Debt Management Literacy and Financial Performance of Saccos in Kumi County – Kumi Uganda

This dissertation is presented on the topic, “Debt management literacy and financial performance of SACCOs in Kumi County”. The overall objective of the study was to determine the effect of Debt management literacy on financial performance of SACCOs in Kumi County and to achieve this the researcher used one specific objective Vinz; “To determine the effect of Debt management literacy on financial performance of SACCOs in Kumi County”. In carrying out the study, the researcher used a case study research design because of its ability to investigate the study variables in detail. The population under study was 150 (N) people and a sample population of 108 (n) people consisting of; SACCO board members, SACCO management team members and SACCO members. The sample size was determined by use of both probability and non-probability sampling techniques. In data collection, the researcher used a duo approach with the use of; Questionnaire survey method which allowed collection of firsthand information within a short period of time and interview method employed on some key informants i.e. SACCO Board members as this was intended to probe for more information, get clarification and capture facial expression. Two tools in this context were used i.e. Research Questionnaire and interview guide. The data collected was both quantitative and qualitative in nature. Data analysis was carried out in two fold; Quantitative data was analysed using Statistical Package for Social Scientists (SPSS) version 25*64 bit. Qualitative data was recorded in the researchers note book and transcribed for a clear meaning. The research findings highlighted a strong positive relationship between debt management literacy and financial performance of SACCOs with R = 0.666. The study confirmed that Debt management literacy explains 44.4% of financial performance as evident with R2= 0.444. The researcher based on the study findings recommended creation of awareness and corporative member education on debt management; Documentation and implementation of a comprehensive credit or debt management policy; There must be a clear line of authority as to who authorizes and approves what and creation of a policy on relationship management strategies so as to ensure long and lasting beneficial relationships with clients.

External Debt and its Impact on Exchange Rates in the Philippines

The exchange rate is a crucial macroeconomic factor within emerging and transition economies. External debt is a driving force for the growth of an economy. This study then aims to determine the impact of external debt on the exchange rate of the Philippines by examining the impact of external debt accumulation on the Philippines' exchange rates. The researcher applies a correlational time series analysis in order to capture the impact of external debt, debt services on external debt, and foreign reserves on the exchange rate of the Philippines within the period from 1980 to 2019. The relationships between variables based on the developed theoretical framework are analyzed through multiple regression analysis. Empirical results show that external debt and debt services positively impact the exchange rate, while foreign reserves exhibit a negative relationship. The corresponding coefficients indicate that a change in any of the independent variables will cause significant but marginal fluctuations in the exchange rate in the case of the Philippines. The author concludes that external debt encourages the growth of exchange rates in the long run in the case of the Philippines due to its positive relationship. This implies that the Philippine government should aim to focus on more efficient external debt management strategies to enhance the value of the exchange rate of the Philippine Peso relative to other countries. Accordingly, the researcher recommends that the government take the necessary means to reduce the country's external debt to better the economy.

JUDICIAL ENFORCEMENT BY SOCIAL ASPECTS

Nowadays, mortality loses its importance. Moral behaviour, and religion have become an alternative. In the public consciousness, religion and morality play second fiddle to law, which is contrary to the use of public discourse. In every rule of law, however, law and its enforcement not a matter of choice. Law is mandatory for all people without exception – as The Fundamental Law of Hungary also sets it out. The main objective of my study is to combine the judicial enforcement with the social network in Hungary, as a system, based on solidarity, given that no particular attention has been paid to this so far. Apart from some measures (debt management programme, National Asset Management Programme), the involvement of the social network in the enforcement procedure has not taken place, although it could be extremely important in particular when judgment debtors are on the verge of eviction.

Public debt management and the interaction between fiscal and monetary policies

PurposeThis paper aims to investigate the existing relations between the management of public bonds on the dynamics of debt, term structure of interest rates and economic cycle, through a dynamic stochastic general equilibrium model (DSGE), which was estimated through Bayesian inference techniques using data from Brazil.Design/methodology/approachThe model developed was used to investigate the effects of the public debt average maturity management when the economy faces a monetary policy shock. For this, three management scenarios are evaluated, including Brazilian securities average term.FindingsContrary to what might be inferred from DSGE models that limited the analysis of the debt term by imposing only one-period bonds, a contractionary monetary policy shock does not necessarily cause public debt to increase significantly. Debt term structure plays a crucial role in this result since the government does not need to roll the debt over at higher costs when the debt term profile is longer, reducing the debt service costs and then the impact on the overall debt.Originality/valueDespite the relevance of this theme and its implications for the dynamics of the economy, there is still a gap to be filled in the literature when using DSGE models, since most part of the work that used this methodology limited the analysis of the debt term by imposing that government issues only one-period bonds. This paper differs from the others insofar as it promotes an investigation focused on the role played by debt maturity management on the performance of the contractionary monetary policy. This approach can generate a better understanding of debt management policy and its interaction with fiscal and monetary policies.

Financially-legal regulation of basic public debt management in the conditions of coronavirus pandemic

This article is devoted to the consideration of some issues related to the legal regulation of the main methods of public debt management in Russia in the context of the coronavirus pandemic. In the course of the study, the features of the external and internal debt of the Russian Federation are highlighted, various approaches to the definition of this category are considered, and some aspects of legal regulation in this area are analyzed. It is determined that the norms of financial law regulate a whole and diverse set of public relations related to the implementation of borrowing both in the domestic and foreign markets, and it is necessary to comprehensively regulate this institution. In conclusion, it is concluded that the coronavirus pandemic has greatly affected all aspects of financial activity, the state had to resort to additional borrowing on the domestic market to eliminate the consequences of the pandemic. Based on this, we need a well-thought-out strategy for the development of legislation in this area at all levels of the budget system of the Russian Federation.

Evaluation of the debt policy of the southern macroregion subjects in modern conditions

The relevance of the topic is due to the fact that debt crises have an extremely negative impact on the national economy, which implies the need for constant attention on the part of the government to issues of public debt management in order to timely, identify possible violations of debt stability. The subject of the research is the debt sustainability of the constituent entities of the South of Russia as the ability of the constituent entities of the federation to timely and fully service the public debt without significant adjustments to the balance of income and expenses. The aim of the research is to assess the debt sustainability of the constituent entities of the South of Russia and develop measures aimed at increasing it in order to prevent the emergence of an imbalance in regional finances and reduce the likelihood of debt crises. An increase in government borrowing rises budget spending on public debt servicing and can provoke an imbalance in the financial system. Diversification of the debt portfolio helps to ensure its balance. The structure of the debt portfolios of the constituent entities of the Federation may include budget loans, government guarantees, government securities, loans from credit institutions and other instruments. The article notes that the debt sustainability of the constituent entities of the Russian Federation directly depends on the decisions made at the federal level and the amount of government spending directed to specific regions. Therefore, it is necessary to maintain such a level of debt sustainability, which will prevent the emergence of an imbalance in regional finances and reduce the likelihood of debt crises. This presupposes the application of uniform recommendations for assessing debt sustainability in all constituent entities of the Russian Federation. The analysis of the volume and structure of the state debt of the constituent entities of the South of Russia, carried out in the article, made it possible to conclude that the debt policy of the macroregion is fragmented: the structure of debt portfolios is heterogeneous; a change in the level of debt burden can be associated with both an increase in tax and non-tax revenues, a decrease in the amount of public debt, and with reverse processes.

Foreign Direct Investment and External Debt Impacts Assessment on Environmental Resources Depletion in Nigeria

The public interest in justness, equity and fairness in the use of environmental resources between the present and future generations have raised concern about the current depletion rate of environmental resources in Nigeria. Several socioeconomic factors are involved. Worrisome however is the inflow of foreign direct investment and external debt escalation in recent years in the economy. Importantly, we asked, do they contribute to the depletion of environmental resources in Nigeria? In that, we modelled the implications of growth in FDI and external debt on four cases of environmental resources depletion (forestry, solid minerals, fisheries, and crude oil resources productions). The estimated results suggested that though the depletion rate of environmental resources like crude oil depends largely, over the long run and short run, on the movement in FDI inflow, critical to the level of depletion of the forest is the short run effect of external debt. Furthermore, the depletion level of fisheries responds positively only to a change in FDI with a lag in the short run. In terms of solid minerals, we found a long run impact of external debt. Therefore, provided the impact of a rise in FDI and external debt on the depletion of environmental resources is subject to the particular resource and time in Nigeria, selective policies based on the FDI and external debt management is appropriately adequate to control the level of depletion of environmental resources in Nigeria for the benefit of the future generation.

Debt management literacy among credit cards users

This research investigates the debt management literacy among credit card users. Based on thematic analysis through semi-structured interviews with debt management experts, particularly in credit cards, this research sheds light on the positive and negative to the causal of debt management literacy, including awareness and experiences. Meanwhile, the negative causal is ignorance and economy. These themes depict that credit cards users are prone to develop knowledge in debt management for several causes. Taken together, the research findings highlight the importance of understanding the nature of debt management, which has received relatively little attention to date.