Publication: Romania Municipal Finance Policy Note
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2008-06-03
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2014-08-19
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The policy note is organized as follows: the first section reviews the local government structure and fiscal system and discusses how it can be improved to better enable local governments to efficiently fulfill their functions. The second section then examines the state of municipal utilities. The third and the final section examines the recent evolution, opportunities and challenges ahead for the development of the sub-national debt market, analyzes key deficiencies and proposes priority reforms in the legal and regulatory framework for local government borrowing, and proposes a strategy to increase the access of sub-national entities to the sub-national debt market, based on a range of technical assistance and financial support instruments carefully attuned to sub-national entities' risk profiles.
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“World Bank. 2008. Romania Municipal Finance Policy Note. © http://hdl.handle.net/10986/19479 License: CC BY 3.0 IGO.”
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