Country Policy and Institutional Assessment (CPIA) Africa 2018 : Strengthening Debt Management Capacity (Francês)

The 2019 Africa Country Policy and Institutional Assessment (CPIA) report covers the period January to December 2018. Over this period, the average quality of policies and institutions in International Development Association (IDA)-eligible countries ...  Exibir mais + The 2019 Africa Country Policy and Institutional Assessment (CPIA) report covers the period January to December 2018. Over this period, the average quality of policies and institutions in International Development Association (IDA)-eligible countries remained unchanged, amid decelerating growth across the region. The overall CPIA score for IDA countries in Sub-Saharan Africa was 3.1 in 2018, the same as 2017, reflecting the slow progress in improving the quality of policy and institutional frameworks in the region. Partly reflecting this uneven performance, per capita income growth has stagnated in recent years, and poverty headcounts remain elevated. Accelerating growth and the pace of poverty reduction in the region’s IDA countries will necessitate faster structural transformation along with the accumulation of fundamental capabilities in human capital and institutions and some degree of macroeconomic stability. Against this backdrop, the 2018 CPIA results reinforce the call for IDA countries in Sub-Saharan Africa to accelerate the pace of policy and institutional reforms to foster rapid economic growth and poverty reduction. Three areas require immediate attention. First, the quality of debt management needs to be strengthened. The buildup in public debt has continued in the context of weak debt management systems. The necessary improvements in the effectiveness of debt management need to be implemented. The number of IDA countries at high risk of debt distress or in debt distress increased further in 2018. Strong debt management capacity can enhance debt transparency, minimize contingent liabilities, render fiscal frameworks more conducive to effective countercyclical policies, and mitigate the pressures that lead to rapid debt accumulation. Over time, improved debt management would help strengthen macroeconomic stability. This year’s report focuses on debt management. Second, business regulatory reforms need to accelerate to support private sector development and job creation. Due to the slow pace of reforms, IDA countries in Sub-Saharan Africa are not converging toward the best business regulatory performance in some areas critical for private sector development including, most notably, in getting electricity. The average cost to obtain an electricity connection remains prohibitively high in many countries. Third, sustained efforts are needed to improve domestic revenue mobilization. In many countries, the yield of the domestic tax system has declined, as widespread exemptions narrowed the tax base amid weak capacity in customs and low compliance of taxpayers. Rationalizing tax exemptions and improving the efficiency of current tax systems could yield more revenue for countries to finance investments in human capital and infrastructure and ensure debt sustainability. Enforcing the rule of law, which can effectively protect property rights, strengthening accountability and transparency mechanisms, and vigorously combatting corruption remain critical.  Exibir menos -

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