Millennium Challenge Corporation: Projected Impact of Vanuatu Compact Is Overstated Metadata

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Title

  • Main Title Millennium Challenge Corporation: Projected Impact of Vanuatu Compact Is Overstated

Creator

  • Author: United States. Government Accountability Office.
    Creator Type: Organization

Publisher

  • Name: United States. Government Accountability Office.
    Place of Publication: Washington D.C.

Date

  • Creation: 2007-07-26

Language

  • English

Description

  • Content Description: Testimony issued by the Government Accountability Office with an abstract that begins "In January 2004, Congress established the Millennium Challenge Corporation (MCC) for foreign assistance. Congress has appropriated almost $6 billion to MCC. As of March 2007, MCC had signed almost $3 billion in compacts with 11 countries, including a 5-year, $65.7 million compact with Vanuatu. MCC states that the Vanuatu compact will have a transformational effect on the country's economy, increasing per capita income and GDP and benefiting 65,000 poor, rural people. This testimony summarizes a July 2007 report (GAO-07-909) examining (1) MCC's methods of projecting economic benefits, (2) MCC's portrayal and analysis of the projected benefits, and (3) risks that may affect the compact's impact. To address these objectives, GAO reviewed MCC's analyses and met with officials and business owners in Vanuatu as well as with other donors. In its July 2007 report, GAO recommended that the Chief Executive Officer of MCC revise the public reporting of the Vanuatu compact's projected impact; assess whether similar reporting in other compacts accurately reflects underlying analyses; and improve its economic analyses by more fully accounting for risks to project benefits. MCC did not directly address GAO's recommendations but commented that it had not intended to make misleading statements and that its portrayal of projected results was factual and consistent with underlying data."

Subject

  • Library of Congress Subject Headings: Government accountability -- United States.
  • Keyword: international affairs
  • Keyword: millennium challenge corporation
  • Keyword: testimony

Coverage

  • Place Name: United States

Collection

  • Name: Government Accountability Office Reports
    Code: GAORT

Institution

  • Name: UNT Libraries Government Documents Department
    Code: UNTGD

Rights

  • Rights License: pd

Resource Type

  • Text

Format

  • Text

Identifier

  • Report No.: GAO-07-1122T
  • Accession or Local Control No: 117517
  • URL: http://gao.gov/products/GAO-07-1122T
  • Archival Resource Key: ark:/67531/metadc295142