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You are looking at 1 - 4 of 4 items for :

  • Business and Economics x
  • Global Financial Crisis, 2008-2009 x
  • Financial crises x
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Cover IMF Staff Country Reports
IMF Executive Board Approves Precautionary Stand-By Arrangement for El Salvador of About $800 Million
International Monetary Fund

The staff report for El Salvador’s request for a Stand-By Arrangement is examined. Fiscal consolidation led to a reduction in the public debt-to-GDP ratio, and the country has experienced the highest growth rates in a decade. Real GDP growth is projected to slow to 3.2 percent in 2008, reflecting lower growth in remittances, a tightening of external financing conditions, and a decline in investment. Exports, however, have remained buoyant despite weaker external demand. The banking system remains liquid and well capitalized, although nonperforming loans have increased and profitability is declining.

Keywords:
ISCR; CR; staff appraisal; infrastructure investment; sound fiscal policy; IMF staff representative; fund; effects El Salvador; macroeconomic fundamental; El Salvador's banking system; economy's liquidity buffer; Liquidity requirements; Liquidity; Global financial crisis of 2008-2009; Global
Cover IMF Staff Country Reports
Australia: Financial System Stability Assessment
International Monetary Fund. Asia and Pacific Dept and International Monetary Fund. Monetary and Capital Markets Department
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; foreign currency; liquidity risk management; exchange rate; bank capital; investment strategy; overseas assets; funding liability; bank funding structure; overseas asset performance; consumer confidence; capital position; industry risk; bank board; bank result; migration matrices; Financial sector stability; Stress testing; Commercial banks; Global financial crisis of 2008-2009; Global
Cover IMF Working Papers
Regulatory Cycles: Revisiting the Political Economy of Financial Crises
Jihad Dagher
Financial crises are traditionally analyzed as purely economic phenomena. The political economy of financial booms and busts remains both under-emphasized and limited to isolated episodes. This paper examines the political economy of financial policy during ten of the most infamous financial booms and busts since the 18th century, and presents consistent evidence of pro-cyclical regulatory policies by governments. Financial booms, and risk-taking during these episodes, were often amplified by political regulatory stimuli, credit subsidies, and an increasing light-touch approach to financial supervision. The regulatory backlash that ensues from financial crises can only be understood in the context of the deep political ramifications of these crises. Post-crisis regulations do not always survive the following boom. The interplay between politics and financial policy over these cycles deserves further attention. History suggests that politics can be the undoing of macro-prudential regulations.
Keywords:
WP; central bank; financial market; political economy; banking sector; Financial Regulation; Financial Crises; Boom-Bust Cycles; Glass-Steagall Act; financial bubble; ruling party; share price; joint stock; crony capitalism; plain vanilla; stock index; bubble company; joint-stock bank; incumbent governments policy; government sponsorship; Housing; Global financial crisis of 2008-2009; Banking crises; Global; South America
Cover Policy Papers
Stocktaking the Fund’s Engagement with Regional Financing Arrangements
International Monetary Fund
Following the global financial crisis of 2008-09, regional financing arrangements (RFAs) have been recognized as an important layer of the global financial safety net. This paper summarizes the current landscape of RFAs, and discusses IMF-RFA coordination to date and options for enhancing cooperation going forward. In so doing, it intends to contribute to discussions underway at international fora and solicit views from the Fund and RFA memberships on how to enhance cooperation
Keywords:
PP; Fund resource; Fund financing; Fund involvement; IMF-RFA coordination; lending framework; RFA financing vehicle; financial support; Fund coordination; Fund instrument; Fund staff; envisaged role; Global financial crisis of 2008-2009; Loans; Financial sector stability; Lines of credit; Global; Europe; North America; East Asia