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Bangladesh Development Update, October 2015Progress on reducing extreme poverty and
 boosting shared prosperity need to be further enhanced in
 the near-term by sustaining Gross Domestic Product (GDP) and
 remittances growth, creating jobs, containing inflation, and
 making progress on improving the quality of public service
 delivery. Private investments need to increase significantly
 to achieve the government’s 7 percent growth target for
 FY16. Moving forward in the immediate future, stronger
 attention is needed to (i) achieve safety and labor rights
 compliance in the garment industry, (ii) complete the
 critical ongoing road, electricity and gas development
 projects, (iii) implement the Public Private Partnership
 (PPP) law, (iv) improve the efficiency and solvency of the
 banking sector through better banking supervision and
 oversight by the Bangladesh Bank and corporate governance
 reforms in public banks, and (v) provide access to serviced
 land to domestic and foreign investors through the Special
 Economic Zones (SEZs) initiative.
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Rwanda Economic Update, June 2015Growth recovery in 2014 is certainly
 good news. This time last year, we estimated the 2014 growth
 rate at 5.7 percent. Against all odds, the economy grew by 7
 percent. However,growth outlook is not entirely bright.
 While the oil price decline has brought a positive impact
 oninflation and trade, recent economic indicators show some
 weaknesses. Also, global risks (e.g.,an increase in US
 interest rate, slowdown of Chinese and Euro economies, and
 an appreciationof the US dollar) are emerging. In the medium
 to long-term, Rwanda’s economic resiliencewill not be
 achieved without keeping high investment rates. However, the
 current investmentmodel (high public investment funded by
 aid) is not likely to be sustainable; given
 capacityconstraints to maintain high public investment and
 possible decline in aid relative to GDP inthe medium-term.
 Finding alternative sources of development financing is a
 key determinantof future growth. Development of the
 financial sector is critical to mobilize both domestic
 andforeign saving for financing development. This is the
 message of the Eighth Edition of theRwanda Economic Update (REU).
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Crisis Preparedness and Debt Management in Low Income Countries : 
 Strengthening Institutions and Policy FrameworksThe magnitude of the public liabilities
 incurred as a result of the unprecedented government action
 in the wake of the financial crisis of 2008-2009, and the
 consequences of exiting from the projected high debt
 scenario, have become a major source of concern about a
 future sovereign debt crisis. As Low-Income Countries (LICs)
 face unique challenges in debt management (DeM) due to their
 more limited financing sources and higher capacity
 constraints, their ability to successfully manage their
 public debt burdens effectively through a crisis of this
 magnitude is far from assured. Therefore, the challenges of
 the last two years will require a re-evaluation of existing
 DeM strategies in LICs, focusing on the identification of
 institutional weaknesses and the assessment and mitigation
 of potential risk. It is in this context that this paper
 examines the application of two global public goods in LICs:
 the Debt Management Performance Assessment (DeMPA) and the
 Medium-Term Debt Management Strategy (MTDS) tools. The
 results of the application of these tools from 2007-2009
 provide valuable information to policymakers and other
 stakeholders on the development of sound public DeM
 practices and analytical capacity, with the goal of
 strengthening the public balance sheet and reducing
 vulnerability to financial crises.