The objective of this study was to assess the economy wide indirect benefits of investments in the East West Highway (EWH). This study has used a computable general equilibrium (CGE) model, which simulates indirect benefits associated with the completion of the upgraded road corridor. The transmission channel modeled is the reduction in transportation costs—reduction in vehicle operating costs and time savings—resulting from the investments in the EWH. This reduction in transportation costs is normally assessed when conducting cost-benefit analysis of road projects, but without assessing the indirect impacts their reduction has on the wider economy. Explicitly excluded from the analysis are the direct impacts associated with the civil works of the EWH investment program, which would have large impacts on real GDP and employment.

The Debt Management Specialist’s initial focus was an assessment of the public debt management legal environment, institutional coordination and arrangements, public debt management initiatives and capacity, public debt portfolio composition, and macroeconomic condition in Georgia. This report provides a general overview of these fore mentioned components.

A key component to this Technical Assistance program in Georgia is the Ministry of Finance’s Public Debt and External Finance Department’s efforts in developing a medium-term debt management strategy (MTDS). This document provides an overview of a medium-term debt management strategy’s concepts, potential benefits, core principles and enabling framework, and macroeconomic coordination. Also, included is a narrative on risk indicators and targets, trends in debt management, debt and capital market development as a MTDS objective, and data base system suggestions for debt management analytics.

since the outbreaks of the Asian financial crisis in the late 1900s and the global financial turmoil in 2007, assessing the strengths and weaknesses of a financial sector based on a set of financial indicators has become increasingly important. The assessment is needed mainly to identify any potential problems that may lead to vulnerability in the financial sector and cause a financial crisis. It is expected that by doing so a set of strategic policies and regulations, as well as actions, can be implemented to prevent the crisis.

Shortly after the Asian financial crisis in 1997 the Asian Development Bank (ADB) helped central banks of selected developing member countries to identify, compile, and analyze about 30 monetary and financial statistics and macroprudential indicators to identify potential problems in the financial sector to prevent another crisis. This was followed by an initiative on an early warning system, with a prototype developed to detect region-wide economic and financial vulnerabilities among members of the Association of Southeast Asian Nations, the People’s Republic of China, Japan, and the Republic of Korea.

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