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Carine Meyimdjui
Using a panel of 101 low- and middle-income countries with data covering the period 1980-2012, this paper applies various econometric approaches that deal with endogeneity issues to assess the impact of food price shocks on socio-political instability once fiscal policy and remittances have been accounted for. It focuses on import prices to reflect the vulnerability of importer countries / net-buyer households to food price shocks. The paper finds that import food price shocks strongly increase the likelihood of socio-political instability. This effect is greater in countries with lower levels of private credit and income per capita. On the other hand, while remittances seem to dampen the adverse effect of import food price shocks on socio-political instability in almost all countries, the mitigating role of fiscal policy is significant only in countries with low-levels of private credit.
International Monetary Fund. Finance Dept.

Abstract

IMF Financial Operations 2018 provides a broad introduction to how the IMF fulfills its mission through its financial activities. It covers the financial structure and operations of the IMF and provides background detail on the financial statements. It reviews the IMF's three main activities: lending, surveillance, and technical assistance.

International Monetary Fund. Independent Evaluation Office

Abstract

This evaluation assesses the IMF’s work on countries in fragile and conflict-affected situations (FCS), addressing both (i) its engagement through surveillance, lending, and capacity development and (ii) the frameworks and procedures for its engagement. It finds that the IMF has provided unique and essential services to FCS to restore macroeconomic stability and rebuild core macroeconomic institutions as prerequisites for state building, playing a role in which no other institution can take its place. In this critical role, it is broadly acknowledged to have had a high impact. While the IMF has provided relatively little direct financing, it has catalyzed donor support through its assessment of a country’s economic policies and prospects. Notwithstanding this positive assessment, the IMF’s overall approach to its FCS work seems to have been conflicted. Not only has it failed consistently to make hard choices necessary to achieve full impact from its engagement in countries where success requires patient and dedicated attention over the long haul, but past efforts have not been sufficiently bold or adequately sustained, and the staff has tended to revert to treating fragile states using IMF-wide norms, rather than as countries needing special attention. The report proposes six recommendations to improve the effectiveness of the IMF’s FCS work: (i) to issue a statement of high-level commitment to FCS work for IMFC endorsement; (ii) to create an effective institutional mechanism with the mandate and authority to coordinate and champion such work; (iii) to develop comprehensive strategies for individual FCS; (iv) to adapt its lending toolkit to deliver more sustained financial support to FCS; (v) to take practical steps to increase the impact of its capacity development support to FCS; and (vi) to take steps to incentivize high-quality and experienced staff to work on individual FCS and find pragmatic ways of increasing field presence in high risk locations.

Mr. Thomas William Dorsey, Ms. Zuzana Brixiova, Sukhwinder Singh, and Mr. Helaway Tadesse
This paper reviews trends in capital flows and capital-like flows such as official grants and remittances to low-income countries over the period 1981-2006. The survey reveals a broadbased increase in such flows as a share of low-income country GDP across major regions, countries with differing commodity export composition, and countries with differing debt relief status. The increase in inflows is dominated by an increase in private sector inflows, mostly in the form of private transfers and foreign direct investment. Official sector inflows have remained comparatively constant as a share of low-income country GDP and even declined in the most recent years. The paper concludes with some tentative policy conclusions and has a discussion of data issues in the annexes.
International Monetary Fund

Abstract

This pamphlet describes the financial structure and operations of the IMF, as well as the sources of IMF financing, the policies associated with the use of IMF resources, the role of the IMF as trustee to various accounts that are administered by it, and the safeguards established for protecting the IMF's resources. Published in 1990. Extensively revised in 2001 (sixth edition).

International Monetary Fund

Abstract

Cette brochure décrit l'organisation et les opérations financières du FMI, ainsi que les sources de financement du FMI, les politiques associées à l'utilisation des ressources du FMI, le rôle du FMI en tant que mandataire pour les différents comptes qu'il gère, et les garde-fous établis pour protéger les ressources du FMI. Document publié en 1990. Revu en profondeur en 2001 (sixième édition).

International Monetary Fund

Abstract

En este folleto se describen la estructura y las operaciones financieras del FMI, así como las fuentes del financiamiento del FMI, las políticas relacionadas con el uso de los recursos del FMI, y el papel de la institución como fideicomisario de diversas cuentas que administra y las salvaguardias establecidas para proteger los recursos del FMI. Publicado en 1990. Revisado extensamente en 2001 (sexta edición).

International Monetary Fund

Abstract

This pamphlet describes the financial structure and operations of the IMF, as well as the sources of IMF financing, the policies associated with the use of IMF resources, the role of the IMF as trustee to various accounts that are administered by it, and the safeguards established for protecting the IMF's resources. Published in 1990. Extensively revised in 2001 (sixth edition).