Zimbabwe faces uphill task normalising donor relations

2015 ◽  
Keyword(s):  
External Debt ◽  
Job Creation ◽  
Development Plan ◽  
Content Type ◽  
Finance Minister ◽  
Donor Relations ◽  
Labour Costs ◽  
The Government ◽  
Economic Outlook

Subject Zimbabwe economic outlook. Significance On November 26 Finance Minister Patrick Chinamasa presented the 2016 budget articulating the government's IMF-backed plan to clear the backlog of external debt arrears to international creditors. The aim is to normalise relations with Western donors after 15 years of isolation. The government faces a deepening employment crisis, an unfunded development plan and deflationary risks. Impacts The Labour Amendment Bill adopted in August will raise labour costs and discourage job creation. Some deals signed during Xi's visit such as funding for fibre optic broadband may improve long-term competitiveness. However, others such as an agreement for a new Chinese-built parliament will add to the debt load.

Saudi subsidy reforms unlikely to spark major protests

2016 ◽  
Keyword(s):  
Fuel Oil ◽  
Basic Part ◽  
Content Type ◽  
The Social ◽  
Political Impact ◽  
The Face ◽  
The Government ◽  
Crown Prince ◽  
Economic Outlook

Subject Political impact of subsidy reform. Significance Saudi Arabia introduced its first major cut to energy subsidies in January, leading to a rise in petrol, diesel, fuel oil, natural gas and electricity prices. Further cuts will be necessary to avert a fiscal crisis -- but with cheap energy seen as a basic part of the social contract between the government and the population, such measures are expected to have wide-reaching political repercussions. Impacts A decision to reverse subsidy cuts in the face of protest would undercut government credibility and reduce the prospect of further reforms. Yet persisting with subsidy reforms could damage government legitimacy and political capital among the youth and lower classes. Successful reforms will improve the long-term economic outlook, and the succession prospects of Deputy Crown Prince Mohammed bin Salman.

Nigerian naira will stay static despite high oil price

2018 ◽  
Keyword(s):  
Exchange Rate Regime ◽  
External Debt ◽  
Main Interest ◽  
Content Type ◽  
Multiple Exchange ◽  
The Government ◽  
The Impact ◽  
Capital Intensive ◽  
Impact Of Falling

Subject Nigeria's forex dynamics Significance The multiple exchange rate regime of the Central Bank of Nigeria (CBN) has been vindicated by the naira’s stability over the last nine months. However, the ongoing segmentation of the foreign exchange (forex) market means that each of its windows now has its own set of fundamental drivers, blunting the ability of rising dollar inflows from high oil prices to bring currency appreciation. While this arrangement benefits imports as the government implements its capital-intensive economic recovery plan, it comes at the expense of non-oil private sector growth which has struggled to maintain upward momentum since the end of the recession last year. Impacts The CBN’s decision to hold its main interest rate at a record 14% signals lingering concerns over IEFX outflows ahead of the 2019 elections. The government’s push to re-balance its debt profile by increasing the ratio of external debt will weigh on the naira’s long-term outlook. The impact of falling inflation on the naira is ambiguous given existing import bans and the lack of monetary policy response from the CBN.

Jamaican budget offers stability, but risks persist

2015 ◽  
Keyword(s):  
Public Sector ◽  
Fiscal Year ◽  
Investment Climate ◽  
Content Type ◽  
Finance Minister ◽  
The Government ◽  
Economic Outlook

Subject Jamaica's economic outlook. Significance The government has worked hard to stabilise the economy after several years of uncertainty. Its policies for the next fiscal year, presented by the finance minister on March 12, set out plans to maintain stability and lay the groundwork for re-invigorating growth. Impacts Sluggish growth will only be boosted by improved productivity and a better investment climate. The debt-to-GDP ratio is unlikely to fall to 100% -- until at least 2020. Continued public sector wage freezes risk undermining support for the economic programme.

Kenya budget strains escalate debt distress risks

2015 ◽  
Keyword(s):  
Real Estate ◽  
Interest Rates ◽  
Fiscal Year ◽  
Content Type ◽  
Revenue Collection ◽  
Finance Minister ◽  
Fiscal Space ◽  
The Government ◽  
Bank Risks ◽  
Economic Outlook

Subject Kenya's economic outlook. Significance Finance Minister Henry Rotich on October 21 announced intentions to implement austerity measures, but without providing details. The July budget for fiscal year 2015-16 revealed shortfalls in revenue collection, expenditure overruns and higher domestic borrowing costs. While thin on details, Rotich's announcement signals that the government may be acknowledging the liquidity crunch that has concerned the Central Bank of Kenya (CBK) since June. Impacts Mounting debt obligations could narrow fiscal space available for growth-enhancing infrastructure. Growth expectations for 2015-16 of 6.0% (compared to 5.3% in 2014-15) are over-ambitious. High domestic interest rates may spur non-performing loans, raising bank risks and hurting real estate growth.

Using system dynamics to evaluate renewable electricity development in Malaysia

Kybernetes ◽  
2014 ◽  
Vol 43 (1) ◽  
pp. 24-39 ◽  
Author(s):  
Salman Ahmad ◽  
Razman bin Mat Tahar
Keyword(s):  
System Dynamics ◽  
Fossil Fuels ◽  
Systems Approach ◽  
Capacity Expansion ◽  
Assessment Model ◽  
Flow Diagram ◽  
Content Type ◽  
The Government ◽  
Policy Targets

Purpose – The purpose of this paper is to provide an assessment of Malaysia's renewable capacity target. Malaysia relies heavily on fossil fuels for electricity generation. To diversify the fuel-mix, a technology-specific target has been set by the government in 2010. Considering the complexity in generation expansion, there is a dire need for an assessment model that can evaluate policy in a feedback fashion. The study also aims to expand policy evaluation literature in electricity domain by taking a dynamic systems approach. Design/methodology/approach – System dynamics modelling and simulation approach is used in this study. The model variables, selected from literature, are constituted into casual loop diagram. Later, a stock and flow diagram is developed by integrating planning, construction, operation, and decision making sub-models. The dynamic interactions between the sub-sectors are analysed based on the short-, medium- and long-term policy targets. Findings – Annual capacity constructions fail to achieve short-, medium- and long-term targets. However, the difference in operational capacity and medium- and long-term target are small. In terms of technology, solar photovoltaic (PV) attains the highest level of capacity followed by biomass. Research limitations/implications – While financial calculations are crucial for capacity expansion decisions, currently they are not being modelled; this study primarily focuses on system delays and exogenous components only. Practical implications – A useful model that offers regulators and investors insights on system characteristics and policy targets simultaneously. Originality/value – This paper provides a model for evaluating policy for renewable capacity expansion development in a dynamic context, for Malaysia.

The South African public service wage bill deadlock in 2021: living on the edge

2021 ◽  
Vol 11 (4) ◽  
pp. 1-15
Author(s):  
Marianne Matthee ◽  
Albert Wöcke
Keyword(s):  
Fiscal Policy ◽  
Learning Outcomes ◽  
South African ◽  
Public Service ◽  
Subject Area ◽  
The South ◽  
Content Type ◽  
Academic Level ◽  
Finance Minister ◽  
The Government

Subject area Macro-Economics. Study level/applicability Undergraduate and MBA. Case overview The COVID 19 pandemic-related restrictions devastated South Africa’s economy in 2020 and although the restrictions were generally less damaging than in 2020, the government had to budget for vaccinations and rebuild the economy. Public service unions had just announced that they were demanding an increase of 4% above inflation for their members and that they were preparing for a strike. They were bitter about the fact that the South African Government had withdrawn from the last year of a three-year wage agreement in February 2020 and their members had not received an increase for the two years. These demands and Finance Minister Mboweni’s response to them had to consider the structural and cyclical impact on the fiscus and economy. Expected learning outcomes The learning outcomes are as follows: understand the general objectives of fiscal policy and stakeholders’ interests; understand the tradeoffs in fiscal policy and the implications of taking a position; and make recommendations based on reasoned judgements about those recommendations. Complexity academic level Undergraduate and MBA level courses on Macro Economics. Supplementary materials Teaching notes are available for educators only. Subject code CSS 10: Public Sector Management.

Import obstacles will slow Argentine economic rebound

2021 ◽  
Keyword(s):  
Spillover Effect ◽  
Exchange Market ◽  
Luxury Goods ◽  
Content Type ◽  
Product Availability ◽  
Regulatory Changes ◽  
High Inflation ◽  
Red Tape ◽  
The Government

Significance In January, the Central Bank of Argentina restricted access to the official exchange market for imports of some luxury goods, while the government asked companies to present their foreign trade estimates for 2021 and suggested that it would not approve any rise in imports unless this was offset with higher exports. Importers are facing mounting delays, which raise costs and hamper domestic production by restricting access to inputs. Impacts Higher import costs due to red-tape delays and shortages of product availability will fuel already high inflation. Frequent regulatory changes will discourage long-term investments and damage importers’ relations with foreign suppliers. Import controls will hit the auto sector hard, with a negative spillover effect in manufacturing more broadly.

Tourism public-private partnership (PPP) projects: an exploratory-sequential approach

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Marwa Ghanem ◽  
Ibrahim Elshaer ◽  
Samar Saad
Keyword(s):  
Interpersonal Relationships ◽  
Service Providers ◽  
Stakeholder Management ◽  
Comprehensive Overview ◽  
Sequential Approach ◽  
Essential Information ◽  
Content Type ◽  
The Government ◽  
The Relationship

Purpose This study aims to address the absence of a thorough understanding of commitment in tourism public-private partnerships (PPP) by exploring antecedents of PPP commitment and their underpinning relationships in regard to the destination management system (DMS). Design/methodology/approach An empirical investigation of the case of the Egyptian DMS, a PPP which was forsaken by the government partner and which subsequently failed. Qualitative and quantitative approaches are used for a comprehensive overview of the researched phenomena pertaining to external and internal stakeholders. Findings The results indicated that stakeholder management, relational capital, perceived benefits and stakeholder capabilities could influence intentions to commit to a tourism PPP project. Also, the latter three factors were found to mediate the relationship between stakeholder management and long-term PPP commitment. The results also shed light on the important aspects of non-contractual, interpersonal relationships between internal and external PPP stakeholders. Originality/value This research pioneers inquiries on the commitment of Tourism PPP/DMS projects and its possible drivers in a non-Western context. Also, this study contributes to knowledge by exploring the relationship within and between internal (partners) and external (e.g. local service providers) stakeholder groups and provided evidence on the crucial role of both on long-term PPP commitment and success. The current study has a few significant contributions to the PPP literature regarding the commitment and success of PPP in the complicated environments in which tourism PPP projects are operated. Moreover, this study offers essential information and practices for improving partner relationships with external stakeholders.

Growth prospects, market challenges and policy measures: evolution of mobile broadband in Pakistan

2018 ◽  
Vol 20 (1) ◽  
pp. 42-61 ◽  
Author(s):  
Muhammad Shehzad Hanif ◽  
Shao Yunfei ◽  
Muhammad Imran Hanif
Keyword(s):  
Developing Country ◽  
Service Providers ◽  
Supply And Demand ◽  
Economic Benefits ◽  
Content Type ◽  
Mobile Broadband ◽  
Broadband Service ◽  
Policy Measures ◽  
The Government

Purpose The paper aims to explore the long-term prospects of mobile broadband adoption in a developing country. The supply-side and demand-side policy measures are recommended to counter the challenges to broadband adoption. Design/methodology/approach Methodologically, this study uses document analysis to explain secondary data including growth statistics, trade literature and previous scholarly research. Based on the growth statistics of broadband and the informed market insights, the research discusses the prevailing market threats and recommends counter measures to improve the long-term prospects of broadband propagation. Findings The growth of mobile broadband is settling down in Pakistan due to various barriers like cost, literacy, security and unavailability of local content. Collaborative efforts are required by the government, the service providers and the people to enhance the adoption of broadband service and secure economic benefits of the broadband. Practical implications The research offers useful implications for managers and policymakers in Asian and African developing countries; the policy measures discussed here may serve as guidelines for them in the design of their own policies regarding broadband supply and demand. Originality/value The study makes an effort to examine the broadband growth in a developing country on the basis of both quantitative and qualitative aspects. The research endeavors to fill the gap on the particular scholarship of research covering potential uptake of broadband services and the effects of constraining elements to broadband adoption in a developing country.

Forty years of rural reform in China: retrospect and future prospects

2019 ◽  
Vol 11 (3) ◽  
pp. 460-470 ◽  
Author(s):  
Xiwen Chen
Keyword(s):  
Rural Areas ◽  
Agricultural Policies ◽  
Timely Manner ◽  
Content Type ◽  
Rural Reform ◽  
Fields Of Study ◽  
The Future ◽  
The Government

Purpose Bottlenecked by rural underdevelopment, China’s overall development is bound to be inadequate and unbalanced. Through a brief retrospect of the reform directed against the “equalitarianism (egalitarianism)” in China’s rural areas, as well as the Chinese Government’s conceptual transformation and systemic construction and improvement thereof, the purpose of this paper is to clarify the panoramic significance of rural reform; the necessity, priority, and long-term nature of the current rural development; and the important role of public policy in doing so. It also looks ahead to consider the prospects for future rural reform. Design/methodology/approach This paper first reviews the rural reforms that were carried out in 1978. Second, it introduces the government’s conceptual change regarding rural reform and the establishment and improvement of the system that underlies it. Finally, the future of rural reform is envisaged. Findings The initial rural reforms brought extensive and profound changes to China’s rural areas. The experience of rural reform has been referred to and escalated by other fields of study. Hence, rural reforms have become something of global significance. Moreover, since the government can undertake reforms well beyond the reach of farmers, its views must be modified in a timely manner, and only then may it reasonably construct and improve the system pertaining to the “three rural issues (agriculture, rural areas, and farmers).” Originality/value This paper reviews the rural reforms carried out in 1978. It introduces the government’s change of concept with respect to rural reforms and the establishment and improvement of the system based on the “three rural issues,” thus looking forward to the future of rural reforms. The findings of this paper are of significance to the formulation of future agricultural policies.

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