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

KTC invites members to enjoy shopping with worthwhileness and special privileges at Osaka Japan.

Miss Sudchavee Banjobdee, Senior Manager – Credit Card Business, "KTC" or Krungthai Card Public Company Limited,jointly with Miss Tharinee Wongwattanun, Senior Marketing Manager, JCB International (Thailand) Company Limited, invite KTC JCB PLATINUM...

New Accenture Study Forecasts End to #Lucrative Inefficiencies for $1 Trillion Capital Markets Industry as It Adapts to the Digital Age

Wealth and asset managers generate most of the industry's profits but struggle to find scale efficiencies and are highly exposed to squeeze scenarios A new study from Accenture (NYSE: ACN) shows how the capital markets industry can wring out historical...

UMITRON secures US$2 million project funding from the Inter-American Development Bank to deliver IoT and AI technology to drive growth of sustainable aquaculture in Lake Titicaca, Peru

UMITRON PTE.LTD. (Singapore, Co-founder/Managing Director, Masahiko Yamada) in cooperation with Abaco (Cooperativa de Ahorro y Credito) and its subsidiary Piscis (Piscifactorias de los Andes) has been approved for US$2 million project funding to improve...

Photo Release: KBank wins Best Private Bank in Thailand 2018 award on the global stage

Mr. Jirawat Supornpaibul, Private Banking Group Head, recently represented KBank to receive the "Best Private Bank in Thailand 2018" award at the PWM/The Banker Global Private Banking Awards, organized by The Banker Magazine. It is the 24th best private...

Fitch Affirms BAFS at #A+(tha)#; Maintains Negative Outlook

Fitch Ratings (Thailand) Limited has affirmed Bangkok Aviation Fuel Services Public Company Limited's (BAFS) National Long-Term Rating at 'A+(tha)' and maintained Negative Outlook. Fitch has also affirmed BAFS's National Short-Term Rating at...

Related Topics