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Begin New Search Topic Financial Crisis Content Type Policy Brief Publishing Institution United States Institute of Peace Publication Year within 25 Years

1. Afghanistan's Continuing Fiscal Crisis: No End In Sight

Author:
William A. Byrd
Publication Date:
05-2015
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
For several years, Afghanistan’s economy and public finances have worsened, culminating in a full-blown fiscal crisis in 2014. Political uncertainties, the weakening Afghan economy, corruption in tax collection, stagnant government revenues, and increasing expenditures have contributed to the current fiscal impasse. In the absence of bold actions by the Afghan government along with proactive international support to turn around the fiscal situation, the fiscal crisis and its insidious effects will continue.
Topic:
Conflict Resolution, Corruption, Economics, and Financial Crisis
Political Geography:
Afghanistan and Central Asia

2. Afghanistan's Looming Fiscal Crisis: What Can Be Done?

Author:
William A. Byrd
Publication Date:
08-2014
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
Afghanistan faces a fiscal crisis that reflects worsening domestic revenue shortfalls since 2011, which could reach $1 billion in 2014 compared with the 2011 outlook. The massive theft and fraud at Kabul Bank, failure of mining activities to pay taxes and royalties, and mislabeling of some commercial imports as duty-free are among other contributing factors. Turning the fiscal crisis around will take time, but a legitimate, credible new Afghan government coming into office is essential. Quality leadership and management teams in the Ministry of Finance and the Central Bank will be crucial for success. Urgent measures are needed to turn around poor revenue performance, including strong signals from the top, possible exploitation of limited new revenue sources, and cooperation among different agencies to reduce smuggling and contain revenue leakages. Accelerated recovery of stolen and lost Kabul Bank assets should be a priority, which could provide over $100 million per year of extra fiscal space for the budget. Reforms of the revenue system need to be initiated, including introduction of a value-added tax, and possibly reform of the revenue and customs services. Expenditures will need to be cut. This requires the elimination of unnecessary and wasteful expenditures as well as the meaningful prioritization of programs within a tight resource envelope. Additional international fiscal support will be needed to help stabilize the budget in the short run. Linking aid for the Afghan discretionary budget to increases in domestic revenues and Kabul Bank recoveries would make sense.
Topic:
Debt, Economics, Foreign Aid, and Financial Crisis
Political Geography:
Afghanistan

3. Return to War in Sudan's Nuba Mountains

Author:
Julie Flint
Publication Date:
11-2011
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
The response to the renewed war in Sudan's Nuba Mountains has been driven largely by a human rights and humanitarian crisis. The crisis will continue indefinitely without a political agreement that acknowledges the Nuba rebellion is self-sustaining and reflects a wider malaise within the new Republic of Sudan. With Sudan facing financial collapse, economic normalization must be part of negotiations with Khartoum to end the war in the Nuba Mountains and promote democratization throughout Sudan.
Topic:
Conflict Resolution, Democratization, Development, Human Rights, War, Insurgency, and Financial Crisis
Political Geography:
Africa and Sudan

4. Toxic Legacy: Hunger, Oppression, Migration, and Health in the Democratic People's Republic of Korea

Author:
Leonard S. Rubenstein
Publication Date:
01-2011
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
During the 1990s, economic mismanagement, political oppression, natural disaster, and loss of external subsidies after the end of communism led to a calamitous decrease in food production in the Democratic People's Republic of Korea (DPRK). The public health infrastructure, including water and sanitation systems, drug distribution and supply chains, and local clinics and hospitals, also deteriorated. At least half a million people died of starvation and millions more suffered acute or chronic malnutrition. Malnutrition increased vulnerability to disease at a time when the health system was incapable of effective response. Fifeen years later, neither health nor the food systems have recovered as the economy persistently stagnates. Health continues to be a low priority for the government. The availability of food is insufficient to meet population needs, hospitals and clinics are significantly ill-equipped, the medical workforce lacks appropriate training, and corruption in drug distribution is pervasive. Malnutrition and anemia, as well as diseases associated with poor sanitation, remain widespread. Over the last few years, DPRK has begun to accept international assistance to address health system needs, most notably to vaccinate children. Although these initiatives address some infrastructure needs, the continued centralized control of health and the lack of open discussion about key issues renders the possibility of reforms sufficient to meet the health needs of the people of North Korea dim. During the economic crisis, tens of thousands of North Koreans migrated to China despite harsh measures imposed by both governments to restrict border crossing and a refusal by China to give legal status to the migrants. To a limited extent, migration ameliorated the health impact of the crisis by stimulating illicit cross-border trade and informal markets that increased some North Koreans' access to food. Even after a disastrous effort by the DPRK government to shut the markets down in 2009, they are re-emerging. China's encouragement of these markets, along with regularizing the status of migrants in China, could advance its own economic interests as well as contributing to improving the health of North Koreans.
Topic:
Communism, Economics, Health, Markets, and Financial Crisis
Political Geography:
China, Israel, and North Korea

5. Haiti: Is Economic Security Possible if Diplomats and Donors Do Their Part?

Author:
Robert Perito
Publication Date:
05-2009
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
In 2009, Haiti has been the subject of an unprecedented diplomatic initiative led by the United Nations. In rapid succession, Haiti received visits from the UN Secretary General Ban Ki-moon, the UN Security Council, former President Bill Clinton and Secretary of State Hillary Clinton and numerous senior delegations from Caribbean and South American countries. In April, Haiti was the subject of an international donors' conference hosted by the Inter-American Development Bank that reaffirmed previous commitments and pledged $324 million in new economic assistance. The visits and the donors' conference were preceded by a UN sponsored report by Oxford economist and bestselling author Paul Collier on specific steps that could help Haiti achieve economic security.
Topic:
Conflict Resolution, Diplomacy, Economics, Foreign Aid, and Financial Crisis
Political Geography:
South America, Caribbean, and Haiti