Russian regions are to halve deficits this year

2021 ◽  
Keyword(s):  
Central Government ◽  
Russian Regions ◽  
Content Type ◽  
Ageing Populations

Significance Last year, these transfers hit a record level, as Moscow issued extra money to help regions cope with the COVID-19 pandemic, but this was still not enough to cover all their outgoings. Impacts Central government is to make RUB500bn loans available to less indebted regions to support investment in infrastructure. Ageing populations will necessitate higher spending on regional infrastructure in the medium-to-long term. Regions will weigh environmental, social and governance (ESG) bond issuance, as much of their spending is socially focused.

Jihadists will slow stabilisation of Yemen's south

2015 ◽  
Keyword(s):  
Saudi Arabia ◽  
United Arab Emirates ◽  
Central Government ◽  
The South ◽  
Content Type ◽  
State Actors ◽  
The Government ◽  
Crown Prince ◽  
Government Authority

Significance The bombing represents the latest setback to Saudi Arabia and the United Arab Emirates (UAE)'s efforts to stabilise southern Yemen and reinstall the government of President Abd Rabbu Mansour Hadi. ISG is just one of a number of sub-state actors that have been empowered by the conflict and that will seek to challenge central government authority. Impacts Insecurity in Aden will deal a blow to the legitimacy of the Saudi-backed Hadi government. A major setback in the south will reflect badly on the reputation of Saudi Defence Minister Deputy Crown Prince Mohammed bin Salman. Reconstruction efforts in southern Yemen will place increased long-term strain on the Saudi budget in particular. Southern Yemen could emerge as a key battleground in the rivalry between al-Qaida and ISG for leadership of the global jihad.

Mexico power centralisation will bring heavy criticism

2019 ◽  
Keyword(s):  
Public Sector ◽  
Central Government ◽  
State Governments ◽  
Public Servants ◽  
Content Type ◽  
The Public ◽  
State Capture

Subject Balance of powers in Mexico. Significance Since taking office last year, President Andres Manuel Lopez Obrador (AMLO) and his National Renovation Movement (Morena) have taken several measures to make savings in the public sector and to allocate resources to tackling poverty and corruption. Such goals enjoy widespread support, but some of the mechanisms employed to achieve them are concentrating power with the central government. The areas most affected include constitutionally autonomous entities within the administration, other branches of government such as the judiciary, and state governments. Impacts Given the role of poorly paid public servants in state capture, salary cuts may prove counterproductive in fighting corruption. Without a system that impartially investigates, prosecutes and sanctions wrongdoing by public servants, corruption will not abate. Centralisation will strengthen the administration initially but leave it vulnerable in the long term when things do not work as intended.

Mounting provincial debt will add to Argentina risks

2019 ◽  
Keyword(s):  
Financial Crisis ◽  
Central Government ◽  
Global Markets ◽  
Fiscal Discipline ◽  
Content Type ◽  
Debt Burden ◽  
Comprehensive Reform ◽  
Will Force ◽  
Spending Cuts

Subject The outlook for provincial debt. Significance On September 3, Moody’s downgraded the debt rating of ten sub-national jurisdictions. Since the 2016 deal with holdout creditors, most provinces have been active debt issuers in local and global markets. Thus the debt ‘reprofiling’ announced by the central government in late August, and the higher debt burden due to the combination of recession and devaluation, are raising concerns about their ability to keep servicing their debt. Impacts In the event of a new debt restructuring, limited access to capital markets will force provincial spending cuts. If the financial crisis deepens, provincial debt could again be bailed out by the central government. A more comprehensive reform of provincial finances will be needed to improve fiscal discipline in the long term.

The issue of sustainability in a highly centrally regulated fiscal model of local governments: an empirical study

2020 ◽  
Vol 33 (6) ◽  
pp. 669-689 ◽  
Author(s):  
András Bethlendi ◽  
Csaba Lentner ◽  
László Nagy
Keyword(s):  
Financial Management ◽  
Local Governments ◽  
Central Government ◽  
Annual Reports ◽  
Social Characteristics ◽  
Financial Sustainability ◽  
Soft Budget Constraint ◽  
Data Set ◽  
Content Type

Purpose This study aims to assess the sustainability of local governments in a highly centrally regulated fiscal model. Design/methodology/approach This paper uses a novel approach, a broad data set of almost 3,200 local governments and network methods. This paper analyses financial data from annual reports and other socio-economic sources using cluster analysis. Findings Even in this model, local governments show significant differences in terms of long-term sustainability. Investments do not compensate for the depreciation of tangible assets at a significant part of local governments. A specific type of soft budget constraint can be noticed. Heads of local governments do not “play” for subsequent ad hoc bailouts by the central government, but rather engage themselves in political competition for development subsidies. A further finding of this study is that shrinking populations itself does not explain the differences in local governments’ financial management. Research limitations/implications Further directions of research include the application of an extended approach to sustainability that gives an account of the availability and quality of local services, as well as aims to identify the qualitative social characteristics (success criteria) of the local government financial management. Practical implications The findings can be useful for policymakers, state audit offices, auditors, voters, users of public services and other stakeholders. Social implications The paper argues in favour of moving away from the financial balance in its narrow sense to a long-term and broader term of financial sustainability. Originality/value The findings provide new empirical evidence about the accounting-based measurement of financial sustainability in local governments.

The renminbi will gradually check dollar dominance

2020 ◽  
Keyword(s):  
Central Government ◽  
Exchange Rate Flexibility ◽  
Government Bonds ◽  
Content Type ◽  
Bond Funds ◽  
Payments Systems ◽  
Global Access ◽  
Global Influence ◽  
The Eu

Significance The share of Chinese central government bonds held by foreigners rose to 8% at end-October, from 1.2% at end-2019 as Chinese stock and bond funds were included in global indexes. The comments of Yi and others give salience to discussion of the renminbi challenging the dollar's pre-eminence as a global currency and reflect Beijing’s concern about US attempts to use the dollar’s dominance to contain its global influence. Impacts US use of financial and economic sanctions will encourage cross-border payments systems that can isolate transactions from the dollar. China will cautiously liberalise its capital account, raise renminbi exchange-rate flexibility and improve liquidity in its bond market. The EU, Switzerland and Japan do not want 'safe-haven' inflows because of the risk of currency appreciation hurting their real economies. At times of financial market stress (eg, COVID-19) the onus is on the Federal Reserve (Fed) to ensure adequate global access to dollars. The build-up of US debt during the pandemic poses a long-term risk to the dollar's status if US growth weakens permanently.

Kenya devolution hurt by local political contests

2015 ◽  
Keyword(s):  
Central Government ◽  
County Governments ◽  
Content Type ◽  
Popular Support ◽  
Turn On ◽  
Political Landscape ◽  
Job Growth ◽  
Multiple Challenges ◽  
Transformational Development

Subject Devolution in Kenya. Significance The 47 county governments created under the 2010 constitution and voted into office during the 2013 elections represent a powerful new tier of administration in Kenya's political landscape. Nearly two years on, the contours of devolution in practice, and the challenges of implementation, are becoming clearer. Impacts Devolution will not overcome its multiple challenges without the support of the central government, a commitment that is often questioned. Popular support for devolution will not waver easily, though confidence in elected officials could turn on development success. Counties will rarely wield the resources to enact the sort of transformational development that can improve long-term job growth.

Sustainability of Brazilian public debt: a structural break analysis

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Eduardo Lima Campos ◽  
Rubens Penha Cysne
Keyword(s):  
Fiscal Policy ◽  
Structural Breaks ◽  
Central Government ◽  
Structural Break ◽  
Model Specification ◽  
Content Type ◽  
Estimated Parameters ◽  
Before And After ◽  
Stationarity Test

PurposeThe objective of this work is to investigate the existence of structural breaks in multicointegration models estimated for Brazilian fiscal variables and to identify their effects on the sustainability or not of this country`s fiscal policy between December 1997 and June 2018.Design/methodology/approachThe authors apply the econometric multicointegration method, in order to analyze long-term relationships between accumulated revenue and expenses of Brazilian central government and the stock of its debt, incorporating structural breaks, over the study period.FindingsThe unsustainability of the debt/GDP ratio is found here, as in a previous work, but now considering a structural break. As one of the contributions, the present work makes it possible to identify the date as of which Brazilian fiscal policy may have become unsustainable: May 2014.Originality/valueThe work points out the worsening of Brazilian fiscal situation as of 2014. The authors adapted original methodologies both in model specification and in the stationarity test used. The estimated parameters before and after structural break allow for identifying changes in fiscal variables that may have led to unsustainability, thus providing possible guidance for fiscal policy.

Central Otago - Built on gold, growing on grass.

2014 ◽  
Vol 76 ◽  
pp. 15-23
Author(s):  
Barrie J. Wills
Keyword(s):  
Economic Growth ◽  
Land Use ◽  
National Economy ◽  
Local Community ◽  
Central Government ◽  
Future Generations ◽  
Economic Potential ◽  
District Council ◽  
Definition Of

A warm welcome to our "World of Difference" to all delegates attending this conference - we hope your stay is enjoyable and that you will leave Central Otago with an enhanced appreciation of the diversity of land use and the resilient and growing economic potential that this region has to offer. Without regional wellbeing the national economy will struggle to grow, something Central Government finally seems to be realising, and the Central Otago District Council Long Term Plan 2012-2022 (LTP) signals the importance of establishing a productive economy for the local community which will aid in the economic growth of the district and seeks to create a thriving economy that will be attractive to business and residents alike. Two key principles that underpin the LTP are sustainability and affordability, with the definition of sustainability being "… development that meets the needs of the present without compromising the ability of future generations to meet their own needs."

Dual-isotope single-photon emission computerized tomography scanning in patients with glioblastoma multiforme: association with patient survival and histopathological characteristics of tumor after high-dose radiotherapy

1998 ◽  
Vol 89 (1) ◽  
pp. 60-68 ◽  
Author(s):  
Richard B. Schwartz ◽  
B. Leonard Holman ◽  
Joseph F. Polak ◽  
Basem M. Garada ◽  
Marc S. Schwartz ◽  
...  
Keyword(s):  
Survival Rate ◽  
Glioblastoma Multiforme ◽  
Single Photon ◽  
Photon Emission ◽  
High Dose ◽  
Term Survival ◽  
Content Type ◽  
Dual Isotope ◽  
Fine Print

Object. The study was conducted to determine the association between dual-isotope single-photon emission computerized tomography (SPECT) scanning and histopathological findings of tumor recurrence and survival in patients treated with high-dose radiotherapy for glioblastoma multiforme. Methods. Studies in which SPECT with 201Tl and 99mTc-hexamethypropyleneamine oxime (HMPAO) were used were performed 1 day before reoperation in 47 patients with glioblastoma multiforme who had previously been treated by surgery and high-dose radiotherapy. Maximum uptake of 201Tl in the lesion was expressed as a ratio to that in the contralateral scalp, and uptake of 99mTc-HMPAO was expressed as a ratio to that in the cerebellar cortex. Patients were stratified into groups based on the maximum radioisotope uptake values in their tumor beds. The significance of differences in patient gender, histological characteristics of tissue at reoperation, and SPECT uptake group with respect to 1-year survival was elucidated by using the chi-square statistic. Comparisons of patient ages and time to tumor recurrence as functions of 1-year survival were made using the t-test. Survival data at 1 year were presented according to the Kaplan—Meier method, and the significance of potential differences was evaluated using the log-rank method. The effects of different variables (tumor type, time to recurrence, and SPECT grouping) on long-term survival were evaluated using Cox proportional models that controlled for age and gender. All patients in Group I (201Tl ratio < 2 and 99mTc-HMPAO ratio < 0.5) showed radiation changes in their biopsy specimens: they had an 83.3% 1-year survival rate. Group II patients (201T1 ratio < 2 and 99mTc-HMPAO ratio of ≥ 0.5 or 201Tl ratio between 2 and 3.5 regardless of 99mTc-HMPAO ratio) had predominantly infiltrating tumor (66.6%); they had a 29.2% 1-year survival rate. Almost all of the patients in Group III (201Tl ratio > 3.5 and 99mTc-HMPAO ratio ≥ 0.5) had solid tumor (88.2%) and they had a 6.7% 1-year survival rate. Histological data were associated with 1-year survival (p < 0.01); however, SPECT grouping was more closely associated with 1-year survival (p < 0.001) and was the only variable significantly associated with long-term survival (p < 0.005). Conclusions. Dual-isotope SPECT data correlate with histopathological findings made at reoperation and with survival in patients with malignant gliomas after surgical and high-dose radiation therapy.

Long-term management of patients with multiple brain metastases after shaped beam radiosurgery

2004 ◽  
pp. 406-412
Author(s):  
Paul Okunieff ◽  
Michael C. Schell ◽  
Russell Ruo ◽  
E. Ronald Hale ◽  
Walter G. O'Dell ◽  
...  
Keyword(s):  
Brain Metastases ◽  
Tumor Control ◽  
Content Type ◽  
Negative Results ◽  
Multiple Metastases ◽  
Extracranial Disease ◽  
Successful Control ◽  
The Brain

✓ The role of radiosurgery in the treatment of patients with advanced-stage metastatic disease is currently under debate. Previous randomized studies have not consistently supported the use of radiosurgery to treat patients with numbers of brain metastases. In negative-results studies, however, intracranial tumor control was high but extracranial disease progressed; thus, patient survival was not greatly affected, although neurocognitive function was generally maintained until death. Because the future promises improved systemic (extracranial) therapy, the successful control of brain disease is that much more crucial. Thus, for selected patients with multiple metastases to the brain who remain in good neurological condition, aggressive lesion-targeting radiosurgery should be very useful. Although a major limitation to success of this therapy is the lack of control of extracranial disease in most patients, it is clear that well-designed, aggressive treatment substantially decreases the progression of brain metastases and also improves neurocognitive survival. The authors present the management and a methodology for rational treatment of a patient with breast cancer who has harbored 24 brain metastases during a 3-year period.

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