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Details
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| Document Date:
| 2002/11/18 |
| Document Type:
| Country Assistance Strategy Document |
| Report Number:
| 25125 |
| Volume No:
| 1 |
| Country:
| Venezuela, Republica Bolivariana de ; |
| Doc Name:
| Venezuela - Interim country assistance strategy |
| Keywords:
| Accountability,administrative capacity,administrative efficiency,administrative system,analytical work,annual rate,authorization,banking system,biological diversity,business environment,capita growth,capital flight,capital flows,capital markets,central government,citizens,civil unrest,clean water,colonization,Consensus,constitution,Constitutional reform,corrupt countries,Corruption,Corruption Perceptions,Country Context,crime,Currency Unit,Debt,decentralization,decentralization process,decision making,decrees,Developing countries,Development Goals,Development Indicators,Development Programs,development strategy,Disciplinary mechanisms,discretionary powers,Diversification,domestic demand,economic conditions,Economic Context,economic contraction,economic growth,economic performance,economic policies,economic recession,economic reforms,economic structure,Employment status,enrollment ratio,environmental management,environmental regulations,ethical standards,exchange controls,exchange rate,exchange rate policy,exchange rate regime,expansionary fiscal,expansionary fiscal policy,expenditures,export diversification,external debt,External Environment,external shocks,extreme poverty,federal government,financial crisis,Financial Institution,financial institutions,Financial Management,financial markets,financial reforms,Financial Sector,financial system,FISCAL,fiscal deficit,fiscal policies,fiscal resources,fiscal revenues,fiscal stance,fiscal sustainability,foreign exchange,gender disparities,Gini Coefficient,global economy,good governance,growth model,growth path,health services,high spreads,high unemployment,high volatility,household surveys,human capital,imports,improving governance,income,income distribution,income groups,increased access,Inequality,infant mortality,inflation,informal sector,institutional capacity,institutional changes,interest rates,international trade,investment climate,judicial decisions,judicial independence,judiciary,labor force,labor market,labor productivity,labor unions,land reform,legal framework,legal reform,legal system,legislation,Lending Program,living standards,long-term growth,macroeconomic framework,macroeconomic imbalances,macroeconomic management,macroeconomic policies,Macroeconomic Stability,macroeconomic stabilization,monetary policies,Money Laundering,national consensus,natural resources,negative impact,oil,oil prices,oil sector,participatory processes,per capita growth,per capita income,Perceptions Index,policy areas,policy decisions,policy dialogue,policy makers,Political Context,political instability,political reforms,poor governance,poor person,poverty,poverty alleviation,Poverty Gap,poverty reduction,primary education,private sector investment,private sector participation,productivity,public bureaucracy,Public Debt,public debt management,public expenditure,public expenditures,public sector,public services,real interest rates,real terms,real wages,reduced poverty,reducing poverty,reform policies,reform program,regulatory framework,risk management,risk management practices,rural areas,rural poverty,safety net,secondary schools,sector activities,sector policy,short term,short-term debt,social conditions,social development,Social Indicators,social protection,social protection systems,social safety,social safety net,Social sector,social services,Socially Sustainable Development,structural reforms,sustainable,Sustainable Development,sustainable growth,tax administration,taxation,technical capacity,trade liberalization,transaction costs,Transparency,unemployment,urban areas,urban residents,wages. Macroeconomic stability; Economic diversification; Competitiveness; Governance; Political accountability; Environmentally sustainable development; Socio-economic development; Risk management; Public debt; Political constraints; Policy dialogues; Consensus building; Economic diversification; Lessons learned; Portfolio evaluation
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| Language:
| English |
| Major Sector:
| (Historic)Sector not applicable |
| Region:
| Latin America & Caribbean ; |
| Rep Title:
| Venezuela - Interim country assistance strategy |
| Sector:
| (Historic)Sector not applicable |
| Topics:
| Poverty Reduction |
| SubTopics:
| Environmental Economics & Policies ; Governance Indicators ; Achieving Shared Growth ; Poverty Assessment ; National Governance |
| Unit Owning:
| WB Off:Mexico - MX & CO CMU (LCC1C) |
| Originating Unit:
| WB Off:Mexico - MX & CO CMU (LCC1C) |
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Abstract
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| Today, Venezuela is at a critical juncture. Poverty has continued to increase and social development has further deteriorated, exacerbated by policy decisions that have negatively impacted the investment climate for private sector participation, deepened the country's political polarization, and increased uncertainty. The list of oiutstanding reforms, many of which are urgent, continues to expand. However, the coup d'etat triggered in April 2002 prompted the government to change direction. It has responded by appointing a new economic cabinet which has moved forcefully to implement several sound macroeconomic policies; partially revised decisions such as some aspects of the land reform initiative; and developed the Plan de Consenso Nacional, which includes promoting private sector participation in the revival of the economy. It is still unclear whether all actors in the country will reach a common ground for reform over the next few years and Venezuela will finally start to realize its potential, or whehter the country will spiral down into further poverty and instability. On the economic and social front, the Bank fully shares the general objectives of the government to accelerate growth, reduce poverty, and achieve greater equality. however, the Bank and the difficulties agreeing on the means to achieve them during the first years of the administration, which resulted in the Bank's scaling back its financial and analytical involvement, severelt depleting its country knowled This Interim CAS seeks to guide the World Bank Group durig the upcoming period of heightened uncertainty. It proposes a re-engagement with Venezuela through a broad policy and operational dialogue meant to contribute to the country's own search for consensus around a common development agenda. Mindful that country circumstances will call for maximum program flexibility, the WBG will search for and seize opportunities to foster opportunties to foster consensus-building interventions in the four areas of reform that are the most critical for poverty reduction: macroeconomic stability, sustainable economic diversification and competitiveness, environmentally and socially sustainable development, and good governance. The tools to deliver this program will be an enhanced package of analytical work, to underpin the policy dialogue and rebuild the Bank's much depleted country knowledge. This will be complemented by an investment lending program of about US$300 million for FY03-05, composed of selected operations that: have the most tangible impact on poverty alleviation; help meet the Millennium Development Goals by 2015; reinforce conducive sector policy; and incorporate lessons learned from the recently completed portfolio review. |
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Complete Report
Official version of document (may contain signatures, etc) |
 PDF | 54 pages | Official Version | [3.78 mb] |
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| *The text version is uncorrected OCR text and is included solely to benefit users with slow connectivity. |
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