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Unveiling the Truth: How Sticking to Fiscal Rules Boosts Investment in Latin America

Inter-American Development Bank

This change in perspective is especially crucial now, as many LAC countries are undergoing fiscal consolidation to balance their budgets and reduce debt levels while facing increasing pressure from their populations to tackle key development challenges. Calibrate escape clauses to accommodate economic shocks.

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UN report: E-government makes global strides, but digital divide persists

FedScoop

Overall, the UN reports the proportion of the population lagging behind in digital government development has dropped from 45% in 2022 to 22.4% Saudia Arabia, the United Arab Emirates and Bahrain also placed high on the list, reflecting significant gains compared to the UN’s last study in 2022.

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Smart Public Procurement for Better Public Spending in Latin America and the Caribbean

Inter-American Development Bank

This would result in large monetary and transactional savings for governments because, for example, approximately 25% of public contracts in the region require time extensions averaging nearly double their original terms, while around 13% experience budget increases of up to 50%. of GDP, according to FISLAC calculations. 4] Bandiera, O.,

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In Kazakhstan, opening up procurement boosts public oversight and prevents millions in wasteful spending

Open Contracting Partnership

million (~US$24,000) being returned to the budget. million (~US$24,000) were returned to the budget. In late 2022, this question led them to look at value added tax (VAT), the second highest source of revenue for Kazakhstan’s budget.

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Empowering auditors: Indonesia uses data-driven oversight to clean up its corruption-prone procurement sector

Open Contracting Partnership

Between 2021 and 2022, the rejection rate of complaints submitted by citizens has halved from 78% in 2021 to 39% in 2022, cases resolved by auditing authorities have increased from 53% to 63%, and response times are faster, taking 262 days down from 338 days in 2021. Semarang City made a similar agreement in 2023.

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The Development of Treasury Bond Market Programs in Fragile Countries: The Case of Haiti

Inter-American Development Bank

Treasury bond markets play a pivotal role in the economic development and fiscal management of fragile countries, as they allow governments to secure funds from both the public and institutional investors, reducing the pressure on governments to print out money to finance their budgets. percent in 2022. of GDP from 0.3%

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Leveraging AI to Transform Macroeconomic and Fiscal Policymaking in Latin America and the Caribbean

Inter-American Development Bank

The technology’s potential to enhance the precision of economic forecasts, optimize budget allocations, and streamline tax administration is immense. Total Venture Capital Investment in Artificial Intelligence from 2012 to 2022 in LAC5 (USD billions) Source: Chart elaborated by the authors using data from OECD AI Policy Observatory.