanisme de compensation des dettes de l'Etat, et examine la question de la protection des droits fondamentaux tels que l'égalité dans l'Etat fédéral belge. ; Peer reviewed

Whereas post-independence development led to massive industrialisation, the changes which shook the Algerian economy from the end of the 1970s onwards are part of a genuine transformation of the whole society towards the famous market economy. Successive restructurings of public-sector enterprises since 1980 are at the heart of the reforms. Organic restructuring, autonomy, and threats of privatisation turned upside down the role - primarily industrial - attributed to the economy and particularly to its public sector. Algeria's slide into a major economic crisis has particularly affected industry : a drop in production to recession levels; a worsening of dependence on external goods; a deterioration of equipment until the machines broke down ; etc. The social and territorial consequences are numerous: redundancies by the thousand and increasing unemployment, dissolution of companies, abandonment of activity, dec1ine in purchasing power and poverty, strengthening of regional inequalities, and the rise of the informal sector. V The globalisation context is not unrelated to the crisis (fluctuation in the price of hydrocarbons, weight of the debt, pressure from the international financial organisations to respect the structural adjustment programmes and to reduce the public sector, industrial strategies, etc.). The role of the state is however placed in question as its disengagement decreases its legitimacy. In this regard, the parallel progression towards serious economic difficulties, and unprecedented social and political conflicts, is disconcerting. Unless this involves the various facets of a single crisis ? Whereas the public-sector companies are promised for privatisation, this task entails the carrying out of a stock-check of the state of the Algerian industrial sector, its deficiencies, in particular technological, its needs as well as the positions of those most affected - the employees and managers. ; Alors que le développement post-indépendance a abouti à une industrialisation massive, les transformations ...