Boosting affordable and longer-term financing for Governments
Public investment for a brighter future is increasingly difficult due to large financing needs, surging borrowing costs and shorter loan maturities. Many developing countries are forced to choose between servicing debt or investing in education, health and social protection for their people.
The Survey for 2024 examines how countries in the region, donors, multilateral development banks and credit rating agencies can boost the availability of affordable and long-term financing for Governments.
Chapter 1 | Macroeconomic prospects, challenges and policies
Despite steady economic performance, people in Asia and the Pacific are experiencing weaker purchasing power, subdued job opportunities and deeper income and gender inequalities. The near-term economic prospects are subject to several downside risks, such as uncertainty relating to monetary policy stance, and escalation of geopolitical tensions and trade fragmentation within the Asia-Pacific region and beyond.
Chapter 1
Chapter 2 | Affordable and long-term financing for Governments: domestic taxation and savings
The analysis in Chapter 2 reveals that sustained macroeconomic and inflation stability, strong fiscal positions and financial market liquidity are key to keeping Governments’ borrowing rates at low levels. Further, the chapter discusses a host of policy and regulatory measures to improve public-revenue collection and to unleash sizeable domestic savings in the region.
Chapter 2
Chapter 3 | Affordable and long-term financing for Governments: multilateral development cooperation
Chapter 3 discusses new perspectives that can shift the long-standing operations of international development partners to foster affordable and long-term development financing. Support from the international community is urgently needed as national policy actions take shape. The chapter focuses on the roles of donors, multilateral development banks and credit rating agencies.
Chapter 3
Chapter 4 | Fiscal implications of global megatrends
While working to secure more affordable, long-term financing, fiscal policymakers should also keep in view global megatrends. How Governments seize the opportunities and manage the risks brought about by demographic shifts, climate change and technological advancements will determine whether they provide economies and the people with net gains or losses.
Chapter 4
EXPERT GROUP MEETING
Expert Group Meeting on Boosting affordable and longer-term financing for Governments, 31 October - 2 November 2023