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Public debt is in the large majority of countries one of the most important budget expenditures, and very often the largest one. Democratic government requires that public debt and its medium- and long-term effects be made transparent. This is necessary to help ensure accountability and facilitate a better-informed public debate.
Transparency in public finance is a constant preoccupation of modern administrations and citizenries, as the publicity of public expenditure and borrowing, the uniformisation of national accounts, citizen participation in government decisionmaking, and the introduction of various forms of control of government activity have become the rule rather than the exception in all geographies.
Despite their endowment of natural wealth, resource-rich developing countries among the poorest, low democratic and most conflict-ridden countries of the world.
This UNITAR online course aims at developing awareness and understanding of organizations which operate internationally as well as regionally in dealing with finance and debt management issues.
The derivative markets are the financial markets for derivatives, financial instruments like futures contracts or options, which are derived from other forms of assets. The market can be divided into two, that for exchange traded derivatives and that for over-the-counter derivatives.
A capital market is a market for securities (debt or equity), where governments and business enterprises (companies) can raise long-term funds. It is defined as a market in which money is provided for periods longer than a year, as the raising of short-term funds takes place on other markets (e.g., the money market).
The global financial crises has brought to the fore the pertinence of corporate governance issues across industrialized, emerging and developing economies alike. Corporations play a valuable role in our communities and in nations around the world. Good Corporate Governance is a union between the financial and personal success of a corporation.
The transactions carried out by the government of a country with the individuals or industrial, commercial or business organizations, domestic or international, for the purposes of sale, purchase, construction, acquisition of service, disposal of obsolete goods, etc., are called public contracts.
The equity market is a prominent member of the capital market and encapsulates the mechanisms and conventions that exist for the issuance of, investing in, and the trading of marketable equity instruments that represent the permanent or semi-permanent capital of the issuers (companies). The equity market plays a significant role in the economy.
This course is designed for government officials, development consultants and practitioners, students of development, and those who have keen interest in governance and financial management. Nowadays, effective public financial management is considered critical in combating corruption, alleviating poverty, and ensuring the effective use of internal and external resources.