The topic of the joint Country Session of Rwanda and Tanzania was 'Toward Monetary Union in East Africa'. It focused on the progress and challenges of progress towards creating an East African monetary union. The presentations in this slideshare are from Christopher Adam and Dick Durevall.
Policy responses to the global economic crisis: Too little, too late?Latvijas Banka
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Robert Chote: Public finances and health careThe King's Fund
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Presentation by Andrew Bosomworth, Managing Director, PIMCO, at the Bank of Latvia conference "Economic Adjustment under Sovereign Debt Crisis: Can Experience of the Baltics Be Applied to Others?"
Riga, November 2, 2012.
BT Financial Monthly Market Chart - June 2010BT Financial
BT Financial Monthly Markets Chart: June2010. An overview of movements in global financial markets. Prepared by BT Wrap for the adviser market. Includes review of global share markets as well as Australian share market, dominant currencies, interest rates and both short and long term asset classes.
Robert Chote: Public finances and health careThe King's Fund
Robert Chote, Chairman of the Office for Budget Responsibility (OBR), shares the results of the OBR’s 2012 Fiscal Sustainability report, with a specific focus on health care spending.
Paul Johnson, Director, Institute of Fiscal Studies, gives a background to economic growth in the UK and discusses what future NHS spending could look like.
Rahamuseon webinaari: Ilmastonmuutoksen vaikutus valtionlainoihin sijoituskoh...Finanssivalvonta
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BT Financial Monthly Market Chart - May 2010BT Financial
BT Financial Monthly Markets Chart: May 2010. An overview of movements in global financial markets. Prepared by BT Wrap for the adviser market. Includes review of global share markets as well as Australian share market, dominant currencies, interest rates and both short and long term asset classes.
Paul Johnson, Director, Institute of Fiscal Studies, gives a background to economic growth in the UK and discusses what future NHS spending could look like.
Rahamuseon webinaari: Ilmastonmuutoksen vaikutus valtionlainoihin sijoituskoh...Finanssivalvonta
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BT Financial Monthly Chart - April 2010BT Financial
BT Financial Monthly Markets Chart: April 2010. An overview of movements in global financial markets. Prepared by BT Financial which includes reviews of the global share markets as well as Australian share market, dominant currencies, interest rates and both short and long term asset classes.
BT Financial Monthly Market Chart - May 2010BT Financial
BT Financial Monthly Markets Chart: May 2010. An overview of movements in global financial markets. Prepared by BT Wrap for the adviser market. Includes review of global share markets as well as Australian share market, dominant currencies, interest rates and both short and long term asset classes.
The Country Session on Tanzania focused on the Tanzania National Development Vision and discussed emerging research issues. The presentations in this slideshare are from Christopher Adam, Pantaleo Kessy, Martina Kirchberger and Mujobo Moyo.
Presentación Ministro de Hacienda, Mauricio Cárdenas, en foro de Goldman Sachs: Perspectives and challenges of an outperformerPost-election realizado en Miami
Annual Survey for the CEO's of the Council of Manufacturing Associations. If you are a member and would like to get a copy of 2012's, please contact us and we will be happy to send it to you.
The Country Session on Mozambique was divided into two parts: ‘The Future of Agriculture and Economic Growth in Mozambique’ and ‘Urbanisation and Low Income Housing in Maputo’. The presentations in this slideshare are from Marcelo Chaquisse, Carlos Guanziroli, Catia Batista, Francisco Pereira, Rogerio N'Komo and Verena Andreatta.
The Country Session on Rwanda comprised three presentations on topics such as agronomy practices amongst coffee farmers and the Land Tenure Regularization programme. The presentations were followed by an open discussion. The presentations in this slideshare are from Marcel Fafchamps and Eliana La Ferrara.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
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Safalta Digital marketing institute in Noida, provide complete applications that encompass a huge range of virtual advertising and marketing additives, which includes search engine optimization, virtual communication advertising, pay-per-click on marketing, content material advertising, internet analytics, and greater. These university courses are designed for students who possess a comprehensive understanding of virtual marketing strategies and attributes.Safalta Digital Marketing Institute in Noida is a first choice for young individuals or students who are looking to start their careers in the field of digital advertising. The institute gives specialized courses designed and certification.
for beginners, providing thorough training in areas such as SEO, digital communication marketing, and PPC training in Noida. After finishing the program, students receive the certifications recognised by top different universitie, setting a strong foundation for a successful career in digital marketing.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Normal Labour/ Stages of Labour/ Mechanism of LabourWasim Ak
Normal labor is also termed spontaneous labor, defined as the natural physiological process through which the fetus, placenta, and membranes are expelled from the uterus through the birth canal at term (37 to 42 weeks
Home assignment II on Spectroscopy 2024 Answers.pdf
Growth Week 2011: Joint Country Session – Rwanda/Tanzania
1. Tanzania: Fiscal Challenges
IGC Growth Week, 20 September 2011
Christopher Adam – Oxford and IGC
Stephen A. O’Connell (Swarthmore)
Peter J Montiel (Williams)
2. Fiscal Tensions
Unwinding ESF / Action Plan
• Deteriorating external conditions –food and fuel prices
• Declining donor flows
• ‘Flattening’ revenue mobilization
• => need for fiscal consolidation
Expenditure priorities (TNDV2025)
• Demographic pressures on recurrent budget
• Meeting current MDG obligations
• Recurrent implications of public investment
Key question
• How much fiscal space?
3. Tanzania: Government Operations and Financing
2001-2012
Total Expenditure and Net Lending Domestic Revenue
Grants Net Foreign Financing
Net Domestic Financing
35%
30%
25%
20%
15%
10%
5%
0%
2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11p 2011/12b
3
-5%
5. Fiscal sustainability
• Growth in recurrent spending is worrisome when projected into the future
only to the extent that such spending is not productive and is not offset
elsewhere by reductions in unproductive development spending or by
increased revenues.
• How much of the recent stagnation in the revenue-to-GDP ratio is due to
the effects of the international recession and to purposive countercyclical
measures on the part of the government?
• What prospects are there for raising the revenue ratio, through tax
reforms and increased administrative measures, and what constitutes an
appropriate level of ambition on enhancing tax effort?
6. Fiscal sustainability
• How does donor fiscal stringency on prospective aid flows?
• Do the favorable terms Tanzania is currently able to secure on non-
concessional borrowing reflect the continued engagement of donors?
• If so, a contraction in donor flows may see the cost as well as the volume
of non-concessional financing rise, requiring a sharper fiscal adjustment.
• To the extent that continued donor engagement is influenced by concerns
on fiscal performance, the balance of effort should be towards enhanced
domestic revenue mobilization and improved expenditure efficiency
rather than achieving deficit reduction by cutting back on productive
recurrent expenditures.
7. Recurrent cost implications: some back of the
envelope calculations
• Public Output : Q = Lθ K 1−θ
• Cost of labour per unit of public capital:
wL / K
=incremental cost of labour per unit of public investment for K/L unchanged.
Re-write : wL wL
= .(r + δ )
•
K (r + δ ) K
• Note wL θ
= ≈ 1.5
(r + δ ) K 1 − θ
If r + δ ≈ 0.10 => recurrent cost is 15 percent per dollar; at gross return of
0.20 the recurrent cost is 30 percent per dollar. Current fiscal arithmetic tends to book
depreciation costs only +/- 5% per annum.
8. East African Community: Pre-conditions
for an effective monetary union
Dick Durevall
International growth Centre and University of
Gothenburg
9. Outline
Four types of pre-conditions
Current economic structure (Optimum Currency
Area arguments)
Political and institutional pre-conditions
Convergence criteria
Fiscal policy rules
Conclusion
10. Current economic structure
Monetary stability (see Figure 1)
Governments have a history of weak monetary discipline
Asymmetric shocks (Figure 2 and 3)
Agricultural supply and terms of trade shocks
The importance of exchange rate flexibility?
Regional and international trade integration
Transaction costs
Financial Integration
Structural divergence
14. Political and institutional
pre-conditions
Political will to form a monetary union crucial
Need for supranational institutions
Require political will and needed when will is failing
Legitimacy and acceptance of supranational institutions
Institutional preparation
Prepare and ratify necessary legal instruments and set up institutions
such as the East African Monetary Institute (EAMI)
Carry out technical preparatory work to create the operational and
regulatory foundation for EAMU.
Customs Union ‘completed’ in 2010, Common Market in 2015.
ECB (2010) report on EAMU: a lot of work is needed before it
can be established
15. Convergence criteria
Stage II (2011-2014)
Primary Criteria
a) Overall Budget Deficit to GDP Ratio (excluding grants) not exceeding 5%; and Overall
Budget deficit to GDP Ratio (including grants) not exceeding 2%;
b) Annual Average Inflation Rate of not more than 5%;
c) External Reserves of more than 6 months of imports of goods and non-factor services.
Secondary Criteria
a) Maintenance of Market Based Interest Rates;
b) Maintenance of high and sustainable rate of real GDP growth of not less than 7.0%;
c) Sustained pursuit of debt sustainability;
d) Domestic Savings to GDP Ratio of at least 20%; and
e) Maintenance of sustainable level of Current Account Deficit (excluding grants) as % of
GDP.
16. Convergence criteria
Several problems with the criteria
Definitions and measures not defined (prices, dates, sustainability)
Too ambitious and not under the control of government (7% GDP
growth)
Inconsistent (budget deficits with a without grants)
Use of absolute levels instead of relative levels (5% inflation)
The EAC has a criterion for the real exchange rate in Stage I; but
there is no criterion for nominal exchange rates, and nothing in Stage
II.
Risk of costly short-term adjustment when EAMU formed
Key issue for EAMU is the credibility of the monetary policy
framework adopted by the EACB, and not big adjustment after
unification.
17. Fiscal policy rules
Fiscal policy and free-rider problem
Without rules, fiscal policy is too expansionary
Bailout, risk of bailout, and high inflation due to deficits
Controversial issue, but not any longer
Beetsma and Giuliodori (2010) conclude there is a rationale for fiscal
constraints
Public debt and fragility of monetary unions
De Grauwe’s example, Spain and the UK
How to design fiscal policy rules (without political union)
Must allow for countercyclical fiscal policy
Must allow for external shocks
How to enforce the rules
How to impose sanctions without worsening the debt
Suggestions: mechanic sanctions and stabilization fund, joint issue of
Eurobonds, (national) rules for balanced budget over business cycle,
independent fiscal policy authority, etc
18. Conclusion
Many potentially positive effects of a monetary union
Rwanda, a small landlocked country, should benefit
Major risks
Political will might be lacking in practice
Inadequate implementation and weak central bank
Short-run costs might generate discontent and public protest
Large political changes/upheavals
Cost of loss of exchange rate flexibility?
Much work is needed to develop
supranational institutions to enforce decisions
legal framework and an institutional structure specifically for the
monetary union
sensible convergence criteria (exchange rates, budget deficits)
fiscal policy rules
19. Table 1. Indicators of economic
structure
Kenya Rwanda Tanzania Uganda Burundi
GDP per capita (current US$) in 2010 767 548 527 503 189
GDP per capita, PPP (current international $) in 2010 1621 1194 1423 1249 399
Industry, value added (% of GDP) in 2009 15.3 14.5 24.3 25.8
Manufacturing, value added (% of GDP) in 2009 8.7 6.4 9.5 8.0
Agriculture, value added (% of GDP) in 2009 22.6 34.2 28.8 24.7
Services, etc., value added (% of GDP) in 2009 62.1 51.3 46.9 49.5
Trade (% of GDP) in 2010 63.5 40.9 58.4 58.0 57.7*
Note: The source is World Development Indicators. * measured in 2006.