Bolivia - Poverty reduction strategy paper (PRSP) and joint IDA/IMF staff assessment
Nair, Govindan G.
This Poverty Reduction Strategy Paper (PRSP), represents a further step by the Government of Bolivia, in continuing its efforts to reduce poverty, through sustainable growth, and policy actions targeted to the poor. It emphasizes its focus on a deep fiscal decentralization, on the commitment to develop mechanisms of social monitoring, on the integration of sectoral policies for poverty reduction in a macroeconomic framework, and, on participatory processes involving dialogues at the local, municipal, and national levels on socioeconomic issues. The PRSP provides a comprehensive poverty diagnosis, assessing trends in income poverty, and basic needs, to further determine the nature of poverty, and impact of past policies on poverty. The joint assessment suggests that the poverty reduction strategy targets, through ambitious, are achievable, forging closer links between policy actions, regardless of the fact that final targets remain a task to be pursued in the implementation of the strategy. But, the proposed system of indicators appears weak, seemingly not at par with identified priority actions. Likewise, governance, and public sector management weaknesses are a major constraint in achieving the PRSP's objectives. Additionally, it is considered that the strategy is subject to significant risks, namely, the continued social unrest, corruption, political instability, and weak institutional capacity at local levels. Conclusions indicate the PRSP presents a credible poverty reduction strategy, and provides sound basis for concessional assistance, and for reaching the completion point under the Enhanced Highly Indebted Poor Countries Initiative.
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