Macroeconomic Management for Poverty Reduction : Chad, Mali, Niger
The three countries covered in this first report, Mali, Chad and Niger, share a number of common characteristics and face a similar set of challenges, which provides the foundation for this joint-review approach. All three are low-income landlocked...
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| Format: | Report |
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World Bank, Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2016/04/26299154/chad-mali-niger-macroeconomic-management-poverty-reduction http://hdl.handle.net/10986/24401 |
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okr-10986-24401 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
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English en_US |
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TARIFFS CONTINGENT LIABILITIES MONETARY POLICY DEFICIT OIL PRICE NPL EQUIPMENT ACCOUNTING FOREIGN DEBT LOCAL BANK DEPOSITS GOVERNMENT FINANCES DEFAULTS FINANCIAL MANAGEMENT FISCAL DEFICITS GLOBAL MARKETS MACROECONOMIC MANAGEMENT INTEREST PUBLIC INVESTMENTS INVESTMENT FUND MONEY SUPPLY INVESTMENT POLICIES DOMESTIC FINANCIAL MARKETS OPTION EXCHANGE GOVERNMENT REVENUES LOCAL GOVERNMENTS BALANCE OF PAYMENTS MACROECONOMIC POLICY LIQUIDITY BANK ACCOUNT DEVELOPING COUNTRIES TAX COLLECTION EXPORTERS REVENUES FISCAL POLICY CAPITAL ADEQUACY DEVALUATION GOVERNMENT CAPACITY LOAN CREDITWORTHINESS BUDGET CONSTRAINTS FUTURE CONTRACTS BORROWERS TAX NON-PERFORMING LOANS BUDGETING CENTRAL BANKS INFLATION CREDITORS INSTRUMENTS MICROFINANCE INSTITUTIONS CREDIBILITY ENABLING ENVIRONMENT BUDGET WITHDRAWALS MACROECONOMIC STABILITY FISCAL POLICIES TRADE BALANCE OIL PRICES INDEBTEDNESS CURRENCY NATURAL DISASTER MORAL HAZARD COMMERCIAL BANK DISBURSEMENT PRICE VOLATILITY DEBTS CONTRACTS FINANCES TRADING TAX EXEMPTIONS RECURRENT EXPENDITURES OPTIONS MONETARY FUND NATURAL DISASTERS MARKETS DEBT PRIVATE INVESTMENT FINANCIAL CRISES BALANCE OF PAYMENTS CRISES RETURN INFLATION RATE DEFICITS FINANCIAL FLOWS BUDGET DEFICIT BUSINESS CYCLE INTERNATIONAL ECONOMICS MICRO FINANCE LOANS DIRECT INVESTMENT RISK SHARING RESERVES NEGATIVE SHOCKS DEBT SERVICE GROSS DOMESTIC PRODUCT CASH TRANSFERS COMMODITY PRICE FINANCE FOREIGN CURRENCY PUBLIC INVESTMENT BANK DEPOSITS TAXES BANKING SECTOR INVESTMENT DECISIONS FISCAL DEFICIT EXPENDITURE INFRASTRUCTURE INVESTMENT DEPOSITORS EQUITY MACROECONOMIC INSTABILITY INTEREST PAYMENTS GOOD DEBT-SERVICE TRANSPARENCY GOVERNANCE ISSUES MARKET FAILURES MARKET CONDITIONS LIQUIDITY RATIOS FUTURE FOREIGN DIRECT INVESTMENT RETURNS PURCHASING POWER FINANCIAL MANAGEMENT CAPACITY INVESTMENT PROJECTS INVESTMENT PATTERNS CONTRACT PRICE STABILITY PRICE CHANGES EXPENDITURES BIDS CASH MANAGEMENT INSTITUTIONAL CAPACITY SHARES MICRO FINANCE SECTOR MARKET DEFAULT MONETARY POLICIES PUBLIC DEBT EXPORTER TREASURY TRADING COSTS SOLVENCY INFLATION RATES INSURANCE BUSINESS CYCLES MICROFINANCE ECONOMIC DEVELOPMENT TAX CODE GOODS SECURITY BANK LOANS MACROECONOMIC VOLATILITY INVESTMENT COMMERCIAL BANKS HUMAN RESOURCES SHARE DOMESTIC SECURITY INVESTMENT CLIMATE BALANCE SHEETS PUBLIC FINANCES POVERTY FINANCIAL MARKETS FINANCIAL SHOCKS LOSS OF CONFIDENCE DECENTRALIZATION BID SHORT-TERM BORROWING REVENUE COORDINATION FAILURES EXTERNAL DEBT INVESTMENTS FINANCIAL SUPPORT LENDING CONSUMER PRICE INDEX BANK GUARANTEE MACROECONOMIC POLICIES INSTRUMENT FISCAL DISCIPLINE PUBLIC SPENDING PAYMENT SYSTEMS LIABILITIES COMMODITY PRICES ARREARS CAPITAL ACCOUNT FISCAL DECENTRALIZATION GUARANTEE DEBT RELIEF HUMAN DEVELOPMENT |
| spellingShingle |
TARIFFS CONTINGENT LIABILITIES MONETARY POLICY DEFICIT OIL PRICE NPL EQUIPMENT ACCOUNTING FOREIGN DEBT LOCAL BANK DEPOSITS GOVERNMENT FINANCES DEFAULTS FINANCIAL MANAGEMENT FISCAL DEFICITS GLOBAL MARKETS MACROECONOMIC MANAGEMENT INTEREST PUBLIC INVESTMENTS INVESTMENT FUND MONEY SUPPLY INVESTMENT POLICIES DOMESTIC FINANCIAL MARKETS OPTION EXCHANGE GOVERNMENT REVENUES LOCAL GOVERNMENTS BALANCE OF PAYMENTS MACROECONOMIC POLICY LIQUIDITY BANK ACCOUNT DEVELOPING COUNTRIES TAX COLLECTION EXPORTERS REVENUES FISCAL POLICY CAPITAL ADEQUACY DEVALUATION GOVERNMENT CAPACITY LOAN CREDITWORTHINESS BUDGET CONSTRAINTS FUTURE CONTRACTS BORROWERS TAX NON-PERFORMING LOANS BUDGETING CENTRAL BANKS INFLATION CREDITORS INSTRUMENTS MICROFINANCE INSTITUTIONS CREDIBILITY ENABLING ENVIRONMENT BUDGET WITHDRAWALS MACROECONOMIC STABILITY FISCAL POLICIES TRADE BALANCE OIL PRICES INDEBTEDNESS CURRENCY NATURAL DISASTER MORAL HAZARD COMMERCIAL BANK DISBURSEMENT PRICE VOLATILITY DEBTS CONTRACTS FINANCES TRADING TAX EXEMPTIONS RECURRENT EXPENDITURES OPTIONS MONETARY FUND NATURAL DISASTERS MARKETS DEBT PRIVATE INVESTMENT FINANCIAL CRISES BALANCE OF PAYMENTS CRISES RETURN INFLATION RATE DEFICITS FINANCIAL FLOWS BUDGET DEFICIT BUSINESS CYCLE INTERNATIONAL ECONOMICS MICRO FINANCE LOANS DIRECT INVESTMENT RISK SHARING RESERVES NEGATIVE SHOCKS DEBT SERVICE GROSS DOMESTIC PRODUCT CASH TRANSFERS COMMODITY PRICE FINANCE FOREIGN CURRENCY PUBLIC INVESTMENT BANK DEPOSITS TAXES BANKING SECTOR INVESTMENT DECISIONS FISCAL DEFICIT EXPENDITURE INFRASTRUCTURE INVESTMENT DEPOSITORS EQUITY MACROECONOMIC INSTABILITY INTEREST PAYMENTS GOOD DEBT-SERVICE TRANSPARENCY GOVERNANCE ISSUES MARKET FAILURES MARKET CONDITIONS LIQUIDITY RATIOS FUTURE FOREIGN DIRECT INVESTMENT RETURNS PURCHASING POWER FINANCIAL MANAGEMENT CAPACITY INVESTMENT PROJECTS INVESTMENT PATTERNS CONTRACT PRICE STABILITY PRICE CHANGES EXPENDITURES BIDS CASH MANAGEMENT INSTITUTIONAL CAPACITY SHARES MICRO FINANCE SECTOR MARKET DEFAULT MONETARY POLICIES PUBLIC DEBT EXPORTER TREASURY TRADING COSTS SOLVENCY INFLATION RATES INSURANCE BUSINESS CYCLES MICROFINANCE ECONOMIC DEVELOPMENT TAX CODE GOODS SECURITY BANK LOANS MACROECONOMIC VOLATILITY INVESTMENT COMMERCIAL BANKS HUMAN RESOURCES SHARE DOMESTIC SECURITY INVESTMENT CLIMATE BALANCE SHEETS PUBLIC FINANCES POVERTY FINANCIAL MARKETS FINANCIAL SHOCKS LOSS OF CONFIDENCE DECENTRALIZATION BID SHORT-TERM BORROWING REVENUE COORDINATION FAILURES EXTERNAL DEBT INVESTMENTS FINANCIAL SUPPORT LENDING CONSUMER PRICE INDEX BANK GUARANTEE MACROECONOMIC POLICIES INSTRUMENT FISCAL DISCIPLINE PUBLIC SPENDING PAYMENT SYSTEMS LIABILITIES COMMODITY PRICES ARREARS CAPITAL ACCOUNT FISCAL DECENTRALIZATION GUARANTEE DEBT RELIEF HUMAN DEVELOPMENT Garba, Abdoulahi Beguy, Olivier Kaho, Arsene Mansour, Wael Razafimandimby, Luc Dessus, Sebastien Macroeconomic Management for Poverty Reduction : Chad, Mali, Niger |
| geographic_facet |
Africa Chad Mali Nigeria |
| description |
The three countries covered in this
first report, Mali, Chad and Niger, share a number of common
characteristics and face a similar set of challenges, which
provides the foundation for this joint-review approach. All
three are low-income landlocked economies. Each relies
heavily on the agricultural sector as its primary source of
income and livelihoods, and each has a large livestock
subsector that is based in part on traditional nomadic
pastoralism. All countries have important natural resource
industries, gold for Mali, uranium and oil for Niger, and
oil for Chad, which represent the bulk of export earnings
and public revenue. This dependence on the primary sector
renders these economies highly vulnerable to weather-related
shocks and volatile commodity prices. Each is struggling to
overcome a legacy of instability and violence, which is
complicated both by the fragility of domestic
socio-political conditions and the severity of regional
security challenges. Finally, all three countries are
members of a monetary union that uses a regional currency
pegged to the euro and exercises significant influence over
the macroeconomic policies of its member states. At the
center of the trade-off between stabilization and
development lies public investment management, at
macroeconomic and financial management levels. Faced with
repeated negative shocks, countries tend to cut ongoing and
planned public investment projects which are often designed
to reduce drivers of fragility and strengthen the resilience
of economies, thus perpetuating risks of falling into
fragility traps. Hence, Section three discusses the impact
of public investment volatility on its quality in Chad, Mali
and Niger, and explores possible options in terms of
macroeconomic and public financial management to smooth
public investment budget execution. |
| format |
Report |
| author |
Garba, Abdoulahi Beguy, Olivier Kaho, Arsene Mansour, Wael Razafimandimby, Luc Dessus, Sebastien |
| author_facet |
Garba, Abdoulahi Beguy, Olivier Kaho, Arsene Mansour, Wael Razafimandimby, Luc Dessus, Sebastien |
| author_sort |
Garba, Abdoulahi |
| title |
Macroeconomic Management for Poverty Reduction : Chad, Mali, Niger |
| title_short |
Macroeconomic Management for Poverty Reduction : Chad, Mali, Niger |
| title_full |
Macroeconomic Management for Poverty Reduction : Chad, Mali, Niger |
| title_fullStr |
Macroeconomic Management for Poverty Reduction : Chad, Mali, Niger |
| title_full_unstemmed |
Macroeconomic Management for Poverty Reduction : Chad, Mali, Niger |
| title_sort |
macroeconomic management for poverty reduction : chad, mali, niger |
| publisher |
World Bank, Washington, DC |
| publishDate |
2016 |
| url |
http://documents.worldbank.org/curated/en/2016/04/26299154/chad-mali-niger-macroeconomic-management-poverty-reduction http://hdl.handle.net/10986/24401 |
| _version_ |
1764456653448544256 |
| spelling |
okr-10986-244012021-05-25T08:48:16Z Macroeconomic Management for Poverty Reduction : Chad, Mali, Niger Garba, Abdoulahi Beguy, Olivier Kaho, Arsene Mansour, Wael Razafimandimby, Luc Dessus, Sebastien TARIFFS CONTINGENT LIABILITIES MONETARY POLICY DEFICIT OIL PRICE NPL EQUIPMENT ACCOUNTING FOREIGN DEBT LOCAL BANK DEPOSITS GOVERNMENT FINANCES DEFAULTS FINANCIAL MANAGEMENT FISCAL DEFICITS GLOBAL MARKETS MACROECONOMIC MANAGEMENT INTEREST PUBLIC INVESTMENTS INVESTMENT FUND MONEY SUPPLY INVESTMENT POLICIES DOMESTIC FINANCIAL MARKETS OPTION EXCHANGE GOVERNMENT REVENUES LOCAL GOVERNMENTS BALANCE OF PAYMENTS MACROECONOMIC POLICY LIQUIDITY BANK ACCOUNT DEVELOPING COUNTRIES TAX COLLECTION EXPORTERS REVENUES FISCAL POLICY CAPITAL ADEQUACY DEVALUATION GOVERNMENT CAPACITY LOAN CREDITWORTHINESS BUDGET CONSTRAINTS FUTURE CONTRACTS BORROWERS TAX NON-PERFORMING LOANS BUDGETING CENTRAL BANKS INFLATION CREDITORS INSTRUMENTS MICROFINANCE INSTITUTIONS CREDIBILITY ENABLING ENVIRONMENT BUDGET WITHDRAWALS MACROECONOMIC STABILITY FISCAL POLICIES TRADE BALANCE OIL PRICES INDEBTEDNESS CURRENCY NATURAL DISASTER MORAL HAZARD COMMERCIAL BANK DISBURSEMENT PRICE VOLATILITY DEBTS CONTRACTS FINANCES TRADING TAX EXEMPTIONS RECURRENT EXPENDITURES OPTIONS MONETARY FUND NATURAL DISASTERS MARKETS DEBT PRIVATE INVESTMENT FINANCIAL CRISES BALANCE OF PAYMENTS CRISES RETURN INFLATION RATE DEFICITS FINANCIAL FLOWS BUDGET DEFICIT BUSINESS CYCLE INTERNATIONAL ECONOMICS MICRO FINANCE LOANS DIRECT INVESTMENT RISK SHARING RESERVES NEGATIVE SHOCKS DEBT SERVICE GROSS DOMESTIC PRODUCT CASH TRANSFERS COMMODITY PRICE FINANCE FOREIGN CURRENCY PUBLIC INVESTMENT BANK DEPOSITS TAXES BANKING SECTOR INVESTMENT DECISIONS FISCAL DEFICIT EXPENDITURE INFRASTRUCTURE INVESTMENT DEPOSITORS EQUITY MACROECONOMIC INSTABILITY INTEREST PAYMENTS GOOD DEBT-SERVICE TRANSPARENCY GOVERNANCE ISSUES MARKET FAILURES MARKET CONDITIONS LIQUIDITY RATIOS FUTURE FOREIGN DIRECT INVESTMENT RETURNS PURCHASING POWER FINANCIAL MANAGEMENT CAPACITY INVESTMENT PROJECTS INVESTMENT PATTERNS CONTRACT PRICE STABILITY PRICE CHANGES EXPENDITURES BIDS CASH MANAGEMENT INSTITUTIONAL CAPACITY SHARES MICRO FINANCE SECTOR MARKET DEFAULT MONETARY POLICIES PUBLIC DEBT EXPORTER TREASURY TRADING COSTS SOLVENCY INFLATION RATES INSURANCE BUSINESS CYCLES MICROFINANCE ECONOMIC DEVELOPMENT TAX CODE GOODS SECURITY BANK LOANS MACROECONOMIC VOLATILITY INVESTMENT COMMERCIAL BANKS HUMAN RESOURCES SHARE DOMESTIC SECURITY INVESTMENT CLIMATE BALANCE SHEETS PUBLIC FINANCES POVERTY FINANCIAL MARKETS FINANCIAL SHOCKS LOSS OF CONFIDENCE DECENTRALIZATION BID SHORT-TERM BORROWING REVENUE COORDINATION FAILURES EXTERNAL DEBT INVESTMENTS FINANCIAL SUPPORT LENDING CONSUMER PRICE INDEX BANK GUARANTEE MACROECONOMIC POLICIES INSTRUMENT FISCAL DISCIPLINE PUBLIC SPENDING PAYMENT SYSTEMS LIABILITIES COMMODITY PRICES ARREARS CAPITAL ACCOUNT FISCAL DECENTRALIZATION GUARANTEE DEBT RELIEF HUMAN DEVELOPMENT The three countries covered in this first report, Mali, Chad and Niger, share a number of common characteristics and face a similar set of challenges, which provides the foundation for this joint-review approach. All three are low-income landlocked economies. Each relies heavily on the agricultural sector as its primary source of income and livelihoods, and each has a large livestock subsector that is based in part on traditional nomadic pastoralism. All countries have important natural resource industries, gold for Mali, uranium and oil for Niger, and oil for Chad, which represent the bulk of export earnings and public revenue. This dependence on the primary sector renders these economies highly vulnerable to weather-related shocks and volatile commodity prices. Each is struggling to overcome a legacy of instability and violence, which is complicated both by the fragility of domestic socio-political conditions and the severity of regional security challenges. Finally, all three countries are members of a monetary union that uses a regional currency pegged to the euro and exercises significant influence over the macroeconomic policies of its member states. At the center of the trade-off between stabilization and development lies public investment management, at macroeconomic and financial management levels. Faced with repeated negative shocks, countries tend to cut ongoing and planned public investment projects which are often designed to reduce drivers of fragility and strengthen the resilience of economies, thus perpetuating risks of falling into fragility traps. Hence, Section three discusses the impact of public investment volatility on its quality in Chad, Mali and Niger, and explores possible options in terms of macroeconomic and public financial management to smooth public investment budget execution. 2016-06-03T18:10:36Z 2016-06-03T18:10:36Z 2016-04-01 Report http://documents.worldbank.org/curated/en/2016/04/26299154/chad-mali-niger-macroeconomic-management-poverty-reduction http://hdl.handle.net/10986/24401 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper Africa Chad Mali Nigeria |