: Economic Reforms Sample Clauses

: Economic Reforms. The Parties agree to the necessity for reliable and effective good governance mechanisms at all levels and in all fields, including the certification, exploitation, assessment and control of natural resources.

: Economic Reforms. Burundi has received a large volume of assistance from the international community in the context of its structural adjustment programme, which seeks primarily to help the Government reduce the role of the State in the economy, increase domestic savings, and reduce Burundi's dependence on external sources of assistance. In the area of budgetary policy, current operations ought to yield a greater surplus, and the overall budget deficit should be brought down to a level that will allow the State to improve its position vis-à-vis the banking system while increasing credit to the private sector. In the wake of the crisis which began on 21 October 1993, the economy collapsed, inflation accelerated, domestic savings remained negative, public investment declined significantly, and budgetary disequilibria reached unsustainable levels. Many of the accomplishments of the long adjustment period, such as the liberalization of currency regulations and the lowering of taxes, were lost. Some major reforms could no longer be pursued at the same pace, including the reform of public enterprises, liberalization of the coffee sector, promotion of coffee planters' associations and the development of areas other than coffee and tea.