Poverty Reduction Support Credits
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Washington, DC: World Bank
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Vietnam, a one-party socialist state
dominated by the Communist Party of Vietnam, has in recent
years moved towards a pragmatic growth-oriented approach to
economic policy. Early reform measures in 1986 with the doi
moi, or new way, introduced a series of market-oriented
reforms in industry and trade, as well as agriculture. The
collapse of the Soviet Union in 1989 hastened the pace of
reform, as the authorities intensified monetary, banking,
and structural reforms and set the stage for substantial
trade and investment liberalization, and as Vietnam's
arrears with the International Monetary Fund (IMF) were
settled in 1993. Key lessons that emerge from the Vietnam
study include: a) the Poverty Reduction Support Credit
(PRSC) process is strengthened through rigorous analytic
underpinnings (for example, Vietnam development reports,
public expenditure reviews, and other analytical and
advisory services) that provide a shared vision of the
development agenda and a menu of policy actions linked to
the thematic pillars of the poverty reduction strategy; b)
even in a context of high government commitment, fostering a
connection to an external anchor (such as world trade
organization accession) can help maintain momentum in the
PRSC process and reform generally; c) PRSCs can function as
an effective complement to, and catalyst for, sector
operations including the development of sector-wide
approaches and sector budget support; and d) with large
numbers of international and government participants, it
becomes increasingly important for both Government and the
Bank that responsibilities for coordinating inputs and
consultation and maintaining a policy overview be closely
linked, defined, and adequately funded.
Palabras clave
ACCESS TO INFORMATION, ACCOUNTABILITY, ADB, ADJUSTMENT LENDING, AGRICULTURAL DEVELOPMENT, AID EFFECTIVENESS, ANNUAL CYCLE, ARREARS, AUDITING, AUDITS, BANK POLICY, BANKING REFORM, BANKING SECTOR, BANKING SUPERVISION, BETTER ACCESS TO INFORMATION, BLOCK GRANTS, BORROWER, BUDGET ALLOCATIONS, BUDGET CONSTRAINT, BUDGET CYCLE, BUDGET DEFICITS, BUDGET LAW, BUDGET MANAGEMENT, BUDGET OUTCOMES, BUDGET PLAN, BUDGET PREPARATION, BUDGET PROCESS, BUDGET RESOURCES, BUDGETARY REFORMS, BUDGETING, CAPACITY BUILDING, CAPITAL EXPENDITURES, CAPITAL FORMATION, CAPITAL INVESTMENT, CENTRAL GOVERNMENT, CHART OF ACCOUNTS, CIVIL SOCIETY, CIVIL SOCIETY ORGANIZATION, COLLAPSE, COMMERCIAL BANK, COMMERCIAL BANKS, CONDITIONALITY, CONFIDENCE, CONTINGENT LIABILITIES, CORRUPTION, COUNTRY PROCUREMENT, COUNTRY PROCUREMENT ASSESSMENT, DATA AVAILABILITY, DATA REQUIREMENTS, DEBT, DEBT REDUCTION, DEBT SUSTAINABILITY, DEGREE OF VARIATION, DELEGATION OF AUTHORITY, DEVELOPMENT BANK, DIAGNOSTIC WORK, DISBURSEMENTS, DOMESTIC CAPITAL, DONOR COORDINATION, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC INSTABILITY, ECONOMIC POLICY, EDUCATION POLICY, EMPLOYMENT, EXCHANGE RATE, EXPENDITURE PLANNING, EXPENDITURES, EXPORT GROWTH, FIDUCIARY ASSESSMENT, FINANCE MANAGEMENT, FINANCE MINISTRY, FINANCIAL ACCOUNTABILITY, FINANCIAL CRISES, FINANCIAL CRISIS, FINANCIAL MANAGEMENT COMPONENTS, FINANCIAL SECTOR, FISCAL IMPLICATIONS, FISCAL POLICY, FOREIGN DIRECT INVESTMENT, GENERAL BUDGET SUPPORT, GOVERNMENT OFFICIALS, GOVERNMENT POLICY, GOVERNMENT REFORM, GOVERNMENT REVENUE, GROSS DOMESTIC PRODUCT, GROSS NATIONAL PRODUCT, HEALTH CARE, HEALTH MINISTRY, HEALTH OUTCOMES, HEALTH POLICY, HOUSEHOLD LIVING STANDARDS, HUMAN DEVELOPMENT, IMPORT DUTIES, IMPROVING BUDGET EXECUTION, INCOME, INEQUALITY, INFLATION, INFLATIONARY PRESSURES, INFORMATION SYSTEM, INFRASTRUCTURE SERVICES, INITIATIVE, INSTITUTIONAL DEVELOPMENT, INSTRUMENT, INTEREST RATE, INTERNATIONAL BANK, INTERNATIONAL DEVELOPMENT, INTERNATIONAL RESERVES, INTERNATIONAL SUPPORT, INVESTMENT CLIMATE, INVESTMENT CORPORATION, LEADERSHIP, LEGAL FRAMEWORK, LEGAL REFORM, LOAN, LOAN CLASSIFICATION, LOCAL GOVERNMENT, MACROECONOMIC MANAGEMENT, MACROECONOMIC POLICY, MACROECONOMIC STABILITY, MANAGEMENT INFORMATION SYSTEMS, MANDATES, MARKET ECONOMY, MEDIUM-TERM EXPENDITURE, MEDIUM-TERM EXPENDITURE FRAMEWORK, MEDIUM-TERM GOALS, MEDIUM-TERM PERSPECTIVE, MINISTER, MINISTERIAL COORDINATION, MINISTRY OF FINANCE, MONETARY FUND, MORAL HAZARD, MULTIYEAR PERIOD, NATIONAL OWNERSHIP, NATIONAL POVERTY, NATURAL DISASTERS, NATURAL RESOURCES, NPL, OUTCOME INDICATORS, OUTSIDE OBSERVERS, PERFORMANCE ASSESSMENT, POLICY DECISIONS, POLICY FORMULATION, POLITICAL CONSTRAINTS, POOR, POVERTY ANALYSIS, POVERTY REDUCING, POVERTY REDUCTION, POVERTY REDUCTION STRATEGIES, POVERTY REDUCTION STRATEGY, POVERTY REDUCTION STRATEGY PAPER, POVERTY REDUCTION SUPPORT, PRIVATE INVESTMENT, PRIVATE SECTOR, PRIVATE SECTOR INVESTMENT, PROGRAMS, PROVINCIAL LEVELS, PUBLIC ADMINISTRATION, PUBLIC EXPENDITURE, PUBLIC EXPENDITURE REVIEW, PUBLIC FINANCE, PUBLIC FINANCES, PUBLIC FINANCIAL MANAGEMENT, PUBLIC FINANCIAL MANAGEMENT SYSTEMS, PUBLIC INVESTMENT, PUBLIC INVESTMENT PROGRAM, PUBLIC SECTOR, PUBLIC SECTOR MANAGEMENT, RECURRENT EXPENDITURE, RECURRENT EXPENDITURES, REFORM ACTIONS, REFORM AGENDA, REFORM PROCESS, REFORM PROGRAM, REFORM PROJECT, REGULATORY FRAMEWORK, RESOURCE FLOWS, REVENUE FORECASTING, REVENUE PROJECTIONS, RURAL, RURAL DEVELOPMENT, RURAL WATER, RURAL WATER SUPPLY, SANITATION, SECTOR BUDGET, SECTOR POLICY, SECTOR PROGRAMS, SOCIAL INDICATORS, SOLICITATION, STATE BANK, STATE BUDGET, STATE TREASURY, STRUCTURAL ADJUSTMENT, STRUCTURAL REFORMS, SUSTAINABILITY ANALYSIS, SWAP, TARGETING, TAX, TAX ADMINISTRATION, TECHNICAL ASSISTANCE, TRANCHE, TRANSPARENCY, TREASURY SYSTEM, TRUST FUND, TRUST FUNDS