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Corporate Governance Country Assessment : MalawiThis ROSC assessment of corporate
 governance in Malawi benchmarks law and practice against the
 Organization for Economic Cooperation and Development (OECD)
 Principles of Corporate Governance and covers public
 interest entities (including public limited companies,
 financial institutions, and parastatal companies) with
 special focus on the companies listed on the MSE. This
 report should be read in conjunction with the Accounting and
 Auditing ROSC Malawi, which reviews issues related to
 accounting, auditing, and financial reporting in more
 detail. Growth in 2006 has been estimated at 6.5 percent.
 Inflation and bank lending rates have declined significantly
 over the past few years. Malawi qualified for debt relief
 under the World Bank s Heavily Indebted Poor Countries
 (HIPC) initiative in 2006. The business environment has
 improved, and the private sector is optimistic about the
 future; the Malawi Business Survey 2006 conducted by the
 Malawi Confederation of the Chambers of Commerce and
 Industry (MCCI) rated the business environment good to very
 good with better expectations in the next 12 months. The
 Malawi Growth and Development Strategy (MGDS) 2006-2011 sets
 a future growth target of more than 6 percent annually for
 the five-year period, which will increase per capita income
 to US$450 by the end of 2011. For this purpose, Malawi is
 seeking to increase domestic and foreign investment.
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Corporate Governance Country Assessment : Russian FederationThis report assesses Russia's corporate governance policy framework. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Russia. Corporate governance has been a major policy issue in Russia since the beginning of its transition to a market economy. The privatization process of the early 1990s was put in place before most elements of the corporate governance and investor protection framework, and there were many widely publicized abuses, leading to very low asset prices. Most observers agree that the corporate governance environment has improved in recent years as the government has enhanced the legal and policy framework, and key institutions have grown in sophistication and maturity. Many major Russian companies have also voluntarily improved their financial and ownership transparency. A number of reform initiatives are currently underway. The report (and this summary) is organized into four sections: i) the commitment of the public and private sectors to reform; ii) shareholder rights; iii) disclosure and transparency; and iv) Boards of Directors. Policy recommendations are developed in detail at the end of each section. The report also includes a special annex that details the reform agenda focusing on related party transaction approval and disclosure, based on the approach of the Protecting Investors indicator developed in the World Bank's Doing Business report.
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Corporate Governance Country Assessment : GhanaThis report assesses Ghana s corporate governance policy framework. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Ghana. It is an update of the 2005 Corporate Governance ROSC. Good corporate governance enhances investor trust, helps to protects minority shareholders, and can encourage better decision making and improved relations with workers, creditors, and other stakeholders. Better investor protection can lower the cost of capital and encourage companies to list and raise funds through equity markets. Investor protection is also crucial to protect retirement savings as pension funds invest more in listed companies. Good corporate governance also helps to ensure that these companies operate more transparently and efficiently.