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Central Bank Digital Currency: Progress And Further Considerations
November 8, 2024
The paper briefs the Executive Board on the further considerations on CBDC. These cover the positioning of CBDC in the payments landscape, cyber resilience of the CBDC ecosystem, CBDC adoption, CBDC data use and privacy protection, implications for monetary policy operations, and cross-border payments with retail CBDC.
Honduras: Diagnóstico de Política Climática
November 8, 2024
Resumen De Alto Nivel Informe De Asistencia Técnica: Honduras: Diagnóstico de Política Climática
Colombia: Technical Assistance Report-Report of the Diagnostic Mission on Macro-relevant Climate Change Statistics (July 17–21, 2023)
November 8, 2024
Colombia is deeply committed to climate change policies, as evidenced by Law N° 1931 (2018), which outlines actions to adapt to climate change and reduce greenhouse gas emissions, aiming to decrease the vulnerability of the population and ecosystems while promoting a sustainable, low-carbon economy. The National Statistical office of the country, Departamento Administrativo Nacional de Estadística (DANE), is dedicated to developing integrated environmental and economic data, and regularly compiles and disseminates selected accounts from the System of Environmental-Economic Accounting (SEEA). However, to effectively implement climate change mitigation and adaptation strategies, Colombia requires substantial amounts of granular, relevant, and reliable data for evidence-based planning. In this context, a mission took place from July 17-21, 2023, funded by the Swiss State Secretariat for Economic Affairs (SECO) and hosted by DANE. During this mission, discussions with authorities focused on key priorities, identifying feasible developments such as enhancements to existing SEEA energy and emissions flow accounts, mineral and energy asset accounts, and the establishment of domestic carbon footprints.
South Africa: Technical Assistance Report-Report on the Compilation of Energy and Air Emissions Accounts Mission (June 10-14, 2024)
November 8, 2024
A technical assistance (TA) mission was undertaken with the Statistics South Africa in Pretoria, between June 10–14, 2024. The objective of the mission was to support Statistics South Africa and other relevant official agencies in the compilation of energy and air emissions accounts. The tasks completed included the review of the scope and coverage of existing data sources and accounts, the identification of the new sets of information to be collected, and the review of the available methodological options for the compilation of the updated energy and air emissions accounts. An action plan for the compilation and release of the specified accounts and indicators was developed and agreed with the authorities.
Colombia: Technical Assistance Report-Report on the Mineral Asset Accounts and Carbon Footprints Mission (May 20–24, 2024)
November 8, 2024
A technical assistance (TA) mission was undertaken with the Departamento Administrativo Nacional de Estadística (DANE), Colombia between May 20-24, 2024. The objective of the mission was to support DANE in the compilation of updated energy and air emissions accounts, mineral and energy monetary asset accounts, and domestic carbon footprints. The tasks completed included the review of the scope and coverage of existing data sources and accounts, the identification of the new sets of information to be collected, and the review of the available methodological options for the compilation of the updated energy and air emissions accounts, mineral and energy monetary asset accounts, and domestic carbon footprints. An action plan for the compilation and release of the specified accounts and indicators was developed and agreed with the authorities.
Vietnam: Technical Assistance Report-Report on Residential Property Price Index Mission (April 22-26, 2024)
November 8, 2024
At the request of the Government Statistics Office (GSO), a technical assistance mission was conducted between April 22–26, 2024 to assist with the ongoing development of a Residential Property Price Index (RPPI). This was the fourth mission to assist the GSO with developing an RPPI and continues the progress made during a virtual mission held in 2021. The mission was funded by the Data for Decisions (D4D) Fund.
In the absence of suitable administrative data on property transactions, the GSO has assessed the potential for using both a survey of property and sellers and online property listings to underpin the compilation of an RPPI. Recent taxation developments might increase the potential for using administrative data on property transactions in the future. While previously, these taxation data on property transactions were in paper format and suffered from under-reporting of transaction prices, electronic reporting of property transactions is gradually being extended to national coverage and legal changes might reduce the incidence of under-reporting of prices.
Republic of Tajikistan: Technical Assistance Report-Public Investment Management Assessment with the Climate Module
November 8, 2024
This report summarizes findings from a Public Investment Management Assessment (PIMA) and the Climate Module (C-PIMA) conducted for Tajikistan. The assessment evaluated the country's public investment management practices, including their climate sensitivity. Tajikistan performs well in certain areas but faces significant gaps in others. Parallel external and internally financed processes present recurring challenges across Tajikistan’s public investment management framework, limiting consistency and strategic alignment. Implementing a comprehensive framework for overseeing all projects, regardless of funding source, would significantly improve efficiency and climate responsiveness.
Republic Of Tajikistan: Fiscal Risk Management and Transparency of State-Owned Enterprises
November 8, 2024
High-Level Summary Technical Assistance Report: Republic Of Tajikistan: Fiscal Risk Management and Transparency of State-Owned Enterprises
Citizens Perceptions of Tax Authorities and Tax Efficiency
November 8, 2024
This paper examines the relationship between citizens’ perceptions of tax authorities and the governments’ efficiency in collecting VAT and CIT revenues in Africa. Drawing on data from 32 countries over 2014-2019, we find a negative and significant association between negative perceptions of trust in authorities (the tax department) from the Afrobarometer survey and tax efficiency for these revenue categories. A 1 percent increase in the share of citizens’ perception of little or no trust in the tax department leads to a 0.22 percent decrease in VAT tax efficiency, controlling for macroeconomic indicators. The magnitude of the effect is significantly greater in fragile compared to non-fragile states. For corporate income tax productivity focusing on tax payments of corporates we find a significant effect only in fragile states. Perceptions about corruption in tax authorities have a similar effect on VAT and CIT tax efficiency since perceptions about trust and corruption capture the tendency to misappropriate revenues but we are unable to distinguish the two effects except for fragile states. Our findings suggest that in the face of fragility, policies aimed at improving fiscal capacity should place a high importance on ensuring that citizens believe resources will be used properly, an aspect of tax policy not typically prioritized.
Lao People's Democratic Republic: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Lao People's Democratic Republic
November 8, 2024
Growth gathered momentum in 2023 on the back of recovering external
demand, but exchange rate depreciation continues and inflation remains persistently
high. Labor and FX shortages are intensifying. Public debt is assessed to be
unsustainable, despite a tight fiscal stance. FX reserves remain low.