Somalia Joint Needs Assessment : Macroeconomic Policy Framework and Data Development Cluster Report
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World Bank, Washington, DC
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Since 1991, the Somali economy has suffered from droughts, the absence of government, and local conflicts. Unlike the 1970s and 1980s when most of the output of the small industrial sector and many services were provided by the public sector, there has been significant (but unmeasured) private investment in commercial ventures, including in trade and marketing; money transfer services; transport; communications; airlines; telecommunications; other services including construction and hotels; education and health; and fishery equipment. In regard to the macroeconomic policy framework, the short to medium-term objectives are to: establish and maintain macroeconomic stability; develop a stable currency and a sound and growing public revenues base; establish core civil service institutions along with accountable budgetary processes, public finance management, and revenue systems; and reestablish financial services. In addition, it is important to establish data systems to secure the data needed to monitor social and economic developments and to inform sound policy and institutional development.
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ACCOUNTING, ADMINISTRATIVE AUTONOMY, ARREARS, ARREARS ACCUMULATION, ASSIGNMENT OF TAXES, BALANCE OF PAYMENTS, BANK CREDIT, BANK FINANCING, BANKING SECTOR, BANKING SERVICES, BANKING SYSTEM, BENEFICIARY, BID, BROAD MONEY, BUDGET DEFICITS, BUDGETARY PROCESSES, BUDGETARY SUPPORT, BUDGETING, CAPACITY BUILDING, CENTRAL BANK, CIVIL SERVICE, CIVIL WAR, COMMERCIAL BANK, COMMERCIAL BANKING, COMMERCIAL BANKS, COMMODITIES, COMMODITY, CONSUMER GOODS, CONSUMER PRICE INDEX, CORPORATE GOVERNANCE, COST OF COLLECTION, CREATION OF INSTITUTIONS, CREDIBILITY, CREDIT EXPANSION, CREDIT OUTSTANDING, CREDITOR, CREDITORS, CURRENCY, CURRENCY MARKET, CURRENT ACCOUNT BALANCE, CURRENT ACCOUNT DEFICIT, DEBT MANAGEMENT, DEBT OBLIGATIONS, DEBT OUTSTANDING, DEBT POLICY, DECENTRALIZATION, DEFICIT FINANCING, DEPOSIT, DEPOSITORS, DEPOSITS, DEVELOPING COUNTRIES, DEVELOPMENT BANK, DEVELOPMENT FINANCE, DISCOUNT RATES, DOMESTIC CURRENCY, DOMESTIC ECONOMY, ECONOMIC DEVELOPMENT, ECONOMIC DEVELOPMENTS, ECONOMIC PERFORMANCE, ECONOMIC REFORM, ECONOMIC TRANSACTIONS, ELMI, ENABLING ENVIRONMENT, ENVIRONMENTAL SUSTAINABILITY, EQUIPMENT, EXCHANGE RATE, EXCHANGE RATES, EXCISE TAXES, EXPENDITURES, EXPORTER, EXPORTERS, EXTERNAL DEBT, FACE VALUE, FACTORS OF PRODUCTION, FEDERAL BUDGET, FINANCIAL INFORMATION, FINANCIAL INSTITUTIONS, FINANCIAL MANAGEMENT, FINANCIAL MANAGEMENT CAPACITY, FINANCIAL SECTOR, FINANCIAL SERVICES, FINANCIAL SYSTEM, FINANCIAL TRANSACTIONS, FISCAL CAPACITY, FISCAL DEFICIT, FISCAL DISCIPLINE, FISCAL POLICY, FOREIGN BANKS, FOREIGN CURRENCY, FOREIGN EXCHANGE, FOREIGN EXCHANGE MARKET, FOREIGN GOVERNMENT, FOREIGN INVESTMENT, GLOBAL DEVELOPMENT FINANCE, GOVERNMENT DEBT, GOVERNMENT EXPENDITURE, GOVERNMENT REGULATION, GOVERNMENT REVENUE, GOVERNMENT SECURITIES, GROSS DOMESTIC PRODUCT, GROSS NATIONAL PRODUCT, HOUSEHOLD INCOME, HUMAN CAPITAL, HUMAN DEVELOPMENT, INCOME INEQUALITY, INCOME TAX, INCOMES, INFLATION, INFORMATION SYSTEMS, INSTITUTION BUILDING, INSTITUTIONAL DEVELOPMENT, INSURANCE, INTEREST ARREARS, INTEREST RATES, INTERNATIONAL BORROWING, INTERNATIONAL DEVELOPMENT, INTERNATIONAL MARKETS, INTERNATIONAL RESERVES, INTERNATIONAL TRADE, INVESTING, INVESTMENT CLIMATE, INVESTMENT FUND, JOB CREATION, JOINT VENTURE, JOINT VENTURE PARTNERS, JURISDICTION, LABOR MARKETS, LAW ENFORCEMENT, LEGAL FRAMEWORK, LEGAL FRAMEWORKS, LEGAL REFORM, LEVY, LIFE EXPECTANCY, LOCAL CURRENCY, LOCAL GOVERNMENT, LOCAL GOVERNMENTS, LOCAL MARKETS, MACROECONOMIC POLICIES, MACROECONOMIC POLICY, MACROECONOMIC STABILITY, MARKET CONDITIONS, MARKET PRICE, MARKET PRICES, MICROCREDIT, MICROFINANCE, MICROFINANCE INSTITUTIONS, MISMANAGEMENT, MOBILE PHONES, MONETARY AUTHORITIES, MONETARY AUTHORITY, MONETARY FINANCING, MONETARY FUND, MONETARY POLICY, MONEY CREATION, MONEY SUPPLY, MULTILATERAL DEVELOPMENT, MULTILATERAL DEVELOPMENT BANKS, NATIONAL CURRENCY, NEW MARKETS, OIL PRICES, OUTPUT, OUTSTANDING DEBT, OVERDRAFT FACILITY, PAYMENTS SYSTEM, PERSONAL COMPUTERS, PERSONAL INCOME, POLITICAL CONSIDERATIONS, POWER PARITY, PRESENT VALUE, PRICE STABILITY, PRICE VOLATILITY, PRIVATE INVESTMENT, PRIVATE INVESTMENTS, PRIVATE SAVINGS, PRIVATE SECTOR DEVELOPMENT, PRIVATE SECTOR GROWTH, PROPERTY RIGHTS, PRUDENTIAL REGULATIONS, PUBLIC DEBT, PUBLIC ENTERPRISES, PUBLIC FINANCE, PUBLIC INVESTMENT, PUBLIC SERVICES, PURCHASING POWER, REAL SECTOR, REFORM PROGRAMS, REMITTANCE, REMITTANCES, RESERVE, RESERVE REQUIREMENTS, RESERVES, RETURNS, RULE OF LAW, RURAL INFRASTRUCTURE, SAVINGS, SOCIAL INVESTMENT, SOCIAL SERVICES, STABLE LOCAL CURRENCY, SUSTAINABLE DEVELOPMENT, TAX, TAX ADMINISTRATION, TAX EXEMPTIONS, TAX POLICY, TAX RATES, TAX SYSTEM, TAX SYSTEMS, TELECOMMUNICATIONS, TEMPORARY FINANCING, TOTAL DEBT, TRACK RECORD, TRADE FLOWS, TRADE TAXES, TRANCHE, TRANSPARENCY, TRANSPORT, TRUST FUND, TURNOVER, WORLD DEVELOPMENT INDICATORS