Mongolia

Mongolia

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2001-10-16

Total Pages: 101

ISBN-13: 1451826796

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Mongolia has made great strides in fostering a market economy and promoting macroeconomic stability under the Poverty Reduction and Growth Facility (PRGF) Arrangement. Executive Directors welcomed this step, and stressed the need to improve economic governance, fiscal and monetary policies, and accelerate structural reforms. They appreciated the fiscal transparency and accountability, realistic budgeting, better treasury management, and the privatization and energy sector reform. They agreed that the government's reform program merits the support of the international community, and approved the request for a three-year arrangement under the PRGF.


Managing Urban Expansion in Mongolia

Managing Urban Expansion in Mongolia

Author: Takuya Kamata

Publisher: World Bank Publications

Published: 2010-05-03

Total Pages: 134

ISBN-13: 0821383159

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The sustainable development of ger areas in Ulaanbaatar, the capital of Mongolia, is one of the critical development issues facing the country. The ger areas host 60% of the population of Ulaanbaatar, and they have expanded 35 times larger than the original center of the city. Provision of basic services (e.g. heating and water supply) is very limited or non-existent in ger areas. The lack of basic public services resulted in air and water pollution as well as serious health risks to residents. The government tries to control expansion of the city, particularly ger areas, but its policy practices have been inconsistent. These inconsistent actions are, in part, a result of limited awareness and understanding by the general public, as well as by the policy makers, of the public costs of their actions. There is high susceptibility to ad-hoc behaviors that place premiums on short-term private gains over long-term value-creation in public goods. Many supporting mechanisms, including land valuation and taxation, have not yet been developed to create incentives for long-term value creation. Mongolia: Enhancing Policies and Practices for Ger Area Development in Ulaanbaatar aims at helping policy makers and citizens of Ulaanbaatar to improve their understanding of the consequences of their choices of policies and practices. Specifically, it intends to provide clear cost and benefit implications of three different development paths (central, mid-tier, and fringe gers) for seven sectors (land and housing, water supply, roads and public transport, heating, electricity, solid waste, and social services). The report is a best practice in urban planning exercise which provides useful information that can apply for other big cities.


Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance

Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance

Author: El Bachir Boukherouaa

Publisher: International Monetary Fund

Published: 2021-10-22

Total Pages: 35

ISBN-13: 1589063953

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This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.


World Development Report 1994

World Development Report 1994

Author:

Publisher: World Bank Publications

Published: 1994

Total Pages: 268

ISBN-13: 9780195209921

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World Development Report 1994 examines the link between infrastructure and development and explores ways in which developing countries can improve both the provision and the quality of infrastructure services. In recent decades, developing countries have made substantial investments in infrastructure, achieving dramatic gains for households and producers by expanding their access to services such as safe water, sanitation, electric power, telecommunications, and transport. Even more infrastructure investment and expansion are needed in order to extend the reach of services - especially to people living in rural areas and to the poor. But as this report shows, the quantity of investment cannot be the exclusive focus of policy. Improving the quality of infrastructure service also is vital. Both quantity and quality improvements are essential to modernize and diversify production, help countries compete internationally, and accommodate rapid urbanization. The report identifies the basic cause of poor past performance as inadequate institutional incentives for improving the provision of infrastructure. To promote more efficient and responsive service delivery, incentives need to be changed through commercial management, competition, and user involvement. Several trends are helping to improve the performance of infrastructure. First, innovation in technology and in the regulatory management of markets makes more diversity possible in the supply of services. Second, an evaluation of the role of government is leading to a shift from direct government provision of services to increasing private sector provision and recent experience in many countries with public-private partnerships is highlighting new ways to increase efficiency and expand services. Third, increased concern about social and environmental sustainability has heightened public interest in infrastructure design and performance.