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IMF Policies and Practices on Capacity Development

New
IMF Policies and Practices on Capacity Development »

Volume: 19

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 November 2019

DOI: http://dx.doi.org/10.5089/9781513520322.007

ISBN: 9781513520322

Keywords: External financing, Fund policies, Fund role, Lapse of time approval, Technical Assistance, Public financial management, Economic stabilization, Financial crises, Financial crisis, Financial statistics

This statement summarizes the IMF's policies and practices with regard to the delivery of capacity development (CD) activities. It updates the 2014 Statement on IMF Policies and Practices on Capacity Development an...

Implementation Plan In Response To The Executive Board-Endorsed Recommendations From The IEO Evaluation Of The IMF's Financial Surveillance

New
Implementation Plan In Response To The Executive Board-Endorsed Recommendations From The IEO Evaluation Of The IMF's Financial Surveillance »

Volume: 19

Series: Policy Papers

Author(s): International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 October 2019

DOI: http://dx.doi.org/10.5089/9781513518732.007

ISBN: 9781513518732

Keywords: Real sector, Financial systems, Macroprudential policies and financial stability, Financial crises, Financial sector development, PP, proposed action, IEO, article IV consultation, article IV

The actions in this Management Implementation Plan aim at: Strengthening financial and macrofinancial analysis in Article IV consultations Refocusing FSAP country selection and scope Increasing traction of...

Statement by the Managing Director on the Independent Evaluation Office Report on the IMF Financial Surveillance

Statement by the Managing Director on the Independent Evaluation Office Report on the IMF Financial Surveillance »

Volume: 19

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 January 2019

DOI: http://dx.doi.org/10.5089/9781513510217.007

ISBN: 9781513510217

Keywords: Global Financial Stability Risks, Macroprudential policies and financial stability, Financial crises, Financial systems, Financial analysis, article IV consultation, IEO, article IV, IMF, financial skill

Statement by the Managing Director on the Independent Evaluation Office Report on the IMF Financial Surveillance...

Statement by the Managing Director on the Independent Evaluation Office Report on Governance of the IMF

Statement by the Managing Director on the Independent Evaluation Office Report on Governance of the IMF »

Volume/Issue: 2018/045

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 September 2018

DOI: http://dx.doi.org/10.5089/9781498309660.007

ISBN: 9781498309660

Keywords: Governance, IMF Structure and Governance, Press Release - Independent Evaluation Office, Risk management, Stocks, Emerging markets, Financial crises, Goods, IEO, accountability

I would like to thank the Independent Evaluation Office (IEO) for preparing this informative update on the 2008 report on governance of the IMF. It is reassuring that the Update recognizes the significant progress...

Adequacy of the Global Financial Safety Net-Considerations for Fund Toolkit Reform

Adequacy of the Global Financial Safety Net-Considerations for Fund Toolkit Reform »

Volume/Issue: 2017/070

Series: Policy Papers

Author(s): International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Finance Dept.;International Monetary Fund. Legal Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 December 2017

DOI: http://dx.doi.org/10.5089/9781498346160.007

ISBN: 9781498346160

Keywords: Financial crises, Financial safety nets, Balance of payments need, Central banks, Balance of payments assistance, FCL, PLL, toolkit, qualification criterion, conditionality

liquidity in the face of increased vulnerabilities calls for enhancing the liquidity support provided through the global financial safety net (GFSN). The global economy is experiencing a period of protracted uncert...

Adequacy of the Global Financial Safety Net-Review of the Flexible Credit Line and Precautionary and Liquidity Line, and Proposals for Toolkit Reform

Adequacy of the Global Financial Safety Net-Review of the Flexible Credit Line and Precautionary and Liquidity Line, and Proposals for Toolkit Reform »

Volume/Issue: 2017/069

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 December 2017

DOI: http://dx.doi.org/10.5089/9781498346139.007

ISBN: 9781498346139

Keywords: Financial safety nets, Forward commitment capacity, Financial crises, Repurchase obligations, International capital market volatility, PP, FCL, SLS, PLL, access level

protracted global uncertainty combined with frequent episodes of capital flow volatility have intensified demand for liquidity support. In response to calls from the IMFC and the G20, the Fund has identified gaps i...

Gulf Cooperation Council
			:  Strengthening Liquidity Management Frameworks in Support of Stability and Growth in the GCC

Gulf Cooperation Council : Strengthening Liquidity Management Frameworks in Support of Stability and Growth in the GCC »

Volume/Issue: 2017/064

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 December 2017

DOI: http://dx.doi.org/10.5089/9781498346207.007

ISBN: 9781498346207

Keywords: Central banks, Central bank operations, Financial crises, Central bank capital, Financial markets, interbank, GCC country, GCC, excess reserve, reserve requirement

Effective liquidity management is important to promote macro-financial stability in the GCC countries. Fixed exchange rate regimes provide credible nominal anchors in the GCC countries, but combined with open capit...

A Window of Opportunity
			:  The Managing Director's Global Policy Agenda

A Window of Opportunity : The Managing Director's Global Policy Agenda »

Volume/Issue: 2017/063

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 December 2017

DOI: http://dx.doi.org/10.5089/9781498346313.007

ISBN: 9781498346313

Keywords: Economic integration, Financial crises, Economic reforms, Economic policy, External sector assessment, medium-term, policy advice, resilience, productivity growth, technological progress

The global recovery continues. Although it is not yet complete, the more favorable conjuncture offers an opportunity to tackle key policy challenges to stave off medium-term downside risks, rebuild buffers, and rai...

Progress Report to the IMFC on the Activities of the Independent Evaluation Office of the IMF

Progress Report to the IMFC on the Activities of the Independent Evaluation Office of the IMF »

Volume/Issue: 2017/055

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 October 2017

DOI: http://dx.doi.org/10.5089/9781498346344.007

ISBN: 9781498346344

Keywords: Social safety nets, Exchange rate policy, Central banks, Civil society, Financial crises, social protection, IEO, IMF, evaluation, fragile state

Since the April 2017 report to the IMFC, the IEO has completed its evaluation on social protection, continued work on evaluations on fragile states and financial surveillance, initiated a new evaluation on advice o...

Increasing Resilience to Large and Volatile Capital Flows
			:  The Role of Macroprudential Policies - Case Studies

Increasing Resilience to Large and Volatile Capital Flows : The Role of Macroprudential Policies - Case Studies »

Volume/Issue: 2017/051

Series: Policy Papers

Author(s): International Monetary Fund. Asia and Pacific Dept;International Monetary Fund. Western Hemisphere Dept.;International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 September 2017

DOI: http://dx.doi.org/10.5089/9781498346405.007

ISBN: 9781498346405

Keywords: Financial regulation and supervision, Financial crises, Real sector, Financial markets, Macroprudential policies and financial stability, capital inflow, article IV consultation, capital flow, reserve requirement, inflow

...

Increasing Resilience to Large and Volatile Capital Flows
			:  The Role of Macroprudential Policies - Case Studies

Increasing Resilience to Large and Volatile Capital Flows : The Role of Macroprudential Policies - Case Studies »

Volume/Issue: 2017/051

Series: Policy Papers

Author(s): International Monetary Fund. Asia and Pacific Dept;International Monetary Fund. Western Hemisphere Dept.;International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 September 2017

DOI: http://dx.doi.org/10.5089/9781498346405.007

ISBN: 9781498346405

Keywords: Financial regulation and supervision, Financial crises, Real sector, Financial markets, Macroprudential policies and financial stability, capital inflow, article IV consultation, capital flow, reserve requirement, inflow

...

Scope and Focus of the 2017 Review of the Standards and Codes Initiative

Scope and Focus of the 2017 Review of the Standards and Codes Initiative »

Volume/Issue: 2017/049

Series: Policy Papers

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 August 2017

DOI: http://dx.doi.org/10.5089/9781498347105.007

ISBN: 9781498347105

Keywords: Financial crises, Macroprudential policies and financial stability, Financial systems, Financial institutions, Financial markets, policy area, CFT, AML, technical note, ROSC

The standards and codes (S&C) initiative was launched in 1999 as part of efforts to strengthen the international financial architecture. The initiative aims at promoting international best practices to improve econ...

Collaboration Between Regional Financing Arrangements and the IMF

Collaboration Between Regional Financing Arrangements and the IMF »

Volume/Issue: 2017/047

Series: Policy Papers

Author(s): International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Legal Dept.;International Monetary Fund. Asia and Pacific Dept;International Monetary Fund. Western Hemisphere Dept.;International Monetary Fund. Secretary's Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 July 2017

DOI: http://dx.doi.org/10.5089/9781498346535.007

ISBN: 9781498346535

Keywords: Financial crises, Macroprudential policies and financial stability, Financial markets, Debt sustainability analysis, International reserves, conditionality, program design, RFA, capacity development, test-run

The Global Financial Safety Net (GFSN) has expanded considerably since 2008, including in the non-traditional elements of the safety net such as Regional Financing Arrangements (RFAs). The resulting multi-layered s...

Collaboration Between Regional Financing Arrangements and the IMF--Background Paper

Collaboration Between Regional Financing Arrangements and the IMF--Background Paper »

Volume/Issue: 2017/048

Series: Policy Papers

Author(s): International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Legal Dept.;International Monetary Fund. Asia and Pacific Dept;International Monetary Fund. Western Hemisphere Dept.;International Monetary Fund. Secretary's Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 July 2017

DOI: http://dx.doi.org/10.5089/9781498346542.007

ISBN: 9781498346542

Keywords: Financial regulation and supervision, Financial crises, Interest rates on loans, Macroprudential policies and financial stability, Financial institutions, conditionality, paid-in, ESM, lend operation, information share

...

2017 External Sector Report

2017 External Sector Report »

Volume/Issue: 2017/045

Series: Policy Papers

Author(s): International Monetary Fund. Fiscal Affairs Dept.;International Monetary Fund. Asia and Pacific Dept;International Monetary Fund. Western Hemisphere Dept.;International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Secretary's Department;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 July 2017

DOI: http://dx.doi.org/10.5089/9781498346597.007

ISBN: 9781498346597

Keywords: Capital account, Capital flows, Commodity prices, Cross country analysis, Current account balances, Developed countries, Emerging markets, Exchange rates, External sector, External Sector Report

Global current account imbalances were broadly unchanged in 2016, with minor shifts adding to the reconfiguration under way since 2013. The fall in commodity prices, uneven cyclical recoveries in systemic economies...

2017 External Sector Report

2017 External Sector Report »

Volume/Issue: 2017/045

Series: Policy Papers

Author(s): International Monetary Fund. Fiscal Affairs Dept.;International Monetary Fund. Asia and Pacific Dept;International Monetary Fund. Western Hemisphere Dept.;International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Secretary's Department;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 July 2017

DOI: http://dx.doi.org/10.5089/9781498346597.007

ISBN: 9781498346597

Keywords: Capital account, Capital flows, Commodity prices, Cross country analysis, Current account balances, Developed countries, Emerging markets, Exchange rates, External sector, External Sector Report

Global current account imbalances were broadly unchanged in 2016, with minor shifts adding to the reconfiguration under way since 2013. The fall in commodity prices, uneven cyclical recoveries in systemic economies...

2017 External Sector Report Individual Economy Assessments

2017 External Sector Report Individual Economy Assessments »

Volume/Issue: 2017/046

Series: Policy Papers

Author(s): International Working Group on External Debt Statistics;International Monetary Fund. Fiscal Affairs Dept.;International Monetary Fund. Asia and Pacific Dept;International Monetary Fund. Western Hemisphere Dept.;International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Secretary's Department;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 July 2017

DOI: http://dx.doi.org/10.5089/9781498346603.007

ISBN: 9781498346603

Keywords: Capital flows, Cross country analysis, Current account, Developed countries, Emerging markets, External sector, External Sector Report, Foreign exchange intervention, Real effective exchange rates, External sector assessment

The external sector assessments use a wide range of methods, including the External Balance Assessment (EBA) developed by the IMF's Research Department to estimate desired current account balances and real exchange...

2017 External Sector Report Individual Economy Assessments

2017 External Sector Report Individual Economy Assessments »

Volume/Issue: 2017/046

Series: Policy Papers

Author(s): International Working Group on External Debt Statistics;International Monetary Fund. Fiscal Affairs Dept.;International Monetary Fund. Asia and Pacific Dept;International Monetary Fund. Western Hemisphere Dept.;International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Secretary's Department;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 July 2017

DOI: http://dx.doi.org/10.5089/9781498346603.007

ISBN: 9781498346603

Keywords: Capital flows, Cross country analysis, Current account, Developed countries, Emerging markets, External sector, External Sector Report, Foreign exchange intervention, Real effective exchange rates, External sector assessment

The external sector assessments use a wide range of methods, including the External Balance Assessment (EBA) developed by the IMF's Research Department to estimate desired current account balances and real exchange...

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - June 19, 2017

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - June 19, 2017 »

Volume/Issue: 2017/039

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2017

DOI: http://dx.doi.org/10.5089/9781498346658.007

ISBN: 9781498346658

Keywords: Banking sector, Economic recovery, Executive Board work program, External sector, Fiscal policy, Fiscal reforms, Low-income developing countries, Managing Director reports, Risk management, Surveillance

This Work Program (WP) translates the policy priorities and strategic directions laid out in the Spring 2017 Global Policy Agenda (GPA) and the International Monetary and Financial Committee (IMFC) Communiqué into...

Use of Supervisory Standards in the Financial Sector Assessment Program-Understandings with Standard Setting Bodies

Use of Supervisory Standards in the Financial Sector Assessment Program-Understandings with Standard Setting Bodies »

Volume/Issue: 2017/038

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2017

DOI: http://dx.doi.org/10.5089/9781498346641.007

ISBN: 9781498346641

Keywords: Financial sector, Financial systems, Containing systemic risk, Financial crises, Macroprudential policies and financial stability, full assessment, assessment, supervisory system, assessment report, sector

This paper informs the Executive Board of the staff-level understandings reached with global Standard Setting Bodies (SSBs) on the use of the three financial sector supervisory standards in FSAPs: the Basel Commit...

Eighth Periodic Monitoring Report on the Status of Implementation Plans in Response to Board-Endorsed IEO Recommendations

Eighth Periodic Monitoring Report on the Status of Implementation Plans in Response to Board-Endorsed IEO Recommendations »

Volume/Issue: 2017/032

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 June 2017

DOI: http://dx.doi.org/10.5089/9781498346702.007

ISBN: 9781498346702

Keywords: External sector, Economic cooperation, Financial sector reform, Financial crises, External sector assessment, IEO, management action, WEO, PMR, SPR

Monitoring Report (PMR) on the Status of Management Implementation Plans (MIPs) in Response to Board-Endorsed IEO Recommendations assesses the progress made over the last year on actions contained in the four MIPs...

Recent Trends in Correspondent Banking Relationships
			:  Further Considerations

Recent Trends in Correspondent Banking Relationships : Further Considerations »

Volume/Issue: 2017/018

Series: Policy Papers

Author(s): International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Legal Dept.;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 April 2017

DOI: http://dx.doi.org/10.5089/9781498346900.007

ISBN: 9781498346900

Keywords: Central banks, Financial crises, Macroprudential policies and financial stability, Financial institutions, Financial services, correspondent bank, global bank, CBR, CFT, AML

Correspondent banking relationships (CBRs), which facilitate global trade and economic activity, have been under pressure in several countries. So far, cross-border payments have remained stable and economic activi...

Approaches to Macrofinancial Surveillance in Article IV Reports

Approaches to Macrofinancial Surveillance in Article IV Reports »

Volume/Issue: 2017/013

Series: Policy Papers

Author(s): International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 March 2017

DOI: http://dx.doi.org/10.5089/9781498347037.007

ISBN: 9781498347037

Keywords: Financial crises, Financial systems, Financial sector surveillance, Financial sector, Real sector, article IV, article IV consultation, policy advice, IVs, country team

The Fund has made good progress over the past two years in integrating macrofinancial analysis into Article IV surveillance for a wide range of members. Building on past work to enhance financial sector analysis, F...

High Level Status Report to the IEO Evaluation of Fund's Recurring Issues

High Level Status Report to the IEO Evaluation of Fund's Recurring Issues »

Volume/Issue: 2017/012

Series: Policy Papers

Author(s): International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 March 2017

DOI: http://dx.doi.org/10.5089/9781498347044.007

ISBN: 9781498347044

Keywords: Absorptive capacity, Accounting, Accounting systems, Agricultural subsidies, Agriculture, Anti-money laundering, Arrears policy, Balance sheets, Budgeting, Budgets

This is a high-level report on progress in addressing recurring issues identified by the Independent Evaluation Office (IEO). The Board endorsed the proposal in the Chairman's Summing Up for the Independent Evaluat...

Negative Interest Rate Policies-Initial Experiences and Assessments

Negative Interest Rate Policies-Initial Experiences and Assessments »

Volume/Issue: 2017/010

Series: Policy Papers

Author(s): International Monetary Fund. Asia and Pacific Dept;International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 March 2017

DOI: http://dx.doi.org/10.5089/9781498346467.007

ISBN: 9781498346467

Keywords: Financial crises, Negative interest rates, Central banks, Market interest rates, Real sector, lend rate, negative rate, deposit rate, euro area, intermediation

The depth of the crisis and the weakness of the ensuing recovery led to new ways to implement monetary policy. At the onset of the crisis, central banks in several advanced economies quickly moved policy rates to z...

The 2017 Joint Review of the Standards and Codes Initiative

The 2017 Joint Review of the Standards and Codes Initiative »

Volume/Issue: 2017/009

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 March 2017

DOI: http://dx.doi.org/10.5089/9781498346450.007

ISBN: 9781498346450

Keywords: Financial regulation and supervision, Macroprudential policies and financial stability, Financial institutions, Financial crises, Financial systems, IOSCO, CFT, AML, ROSC, IAIS

The standards and codes (S&C) initiative was launched in the aftermath of the emerging market crises of the 1990s as part of efforts to strengthen the international financial architecture, with a focus on emerging...

Ensuring Financial Stability in Countries with Islamic Banking

Ensuring Financial Stability in Countries with Islamic Banking »

Volume/Issue: 2017/007

Series: Policy Papers

Author(s): International Monetary Fund. Legal Dept.;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 February 2017

DOI: http://dx.doi.org/10.5089/9781498347099.007

ISBN: 9781498347099

Keywords: Financial regulation and supervision, Financial crises, Financial instruments, Financial markets, Financial institutions, conventional bank, IAH, IFSB, Murabahah, PSIA

...

Tax Policy, Leverage and Macroeconomic Stability

Tax Policy, Leverage and Macroeconomic Stability »

Volume/Issue: 2016/070

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 December 2016

DOI: http://dx.doi.org/10.5089/9781498345200.007

ISBN: 9781498345200

Keywords: Borrowing, Corporate sector, Debt, Financial sector, Financial stability, Nonbank financial sector, Private sector, Tax policy, Real sector, Financial crises

Risks to macroeconomic stability posed by excessive private leverage are significantly amplified by tax distortions. ‘Debt bias' (tax provisions favoring finance by debt rather than equity) has increased leverage i...

Macroeconomic Developments and Prospects in Low-Income Developing Countries - 2016

Macroeconomic Developments and Prospects in Low-Income Developing Countries - 2016 »

Volume/Issue: 2016/066

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 November 2016

DOI: http://dx.doi.org/10.5089/9781498345019.007

ISBN: 9781498345019

Keywords: Low-income developing countries, Financial regulation and supervision, Economic conditions, Financial crises, Financial statistics, public investment, commodity price, PPPs, economic outlook, percent of GDP

This paper is the third in a series assessing macroeconomic developments and prospects in low-income developing countries (LIDCs). The first of these papers (IMF, 2014a) examined trends during 2000-2014, a period o...

New Arrangements to Borrow - Proposed Renewal of and Modifications to the NAB Decision

New Arrangements to Borrow - Proposed Renewal of and Modifications to the NAB Decision »

Volume/Issue: 2016/061

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 October 2016

DOI: http://dx.doi.org/10.5089/9781498345163.007

ISBN: 9781498345163

Keywords: Executive Board decisions, Lapse of time approval, New Arrangements to Borrow, Resource mobilization, Central banks, Financial crises, Macroprudential policies and financial stability, Monetary authorities, Credit, new participant

The Fund's decision on the New Arrangements to Borrow (the 'NAB'), as amended, (the 'NAB Decision') is subject to renewals not later than 12 months before the end of each NAB period, with the current period set to...

Adequacy of the Global Financial Safety Net

Adequacy of the Global Financial Safety Net »

Volume/Issue: 2016/059

Series: Policy Papers

Author(s): International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 October 2016

DOI: http://dx.doi.org/10.5089/9781498345880.007

ISBN: 9781498345880

Keywords: Developed countries, Developing countries, Economic integration, Emerging markets, Financial safety nets, Fund role, International financial system, Liquidity, Reserves adequacy, Trade integration

The Global Financial Safety Net (GFSN) is comprised mainly of countries' own reserves and external public sources of insurance and financing. The main external official arrangements are central bank bilateral swap...

The Managing Director's Global Policy Agenda

The Managing Director's Global Policy Agenda »

Volume/Issue: 2016/054

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 September 2016

DOI: http://dx.doi.org/10.5089/9781498345293.007

ISBN: 9781498345293

Keywords: Demand, Developed countries, Economic cooperation, Economic growth, Emerging markets, Financial sector, Fiscal policy, Fund role, Globalization, Low-income developing countries

Full text also available in Arabic, Chinese, French, Japanese, Russian, and Spanish. Despite signs of recovery and resilience in some economies, global growth continues to disappoint, with the expected pick-up dr...

The Chairman's Summing Up - The IMF and the Crises in Greece, Ireland, and Portugal - An Evaluation by the Independent Evaluation Office - Executive Board Meeting 16/69 - July 19, 2016

The Chairman's Summing Up - The IMF and the Crises in Greece, Ireland, and Portugal - An Evaluation by the Independent Evaluation Office - Executive Board Meeting 16/69 - July 19, 2016 »

Volume/Issue: 2016/044

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 July 2016

DOI: http://dx.doi.org/10.5089/9781498345392.007

ISBN: 9781498345392

Keywords: External sector assessment, Monetary unions, Financial crises, Financial safety nets, Economic forecasting, IEO, program design, currency union, market access, exist policy

Executive Directors welcomed the report by the Independent Evaluation Office (IEO) on the IMF and the Crises in Greece, Ireland, and Portugal, and appreciated the accompanying statement by the Managing Director. Th...

Staff Note for the G20 - The Role of the SDR - Initial Considerations

Staff Note for the G20 - The Role of the SDR - Initial Considerations »

Volume/Issue: 2016/040

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 July 2016

DOI: http://dx.doi.org/10.5089/9781498345446.007

ISBN: 9781498345446

Keywords: Freely usable currencies, International monetary system, Exchange risk, International investment position, Financial crises, ECU, issuer, single-currency, unit of account, liquid market

Following the recent diagnostic of the international monetary system (IMS), the IMF will explore whether a broader role for the SDR could contribute to its smooth functioning. The economic rationale for or against...

Small States Resilience to Natural Disasters and Climate Change - Role for the IMF

Small States Resilience to Natural Disasters and Climate Change - Role for the IMF »

Volume/Issue: 2016/038

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2016

DOI: http://dx.doi.org/10.5089/9781498345095.007

ISBN: 9781498345095

Keywords: Climatic changes, Debt sustainability, Developing countries, Emergency assistance, External shocks, Financial sector, Fiscal policy, Fund role, Monetary policy, Small states

Small developing states are disproportionately vulnerable to natural disasters. On average, the annual cost of disasters for small states is nearly 2 percent of GDP-more than four times that for larger countries. T...

Statement by the Managing Director on the Independent Evaluation Office's Report on the IMF and the Crises in Greece, Ireland, and Portugal - An Evaluation by the Independent Evaluation Office - Executive Board Meeting - July 19, 2016

Statement by the Managing Director on the Independent Evaluation Office's Report on the IMF and the Crises in Greece, Ireland, and Portugal - An Evaluation by the Independent Evaluation Office - Executive Board Meeting - July 19, 2016 »

Volume/Issue: 2016/030

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 June 2016

DOI: http://dx.doi.org/10.5089/9781498345460.007

ISBN: 9781498345460

Keywords: Cyprus, Euro Area, Financial crisis, Fund role, Fund-supported adjustment programs, Greece, Ireland, Managing Director reports, Portugal, Financial crises

I welcome the report of the Independent Evaluation Office (IEO) on the Euro Area crisis programs. Their work provides an independent and in-depth account, which I have no doubt will make an important contribution t...

Analyzing and Managing Fiscal Risks - Best Practices

Analyzing and Managing Fiscal Risks - Best Practices »

Volume/Issue: 2016/025

Series: Policy Papers

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 April 2016

DOI: http://dx.doi.org/10.5089/9781498345668.007

ISBN: 9781498345668

Keywords: Bonds, Financial instruments, Fiscal analysis, Fiscal policy, Fiscal risk, Public debt, Risk management, Stress testing, Financial crises, Financial soundness indicators

Comprehensive analysis and management of fiscal risks can help ensure sound fiscal public finances and macroeconomic stability. This has been underscored by the global financial crisis and the more recent collapse...

Progress Report to the International Monetary and Financial Committee on the Activities of the Independent Evaluation Office of the IMF

Progress Report to the International Monetary and Financial Committee on the Activities of the Independent Evaluation Office of the IMF »

Volume/Issue: 2016/024

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 April 2016

DOI: http://dx.doi.org/10.5089/9781498345781.007

ISBN: 9781498345781

Keywords: Crisis prevention, Data quality assessment framework, Financial crisis, Financial statistics, Fund, Reports to International Monetary and Financial Committee, Financial crises, Crisis management, Crisis resolution, Systemic risk

This progress report presents the key conclusions and recommendations of the IEO evaluation of data and statistics at the IMF that was discussed by the Executive Board on March 17, 2016. It also summarizes the IMF'...

Financial Integration in Latin America

Financial Integration in Latin America »

Volume/Issue: 2016/023

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2016

DOI: http://dx.doi.org/10.5089/9781498345897.007

ISBN: 9781498345897

Keywords: Access to capital markets, Bank supervision, Banks, Capital markets, Cross country analysis, Economic integration, Financial sector, Insurance, Latin America, Pension funds

Many Latin American economies have experienced significant reductions in growth recently, as a result of the end of the commodity super-cycle and the rebalancing of China's growth, and a number of global banks have...

FY2017-FY2019 Medium-Term Budget

FY2017-FY2019 Medium-Term Budget »

Volume/Issue: 2016/021

Series: Policy Papers

Author(s): International Monetary Fund. Office of Budget and Planning

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 March 2016

DOI: http://dx.doi.org/10.5089/9781498345859.007

ISBN: 9781498345859

Keywords: Budgeting, Financial year, Fund administrative budget, Fund budget, Fund capital budget, Resource allocation, Heavily indebted poor countries, External sector, Financial crises, Economic stabilization

The net administrative budget for FY2017 has been set at US$1,072.5 million. After four years of zero real growth, the FY 2017 budget includes an increase of 1/2 percent in constant dollar terms to cover the instit...

Strengthening the International Monetary System-A Stocktaking

Strengthening the International Monetary System-A Stocktaking »

Volume/Issue: 2016/015

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 February 2016

DOI: http://dx.doi.org/10.5089/9781498345958.007

ISBN: 9781498345958

Keywords: Business cycles, Capital flows, Central banks, Developed countries, Developing countries, Emerging markets, Fund role, International cooperation, International monetary system, Liquidity

In light of the changing contours of the global economy, this paper provides an overview of the challenges facing the International Monetary System (IMS). It seeks to forge a common understanding of the challenges...

Review of the Adequacy of the Fund's Precautionary Balances

Review of the Adequacy of the Fund's Precautionary Balances »

Volume/Issue: 2016/008

Series: Policy Papers

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 January 2016

DOI: http://dx.doi.org/10.5089/9781498346054.007

ISBN: 9781498346054

Keywords: Financial crises, Macroprudential policies and financial stability, Financial institutions, Financial instruments, SDR interest rates, special reserve, general reserve, SDRs, adequacy, IFIs

This paper reviews the adequacy of the Fund's precautionary balances, using the framework approved by the Board in 2010. The review takes place on the standard two-year cycle. The paper discusses developments since...

2016 External Sector Report

2016 External Sector Report »

Volume/Issue: 2016/005

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 January 2016

DOI: http://dx.doi.org/10.5089/9781498345545.007

ISBN: 9781498345545

Keywords: Commodity prices, Current account balances, Emerging markets, Exchange rates, External sector, External Sector Report, External shocks, Monetary policy, Real effective exchange rates, Terms of trade

After narrowing in the aftermath of the global financial crisis and remaining broadly unchanged in recent years, global imbalances increased moderately in 2015, amid a reconfiguration of current accounts and exchan...

Update on the Financing of the Fund's Concessional Assistance and Debt Relief to Low-Income Member Countries

Update on the Financing of the Fund's Concessional Assistance and Debt Relief to Low-Income Member Countries »

Volume/Issue: 2016/002

Series: Policy Papers

Author(s): International Monetary Fund. Finance Dept.;International Monetary Fund. Legal Dept.;International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 January 2016

DOI: http://dx.doi.org/10.5089/9781498345828.007

ISBN: 9781498345828

Keywords: Catastrophe Containment and Relief Trust, Concessional aid, Debt relief, Executive Board decisions, HIPC Initiative, Lapse of time approval, Low-income developing countries, Poverty Reduction and Growth Trust, Subsidy accounts, Market interest rates

Better targeted support to LICs. In July 2015, the Executive Board approved measures to strengthen the financial safety net for low-income countries. Specifically, access norms and limits to the Poverty Reduction a...

Balance Sheet Analysis in Fund Surveillance

Balance Sheet Analysis in Fund Surveillance »

Volume/Issue: 2015/076

Series: Policy Papers

Author(s): International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 December 2015

DOI: http://dx.doi.org/10.5089/9781498344456.007

ISBN: 9781498344456

Keywords: Financial and Monetary Sector, Balance sheets, Systemically important financial institutions, External sector, Financial crises, data gap, balance sheet, global crisis, non-financial, spillovers

Balance sheets convey vital information about economic prospects and risks. Balance sheet analysis captures the role that financial frictions and mismatches play in creating fragility and amplifying shocks. This is...

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting, November 23, 2015

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting, November 23, 2015 »

Volume/Issue: 2015/074

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 November 2015

DOI: http://dx.doi.org/10.5089/9781498343961.007

ISBN: 9781498343961

Keywords: Corporate governance, Executive Board work program, Fiscal policy, Fiscal reforms, Fund general resources, Fund role, Macroprudential Policy, Monetary policy, Risk management, Surveillance

The Managing Director's Global Policy Agenda (GPA) presented to the IMFC last month highlights the challenges associated with a rapidly changing and uncertain world. The limited room for policy maneuver and the nee...

Macroeconomic Developments and Prospects in Low-Income Developing Countries - 2015

Macroeconomic Developments and Prospects in Low-Income Developing Countries - 2015 »

Volume/Issue: 2015/073

Series: Policy Papers

Author(s): International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 November 2015

DOI: http://dx.doi.org/10.5089/9781498343978.007

ISBN: 9781498343978

Keywords: Capital inflows, Commodity price fluctuations, Commodity prices, Economic conditions, Economic growth, Exports, Low-income developing countries, External sector, Balance of payments, National income

This paper examines macroeconomic developments and prospects in low-income developing countries (LIDCs) against the back-drop of a sharp fall in international commodity prices. The focus here-by contrast with IMF (...

Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries - Background Paper - Country Experiences

Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries - Background Paper - Country Experiences »

Volume/Issue: 2015/069

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2015

DOI: http://dx.doi.org/10.5089/9781498344050.007

ISBN: 9781498344050

Keywords: Background papers, Cross country analysis, Emerging markets, Monetary policy, Sub-Saharan Africa, Real sector, Central bank independence, Central bank autonomy, Financial crises, Central banking and monetary issues

This background paper focuses on the experiences of evolving monetary policy frameworks in nine individual countries and three thematic groupings of countries. The country case studies are complemented by analyses...

Structural Reforms and Macroeconomic Performance - Country Cases

Structural Reforms and Macroeconomic Performance - Country Cases »

Volume/Issue: 2015/066

Series: Policy Papers

Author(s): International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 October 2015

DOI: http://dx.doi.org/10.5089/9781498344104.007

ISBN: 9781498344104

Keywords: Economic policy, Economic reforms, Balance of payments, Financial crises, Economic recovery, TFP, structural reform, factor productivity, reform effort, sector reform

As a companion piece to the Board paper on Structural Reforms and Macroeconomic Performance: Initial Considerations for the Fund, this paper presents a selection of case studies on the structural reform experiences...

Gulf Cooperation Council (GCC)-Oil Prices, Financial Stability, and the Use of Countercyclical Macroprudential Policies in the GCC

Gulf Cooperation Council (GCC)-Oil Prices, Financial Stability, and the Use of Countercyclical Macroprudential Policies in the GCC »

Volume/Issue: 2015/062

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 October 2015

DOI: http://dx.doi.org/10.5089/9781498343909.007

ISBN: 9781498343909

Keywords: Banking sector, Business cycles, Cooperation Council for the Arab States of the Gulf, Cross country analysis, External shocks, Financial stability, Liquidity, Macroprudential Policy, Oil prices, Financial crises

Economic and financial developments in the GCC economies are interwoven with oil price movements. GCC economies are highly dependent on oil and gas exports. Oil price upturns lead to higher oil revenues, stronger f...

Group of Twenty - Measures Which are Both Macroprudential and Capital Flow Management Measures
			:  IMF Approach

Group of Twenty - Measures Which are Both Macroprudential and Capital Flow Management Measures : IMF Approach »

Volume/Issue: 2015/060

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 October 2015

DOI: http://dx.doi.org/10.5089/9781498344715.007

ISBN: 9781498344715

Keywords: Financial crises, Capital flows, Macroprudential policies and financial stability, International monetary system, Financial systems, capital flow, nonresident, list B, MPM, IMF

The global financial crisis underscored the costs of systemic instability at both the national and global levels and highlighted the importance of dedicated macroprudential and capital flow management policies. The...

The Consolidated Medium-Term Income and Expenditure Framework

The Consolidated Medium-Term Income and Expenditure Framework »

Volume/Issue: 2015/061

Series: Policy Papers

Author(s): International Monetary Fund. Finance Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 October 2015

DOI: http://dx.doi.org/10.5089/9781498344722.007

ISBN: 9781498344722

Keywords: Estimated incomes and expenses, Financial year, Fund administrative budget, Net income of Fund, SDR interest rates, Financial crises, Interest rates, Reserve tranche positions, International financial markets, investment income

The medium-term income projections have been updated since the last estimate provided to the Executive Board in April 2014. The main changes to the outlook stem from a lower path for credit outstanding and expectat...

Crisis Program Review

Crisis Program Review »

Volume/Issue: 2015/051

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 September 2015

DOI: http://dx.doi.org/10.5089/9781498344036.007

ISBN: 9781498344036

Keywords: Debt restructuring, Exchange rate adjustments, Exchange rate policy, Fiscal consolidation, Fiscal policy, Fiscal reforms, Fund arrangements, Fund-supported adjustment programs, Global Financial Crisis 2008-2009, Monetary policy

This paper provides an updated review of Fund-supported programs undertaken during the global financial crisis. It follows a series of previous reviews during 2009-12 that assessed program design and outcomes durin...

Macroeconomic Developments and Selected Issues in Small Developing States

Macroeconomic Developments and Selected Issues in Small Developing States »

Volume/Issue: 2015/046

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 September 2015

DOI: http://dx.doi.org/10.5089/9781498344852.007

ISBN: 9781498344852

Keywords: Economic stabilization, Financial crises, Economic conditions, National accounts aggregates, Balance of payments, capital spend, small state, WEO, economic Outlook, WHD

This report builds on the work in the 2013 Board paper on Fund Engagement with Small States, the 2013 background papers on Asian and Pacific small states and Caribbean small states, and the 2014 staff guidance note...

Monetary Policy and Financial Stability

Monetary Policy and Financial Stability »

Volume/Issue: 2015/045

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 August 2015

DOI: http://dx.doi.org/10.5089/9781498344265.007

ISBN: 9781498344265

Keywords: Financial regulation and supervision, Central banking and monetary issues, Financial crises, Economic conditions, Macroprudential policies and financial stability, financial variable, financial stability, interest rate hike, financial imbalance, asset price

The issue of using monetary policy for financial stability purposes is hotly contested. The crisis was a reminder that price stability is not sufficient for financial stability, financial crises are costly, and pol...

2015 Spillover Report

2015 Spillover Report »

Volume/Issue: 2015/043

Series: Policy Papers

Author(s): International Monetary Fund. Fiscal Affairs Dept.;International Monetary Fund. Asia and Pacific Dept;International Monetary Fund. Western Hemisphere Dept.;International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 August 2015

DOI: http://dx.doi.org/10.5089/9781498344487.007

ISBN: 9781498344487

Keywords: Corporate sector, Debt, Developed countries, Emerging markets, Exchange rate appreciation, Monetary policy, Oil prices, Spillovers, US dollar, Real sector

Many countries around the globe, particularly the systemic advanced economies, face the challenge of closing output gaps and raising potential output growth. Addressing these challenges requires a package of macroe...

Ninth Review of the International Monetary Fund's Data Standards Initiatives

Ninth Review of the International Monetary Fund's Data Standards Initiatives »

Volume/Issue: 2015/042

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2015

DOI: http://dx.doi.org/10.5089/9781498344777.007

ISBN: 9781498344777

Keywords: Data quality assessment framework, General Data Dissemination System, Special Data Dissemination Standard, Financial crises, Fiscal sector, Real sector, External sector, Multilateral development institutions, SDDS, dissemination

The International Monetary Fund's Executive Board regularly reviews progress and developments under the Data Standards Initiatives. The last review-Eighth Review-undertaken in February 2012 introduced the Special D...

Balance Sheet Analysis in Fund Surveillance - Reference Note

Balance Sheet Analysis in Fund Surveillance - Reference Note »

Volume/Issue: 2015/040

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2015

DOI: http://dx.doi.org/10.5089/9781498344340.007

ISBN: 9781498344340

Keywords: Bilateral surveillance, Data collection, Data quality assessment framework, Developed countries, Emerging markets, General Data Dissemination System, Special Data Dissemination Standard, Fiscal sector, External sector, Real sector

This note serves as a reference for balance sheet analysis, which should be read in conjunction with the IMF board paper on Balance Sheet Analysis in Fund Surveillance. It provides a: compendium of good examples...

Implementation Plan in Response to the Board-Endorsed Recommendations for the IEO Evaluation Report of IMF Response to the Financial and Economic Crisis

Implementation Plan in Response to the Board-Endorsed Recommendations for the IEO Evaluation Report of IMF Response to the Financial and Economic Crisis »

Volume/Issue: 2015/038

Series: Policy Papers

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 July 2015

DOI: http://dx.doi.org/10.5089/9781498343947.007

ISBN: 9781498343947

Keywords: Financial crises, Macro-financial analysis, Debt sustainability analysis, Risk management, Financial risk, IEO, proposed action, governance reform, IMFC, IMF

This paper sets out Management's response to the Independent Evaluation Office's (IEO) evaluation of IMF Response to the Financial and Economic Crisis. The implementation plan proposes specific actions focusing on...

Quota Formula - Data Update

Quota Formula - Data Update »

Volume/Issue: 2015/032

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2015

DOI: http://dx.doi.org/10.5089/9781498344432.007

ISBN: 9781498344432

Keywords: Developing countries, Emerging markets, Gross domestic product, Purchasing power parity, Quota calculations, Quota formulas, Financial statistics, National income accounts, Balance of payments, Financial crises

The IMF staff has updated individual member country data for the variables used in the quota formula for the period 2001-13. The staff paper also presents updated calculated quota shares based on the current quota...

Initial Steps in Implementing the Managing Director's Action Plan for the 2014 Triennial Surveillance Review

Initial Steps in Implementing the Managing Director's Action Plan for the 2014 Triennial Surveillance Review »

Volume/Issue: 2015/024

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 April 2015

DOI: http://dx.doi.org/10.5089/9781498344647.007

ISBN: 9781498344647

Keywords: External sector, Financial crises, Economic stabilization, Balance sheets, Structural fiscal balance, article IV consultation, article IV, structural issue, TSR, policy advice

In November 2014, the Managing Director set out a five-year Action Plan for Strengthening Surveillance in line with the goals of the 2014 Triennial Surveillance Review (TSR). In response to Executive Directors' req...

Fiscal Policy and Long-Term Growth

Fiscal Policy and Long-Term Growth »

Volume/Issue: 2015/023

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 April 2015

DOI: http://dx.doi.org/10.5089/9781498344654.007

ISBN: 9781498344654

Keywords: Developed countries, Economic growth, Economic models, Emerging markets, Fiscal policy, Fiscal reforms, Low-income developing countries, Public debt, Time series, Economic reforms

This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The pa...

Progress Report on the Activities of the Independent Evaluation Office

Progress Report on the Activities of the Independent Evaluation Office »

Volume/Issue: 2015/022

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 April 2015

DOI: http://dx.doi.org/10.5089/9781498344661.007

ISBN: 9781498344661

Keywords: Capital account liberalization, Capital flows, Financial crises, Macroprudential policies and financial stability, Systemic risk, IEO, IMF, evaluation, liberalization, economic crisis

This progress report presents key conclusions and recommendations from an IEO evaluation of the IMF's response to the global financial and economic crisis and an update of the IEO evaluation of the IMF's approach t...

Managing Director's Global Policy Agenda to the International Monetary and Financial Committee
			:  Confront Global Challenges Together

Managing Director's Global Policy Agenda to the International Monetary and Financial Committee : Confront Global Challenges Together »

Volume/Issue: 2015/020

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2015

DOI: http://dx.doi.org/10.5089/9781498344685.007

ISBN: 9781498344685

Keywords: Financial and Monetary Sector, Economic conditions, Economic integration, Economic reforms, Financial crises, euro area, low-income develop country, emerge market economy, structural reform, advanced economy

Against a backdrop of declining oil prices, sharp variations in exchange rates, and market volatility, global growth remains uneven. The prospect of a new mediocre lingers as medium-term forecasts have been marked...

Seventh Periodic Monitoring Report on the Status of Implementation Plans in Response to Board-Endorsed IEO Recommendations

Seventh Periodic Monitoring Report on the Status of Implementation Plans in Response to Board-Endorsed IEO Recommendations »

Volume/Issue: 2015/019

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 April 2015

DOI: http://dx.doi.org/10.5089/9781498344234.007

ISBN: 9781498344234

Keywords: Corporate governance, Executive Board decisions, Fund role, Members, Periodic Monitoring Reports, Relationships with Fund, Reserves, Technical Assistance, External sector, Fiscal sector

The Seventh PMR includes: (i) a discussion of progress made over the last year on the actions corresponding to four Management Implementation Plans (MIPs) that were classified as still 'in progress' in the previous...

FY2016 - FY2018 Medium-Term Budget

FY2016 - FY2018 Medium-Term Budget »

Volume/Issue: 2015/016

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 March 2015

DOI: http://dx.doi.org/10.5089/9781498344821.007

ISBN: 9781498344821

Keywords: Budgeting, Financial year, Fund administrative budget, Fund capital budget, Financial crises, Development policy, Fiscal sector, Development strategy, Credit, article IV consultation

For the net administrative budget, the FY 16-18 medium-term budget (MTB) proposal includes: In FY 16, an unchanged budget envelope in real terms, for the fourth year in a row. To accommodate new and ongoing strateg...

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting, June 3, 2015

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting, June 3, 2015 »

Volume/Issue: 2015/013

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 March 2015

DOI: http://dx.doi.org/10.5089/9781498344517.007

ISBN: 9781498344517

Keywords: External sector, Economic conditions, Financial regulation and supervision, Financial crises, Economic integration, article IV consultation, low-income country, policy framework, work program, formal discussion

The Managing Director's Global Policy Agenda (GPA) presented to the IMFC in April identified a range of actions needed to bolster today's actual and tomorrow's potential output, diminish risks, and confront emergin...

Progress Report on the Activities of the Independent Evaluation Office

Progress Report on the Activities of the Independent Evaluation Office »

Volume/Issue: 2015/010

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 February 2015

DOI: http://dx.doi.org/10.5089/9781498344135.007

ISBN: 9781498344135

Keywords: Financial crises, Sovereign debt, Institutional framework, Statistics, Transparency, self-evaluation, IEO, IMF, evaluation, organizational effectiveness

...

From Banking to Sovereign Stress - Implications For Public Debt

From Banking to Sovereign Stress - Implications For Public Debt »

Volume/Issue: 2014/092

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 December 2014

DOI: http://dx.doi.org/10.5089/9781498342438.007

ISBN: 9781498342438

Keywords: Banking sector, Debt sustainability, Fiscal policy, Fiscal risk, Public debt, Risk management, Sovereign debt, Real sector, Financial crises, Macroprudential policies and financial stability

This paper explores how banking sector developments and characteristics influence the propagation of risks from the banking sector to sovereign debt, including how they affect the extent of fiscal costs of banking...

Assessing Reserve Adequacy - Specific Proposals

Assessing Reserve Adequacy - Specific Proposals »

Volume/Issue: 2014/091

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 December 2014

DOI: http://dx.doi.org/10.5089/9781498342445.007

ISBN: 9781498342445

Keywords: External sector, External sector assessment, Flexible exchange rate policy, International monetary system, Financial crises, adequacy, traditional metrics, dollarized, WEO, market access

Reserves have a central place in the policy tool kit of most economies, providing insurance against shocks. In conjunction with sound policies, they can help reduce the likelihood of balance of payment crises and p...

Pan-African Banks - Opportunities and Challenges for Cross-Border Oversight

Pan-African Banks - Opportunities and Challenges for Cross-Border Oversight »

Volume/Issue: 2014/090

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 December 2014

DOI: http://dx.doi.org/10.5089/9781498342452.007

ISBN: 9781498342452

Keywords: Association of Southeast Asian Nations, Bank supervision, Banking sector, Cross country analysis, Economic integration, Financial stability, Sub-Saharan Africa, Surveillance, Financial regulation and supervision, Financial crises

There has been a rapid expansion of pan-African banks (PABs) in recent years, with seven major PABs having a presence in at least ten African countries: three of these are headquartered in Morocco, two in Togo, and...

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - November 24, 2014

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - November 24, 2014 »

Volume/Issue: 2014/087

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 December 2014

DOI: http://dx.doi.org/10.5089/9781498342575.007

ISBN: 9781498342575

Keywords: Executive Board work program, Financial sector, Fiscal policy, Fiscal reforms, Fund role, International monetary system, Monetary policy, Surveillance, External sector, Economic conditions

The Managing Director's Global Policy Agenda (GPA) presented to the IMFC in October identified a range of actions needed to prevent growth from settling into a 'new mediocre' with unacceptably low job creation and...

Global Liquidity - Issues for Surveillance

Global Liquidity - Issues for Surveillance »

Volume/Issue: 2014/086

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 December 2014

DOI: http://dx.doi.org/10.5089/9781498343657.007

ISBN: 9781498343657

Keywords: Asset management, Developed countries, Emerging markets, International financial system, Liquidity, Monetary policy, Surveillance, Central banking and monetary issues, Financial crises, Financial markets

The paper starts by presenting evidence of commonality in global financial conditions. This commonality is then related to specific drivers of global financial conditions through a range of transmission channels, i...

Sovereign Asset-Liability Management - Guidance for Resource-Rich Economies

Sovereign Asset-Liability Management - Guidance for Resource-Rich Economies »

Volume/Issue: 2014/078

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 November 2014

DOI: http://dx.doi.org/10.5089/9781498343220.007

ISBN: 9781498343220

Keywords: Asset management, Investment, Natural resources, Risk management, Sovereign wealth funds, Financial crises, External sector, Central banking and monetary issues, Integrated asset-liability management, investment strategy

Ample natural resource revenues create both opportunities and challenges for a sovereign to transform its natural resources into well-managed financial assets. Hence, inter-temporal smoothing of revenue and consump...

Statement by the Managing Director on the Independent Evaluation Office Report on IMF Response to the Financial and Economic Crisis
			:  An IEO Assessment

Statement by the Managing Director on the Independent Evaluation Office Report on IMF Response to the Financial and Economic Crisis : An IEO Assessment »

Volume/Issue: 2014/076

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 October 2014

DOI: http://dx.doi.org/10.5089/9781498342643.007

ISBN: 9781498342643

Keywords: Fiscal policy, Financial systems, Financial crises, Macroprudential policies and financial stability, Macro-financial analysis, IEO, IMF, policy advice, global response, IMFC

The Independent Evaluation Office (IEO) has produced a detailed report that provides valuable insights on how the IMF responded to the global financial and economic crisis. The analysis in the report is broadly bal...

IMF Policies and Practices on Capacity Development

IMF Policies and Practices on Capacity Development »

Volume/Issue: 2014/069

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 August 2014

DOI: http://dx.doi.org/10.5089/9781498342810.007

ISBN: 9781498342810

Keywords: External financing, Fund policies, Fund role, Lapse of time approval, Technical Assistance, Public financial management, Economic stabilization, Financial crises, Financial statistics, Fiscal policy

This statement summarizes the IMF's policies and practices with regard to the delivery of capacity development (CD) activities. It updates the 2001 Policy Statement on IMF Technical Assistance, incorporating the pr...

Review of the Financial Sector Assessment Program-Further Adaptation to the Post-Crisis Era

Review of the Financial Sector Assessment Program-Further Adaptation to the Post-Crisis Era »

Volume/Issue: 2014/066

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2014

DOI: http://dx.doi.org/10.5089/9781498342841.007

ISBN: 9781498342841

Keywords: Article IV consultations, Financial Sector Assessment Program, Multilateral surveillance, Surveillance, Transparency, External sector, Financial crises, Macroprudential policies and financial stability, Financial systems, Financial institutions

The Financial Sector Assessment Program (FSAP), established in 1999, is an in-depth assessment of a country's financial sector. It is an important element of the Fund's surveillance and provides input to the Articl...

Review of the Financial Sector Assessment Program - Further Adaptation to the Post-Crisis Era - Background Studies

Review of the Financial Sector Assessment Program - Further Adaptation to the Post-Crisis Era - Background Studies »

Volume/Issue: 2014/067

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2014

DOI: http://dx.doi.org/10.5089/9781498342827.007

ISBN: 9781498342827

Keywords: Article IV consultations, Background papers, Bilateral surveillance, Financial Sector Assessment Program, Macroprudential Policy, Financial crises, Macroprudential policies and financial stability, Financial systems, Financial institutions, Financial services

The past five years have seen an expansion of the scope of FSAPs to assess countries' macroprudential policy (MaPP) frameworks. This note documents this increase and offers some suggestions on how the treatment of...

A Macrofinancial Approach to Supervisory Standards Assessments

A Macrofinancial Approach to Supervisory Standards Assessments »

Volume/Issue: 2014/068

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2014

DOI: http://dx.doi.org/10.5089/9781498342889.007

ISBN: 9781498342889

Keywords: Financial Sector Assessment Program, Standards and codes, Surveillance, Transparency, Financial regulation and supervision, Financial crises, Macroprudential policies and financial stability, Financial services, Financial markets, IOSCO

Standards assessments serve several important objectives but are not well integrated into Fund surveillance. Financial standards assessments, when undertaken in the context of FSAPs, are used to identify weaknesses...

2014 Triennial Surveillance Review - External Commentary - Crises, Shadows, and Surveillance

2014 Triennial Surveillance Review - External Commentary - Crises, Shadows, and Surveillance »

Volume/Issue: 2014/056

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 July 2014

DOI: http://dx.doi.org/10.5089/9781498343015.007

ISBN: 9781498343015

Keywords: Balance of payments, Economic indicators, Financial crises, Capital, Capital inflows, conditionality, IMF, crisis, subprime lend, economic Outlook

...

2014 Triennial Surveillance Review - External Study - Integrating Bilateral and Multilateral Surveillance on a Continuing Basis

2014 Triennial Surveillance Review - External Study - Integrating Bilateral and Multilateral Surveillance on a Continuing Basis »

Volume/Issue: 2014/061

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 July 2014

DOI: http://dx.doi.org/10.5089/9781498342988.007

ISBN: 9781498342988

Keywords: Bilateral surveillance, China, Fiscal policy, Germany, Japan, Monetary policy, Multilateral surveillance, Spillovers, Surveillance, United States

...

2014 Triennial Surveillance Review - External Study - Multilateral Surveillance - Ensuring A Focus On Key Risks To Global Stability

2014 Triennial Surveillance Review - External Study - Multilateral Surveillance - Ensuring A Focus On Key Risks To Global Stability »

Volume/Issue: 2014/054

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 July 2014

DOI: http://dx.doi.org/10.5089/9781498342995.007

ISBN: 9781498342995

Keywords: Bilateral surveillance, Emerging markets, Fund role, International financial system, Multilateral surveillance, Surveillance, External sector, Real sector, Financial regulation and supervision, Economic conditions

...

2014 Trienial Surveillance Review - External Study - Report on Interviews

2014 Trienial Surveillance Review - External Study - Report on Interviews »

Volume/Issue: 2014/051

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 July 2014

DOI: http://dx.doi.org/10.5089/9781498342964.007

ISBN: 9781498342964

Keywords: Article IV consultations, Bilateral surveillance, Financial Sector Assessment Program, Global Financial Stability Report, Multilateral surveillance, Publications, Spillovers, Surveillance, World Economic Outlook, External sector

...

2014 Triennial Surveillance Review - External Study - Risks and Spillovers

2014 Triennial Surveillance Review - External Study - Risks and Spillovers »

Volume/Issue: 2014/048

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 July 2014

DOI: http://dx.doi.org/10.5089/9781498342926.007

ISBN: 9781498342926

Keywords: Bilateral surveillance, Financial risk, Macroprudential Policy, Monetary policy, Multilateral surveillance, Spillovers, Surveillance, Asset prices, Assets, Balance sheets

...

2014 Triennial Surveillance Review - External Study - Structural Policies in Fund Surveillance

2014 Triennial Surveillance Review - External Study - Structural Policies in Fund Surveillance »

Volume/Issue: 2014/049

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 July 2014

DOI: http://dx.doi.org/10.5089/9781498342940.007

ISBN: 9781498342940

Keywords: Economic growth, Ethiopia, Fiscal policy, Fiscal reforms, Ghana, India, Labor market reforms, Monetary policy, Public investment, South Africa

...

2014 Triennial Surveillance Review - Overview Paper

2014 Triennial Surveillance Review - Overview Paper »

Volume/Issue: 2014/058

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 July 2014

DOI: http://dx.doi.org/10.5089/9781498343060.007

ISBN: 9781498343060

Keywords: Bilateral surveillance, Economic growth, Economic integration, Financial risk, Fund collaboration, International cooperation, Multilateral surveillance, Spillovers, Surveillance, External sector

...

2014 Triennial Surveillance Review - Staff Background Studies

2014 Triennial Surveillance Review - Staff Background Studies »

Volume/Issue: 2014/059

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 July 2014

DOI: http://dx.doi.org/10.5089/9781498343077.007

ISBN: 9781498343077

Keywords: Bilateral surveillance, Cross country analysis, Financial risk, Fiscal policy, Integrated surveillance, Low-income developing countries, Multilateral surveillance, Spillovers, Surveillance, Technical Assistance

...

Staff Guidance Note on Macroprudential Policy - Considerations for Low Income Countries

Staff Guidance Note on Macroprudential Policy - Considerations for Low Income Countries »

Volume/Issue: 2014/044

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2014

DOI: http://dx.doi.org/10.5089/9781498342612.007

ISBN: 9781498342612

Keywords: Dollarization, Financial systems, Foreign exchange, Low-income developing countries, Macroprudential Policy, Monetary policy, Technical Assistance, Financial crises, Financial markets, Macroprudential policies and financial stability

This note explores how characteristics of financial systems commonly observed in low income countries may shape the approach to the staff's advice on macroprudential policy. It explores the implications of the ongo...

Staff Guidance Note on Macroprudential Policy - Detailed Guidance on Instruments

Staff Guidance Note on Macroprudential Policy - Detailed Guidance on Instruments »

Volume/Issue: 2014/046

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2014

DOI: http://dx.doi.org/10.5089/9781498342605.007

ISBN: 9781498342605

Keywords: Corporate sector, Financial instruments, Liquidity, Macroprudential Policy, Monetary policy, Monetary transmission mechanism, Private sector, Technical Assistance, Financial crises, Real sector

This note covers considerations that can guide the staff's policy advice on the use of a broad range of macroprudential tools. It discusses the transmission and likely effectiveness of these tools in mitigating sys...

2014 Pilot External Sector Report - Individual Economy Assessments

2014 Pilot External Sector Report - Individual Economy Assessments »

Volume/Issue: 2014/034

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2014

DOI: http://dx.doi.org/10.5089/9781498343176.007

ISBN: 9781498343176

Keywords: Capital account, Cross country analysis, Current account, Developed countries, Emerging markets, External sector, External Sector Report, Foreign exchange, Intervention, Real effective exchange rates

The external sector assessments use a range of methods and metrics, including the External Balance Assessment approach developed by the IMF's Research Department to estimate desirable levels of current account bala...

2014 Spillover Report

2014 Spillover Report »

Volume/Issue: 2014/033

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 June 2014

DOI: http://dx.doi.org/10.5089/9781498343206.007

ISBN: 9781498343206

Keywords: Developed countries, Economic growth, Economic recovery, Emerging markets, Monetary policy, Regional shocks, Spillovers, Economic conditions, Financial crises, Economic stabilization

Global spillovers have entered a new phase. With crisis-related spillovers and risks fading, changing growth patterns are the main source of spillovers in the global economy at this juncture. Two key trends are hig...

Staff Guidance Note on Macroprudential Policy

Staff Guidance Note on Macroprudential Policy »

Volume/Issue: 2014/031

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 June 2014

DOI: http://dx.doi.org/10.5089/9781498342629.007

ISBN: 9781498342629

Keywords: Economic integration, Macroprudential Policy, Monetary policy, Technical Assistance, Financial crises, Macroprudential policies and financial stability, Financial services, Financial systems, Financial institutions, detailed guidance

This note provides guidance to facilitate the staff's advice on macroprudential policy in Fund surveillance. It elaborates on the principles set out in the 'Key Aspects of Macroprudential Policy,' taking into accou...

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - June 11, 2014

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - June 11, 2014 »

Volume/Issue: 2014/029

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 May 2014

DOI: http://dx.doi.org/10.5089/9781498343305.007

ISBN: 9781498343305

Keywords: Developed countries, Emerging markets, Executive Board calendar, Executive Board work program, Financial sector, Fiscal policy, Fiscal reforms, Low-income developing countries, Managing Director reports, Monetary policy

The Global Policy Agenda (GPA) presented to the IMFC in April 2014 identified a range of actions needed to transform the modest, uneven, and fragile recovery into more rapid, balanced, and sustainable growth. These...

Staff Guidance Note on the Fund's Engagement with Small Developing States

Staff Guidance Note on the Fund's Engagement with Small Developing States »

Volume/Issue: 2014/021

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 March 2014

DOI: http://dx.doi.org/10.5089/9781498343619.007

ISBN: 9781498343619

Keywords: Debt sustainability, Developing countries, Economic growth, External shocks, Fiscal sustainability, Fund role, Small states, Surveillance, Economic conditions, Economic reforms

This note highlights the unique economic characteristics and constraints facing small developing states. It provides operational guidance on Fund engagement with such countries, including on how small country size...

Managing Director's Global Policy Agenda to the International Monetary and Financial Committee

Managing Director's Global Policy Agenda to the International Monetary and Financial Committee »

Volume/Issue: 2014/018

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 March 2014

DOI: http://dx.doi.org/10.5089/9781498342704.007

ISBN: 9781498342704

Keywords: Developed countries, Economic growth, Economic recovery, Emerging markets, Financial sector, Fiscal policy, Fiscal reforms, International Monetary and Financial Committee, Monetary policy, Spillovers

The latest snapshot of the global economy looks uneasily familiar: a brittle, uneven recovery, with slower-than-expected growth and increasing downside risks. Bold and resolutely executed policies are needed to pre...

Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument

Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument »

Volume/Issue: 2014/009

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 January 2014

DOI: http://dx.doi.org/10.5089/9781498343800.007

ISBN: 9781498343800

Keywords: Access to Fund general resources, Conditionality, Flexible Credit Line, Precautionary and Liquidity Line, Rapid Financing Instrument, External sector, Financial crises, Economic conditions, Financial institutions, Financial systems

This review of the Flexible Credit Line (FCL), the Precautionary and Liquidity Line (PLL), and the Rapid Financing Instrument (RFI) focuses on four key issues: (i) the demand for the FCL and PLL in the context of t...

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting »

Volume/Issue: 2013/100

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 December 2013

DOI: http://dx.doi.org/10.5089/9781498341165.007

ISBN: 9781498341165

Keywords: Developed countries, Economic growth, Emerging markets, Executive Board calendar, Executive Board work program, Low-income developing countries, Managing Director reports, Technical Assistance, Transition economies, External sector

This document translates the policy priorities laid out in the Global Policy Agenda (GPA) and the IMFC communiqué into a work agenda for the Executive Board over the next six to twelve months...

Managing Director's Global Policy Agenda to the International Monetary and Financial Committee

Managing Director's Global Policy Agenda to the International Monetary and Financial Committee »

Volume/Issue: 2013/099

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 December 2013

DOI: http://dx.doi.org/10.5089/9781498341189.007

ISBN: 9781498341189

Keywords: Developed countries, Economic growth, Emerging markets, Fiscal policy, Fiscal sustainability, International financial system, International Monetary and Financial Committee, Low-income developing countries, Monetary policy, Surveillance

Over the past five years much has been done to avoid the worst and stave off a great depression. While the recovery has been disappointing until recently, there are some encouraging signs that activity is strengthe...

Assessing Reserve Adequacy - Further Considerations

Assessing Reserve Adequacy - Further Considerations »

Volume/Issue: 2013/089

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 November 2013

DOI: http://dx.doi.org/10.5089/9781498341110.007

ISBN: 9781498341110

Keywords: Dollarization, Reserve assets, Reserves, Reserves adequacy, Financial crises, Central banks, Central banking and monetary issues, Financial institutions, Exchange markets, coef

Reserves remain a critical liquidity buffer for most countries. They are generally associated with lower crisis risks (crisis prevention) as well as space for authorities to respond to shocks (crisis mitigation). W...

Modifications to the Current List of Financial Soundness Indicators - Background Paper

Modifications to the Current List of Financial Soundness Indicators - Background Paper »

Volume/Issue: 2013/092

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 November 2013

DOI: http://dx.doi.org/10.5089/9781498341080.007

ISBN: 9781498341080

Keywords: Background papers, Bank supervision, Corporate sector, Financial soundness indicators, Nonbank financial sector, Financial crises, Financial markets, Price indexes, External debt statistics, Systemic risk assessment

...