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Water Management
The Committee's report examines a range of issues relating to water management in England and Wales, including the regulatory and legislative framework, water demand and supply issues, water efficiency, and environmental aspects including the Water Framework Directive. Amongst the 60 conclusions and recommendations made, the Committee finds that a sustainable balance between water resource development and demand management cannot be achieved until there is a co-ordinated institutional framework for water resource management, with a need for wider stakeholder engagement by means of new regional boards consisting of environmental and consumer interests, as well as Ofwat representatives. Ofwat ...
Transforming Government and Public Services
'This book distills the learning from practical experience and academic research…and represents a significant contribution to the challenges we face in transforming government and public services in an environment of ever-tighter finances' — John Suffolk, UK Government Chief Information Officer Major public sector IT-enabled business change programmes are designed to realize benefits in terms of more efficient services, services tailored to the need of citizens, and improved outcomes, but in practice such benefits often fail to materialize or we are unable to demonstrate their delivery - Transforming Government and Public Services provides proven tools, techniques and processes to revers...
Heatherbound
Heatherbound is an agricultural planet, newly settled by dissidents from Great Britain. Kendell McCreight, a brilliant biochemist, and one of the original colonists, searches for a plant that would be of value to Earth for trade purposes. If he does not find something, Heatherbound could become an economic slave to Earth. In his search he discovers the Dasurainians, a powerful telepathic alien race. They are stranded on Heatherbound, which is to them a very warm planet. Kendell aids them with cryogenics so that they may hibernate until a planet they have genetically altered grows enough fuel for their spaceship to take them home. In exchange for his assistance, they give him a plant that when processed becomes a lightweight metal, stronger than steel. One hundred years later, his grandson, Cameron, races against time to save the Dasurainians, when he hears their telepathic cry for help. Earth covets Heatherbound for the seemingly endless cornucopia of valuable plants and sends a fleet to invade and conquer.
RIBA Journal
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Germany: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany
Germany’s economy contracted by just under 5 percent in 2020, outperforming most European peers. But renewed waves of infections and associated lockdowns caused economic activity to plunge again in the first quarter of this year. While the pace of mass vaccination has picked up and the economy has started to reopen, the recovery path is beset with risks, particularly with respect to the progress of the pandemic and supply shortages in major industries. The authorities have maintained appropriately accommodative fiscal and financial policies, and most measures supporting households and firms have been extended through 2021.
Foreign Aid and Revenue Response
This paper examines the revenue response to inflows of foreign aid in 107 countries during the period 1970–2000, In particular, it investigates whether the impact of aid on the revenue effort depends on the composition of aid (grants vis-à-vis loans). The results indicate that while concessional loans are associated with higher domestic revenue mobilization, the opposite is true of grants. On average, the dampening effect of grants on the revenue effort is modest. However, for those countries plagued by high levels of corruption, our results suggest that the decline in revenues completely offsets the increase in grants. The results are robust to various specifications.
Guinea
Guinea’s strong growth momentum continues. Real growth reached about 10 percent in 2017 and is expected at about 6 percent in 2018 and 2019. However, the social context remains fragile. Risks of political and social instability are heightened by upcoming legislative elections in March 2019 and presidential elections in 2020.
Mauritius
This 2019 Article IV Consultation discusses that Mauritius is pursuing an ambitious strategy to foster inclusive growth and reach the high-income country milestone. Several structural challenges, notably, a shortage of suitably skilled workers, an aging population, and declining productivity and cost competitiveness confront Mauritius in meeting these goals. The discussions focused on preserving fiscal sustainability, regaining external competitiveness, and maintaining financial integrity and stability. Several steps have been undertaken to boost skill development, improve the business climate, and build innovation capacity. On the expenditure side, economic activity is expected to be spurred in the near term by public spending on infrastructure projects and sustained in the medium term as those projects and productivity-enhancing reforms improve private-sector competitiveness. It is recommended to pursue fiscal consolidation from the forthcoming budget FY2019/20 to build fiscal credibility and set public debt firmly on a declining path into the medium term.
Finland
This 2017 Article IV Consultation highlights that Finland’s economic growth has picked up considerably, broadening to exports and equipment investment, and the current account is back to surplus. The economic recovery is expected to remain strong in the near term, but potential growth is constrained by labor market rigidities and aging. The IMF projects growth of 2.8 percent in 2017 and 2.3 percent in 2018. Better-than-expected fiscal outcomes in 2016 are projected to continue in 2017, but the public finances face long-term challenges from a declining working age population and escalating age-related spending. Avoiding a procyclical fiscal stance would help rebuild buffers over the medium term.
Republic of Equatorial Guinea
In May 2018, the IMF’s Management approved a 7-month Staff-Monitored Program (SMP), covering the period January 1–July 31, 2018. The main fiscal objectives of the SMP are to (i) reduce the budget deficit through non-hydrocarbon revenue mobilization and expenditure reduction while protecting social spending and (ii) address critical weaknesses in public financial management. The program also contains measures to improve the business climate, foster economic diversification, and lay the basis for improving governance and transparency. In addition, the program is providing a framework for bolstering capacity and helping build an adequate track record of performance as the basis for discussions on a potential Fund-supported program later this year.
