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4 May 16
The World Bank has warned Mozambique that high levels of fiscal risk are threatening its economy and called for greater risk assessment and transparency.
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3 May 16
Puerto Rico has announced it will not pay around $422m in bond payments due yesterday, the most significant default yet in the country’s spiralling debt crisis.
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3 May 16
Sri Lanka is set to benefit from $1.5bn from the International Monetary Fund to support the country’s economic reforms over the next three years.
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3 May 16
The International Monetary Fund has warned that economic growth in sub-Saharan Africa will slow this year, and urged countries across the region to shore up their tax bases as revenues from exports...
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29 Apr 16
The United Kingdom has suspended all financial aid to Mozambique following a “serious breach of trust” relating to more than $1bn worth of undisclosed debts.
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28 Apr 16
How can China best manage its huge growth in public-private partnerships?
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28 Apr 16
Local governments’ recourse to capital markets is on the rise, fuelled by growing issuances in China, Fitch Ratings has found.
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26 Apr 16
PEFA has become the standard tool for measuring public financial management systems – but has it also become a misleading victim of its own success?
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26 Apr 16
Saudi Arabia has unveiled an ambitious plan to overhaul the country’s economy and end its “addiction to oil”.
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25 Apr 16
Mozambique’s government has come clean about $1bn worth of borrowing it hid from the International Monetary Fund.
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25 Apr 16
The International Monetary Fund has advised Vietnam to tighten its belt in the face of sharp increases in public debt.
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22 Apr 16
A new local government institute is to help build the public financial management capacity of local authorities in Rwanda.
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19 Apr 16
The European Commission is not strict enough in enforcing rules intended to keep the bloc’s public finances in order, the European Court of Auditors has found.
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18 Apr 16
The South American nation of Suriname is set to receive a support package worth $478m from the International Monetary Fund intended to help its economy pull out of recession.
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15 Apr 16
Tunisia has made further progress towards a $2.8bn support package from the International Monetary Fund, which now only needs approval from the fund’s executive board.
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13 Apr 16
Public sector and accountancy professionals have convened in the Caribbean in hopes of strengthening the region’s public financial management.
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8 Apr 16
The European Commission has announced plans to modernise and simplify the EU-wide VAT system, make it more fraud proof, and hand greater control of the tax back to member states.
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7 Apr 16
Russia’s economy faces a “long journey to recovery” from a recession that wiped 3.7% off its GDP in 2015 and could undo almost a decade’s worth of poverty-reduction gains, according to the World Bank...
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7 Apr 16
The executive board of troubled Malaysian national development fund 1MDB have today offered their resignations following a damning report into the scandal from the country’s Public Accounts Committee...
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7 Apr 16
There is “no adequate data” to demonstrate that European Union support for farmers’ incomes makes an effective or efficient contribution, the European Court of Auditors has said.
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7 Apr 16
Somalia and Angola have both begun discussions with the International Monetary Fund for support as their economies struggle under the weight of tumbling oil prices and insecurity respectively.
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6 Apr 16
The International Monetary Fund has welcomed Rwanda’s plans to shelve non-priority spending and dampen demand for imports as low commodity prices deal a hard blow to revenues.
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4 Apr 16
Portugal has missed its 2015 fiscal deficit target and looks set to remain under the European Union’s excessive deficit corrective measures as a result, the International Monetary Fund has said.
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4 Apr 16
Ukraine’s economy could turn around from a 10% contraction last year to 1% growth this year if the government can make progress on reforms, the World Bank has said.
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4 Apr 16
The fall in oil prices has “decimated” Nigerian government revenues and slashed the country’s GDP growth from 6.3% in 2014 to an estimated 2.7% last year, the International Monetary Fund has said.