In public finance, it no longer suffices for analysts and institutions to focus solely on budget revenues and expenditures. Recent history demonstrates that fiscal performance and, in turn, economic development can be seriously disrupted by the sudden, unexpected costs of hidden contingent liabilities and other unanticipated fiscal risks. During the second half of the 1990s, unreported contingent liabilities and related fiscal risks contributed to economic crises and disrupted growth in a number of developing countries, motivating stepped-up efforts world over to devise new concepts and tools for analysing and managing public finance. In recent times, Zambia has not been spared. Discuss at the explicit and implicit contingent liabilities that have occurred over the last three decades in Zambia?
In public finance, it no longer suffices for analysts and institutions to focus solely on budget revenues and expenditures. Recent history demonstrates that fiscal performance and, in turn, economic development can be seriously disrupted by the sudden, unexpected costs of hidden
Discuss at the explicit and implicit contingent liabilities that have occurred over the last three decades in Zambia?
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