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Cambodia: Entering a New Phase of GrowthThis month’s preferred reading is Cambodia: Entering a New Phase of Growth by Olaf Unteroberdoerster.

Cambodia is poised to join a new generation of Asian frontier economies transitioning from low-income to emerging-market. But the path to greater and more shared prosperity requires a solid foundation of sound macroeconomic policies, enabling new growth drivers, tackling a highly dollarized and fragmented financial system, and creating more fiscal policy space to help meet Cambodia's vast development needs. This book first takes a closer look at the key economic challenges Cambodia faces at the current juncture, highlighting Cambodia's structural and financial constraints to growth as well as shifting vulnerabilities as Asia rebalances. It then lays out how a strategy of fiscal and financial sector policies, from creating a fairer and more buoyant tax system to modernizing financial instruments, markets and supervision, can help mobilize the resources and tools needed for one of Asia's youngest and fastest-growing populations to enjoy more self-sustaining and inclusive growth.

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from Tengri News.. October 1, 2014 President of Kazakhstan Nursultan Nazarbayev spoke about transportation opportunities the Caspian Sea had to offer during the 4th Caspian Summit, Tengrinews correspondent reports from Astrakhan, Russia.  "I believe an important achievement of the summit today is the harmonization of the principle of free access from the Caspian Sea to other seas and the World Ocean based on universally recognized norms and principles of the international law," the President of Kazakhstan said on September
from The Cambodia Daily..BY GEORGE STYLLISSEPTEMBER 30, 2014 Cambodia's economy, a speculative and high-risk market, is likely to see a significant boost to capital injection when regional economic integration begins next year, according to a report released Monday by credit ratings agency Moody's. In March, Moody's gave Cambodia a sovereign bond rating of B2—considered speculative and a high credit risk—balancing the country's robust economic growth against low gross domestic product (GDP) per capita, a small economy and high
from Al Bawaba..September 30, 2014 The Kingdom of Saudi Arabia (KSA) could be heading for financial turmoil, potentially posting a deficit in 2015. For the Al-Saud monarchy, which depends on its massive cash reserves to quell dissent against the regime, recent warnings from the International Monetary Fund (IMF) are not to be taken lightly. Reuters reported Friday that a recent IMF report “painted the most ominous picture yet of looming financial pressures on the Kingdom.” According to the IMF, the country could
from Gulf News..By ReutersSeptember 30, 2014 Dubai: Kuwait’s government has started reducing some state subsidy payments and is in an advanced stage of preparing a plan to cut subsidies for kerosene and electricity, the International Monetary Fund said. Subsidy cuts are an important economic reform for Kuwait because lavish subsidies, mostly on energy, swallow about 5.1 billion dinars ($17.67 billion or Dh64.90 billion) annually, or roughly a quarter of the government’s projected spending this fiscal year, according
from Tengri News..September 30, 2014 The International Monetary Fund on Monday urged Zimbabwe to clarify its controversial policies that bar foreign companies from holding majority stakes in local enterprises, AFP reports. "This step will go a long way toward allaying negative perceptions on the security of investments and property rights," Domenico Fanizza, a senior official from the IMF's Africa department, said in the capital Harare. "This will encourage mutually beneficial partnerships between domestic and foreign investors." Zimbabwe's President Robert
from Monica EllenaSeptember 30, 2014 When Rusudan, a 47-year-old woman from Georgia’s western city of Zugdidi, decided to move her son from a public school to a private school seven years ago, it was not a light-hearted decision. Like many of her generation, she favors public education. Yet, despite nearly a decade of reforms, public schools in Georgia are falling short. “The conditions were simply not good enough,” Rusudan, who asked that her surname not be printed,
from Government of NigeriaSeptember 30, 2014PRESS RELEASE The World Bank's Doing Business in Nigeria 2014 Report has revealed that Nigeria has recorded significant improvements in its Doing Business Index within the last four years. The year's report is the third in a series of reports analyzing business regulations across Nigeria. The study, which benchmarked four regulatory areas such as starting a business; dealing with construction permits; registering property and enforcing contracts, also measured the progress made

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from Radio Netherlands WorldwideBy Bill OdidiSeptember 30, 2014 The 2010 constitution prevents foreigners from owning land in Kenya, but as Kenyans have come to find out, implementing these provisions is complicated by the ambiguous nature of the law and deliberate moves by the landed class to frustrate the process. When Kenya's attorney general told the International Criminal Court in July this year that there were no records to indicate that President Uhuru Kenyatta owned any land
from BBC News..September 30, 2014 The museum aims to show the evolution of the Isthmus of Panama, its flora and fauna Panama has inaugurated a museum designed by the world-renowned Canadian-born architect Frank Gehry - his first in Latin America. The Biomuseo has been built at the entrance from the Pacific ocean to the Panama Canal. It bears Gehry's trademark metallic curves and canopies, made famous by the Guggenheim Museum in Bilbao, in Spain. The museum celebrates
from The Cyprus Mail..By Marie KambasSeptember 30, 2014 THE CYPRUS branch of Transparency International, a non-governmental organisation dedicated to the fight against corruption, will launch an anti-corruption hotline on October 2. The hotline will advise people and companies on how to proceed in cases where they face corruption, the NGO’s executive director said. The anti-graft hotline, named ‘I Demand Transparency’, which will operate Tuesdays and Thursdays from 10 a.m. until 6.00 p.m. will allow users to report