July 18, 2017Doug Hadden
Interesting news from last week in PFM and development, found by our FreeBalance Strategy and Innovation Group.
WORLD HEALTH ORGANIZATION SPENDS MORE ON TRAVEL THAN AIDS OR MALARIA: $200M on travel, $71M on AIDS & hepatitis, $61M on malaria, $59M on tuberculosis, $450M on polio, according to the Associated Press.
RESOURCE CURSE MEETS DONOR CURSE IN NIGERIA: Nigeria unable to borrow to fund budget according to the Finance Minister. Reuters suggests that this puts the $2B in upcoming loans in question.
POWER OF DEVELOPMENT INDICATORS: Morten Jerven reminds us that indicators are powerful even though” Freedom House actually does not measure ‘democracy’; that the Consumer Price Index does not actually measure ‘inflation’; nor does Transparency International actually measure ‘corruption’.”
SCREENING FOR PROCUREMENT CARTELS: UK Government releases a tool in GitHub to help procurement agencies identify cartels and collusion.
INFRASTRUCTURE GAP: Otaviano Canuto of the World Bank describes the “infrastructure gap” in Capital Finance International. There is a significant gap between needed infrastructure and available financing for governments.
UK RELEASES FISCAL RISKS REPORT:Vitor Gaspar Jason Harris on IMF PFM blog describes the new UK public finance risk report. This report identifies risks including:
- “Macroeconomic—that growth might be lower, inflation higher, or interest costs more expensive, including the uncertainty related to Brexit
- Spending and revenue related—such as the potential for larger than expected increases in welfare spending, and the concentration of tax receipts among a small number of payers
- Contingent liabilities—such as the potential cost of nuclear decommissioning and clinical medical negligence costs
- Implicit risks stemming from the financial sector—which the report notes have been reduced due to post-crisis regulatory reforms, but whose liabilities still represent almost 900 percent of GDP.
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