New PDF release: Argentina: from insolvency to growth

By World Bank

ISBN-10: 0821324632

ISBN-13: 9780821324639

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Extra resources for Argentina: from insolvency to growth

Sample text

It is essential that the Government maintain this policy and avoid using asset sales to finance current expenditures. Because of the debt consolidation (discussed below), the indebtedness of the Government will increase in 1993 despite the debt reduction agreement with commercial creditors. Therefore, any one-time extraordinary revenues through asset sales should be used to reduce debt. 46. Budget transfers amount to US$2 billion annually and should be phased down in accordance with the privatization and enterprise restructuring schedule.

35. At the same time, the shift of secondary education to the provinces should facilitate the downsizing or even closure of the Ministry of Education. Selected programs, such as Budget and Education Policy (US$45 million), Teacher Education and Training Programs (US$83 million), the Cultural Budget (US$16 million), Technical Education Council (US$17 million), and Scientific Research (US$42 million), should be reviewed for their effectiveness. 36. In the future, it will be necessary to increase educational spending to pay for the equalization of teacher salaries for secondary education, increase overall pay linked to other productivity measures, improve school materials that are woefully out of date, and rehabilitate deteriorating plant and equipment.

Cleaning Up the Old System 152 E. Managing the Medium-Term Transition 156 F. Recommendations 160 Chapter 12. Public Investment 162 A. Capital Stock and Recent Trends in Investment 162 B. Recent Trends in Public Investment 164 C. Public Investment Programming Mechanism and Project Selection 166 D. Public Investment1992 and Beyond 167 E. Recommendations 175 Chapter 13. The Central Bank And Quasi-Expenditure 179 A. The Quasi-Fiscal Deficit 179 B. Sources of Financing of the Public Sector 181 C. Strengthening Monetary Authority 187 D.

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Argentina: from insolvency to growth by World Bank

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