This Joint Staff Assessment assesses the Economic Growth Support and Poverty Reduction Strategy (EGSPRS), which is the first full poverty reduction strategy paper (PRSP) prepared by the government of Mongolia. The EGSPRS builds on the strategy articulated in the interim report (I-PRSP) presented to the Boards of the International Development Association (IDA) and the International Monetary Fund (IMF). It provides an adequate framework for implementing the government's development agenda and highlights several weaknesses and challenges associated with its successful implementation.
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.
This Joint Staff Advisory Note reviews the Poverty Reduction Strategy Paper Progress Report for Mongolia. Recent economic developments have been broadly favorable. Real GDP growth exceeded 10.5 percent in 2004 and is expected to remain robust, at about 5.5 percent in 2005, with a recovery in livestock production and strong activity in the mining sector serving as the main drivers of growth. Fiscal performance has strengthened markedly, with the overall deficit narrowing to about 2 percent of GDP in 2004—the lowest level since the start of the transition in the early 1990s.
"Formal pension systems are an important means of reducing poverty among the aged. In recent years, however, pension reform has become a pressing matter, as demographic aging, poor administration, early retirement, and unaffordable benefits have strained pension balances and overall public finances. Pension systems have become a source of macroeconomic instability, a constraint to economic growth, and an ineffective and/or inequitable provider of retirement income."
Through invasions, migrations, trade and cultural exchange, developments in Central Eurasia have, for millennia, impacted upon the history of both Europe and Asia. For the last three hundred years, Central Eurasia has been the stage upon which great empires clashed. Following the dissolution of the Soviet Union, Central Eurasia has once again emerged as a region of geo-political concern with various new international actors involved: the USA, international monetary organizations, strategic alliances, TNCs, NGOs, regional blocks, as well as criminal groups and ethno-religious movements. The new ‘centrality’ of Central Eurasia brings new security threats to the region’s population, to Europe and to the rest of the world. Repressive political regimes and marginalization of whole groups of the population inflame conflicts that spill across national borders. Migration to Europe, both legal and illegal, the illicit production and trade of drugs are the direct outcome of social-economic destabilization in Central Eurasia. Territorial disputes, border conflicts and competition for resources among the Central Eurasian ethnicities have become the unfortunate reality. Post-Soviet Central Eurasia, as a direct neighbor to the turbulent Middle East, is a potential playground for extremist movements: radical Islamic groups and terrorist organizations. The contributors to this book, coming from various theoretical schools and presenting innovative interdisciplinary approaches, provide their views on the socio-political challenges confronting the nine Central Eurasian states - Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, Turkmenistan, Mongolia, Armenia, Azerbaijan and Georgia. The book presents scientific discussions on the historical development of Central Eurasia and its socio-cultural legacies; Soviet and contemporary state organization, social transformation and communal structures; the current economic conditions as a precursor to social stability and development; and geo-political arrangements and political changes over the last two decades.
Social Protection & Labor at the World Bank, 2000-2008 presents a progress review of the sector strategy by the World Bank, published in early 2001. The strategy proposed a new conceptual frameworkOCoSocial Risk ManagementOCoto review and reform existing interventions and propose new ones that better assist vulnerable people in addressing the many risks to which they are exposed."
