scholarly journals Problems with Long-term Financial Sustainability of Export Credit Agencies

2020 ◽  
Author(s):  
Mikuláš Pýcha
Keyword(s):  
Financial Sustainability ◽  
Export Credit ◽  
Export Credit Agencies

Financial Sustainability and Infrastructure Finance

2018 ◽  
Author(s):  
Felipe Carvalho de Rezende
Keyword(s):  
Financial Institutions ◽  
Financial Stability ◽  
Global Financial Crisis ◽  
Financial Sustainability ◽  
Infrastructure Finance ◽  
Strategic Role ◽  
Development Banks ◽  
The Global Financial Crisis ◽  
Capital Development

Among the lessons that can be drawn from the global financial crisis is that private financial institutions have failed to promote the capital development of the affected economies, and to dampen financial fragility. This chapter analyses the macroeconomic role that development banks can play in this context, not only providing long-term funding necessary to promote economic development, but also fostering financial stability. The chapter discusses, in particular, the need for public financial institutions to provide support for infrastructure and sustainable development projects. It concludes that development banks play a strategic role by funding infrastructure projects in particular, and outlines the lessons for enhancing their role as catalysts for mitigating risks associated with such projects.

Healthcare in Cuba: Sustainability Challenges in an Ageing System

2021 ◽  
Vol 53 (1) ◽  
pp. 133-159
Author(s):  
Carmelo Mesa-Lago ◽  
Sergio Díaz-Briquets
Keyword(s):  
Healthcare System ◽  
Health Indicators ◽  
Population Ageing ◽  
Financial Sustainability ◽  
Physical Infrastructure ◽  
Sustainability Challenges

AbstractThis article assumes a balanced position between two contrasting views regarding the accessibility, quality, efficiency and financial sustainability of the Cuban healthcare system. It evaluates those issues in the 2006–20 period by identifying strengths and weaknesses based on a comprehensive statistical compilation of health indicators, physical infrastructure trends, availability of physicians and other elements to assess the system's long-term financial sustainability. Finally, it examines the likely consequences of population ageing on healthcare, including potential policies.

scholarly journals Towards Net Zero export credit: current approaches and next steps

2021 ◽  
Author(s):  
Thomas Hale ◽  
Andreas Klasen ◽  
Norman Ebner ◽  
Bianca Krämer ◽  
Anastasia Kantzelis
Keyword(s):  
Business Models ◽  
Global Climate ◽  
Export Credit ◽  
Public And Private ◽  
Climate Targets ◽  
Net Zero ◽  
The Many ◽  
The One ◽  
Investment Portfolios ◽  
Export Credit Agencies

As the world economy rapidly decarbonises to meet global climate goals, the export credit sector must keep pace. Countries representing over two-thirds of global GDP have now set net zero targets, as have hundreds of private financial institutions. Public and private initiatives are now working to develop new standards and methodologies for shifting investment portfolios to decarbonisation pathways based on science. However, export credit agencies (ECAs) are only at the beginning stages of this seismic transformation. On the one hand, the net zero transition creates risks to existing business models and clients for the many ECAs, while on the other, it creates a significant opportunity for ECAs to refocus their support to help countries and trade partners meet their climate targets. ECAs can best take advantage of this transition, and minimise its risks, by setting net zero targets and adopting credible plans to decarbonise their portfolios. Collaboration across the sector can be a powerful tool for advancing this goal.

OPTIONS FOR ASSESSING THE SUITABILITY OF URBAN ENVIRONMENTAL ACUPUNCTURE

2021 ◽  
Author(s):  
Barbara Vojvodíková ◽  
Jiří Kupka ◽  
Adéla Brázdová ◽  
Radim Fojtík ◽  
Iva Tichá
Keyword(s):  
Climate Change ◽  
Assessment Tool ◽  
Mitigation Measures ◽  
Small Scale ◽  
Financial Sustainability ◽  
Technical Solution ◽  
The City

To increase their resilience to climate change, cities are looking to apply elements of urban environmental acupuncture. The essence of such measures is many smaller sites that is functioning as mitigation measures. Many of these small places then create a large overall effect. The advantage of these small-scale measures is that they can be in densely populated areas The assessment tool described in this paper is designed for city representatives and is an aid to assess the suitability of applying a particular measure based on the parameters described. The evaluation itself then helps to decide whether the solution is suitable for a particular site or whether any of the parameters need to be adjusted to make it suitable, or whether it would be appropriate to change the proposed solution. The intention of the evaluation is not to assess the technical solution but relies primarily on the location, long-term (especially financial) sustainability and acceptance by the citizens of the city. The paper presents an example of the application of the evaluation to four sites in city Liptovský Mikuláš, describing the results and identifying parameters that can be improved to ensure the urban environmental acupuncture is accepted by citizens and thus future-proofed.

8 Official Funding Sources: Export Credit Agencies

2019 ◽  
Author(s):  
Borisoff Alexander ◽  
Pendleton Andrew ◽  
Blundell Lewis
Keyword(s):  
Natural Resources ◽  
Financial Institutions ◽  
Government Policy ◽  
Pivotal Role ◽  
Export Credit ◽  
Infrastructure Projects ◽  
Market Participants ◽  
Funding Sources ◽  
Border Trade ◽  
Export Credit Agencies

This chapter focuses on export credit agencies (ECAs). ECAs are government-backed suppliers of financing and other credit support. As enablers of government policy and ‘soft diplomacy’, they possess a variety of tools that are not available to commercial financial institutions alone. Among the most important of these tools is the ability to offer financial terms that are more competitive than those available in the market. ECAs are able to provide financial liquidity in challenging times, making them attractive market participants in all types of credit environments. ECAs are an essential source of capital for the financing of cross-border trade, including for the financing of major infrastructure projects worldwide. In the coming years ECAs will likely continue to play a pivotal role in the financing of global energy, natural resources and infrastructure projects.

The Long-Term Financial Sustainability of the Civil Service Pension Scheme in Malaysia

2019 ◽  
Vol 18 (1) ◽  
pp. 155-178
Author(s):  
Sheila Rose Darmaraj ◽  
Suresh Narayanan
Keyword(s):  
Civil Service ◽  
Pension Scheme ◽  
Retirement Age ◽  
Financial Sustainability ◽  
Defined Benefit ◽  
Contribution Rate ◽  
Replacement Rate ◽  
Deficit Model ◽  
Pension Payments

The civil service pension scheme (CSPS) in Malaysia is a defined benefit (DB), non-contributory system directly funded from the budget. An aging population, rising life expectancy, and ballooning pension payments underscore the need for reform. An annual pension deficit model was used to estimate the pension deficit over a period of 75 years under eight scenarios that compare the current scheme with changes in the pension deficit when three policy variables—retirement age, contribution rate, and replacement rate—are manipulated. We found the current scheme will not be financially sustainable. By increasing the retirement age, introducing employee contributions, and reducing the replacement rate, it is possible to delay the emergence of deficits and lengthen the period of sustainability of the scheme. However, a radical makeover is necessary to be fully sustainable and this might not be politically feasible.

A politico-economic perspective on financial sustainability

2014 ◽  
Vol 26 (1) ◽  
pp. 140-164 ◽  
Author(s):  
Tilman Slembeck ◽  
Armin Jans ◽  
Thomas Leu
Keyword(s):  
Financial Stability ◽  
Time Inconsistency ◽  
Financial Sustainability ◽  
Problem Of Time ◽  
Public Finances ◽  
Long Run ◽  
Maastricht Criteria ◽  
The Cost ◽  
Large Primary

Financial sustainability requires governments to run sufficiently large primary surpluses going forward to cover the cost of servicing its debt budgets to balance in the long run. In democracies, politicians who strive for reelection often tend to systematically violate this tenet. This paper discusses two types of “anchors” that may be used to cope with this problem by limiting the room for new and excessive public debt. First, we analyze national constitutional safeguards on the basis of the “debt brake” in Switzerland and Germany. Second, we discuss international institutions to maintain financial discipline, referring to the Maastricht-criteria. These anchors are designed to allow policymakers to commit to policies that provide long term financial stability and sustainability of public finances. However, as the recent crises have shown, the problem of time inconsistency in policy making remains, especially when anchors are weak. Therefore, the paper discusses the circumstances under which institutional anchors may help to restrict politician behavior to promote sustainability of public finances. We conclude by indentifying three conditions required for the proper functioning of collective anchors in the context of public finances.

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