New Ethiopian cabinet gears up for next economic plan

2015 ◽  
Keyword(s):  
Development Strategy ◽  
Sovereign Debt ◽  
Prime Minister ◽  
Oil Prices ◽  
Middle Income Country ◽  
Balance Of Payments ◽  
Second Phase ◽  
Middle Income ◽  
Content Type ◽  
State Enterprises

Subject Ethiopia's new government line-up. Significance Following his re-election for a five-year term in early October, Prime Minister Hailemariam Desalegn announced a cabinet reshuffle. The changes come amid final preparations for the second phase of the Growth and Transformation Plan (GTP II), an ambitious development strategy that seeks to turn Ethiopia into a middle-income country by 2025. Impacts Ethiopia is likely to issue a new euro-bond to mobilise additional funds for GTP II. Sovereign debt levels are manageable, but off-budget loans to state enterprises may cause future distress. Low oil prices are beneficial for managing balance-of-payments and foreign-exchange strains.

Authoritarian Bangladeshi rulers will focus on exports

2016 ◽  
Keyword(s):  
Human Rights ◽  
Foreign Investment ◽  
Prime Minister ◽  
Political Stability ◽  
Middle Income Country ◽  
Middle Income ◽  
Content Type ◽  
The Government ◽  
Bangladeshi Migrants ◽  
Economic Ties

Significance Attacks against intellectuals and activists since 2013 have generated widespread international outrage. However, the priorities of Prime Minister Shaikh Hasina's government lie elsewhere. Relative political stability has improved the economy, emboldening the government to aim for 'middle income' country status by 2021. Impacts Growth of garment exports will accelerate, creating opportunities for foreign investment. Deeper economic ties with China will reduce Dhaka's responsiveness to Western criticisms on human rights. Bangladesh-China ties will worry India, but the BJP will not soften its stance on Bangladeshi migrants for political reasons.

Boards and governance of state-owned enterprises

2014 ◽  
Vol 14 (2) ◽  
pp. 238-251 ◽  
Author(s):  
Samuel Nana Yaw Simpson
Keyword(s):  
Corporate Governance ◽  
Public Sector ◽  
Boards Of Directors ◽  
Evaluation Criteria ◽  
Executive Directors ◽  
Middle Income ◽  
Content Type ◽  
And Performance ◽  
Legal Frameworks ◽  
State Enterprises

Purpose – This study aims to examine the structure, attributes, and performance of boards of directors of state-owned enterprises (SOEs) within the broader context of public sector governance. This is informed by the less attention given to the concept among public sector organizations despite efforts to make state enterprises more effective and efficient, especially in developing and middle income countries. Design/methodology/approach – Data was collected through questionnaires self-administered in 2010 to all 25 SOEs in Accra, Ghana, out of the 29 nationwide. Some key officials were interviewed and documentary evidence analyzed to achieve triangulation of data and results. Findings – Results show that state-owned enterprises have boards and comply with the minimal governance issues outlined the legal frameworks establishing them. However, they exhibit significant weaknesses in the areas of board performance evaluation, criteria for board appointment, the balance of executive directors and non-executive directors, and other board characteristics, indicating a departure from general practices. Practical implications – Findings suggest the need for a tailored corporate governance framework or code for state-owned enterprises in developing countries. Originality/value – Compared to the literature, this study provides insight on boards from the perspective of state enterprises in ensuring good corporate governance, particularly in the context of a middle income country (Ghana).

Rwandan model’s longevity will depend on donor support

2018 ◽  
Keyword(s):  
Democratic Republic ◽  
Middle Income Country ◽  
Income Country ◽  
Middle Income ◽  
Content Type ◽  
Public Events ◽  
Governance Model ◽  
Donor Support ◽  
Republic Of The Congo ◽  
National Congress

Subject Rwanda's governance model. Significance The ruling Rwandan Patriotic Front (RPF) celebrated its 30th anniversary in late 2017 with a series of major public events. Taken together, they provide a lens onto President Paul Kagame and the RPF’s rule -- and the very nature of power in Rwanda today. In particular, they demonstrate the extent to which the national political space now revolves around the figure of Kagame himself. Impacts Despite impressive development gains, Rwanda’s goal of becoming a middle-income country by 2020 remains ambitious. The Rwanda National Congress, which includes many former senior RPF figures, is the main opposition threat, but faces internal divisions. Regional insecurity in Burundi and the Democratic Republic of the Congo could be destabilising if it spills across borders.

Confrontation with Iraq’s militias may come to a head

2020 ◽  
Keyword(s):  
Prime Minister ◽  
Oil Prices ◽  
International Aid ◽  
Financial Assistance ◽  
Content Type ◽  
The Us ◽  
Double Hit ◽  
Will Force

Significance This followed five rocket attacks on the US-led coalition in the last two weeks, which killed two US and one UK citizen. It also came two days after Kurdish President Barham Salih named Adnan al-Zurfi, a US-linked Shia nationalist politician, as the new prime minister-designate. Impacts Washington may hold back its response to attacks in order to further Zurfi’s ratification. A massive double hit from low oil prices and COVID-19 will force Iraq to seek more international aid. A Zurfi government could improve Iraq’s chances of gaining Western and Gulf financial assistance.

Ecuadorian government seeks to boost oil activity

2015 ◽  
Keyword(s):  
Primary Source ◽  
Oil Prices ◽  
World Market ◽  
Balance Of Payments ◽  
Oil Fields ◽  
Content Type ◽  
Oil Companies ◽  
Oil Sector ◽  
The Government ◽  
Total Oil

Subject The outlook for the oil sector. Significance While Ecuador is the smallest member of OPEC, oil is its largest export and the government's primary source of revenue. The collapse of world oil prices has forced the government to introduce import controls to support the balance of payments and cut public spending to reduce the budget deficit. However, rising levels of oil production have softened the blow of falling oil prices. The government hopes to continue this trend by attracting new investment into the oil sector, despite the downturn in the world market. Impacts The perilous state of the balance of payments and public finances will increase the need to attract new foreign investment into oil. Chinese oil companies are likely to increase their presence in Ecuador, reflecting trends elsewhere in Latin America. Development of the oil fields previously integrated into Yasuni/ITT should increase total oil output significantly from 2018-19.

Ukrainian cabinet faces tough economic conditions

2016 ◽  
Keyword(s):  
At Risk ◽  
Prime Minister ◽  
Balance Of Payments ◽  
Living Standards ◽  
Economic Conditions ◽  
Content Type ◽  
Structural Problems ◽  
Competing Demands ◽  
Public Approval ◽  
The Imf

Subject The economic challenges facing the Ukrainian government. Significance Ukraine's new prime minister, Volodymyr Groisman, must manage competing demands, domestic and external. External lenders, principally the IMF, are pressing him to carry out overdue reforms that are likely to bring pain to the average Ukrainian hoping for swift improvements in living standards. As well as the ongoing conflict in the east, structural problems are constraining growth. Impacts A resumption in IMF payments will help the balance of payments and work towards currency stability. Slow and patchy recovery is unlikely to translate into higher wages and incomes. The Groisman government is unlikely to win public approval if conditions improve. Its survival will be at risk if there is no discernable change for the better.

Kazakhstan poll will be about stability not succession

2016 ◽  
Keyword(s):  
Decision Making ◽  
At Risk ◽  
Prime Minister ◽  
Public Support ◽  
Oil Prices ◽  
Economic Downturn ◽  
Social Stability ◽  
Content Type ◽  
Local Assembly

Significance The vote comes amid an unprecedented economic downturn caused by a combination of factors: low oil prices, recession in Russia and slowdown in China. President Nursultan Nazarbayev called early elections in January in a bid to maintain social stability until oil prices stabilise or increase. His personal credibility is less at risk than that of government members directly in charge of the economy, and one way of deflecting criticism would be to get the new parliament to dismiss Prime Minister Karim Massimov. Impacts The Majilis will play a marginal role in decision-making, and despite its apparent dominance, Nur Otan will have little say. The few remaining opposition groups will be subjected to harassment and prosecution to prevent them mobilising public support. Nur Otan will win local assembly elections taking place simultaneously.

Russia will prioritise economic stability

2015 ◽  
Keyword(s):  
Prime Minister ◽  
Oil Prices ◽  
Economic Stability ◽  
Content Type ◽  
Finance Minister

Significance The event typically serves as a barometer of economic confidence in Russia. Last year, few significant deals were announced, and foreign delegates were fewer in number than usual. This year, the message was that the Kremlin will focus on ensuring economic stability in a time of geopolitical turbulence rather than wide-ranging reforms. Impacts Kremlin will continue to hope and gamble on a return to high oil prices. Russia will retaliate against the continuation of EU sanctions decided on June 22 with an agriculture import ban. Speculation will grow over former finance minister Alexei Kudrin's possible return to politics as prime minister.

Cheap oil will test Nigerian banks' resilience

2015 ◽  
Keyword(s):  
Monetary Policy ◽  
Banking Sector ◽  
Oil Prices ◽  
Bank Lending ◽  
Balance Of Payments ◽  
Content Type

Significance The first policy loosening in more than six years highlights government concerns about the challenging outlook for bank lending. The plunge in global oil prices and sharp depreciation of the naira are severely testing the resilience of the recently reformed banking sector. Impacts The rate cut reveals that the government's priority is to boost the lending environment over using tighter monetary policy as a stabiliser. However, the effect of the stimulus on inflation and growth will only become apparent next year. Balance-of-payments crisis warnings do not take into account fairly sound debt ratios and reserve levels.

China's tax cuts seek growth boost and poverty relief

2018 ◽  
Keyword(s):  
Low Income ◽  
Income Tax ◽  
Prime Minister ◽  
Standing Committee ◽  
Middle Income ◽  
Content Type ◽  
Poverty Relief ◽  
Government Work ◽  
People's Congress ◽  
Income Tax Reform

Subject Income tax reform in China. Significance As promised by Prime Minister Li Keqiang in his 2018 Government Work Report, the Standing Committee of the National People's Congress has passed on August 31 an amendment to China's individual income tax. It slashes tax for low-income and middle-income earners, in an effort to keep up with the rapid increase in living costs and better redistribute wealth in one of the most unequal countries in the world, with a Gini coefficient for income of about 0.40. Impacts Recent comments by the Constitution and Law Committee signal that the law may soon be amended again. Important changes to residency rules will have an impact on foreign nationals living in China. New tax residence and anti-avoidance rules will eliminate loopholes and allow for a more efficient tax collection.

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