Browsing by Author "Kitabire, Damoni"

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    Capital Inflows and Macroeconomic Policy in Sub-Saharan Africa
    (Palgrave Macmillan, 1999) Kasekende, Louis; Kitabire, Damoni; Martin, Matthew
    During the last three years, there has been an expanding literature on private capital inflows to developing countries. In 1992 and 1993, attention focused on the rise in such inflows, their causes and nature. Gradually, it moved to their potential macroeconomic impact and the policy implications. In 1994 and 1995, following events in Mexico, it has concentrated on the sustainability of the inflows, and the policy implications of potential reversal. Virtually all of the studies have focused on Latin America, though some authors have also examined East Asian experiences. Analysis of Eastern Europe is extremely rare (Calvo, Sahay and Vegh, 1995; Griffith-Jones, 1995), and that of Mrica is virtually non-existent (with the notable exception of the excellent study by Asea and Reinhart, 1995). Even the most comprehensive recent analysis and survey of the literature (Fernandez-Arias and Montiel, 1995) has concluded that there is only impressionistic evidence of private capital inflows to sub-Saharan Mrica, where 'capital inflows have not materialized'. Mrica has continued to be analysed from the point of view that most of its capital inflows causing 'Dutch Disease' effects are aid inflows (see, for example, Younger, 1992). The key areas examined in the literature have been the scale and composition of private capital inflows, their causes and sustainability, their effects on macroeconomic stability, and their responsiveness to policy measures.
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    Implications of Substantially Increased Development Aid: The Case of Uganda
    (Institute of Development Studies, 2005) Kitabire, Damoni
    The Commission for Africa envisages that development assistance must be doubled if Millennium Development Goals (MDGs) are to be met. To bridge the short to medium-term gap in financing (the difference between doubled aid and current donor commitments), it is proposed that the International Finance Facility (IFF) will use the value of long-term donor commitments to the IFF to raise large sums in the short to medium-term by issuing bonds on international capital markets. By bringing forward the value of long-term donor commitments, the IFF will enable a critical mass of aid to be invested in the short-term (“front loading”), while leaving current donor commitments unaffected. The IFF will seek to use existing effective bilateral and multilateral mechanisms to disburse funds raised through the Facility and will ensure that disbursements reflect donor’s preferred delivery channels.
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    MDG Achievement and Debt Sustainability In HIPC and other Critically Indebted Developing Countries: Thoughts on an Assessment Framework
    (New York, 2006) Kitabire, Damoni; Kabanda, Moses
    This paper reviews the evidence on post-HIPC debt sustainability, 10 years on from the start of the HIPC process. In light of the evidence, it discusses the assessment of debt sustainability in the context of MDG achievement in low income countries. The evidence on post-HIPC debt sustainability is not encouraging, although the volumes of debt relief delivered by the HIPC initiative have been significant. An independent World Bank evaluation2 shows that debt ratios have deteriorated in 11 out of the 13 countries for which post-completion point data is available, with ratios having risen above the HIPC thresholds in 8 of them.