IMF Executive Board Reviews Nicaraguas Poverty Reduction StrategyJanuary 1, 0001

Stocks and Financial Services Press Releases Thursday July 14, 2016 08:33
IMF--14 Jul--International Monetary Fund

July 12, 2010 On July 9, 2010, the Executive Board of the International Monetary Fund (IMF) reviewed Nicaragua's Poverty Reduction Strategy, titled Updated National Human Development Plan (see Country Report No. 10/108) and a Joint IMF/World Bank Staff Advisory Note.

Following the Executive Board's discussion, Mr. Murilo Portugal, Deputy Managing Director and Acting Chair, made the following statement:

"The Nicaraguan authorities have prepared a comprehensive Poverty Reduction Strategy (PRSP) that lays out the strategic priorities for accelerating growth and reducing poverty, while taking into account the impact of the global financial crisis. The PRSP is appropriately focused on preserving macroeconomic stability, promoting living standards through increased access to social services, improving governance, and boosting competitiveness through investments in infrastructure and renewable energy.

"Putting public debt on a firmly declining path, while creating space for infrastructure development and pro-poor spending, remains a key challenge. This requires broadening the tax base, rationalizing expenditures, containing the growth in public sector wages, and tackling imbalances in the pension system.

"Strengthening the governance and transparency of public sector institutions is crucial to boost the effectiveness and targeting of public spending. The authorities' commitments to improve public financial management systems and practices is an important step in this regard, though increased resolve will be required to strengthen the procurement process and accountability. Efforts should continue to strengthen the monitoring and coordination of official assistance to ensure its most effective use.

"A priority for gauging progress in poverty reduction is to enhance the monitoring of social outcomes and spending, including by increasing the frequency and coverage of national household surveys. Strengthening the ex-post evaluation of social programs is also important.

"Close engagement with the international community will help the authorities implement the objectives of the PRSP," Mr. Portugal said.

Latest Press Release

Photo Release: WHA Industrial Development Welcomes Mahidol University

Mr. Vivat Jiratikarnsakul (Center), Chief Operating Officer Industrial and International, WHA Industrial Development PLC. and Ms. Siyaphas Chantachairoj (4th right, front row), Director – Corporate Marketing, WHA Corporation PCL, welcomed a...

PTTEP net income in Q1 strongly achieved USD 394 million Going forward with Expand Execute strategy

PTT Exploration and Production Public Company Limited (PTTEP) reported its first quarter's net income of USD 394 million (equivalent to THB 12,479 million), reflecting a successful "Expand & Execute" strategy and its readiness to build a sustainable...

The Siam Commercial Bank and Julius Baer launch strategic wealth management joint venture, SCB Julius Baer, in Thailand serving high net worth individuals

The Siam Commercial Bank (SCB), the first commercial bank in Thailand, and Julius Baer, the leading Swiss wealth management group and one of the four largest private banks in Asia, announced today that their joint venture company, SCB Julius Baer, has...

KTC joins hands with JCB in launching an amazing campaign members exclusively receive Universal Studios Japan tickets to celebrate private Halloween Night event with Bt. 10,000 discounts off Bangkok - Osaka flight tickets.

Ms. Sudchavee Banjobdee, Senior Manager – Credit Card Business, "KTC" or Krungthai Card Public Company Limited, jointly with Ms. Prutsapa Pruksanusak, Manager -Bank Relation Division, JCB International (Thailand) Company Limited, organize...

Permission to Issue Baht-denominated Bonds or Debentures by Foreign Entity in Thailand during 1stMay 2019 31stJanuary 2020

Pursuant to the Ministry of Finance's Ministerial Notification re: Permission to Issue Baht-Denominated Bonds or Debentures in Thailand on the 11th April 2006 and four amendments, which stipulates criteria for permission to issueBaht-denominated bonds or...

Related Topics