Download or read book Financial Sector Reform in Nicaragua written by Martin Barrett and published by . This book was released on 1990 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Nicaragua written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-09-05 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is a report of Nicaragua’s performance under the 2007–11 program. The period was marked by a stern financial crisis, price shocks, and disasters, but the program maintained the macroeconomic stability. Although the program had several hurdles, its achievements were remarkable—approval of tax reforms, improvements in banks' framework, power and electricity framework, dwindled poverty rate, and strong foreign relations. Overall, the Board is in high spirits in the triumph of the program in a critical situation though it had some flaws.
Download or read book Central America written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-05-09 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intraregional financial activity in Central America has grown substantially in the past decade, contributing to efficiency and economic development. At the same time, the expansion of activities by regional conglomerates has increased the challenges to supervisory authorities of containing the risks of contagion. Prepared as part of the Central America Financial Sector Regional Project by an IMF and World Bank staff team, this book outlines trends in the region's financial sector integration, supervisory responses, development of the insurance sector, payment and securities settlement arrangements, and worker remittances. It addresses the many common policy challenges facing Central American countries--Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama--in financial sector reform. The book offers key policy recommendations.
Download or read book Nicaragua Financial Sector Adjustment written by Violeta Rosenthal and published by . This book was released on 2002 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Nicaragua written by International Monetary Fund and published by International Monetary Fund. This book was released on 1996-11-25 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews economic developments in Nicaragua during 1990–96. During 1990–95, Nicaragua made substantial progress in policy implementation to reduce macroeconomic imbalances and to transform itself to a market-based economy. Fiscal and monetary policies were strengthened; most price controls were eliminated; and the foreign exchange and trade systems were liberalized. A program of public asset divestment was implemented and public employment and military outlays were cut substantially. An extensive reform of the banking system was initiated by allowing private sector participation in financial intermediation; interest rates were liberalized; and banking supervision was established.
Download or read book Nicaragua Telecommunications Sector Reform Project written by Nicaragua and published by . This book was released on 1999 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Central America written by Mr.Dominique Desruelle and published by International Monetary Fund. This book was released on 2008-11-24 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central America has made substantial progress in recent years in moving economic reforms forward and deepening regional and global integration. As result of these efforts, the region has experienced higher growth, increased capital inflows, and some reductions in poverty rates. But Central America remains vulnerable to adverse shocks and continues to face widespread poverty. While today Central America is in better condition to face such shocks, the current turmoil in global financial markets and U.S. growth slowdown could put at risk the hard-won gains of recent years. Faced with these challenges, the authorities are monitoring developments closely and are taking precautionary measures, but they also need to continue implementing productivity-enhancing reforms and measures aimed at reducing income inequality and poverty.
Download or read book Financial Sector Adjustment Lending written by Robert J. Cull and published by World Bank Publications. This book was released on 1997 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Reforming the International Financial System for Development written by Jomo Kwame Sundaram and published by Columbia University Press. This book was released on 2011-01-17 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1944 Bretton Woods conference created new institutions for international economic governance. Though flawed, the system led to a golden age in postwar reconstruction, sustained economic growth, job creation, and postcolonial development. Yet financial liberalization since the 1970s has involved deregulation and globalization, which have exacerbated instability, rather than sustained growth. In addition, the failure of Bretton Woods to provide a reserve currency enabled the dollar to fill the void, which has contributed to periodic, massive U.S. trade deficits. Our latest global financial crisis, in which all these weaknesses played a part, underscores how urgently we must reform the international financial system. Prepared for the G24 research program, a consortium of developing countries focused on financial issues, this volume argues that such reforms must be developmental. Chapters review historical trends in global liquidity, financial flows to emerging markets, and the food crisis, identifying the systemic flaws that contributed to the recent downturn. They challenge the effectiveness of recent policy and suggest criteria for regulatory reform, keeping in mind the different circumstances, capacities, and capabilities of various economies. Essays follow ongoing revisions in international banking standards, the improved management of international capital flows, the critical role of the World Trade Organization in liberalizing and globalizing financial services, and the need for international tax cooperation. They also propose new global banking and reserve currency arrangements.
Download or read book Nicaragua written by International Monetary Fund and published by International Monetary Fund. This book was released on 1999-11-02 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper describes economic developments in Nicaragua during the 1990s. During 1990–96, Nicaragua made substantial progress in reducing macroeconomic imbalances. Fiscal and monetary policies were strengthened, most price controls were eliminated, and foreign exchange and trade systems were liberalized. The structural reform program included privatization, the return to previous owners in the case of confiscated properties or liquidation of enterprises, which accounted for about 30 percent of GDP in 1990 and a reform of the banking system, including liberalization of interest rates and the establishment of an independent banking superintendency.
Download or read book Nicaragua Diagnostic Review of Consumer Protection in Financial Services written by Weltbank and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2010, over 92 percent of the assets in the Nicaraguan financial system were concentrated in the banking sector, while microfinance managed over 5 percent, and all the remaining segments covered less than 3 percent. Starting in the late 1990s and until 2007, the microfinance sector in Nicaragua has expanded robustly at 20 percent average annual growth rate and has been a significant factor of economic growth, particularly in the agricultural small and medium enterprise (SME) sector. The 2008 financial crisis led to a rapid deterioration of the microfinance credit portfolio and the microfinance lending contracted by nearly 20 percent in 2009. While partly this was due to spiking interest rates, over indebtedness and slowing demand, research has shown that inadequate consumer protection and low financial literacy in the microfinance sector also played a role. In order to improve Nicaraguan consumers' confidence in their financial institutions, this World Bank's diagnostic review presents strengthening consumer protection in five key areas. Volume I of the review summarizes the key findings and recommendations and volume II provides a detailed assessment of the Nicaraguan consumer protection institutional, legal, and regulatory framework compared to the good practices for three financial segments, namely banking, nonbank credit institutions, and insurance. Volume II also includes an annex that analyzes the results of a field research with financial consumers in Nicaragua.
Download or read book Strengthening Nicaragua s Financial Sector and Enhancing the Availability of Credit for Agricultural Producers written by Robert C. Vogel and published by . This book was released on 1991 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Nicaragua Development Policy Review written by Weltbank and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This document reviews Nicaragua's development agenda from a growth perspective. That focus emerges from the country's Poverty Reduction Strategy Paper (PRSP), which traces the widespread poverty observed in Nicaragua, to the collapse of the 1980s, and considers a continued, broadly-based economic recovery as the best way to eliminate it. The focus on growth guides the review of policy developments in various economic, social, and infrastructure sectors. The Development Policy Review (DPR) has the objective of providing analytical underpinnings, both for the Government in developing and refining its growth strategy, and the Bank and other donors, in designing their assistance programs for Nicaragua. The macroeconomic program agreed with the International Monetary Fund (IMF) seeks to promote sustained growth, and poverty reduction in a stable manner, by connecting the country's large fiscal, and external imbalances, addressing key vulnerabilities, and removing long-standing barriers to growth. Key focal points of the program are measures to improve governance, and accountability in the public, private sectors, rein in sustainable government spending, raise the tax effort, and strengthen the banking sector. On the structural front, significant advances were made in 2002 in education and health, including strengthening of the public sector management, through an integrated financial management system, and other important reforms. However, key macroeconomic challenges outline the country's continuing dependence on a few primary commodity exports and aid, both of which have contributed significantly to the high level of economic volatility. A second issue concerns the sustainability of Nicaragua's macroeconomic framework, a weak spot in policymaking, deserving careful attention. To address shortcomings, the report suggests accompanying the Fiscal Transfers Law with additional measures, or legislation that 1) defines the spending responsibilities; 2) strengthens project planning and executing capacities of the weaker municipalities; and, 3) establishes appropriate accountability, and financial management mechanisms. In addition, the pension reform initiated in the mid-1990s, seeks to replace the current defined-benefit, pay-as-you-go system, by a defined-contribution system. The status of the pension reform is being reviewed, reassessing its fiscal costs with assistance form the Bank.
Download or read book Nicaragua Diagnostic Review of Consumer Protection in Financial Services written by Weltbank and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2010, over 92 percent of the assets in the Nicaraguan financial system were concentrated in the banking sector, while microfinance managed over 5 percent, and all the remaining segments covered less than 3 percent. Starting in the late 1990s and until 2007, the microfinance sector in Nicaragua has expanded robustly at 20 percent average annual growth rate and has been a significant factor of economic growth, particularly in the agricultural small and medium enterprise (SME) sector. The 2008 financial crisis led to a rapid deterioration of the microfinance credit portfolio and the microfinance lending contracted by nearly 20 percent in 2009. While partly this was due to spiking interest rates, over indebtedness and slowing demand, research has shown that inadequate consumer protection and low financial literacy in the microfinance sector also played a role. In order to improve Nicaraguan consumers' confidence in their financial institutions, this World Bank's diagnostic review presents strengthening consumer protection in five key areas. Volume I of the review summarizes the key findings and recommendations and volume II provides a detailed assessment of the Nicaraguan consumer protection institutional, legal, and regulatory framework compared to the good practices for three financial segments, namely banking, nonbank credit institutions, and insurance. Volume II also includes an annex that analyzes the results of a field research with financial consumers in Nicaragua.
Download or read book Nicaragua Diagnostic Review of Consumer Protection in Financial Services written by World Bank and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2010, over 92 percent of the assets in the Nicaraguan financial system were concentrated in the banking sector, while microfinance managed over 5 percent, and all the remaining segments covered less than 3 percent. Starting in the late 1990s and until 2007, the microfinance sector in Nicaragua has expanded robustly at 20 percent average annual growth rate and has been a significant factor of economic growth, particularly in the agricultural small and medium enterprise (SME) sector. The 2008 financial crisis led to a rapid deterioration of the microfinance credit portfolio and the microfinance lending contracted by nearly 20 percent in 2009. While partly this was due to spiking interest rates, over indebtedness and slowing demand, research has shown that inadequate consumer protection and low financial literacy in the microfinance sector also played a role. In order to improve Nicaraguan consumers' confidence in their financial institutions, this World Bank's diagnostic review presents strengthening consumer protection in five key areas. Volume I of the review summarizes the key findings and recommendations and volume II provides a detailed assessment of the Nicaraguan consumer protection institutional, legal, and regulatory framework compared to the good practices for three financial segments, namely banking, nonbank credit institutions, and insurance. Volume II also includes an annex that analyzes the results of a field research with financial consumers in Nicaragua.
Download or read book Financial Sector Reform written by N. Mathieu and published by World Bank Publications. This book was released on 1998 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Soon after its declaration of independence, Lithuania launched a program of market-based economic reforms that achieved remarkable results. However, a banking crisis erupted in January 1996, driven by a combination of ineffective bank supervision, poor bank practices, and deep-rooted sectoral imbalances. With financial support from the World Bank, Lithuanian authorities embarked on a broad economic reform program with two immediate objectives: the resolution of the banking system's operational and undercapitalization problems, and a reduction in the most severe imbalances in the economy. Volume I (see ordering information below) distills findings and conclusions and builds a policy action plan for fast stable growth. Volume II contains a collection of twelve policy notes that provide the technical analysis behind that plan. Also available: Volume II/Analytical Backgroung(ISBN 0-8213-4327-0) Stock no. 14327.
Download or read book Rethinking Power Sector Reform in the Developing World written by Vivien Foster and published by World Bank Publications. This book was released on 2019-12-05 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the 1990s, a new paradigm for power sector reform was put forward emphasizing the restructuring of utilities, the creation of regulators, the participation of the private sector, and the establishment of competitive power markets. Twenty-five years later, only a handful of developing countries have fully implemented these Washington Consensus policies. Across the developing world, reforms were adopted rather selectively, resulting in a hybrid model, in which elements of market orientation coexist with continued state dominance of the sector. This book aims to revisit and refresh thinking on power sector reform approaches for developing countries. The approach relies heavily on evidence from the past, drawing both on broad global trends and deep case material from 15 developing countries. It is also forward looking, considering the implications of new social and environmental policy goals, as well as the emerging technological disruptions. A nuanced picture emerges. Although regulation has been widely adopted, practice often falls well short of theory, and cost recovery remains an elusive goal. The private sector has financed a substantial expansion of generation capacity; yet, its contribution to power distribution has been much more limited, with efficiency levels that can sometimes be matched by well-governed public utilities. Restructuring and liberalization have been beneficial in a handful of larger middle-income nations but have proved too complex for most countries to implement. Based on these findings, the report points to three major policy implications. First, reform efforts need to be shaped by the political and economic context of the country. The 1990s reform model was most successful in countries that had reached certain minimum conditions of power sector development and offered a supportive political environment. Second, countries found alternative institutional pathways to achieving good power sector outcomes, making a case for greater pluralism. Among the top performers, some pursued the full set of market-oriented reforms, while others retained a more important role for the state. Third, reform efforts should be driven and tailored to desired policy outcomes and less preoccupied with following a predetermined process, particularly since the twenty-first-century century agenda has added decarbonization and universal access to power sector outcomes. The Washington Consensus reforms, while supportive of the twenty-first-century century agenda, will not be able to deliver on them alone and will require complementary policy measures
