CV Tarun Kanti Das for International Public Debt Management Expert 1

CURRICULUM VITAE (CV) FOR PROPOSED INTERNATIONAL EXPERT

1. Proposed Position: International Public Debt Management Expert (51060-001)

2. Name of Firm: Not Applicable

3. Name of Expert: Tarun Kanti Das

4. Current Residential Address: 10/14 First Floor, East Patel Nagar, New Delhi-110001 Telephone No.:
(+91-11) 2588-4540 Mob: (+91) 9818024569
E-Mail Address: das.tarun@hotmail.com Skype: tarun.das1947

5. Date of Birth: 19 August 1947 Citizenship: India

6. Education [Indicate college/university and other specialized education of expert, giving names of
institutions, degrees obtained, and dates of obtainment]:

Institute/ University From To Degree and Year of Major subjects

University of East Anglia,
Norwich NR4 7TJ, England, U.K.
(as Commonwealth Scholar in the U.K.)
Presidency College, University of
Calcutta, College Street, Kolkata, India
Presidency College, University of
Calcutta, College Street, Kolkata, India
Award
Sept 1974 July 1977 Ph.D. (Economics) 1977 Poverty, inequality and
demographic transition in
UK, USA, India, Sri Lanka
Sept 1967 Nov/1969 MA (Economics) 1969 Economics with Statistics,
First Class Econometrics and
Mathematical Economics
June1964 June/1967 BA Hons. (Economics) Economics with Statistics
1967, First Class First and Mathematics

7. Membership of Professional Associations:

(a) Life Member, Association of Indian Economic Service,
(b) Life Member, Indian Economic Association,
(c) Life Member, Indian Econometric Society
(d) Life Member. Indian Association for Research on Income and Wealth,
(e) Referee, Asia-Pacific Development Journal, UN-ESCAP, Bangkok,
(f) Referee, African Journal on International Marketing Management.

8. Other Trainings/ International Workshops Attended [Indicate significant training since degrees
under 5 were obtained]:
(a) Member, UNCTAD Ad Hoc Working Group on Non-Dbt Creating Financial Flows, July 1993-July 1995;
(b) Workshop on External Debt, IMF Regional Training Institute, Singapore, 21-31 March 2000.
(c) Forum on Sovereign Debt, World Bank, Washington D.C., 1-3 Nov. 1999.
(d) Workshop on Sovereign Debt, World Bank, Washington D.C., 28 Mar-4 April 2000.
(e) Visits to Public Debt Offices of England and Ireland, 16-20 October 2000.
(f) Workshop on Contingent Liabilities, World Bank, Washington D.C., 9-11 Nov 2000.
(g) Expert Group Meeting on Revised GFS, IMF, Washington, 5-9 February 2001.
(h) Investors Role for Mitigation of Financial Crisis, IMF, Washington, 5-7 Nov 2001.
(i) Workshop on Budget and the Economy, IMF Regional Training Institute, Singapore, Aug 1998.
(j) UNDP and Harvard Institute Workshop on Population Growth and Economic Development, at Dhaka,
Bangladesh, 22-26 April 1998.
(k) UNDP and UNICEF Regional Workshop on the Public Expenditure on Basic Social Services, at Bangkok,
Thailand, 30 July-3 Aug 1998.
(l) Study Team on Economic Crisis, Asian Productivity Council, Tokyo, 15-20 Dec 1998.

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 CV Tarun Kanti Das for International Public Debt Management Expert 2

9. Countries of Work Experience: [List countries where expert worked in the last 30 years]:

Country/Place Period Major Task

Sri Lanka,Colombo March 2017 to June 2017 Assessment of Transport Sector Development in Sri Lanka
Laos, Vientiane Dec 2016-Feb 2017 Project Appraisal & Economic & Social Assessment Expert
Bhutan, Thimpu Sep-Nov 2016 Debt sustainability analysis
Multi-country- Nov 2015 to April 2016 Assesment of Public Debt and Fiscal/Financial
CAREC Sustainability for power sector development in each of
Countries CAREC countries viz. Afghanistan, Azerbaijan, China,
Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Tajikistan,
Turkmenistan Uzbekistan.
UEA, Dubai May-Oct 2015 Macro-Fiscal Adviser (Macroeconomic Forecasting)
Bangladesh,Dhaka Jan 2011 to June 2014 Public Debt Management, Strategic Planning, Budgeting
Maldives, Male Dec 2010 Public Debt Management
The Gambia, Dec 2008-Nov 2010 Macro-Fiscal Modeling and Public Debt Management
Banjul (Intermittent for 20 months)
Nepal, Sep-Oct 2009, Macroeconomic Modeling for Medium Term Planning,
Kathmandu Apr-May 2010 Budgeting and Public Debt Management
May 2006 External Debt Management
Uzbekistan, Sept 2008–Nov 2008 External Debt Management
Tashkent
UK, London 15 July-31 Aug 2008 Debt Sustainability Analysis
Mongolia, Ulaan 1 June 2007-July 2008 Strategic Planning, Budgeting, Public Debt Managenent
Battar
Japan, Chiba 15-31 Aug 2007 Resource Person for Inter-Governmental Training on
Government Finance Statistics and Public Debt Statistics
Thailand, Oct 2007 Linkages of MDG with PRSP, NDP
UNESCAP, Oct 2006 Infrastructure financing in ESCAP
Bangkok Oct 2005 Development Policy for ESCAP
Oct 2004 Social Security and Provident Funds
Oct 2003 Role of SMEs for Poverty Reduction
Oct 2002 Globalisation and Industrialization
Oct 2001 Economic Survey for Asia & Pacific
Oct 2000 Economic and Financial Surveillance
Malaysia, Kuala December 2006 Role of Mergers and Acquisions for Foreign Direct
Lumpur Investment
India, Delhi Mar 2006-April 2007 Public Policy and Research Methodology
Laos, Vientiane, Feb 2006 Public Debt Management
& Cambodia,
Phom Phen
Indonesia, Jakarta Dec 2005 Act and Legal System for Public Debt Management
USA, New York Nov 2005 Financing International Co-operation Behind Borders
Samoa, Apia Sept 2005 External Debt Management
Senegal, Dakar Jan 2005 Bridging Development Research and Policy Planning
Philippines, Manila March 2003 Management of contingent liabilities
USA, Washigton Feb 2002 Member, IMF Expert Group for Government Finance
Statistics Manual 2001
India, Delhi Mar 1989 to Jan 2006 Management of Public and External Debt and Contingent
Liabilities, Formulation of Debt Management Strategy
Philippines, Two weeks in every year ADB Consultant to assist in preparation of the ADB Annual
Manila in 1990-1995, and 2000 Publication “Asian Development Outlook”
Thailand, Two weeks in every year UN-ESCAP Consultant to assist in preparation of the
Bangkok in 1991-2006 “Economic and Social Survey for Asia and Pacific”

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 CV Tarun Kanti Das for International Public Debt Management Expert 3

10. Languages [For each language indicate proficiency: good/ fair/ poor in speaking, reading, writing]:

Languages Speaking Reading Writing

English Good Good Good
Hindi Good Good Good
Bengali Good Good Good

11. Key Qualifications:

I, Tarun Kanti Das, have 25 years experience as Public Debt Management Expert in Bangladesh,
Cambodia, Dubai, Ethiopia, Gambia, India, Indonesia, Laos, Malaysia, Maldives, Mongolia, Nepal,
Philippines, Samoa, Singapore, Thailand, UK, USA and Uzbekistan covering all aspects of debt
management such as strengthening Front, Middle and Back offices for conducting R isk Analysis, Debt
Sustainability Analysis, Medium Term Debt Management Strategy and fixing benchmarks for domestic-
external debt mix and interest rate and maturity profiles of debt; reviewing laws and procedures for debt
management; strengthening money and capital markets; formulation of monetary/fiscal policies; issuance
of government securities and bonds; liquidity forecasting and cash management; identification,
measurement and management of contingent liabilities; preparing status reports on public debt; and
organizing capacity building training programs for multi-stakeholders.

I worked as Debt Management Consultant for ADB, AfDB, ComSec, IMF, UNECA, UNESCAP, UNCTAD,
UNITAR, UN-SIAP, World Bank; and as Public Financial Management Expert for macroeconomic
forecasting, medium term planning and budgeting and project appraisal.

Possess diversity in skills in research, teaching, training, policy planning, and econometric modeling.
Have many publications on debt management.

12. Employment Record [Starting with present position, list in reverse order every employment held by
expert since graduation, giving for each employment in the format below):

Period (From To) Employng Organization Position Held (Tasks)

March 2017 to Asian Development Bank, Manila,
June 2017 Philippines
Dec 2016-Feb 2017 World Bank Funded Project on
Economic Assessment of
Hydropower Projects in Lao PDR,
Ministry of Energy, Vientiane, Lao
PDR, through PWC India Pvt. Ltd.
Sep-Nov 2016 ADB Funded Project on
Sustainability of hydro power
projects of Bhutan, Ministry of
Finance, Thimpu, Bhutan; through
PWC India Pvt. Ltd.
Nov 2015 to ADB Funded Project on
April 2015 Sustainability of power projects of
Central Asia Regional Co-
operation (CAREC) Countries, viz.
Afghanistan, Azerbaijan, China,
Kazakhstan, Kyrgyz Republic,
Mongolia, Pakistan, Tajikistan,
Turkmenistan Uzbekistan. through
PWC India Pvt. Ltd.
ADB Senior Research Specialist
(Assessment of Transport Sector
Investment and Program in Sri Lanka)
World Bank Resource Person
(Project Appraisal & Economic &
Social Assessment of hydro power
projects in Lao PDR)
ADB Debt Management Adviser
(Debt sustainability analysis)
ADB Public Financial Management
Expert (Public Debt and Fiscal and
Financial Sustainability for power
sector development in each of
CAREC countries)

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 CV Tarun Kanti Das for International Public Debt Management Expert 4

Period (From To) Employng Organization Position Held (Tasks)

May-Oct 2015 Ministry of Finance, Dubai, UEA
Jan 2011 to World Bank Administered and
June 2014 Multi-Donor Funded Project on
MTBF and Strengthening Financial
Accountability, Ministry of Finance,
Govt. of Bangladesh, Dhaka.
Dec 2010 ADB Program on Strengthening
Institutional Capacity for
Macroeconomic Management,
Ministry of Finance and Treasury,
Govt. Of Maldives, Male
Dec 2008 to African Development Bank
Nov 2010 Institutional Support Project on
(Intermittent for 20 Financial and Economic Reforms,
months) Ministry of Finance and Economic
Affairs, The Gambia, Banjul, West
Africa.
Sep-Oct 2009 and ADB Program on Macroeconomic
Apr-May 2010 Management, Nepal Rastra Bank
and ADB Nepal Resident Office,
Nepal, Kathmandu
Sept 2008 to World Bank Resident Office and
Nov 2008 Minstry of Finance, Uzbekistan,
Tashkent
15 July to Commonwealth Secretariat,
31 Aug 2008 Special Advisory Services on Debt
Management, UK, England
1 June 2007 to ADB Capacity Building Project on
8 July 2008 Governance Reforms, Ministry of
Finance, Mongolia, Ulaanbaatar
Mar 2006 to Institute for Integrated Lerarning
May 2007 for Management (IILM), New Delhi,
India
Feb 2006 UNESCAP Program on Debt
Management, Ministry of Finance,
Laos PDR,Viantiane, and Govt. Of
Cambodia, Phnom Penh
Mar 1989 to Ministry of Finance, Government of
Jan 2006 India, New Delhi
Jan 1987 to Planning Commission, Govt. of
Feb 1989 India, New Delhi.
Oct 1984 to Ministry of Steel and Mines, Govt. of
Dec 1986 India, New Delhi.
Oct 1982 to Bureau of Industrial Costs and
Sep 1984 Prices, Ministry of Industry, Govt. of
India, Delhi.
May 1978 to UNDP Transport Policy Planning
Sep 1982 Project, Planning Commission, India,
Delhi.
Macro-Fiscal Policy Adviser and
Revenue Forecasting Specialist
World Bank Technical Adviser
(Public Debt Management and
Medium Term Strategic Planning
and Budgeting),
ADB Public Debt Management
Specialist
(Management of public debt, external
debt and contingent liabilities)
African Development Bank
Macroeconomic Adviser
(Macro-Fiscal Modeling and Public
Debt Management)
ADB Macroeconomic Modeling
Specialist & Team Leader (Macro-
economic forecasting for medium
term planning, budgeting and debt
management)
World Bank Consultant
(Public Debt Management)
Commonwealth Secretariat
Consultant (Debt Sustainability
Analysis)
ADB Strategic Planning Expert
(Strategic Planning and Budgeting,
and Public Debt Management)
Professor (Public policy and
Research Methodology)
UN-ESCAP Consultant (Public Debt
Management)
Economic Adviser (Public Debt
Management and Public Financial
Management Reforms)
Adviser (Modelling and Policy
Planning),
Chief Economist and Managing
Director, Economic Research Unit
Chief (Economic Division)
(Costing and pricing of public goods
and services)
Deputy Adviser (Transport
Modelling and Policy Planning)

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 CV Tarun Kanti Das for International Public Debt Management Expert
Period (From To) Employng Organization
July 1973 to Department of Economic Affairs,
April 1978 Ministry of Finance, Govt of India,
New Delhi.
Nov 1971 to Indian Economic Service, Dept of
June 1973 Pers. and Training, Govt of India,
Delhi
June 1970 to Center of Advanced studies for
Oct 1971 Economics, Presidency College,
Calcutta, India.
Other Short Term External Consultancies
15-30 Aug 2007 United Nations Statistical Institute
for Asia and Pacific (UN-SIAP),
Japan, Chiba
December 2006 Malaysian Institute for Economic
Research (MIER)Malaysia, Kula
Lumpur
May 2006 UNESCAP Program on Debt
Management, Minmistry of
Finance, Nepal, Kathmandu
Dec 2005 UNITAR Program on Public Law
and Legal System for debt
Management, Min of Finance,
Govt. of Indonesia, Jakarta
Nov 2005 Office of Development Studies,
UNDP, UN Plaza, New York, USA
Sept 2005 UNESCAP Program on Debt
Management, Ministry of Finance,
Govt. of Samoa, Apia
Jan 2005 Global Development Network,
University of Senegal, Dakar
March 2003 World Bank Resident Office and
Ministry of Finance, Govt. Of
Philippines, Manila
Feb 2002 International Monetary Fund (IMF),
USA,
Washington
Sept-Nov 1998 UN Economic Commission for Africa
(UN-ECA), Addis Ababa, Ethiopia.
Sep-Oct 1997 UN-ESCAP, Bangkok.
Sep-Oct 1995 UN-ESCAP, Bangkok, Thailand.
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5
Position Held (Tasks)
Research Officer (with leave of
absence for conducting Ph.D. as
Commonwealth Scholar at the
University of East Anglia, England,
U.K. in Sept 1974 to July 1977)
Assistant Director
Research Fellow
UN-SIAP Resource Person for
Inter-Govt. Training on Government
Finance Statistics and Public and
External Debt Statistics
MIER Consultant (Role of Mergers
and Acquisitions for FDI)
UN-ESCAP Consultant (Publicl
Debt Management)
UNITAR Consultant (Law,
Regulation and Legal System for
Debt Management)
UNDP Consultant (Financing
International Co-operation Behind
National Borders)
UN-ESCAP Consultant (Publicl
Debt Management)
GDN Consultant, Bridging
Research and Policy
World Bank Consultant
(Management of contingent
liabilities of the government)
Member, IMF Expert Group,
(Revised Government Finance
Statistics Manual)
UN-ECA Consultant
(Role of Private Sector and
Privatization in Asia and Lessons
for Africa)
UN-ESCAP Consultant
(FDI and Technology Transfer),
UN-ESCAP Consultant (Role of
Private Sector and Privatization in
Asia)
 CV Tarun Kanti Das for International Public Debt Management Expert 6

Period (From To) Employng Organization Position Held (Tasks)

May 1995 China International Centre for UN-ESCAP Consultant (Role of FDI
Economic and Technical Exchanges for Industrialization)
July 1993 and UNCTAD, Switzerland, Geneva, and Member, UNCTAD Ad-hoc Working
July 1994. Group on Non-Debt Creating
July 1995 UNCTAD, UN, New York, USA. Financial Flows
March 1993 UNDP, UN-Plaza, New York, USA. UNDP Consultant
(Human Development Index),
Two weeks every year in ADB, Manila, Philippines. ADB Consultant for preparation of the
1990-1195 and 2000 ADB Annual Publication “Asian
Development Outlook”
Two weeks every year in UN-ESCAP, Bangkok, Thailand UN-ESCAP Consultant for
1991-2006 preparation of Economic and Social
Survey for ESCAP

13. Detailed Tasks Assigned [List all tasks to be performed under this assignment]
Objective and Purpose of the Assignment
The specialist will work closely with MOF’s public debt management department to improve operations
and make practices and strategies more effective and market-development friendly. This will require
close interaction with other departments in MOF and other ADB specialists supporting money and
financial market markets reforms.
Scope of Work
The expert’s inputs are expected to contribute to the implementation of the ARM: Public Efficiency and
Financial Markets Program.
Detailed Tasks and/or Expected Output
The expert will:
a. Assess and make recommendations to support the public debt management department (PDMD) in
improving its operations and risk management (e.g. through a new Operational Risk Management
Framework [ORMF]), with a focus on:
i. developing analytical capacities for back and middle offices and Medium-Term Debt Strategy (MTDS)
process (e.g. guidelines for contracting and negotiating external loans, and for evaluating the cost-
effectiveness of alternative forms of external borrowing and guarantees [i.e. cost-at-risk analysis]),
ii. documenting procedures for debt management activities (e.g. Business Continuity Plan, ORMF
processes, clear guidelines for bond buyback and switch operations, etc), and
iii. recommending legislative and regulatory changes to improve debt management operations, including
options to centralize analysis and reporting of all existing government debt within PDMD.
b. Propose reforms in debt management practices to streamline issuance of securities to also support
money market development, as an input to the road-map for the medium-term development of capital
and financial markets in Armenia),
c. Produce an analysis, within the fiscal targets of the MTDS, of the implications (e.g. exchange-rate,
etc) of a faster repayment of foreign-currency debt financed through higher levels of domestic currency
debt issuance,
d. Make recommendations, to improve MOF’s cash management (integrated with the use of T-bills,
buybacks, and other instruments) and liquidity forecasting frameworks.
Work Undertaken that Best Illustrates Capability to Handle the Tasks Assigned
[Among the assignments in which the expert was involved, indicate the following information for those
assignments that best illustrate the expert’s capability to handle the tasks listed under 12.]
Name of assignment or project:
Year / Location: / Client:
Main project features:
Positions held:
Activities performed
Please see Following Sections

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 CV Tarun Kanti Das for International Public Debt Management Expert 7

Period (From To) Employng Organization Position Held (Tasks)

13-A. Name of assignment or project: ADB TA-9005 BHU: South Asia Subregional Economic
Cooperation Green Power Investment Program (48489-001), Contract No.: 124786-S52800, through PWC
India Limited,
Year: September 2016 to November 2016
Location: Thimpu, Bhutan
Client: Ministry of Finance, Government of Bhutan
Main Project Features: Public Debt Management for Bhutan
Position Held: Public Resource Management Specialist
Activities Performed:
 Made Macro-economic Forecasting of major macro-economic–fiscal variables for Bhutan,
 Made public debt and external debt sustainability analysis for Bhutan for financing the development of
ongoing and proposed hydropower projects in Bhutan in collaboration with the government of India
and external debt from other sources.
 Provided advice on benchmarks on interest rates, exchange rate, maturity profile and concessionality
of external debt, and maturity and interest rates for domestic debt.

13-B. Name of assignment or project: Public Financial Management and Governance Reforms
Year / Location/ Client: April 2015, and Nov 2015-June 2016, Multi-Country (India and CAREC
Countries) ADB Funded Project on Central Asia Regional Economic Co-operation, through PWC India Limited,
Main project features: Public Financial Management Reforms
Positions held: ADB Public Financial Management and Governance Reforms Expert
Activities Performed:
Prepared Medium Term Macroeconomic Forecasting and Medium Term Fiscal Framework for assessment of
Macroeconomic Stability, Fiscal Viability and Public and External Debt Sustainability Analysis for CAREC (Central
Asia Regional Economic Cooperation) Countries (viz. Afghanistan, Azerbaijan, China, Kazakhstan, Kyrgyz
Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan and Uzbekistan)

13-C. Name of assignment or project: World Bank Administered and Multi Donor (DFID, EU,
Netherlands) Funded Project on Deepening Medium Term Budgeting Framework (MTBF) and
Strengthening Financial Accountability
Year / Location: Jan 2011 to June 2014, Dhaka, Bangladesh.
Client: Ministry of Finance, and Planning Commission, Government of Bangladesh.
Main project features; Public Debt Management and Policy and Medium Term Strategic Planning
and Budgeting, Macro-Fiscal Modelling and forecasting,.
Positions held:
Technical Adviser (Management of Public Debt and Policy, Medium Term Strategic Planning and
Budgeting)
Activities performed: Performed various tasks as follow:
(a) Strengthened Front Offices, Middle Office and Back Office of Debt Management for risk
management, and preparation of bench marks on domestic debt-external debt mix, maturity and
interest rate mix for external debt and government treasury bills;
(b) Provided advice to the Ministry of Finance and Bangladesh Bank for issues of treasury bills and
bonds, buy back of bonds, liquidity forecasting methodology and cash management;
(c) Assisted Ministry of Finance and Bangladesh Bank for development of money and capital
markets having implications on debt managemnt and formulation of monetary and fiscal policies;
(a) Conducted Debt Sustainability Analysis (DSA) and prepared Medium Term Debt Management
Strategy (MTDS) in the IMF-World Bank DSA and MTDS Framework;
(d) Reviewed laws, acts, procedures and processes for debt management;
(e) Prepared Guidelines for identification, measurement and managent of contingent liabilities;
(f) Prepared Quarterly Reports on Public Debt Management;
(g) Prepared Guide Book and Manuals and prepared operational Medium Term Strategic Plans
(MTSP) and Budgets for selected line ministries;
(h) Conducted Macro-Fiscal Modeling and assistd in preparaion of Medium Term Macroeconomic

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 CV Tarun Kanti Das for International Public Debt Management Expert 8

Period (From To) Employng Organization Position Held (Tasks)

Framework, Medium Term Fiscal Strategy and Budget Strategy Papers;

(i) Prepared guidelines/ manuals on public debt management, debt sustainability analysis and
medium term debt strategy and, conducted Training for capacity building of the officers;
(j) Prepared various reports on management of public debt and contingent liabilities, macro-fiscal
modelling and forecasting, medium term planning and budgeting.

13-D.Name of assignment or project:

African Development Bank (AfDB) Institutional Support Program on Economic and Financial
Governance (ISPEFG)
Year / Location / Client: December 2008 to November 2010, Banjul, the Gambia
Ministry of Finance and Economic Affairs, Government of the Gambia, West Africa.
Main project features: Macroeconomic Modelling and Public Debt Management
Macroeconomic Adviser (Macroeconomic Modelling and Public Debt Management)
Activities performed:
(a) Conducted Macro-Fiscal Modeling and Debt Sustainability Analysis (DSA) and prepared Medium
Term Debt Management Strategy (MTDS) in the IMF-Wprld Bank DSA and MTDS Framework;
(b) Provided advice to the Front, Middle and Back Offices for preparation of bench marks on
domestic-external debt mix, maturity and interest rate mix and minimum concessionality for
external debt and maturity and interest rate profiles of government treasury bills and bonds;
(c) Provided advice to the Ministry of Finance and the Bank of Gambia for preparation of Advance
Calender for issuance of treasury bills and bonds, buy back of bonds, liquidity forecasting
methodology and cash management;
(d) Assisted Ministry of Finance and the Bank of Gambia for development of money and capital
markets for effective public debt managemnt and formulation of monetary and fiscal policies;
(e) Reviewed laws, acts, procedures and processes for debt management;
(f) Prepared Monthly Economic Bulleind and Quarterly Reports on Public Debt Management;
(g) Prepared operational Medium Term Strategic Plans and Budgets for selected line ministries;
(h) Conducted Macro-Fiscal Modeling and assistd in preparaion of Medium Term Macroeconomic
Framework, Medium Term Fiscal Strategy and Budget Strategy Papers;
(i) Prepared guidelines/ manuals on public debt management, debt sustainability analysis and
medium term debt strategy and, conducted Training for capacity building of the officers;
(j) Supported Ministry of Finance for formulation of macroeconomic policies and fiscal policies for
poverty and inequality reduction and accelerating employment and growth;
(k) Supported the Ministry of Finance for evaluation of EU funded projects and programs for
development of roads and social sectors,
(l) Provided support for preparation of Memorandum on Economic and Financial Policies (MEFP)
for IMF and Project Proposals for donors.
(m) Designed and conducted training programs on public debt management, macro-fiscal modeling.
(n) Prepared various reports on macroeconomic forecasting and debt sustainability modeling.
Annex).

13-E. Name of assignment or project:

ADB Capacity Building Project on Governance Reforms
Year / Location / Client: June 2007- July 2008, Ulaanbaatar, Mongolia.
Ministry of Finance, Government of Mongolia.
Main project features: Strategic Planning, Financial Planning, Program Budgeting
Positions held: Strategic Planning Expert
Activities performed:
(a) Prepared Guide Book and Manuals on, and prepared operational Medium Term Strategic Plans
(MTSP) and budgets for selected line ministries by linking sectoral medium term strategic plans
and budgets for line ministries with National Development Plans, MDGs, PRSPs;
(b) Provided advice to the Ministry of Finance for management of public debt and contingent
liabilities; and cash management;

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 CV Tarun Kanti Das for International Public Debt Management Expert 9

Period (From To) Employng Organization Position Held (Tasks)

(c) Provided advise to the Ministry of Finance and the Bank of Mongolia for development of capital
and money markets and issuance of government bonds and securities;
(d) Provided Support and Advice for macroeconomic modelliy and policy formulation, medium term
strategic planning for selected line ministries;
(e) Prepared Macroeconomic Framework, Outlook and Financial Plan for Budget;
(f) Supported preparation of Economic and Technical Memorandum for the donors;
(g) Designed and conducted training programs on macro-econometric and time series forecasting
and simulations models for alternative scenario building for the Mongolian economy;
(h) In October 2007 at UN-ESCAP, Bangkok, presented a Report on Inter-linkages between MDG,
PRSP and National Development Plans;
(i) At UN-SIAP, Chiba, Japan conducted a training program during August 2007 for Measurement
and Analysis of Poverty and Inequality and Govt Finance Statistics.
(j) Prepared various papers on macro-econometric modelling, strategic planning and debt
management.

13-F. Name of assignment or project: Public Financial Management Reforms

Year / Location/ Client: March 1989- January 2006, New Delhi, India
Department of Economic Affairs, Ministry of Finance, Govt of India
Main project features: Macro-Fiscal Projections and Debt Sustainability Modelling
Positions held: Economic Adviser (Macro-Fiscal Modelling and Public Debt Management)
Activities Performed:
(a) Conducted Macro-fiscal modelling, and formulation of fiscal and budgetary policies for
management of public debt, external debt and contingent liabilities;
(b) Strengthened Front Offices, Middle Office and Back Office of Debt Management for risk
management, and preparation of bench marks on domestic debt-external debt mix, maturity and
interest rate mix for external debt and government treasury bills;
(c) Provided advice to the Ministry of Finance and Reserve Bank of India for preparation of Advance
Calender for the issuance of treasury bills and bonds, Millennium Development Bonds fr Non-
Resident Indians, buy back of bonds, liquidity forecasting methodology and cash management;
(d) Assisted Ministry of Finance and Reserve Bank of India for development of money and capital for
debt managemnt and formulation of monetary and fiscal policies;
(e) Conducted Debt Sustainability Analysis (DSA) and prepared Medium Term Debt Management
Strategy (MTDS) in the IMF-World Bank DSA and MTDS Framework;
(f) Reviewed laws, acts, procedures and processes for management of public debt, external debt
and contingent liailities;
(g) Prepared report for identification, measurement and managent of contingent liabilities;
(h) Prepared Monthly Economic Bulletins and Quarterly Reports on Public Debt Management;
(i) Conducted Macro-Fiscal Modeling and assistd in preparaion of Medium Term Macroeconomic
Framework, Medium Term Fiscal Strategy and Budget Strategy Papers;
(j) Prepared guidelines/ manuals on public debt management, debt sustainability analysis and
medium term debt strategy and, conducted Training for capacity building of the officers;
(k) Prepared various reports on management of public debt and contingent liabilities, macro-fiscal
modelling and forecasting;
(l) Organised four international conferences on Public and External Debt Management and
Development of Money and Capital Markets at Delhi, Goa, Kovalumpur in India and Kathmandu
in Nepal funded by the World Bank IDF grant.
(m) Worked as short-term Consultant for the ADB, Commonwealth Secretariat, IMF, UNCTAD, UN-
ECA (UN Economic Commission for Africa), UNDP, UN-ESCAP, UNITAR, World Bank for Public
Debt Management in Cambodia, Ethiopia, the Gambia, Indonesia, Laos PDR, Malaysia, Nepal,
Samoa, Singapore, Philippines, Samoa, UK and Uzbekistan, .
(n) Worked as Country Reporter for the ADB during 1990-1995 for preparation of the Asian
Development Outlook (ADO); and Country Reporter for the ESCAP during 1991-2006 for
preparation of the ESCAP Annual Survey;

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 CV Tarun Kanti Das for International Public Debt Management Expert
Period (From To) Employng Organization
Short Term International Consultancy on Debt Management and Related Subjects
Dec 2010 ADB Program on Strengthening
Institutional Capacity for
Macroeconomic Management,
Ministry of Finance and Treasury,
Govt. Of Maldives, Male
Sept 2008 to World Bank Resident Office and
Nov 2008 Minstry of Finance, Uzbekistan,
Tashkent
15 July to Commonwealth Secretariat,
31 Aug 2008 Advisory Services on Debt
Management, England
Aug 2007 United Nations Statistical Institute for
Asia and Pacific (UN-SIAP), Japan,
Chiba
December 2006 Malaysian Institute for Economic
Research (MIER)Malaysia, Kula
Lumpur
May 2006 UNESCAP Program on Debt
Management, Minmistry of
Finance, Nepal, Kathmandu
Feb 2006 UNESCAP Program on Debt Management,
Ministry of Finance, Laos PDR,Viantiane,
and Ministry of Finance, Govt. Of
Cambodia, at Phnom Penh
Dec 2005 UNITAR Program on Public Law
and Legal System for debt
Management, Ministry of Finance,
Govt. of Indonesia, Jakarta
Nov 2005 Office of Development Studies,
UNDP, UN Plaza, New York, USA
Sept 2005 UNESCAP Program on Debt
Management, Ministry of Finance,
Govt. of Samoa, Apia
Jan-March 2003 World Bank Resident Office and
Ministry of Finance, Govt. Of
Philippines, Manila
July 1993 and UNCTAD, Switzerland, Geneva, and
July 1994.
July 1995 UNCTAD, UN, New York, USA.
10
10
Position Held (Tasks)
Public Debt Management Specialist
World Bank Consultant (External
Debt Management)
COMSEC Consultant (Debt
Sustainability Modeling and
Analysis)
Resource Person for Inter-Govt.
Training on Govt. Finance Statistics,
Public Debt and External Debt
Statistics, Monetatry Statistics, and
Balance of Payments Statistics
Consultant (Role of Mergers and
Acquisitions for FDI)
UN-ESCAP Consultant (External
Debt Management)
UN-ESCAP Consultant (External
Debt Management)
UNITAR Consultant (Law,
Regulation and Legal System for
Debt Management)
UNDP Consultant (Financing
International Co-operation Behind
National Borders)
UN-ESCAP Consultant (External
Debt Management)
World Bank Consultant
(Management of contingent
liabilities of the government)
Member, UNCTAD Ad-hoc Working
Group on Non-Debt Creating
Financial Flows
 CV Tarun Kanti Das for International Public Debt Management Expert 11

14. Certification: I, the undersigned, certify to the best of my knowledge and belief that:

(i) This CV correctly describes my qualifications and my experiences.

(ii) I am not employed by the Executing or the Implementing Agency.

(iii) I am not a close relative of a current staff member.

(iv) I am not the spouse of a current staff member.

(v) I am not a former staff member.

(vi) I was not a part of the team who wrote the terms of reference for this consulting services assignment.

(vii) I am neither sanctioned nor ineligible for engagement

I understand that any willful misstatement may lead to disqualification or dismissal, and any other ADB disciplinary
action.

Signature of expert:
Date:

07 January 2018

11
 CV Tarun Kanti Das for International Public Debt Management Expert 12

ANNEX
Selected Publications of Dr. Tarun Kanti Das
Most of the Publications are accessible in: www.scribd.com/tarundas/

1. Selected Publications on Debt Management by Tarun Das

1.1 Concept Paper on Public Debt and Design for Quarterly and Annual reports, pp.1-43, World Bank
Administered DMTBF Project, Finance Division, MOF, Govt of Bangladesh, Nov 2013.
1.2 Alternative Medium Term Debt Management Strategies for Bangladesh, pp.1-28, World Bank
Administered DMTBF Project, Finance Division, MOF, Govt of Bangladesh, Oct 2013.
1.3 Debt Sustainability Analysis for Bangladesh 2013, pp.1-25, World Bank Administered DMTBF
Project, Finance Division, MOF, Govt of Bangladesh, July 2013.
1.4 Concept Paper for Setting Up a Full Fledged Middle Office within Treasury and Debt Management
Wing,(TDMW) of the Finance Division, Ministry of Finance, pp.1-38, World Bank Administered
DMTBF Project, Finance Division, MOF, Govt of Bangladesh, May 2013.
1.5 International Best Practices for Medium Term Debt Management Strategy, pp.1-20, World Bank
Administered DMTBF Project, Finance Division, MOF, Govt of Bangladesh, Aug 2012.
1.6 External Debt Management in Maldives- Policies, Strategies, Procedures and Institutional Set Up-
An Inception Report, pp.1-54, ADB Project on Public Financial Reforms, Min of Finance and
Treasury, Maldives, Male, Dec 2010.
1.7 External Debt Management in Uzbekistan- Policies, Strategies, Procedures, Legal and Institutional
Set Up, pp.1-45, World Bank Country Office, Uzbekistan, Tashkent, November 2008.
1.8 The Gambia- Independent Debt Sustainability Analysis, pp.1-40, Commonwealth Secretariat,
London, U.K. August 2008, www.publications/thecommonwealth.org/
1.9 Management of External Debt-International Experiences and Best Practices, pp.1-46, Best
Practices Series No.9, UN Institute for Training and Research (UNITAR), Geneva, 2006.
www2.unitar.org/dfm/Resource_Center/Bestpractices/bps.9/
1.10 Governance of Public Debt- International Experiences and Best Practices, pp.1-44, Best Practices
Series No.10, UN Institute for Training and Research (UNITAR), Geneva, 2006.
www2.unitar.org/dfm/Resource_Center/Bestpractices/bps.9/
1.11 Sustainability of External Debt- Conceptual Issues, Methodology and International Best practices-
pp.1-36, UN-ESCAP, Bangkok, January 2006.
1.12 Financing International Cooperation behind National Borders- a Case Study for India, pp.1-50,
Office of Development Studies, UNDP, New York. March 2006.
1.13 Economic Situation and Management of External Debt in Nepal, pp.1-15, UN-ESCAP, Bangkok,
May 2006. www.unescap.org/pdd/debt/workshop/
1.14 Management of external debt in Nepal- legal, institutional framework and policy issues, pp.1-30,
UN-ESCAP, Bangkok, May 2006. www.unescap.org/pdd/debt/workshop/
1.15 Report on “National Workshops on Capacity Building on External Debt Management in the Era of
Globalisation” in Cambodia and Lao PDR During 20-24 February 2006, pp.1-21, UN-ESCAP,
Bangkok, May 2006. www.unescap.org/pdd/debt/workshop/
1.16 Manual on Effective Debt Management, pp.1-118, ESCAP, United Nations, Bangkok, Thailand,
2006. www.unescap.org/pdd/publications/debt-manual/
1.17 Management of external debt in Indonesia- legal, institutional framework and policy issues, pp.1-30,
Ministry of Finance, Govt of Indonesia, Dec. 2005.
1.18 Management of external debt in Samoa- legal, institutional framework and policy issues, pp.1-30,
UN-ESCAP, Bangkok, Sept 2005. www.unescap.org/pdd/debt/workshop/
1.19 Country Experiences of India, pp.141-147, part-2, External Debt Statistics - Guide for Compilers and
Users, IMF and World Bank, Washington D.C., 2003.
1.20 Off budget risks and their management, Chapter-3, Public Expenditure, and Financial Management
Review, Report No. 24256-PH, A Joint Document of The Govt of the Philippines, World Bank
and ADB, World Bank Philippines Country Office, April 30, 2003.
1.21 Management of Contingent Liabilities in Philippines- Policies, Processes, Legal Framework and
Institutions, pp.1-60, World Bank, Washington D.C., 2002.
1.22 Management of Public Debt in India, pp.85-110, in Accompanying Document to the Guidelines for
Public Debt Management, IMF, Washington, June 2002.

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 CV Tarun Kanti Das for International Public Debt Management Expert 13

1.23 External Sector Related Contingent Liability- a Case Study on India, pp.1-123, Commonwealth
Secretariat, London, U.K., Jan 2001. www.publications/thecommonwealth.org/
1.24 Sovereign Debt Management in India, pp.561-579, Sovereign Debt Management Forum:
Compilation of Presentations, World Bank, Washington, 2000.
1.25 East Asian Economic Crisis and Lessons for External Debt Management, pp.77-95, in External
Debt Management, ed. by A. Vasudevan, RBI, Mumbai, April 1999.
1.26 Fiscal Policies for Management of External Capital Flows, pp. 194-207, in Corporate External Debt
Management, edited by Jawahar Mulraj, CRISIL, Bombay, Dec 1999
1.27 Management of external debt in India and lessons for developing countries, IMF Singapore
Regional Training Institute, Singapore, Sept 1998.
1.28 Macro-economic Framework and Non-Debt Creating Financial Flows- A Case Study on India, the
Working Group on Non-Debt Creating Financial Flows, pp.1-75, TD/B/WG.1/Misc.3/ Add.3,
UNCTAD, Geneva, Switzerland, 1993.

2. Macroeconomic Modeling and Medium Term Strategic Planning and Budgeting

A. Consultancy Reports

2.1 Macro-Fiscal Models for Assessment of Macroeconomic Stability, Fiscal Viability and Debt
Sustainability of CAREC Countries, pp.1-125, ADB Funded Project on Central Asia Regional
Economic Cooperation, February 2016.
2.2 Alternative revenue projections for Dubai by different forecasing models such as Secular growth,
GDP Bouyancy and Elasticity, and Revenue Drivers Basd Models, pp.1-60, Ministry of Finance,
Government of Dubai, Dubai, UAE, September 2015.
2.3 Public investment Management in Bangladesh, pp.45, World Bank Administered and Multi-Donor
(DFID, EU, Netherlands) Funded Project on DMTBF, MOF, Bangladesh, Dhaka, July 2012.
2.4 Project execution, M&E, and development budget, PP.1-25, World Bank Administered and Multi-
Donor (DFID, EU, Netherlands) Funded Project on DMTBF, MOF, Bangladesh, Dhaka,
2.5 Institutional arrangements for preparation of Annual Development Plan, pp.1-45, World Bank
Administered and Multi-Donor (DFID, EU, Netherlands) Funded Project on DMTBF, Ministry of
Finance, Bangladesh, Dhaka, Jan 2012.
2.6 An operational consistent macroeconomic accounting spreadsheet model for Bangladesh- analytical
framework, model structure, data base, test and calibration techniques and base line medium and
long term projections, pp.1-96, World Bank Administered and Multi-Donor (DFID, EU,
Netherlands) Funded Project on DMTBF, MOF, Bangladesh, Dhaka, 20 May 2014.
2.7 An Operational Guide to Prepare Medium Term Strategic Business Plans (MTSBP) for Line
Ministries/ Divisions, pp.1-38, World Bank Administered and Multi-Donor (DFID, EU, Netherlands)
Funded Project on DMTBF, Ministry of Finance, Bangladesh, Dhaka, January 15, 2012.
2.8 Diagnostic Study on Business Process Review and Training Needs Assessment of the Planning
Wings of the Budgetary Agencies for Public Investment Management and Integrating Planning with
Budgeting in Medium Term Budgeting Framework, pp.1-98, Multi-Donor project on DMTBF,
Ministry of Finance, Bangladesh, Dhaka, April 2011.
2.9 An Operational Macro-econometric Model and a Dynamic Stochastic General Equilibrium Model for
Nepal- Model Structures, Data Base, Test and Calibration Techniques, Part-1: 60 pages and Part-2:
65 pages, ADB Resident Office in Kathmandu & Nepal Rastra Bank, Kathmandu, Oct 2009.
2.10 An Operational Consistent Macroeconomic Forecasting Model for Gambia- Basic Concepts, Data
Base, Calibration Techniques and Projections, pp.1-71, African Development Bank ISPEFG, the
Gambia, Banjul, 31 January 2009.
2.11 Trends and projections of sectoral GDP growth rates for Gambia during 1998-2013 and some policy
issues, AfDB ISPEFG, pp.1-18, 28 Feb 2009.
2.12 Program Assessment Rating Tool (PART) - Basic Concepts, Methodology and Applications for
Mongolia, pp.1-50, ADB Capacity Building Project on Governance Reforms (ADB-CBPGR),
Ministry of Finance (MOF), Govt of Mongolia, July 2008.
2.13 An Introduction to Program Budgeting and Program Evaluation Review Technique (PERT), pp.1-36,
ADB-CBPGR, MOF, Mongolia, June 2008

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 CV Tarun Kanti Das for International Public Debt Management Expert 14

2.14 Budget Performance Evaluation- Methodology, Systems and Management, pp.1-55, ADB-CBPGR,
MOF, Gov. of Mongolia, May 2008.
2.15 Performance Based Budgeting- Methodology, Systems and Management, pp.1-55, ADB-CBPGR,
MOF, Gov. of Mongolia, March 2008.
2.16 Financial Planning- Part-1: Methodology, pp.1-34, Part-2: Policies, pp.1-32, ADB-CBGGR, MOF,
Gov. Of Mongolia, January 2008.
2.17 Preparation of Strategic Business Plans- Structural Framework and Guidelines to Line Ministries,
pp.1-74, ADB-CBPGR, Mongolia, Sep 2007.
2.18 Official Economic statistics- Part-1 on Government Finance Statistics (GFS) and Balance of
Payments (BOP) Statistics, pp.1-70, Part-2 on Monetary and Financial statistics (MFS) and Multi–
Factor Productivity Measures (MFP), UN-SIAP, Chiba, Japan, Aug 2007.

B. Published Papers in International Journals and Government Reports

2.19 Trends and projections of rail and road goods and passenger traffic in India, pp.105-161, in
Transport Planning and Development, ed. V Mahajan, Deep & Deep, Delhi, 1991.
2.20 Monitoring and Projecting Budget Deficits of the Government – A Technical Note, Ministry of
Finance, pp.1-21, August 1990.
2.21 Multisectoral and multiregional transport model for India–database and calibration techniques,
pp.391-403, Environment and Planning, 15-A, 1983.
2.22 Application of shift and share technique for forecasting regional and sectoral growth in India in the
Sixth Plan, pp.187-200, Indian Journal of Regional Science, 13(2), 1981.

3. Macro Stabilization Policies and Structural Reforms

A. Books and Research Reports Published by Donors

3.1 Interlinkages between development research, policy planning and outcome in the post reforms
period in India and analytical lessons for other developing countries, jointly with Arvind Virmani,
pp.1-115, East Asian Bureau for Economic Research (EABER), Australia, April 2008.
3.2 Financing International Cooperation behind National Borders- a Case Study for India, pp.1-46, Off.
of Dev.Studies, UNDP, New York. March 2006.
3.3 Public-Private Partnership for financing infrastructure in Asian economies- Scope, Progress, Issues
and Perspectives, pp.-1-30, UN-ESCAP, Bangkok, Dec 2005.
3.4 General Agreement on Trade in Services– Implications for the Indian financial sector, pp.6-14, Bima
Vidya, Management Development Centre, Mumbai, July 2003.
3.5 An assessment of the financial sector liberalization in India in the context of its commitment to the
WTO, pp.1-50, Indian Council for Research on International Economic Relations (ICRIER),
New Delhi, June 2003.
3.6 Economic Reforms in India- Rationale, Scope, Progress and Unfinished Agenda, pp.1-80, Bank of
Maharashtra, Pune, February 2003.
3.7 Preparation of Indices for Services Production, pp.1-250, National Institute for Banking and
Management, Pune, India, Jan 2003.
3.8 Implications of Globalization on Industrial Diversification in Asia, pp.ix+1-86, UN ESCAP, Bangkok,
UN Pub.Sales No.E.02.II.F.52, December 2001.
3.9 Social Security System in India – Needs and Policy Issues, pp.1-40, ESCAP, United Nations,
Bangkok, December 1999.
3.10 Role of private sector including Privatization in Asian Countries and Lessons for Africa, pp.1-110,
UN-ECA, Addis Ababa, Ethiopia, Oct. 1998.
3.11 Foreign Investment- Technology Transfer- and Growth Nexus in Asian Economies, pp.1-158,
ESCAP, United Nations, Bangkok, Oct 1997.
3.12 Policies and Strategies for Promoting the Role of the Private Sector and Privatization in Industrial
and Technological Development in Asian Economies, pp.1-171, ST/ESCAP/1696, UN, NY, 1996.
3.13 Reforms & Liberalization of the Financial Sector in India- Organizational Structure, Needs and
Policy Issues, pp.1-40, UN-ESCAP, Bangkok, 1995.
3.14 Macro-economic Framework and Foreign Investment in India, WG on Investment and Financial
Flows, pp.1-75, TD/B/WG.1/Misc.3/ Add.3, UNCTAD, 1993.

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 CV Tarun Kanti Das for International Public Debt Management Expert 15

3.15 Structural Reforms and Stabilization Policies in India – Rationale and Medium Term Outlook, pp.20-
56, in Economic Liberalization and its Impact, ed. by SP Gupta, Macmillan India Ltd., Delhi, 1993.
3.16 Pricing, productivity & competitiveness of Indian Steel industry, pp.269-292, Indian Industrialization,
ed. Arun Ghosh, Oxf. Unv.Press, Delhi, 1992.

4. MDGs, PRSP, Poverty and Inequality Analysis

A. Published Consultancy Reports by Donors and Research Papers in International Journals

4.1 Interlinkages between UN Millennium Development Goals (MDGs), National Development Plans
and Poverty Reduction Growth Strategy - Selected Country Experiences from ESCAP, Part-1,
pp.1-84, Part-2, pp.1-78, ESCAP, United Nations, Bangkok, October 2007.
4.2 Role of Agro-based and Resource-Based SMEs for Export Promotion and Poverty Alleviation in
ESCAP countries, pp.1-126, UN ESCAP, Bangkok, January 2003.
4.3 Impact of Pro-Market Reforms on the Poor in India- an Assessment and Lessons for Policy
Makers, pp.1-40, GDN, June 2003.
4.4 Promoting resource-based export-oriented SMEs in Asia and the Pacific, pp.33-76, Investment
Promotion and Enterprise Development Bulletin for Asia and the Pacific, ESCAP, United
Nations, Bangkok, Sept 2003.
4.5 Poverty and inequality in India–Trends and policy issues, pp.1-30, ESCAP, Bangkok, Oct. 2002.
4.6 Poverty and Environment- How to break the vicious circle? Pp.39-46, Souvenir of the Global
Society for Protection of Human Rights, Delhi, Jan 2000.
4.7 UNDP Human Development Index – Some Methodological Issues and Alternative Measures,
pp.1-30, UNDP, UN Plaza, New York, March 1993.

B. Published Research Papers in International Journals

4.8 Inequality index with differences in inequality aversion for groups, Rivista Internazionale di
Scienze Economiche e Commercialli (Milan, Italy), 1983.
4.9 Decompositions of inequality measures and a comparative analysis, jointly with Prof. A. Parikh,
pp.23-48, Empirical Economics (Vienna, Austria), vol.7, 1982.
4.10 Statistical interpretation and decomposition of Atkinson’s inequality index, jointly with Prof. A.
Parikh, pp.13-18, Rivista di Mathematica per le Scienze Economiche e Socoali (Milan, Italy),
15(1), 1982.
4.11 Decompositions of Atkinson’s measure of inequality, jointly with Prof. Ashok Parikh, pp.171-178,
Australian Economic Papers, vol.20 (36), June 1981.
4.12 Choice of demographic units in analyzing the size distribution on income, pp.20-29, Journal of
Income and Wealth, 3 (1), 1978.

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