Achieving poverty reduction in the least developed countries will require the mobilization of substantial financial resources. At the country level it will depend on (a) improved budgetary management and revenue collection and enhanced private savings and investment opportunities; (b) the generation of foreign exchange, through increased exports and remittances; (c) the ability, in partnership with donors, to reduce existing debt burdens while increasing the quantity, quality and effectiveness of new aid flows; and (d) the ability to attract private capital (investment and commercial inflows) and to reverse capital flight where it has occurred. In designing institutions for good governance…
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This paper examines innovative approaches to domestic resource mobilization in selected Least Developed Countries. It covers various aspects of domestic resource mobilization with focus on the linkages to poverty reduction and growth. The areas addressed in this paper include: financial sector reform policies for growth and poverty reduction, Microfinancing, taxation for growth and poverty reduction, management of domestic debt, government spending targeted to crowd in private savings and investment (including public-private partnerships), and mobilization of private capita, including reversal of capital flight and more innovative and active participation in the international trade.
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The aim of this paper is to summarize for discussion purposes arguments related to the debt crisis of poor developing countries and the attempts to cope with it through the HIPC Initiative.
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This is a report on resource mobilization for poverty eradication in the least developed countries. The first part of the report provides an overview of the current challenges faced by the LDCs in reducing the high rates of widespread poverty. The second part discusses innovative approaches to domestic resource mobilization in LDCs, and addresses how domestic resource mobilization can be managed more innovatively and with greater effectiveness. The third part examines new approaches to debt relief and debt sustainability. It provides a brief overview of the debt situation in LDCs, and examines the need for innovate ideas to reduce foreign debt. The last section discusses specific measures…
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