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The economy of Burundi is $3.436 billion by gross domestic product as of 2018, being heavily dependent on agriculture, which accounts for 32.9% of gross domestic product as of 2008. Burundi itself is a landlocked country lacking resources, and with almost nonexistent industrialization. Agriculture supports more than 70% of the labor force, the majority of whom are subsistence farmers.
The economy of Cameroon was one of the most prosperous in Africa for a quarter of a century after independence. The drop in commodity prices for its principal exports – petroleum, cocoa, coffee, and cotton – in the mid-1980s, combined with an overvalued currency and economic mismanagement, led to a decade-long recession. Real per capita GDP fell by more than 60% from 1986 to 1994. The current account and fiscal deficits widened, and foreign debt grew. Yet because of its oil reserves and favorable agricultural conditions, Cameroon still has one of the best-endowed primary commodity economies in sub-Saharan Africa.
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 190 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate stability. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world."
The economy of Senegal is driven by mining, construction, tourism, fishing and agriculture, which are the main sources of employment in rural areas, despite abundant natural resources in iron, zircon, gas, gold, phosphates, and numerous oil discoveries recently. Senegal's economy gains most of its foreign exchange from fish, phosphates, groundnuts, tourism, and services. As one of the dominant parts of the economy, the agricultural sector of Senegal is highly vulnerable to environmental conditions, such as variations in rainfall and climate change, and changes in world commodity prices.
The heavily indebted poor countries (HIPC) are a group of 39 developing countries with high levels of poverty and debt overhang which are eligible for special assistance from the International Monetary Fund (IMF) and the World Bank.
The debt of developing countries usually refers to the external debt incurred by governments of developing countries.
Poverty Reduction Strategy Papers (PRSPs) are documents required by the International Monetary Fund (IMF) and World Bank before a country can be considered for debt relief within the Heavily Indebted Poor Countries (HIPC) initiative. PRSPs are also required before low-income countries can receive aid from most major donors and lenders. The IMF specifies that the PRSP should be formulated according to five core principles. The PRSP should be country-driven, result-oriented, comprehensive, partnership-oriented, and based on a long-term perspective. The PRS process encourages countries to develop a more poverty-focused government and to own their own strategies through developing the plan in close consultation with the population. A comprehensive poverty analysis and wide-ranging participation are vital parts of the PRSP formulation process. There are many challenges to PRS effectiveness, such as state capacity to carry out the established strategy. Criticism of PRSP include aid conditionality, donor influence, and poor fulfillment of the participatory aspect.
Official development assistance (ODA) is a category used by the Development Assistance Committee (DAC) of the Organisation for Economic Co-operation and Development (OECD) to measure foreign aid. The DAC first adopted the concept in 1969. It is widely used as an indicator of international aid flow. It refers to material resources given by the governments of richer countries to promote the economic development of poorer countries and the welfare of their people. The donor government agency may disburse such resources to the government of the recipient country or through other organizations. Most ODA is in the form of grants, but some is measured as the concessional value in soft (low-interest) loans.
Structural adjustment programs (SAPs) consist of loans provided by the International Monetary Fund (IMF) and the World Bank (WB) to countries that experience economic crises. Their stated purpose is to adjust the country's economic structure, improve international competitiveness, and restore its balance of payments.
In international relations, aid is – from the perspective of governments – a voluntary transfer of resources from one country to another.
A fiscal adjustment is a reduction in the government primary budget deficit, and it can result from a reduction in government expenditures, an increase in tax revenues, or both simultaneously.
Historically, Venezuela has been categorized as one of the most successful countries in Latin America specifically during its democratic period between 1958 and 1999. As the wealthiest country in this region and an OPEC member, Venezuela has been more frequently a donor than a recipient of foreign assistance. Its economic dependency on oil resources was the main reason why this reputation reached the international public sphere. The effectiveness of oil revenues has had a huge impact on public expenditure and, as a result, a double-sword mechanism for the government to choose between an effective role for this institution towards a welfare state and clientelism.
US$43 billion in International Monetary Fund (IMF) aid in 2003 was sent as foreign aid to Indonesia, and this assistance has traditionally been an important part of the central government's budget. From 1967 to 1991, most aid was coordinated through the Inter-Governmental Group on Indonesia (IGGI) founded and chaired by the Netherlands; since 1992, without the Netherlands, the organization has been known as the Consultative Group on Indonesia (CGI). Although Indonesia terminated its IMF aid program in December 2003, it still receives bilateral aid through the CGI, which pledged US$2.8 billion in grants and loans for 2004. Japan and the Asian Development Bank also have been key donors.
The Republic of Kiribati's per capita Gross National Product of US$1,420 (2010) makes it the poorest country in Oceania. Phosphates had been profitably exported from Banaba Island since the turn of the 20th century, but the deposits were exhausted in 1979. The economy now depends on foreign assistance and revenue from fishing licenses to finance its imports and development budget.
Water privatization in Dar es Salaam began with the award of a 10-year lease contract signed in 2003 for Dar es Salaam, the largest city and former capital of Tanzania. It was signed between the government of Tanzania and City Water, a consortium consisting of the former British firm Biwater, Gauff Engineers from Germany and a Tanzanian company called Superdoll. The Tanzanian government terminated the lease contract in May 2005 amid mutual allegations of breach of contract, and deported the three top executives of City Water. Though the stated goals of privatizing and liberalizing were to lower costs and increase safe water access, in fact Biwater imposed higher fees and needed more water infrastructure, resulting in less availability and a lack of transparency.
The IMF Stand-By Arrangement (SBA) is an economic program of the International Monetary Fund (IMF) involving financial aid to a member state in need of financial assistance, normally arising from a financial crisis. In return for aid, the economic program stipulates needed reforms in the recipient country aimed at bringing it back on a path of financial stability and economic sustainability. The SBA is a sub-set of IMF and World Bank programs aimed at Structural adjustment.
International lender of last resort (ILLR) is a facility prepared to act when no other lender is capable or willing to lend in sufficient volume to provide or guarantee liquidity in order to avert a sovereign debt crisis or a systemic crisis. No effective international lender of last resort currently exists.
The external debt of India is the debt the country owes to foreign creditors. The debtors can be the Union government, state governments, corporations or citizens of India. The debt includes money owed to private commercial banks, foreign governments, or international financial institutions such as the International Monetary Fund (IMF) and World Bank.
A repayment plan is a structured repaying of funds that have been loaned to an individual, business or government over either a standard or extended period of time, typically alongside a payment of interest. Repayment plans are prominent within the financial industry of a national economy where liquid funds are in high demand to assist in investment opportunities, governmental expenditure or personal finance. The term first saw prominence with its use by the International Monetary Fund to describe its form of financial loan repayment from individual nations. Typically, the term "repayment plan" refers to the system of Federal Student Aid in the United States of America, which assists in covering tertiary education expenses of domestic students.
Bolivia joined the IMF on December 27, 1945. Since 1945, Bolivia has cooperated with the IMF to achieve social reforms and economic growth. These efforts have involved strategies to reduce poverty, increase social equity, improve the education system and healthcare system, and expand social services to rural populations and underserved urban communities. Since 1984, Bolivia has been an active client of the fund, accessing 19 credit lines with the fund since joining.
References
Stefan Koeberle; Harold Bedoya; Peter Silarsky; Gero Verheyen, eds. (2005). Conditionality Revisited: Concepts, Experiences, and Lessons (PDF). The World Bank. ISBN 0-8213-6013-2.
- ↑ Mertens, Claas (28 March 2024). "Carrots as Sticks: How Effective Are Foreign Aid Suspensions and Economic Sanctions?". International Studies Quarterly. 68 (2).
- ↑ Susan M. Collins, University of Michigan Ford School of Public Policy. Public Policy 201 Lecture on Global Poverty
- ↑ Dreher, A. (2009), "IMF Conditionality: Theory and Evidence", Public Choice, 141, 233-267