Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-517-750"
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"en.20110705.34.2-517-750"2
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"The policy to which the EU is committed aims to make our partner countries the agents of their own development, hence the notions of partnership, political dialogue and ownership by partner countries of their own development. Budget support is a response to the latter type of relationship. It concerns the transfer of financial resources from an external funding agency to the coffers of the partner country, provided the latter meets the agreed payment conditions. At first sight, budget support may appear to be a risky undertaking. However, that is not the case, if the necessary precautions are taken to ensure that the funds are used efficiently. The fact that the International Monetary Fund (IMF) must give its consent to each and every disbursement further limits the scope for abuse. All disbursements presuppose appropriate capacity in the field of public finance management of the recipient country, which must also have a strategy in place for combating poverty. The countries concerned are called upon to promote their capacity for dialogue with civil society and parliaments. Finally, closer control over public finances on the part of recipients of budgetary support may have a beneficial impact on the capacity of their tax system to bring in additional revenue."@en1
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