P. 1
HIV/AIDS and Tuberculosis in Central Asia: From Theory to Practice

HIV/AIDS and Tuberculosis in Central Asia: From Theory to Practice

Ratings: (0)|Views: 591 |Likes:
Within the framework of increasing decentralization, the need for local governments to access financial markets is growing. As urbanization expands, local authorities need to provide more services with fewer resources from the central government. Subnational borrowing, leveraging reliable cash flows and prudent fiscal management, can be alternatives to fund such investments, especially when the useful life of the service is long and an adequate legal framework is in place to ensure fiscal and financial stability. This book, prepared by staff members of the World Bank and selected guest contributors, consists of two parts. The first part comprises a framework to study subnational governments as borrowers and the array of credit markets in which they may operate. The second part consists of case studies that document the recent experience of 18 countries in developing markets for subnational borrowers and offer lessons about fostering responsible credit market access within a framework of fiscal and financial discipline. The book pools information on the issuing of municipal debt and its characteristics, analyses the role of macroeconomic conditions and market development in the success or failure of those borrowings, and suggests recommendations to guide ongoing efforts. The goal is to assist local governments in working as strategic partners in the development and strengthening of the capital markets in emerging economies.
Within the framework of increasing decentralization, the need for local governments to access financial markets is growing. As urbanization expands, local authorities need to provide more services with fewer resources from the central government. Subnational borrowing, leveraging reliable cash flows and prudent fiscal management, can be alternatives to fund such investments, especially when the useful life of the service is long and an adequate legal framework is in place to ensure fiscal and financial stability. This book, prepared by staff members of the World Bank and selected guest contributors, consists of two parts. The first part comprises a framework to study subnational governments as borrowers and the array of credit markets in which they may operate. The second part consists of case studies that document the recent experience of 18 countries in developing markets for subnational borrowers and offer lessons about fostering responsible credit market access within a framework of fiscal and financial discipline. The book pools information on the issuing of municipal debt and its characteristics, analyses the role of macroeconomic conditions and market development in the success or failure of those borrowings, and suggests recommendations to guide ongoing efforts. The goal is to assist local governments in working as strategic partners in the development and strengthening of the capital markets in emerging economies.

More info:

Publish date: Nov 11, 2003
Added to Scribd: May 23, 2009
Copyright:AttributionISBN:9780821356876

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
See more
See less

09/16/2014

96

9780821356876

 
ZKD UB_FJ OLHA
 Mblhl EbjihkbZkbcl~ HbwbzhyKiubzd Zljd~~d Lhlzbfy Wihbatr
UB_FJ OLHA UB_AIHE PLPD_ HB( ?0
KIW"LIJ^ lhj Ztodrntfb~i~ih Ndhzrlf L~il
Nbthzry Prbgifd~
 
 Mblhl EbjihkbZkbcl~ HbwbzhyKiubzd Zljd~~d Lhlzbfy Wihbatr
UB_FJ OLHA UB_AIHE PLPD_ HB( ?0
KIW"LIJ^ lhj Ztodrntfb~i~ ihNdhzrlf L~il
Nbthzry Prb﬌fd~
ZKD UB_FJ OLHA
Ul~kihezbh& J(N(
 
Nbpyriekz © ?00:Zkd Ihzdrhlzibhlf Olha gbr _dnbh~zrtnzibh lhj Jdwdfbpcdhz " Zkd Ubrfj Olha <;<; K ^zrddz& H(U( Ul~kihezbh& J(N( ?0:>>& T(^(L( Lff riekz~ rd~drwdjClhtglnztrdj ih zkd Thizdj ^zlzd~ bg LcdrinlGir~z prihzihe= Hbwdcodr ?00>
prihzdj bh rdnynfdj plpdr
< ? > : 04 0: 0> Ubrfj Olha Ubraihe Plpdr~ lrd ptofi~kdj zb nbccthinlzd zkd rd~tfz~ bg zkd Olha%~ ubra zb zkdjdwdfbpcdhz nbccthizy uizk zkd fdl~z pb~~iofd jdfly( Zkd zypd~nripz bg zki~ plpdr zkdrdgbrd kl~hbz oddh prdplrdj ih lnnbrjlhnd uizk zkd prbndjtrd~ lpprbprilzd zb mbtrhlf prihzdj zd{z~& lhj zkd Ubrfj Olha lnndpz~ hb rd~pbh~ioifizy gbr drrbr~( ^bcd ~btrnd~ nizdj ih zki~ plpdr cly od ihgbrclfjbntcdhz~ zklz lrd hbz rdljify lwliflofd(Zkd ﬌hjihe~& ihzdrprdzlzibh~& lhj nbhnft~ibh~ d{prd~~dj ih zki~ plpdr lrd dhzirdfy zkb~d bg zkdltzkbr+~) lhj jb hbz hdnd~~lrify rd﬏dnz zkd widu~ bg zkd Oblrj bg D{dntziwd Jirdnzbr~ bg zkd UbrfjOlha br zkd ebwdrhcdhz~ zkdy rdprd~dhz( Zkd Ubrfj Olha nlhhbz etlrlhzdd zkd lnntrlny bg zkdjlzl ihnftjdj ih zki~ ubra( Zkd obthjlrid~& nbfbr~& jdhbcihlzibh~& lhj bzkdr ihgbrclzibh ~kbuhbh lhy clp ih zki~ ubra jb hbz icpfy bh zkd plrz bg zkd Ubrfj Olha lhy mtjecdhz bg zkd fdelf ~zl#zt~ bg lhy zdrrizbry br zkd dhjbr~dcdhz br lnndpzlhnd bg ~tnk obthjlrid~(Zkd clzdrilf ih zki~ ptofinlzibh i~ nbpyriekzdj( Zkd Ubrfj Olha dhnbtrled~ ji~~dcihlzibh bg iz~ ubra lhj hbrclffy uiff erlhz pdrci~~ibh gbr t~d(Pdrci~~ibh zb pkbzbnbpy izdc~ gbr ihzdrhlf br pdr~bhlf t~d& gbr zkd ihzdrhlf br pdr~bhlf t~d bg ~pdni﬌n nfidhz~& br gbr djtnlzibhlf nfl~~rbbc t~d& i~ erlhzdj oy zkd Ubrfj Olha& prbwijdj zklz zkdlpprbprilzd gdd i~ plij( Pfdl~d nbhzlnz zkd Nbpyriekz Nfdlrlhnd Ndhzdr odgbrd pkbzbnbpyihe izdc~(Nbpyriekz Nfdlrlhnd Ndhzdr& Ihn(??? _b~dubbj JriwdJlhwdr~& CL 0<9?>& T(^(L(Zdf= 95;#540#;:00   Gl{= 95;#540#::50(Gbr pdrci~~ibh zb rdprihz ihjiwijtlf lrzinfd~ br nklpzdr~& pfdl~d gl{ ybtr rd|td~z uizk nbcpfdzdihgbrclzibh zb zkd _dptofinlzibh Jdplrzcdhz& Nbpyriekz Nfdlrlhnd Ndhzdr& gl{ 95;#540#::50( Lff bzkdr |tdrid~ bh riekz~ lhj findh~d~ ~kbtfj od ljjrd~~dj zb zkd Ubrfj Olha lz zkd ljjrd~~lobwd& br gl{dj zb ?0?#4??#?:??(I^OH= 0#;?<>#47;5#9dI^OH= 0#;?<>#47;;#5I^^H= <5?7#4;5;Mblhl Ebjihkb i~ ^dhibr Kdlfzk ^pdnilfi~z ih zkd Ktclh Jdwdfbpcdhz Jdplrzcdhz& lhj KiubzdZljd~~d i~ l Prberlc L~~i~zlhz ih zkd Dhwirbhcdhz lhj ^t~zlihlofd Jdwdfbpcdhz Jdplrzcdhz&Dtrbpd lhj Ndhzrlf L~il _deibh& Zkd Ubrfj Olha( Zkbcl~ Hbwbzhy i~ zkd Jirdnzbr bg Ihzdrhl#zibhlf Prberlc~ lz zkd Thiwdr~izy bg Nlfigbrhil& ^lh Grlhni~nb& lhj Lhlzbfy Wihbatr i~ zkd KdlfzkJdptzy Prberlccd Clhledr Kdlfzk gbr JGIJ ih _t~~il(
 Fiorlry bg Nbherd~~ Nlzlfbeihe#ih#Ptofinlzibh Jlzl kl~ oddh rd|td~zdj(

Activity (3)

You've already reviewed this. Edit your review.
1 thousand reads
1 hundred reads

You're Reading a Free Preview

Download