Poverty Reduction Strategy Paper (PRSP)

PRSPOVERVIEW:The World Bank and International Monetary Fund (IMF) launched the discretion of Poverty Reduction Strategy Paper (PRSP) in the f every of 1999. It provides a framework that integrates nationally owned distress decrease strategies in low-income countries. These strategies argon expected to be:·Country-driven. ·Results-oriented. ·Comprehensive. · absorb a long-term positioning. ·Should foster domestic and external partnerships. The PRSP was ab initio aimed to tie in the debt lessening of Heavily Indebted myopic Countries (HIPC), with a country-defined poverty reduction strategy. PRINCIPLESThe principles at the root of PRSP are as follows: ownership:Poverty reduction strategies essential(prenominal) be country-driven, with a broad- found companionship of civic society and private heavens at all stages. The recipient government should be starring(p) the program and must be held responsible for accounting the transit. Result-orientation:This is found on in-depth digest of poverty; the strategies must identify the desired solutions and the ways to micturate them. They should be translated into process and outcome Indicators. extensiveness and long-term perspective:All the policies and Analysis must borrow account of the third-dimensional nature of poverty and long timeframes required to reduce poverty. Prioritization:Priorities must be chosen in prepare to design operable policies and to adequately fund them.

Partnership:The process is to be based on dialogue and partnership amongst the government and civil society as well as the donor participation implementin g good donor coordination. This allows reduc! ed execution costs and more(prenominal) efficient aid. The process proceeds by an initial in-depth and house-to-house analysis of the country?s poverty and its determinants. This helps in conceiving a prioritized mix of strategies that have the highest impact on poverty reduction that can be tracked through mention outcome indicators. The PRSP should be prepared every three years, with lawful observe and reporting on progress and annual update of the strategies. The get starts with designing an Interim PRSP (I-PRSP). I-PRSP is necessary... If you want to get a dear essay, order it on our website: OrderCustomPaper.com

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