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2. Debt Policy of State-Owned Mining Enterprises in Mongolia
- Author:
- Andrew Bauer and Batpurev Ayushsuren
- Publication Date:
- 09-2022
- Content Type:
- Special Report
- Institution:
- Natural Resource Governance Institute
- Abstract:
- Mongolia relies heavily on state-owned enterprises (SOEs) to manage several key mining assets. Baganuur, Shivee Ovoo, Erdenet, Mongolrostsvetmet and Erdenes Tavan Tolgoi are the most important majority state-owned companies operating large-scale mines. From 2019 to 2021, debt held by mining SOEs increased 4.3 times. The total liabilities of these companies reached USD 2.3 billion, representing 15 percent of GDP. The new debt was largely issued to cover social spending and an economically questionable railway project. It is unclear how the government intends to service this debt, particularly since profitability at most mining SOEs has been weak and most face liquidity challenges. Mining SOEs’ poor financial health is due to the combination of quasi-fiscal activity financing, poor project selection and management, and inadequate legislation and control mechanisms for new debt issuance. Legal reforms to new debt issuance and stronger Ministry of Finance oversight of SOEs are needed, in addition to stricter implementation of existing legal requirements such as collecting and disclosing complete data on SOE debt. Mongolia’s government should also review mining SOE quasi-fiscal expenditures, such as price controls on coal, and other reasons for low profitability of mines.
- Topic:
- Debt, Natural Resources, Mining, and State-Owned Enterprises
- Political Geography:
- Mongolia and Asia
3. The Cost of Debt-financed War: Public Debt and Rising Interest for Post-9/11 War Spending
- Author:
- Heidi Peltier
- Publication Date:
- 01-2020
- Content Type:
- Special Report
- Institution:
- Watson Institute for International and Public Affairs at Brown University
- Abstract:
- Throughout the 18 years the U.S. has been engaged in the “Global War on Terror,” mainly in Iraq and Afghanistan, the government has financed this war by borrowing funds rather than through alternative means such as raising taxes or issuing war bonds. Thus, the costs of the post-9/11 wars include not only the expenses incurred for operations, equipment, and personnel, but also the interest costs on this debt. Since 2001 these interest payments have been growing, resulting in more and more taxpayer dollars being wasted on interest payments rather than being channeled to more productive uses. This paper calculates that the debt incurred for $2 trillion in direct war-related spending by the Department of Defense and State Department has already resulted in cumulative interest payments of $925 billion. Even if military interventions ceased immediately, interest payments would continue to rise, and will grow further as the U.S. continues its current military operations.
- Topic:
- Debt, War, Military Spending, and 9/11
- Political Geography:
- Pakistan, Iraq, Middle East, Yemen, Syria, North America, and United States of America
4. Quarterly Review of the Georgian Economy (III Quarter, 2019)
- Author:
- Merab Kakulia, Nodar Kapanadze, and Lela Bakhtadze
- Publication Date:
- 01-2020
- Content Type:
- Special Report
- Institution:
- Georgian Foundation for Strategic International Studies -GFSIS
- Abstract:
- The Quarterly Review of the Georgian Economy is an electronic publication of the Georgian Foundation for Strategic and International Studies (Rondeli Foundation), which aims at informing readers about the ongoing processes within the country’s economy. The review is based on data of official statistics and on expert estimates.
- Topic:
- Debt, International Trade and Finance, Foreign Direct Investment, Budget, Employment, Economy, Economic Growth, Banks, and Inflation
- Political Geography:
- Eurasia, Caucasus, and Georgia
5. France and African Debt: Testing Multilateralism
- Author:
- Łukasz Maślanka
- Publication Date:
- 05-2020
- Content Type:
- Special Report
- Institution:
- The Polish Institute of International Affairs
- Abstract:
- Following an increase of COVID-19 cases in Africa, France wants to present itself as the main advocate of a humanitarian aid plan and the broadly discussed proposal of mass debt relief for the continent. In its political dimension, the move highlights the international role of France and the EU. It can also contribute to decreasing the dependence of African states on China. If it succeeds, President Emmanuel Macron can go forward with his initiative to reform the global governance system, especially the UN, and to emphasize the importance of the EU’s Southern Neighbourhood Policy.
- Topic:
- Debt, Humanitarian Aid, Multilateralism, and COVID-19
- Political Geography:
- Africa, Europe, and France
6. Economic Challenges for Belarus
- Author:
- Anna Maria Dyner
- Publication Date:
- 03-2020
- Content Type:
- Special Report
- Institution:
- The Polish Institute of International Affairs
- Abstract:
- Overdependence on cheap Russian energy resources, the COVID-19 pandemic, and a lack of reform are the biggest challenges that could lead to the collapse of the Belarusian economy. Russia may use economic problems to make Belarus more dependent on it. Poland, other EU countries and the U.S. can support the Belarusian authorities in diversifying sources of crude oil supplies, negotiations on joining the World Trade Organisation, and possible efforts to obtain a loan from the International Monetary Fund.
- Topic:
- Debt, Economy, Crisis Management, Trade, and COVID-19
- Political Geography:
- Russia, Eurasia, Poland, Belarus, and United States of America
7. Quarterly Review of the Georgian Economy ( III Quarter, 2018)
- Author:
- Merab Kakulia, Nodar Kapanadze, and Lela Bakhtadze
- Publication Date:
- 01-2019
- Content Type:
- Special Report
- Institution:
- Georgian Foundation for Strategic International Studies -GFSIS
- Abstract:
- The Quarterly Review of the Georgian Economy is an electronic publication of the Georgian Foundation for Strategic and International Studies (Rondeli Foundation), which aims at informing readers about the ongoing processes within the country’s economy. The review is based on data of official statistics and on expert estimates.
- Topic:
- Debt, International Trade and Finance, Foreign Direct Investment, Budget, Employment, Economic Growth, Banks, and Inflation
- Political Geography:
- Eurasia, Caucasus, and Georgia
8. Quarterly Review of the Georgian Economy (IV Quarter, 2018)
- Author:
- Merab Kakulia, Nodar Kapanadze, and Lela Bakhtadze
- Publication Date:
- 04-2019
- Content Type:
- Special Report
- Institution:
- Georgian Foundation for Strategic International Studies -GFSIS
- Abstract:
- The Quarterly Review of the Georgian Economy is an electronic publication of the Georgian Foundation for Strategic and International Studies (Rondeli Foundation), which aims at informing readers about the ongoing processes within the country’s economy. The review is based on data of official statistics and on expert estimates.
- Topic:
- Debt, International Trade and Finance, Foreign Direct Investment, Budget, Employment, Economic Growth, Banks, and Inflation
- Political Geography:
- Eurasia, Caucasus, and Georgia
9. Quarterly Review of the Georgian Economy (I Quarter, 2019)
- Author:
- Merab Kakulia, Nodar Kapanadze, and Lela Bakhtadze
- Publication Date:
- 07-2019
- Content Type:
- Special Report
- Institution:
- Georgian Foundation for Strategic International Studies -GFSIS
- Abstract:
- The Quarterly Review of the Georgian Economy is an electronic publication of the Georgian Foundation for Strategic and International Studies (Rondeli Foundation), which aims at informing readers about the ongoing processes within the country’s economy. The review is based on data of official statistics and on expert estimates.
- Topic:
- Debt, International Trade and Finance, Foreign Direct Investment, Budget, Employment, Economic Growth, Banks, and Inflation
- Political Geography:
- Eurasia, Caucasus, and Georgia
10. Quarterly Review of the Georgian Economy (II Quarter, 2019)
- Author:
- Merab Kakulia, Nodar Kapanadze, and Lela Bakhtadze
- Publication Date:
- 10-2019
- Content Type:
- Special Report
- Institution:
- Georgian Foundation for Strategic International Studies -GFSIS
- Abstract:
- The Quarterly Review of the Georgian Economy is an electronic publication of the Georgian Foundation for Strategic and International Studies (Rondeli Foundation), which aims at informing readers about the ongoing processes within the country’s economy. The review is based on data of official statistics and on expert estimates.
- Topic:
- Debt, International Trade and Finance, Foreign Direct Investment, Budget, Employment, Economic Growth, Banks, and Inflation
- Political Geography:
- Eurasia, Caucasus, and Georgia
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