United States public debt

des défaillances. La déréglementation mal maîtrisée, la permissivité et l’indulgence des superviseurs, la capture des régulateurs qui se font les défenseurs des intérêts des régulés, le risque moral consécutif à des sauvetages inopportuns sur argent public… tous ces facteurs ont accentué les désordres de marché et l’instabilité financière. Ainsi, la faillite de la Penn Central Railroad Co a inauguré aux États-Unis en 1970 le retour des crises financières et a conduit à l’effondrement du marché du

hailstorm? The Western Highlands of Kenya, in Africa. In terms of annual average, Kericho, Kenya, has more hail than anywhere else on earth, with hail falling on 132 days each year. By comparison, the United Kingdom averages only 15 hail days in a year and the worst affected area in the United States, the eastern Rockies, experiences an average of 45 hail days a year. What causes the abundance of hail is not fully understood. Kericho is the home of Kenya’s tea plantations, and a 1978 study showed

CEMAFI Centre d'Etudes en Macroéconomie et Finance Internationale PROJET FEM22-26 Analyse des investissements publics porteurs de croissance (« capacity building public investments ») et les difficultés de leur financement Etude des cas de cinq pays méditerranéens partenaires de l’Union Européenne1: Maroc, Tunisie, Turquie, Egypte, Liban Rapport final du projet de recherche FEM22-26 Claude BERTHOMIEU, Fabienne BONETTO (CEMAFI. Nice)2 berthomi@unice.fr ; bonetto@unice.fr Le cas d’Israël

financial statements états financiers audités auditing standards normes d’audit auditor auditeur automated clearinghouse chambre de compensation automatisée automated clearinghouse (ACH) chambre de compensation automatisée average cost of debt coût moyen de la dette Equivalent: average cost of funds. average cost of funds coût moyen de la dette, coût moyen des ressources average loan size taille moyenne des prêts average loan term durée moyenne de prêt average outstanding balance

Business Community Million d'Euros Million de Dollar United States Organisation Internationale du Travail Organisation Mondiale du Commerce Produit Intérieur Brut Petites et Moyennes Entreprises Petites et Moyennes Industries Produit National Brut Programme des Nations Unies pour le Développement Southern African of Development Community Technologie de l'Information et de la Communication Union Européenne United Nations for Development Program United States Dollar World Bank Zones Franches d'Exportation

violent processes of COIN. Accounts disclosing detention camps in Guantanamo (a North American enclave in Cuba) and Bagram (Air Force base, North of Kabul), revealing abuses committed by US guards in the Iraqi Abu Ghraib prison deeply shook Western public opinions and enhanced an anti-Western feeling throughout the Arab World. Since 2006, the phrase “Global war on terror” assimilated to the action of the Bush administration after September 11, 2001 terrorist attacks, turns out to be less and less relevant

Product as it reached $4.911 trillion in 2006 and it is ranked third in terms of GDP by power purchasing parity with a GDP reaching 4,2 trillion in 2006. This represents around 33, 000 per capita. (12th). The GDP growth rate is 2.8%. o The public debt raises 176.2% of the GDP in 2006. o The labor force gathers 66.44 million people and is divided as follows[3]: agriculture: 4.6% industry: 27.8% services: 67.7% o The unemployment rate is rather low: It reaches 4.1 %

2 FEMISE RESEARCH PROGRAMME 2004-2005 Analyse des investissements publics de croissance (capacity building public investments) et les difficultés de leur financement. Etude des cas pour six pays partenaires méditerranéens : Maroc, Tunisie, Turquie, Egypte, Israël, Liban Research n°FEM22-26 Directed By Claude Berthomieu, CEMAFI université de Nice, France In collaboration with: GEMF, Faculdade de Economia da Universidade de Coimbra, Portugal Réseau Monnaie - Finance - Banque

like to thank the British Council for their generous scholarship. I would also like to thank David Hulme my supervisor for his constant support and encouragement. Finally I would to thank my mother for numerous childhood trips to the Johannesburg Public Library without which I would not have been able to read for this degree. 2 The limits of micro credit as a rural development intervention Table of Contents OVERVIEW 5 SUMMARY 6 CHAPTER 1 - INTRODUCTION 7 B ACKGROUND DEFINITIONS

Sierra Leone Singapore Slovak Republic Slovenia Solomon Islands South Africa Spain Sri Lanka Suriname Swaziland Sweden Switzerland Chinese Taipei Tanzania Thailand Togo Tonga Trinidad and Tobago Tunisia Turkey Uganda Ukraine United Arab Emirates United Kingdom United States of America Uruguay Venezuela (Bolivarian Republic of) Viet Nam Zambia Zimbabwe This report is also available in French and Spanish To order, please contact: WTO Publications World Trade Organization 154, rue de Lausanne CH-1211