The objective of this public expenditure review (PER) is to provide the government with options for fiscal consolidation and support macroeconomic stability in the medium-term. This PER addresses the broad topic of expenditure efficiency and examines options for expenditure rationalization to...

The Nigeria Public Finance Review is part of a programmatic effort of fiscal analytics that the World Bank is conducting with the Nigerian government. Ongoing analyses is shared as presentations and technical notes in a continuous dialogue. The emphasis is on establishing a baseline...

This World Bank Discussion Paper brings together two contributions on external debt issues. The first paper discusses the insurability of sovereign debt against default. The second paper reviews numerous studies that have been conducted over the years to identify the variables that could predict...

This paper presents a framework for evaluating the level and composition of public expenditures, illustrated by sectoral and country examples.

Program-based approaches to providing development assistance, especially sector investment programs (SIPs), are receiving increased attention as donors and recipient countries search for effective instruments to foster sustainable development. A SIP is a long-term national program covering...

This paper gives an overview on current demographic trends and projected population change in Europe and neighboring regions. The main focus of the analysis is on Western and Central Europe. Today this world region has a total population of 500 million. Available forecasts until the year 2050...

Rapid population ageing has led to repeated adjustments to the parameters of Japan's public pension scheme over the last decade, all aimed at achieving long run financial balance. The most recent attempt, describe in this paper, introduces an adjustment mechanism that links future benefit levels...

Benefiting from successful economic transformation after independence and the start of EU accession negotiations, economic activity in Montenegro has been solid, supporting the rise in incomes their convergence with the ones in the European Union. Inflation has been modest and kept in check....

The Ecuador public finance review (PFR) series responded to a request from the Ecuadorian Ministry of Economy and Finance (MEF) to assess the efficiency and effectiveness of public spending. The PFR series offers a combination of analysis, capacity building, and options for reform in selected...

The Subnational public finance report is the first in a series of World Bank reports that analyze local and regional government fiscal and financial developments in Croatia. The objective of this work is to offer policy advice on improving public service delivery in a fiscally efficient and...