This Joint Staff Advisory Note (JSAN) reviews the Republic of Moldova's Poverty Reduction and Growth Strategy Paper (PRSP) covering the years 2012-2020.
... See More + The PRSP follows Moldova's National Development Strategy (NDS) focusing on seven national development priorities: (i) Aligning the education system to labor market needs in order to enhance labor productivity and increase employment in the economy; (ii) Increasing public investment in national and local road infrastructure; (iii) Reducing financing costs by increasing competition in the financial sector and developing risk management tools; (iv) Improving the business climate; promoting competition policies, streamlining the regulatory framework and applying information technologies in public services for business and citizens; (v) Reducing energy consumption by increasing energy efficiency and using renewable energy sources; (vi) Ensuring financial sustainability of the pension system in order to secure an appropriate rate of wage replacement; (vii) Increasing quality and efficiency fighting corruption to ensure equitable access to public goods. The Bank and Funds staff believe the NDS provides a good basis for inclusive growth in Moldova, but that implementation will be key. Particular attention will be given to the relation between the new NDS and existing national and sectorial strategies.
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Poverty Reduction Strategy Paper (PRSP) 80050 AUG 01, 2013
The National Development Plan (NDP) is considered the third poverty reduction strategy for Chad, following the ones adopted for the periods 2003-6 and 2008-11.
... See More + The NDP focuses on a sensible set of priorities, notably on the creation of new productive capacities and opportunities for decent jobs, human capital development and the fight against inequality, poverty and social exclusion, environmental protection and climate change adaptation, and improved governance. The plan is organized into four chapters. The first chapter is focused on a diagnosis of Chad's economic and social situation from 2000 to 2011. The second chapter presents the strategy and the 2013-2015 NDP. The strategic guidelines adopted should make it possible, in terms of results, to meet the challenge of steady growth and sustainable development. The third chapter presents the different growth scenarios and the macroeconomic and financial framework of the National Development Plan 2013-2015 (PND). Finally, the fourth chapter deals with the mechanism for implementing, monitoring, and evaluating the 2013-2015 PND. This refers to all of the mechanisms and bodies that enable monitoring and evaluation of the effective execution of the 2013-2015 PND. One paragraph is reserved for the post-2013-2015 PND period that broaches the question of the 2025 vision and its preparation.
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Poverty Reduction Strategy Paper (PRSP) 78692 JUN 20, 2013
This Joint Staff Advisory Note (JSAN) reviews Guinea's third Poverty Reduction Strategy Paper 2013-15 (PRSP). Implementation of the second PRSP, adopted in August 2007 and covering 2007-10, was interrupted by a military coup in December 2008.
... See More + In early 2011, a new democratically elected government extended the original PRSP to cover 2011-12 and reported on this implementation in 2011. The JSAN 2012 commented on these documents. Since then, the authorities have been preparing a full PRSP for 2013-15; on March 4, 2013, the authorities sent the draft PRSP to the bank and Fund staff to benefit from a JSAN on the basis of a shared understanding that its priorities shall remain substantially unchanged pending validation. The PRSP aims to accelerate economic growth and progress toward the Millennium Development Goals (MDGs). The strategic vision of the PRSP is to use Guinea's potentially large mining rents toward poverty alleviation and development of a competitive employment generating private sector. Priority is given to the following issues: (1) strengthening democracy and state effectiveness; (2) accelerated and diversified growth; (3) employment; and (4) reduction of regional inequalities. The strategy aims to take advantage of the recent political and social stability to accelerate progress toward meeting the set objectives. As was the case on previous occasions, the PRSP was prepared with input from extensive public consultations.
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Poverty Reduction Strategy Paper (PRSP) 77641 APR 30, 2013
Mali's third Growth and Poverty Reduction Strategic Paper (GPRSP-3, 2012-17) provides a comprehensive framework for implementing an ambitious growth and poverty reduction agenda over the next five years.
... See More + The GPRSP-3 is based on five axes: 1) strengthening peace and security; 2) strengthening macroeconomic stability; 3) promoting accelerated, sustainable and pro-poor growth, which will create jobs and generate income; 4) strengthening the foundations of long-term development and equitable access to quality social services; and 5) improving institutional development and governance. In spite of the major security developments since March 2012, the authorities consider that the GPRSP-3 still provides the relevant medium term framework for resource mobilization and allocation in support of growth and poverty reduction. While the GPRSP-3 is a comprehensive strategy to increase growth and reduce poverty, it will benefit from an elaboration in some important areas. The GPRSP-3 does not address the absence of critical reforms in electricity, cotton, and financial sector. Its gender policies will remain ambiguous in light of the 2011 family code passed by parliament. The authorities consulted extensively with a wide range of stakeholders to ensure the widest possible buy-in for the GPRSP-3 process.
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Poverty Reduction Strategy Paper (PRSP) 76831 APR 23, 2013
Niger's new poverty reduction strategy, the Plan for Economic and Social Development (PDES) was approved by the council of ministers on August 1, 2012.
... See More + The PDES proposes changes in policy orientation and institutional arrangements to respond to recent developments in Niger and in the sub region. In particular, in order to prevent a recurrence of the political instability experienced during the period 2009 - 2010, the PDES pays particular attention to the consolidation of the credibility and efficacy of public institutions. Overall, the PDES provides a comprehensive analysis of Niger's development challenges and plans to achieve accelerated sustainable growth. The clear articulation of the interconnectedness of good governance, security and development, which was also highlighted by Niger president at the PDES round table in Paris, is welcome and addresses the significant domestic and external challenges that Niger is confronted with in its pursuit of economic and social development.
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Poverty Reduction Strategy Paper (PRSP) 76241 APR 05, 2013
The Joint Staff Advisory Note (JSAN) reviews the authorities' Medium-term Development Program (MTDP), which covers the period from 2012 to 2014.
... See More + The MTDP was approved by the previous cabinet on April 12, 2012 and subsequently submitted to the International Development Association (IDA) and the International Monetary Fund (IMF). The new cabinet, which was approved by the parliament on September 5, 2012, endorses the MTDP and intends to update it as part of the Annual Progress Report. The main focus of the authorities' comprehensive medium-term strategy is to raise living standards and reduce poverty. These goals are to be achieved through high economic growth, improvements in the business environment and strengthening governance. The three-year strategy aims at: (i) achieving macroeconomic stability; (ii) consolidating public finances; (iii) reforming public financial management; (iv) improving access to finance; (v) strengthening the investment climate; (vi) managing public assets efficiently; and (vii) promoting employment.
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Poverty Reduction Strategy Paper (PRSP) 79249 NOV 14, 2012
This Joint Staff Advisory Note (JSAN) reviews the Democratic Republic of the Congo's (DRC's) second Poverty Reduction and Growth Strategy Paper (PRSP-2) which covers the years 2011 to 2015.
... See More + The PRSP-2 follows Congo's first full PRSP (PRSP-1), which covered the years 2006-10. The PRSP-1 represented DRC's first comprehensive national development plan since the end of civil war in 2003 and consequently focused on the urgent need to improve living conditions and rebuild the country after a decade of conflict and fragility. The JSAN of the PRSP-1 progress report commended the DRC government for progress made on strategic issues such as the establishment of peace with Rwanda and the renegotiation of the Sino- Congolese Cooperation Agreement (SCCA), but also noted the poor alignment of the budget with the PRSP-1 priorities. The PRSP-2 candidly documents the progress made toward peace, political and institutional consolidation and the delayed progress made toward the Millennium Development Goals (MDGs), including gender goals more broadly. The PRSP-2 refocuses its efforts away from urgent post-conflict needs towards a more sustainable development of the country. The PRSP-2 builds on the PRSP-1 but places a particular emphasis on growth, employment creation and the impact of climate change. The document also focuses on the strengthening of good governance, the achievement of the MDGs by 2020 and the elimination of gender-based inequalities. The strategy rests on four pillars: (i) the strengthening of governance and the consolidation of peace; (ii) the diversification of the economy to accelerate growth and create employment; (iii) improvement of access to basic social services as well as the improvement of human capital; and (iv) the protection of the environment and actions to reduce the impact of climate change. These pillars are in line with the Bank's Africa strategy, which focuses on competitiveness and employment, vulnerability and resilience, and governance and public sector capacity.
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Poverty Reduction Strategy Paper (PRSP) 72059 SEP 06, 2012
This Joint Staff Advisory Note (JSAN) reviews Guinea's Extension of the Poverty Reduction Strategy Paper 2011-12 (EPRSP) and the 2011 Progress Report (PR).
... See More + Implementation of the PRSP, adopted in August 2007 and covering 2007-10, was interrupted by a military coup in December 2008. In early 2011 a new democratically elected government extended the original PRSP over the period 2011-12. The progress report discusses: (a) the EPRSP and (b) developments in 2011 and 2012. The overarching objective of the EPRSP is to accelerate the nation's economic growth and progress toward the Millennium Development Goals (MDGs). The main pillars of the strategy are: (i) improving governance, (ii) accelerating growth and increasing employment opportunities while further stabilizing the economy, and (iii) improving access to basic services. The EPRSP attributes the disappointing implementation of the original PRSP for 2007-10 to poor governance caused by political and institutional instability. The EPRSP was prepared through extensive public consultations, particularly in the rural areas. Regional consultations were held in two major regional centers in January-February 2011. The JSAN draws conclusions that could be helpful to the ongoing preparation of the third PRSP (PRSP III) for the period 2013-15, expected to be finalized in December 2012. The JSAN has the same structure as the EPRSP and PR and concludes with staff recommendations, risks identification, and issues for discussion.
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Poverty Reduction Strategy Paper (PRSP) 71739 AUG 22, 2012
This Country Partnership Strategy Progress Report (CPSPR) takes stock of the implementation of the World Bank Group (WBG)'s 2010-13 CPS discussed by the Board on March 23, 2010, provides an update on the economic situation, and describes the way forward for the remaining 18 months.
... See More + Discussions with the Government on potential lending services will continue, and the scope of such lending will depend on the nature of the program that the Government adopts and requests in the coming months. A new Government was elected in December 2011 and has launched consultations with the WBG and the International Monetary Fund (IMF) on key policy measures going forward. Lack of performance under the IMF Stand by Arrangement (SBA) was a key campaign issue. The Government acknowledges that there are difficult and urgent decisions to be made to improve macroeconomic stability and help Jamaica transition to a knowledge-driven, globally competitive, green, and innovative economy. Failure to reach an agreement with the IMF could deprive the country of external financing, lead to a resurfacing of capital market pressures, and constrain other multilaterals' ability to provide support.
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Poverty Reduction Strategy Paper (PRSP) 70275 AUG 01, 2012
The Second Poverty Reduction Strategy Paper (PRSP-II) articulates Burundi's development priorities from 2012-15. With the objective to address the country's main development challenges, and learning from the PRSP-I, the Government has built its new strategy on four strategic axes: (i) strengthening the rule of law, consolidating good governance, and promoting gender equality; (ii) transforming Burundi's economy to achieve sustainable and job-creating growth; (iii) improving access to and quality of basic services and strengthening social protection; and (iv) promoting environmental and land management to ensure the preservation of the country's natural assets.
... See More + Staffs believe successful implementation of the PRSP-II will contribute to the realization of Burundi's Vision 2025. The sources of growth identified in the PRSP-II reflect the mix of Burundi's natural endowment and new economic realities. The focus is rightly put on modernizing agriculture through value chains (i.e., key staple foods, milk and meat) since this sector accounts for about 90 percent of current employment. Expanding and diversifying exports beyond coffee and tea is also a key objective to reduce the country's external vulnerability and promote job creation. The PRSP-II also aims at unleashing growth potential in the mining and tourism sectors. Lastly, regional integration within East African Community (EAC) is viewed as an important channel for enhancing local private activities thanks to connective infrastructures and sustained business environment improvements. Staffs recognize ongoing reform will have stronger impact by implementing the action plan of the updated Diagnostic Trade Integration Study. The PRSP-II seeks to address a series of challenges that are expected to bring quick wins to the population in a still fragile economic and social environment. Although significant improvements have been achieved on the political front over the past few years, the peace dividend needs to be solidified further to unlock the benefits of economic growth. Welfare enhancing quick wins, notably improved access to health, education, and water and sanitation, will foster support for the reforms and facilitate the ongoing nation building process. The PRSPII identifies six development and growth challenges: (i) the strong demographic pressure; (ii) the need to intensify agricultural productivity to sustain food security; (iii) the need to increase the efficiency of public spending; (iv) the acceleration of the private sector development; (v) energy supply; and (vi) the strengthening of institutional capacity.
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Poverty Reduction Strategy Paper (PRSP) 70486 JUL 12, 2012
The Second Malawi Growth and Development Strategy (MGDS II) 2011-2016, which is the country's second medium term plan, was finalized and approved by the cabinet in April 2012.
... See More + The MGDS II was thereafter submitted to the International Development Association (IDA) and the International Monetary Fund (IMF), in the context of preparation of the World Bank Country Assistance Strategy (CAS) 2012/13-2015/16 and the authorities request for a new arrangement under the extended credit facility. The MGDS II is a medium term strategy designed to implement Malawi's long term aspirations as spelt out in its Vision 2020. It strives to foster more inclusive job creating growth to address unemployment and reduce poverty. The strategy reflects a general consensus on the country's broad goals for growth, social equity, and governance. More specifically, the strategy recognizes that in order for all Malawians to benefit equitably from economic growth, concerted efforts to promote human and social development need to be complemented with efforts to improve labour productivity and structural transformation leading to economic diversification. Overall, the staffs find that the MGDS II presents a clear analysis of the many challenges facing the country. But there is need for further prioritization and sequencing of proposed actions and interventions in view of limited resources. The emphasis on productivity and economic diversification, especially in agriculture is appropriate. Priority should be given to measures to restore macroeconomic stability and regain control over the management of the economy for these medium term objectives to be achieved.
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Poverty Reduction Strategy Paper (PRSP) 69134 JUL 05, 2012
Lesotho's National Strategic Development Plan (NSDP) 2012/13-2016/17 serves as an implementation strategy for the national vision 2020. The NSDP serves as the Poverty Reduction Strategy Paper (PRSP) and is the second PRSP that the Government of Lesotho has produced.
... See More + The national vision document states these broad goals: by the year 2020, Lesotho shall be a stable democracy, a united and prosperous nation at peace with itself and its neighbors. It shall have a healthy and well-developed human resource base. Its economy will be strong, its environment well managed, and its technology well established. To achieve these ends, the NSDP seeks to: (a) pursue economic growth that is high, shared, and employment creating; (b) develop priority infrastructure; (c) enhance the country's skills base, technology adoption, and foundations for innovation; (d) improve health, combat HIV and AIDS, and reduce (social) vulnerability; (d) reverse environmental degradation and adapt to climate change; and (e) promote peace and democratic governance, and build effective institutions. The NSDP recognizes the significant challenges Lesotho faces in reducing poverty and making growth more broad-based. It takes explicit note of the role high inequality and slow employment growth have played in making growth less inclusive and the inability of recent growth drivers (mining and construction) to noticeably change the situation. The plan also identifies the major non-economic sources of vulnerability: the spread of HIV/AIDs and climate change/natural disasters. The diagnostics and recommended growth generators (agriculture, manufacturing, tourism, and improving the investment climate) are consistent with the recommendations made in the Bank's Poverty, gender and social assessment report (2010). To achieve the greatest poverty reduction, the report recommended the adoption of the following measures: (a) support labor-intensive and export-oriented manufacturing by improving the investment climate; (b) commercialize agriculture and promote rural development; and (c) support the migration to urban areas, where more jobs are and where public services can be provided more easily.
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Poverty Reduction Strategy Paper (PRSP) 68993 JUN 28, 2012
In January 2009, the Government of Cote d'Ivoire published its first full Poverty Reduction Strategy Paper (PRSP) covering the period 2009-15. The PRSP was discussed by the Boards of International Development Association (IDA) and the International Monetary Fund (IMF) on March 27 and 31, 2009, respectively.
... See More + It focused on four principal outcomes: (i) re-establishment of the foundations of the Republic; (ii) transforming Cote d'Ivoire into an emerging economy; (iii) social well-being for all; and (iv) becoming a dynamic actor on the regional and international scene. In February, 1 2012, the Government of Cote d'Ivoire issued a Progress Report (PR) of the PRSP, the first assessment of progress made in the implementation of the policies outlined in the PRSP, covering the period 2009-11. No annual progress reports were produced in 2010 or 2011. The progress report notes the difficulty of implementing the PRSP in a period of continued political crisis and civil conflict. Political violence broke out after the second round election of November 2010 as the outcome of the election was disputed by the outgoing president. The civil conflict ended only in April 2011. The new government was not sworn in until June 2011. As a consequence, during the period covered by the PR, policies were oriented first toward elections and later toward disarmament, demobilization and reintegration of ex-combatants and the countrywide redeployment of public services, many of which had been interrupted. The post-election crisis resulted in the loss of about 3,000 lives, 10,000 displaced persons, and some destruction of infrastructure. This Joint Staff Assessment Note (JSAN) of the PR is issued in the context of the presentation to the Boards of IDA and the IMF of Cote d'Ivoire's Enhanced heavily indebted poor countries (HIPC) completion point. The JSAN draws conclusions that could be helpful for effective implementation of the recently adopted National Development Plan (NDP 2012-15), which will now supersede the PRSP discussed here. The JSAN discusses poverty trends, macroeconomic policies and framework, outcomes in each of the PRSP's four strategic pillars, and monitoring and evaluation arrangements. The final section presents staff recommendations.
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Poverty Reduction Strategy Paper (PRSP) 69292 MAY 31, 2012
This joint staff advisory note reviews the Republic of Congo's poverty reduction, growth and employment strategy paper (PRSP-2), which was completed on January 31, 2012.
... See More + PRSP-2 follows Congo's first PRSP (PRSP-1), which covered the years 2008-2011, and was adopted in April 2008. The PRSP-1 was part of the 'new hope' plan to reconstruct the country after years of conflict, to consolidate the peace process, and to put the Republic of Congo on the path of sustainable development. The goals of the PRSP-1 were five-fold: (1) the amelioration of governance and the consolidation of peace and security; (2) the promotion of growth and macroeconomic stability; (3) the improvement of universal access to basic social services; (4) the improvement of the social environment and the integration of vulnerable groups; and (5) the fight against HIV/AIDS. The PRSP-2 is part of the Government's National Development Plan, and its goal is to modernize and industrialize the country. The strategy rests on the same pillars as the PRSP-1 but reinvigorates two aspects that had unsatisfactory results in the PRSP-1: (1) the promotion of diversified, inclusive, employment-creating and value-added growth; and (2) the equal distribution of the benefits and security of growth throughout the country. Also added to this PRSP is the priority of respecting and protecting the environment to slow down climate change and reduce the harmful extraction of natural resources. The process of preparing the PRSP-2 was officially launched in March 2011 during a workshop attended by participants from all parties and regions. The workshop formalized the six thematic groups that worked on the detailed background documents for each sector, which were: (1) governance; (2) the economy; (3) infrastructure; (4) development and social inclusion; (5) education, training, and scientific research; and (6) balanced and sustainable development. Major think tanks around the country also contributed to the preparation process. After the thematic reports were adopted in July 2011, the permanent technical secretariat of the national committee for the fight against poverty produced a draft of the PRSP.
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Poverty Reduction Strategy Paper (PRSP) 67206 APR 30, 2012
Second poverty reduction strategy paper (PRSP-II) is the successor to the governments previous development strategy, the PRSP-I, and furthers the country commitment to promoting sustainable poverty reduction through broad-based growth.
... See More + This PRSP-II based on an accurate poverty assessment, which encompasses key dimensions of both monetary and nonmonetary poverty in Sao Tome and Principe (STP). The assessment provides disaggregated poverty data by location, employment status and sector, as well as a range of demographic characteristics. Overall, the PRSP-II presents a coherent analysis, offers an appropriate policy framework for long-term poverty reduction and sustainable economic growth, and expands upon the previous strategy (PRSP-I) in two critical programmatic areas: (i) the PRSP-II prioritizes reforms that are urgent regardless of whether oil is produced or not. It includes a set of measures aimed at regulatory strengthening and capacity-building, especially in the nascent petroleum sector, in order to ensure that prospective natural resources are managed effectively and transparently; (ii) drawing on lessons learned during the implementation of the PRSP-I, the PRSP-II sets achievable objectives. The target Gross domestic product (GDP) growth rate builds on STP's recent economic performance, assuming that the implementation of structural reforms continues as planned, and barring a serious deterioration of external conditions or other unpredictable shocks.
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Poverty Reduction Strategy Paper (PRSP) 72388 MAR 20, 2012
The Gambian authorities launched their Program for Accelerated Growth and Employment (PAGE) covering the years 2012 to 2015 in December 2011. The PAGE is the country's new Poverty Reduction Strategy Paper (PRSP) and is organized around five pillars: (i) accelerating and sustaining economic growth; (ii) improving and modernizing infrastructure; (iii) strengthening human capital stock and enhancing access to social services; (iv) improving governance and increasing economic competitiveness; and (v) reinforcing social cohesion.
... See More + The PAGE is consistent with the Africa strategy as it focuses on stepping-up infrastructure investments to address the country's severe shortcomings and to help create a more enabling business environment. The preparation of the PAGE was the responsibility of the Ministry of Finance and Economic Affairs, who coordinated the preparation of the document in a participatory and consultative manner. Stakeholder consultative workshops and focus group discussions were held with representatives of the public and private sectors, as well as from civil society. The PAGE represents a comprehensive medium-term development strategy, but it faces key challenges. Given the constrained resource envelope, further prioritization is required to ensure that the program is financeable and implementable. As detailed in the PAGE, achievements over the next years will build upon the progress made earlier in areas ranging from the strengthening of public financial management to improving social indicators in education and health. It is important to underscore the challenges created for the implementation of the PAGE as a result of the frequent rotation of senior civil servants and the opportunities derived from encouraging operational continuity.
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Poverty Reduction Strategy Paper (PRSP) 67310 MAR 08, 2012
The objectives of the second poverty reduction strategy paper (PRSP II) for Guinea-Bissau are to significantly reduce poverty, create and expand income-generation opportunities, and improve access to public services in the context of strengthened public institutions and an enhanced rule of law.
... See More + The PRSP II represents a comprehensive development strategy based on four pillars: (i) strengthening the rule of law and improving the efficacy of public administration; (ii) guaranteeing macroeconomic stability, consolidating public financial management reforms and fostering robust private-sector development; (iii) promoting sustainable, broad-based economic growth; and (iv) enhancing human development. The PRSP II, adopted by the government in July 2011, provides the framework for the implementation of a comprehensive strategy aimed at consolidating macroeconomic stabilization and strengthening recent improvements in economic governance. Its successful implementation would help the country enhance its economic growth conditions, strengthen the rule of law, and accelerate progress toward the achievement of the Millennium Development Goals (MDGs). The PRSP II was prepared in a participatory manner. To support strong and enduring ownership of the strategy, extensive consultations were held with key stakeholders at the national and regional levels, including representatives from government agencies, civil society, the private sector, various national institutions and Guinea-Bissau's cooperating partners. The PRSP II describes in detail the participatory process through which it was formulated, but it is not made clear precisely how stakeholder's feedback was incorporated into the emerging strategy. The PRSP II represents a substantial improvement over its predecessor in terms of analytical rigor, statistical basis and structure.
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Poverty Reduction Strategy Paper (PRSP) 63798 SEP 15, 2011
Benin's third Poverty Reduction Strategy Paper (PRSP III), also called 'La Strategie de Croissance pour la Reduction de la Pauvrete,' covers 2011 to 2015.
... See More + It considers progress achieved under the previous PRSPs and largely confirms and furthers the objectives elaborated in the PRSP II. As such, the PRSP III builds on successes, and addresses the failures and constraints encountered in implementing the previous PRSPs. The overriding objective of the PRSP III is to improve the quality of life in Benin and to place Benin on the road to emerging-market status. The document notes that achievement of the Millennium Development Goals (MDGs) is seen as attainable in water, sanitation, primary education, and primary health care, and significant progress is planned toward the other MDGs. The development objectives are: (i) accelerated economic growth; (ii) infrastructure development; (iii) strengthened human capital; (iv) good governance; and (v) balanced and sustainable regional development.
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Poverty Reduction Strategy Paper (PRSP) 63939 AUG 26, 2011
Preparation within Ethiopia took place for a year starting in September 2009 based on inputs from various government entities and a high level macro economic team in particular.
... See More + Since September 2010, country-wide consultations led by senior officials were held at the regional and local levels, and those at the federal level were chaired by the prime minister. Consultative meetings also took place with private sector participants, higher education institutions, civil society organization (including professional, religious, women, and youth associations), and development partners. The consultations provided opportunities to comment on a well-informed draft, rather than a forum to rethink the parameters and architecture of the poverty reduction strategy. This Joint Staff Advisory Note (JSAN) provides staffs' analysis and advice for the implementation of Growth and Transformation Plan (GTP). The JSAN's messages have been presented at various technical subgroup discussions on specific aspects of the GTP as well as during the consultations. The main concerns stem from heavy financing needs that have not been secured, insufficient prioritization, and the limited role envisaged for the private sector. High and rising inflation and entrenched negative real interest rates also threaten Ethiopia's macroeconomic stability. The GTP identifies financing needs and some options to meet those needs, but it does not consider the various benefits and costs or feasibility of these options. The GTP's ambitious spending plans may be outstripping the absorptive capacity of the economy, which is already stretched. The financing needs for the public sector will likely crowd out private sector credit on the domestic side and strain debt sustainability on the external side.
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Poverty Reduction Strategy Paper (PRSP) 63592 AUG 15, 2011
The Strategy for Accelerated Growth and Sustained Development (SCADD), adopted by the government in December 2010 provides a framework for the achievement of the government's goals for 2011-15.
... See More + Building on progress under the Poverty Reduction and Growth Strategy (PRSP) implemented in 2000-2010 and consistent with the country's long-term development strategy the SCADD sets out economic and social policies to support broad-based growth, sustained poverty reduction, and progress towards the Millennium Development Goals (MDGs).Macroeconomic policies and structural reform priorities in the SCADD are in line with the policy framework underpinning Burkina Faso's economic program supported by the International Monetary Fund (IMF) under the extended credit facility arrangement. The SCADD is also consistent with the recent World Bank Africa strategy and the focus on vulnerability and governance. This Joint Staff Advisory Note (JSAN) provides comments and advice from the staffs of the World Bank and IMF for strengthening the SCADD implementation, notably through annual progress reports (APRs). The SCADD builds on lessons and experiences learned from the PRSP process. While it is recognized that poverty alleviation is a long-term challenge, there is a greater scrutiny in the SCADD of the implementation process to ensure effectiveness. There is a stronger focus on private sector development, investment climate, rural transformation, and crosscutting issues including gender, population, and the environment. Building on previous efforts, the new strategy aims at strengthening the monitoring and evaluation systems, along with indicators and targets. While focusing on progress towards the MDGs and poverty reduction, the SCADD's main objective is to achieve strong and sustained economic growth. To this end, macroeconomic policies and reforms for 2011-15 aim to support economic diversification; improve the absorptive capacity for public investment; increase investment in infrastructure and the energy sector to support productivity gains in the private sector; and maintain the momentum in structural reforms implementation.
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Poverty Reduction Strategy Paper (PRSP) 61962 JUN 23, 2011