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Drawing on the evidence from seven countries of sub-Saharan Africa, explores the anti-poverty effects of Poverty Reduction Strategy Papers (PRSPs) which were introduced in late 1999 as a device to help ensure the proper use of debt relief under the Enhanced Highly Indebted Poor Countries facility (HIPC2).
This Poverty Reduction Strategy Paper for the Kingdom of Lesotho presents a determined plan in pursuance of high and sustainable equity-based economic growth. It contains medium-term objectives and strategies to address the major challenges facing the country. These challenges include employment creation and income generation, and improving quality of and access to education and health services. Lesotho plans to deal boldly with its trading and investment partners by exploiting the opportunities inherent in the process of globalization under such mechanisms as the Africa Growth and Opportunities Act.
This Poverty Reduction Strategy Paper on the Democratic Republic of Congo discusses economic policies and development. The macroeconomic and budget framework has been developed to take into account the effects of sectoral policies to maintain macroeconomic stability, a necessary condition for laying the foundation of economic growth and poverty reduction. It is based on the profile of public spending, the assessment of costs for achieving the Millennium Development Goals by 2020, and the sector-based economic growth theories taking into account the uncertainties of the international environment and the real potential of the Congolese economy. It is found that it allows for a realistic programming of public spending while highlighting the main budgetary choices proposed by the government.
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This pamphlet excerpts a chapter on macroeconomic policy from the Poverty Reduction Policy Source book, a guide prepared by the World Bank and IMF to assist countries in developing and strengthening their poverty reduction strategies. It probes the relationship between macroeconomic policy matters, such as growth and inflation, and the fight against poverty, and explains how sound monetary and fiscal policies-key tools of the macroeconomist-can help to spur growth and ease poverty.
The government of the Republic of Congo launched a program aimed at consolidating peace and promoting economic and social development. The objectives included improvement of governance and consolidation of peace and security, promotion of growth and macroeconomic stability, improvement of public access to basic social services, improvement of the social environment, integration of disadvantaged groups, and combating HIV/AIDS. The review shows that much remains to be accomplished, and building on the significant gains of recent years, the decision to expand and strengthen the strategic poverty reduction framework was made.
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Guyana continues to make progress in laying the foundation for poverty reduction, but at a very slow pace. Critical issues remain unresolved. The political situation remains problematic, with the two main parties divided along ethnic lines. The most recent mechanism to facilitate a constructive working arrangement between the two parties has broken down and is unlikely to be revived in its current form. Much then depends on the ability of parliament and other institutions to work effectively, which will require that they be strengthened considerably. The Government has scheduled local elections for September 2004, but it is yet to be seen if these can be carried out peacefully, and with the cooperation of the opposition. As the economy remains dependent on certain primary products-bauxite, sugar and rice-which, with the exception of sugar, provide a limited potential for future growth, there is need to diversify the economy to create jobs in other sectors. Establishing an environment for sustained growth remains the main challenge for the Government in the future. Linked with this is the continued need to improve the rule o f law, transparency, and governance in order to provide an efficient and transparent framework within which the private sector can operate. The progress report provides a revised policy matrix that focuses on key issues and updates the matrix in the original PRSP. However, given the downward revision of the overall macroeconomic and expenditure framework,