Browse

You are looking at 1 - 10 of 17 items for :

  • Foreign aid x
Clear All
International Monetary Fund. External Relations Dept.

Following is a summary of the September 28 opening address of the Annual Meetings Chairman, Mahesh Acharya, Governor of the Bank and the IMF for Nepal.

International Monetary Fund. External Relations Dept.
This paper analyzes the effect of rapid inflation on a country’s international position. The paper highlights that when prices and costs in any country rise rapidly, goods produced in the country soon become more expensive than similar goods produced abroad. Unless the exchange rate changes, this encourages imports and discourages exports. As prices in a country rise more rapidly than in the rest of the world, individuals in that country tend to turn from buying these increasingly expensive products of their own industries to the relatively cheaper foreign goods.
International Monetary Fund. External Relations Dept.
This paper examines adjustment, growth, and the IMF’s role. Under the Baker plan, the IMF would continue to play a central role in dealing with the economic imbalances and the debt problems that countries face, a role that would continue to include the analysis and policy advice that the IMF brings to discussions with member countries. The IMF’s role will also be to continue to help countries obtain new external financing from commercial banks as well as from official sources.
International Monetary Fund. External Relations Dept.

IMF Managing Director Michel Camdessus recently spoke with the editors of the IMF Survey about events over the past 13 years, as well as about future developments in the international monetary system and the evolution of the IMF. The interview will be published in two parts—the first, which follows, focuses on developments since 1987. The second part, which looks to the future, will be published in the next issue of the IMF Survey, dated January 10, 2000.

International Monetary Fund. External Relations Dept.

The March issue of Finance & Development, which will be available shortly, focuses on the remarkably successful reform and recovery in Latin America and the Caribbean in the wake of the economic crises of the past few years. The articles, including several by finance ministers or central bank governors from the region, discuss the progress made in these countries and the global implications of their experiences.

International Monetary Fund. External Relations Dept.

The IMF offers financial assistance to members to help them correct balance of payments problems and to sof ten the impact of reform. The IMF’s financing is provided through both its general resources and its concessional financing facility (Enhanced Structural Adjustment Facility (ESAF)), which is administered separately. The extension of IMF credit is subject to Executive Board approval and, in most cases, to the member’s commitment to take steps to address the causes of its payments imbalance. A member’s access to IMF resources is set in proportion to its quota.

International Monetary Fund. External Relations Dept.
IMF Managing Director Horst Köhler has recommended for Executive Board approval a transitional program for Argentina. The IMF said that while providing no net new financing, the arrangement would provide financial support and an extension of payment expectations to the IMF through August 2003. The Executive Board is expected to review the transitional program in the coming days.
Miss Nkunde Mwase
BRICs development financing flows have increased significantly and are expected to become more prominent in the post-crisis era. We investigate the potential implications on the country-allocation of loan commitments and the degree of concessionality using a panel vector autoregression model and single equation dynamic panel estimation.We find that BRICs lend more to LICs with weaker institutions. Land-locked, resource-scarce LICs receive significantly less financing than other resource-rich LICs. The degree of concessionality is negatively correlated with the amount of loans and positively correlated with better institutional indicators suggesting that the higher the risks, the higher the required returns that BRICs expect.
Yongzheng Yang and Miss Nkunde Mwase
Flows of development financing from the BRICs (Brazil, Russia, India, and China) to low income countries (LICs) have surged in recent years. Unlike aid from traditional donors, BRICs (excluding Russia) view their financing as primarily based on the principles of South-South cooperation, focusing on mutual benefits without attachment of policy conditionality. This paper provides an overview of the philosophies and modalities of BRIC financing and examines their implications for LIC economies and future LIC-BRIC engagement.