FINDINGS OF THE 2017 GLOBAL SURVEY ON DEVELOPMENT BANKS
|
|
|
- Allison Taylor
- 6 years ago
- Views:
Transcription
1 FINDINGS OF THE 2017 GLOBAL SURVEY ON DEVELOPMENT BANKS September 19, 2017 José de Luna Martínez Lead Financial Sector Specialist
2 Contents 1 Background Information 2 Main Findings 3 Challenges for DFIs
3 Development Banks Banobras (Mexico) KfW (Germany) China Development Bank Agriculture Bank of Turkey Brazil National Development Bank Development Bank of Southern Africa Malaysia Development Bank Vietnam Bank for Social Policies NABARD (India) WBG is also DB Our collaboration with DBs has been historically important through lending, TA, capacity building, etc.
4 Typical Queries Received by the WBG - What is a good example of an SME development bank, agriculture bank, infrastructure bank, etc.? - Should DBs provide lending at subsidized interest rates? If so, how can a DB become financially selfsustainable? - Should DBs be regulated in the same way that private banks are? - As government-owned institutions, how can DBs be protected from undue political interference? - What are the best tools to monitor and assess performance and economic impact of DBs? 4
5 Topics Covered in the 2017 Survey (12 topics with 150 questions) Policy mandates Ownership Composition of loan portfolio Funding Business models Pricing of products Regulation Corporate governance Financial performance Monitoring and evaluation practices Restructuring Challenges
6 Survey Coverage (2011 and 2017) 135 DBs from 76 Countries Africa Asia Europe and Central Asia 1. Angola 2. Cote d Ivoire 3. Democratic Republic of Congo 4. Gabon 5. Ghana 6. Kenya 7. Mauritanie 8. Nigeria 9. Rwanda 10. Senegal 11. South Africa 12. Sudan 13. Swaziland 14. Tanzania 15. Uganda 16. Zimbabwe 17. Bangladesh 18. Bhutan 19. Cambodia 20. China 21. Cook Islands 22. Micronesia 23. Fiji 24. India 25. Malaysia 26. Mongolia 27. Nepal 28. Niue Island 29. Pakistan 30. Palau 31. Philippines 32. Republic of Vanuatu 33. Samoa 34. Sri Lanka 35. Thailand 36. Tonga 37. Vanuatu 38. Vietnam 39. Austria 40. Bulgaria 41. Croatia 42. Finland 43. Germany 44. Hungary 45. Latvia 46. Norway 47. North Cyprus 48. Poland 49. Russia 50. Slovakia 51. Slovenia 52. Switzerland 53. Turkey Americas 54. Antigua and Barbuda 55. Argentina 56. Bolivia 57. Brazil 58. Canada 59. Chile 60. Colombia 61. Costa Rica 62. Curacao 63. Dominican Republic 64. Ecuador 65. El Salvador 66. Guatemala 67. Mexico 68. Paraguay 69. Peru 70. Uruguay 71. Venezuela Middle East and North Africa 72. Egypt 73. Kuwait 74. Morocco 75. Oman 76. Tunisia
7 DBs by Year of Establishment 35% 33% 33% 30% 25% 20% 20% 15% 13% 10% 5% 0% Before to to 1999 Since 2000 New national institutions: Development Bank of Austria, PT Sarana Multi Infrastruktur (Persero), SFIL (France) and Development Bank of Nigeria. New institutions at regional level: Asian Infrastructure Investment Bank and New Development Bank (BRICs Development Bank).
8 The Countercyclical Role of DBs After theglobal FinancialCrisis ( ) As a group, DBs experienced 64% growth in their lending portfolios for the period 2010 to 2015 or 13% per year. 82% of all DBs in the survey had positive growth and only 18% negative growth in their loan portfolios.
9 Policy Mandates of DBs DBs by Type of Mandate Market niche Percent of DBs in the survey 1. Specific 50% Agriculture 5% SMEs 13% International trade 11% Housing 2% Infrastructure 8% Local governments 3% Savings and microfinance 8% 2. Broad 50% Total 100%
10 What are the target markets of DBs? Target Market % of DBs SMEs 83% Large private corporations 78% Other financial institutions 58% State-owned enterprises 49% Individuals and households 41% Local governments 36% Among DBs, there is a strong orientation to serve the private sector (SMEs and large private corporations) Also,there is a strong orientation to provide financing to private financial institutions in order to reach out end-customers
11 Regulation and Supervision of DBs Regulation and Supervision of DBs Yes No Is the DB supervised by the same institution that supervises private commercial banks? 72% 28% If you follow the Basel Capital Accord, doyou apply: Basel 1 Basel 2 Basel 3 24% 44% 31% Is your institution rated by an international rating agency? 54% 46%
12 Most DBs are Owned by the State Percentage of State Ownership in DBs 3% State owns 100% 24% 73% State owns 50% to 99% State owns less than 50% 73% of DBs are fully owned by the State. Private sector is a minority shareholder in 24% of DBs. In 3% of cases, the State is a minority shareholder.
13 Corporate Governance of DBs Boards of DFIs are dominated by government representatives: Average board size is 9 members with a wide range of government representatives (Ministries of Finance, Labor, Social Affairs, Housing, Trade, Industry, etc.) Although 83% of boards in DBs have independent members, they are usually a minority in the board. By large, the government appoints all board members and CEOs of the DBs.
14 Main Challenges Faced by DBs 1. Strengthen risk-management capacity 2. Become financially selfsustainable 3. Improve corporate governance and transparency 4. Acquire more flexibility to hire and retain highly qualified staff 5. Reduce undue political interference 14
15 Are DBs Ready to Fulfill their Developmental Mandates? Category 1 Poorly prepared Category 2 Satisfactorily prepared Category 3 Well prepared High dependence on government funds Recurrent financial losses Conflicting social and economic objectives Limited economic impact Vulnerable to undue political interference Profitable institutions Well-administered Fbut there is room to improve: Policy mandates Corporate governance Risk management Financial strength High innovation capability (financial products, outreach target market in collaboration with private financial institutions) Right combination of financial and advisory services High standards of corporate governance and accountability
16 Conclusions DBs remain an important policy tool to foster economic development around the world. More than ever, DBs can play a catalytic role by crowding in private sector institutions into strategic sectors of the economy or serving specific niches of the market. Although some DBs perform well, others underperform. Strengthening DBs requires revising their policy mandates, upgrading governance structures, enhancing regulation and supervision, enhancing business models, and strengthening risk management. 16
17 THANK YOU
Role and Challenges of Specialized Financial Institutions
Seminar on Specialized Financial Institutions in the New Edition: Role of Financial Inclusion for Inclusive and Sustainable Growth Role and Challenges of Specialized Financial Institutions Jose De Luna
IMF-FED-WB Seminar for Senior Bank Supervisors from Emerging Market Economies October 17-28, José de Luna Martínez Carlos Leonardo Vicente
IMF-FED-WB Seminar for Senior Bank Supervisors from Emerging Market Economies October 17-28, 2011 José de Luna Martínez Carlos Leonardo Vicente 1. State-Owned Financial Institutions 2. WB Survey on Development
Argentina Bahamas Barbados Bermuda Bolivia Brazil British Virgin Islands Canada Cayman Islands Chile
Americas Argentina (Banking and finance; Capital markets: Debt; Capital markets: Equity; M&A; Project Bahamas (Financial and corporate) Barbados (Financial and corporate) Bermuda (Financial and corporate)
TRENDS AND MARKERS Signatories to the United Nations Convention against Transnational Organised Crime
A F R I C A WA T C H TRENDS AND MARKERS Signatories to the United Nations Convention against Transnational Organised Crime Afghanistan Albania Algeria Andorra Angola Antigua and Barbuda Argentina Armenia
Total Imports by Volume (Gallons per Country)
10/5/2017 Imports by Volume (Gallons per Country) YTD YTD Country 08/2016 08/2017 % Change 2016 2017 % Change MEXICO 51,349,849 67,180,788 30.8 % 475,806,632 503,129,061 5.7 % NETHERLANDS 12,756,776 12,954,789
Total Imports by Volume (Gallons per Country)
1/5/2018 Imports by Volume (Gallons per Country) YTD YTD Country 11/2016 11/2017 % Change 2016 2017 % Change MEXICO 50,994,409 48,959,909 (4.0)% 631,442,105 657,851,150 4.2 % NETHERLANDS 9,378,351 11,903,919
Total Imports by Volume (Gallons per Country)
11/2/2018 Imports by Volume (Gallons per Country) YTD YTD Country 09/2017 09/2018 % Change 2017 2018 % Change MEXICO 49,299,573 57,635,840 16.9 % 552,428,635 601,679,687 8.9 % NETHERLANDS 11,656,759 13,024,144
Total Imports by Volume (Gallons per Country)
2/6/2018 Imports by Volume (Gallons per Country) YTD YTD Country 12/2016 12/2017 % Change 2016 2017 % Change MEXICO 50,839,282 54,169,734 6.6 % 682,281,387 712,020,884 4.4 % NETHERLANDS 10,630,799 11,037,475
Total Imports by Volume (Gallons per Country)
10/5/2018 Imports by Volume (Gallons per Country) YTD YTD Country 08/2017 08/2018 % Change 2017 2018 % Change MEXICO 67,180,788 71,483,563 6.4 % 503,129,061 544,043,847 8.1 % NETHERLANDS 12,954,789 12,582,508
Total Imports by Volume (Gallons per Country)
12/6/2018 Imports by Volume (Gallons per Country) YTD YTD Country 10/2017 10/2018 % Change 2017 2018 % Change MEXICO 56,462,606 60,951,402 8.0 % 608,891,240 662,631,088 8.8 % NETHERLANDS 11,381,432 10,220,226
Total Imports by Volume (Gallons per Country)
2/6/2019 Imports by Volume (Gallons per Country) YTD YTD Country 11/2017 11/2018 % Change 2017 2018 % Change MEXICO 48,959,909 54,285,392 10.9 % 657,851,150 716,916,480 9.0 % NETHERLANDS 11,903,919 10,024,814
Total Imports by Volume (Gallons per Country)
3/6/2019 Imports by Volume (Gallons per Country) YTD YTD Country 12/2017 12/2018 % Change 2017 2018 % Change MEXICO 54,169,734 56,505,154 4.3 % 712,020,884 773,421,634 8.6 % NETHERLANDS 11,037,475 8,403,018
Total Imports by Volume (Gallons per Country)
6/6/2018 Imports by Volume (Gallons per Country) YTD YTD Country 04/2017 04/2018 % Change 2017 2018 % Change MEXICO 60,968,190 71,994,646 18.1 % 231,460,145 253,500,213 9.5 % NETHERLANDS 13,307,731 10,001,693
Total Imports by Volume (Gallons per Country)
7/6/2018 Imports by Volume (Gallons per Country) YTD YTD Country 05/2017 05/2018 % Change 2017 2018 % Change MEXICO 71,166,360 74,896,922 5.2 % 302,626,505 328,397,135 8.5 % NETHERLANDS 12,039,171 13,341,929
Total Imports by Volume (Gallons per Country)
5/4/2016 Imports by Volume (Gallons per Country) YTD YTD Country 03/2015 03/2016 % Change 2015 2016 % Change MEXICO 53,821,885 60,813,992 13.0 % 143,313,133 167,568,280 16.9 % NETHERLANDS 11,031,990 12,362,256
2 Albania Algeria , Andorra
1 Afghanistan LDC 110 80 110 80 219 160 2 Albania 631 460 631 460 1 262 920 3 Algeria 8 628 6,290 8 615 6 280 17 243 12 570 4 Andorra 837 610 837 610 1 674 1 220 5 Angola LDC 316 230 316 230 631 460 6
GEF Evaluation Office MID-TERM REVIEW OF THE GEF RESOURCE ALLOCATION FRAMEWORK. Portfolio Analysis and Historical Allocations
GEF Evaluation Office MID-TERM REVIEW OF THE GEF RESOURCE ALLOCATION FRAMEWORK Portfolio Analysis and Historical Allocations Statistical Annex #2 30 October 2008 Midterm Review Contents Table 1: Historical
Total Imports by Volume (Gallons per Country)
3/7/2018 Imports by Volume (Gallons per Country) YTD YTD Country 01/2017 01/2018 % Change 2017 2018 % Change MEXICO 54,235,419 58,937,856 8.7 % 54,235,419 58,937,856 8.7 % NETHERLANDS 12,265,935 10,356,183
2019 Daily Prayer for Peace Country Cycle
2019 Daily Prayer for Peace Country Cycle Tuesday January 1, 2019 All Nations Wednesday January 2, 2019 Thailand Thursday January 3, 2019 Sudan Friday January 4, 2019 Solomon Islands Saturday January 5,
Request to accept inclusive insurance P6L or EASY Pauschal
5002001020 page 1 of 7 Request to accept inclusive insurance P6L or EASY Pauschal APPLICANT (INSURANCE POLICY HOLDER) Full company name and address WE ARE APPLYING FOR COVER PRIOR TO DELIVERY (PRE-SHIPMENT
Total Imports by Volume (Gallons per Country)
4/5/2018 Imports by Volume (Gallons per Country) YTD YTD Country 02/2017 02/2018 % Change 2017 2018 % Change MEXICO 53,961,589 55,268,981 2.4 % 108,197,008 114,206,836 5.6 % NETHERLANDS 12,804,152 11,235,029
Scale of Assessment of Members' Contributions for 2008
General Conference GC(51)/21 Date: 28 August 2007 General Distribution Original: English Fifty-first regular session Item 13 of the provisional agenda (GC(51)/1) Scale of Assessment of s' Contributions
SHARE IN OUR FUTURE AN ADVENTURE IN EMPLOYEE STOCK OWNERSHIP DEBBI MARCUS, UNILEVER
SHARE IN OUR FUTURE AN ADVENTURE IN EMPLOYEE STOCK OWNERSHIP DEBBI MARCUS, UNILEVER DEBBI.MARCUS@UNILEVER.COM RUTGERS SCHOOL OF MANAGEMENT AND LABOR RELATIONS NJ/NY CENTER FOR EMPLOYEE OWNERSHIP AGENDA
Overview of FSC-certified forests January January Maps of extend of FSC-certified forest globally and country specific
Overview of FSCcertified forests January 2009 Maps of extend of FSCcertified forest globally and country specific Global certified forest area: 120.052.350 ha ( = 4,3%) + 11% Hectare FSCcertified forest
EMBARGOED UNTIL GMT 1 AUGUST
2016 Global Breastfeeding Scorecard: Country Scores EMBARGOED UNTIL 00.01 GMT 1 AUGUST Enabling Environment Reporting Practice UN Region Country Donor Funding (USD) Per Live Birth Legal Status of the Code
Annex Supporting international mobility: calculating salaries
Annex 5.2 - Supporting international mobility: calculating salaries Base salary refers to a fixed amount of money paid to an Employee in return for work performed and it is determined in accordance with
Household Debt and Business Cycles Worldwide Out-of-sample results based on IMF s new Global Debt Database
Household Debt and Business Cycles Worldwide Out-of-sample results based on IMF s new Global Debt Database Atif Mian Princeton University and NBER Amir Sufi University of Chicago Booth School of Business
WGI Ranking for SA8000 System
Afghanistan not rated Highest Risk ALBANIA 47 High Risk ALGERIA 24 Highest Risk AMERICAN SAMOA 74 Lower Risk ANDORRA 91 Lower Risk ANGOLA 16 Highest Risk ANGUILLA 90 Lower Risk ANTIGUA AND BARBUDA 76 Lower
INTERNATIONAL CONVENTION ON STANDARDS OF TRAINING, CERTIFICATION AND WATCHKEEPING FOR SEAFARERS (STCW), 1978, AS AMENDED
E 4 ALBERT EMBANKMENT LONDON SE1 7SR Telephone: +44 (0)20 7735 711 Fax: +44 (0)20 7587 3210 1 January 2019 INTERNATIONAL CONVENTION ON STANDARDS OF TRAINING, CERTIFICATION AND WATCHKEEPING FOR SEAFARERS
Dutch tax treaty overview Q3, 2012
Dutch tax treaty overview Q3, 2012 Hendrik van Duijn DTS Duijn's Tax Solutions Zuidplein 36 (WTC Tower H) 1077 XV Amsterdam The Netherlands T +31 888 387 669 T +31 888 DTS NOW F +31 88 8 387 601 duijn@duijntax.com
YUM! Brands, Inc. Historical Financial Summary. Second Quarter, 2017
YUM! Brands, Inc. Historical Financial Summary Second Quarter, 2017 YUM! Brands, Inc. Consolidated Statements of Income (in millions, except per share amounts) 2017 2016 2015 YTD Q3 Q4 FY FY Revenues Company
Annual Report on Exchange Arrangements and Exchange Restrictions 2011
Annual Report on Exchange Arrangements and Exchange Restrictions 2011 Volume 1 of 4 ISBN: 978-1-61839-226-8 Copyright 2010 International Monetary Fund International Monetary Fund, Publication Services
ANNEX 2: Methodology and data of the Starting a Foreign Investment indicators
ANNEX 2: Methodology and data of the Starting a Foreign Investment indicators Methodology The Starting a Foreign Investment indicators quantify several aspects of business establishment regimes important
Supplementary Table S1 National mitigation objectives included in INDCs from Jan to Jul. 2017
1 Supplementary Table S1 National mitigation objectives included in INDCs from Jan. 2015 to Jul. 2017 Country Submitted Date GHG Reduction Target Quantified Unconditional Conditional Asia Afghanistan Oct.,
Withholding Tax Rates 2014*
Withholding Tax Rates 2014* (Rates are current as of 1 March 2014) Jurisdiction Dividends Interest Royalties Notes Afghanistan 20% 20% 20% International Tax Albania 10% 10% 10% Algeria 15% 10% 24% Andorra
JPMorgan Funds statistics report: Emerging Markets Debt Fund
NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE JPMorgan Funds statistics report: Emerging Markets Debt Fund Data as of November 30, 2016 Must be preceded or accompanied by a prospectus. jpmorganfunds.com
HEALTH WEALTH CAREER 2017 WORLDWIDE BENEFIT & EMPLOYMENT GUIDELINES
HEALTH WEALTH CAREER 2017 WORLDWIDE BENEFIT & EMPLOYMENT GUIDELINES WORLDWIDE BENEFIT & EMPLOYMENT GUIDELINES AT A GLANCE GEOGRAPHY 77 COUNTRIES COVERED 5 REGIONS Americas Asia Pacific Central & Eastern
Pension Payments Made To Foreign Bank Accounts
West Midlands Pension Fund West Midlands Pension Fund Pension Payments Made To Foreign Bank Accounts A Guide to Worldlink Payment Services August 2012 What does WorldLink Payment Services offer? WorldLink
Kentucky Cabinet for Economic Development Office of Workforce, Community Development, and Research
Table 2 Kentucky s Exports to the World -- Inclusive of Year to Date () Values in $ Thousands 2016 Year to Date Total All Countries $ 29,201,010 $ 30,857,275 5.7% $ 20,030,998 $ 20,925,509 4.5% Canada
International Trade Data System (ITDS) Source: Last Updated: 4/23/2004
International Trade Data System (ITDS) Source: http://www.itds.treas.gov/gsp.html Last Updated: 4/23/2004 The United States of America under the Generalized System of Preferences (GSP), provides preferential
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT BOARD OF GOVERNORS. Resolution No. 612
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT BOARD OF GOVERNORS Resolution No. 612 2010 Selective Increase in Authorized Capital Stock to Enhance Voice and Participation of Developing and Transition
When is an employee considered to be living away from their normal place of residence?
Living Away From Home Allowance (LAFHA) What is a LAFHA? The payment of a living-away-from-home allowance (LAFHA) is a fringe benefit. For FBT purposes, a LAFHA is an allowance the University (as the employer)
INTERNATIONAL CONVENTION ON STANDARDS OF TRAINING, CERTIFICATION AND WATCHKEEPING FOR SEAFARERS (STCW), 1978, AS AMENDED
E 4 ALBERT EMBANKMENT LONDON SE 7SR Telephone: +44 (0)20 7735 76 Fax: +44 (0)20 7587 320 MSC./Circ.64/Rev.5 7 June 205 INTERNATIONAL CONVENTION ON STANDARDS OF TRAINING, CERTIFICATION AND WATCHKEEPING
Institutions, Capital Flight and the Resource Curse. Ragnar Torvik Department of Economics Norwegian University of Science and Technology
Institutions, Capital Flight and the Resource Curse Ragnar Torvik Department of Economics Norwegian University of Science and Technology The resource curse Wave 1: Case studies, Gelb (1988) The resource
MAXIMUM MONTHLY STIPEND RATES FOR FELLOWS AND SCHOLARS. Afghanistan $135 $608 $911 1 March Albania $144 $2,268 $3,402 1 January 2005
MAXIMUM MONTHLY STIPEND RATES FOR FELLOWS AND SCHOLARS (IN U.S. DOLLARS FOR COST ESTIMATE) COUNTRY DSA(US$) MAX RES RATE MAX TRV RATE EFFECTIVE DATE OF % Afghanistan $135 $608 $911 1 March 1989 Albania
IBRD/IDA and Blend Countries: Per Capita Incomes, Lending Eligibility, IDA Repayment Terms
Page 1 of 7 Note: This OP 3.10, Annex D replaces the version dated September 2013. The revised terms are effective for all loans that are approved on or after July 1, 2014. IBRD/IDA and Blend Countries:
WILLIAMS MULLEN. U.S. Trade Preference Programs & Trade Agreements
WILLIAMS MULLEN U.S. Trade Preference Programs & Trade The attached listing reflects the status of special U.S. trade programs or free trade agreements ("FTA") between the U.S. and identified countries
Report to Donors Sponsored Delegates to the 12th Conference of the Parties Punta del Este, Uruguay 1-9 June 2015
Report to Donors Sponsored Delegates to the 12th Conference of the Parties Punta dell Este, Uruguay 1-9 June 2015 1 Contents Details of sponsorship Table 1. Fundraising (income from donors) Table 2. Sponsored
The Budget of the International Treaty. Financial Report The Core Administrative Budget
The Budget of the International Treaty Financial Report 2016 The Core Administrative Budget Including statements of amounts due and received for The Working Capital Reserve and The Third Party Beneficiary
Summary 715 SUMMARY. Minimum Legal Fee Schedule. Loser Pays Statute. Prohibition Against Legal Advertising / Soliciting of Pro bono
Summary Country Fee Aid Angola No No No Argentina No, with No No No Armenia, with No No No No, however the foreign Attorneys need to be registered at the Chamber of Advocates to be able to practice attorney
Senior Leadership Programme (SLP) CATA Commonwealth Association of Tax Administrators
Senior Leadership Programme (SLP) CATA Commonwealth Association of Tax Administrators Prospectus 2018 Senior Leadership Programme The Senior Leadership Programme (SLP) is designed to equip senior tax officials
The Changing Wealth of Nations 2018
The Changing Wealth of Nations 2018 Building a Sustainable Future Editors: Glenn-Marie Lange Quentin Wodon Kevin Carey Wealth accounts available for 141 countries, 1995 to 2014 Market exchange rates Human
IBRD/IDA and Blend Countries: Per Capita Incomes, Lending Eligibility, and Repayment Terms
Page 1 of 7 (Updated ) Note: This OP 3.10, Annex D replaces the version dated March 2013. The revised terms are effective for all loans for which invitations to negotiate are issued on or after July 1,
Clinical Trials Insurance
Allianz Global Corporate & Specialty Clinical Trials Insurance Global solutions for clinical trials liability Specialist cover for clinical research The challenges of international clinical research are
SCHEDULE OF REVIEWS (DECEMBER 2017)
2016-2020 SCHEDULE OF REVIEWS (DECEMBER 2017) 2016-2021 SCHEDULE OF EOIR REVIEWS 1. At its meeting in Jakarta on 21-22 November 2013, the Global Forum agreed that a new round of peer reviews for the Exchange
Social Protection Floor Index Monitoring National Social Protection Policy Implementation
Social Protection Floor Index Monitoring National Social Protection Policy Implementation Mira Bierbaum (UNU-MERIT/MGSoG) Presentation at Conference on Financing Social Protection Exploring innovative
Today's CPI data: what you need to know
Trend Macrolytics, LLC Donald Luskin, Chief Investment Officer Thomas Demas, Managing Director Michael Warren, Energy Strategist Data Insights: Consumer Price Index, Producer Price Index Friday, July 14,
Dutch tax treaty overview Q4, 2013
Dutch tax treaty overview Q4, 2013 Hendrik van Duijn DTS Duijn's Tax Solutions Zuidplein 36 (WTC Tower H) 1077 XV Amsterdam The Netherlands T +31 888 387 669 T +31 888 DTS NOW F +31 88 8 387 601 duijn@duijntax.com
(ISC)2 Career Impact Survey
(ISC)2 Career Impact Survey 1. In what country are you located? Albania 0.0% 0 Andorra 0.0% 1 Angola 0.0% 0 Antigua and Barbuda 0.0% 0 Argentina 0.3% 9 Australia 2.0% 61 Austria 0.2% 6 Azerbaijan 0.0%
STATISTICS ON EXTERNAL INDEBTEDNESS
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT PARIS BANK FOR INTERNATIONAL SETTLEMENTS BASLE STATISTICS ON EXTERNAL INDEBTEDNESS Bank and trade-related non-bank external claims on individual borrowing
Today's CPI data: what you need to know
Trend Macrolytics, LLC Donald Luskin, Chief Investment Officer Thomas Demas, Managing Director Michael Warren, Energy Strategist Data Insights: Consumer Price Index, Producer Price Index Wednesday, December
Today's CPI data: what you need to know
Trend Macrolytics, LLC Donald Luskin, Chief Investment Officer Thomas Demas, Managing Director Michael Warren, Energy Strategist Data Insights: Consumer Price Index, Producer Price Index Wednesday, February
International trade transparency: the issue in the World Trade Organization
Magalhães 11 International trade transparency: the issue in the World Trade Organization João Magalhães Introduction I was asked to participate in the discussion on international trade transparency with
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT BOARD OF GOVERNORS. Resolution No General Capital Increase
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT BOARD OF GOVERNORS Resolution No. 663 2018 General Capital Increase WHEREAS the Executive Directors, having considered the question of enlarging the
RESOLUTION 14/2017 WORK PROGRAMME AND BUDGET
IT/GB7/17/Res14 RESOLUTION 14/2017 WORK PROGRAMME AND BUDGET 201819 THE GOVERNING BODY, Recalling that: a) The FAO Governing Bodies have determined that the Treaty on Plant Genetic Resources for Food and
Today's CPI data: what you need to know
Trend Macrolytics, LLC Donald Luskin, Chief Investment Officer Thomas Demas, Managing Director Michael Warren, Energy Strategist Data Insights: Consumer Price Index, Producer Price Index Thursday, July
Today's CPI data: what you need to know
Trend Macrolytics, LLC Donald Luskin, Chief Investment Officer Thomas Demas, Managing Director Michael Warren, Energy Strategist Data Insights: Consumer Price Index, Producer Price Index Friday, January
Today's CPI data: what you need to know
Trend Macrolytics, LLC Donald Luskin, Chief Investment Officer Thomas Demas, Managing Director Michael Warren, Energy Strategist Data Insights: Consumer Price Index, Producer Price Index Wednesday, April
SURVEY TO DETERMINE THE PERCENTAGE OF NATIONAL REVENUE REPRESENTED BY CUSTOMS DUTIES INTRODUCTION
SURVEY TO DETERMINE THE PERCENTAGE OF NATIONAL REVENUE REPRESENTED BY CUSTOMS DUTIES INTRODUCTION This publication provides information about the share of national revenues represented by Customs duties.
Legal Indicators for Combining work, family and personal life
Legal Indicators for Combining work, family and personal life Country Africa Algeria 14 100% Angola 3 months 100% Mixed (if necessary, employer tops up social security) Benin 14 100% Mixed (50% Botswana
Today's CPI data: what you need to know
Trend Macrolytics, LLC Donald Luskin, Chief Investment Officer Thomas Demas, Managing Director Michael Warren, Energy Strategist Data Insights: Consumer Price Index, Producer Price Index Friday, August
Today's CPI data: what you need to know
Trend Macrolytics, LLC Donald Luskin, Chief Investment Officer Thomas Demas, Managing Director Michael Warren, Energy Strategist Data Insights: Consumer Price Index, Producer Price Index Friday, October
Today's CPI data: what you need to know
Trend Macrolytics, LLC Donald Luskin, Chief Investment Officer Thomas Demas, Managing Director Michael Warren, Energy Strategist Data Insights: Consumer Price Index, Producer Price Index Wednesday, November
Appendix. Table S1: Construct Validity Tests for StateHist
Appendix Table S1: Construct Validity Tests for StateHist (5) (6) Roads Water Hospitals Doctors Mort5 LifeExp GDP/cap 60 4.24 6.72** 0.53* 0.67** 24.37** 6.97** (2.73) (1.59) (0.22) (0.09) (4.72) (0.85)
Memoranda of Understanding
UNEP/CMS/Inf.10.4 Parties to the CONVENTION ON THE CONSERVATION OF MIGRATORY SPECIES OF WILD ANIMALS and its Agreements as at 1 November 2011 Legend CMS Party n = shows the chronological order of the Parties
SANGAM GLOBAL PHARMACEUTICAL & REGULATORY CONSULTANCY
SANGAM GLOBAL PHARMACEUTICAL & REGULATORY CONSULTANCY Regulatory Affairs Worldwide An ISO 9001:2015 Certified Company Welcome to Sangam Global Pharmaceutical & Regulatory Consultancy (SGPRC) established
Guide to Treatment of Withholding Tax Rates. January 2018
Guide to Treatment of Withholding Tax Rates Contents 1. Introduction 1 1.1. Aims of the Guide 1 1.2. Withholding Tax Definition 1 1.3. Double Taxation Treaties 1 1.4. Information Sources 1 1.5. Guide Upkeep
15 Popular Q&A regarding Transfer Pricing Documentation (TPD) In brief. WTS strong presence in about 100 countries
15 Popular Q&A regarding Transfer Pricing Documentation (TPD) Contacts China Martin Ng Managing Partner Martin.ng@worldtaxservice.cn + 86 21 5047 8665 ext.202 Xiaojie Tang Manager Xiaojie.tang@worldtaxservice.cn
26 MAY Boustead Singapore Limited FY2010 Financial Results Presentation
26 MAY 2010 Boustead Singapore Limited FY2010 Financial Results Presentation Disclaimer This presentation contains certain statements that are not statements of historical fact such as forward-looking
Index of Financial Inclusion. (A concept note)
Index of Financial Inclusion (A concept note) Mandira Sarma Indian Council for Research on International Economic Relations Core 6A, 4th Floor, India Habitat Centre, Delhi 100003 Email: mandira@icrier.res.in
Key Activities of the WB/IFC Securities Markets Group. Global Capital Markets Development Department
Key Activities of the WB/IFC Securities Markets Group Global Capital Markets Development Department WB-IFC Securities Market Group (GCMSM) WBG Global Product Group for local securities market development
Long Association List of Jurisdictions Surveyed for Which a Response Has Been Received
Agenda Item 7-B Long Association List of Jurisdictions Surveed for Which a Has Been Received Jurisdictions Region IFAC Largest 29 G10 G20 EU/EEA IOSCO IFIAR Surve Abu Dhabi Member (UAE) Albania Member
Today's CPI data: what you need to know
Trend Macrolytics, LLC Donald Luskin, Chief Investment Officer Thomas Demas, Managing Director Michael Warren, Energy Strategist Data Insights: Consumer Price Index, Producer Price Index Thursday, October
TIMID GLOBAL GROWTH: THE NEW NORMAL?
TIMID GLOBAL GROWTH: THE NEW NORMAL? 1 THE IMF FORECASTS GLOBAL GROWTH OF ~ 3.% IN 1/1, with a pickup in advanced economies and stabilization in emerging markets According to the IMF, global growth is
02. Profile. Organizational
02. Profile Organizational 11 KPMG International GRI 2.1 I 2.3 I 2.8 KPMG International Cooperative (KPMG International) is a Swiss entity a corporate firm constituted in accordance with the Law from Switzerland
a closer look GLOBAL TAX WEEKLY ISSUE 249 AUGUST 17, 2017
GLOBAL TAX WEEKLY a closer look ISSUE 249 AUGUST 17, 2017 SUBJECTS TRANSFER PRICING INTELLECTUAL PROPERTY VAT, GST AND SALES TAX CORPORATE TAXATION INDIVIDUAL TAXATION REAL ESTATE AND PROPERTY TAXES INTERNATIONAL
Figure 1. Exposed Countries
The Global Economic Crisis: Assessing Vulnerability with a Poverty Lens 1 Almost all developed and developing countries are suffering from the global economic crisis. While developed countries are experiencing
Instruction Deadline. *Settlement Cycle
Argentina Equity & Fixed Income T+0-T+2 SD+1 2:30 SD+1 2:30 Fixed Income (MAECLEAR) T+0-T+2 SD 23:00 SD 23:00 Physical T+0-T+2 SD 23:00 SD 23:00 Australia Equity T+2 SD 5:30 SD 10:30 Fixed Income T+2 SD
EQUITY REPORTING & WITHHOLDING. Updated May 2016
EQUITY REPORTING & WITHHOLDING Updated May 2016 When you exercise stock options or have RSUs lapse, there may be tax implications in any country in which you worked for P&G during the period from the
Convention on the Conservation of Migratory Species of Wild Animals
Convention on the Conservation of Migratory Species of Wild Animals 48 th Meeting of the Standing Committee Bonn, Germany, 23 24 October UNEP/CMS/StC48/Doc.9.1 IMPLEMENTATION OF THE CMS BUDGET (as at 31
CNH and China QFII market: Opportunities and Challenges A Fund Custodian and Administrator's Perspective"
CNH and China QFII market: Opportunities and Challenges A Fund Custodian and Administrator's Perspective" Eric Chow HSBC Securities Services June 2011 2 Agenda About HSBC Securities Services (HSS) Introducing
1.1 LIST OF DAILY MAXIMUM AMOUNT PER COUNTRY WHICH IS DEEMED TO BEEN EXPENDED
1 SUBSISTENCE ALLOWANCE FOREIGN TRAVEL 1.1 LIST OF DAILY MAXIMUM AMOUNT PER COUNTRY WHICH IS DEEMED TO BEEN EXPENDED Albania Euro 97 Algeria Euro 161 Angola US $ 312 Antigua and Barbuda US $ 220 Argentina
26 MAY Boustead Singapore Limited / Boustead Projects Limited Joint FY2015 Financial Results Presentation
26 MAY 2015 Boustead Singapore Limited / Boustead Projects Limited Joint FY2015 Financial Results Presentation Disclaimer This presentation contains certain statements that are not statements of historical
Withholding Tax Rates 2017*
Withholding Tax Rates 2017* International Tax Updated March 2017 Jurisdiction Dividends Interest Royalties Notes Albania 15% 15% 15% Algeria 15% 10% 24% Andorra 0% 0% 5% Angola 10% 15% 10% Anguilla 0%
IMPENDING CHANGES. Subsistence Allowances
IMPENDING CHANGES Subsistence Allowances This document serves to keep stakeholders informed of impending changes regarding the amount of a subsistence allowance deemed to have been expended in terms of
COUNCIL. Hundred and Fifty-sixth Session. Rome, April Status of Current Assessments and Arrears as at 17 April 2017.
April 2017 CL 156/LIM/2 Rev.1 E COUNCIL Hundred and Fifty-sixth Session Rome, 24-28 April 2017 Status of Current Assessments and Arrears as at 17 April 2017 Executive summary The document presents the
n O v e m b e R Securities Industry And Financial Markets Global Addendum 2007 Volume I I No. New York n Washington n London n Hong Kong
ReseaRch RePORT n O v e m b e R 2 7 Securities Industry And Financial Markets Global Addendum 27 Volume I I No. 1 New York n Washington n London n Hong Kong SIFMA RESEARCH AND POLICY DEPARTMENT Michael
Pros and Cons of BITs for Developing Countries
Pros and Cons of BITs for Developing Countries Manuel F Montes Institute of Policy Studies Colombo, 7 November 2016 PROS PROS o Developing countries need for foreign investment o BITs as ONE strategy CONS
ANNEX 2. The following 2016 per capita income guidelines apply for operational purposes:
ANNEX 2 IBRD/IDA and Blend Countries: Per Capita s, Eligibility, and Repayment Terms The financing terms below are effective for all IBRD loans and IDA Financing that are approved by the Executive Directors
Chart 1 summarizes the status with respect to assessments as of 30 September 2016 and 30 September 2017.
Check against delivery Financial situation of the United Nations Statement by Jan Beagle, Under-Secretary-General for Management Fifth Committee of the General Assembly at its 72 nd session 6 October 2017