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Measuring Financial Access
			: 10 Years of the IMF Financial Access Survey

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Measuring Financial Access : 10 Years of the IMF Financial Access Survey »

Volume/Issue: 2020/8

Series: Departmental Papers / Policy Papers

Author(s): Marco Espinosa-Vega , Kazuko Shirono , Hector Carcel Villanova , Esha Chhabra , Bidisha Das , and Yingjie Fan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 May 2020

DOI: http://dx.doi.org/10.5089/9781513538853.087

ISBN: 9781513538853

Keywords: Financial inclusion, Financial institutions, Inclusive growth, Economic development, Financial inclusion;Financial institutions;Inclusive growth;Economic development

This departmental paper marks the 10th anniversary of the IMF Financial Access Survey (FAS). It offers a retrospective of the FAS database, along with some reflections as to its future directions. Since its 20...

Kyrgyz Republic
			: Request for Purchase Under the Rapid Financing Instrument and Disbursement under the Rapid Credit Facility-Press Release; and Staff Report

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Kyrgyz Republic : Request for Purchase Under the Rapid Financing Instrument and Disbursement under the Rapid Credit Facility-Press Release; and Staff Report »

Volume/Issue: 2020/1558

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 May 2020

Language: Russian

DOI: http://dx.doi.org/10.5089/9781513543550.002

ISBN: 9781513543550

Keywords: Rapid Credit Facility (RCF), Rapid Financing Instrument (RFI)

The outbreak of the COVID-19 pandemic has weakened the macroeconomic outlook. The authorities have launched a health care contingency plan and an initial package of economic measures, together totaling $31 million...

Improving Fiscal Transparency to Raise Government Efficiency and Reduce Corruption Vulnerabilities in Central, Eastern, and Southeastern Europe

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Improving Fiscal Transparency to Raise Government Efficiency and Reduce Corruption Vulnerabilities in Central, Eastern, and Southeastern Europe »

Volume/Issue: 2020/6

Series: Departmental Papers / Policy Papers

Author(s): Bernardin Akitoby , Larry Cui , Silvia Domit , Jingzhou Meng , Slavi Slavov , Nujin Suphaphiphat , and Hanqi Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2020

DOI: http://dx.doi.org/10.5089/9781513532837.087

ISBN: 9781513532837

Keywords: Fiscal transparency, Corruption, Fiscal risk, Governance, Fiscal Transparency; Corruption; Government Efficiency; Fiscal Risks

This departmental paper investigates how countries in Central, Eastern, and Southeastern Europe (CESEE) can improve fiscal transparency, thereby raising government efficiency and reducing corruption vulnerabilities...

Stress Testing in Sub-Saharan Africa
			: Practices, Communications, and Capacity Development

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Stress Testing in Sub-Saharan Africa : Practices, Communications, and Capacity Development »

Volume/Issue: 2020/7

Series: Departmental Papers / Policy Papers

Author(s): Mindaugas Leika , Hector Perez-Saiz , Olga Ilinichna Stankova , and Torsten Wezel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2020

DOI: http://dx.doi.org/10.5089/9781513532912.087

ISBN: 9781513532912

Keywords: Banking, Stress testing, Sub-Saharan Africa, Banking; Capacity Development;Stress testing;Sub-Saharan Africa

The paper finds that supervisory stress tests are conducted in more than half of sub-Saharan African countries, particularly in western and southern Africa, and that the number of individual stress tests has grown...

Mali
			: Requests for Disbursement Under the Rapid Credit Facility and Rephasing of Access Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Mali

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Mali : Requests for Disbursement Under the Rapid Credit Facility and Rephasing of Access Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Mali »

Volume/Issue: 2020/153

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 May 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513543192.002

ISBN: 9781513543192

Keywords: Rapid Credit Facility (RCF)

The COVID-19 pandemic has added to Mali's significant security and social challenges. The outbreak reached Mali relatively late, with first confirmed cases on March 24 and 293 cases (seventeen deaths) as of April 2...

Georgia
			: Sixth Review Under the Extended Arrangement and Requests for a Waiver of Nonobservance of Performance Criterion, Modification of Performance Criteria, and Augmentation of Access-Press Release; Staff Report; and Statement by the Executive Director for Georgia

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Georgia : Sixth Review Under the Extended Arrangement and Requests for a Waiver of Nonobservance of Performance Criterion, Modification of Performance Criteria, and Augmentation of Access-Press Release; Staff Report; and Statement by the Executive Director for Georgia »

Volume/Issue: 2020/149

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 May 2020

DOI: http://dx.doi.org/10.5089/9781513542898.002

ISBN: 9781513542898

Georgia's performance under the Extended Arrangement has been good, but the country is now facing a pronounced economic slowdown and an urgent balance of payments need due to the COVID-19 pandemic. Real GDP is expe...

Colombia
			: Request for an Arrangement Under the Flexible Credit Line and Cancellation of the Current Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Colombia

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Colombia : Request for an Arrangement Under the Flexible Credit Line and Cancellation of the Current Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Colombia »

Volume/Issue: 2020/148

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 May 2020

DOI: http://dx.doi.org/10.5089/9781513542867.002

ISBN: 9781513542867

Keywords: Flexible Credit Line

Before the Covid-19 pandemic and subsequent global disruption, Colombia's recovery showed resilience despite a weak external environment thanks to its very strong economic policy framework and timely policy actions...

IMF COVID-19 Response-A New Short-Term Liquidity Line to Enhance The Adequacy Of The Global Financial Safety Net

IMF COVID-19 Response-A New Short-Term Liquidity Line to Enhance The Adequacy Of The Global Financial Safety Net »

Volume: 20

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 April 2020

DOI: http://dx.doi.org/10.5089/9781513541709.007

ISBN: 9781513541709

The COVID-19 pandemic has created severe disruption in the global financial system, with many emerging market and developing countries (EMDCs) facing liquidity shortages. In the context of intensified demand for li...

Republic of North Macedonia
			: Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for the Republic of North Macedonia

Republic of North Macedonia : Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for the Republic of North Macedonia »

Volume/Issue: 2020/113

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 April 2020

DOI: http://dx.doi.org/10.5089/9781513541037.002

ISBN: 9781513541037

North Macedonia's economic outlook has deteriorated substantially due the COVID-19 pandemic. Real GDP is expected to decline by 4 percent due to a fall in both domestic and external demand. This, together with nega...

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: 20

Series: Policy Papers

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 2020

DOI: http://dx.doi.org/10.5089/9781513540559.007

ISBN: 9781513540559

Like everyone else, the IEO is now adapting to new realities in the wake of the coronavirus pandemic. During the five months after the 2019 Annual Meetings, the IEO completed two reports, continued work on two ongo...

The Managing Director's Global Policy Agenda, Spring Meetings 2020
			: Exceptional Times Exceptional Action

The Managing Director's Global Policy Agenda, Spring Meetings 2020 : Exceptional Times Exceptional Action »

Volume: 20

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 2020

DOI: http://dx.doi.org/10.5089/9781513540528.007

ISBN: 9781513540528

Keywords: Global Policy Agenda, GPA, COVID-19, Coronavirus, recovery, protect, protection, policymakers, policy makers

Managing Director Kristalina Georgieva's Global Policy Agenda, Exceptional Times, Exceptional Action, highlights three priorities for policymakers around the world: protect lives, protect livelihoods, and plan for...

Global Financial Stability Report, April 2020

Global Financial Stability Report, April 2020 »

Series: Global Financial Stability Report

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 April 2020

DOI: http://dx.doi.org/10.5089/9781513529196.082

ISBN: 9781513529196

Keywords: Financial crisis, Health, Banking, Financial stability, Global Financial Stability Report, Global Financial Stability Risks, International financial stability, Macroprudential policies and financial stability, coronavirus, covid-19

The coronavirus (COVID-19) pandemic poses unprecedented health, economic, and financial stability challenges. Following the COVID-19 outbreak, the prices of risk assets collapsed and market volatility spiked, while...

World Economic Outlook, April 2020
			: The Great Lockdown

World Economic Outlook, April 2020 : The Great Lockdown »

Series: World Economic Outlook

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 April 2020

DOI: http://dx.doi.org/10.5089/9781513539744.081

ISBN: 9781513539744

Keywords: Economic recession, Recessions, Commodity markets, Commodity prices, Commodity price shocks, Economic forecasting, Forecasting models, Forecasting, comoravirus, COVID-19

The COVID-19 pandemic is inflicting high and rising human costs worldwide, and the necessary protection measures are severely impacting economic activity. As a result of the pandemic, the global economy is projecte...

Malta
			: 2020 Article IV Consultation-Press Release and Staff Report

Malta : 2020 Article IV Consultation-Press Release and Staff Report »

Volume/Issue: 2020/98

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 April 2020

DOI: http://dx.doi.org/10.5089/9781513540078.002

ISBN: 9781513540078

Since the beginning of March, when the first COVID-19 case was identified in Malta, the number of infected people has increased rapidly. As of April 1, 188 people have been diagnosed with COVID-19 in Malta. Contagi...

Malta
			: 2020 Selected Issues

Malta : 2020 Selected Issues »

Volume/Issue: 2020/99

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 April 2020

DOI: http://dx.doi.org/10.5089/9781513540122.002

ISBN: 9781513540122

2020 Selected Issues...

Enhancing the Emergency Financing Toolkit-Responding To The COVID-19 Pandemic

Enhancing the Emergency Financing Toolkit-Responding To The COVID-19 Pandemic »

Volume: 20

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 April 2020

DOI: http://dx.doi.org/10.5089/9781513540160.007

ISBN: 9781513540160

Keywords: IMF Lending, Poverty Reduction and Growth Trust, Poverty reduction, Poverty Reduction and Growth Facility Trust, Poverty Reduction and Growth Facility, COVID-19, Pandemic, lending, Rapid Credit Facility, Rapid Financing Instrument

The COVID-19 pandemic is taking a human toll and has unleashed a series of shocks on the Fund's entire membership, creating severe disruption in the global economic and financial system. As a result, many emerging...

Streamlining Procedures for Board Consideration of The Fund's Emergency Financing During Exceptional Circumstances Involving A Pandemic

Streamlining Procedures for Board Consideration of The Fund's Emergency Financing During Exceptional Circumstances Involving A Pandemic »

Volume: 20

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 April 2020

DOI: http://dx.doi.org/10.5089/9781513540177.007

ISBN: 9781513540177

Keywords: COVID-19, pandemic, RFI, RCF, CCRT, Rapid Financing Instrument, Rapid Credit Facility, Catastrophe Containment and Relief Trust, emergency financing

The COVID-19 pandemic has inflicted an unprecedented shock on the global economy and created an enormous demand for Fund resources. To accelerate processing and approval of members' requests in such circumstances,...

Articles of Agreement 2020

Articles of Agreement 2020 »

Series: Articles of Agreement

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 March 2020

DOI: http://dx.doi.org/10.5089/9781513521244.013

ISBN: 9781513521244

Keywords: Articles of Agreement, Amendments of Articles of Agreement, Special Drawing Rights, Provisioning, Balance of payments, Currencies, Exchange restrictions, currency, drawing rights, transactions

The Articles of Agreement of the International Monetary Fund were adopted at the United Nations Monetary and Financial Conference (Bretton Woods, New Hampshire) on July 22, 1944. They were originally accepted by 29...

Fifteenth General Review of Quotas-Notification from the Executive Board to the Board of Governors
			: December 2019

Fifteenth General Review of Quotas-Notification from the Executive Board to the Board of Governors : December 2019 »

Volume: 20

Series: Policy Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2020

DOI: http://dx.doi.org/10.5089/9781513530093.007

ISBN: 9781513530093

On December 20, 2019, the Executive Board notified the Board of Governors that it would not be able to report to the Board of Governors in time to facilitate a vote by the Board of Governors concluding the Fifteent...

Fifteenth General Review of Quotas-Notification from the Executive Board to the Board of Governors
			: October 2019

Fifteenth General Review of Quotas-Notification from the Executive Board to the Board of Governors : October 2019 »

Volume: 20

Series: Policy Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2020

DOI: http://dx.doi.org/10.5089/9781513530086.007

ISBN: 9781513530086

On October 15, 2019, the Executive Board notified the Board of Governors that the conclusion of the Fifteenth Review was part of a package on Fund resources and governance reform on which discussions were still ong...

Proposed Decisions to Modify the New Arrangements to Borrow and to Extend the Deadline for a Review of the Borrowing Guidelines

Proposed Decisions to Modify the New Arrangements to Borrow and to Extend the Deadline for a Review of the Borrowing Guidelines »

Volume: 20

Series: Policy Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2020

DOI: http://dx.doi.org/10.5089/9781513530062.007

ISBN: 9781513530062

Keywords: International monetary system, Forward commitment capacity, Central banks, Monetary authorities, Credit, NAB, PP, general review, IMFC, executive board

This paper presents a proposal for reforming the NAB with a doubling of the aggregate size of the NAB and amendments to the NAB Decision. The proposal contains the following key elements: doubling the aggregate siz...

Republic of South Sudan
			: Technical Assistance Report-Report on External Sector Statistics Mission

Republic of South Sudan : Technical Assistance Report-Report on External Sector Statistics Mission »

Volume/Issue: 2020/10

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 January 2020

DOI: http://dx.doi.org/10.5089/9781513526737.002

ISBN: 9781513526737

Keywords: External sector, Balance of payments, Balance of payments statistics, Financial statistics, Monetary statistics, ISCR, CR, BSS, ESS, MOF

This Technical Assistance Mission has been undertaken to support the Bank of South Sudan (BSS) in improving external sector statistics (ESS). The recommendations made during the 2018 mission for the recording of oi...

One Shock, Many Policy Responses

One Shock, Many Policy Responses »

Volume/Issue: 2020/10

Series: IMF Working Papers

Author(s): Rui Mano , and Silvia Sgherri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 January 2020

DOI: http://dx.doi.org/10.5089/9781513521503.001

ISBN: 9781513521503

Keywords: Exchange rate policy, International investment position, Foreign exchange reserves, Foreign exchange intervention, Central banks, Capital flows, emerging markets, macroprudential policies, capital flows management., WP

Policymakers have relied on a wide range of policy tools to cope with capital flow shocks. And yet, the effects and interaction of these policies remain under debate, as does the motivation for using them. In this...

List of IMF Member Countries with Delays in Completion of Article IV Consultations or Mandatory Financial Stability Assessments over 18 Months

List of IMF Member Countries with Delays in Completion of Article IV Consultations or Mandatory Financial Stability Assessments over 18 Months »

Volume: 19

Series: Policy Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2019

DOI: http://dx.doi.org/10.5089/9781513524702.007

ISBN: 9781513524702

In accordance with Executive Board Decision No. 15106-(12/21), the Fund will publish on its external website a list of member countries whose Article IV consultations or mandatory financial stability assessments ha...

U.S. Monetary Policy Spillovers to GCC Countries: Do Oil Prices Matter?

U.S. Monetary Policy Spillovers to GCC Countries: Do Oil Prices Matter? »

Volume/Issue: 2019/304

Series: IMF Working Papers

Author(s): Olumuyiwa Adedeji , Erik Roos , Sohaib Shahid , and Ling Zhu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2019

DOI: http://dx.doi.org/10.5089/9781513519357.001

ISBN: 9781513519357

Keywords: Bank rates, Market interest rates, Real interest rates, Discount rates, Interest rates on loans, Growth, Gulf Corporation Council, Spillovers, U.S. Monetary Policy, WP

This paper provides empirical evidence that the size of the spillovers from U.S. monetary policy to non-oil GDP growth in the GCC countries depends on the level of oil prices. The potential channels through which o...

Suriname
			: Selected Issues

Suriname : Selected Issues »

Volume/Issue: 2019/392

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 December 2019

DOI: http://dx.doi.org/10.5089/9781513524504.002

ISBN: 9781513524504

This Selected Issues paper on Suriname analyzes exchange rate pass through in Suriname. While the previous studies exclusively focused on the bilateral exchange rate against the US dollar, this study, in addition,...

Zambia
			: Technical Assistance Report-Report on External Sector Statistics Mission

Zambia : Technical Assistance Report-Report on External Sector Statistics Mission »

Volume/Issue: 2019/374

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 December 2019

DOI: http://dx.doi.org/10.5089/9781513523538.002

ISBN: 9781513523538

Keywords: Balance of payments statistics, Balance of payments, International investment position, Balance of payments need, External sector statistics, ISCR, CR, IIP, balance of payment, release calendar

This Technical Assistance Report on Zambia highlights the dissemination of external sector statistics during the Department for International Development-Enhanced Data Dissemination Initiative 2 Project Module 1. T...

Big Data on Vessel Traffic: Nowcasting Trade Flows in Real Time

Big Data on Vessel Traffic: Nowcasting Trade Flows in Real Time »

Volume/Issue: 2019/275

Series: IMF Working Papers

Author(s): Serkan Arslanalp , Marco Marini , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 December 2019

DOI: http://dx.doi.org/10.5089/9781513521121.001

ISBN: 9781513521121

Keywords: Big Data, Trade Statistics, Automatic Identification System, Vessel Traffic.

Vessel traffic data based on the Automatic Identification System (AIS) is a big data source for nowcasting trade activity in real time. Using Malta as a benchmark, we develop indicators of trade and maritime activi...

Cyprus
			: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cyprus

Cyprus : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cyprus »

Volume/Issue: 2019/362

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2019

DOI: http://dx.doi.org/10.5089/9781513522036.002

ISBN: 9781513522036

This 2019 Article IV Consultation with Cyprus discusses that following a period of very rapid growth in the aftermath of the economic crisis, growth is gradually settling in at a more sustainable but still relative...

Cyprus
			: Selected Issues

Cyprus : Selected Issues »

Volume/Issue: 2019/363

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2019

DOI: http://dx.doi.org/10.5089/9781513522067.002

ISBN: 9781513522067

This Selected Issues paper assesses Cyprus's export competitiveness and understands factors that could explain export developments, particularly in the services sector. Although Cyprus has been able to leverage its...

Finance & Development, December 2019
			: The Economics of Climate

Finance & Development, December 2019 : The Economics of Climate »

Volume: 56

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 December 2019

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781498316965.022

ISBN: 9781498316965

Keywords: Finance and Development

Finance & Development, December 2019...

Finance & Development, December 2019
			: The Economics of Climate

Finance & Development, December 2019 : The Economics of Climate »

Volume: 56

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 December 2019

Language: French

DOI: http://dx.doi.org/10.5089/9781498316996.022

ISBN: 9781498316996

Keywords: Finance and Development

Finance & Development, December 2019...

Finance & Development, December 2019
			: The Economics of Climate

Finance & Development, December 2019 : The Economics of Climate »

Volume: 56

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 December 2019

DOI: http://dx.doi.org/10.5089/9781498316880.022

ISBN: 9781498316880

Keywords: Finance and Development

This issue of Finance & Development looks at the economic and financial impact of climate policy choices. It points to concrete solutions that offer growth opportunities, driven by technological innovation, sustain...

Finance & Development, December 2019
			: The Economics of Climate

Finance & Development, December 2019 : The Economics of Climate »

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 December 2019

Language: Russian

DOI: http://dx.doi.org/10.5089/9781498316934.022

ISBN: 9781498316934

Keywords: Finance and Development

Finance & Development, December 2019...

Finance & Development, December 2019
			: The Economics of Climate

Finance & Development, December 2019 : The Economics of Climate »

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 December 2019

Language: Chinese

DOI: http://dx.doi.org/10.5089/9781498316958.022

ISBN: 9781498316958

Keywords: Finance and Development

Finance & Development, December 2019...

By-Laws, Rules and Regulations
			: November 2019

By-Laws, Rules and Regulations : November 2019 »

Series: By Laws, Rules & Regulations

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 November 2019

DOI: http://dx.doi.org/10.5089/9781513520186.016

ISBN: 9781513520186

Keywords: Financial statements, Special Drawing Rights, Central banks, External audit, Multiple currency practices, Board of Governors, Executive Board, IMF membership, IMF quotas, BYLA

This volume sets out the IMF's By-Laws, which are adopted under the authority of, and are intended to be complementary to, the IMF's Articles of Agreement, which are considered to prevail in the event of any confli...

By-Laws, Rules and Regulations
			: November 2019

By-Laws, Rules and Regulations : November 2019 »

Series: By Laws, Rules & Regulations

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 November 2019

Language: Arabic

DOI: http://dx.doi.org/10.5089/9781513528236.016

ISBN: 9781513528236

Keywords: Financial statements, Special Drawing Rights, Central banks, External audit, Multiple currency practices, Board of Governors, Executive Board, IMF membership, IMF quotas, BYLA

This volume sets out the IMF's By-Laws, which are adopted under the authority of, and are intended to be complementary to, the IMF's Articles of Agreement, which are considered to prevail in the event of any confli...

Greece
			: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Greece

Greece : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Greece »

Volume/Issue: 2019/340

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 November 2019

DOI: http://dx.doi.org/10.5089/9781513520209.002

ISBN: 9781513520209

This 2019 Article IV Consultation with Greece discusses that public debt is projected to trend down over the next decade, though long-term sustainability is not assured under realistic macro-fiscal assumptions. Sti...

Greece
			: Selected Issues

Greece : Selected Issues »

Volume/Issue: 2019/341

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 November 2019

DOI: http://dx.doi.org/10.5089/9781513520261.002

ISBN: 9781513520261

This Selected Issues paper explores the links between wage policies, non-wage cost developments, and competitiveness. A series of program-era policies helped to partially reverse this trend, including labor market...

Lifting Growth in the Western Balkans
			: The Role of Global Value Chains and Services Exports

Lifting Growth in the Western Balkans : The Role of Global Value Chains and Services Exports »

Volume/Issue: 2019/13

Series: Departmental Papers / Policy Papers

Author(s): Nadeem Ilahi , Armine Khachatryan , William Lindquist , Nhu Nguyen , Faezeh Raei , and Jesmin Rahman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 November 2019

DOI: http://dx.doi.org/10.5089/9781498314916.087

ISBN: 9781498314916

Keywords: Economic growth, Foreign trade, Supply, Services industry, Regional integration, Trade; Global Value Chains; Supply Chains; Growth; Services Trade; EU accession; Regional Integration

In the past 25 years, exports have contributed strongly to growth and economic convergence in many small open economies. However, the Western Balkan (WB) region, consisting of small emerging market economies, has n...

The Drivers, Implications and Outlook for China's Shrinking Current Account Surplus

The Drivers, Implications and Outlook for China's Shrinking Current Account Surplus »

Volume/Issue: 2019/244

Series: IMF Working Papers

Author(s): Pragyan Deb , Albe Gjonbalaj , and Swarnali Hannan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2019

DOI: http://dx.doi.org/10.5089/9781513516097.001

ISBN: 9781513516097

Keywords: Accounting, Aging, Assets, Balance of trade, Bank deposits, Bilateral trade, Bonds, Capital, Capital account, Capital flows

China's current account surplus has declined significantly from its peak in 2008 and the external position in 2018 was in line with medium-term fundamentals and desirable policies. While cyclical factors and expans...

Regional Economic Outlook, October 2019, Western Hemisphere Department

Regional Economic Outlook, October 2019, Western Hemisphere Department »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 October 2019

Language: Portuguese

DOI: http://dx.doi.org/10.5089/9781513515502.086

ISBN: 9781513515502

Regional Economic Outlook, October 2019, Western Hemisphere Department...

Regional Economic Outlook, October 2019, Western Hemisphere Department

Regional Economic Outlook, October 2019, Western Hemisphere Department »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 October 2019

DOI: http://dx.doi.org/10.5089/9781513513959.086

ISBN: 9781513513959

Keywords: Consumption, Economic conditions, Economic policy, Monetary policy, Labor, Latin America, Trade, Regional Economic Outlook, Latin America and the Caribbean, LAC

The global economy has slowed, with important consequences for growth prospects in Latin America and the Caribbean. The slowdown in economic activity has been broad-based among advanced economies and more pronounce...

Regional Economic Outlook, October 2019, Western Hemisphere Department

Regional Economic Outlook, October 2019, Western Hemisphere Department »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 October 2019

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781513515311.086

ISBN: 9781513515311

Regional Economic Outlook, October 2019, Western Hemisphere Department...

Bosnia and Herzegovina
			: Technical Assistance Report-Implementation of a New Reserve Requirement Framework

Bosnia and Herzegovina : Technical Assistance Report-Implementation of a New Reserve Requirement Framework »

Volume/Issue: 2019/316

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 October 2019

Language: Bosnian

DOI: http://dx.doi.org/10.5089/9781513517711.002

ISBN: 9781513517711

Since 2014, the CBBH has been exposed to a negative spread on the reinvestment of the reserve requirements. Until 2014, the CBBH remunerated reserve requirements on the basis of the returns achieved on their reinve...

Gender Diversity In The Executive Board
			: Progress Report Of The Executive Board To The Board Of Governors

Gender Diversity In The Executive Board : Progress Report Of The Executive Board To The Board Of Governors »

Volume: 19

Series: Policy Papers

Author(s): International Monetary Fund. Secretary's Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 October 2019

DOI: http://dx.doi.org/10.5089/9781513517414.007

ISBN: 9781513517414

Executive Directors underscore the importance of promoting gender diversity at the IMF's Executive Board and the Offices of Executive Directors (OEDs). The Executive Board recognizes that a diversity of views contr...

Bosnia and Herzegovina
			: Technical Assistance Report-Implementation of a New Reserve Requirement Framework

Bosnia and Herzegovina : Technical Assistance Report-Implementation of a New Reserve Requirement Framework »

Volume/Issue: 2019/316

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 October 2019

DOI: http://dx.doi.org/10.5089/9781513517469.002

ISBN: 9781513517469

Keywords: Central banking and monetary issues, Financial institutions, Central banks, Reserve requirements, Monetary policy instruments, ISCR, CR, excess reserve, reserve requirement, remuneration

This Technical Assistance (TA) report on Bosnia and Herzegovina highlights that the negative spread in a context of structural lower returns on foreign exchange reserves and sizable capital inflows has led to a gra...

Global Financial Stability Report, October 2019
			: Lower for Longer

Global Financial Stability Report, October 2019 : Lower for Longer »

Series: Global Financial Stability Report

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 October 2019

DOI: http://dx.doi.org/10.5089/9781498324021.082

ISBN: 9781498324021

Keywords: global financial stability, us dollar funding fragility, emerging markets

The October 2019 Global Financial Stability Report (GFSR) identifies the current key vulnerabilities in the global financial system as the rise in corporate debt burdens, increasing holdings of riskier and more ill...

Reducing and Redistributing Unpaid Work: Stronger Policies to Support Gender Equality

Reducing and Redistributing Unpaid Work: Stronger Policies to Support Gender Equality »

Volume/Issue: 2019/225

Series: IMF Working Papers

Author(s): Cristian Alonso , Mariya Brussevich , Era Dabla-Norris , Yuko Kinoshita , and Kalpana Kochhar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 October 2019

DOI: http://dx.doi.org/10.5089/9781513514536.001

ISBN: 9781513514536

Keywords: Unpaid Work, Female Labor Force Participation, Gender Equality.

Unpaid work, such as caring for children, the elderly, and household chores represents a significant share of economic activity but is not counted as part of GDP. Women disproportionately shoulder the burden of unp...

The Macroeconomic Effects of Labor and Product Market Reforms in Morocco

The Macroeconomic Effects of Labor and Product Market Reforms in Morocco »

Volume/Issue: 2019/222

Series: IMF Working Papers

Author(s): Babacar Sarr , Mokhtar Benlamine , and Zsuzsa Munkacsi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 October 2019

DOI: http://dx.doi.org/10.5089/9781513513768.001

ISBN: 9781513513768

Keywords: Access to foreign markets, Bankruptcy, Banks, Basket of currency peg, Capital, Capital accumulation, Capital flows, Capital formation, Commodity markets, Commodity prices

This paper studies the macroeconomic effects and sequencing of (LMRs) and product (PMRs) market reforms in Morocco. It finds that introducing LMRs and PMRs simultaneously would add about 2.5 percentage points (pp)...

International Monetary Fund Annual Report 2019 Financial Statements

International Monetary Fund Annual Report 2019 Financial Statements »

Series: Annual Report of the Executive Board

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 October 2019

DOI: http://dx.doi.org/10.5089/9781513511726.011

ISBN: 9781513511726

The audited consolidated financial statements of the International Monetary Fund as of April 30, 2019 and 2018...

State-Owned Enterprises in Bosnia and Herzegovina: Assessing Performance and Oversight

State-Owned Enterprises in Bosnia and Herzegovina: Assessing Performance and Oversight »

Volume/Issue: 2019/201

Series: IMF Working Papers

Author(s): Bobana Cegar , and Francisco Parodi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2019

Language: Bosnian

DOI: http://dx.doi.org/10.5089/9781513515977.001

ISBN: 9781513515977

Keywords: State-Owned Enterprises, Bosnia and Herzegovina, Financial Performance, SOE Governance

Based on a new database of State-Owned Enterprise (SOE) financial statements, we find that SOEs in Bosnia and Herzegovina are mostly in poor financial shape. We estimate the overall size and composition of the SOE...

Selected Decisions and Selected Documents of the International Monetary Fund, Fortieth Issue

Selected Decisions and Selected Documents of the International Monetary Fund, Fortieth Issue »

Series: Selected Decisions

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2019

DOI: http://dx.doi.org/10.5089/9781498318983.014

ISBN: 9781498318983

Keywords: Special Drawing Rights, Balance of payments, International monetary system, Exchange rates, Currencies, SELD, executive board, SDRs, staff report, manage director

Selected Decisions and Selected Documents of the International Monetary Fund, Fortieth Issue...

The Economics and Implications of Data
			: An Integrated Perspective

The Economics and Implications of Data : An Integrated Perspective »

Volume/Issue: 2019/16

Series: Departmental Papers / Policy Papers

Author(s): Yan Carriere-Swallow , and Vikram Haksar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 September 2019

DOI: http://dx.doi.org/10.5089/9781513511436.087

ISBN: 9781513511436

Keywords: Data; growth; inequality; privacy; consumer protection; competition; financial stability; cyber-security

This SPR Departmental Paper will provide policymakers with a framework for studying changes to national data policy frameworks....

The Level REER model in the External Balance Assessment (EBA) Methodology

The Level REER model in the External Balance Assessment (EBA) Methodology »

Volume/Issue: 2019/192

Series: IMF Working Papers

Author(s): Rui Mano , Carolina Osorio Buitron , Luca Ricci , and Mauricio Vargas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 September 2019

DOI: http://dx.doi.org/10.5089/9781513511023.007

ISBN: 9781513511023

Keywords: Real exchange rate assessments; external imbalances

This paper offers an empirical model of the drivers of the level of the Real Effective Exchange Rate (REER) that is now part of the IMF's methodology for the assessment of external positions, including exchange rat...

Maldives
			: 2007 Article IV Consultation-Public Information Notice; Staff Report; and Statement by the Executive Director for Maldives

Maldives : 2007 Article IV Consultation-Public Information Notice; Staff Report; and Statement by the Executive Director for Maldives »

Volume/Issue: 2019/282

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 September 2019

DOI: http://dx.doi.org/10.5089/9781513512464.002

ISBN: 9781513512464

This 2005 Article IV Consultation with Maldives discusses that Maldives has rebounded strongly from the tsunami of late 2004. Gross domestic product has grown rapidly, underpinned by a robust increase in tourist ar...

People's Republic of China
			: Selected Issues

People's Republic of China : Selected Issues »

Volume/Issue: 2019/274

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 August 2019

Language: Chinese

DOI: http://dx.doi.org/10.5089/9781513511306.002

ISBN: 9781513511306

Selected Issues...

Do Old Habits Die Hard? Central Banks and the Bretton Woods Gold Puzzle

Do Old Habits Die Hard? Central Banks and the Bretton Woods Gold Puzzle »

Volume/Issue: 2019/161

Series: IMF Working Papers

Author(s): Eric Monnet , and Damien Puy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 July 2019

DOI: http://dx.doi.org/10.5089/9781498326773.001

ISBN: 9781498326773

Keywords: Monetary statistics, International monetary system, Economic stabilization, Exchange rate policy, Central banks, Bretton Woods, gold, foreign reserves, gold standard, culture

Why did monetary authorities hold large gold reserves under Bretton Woods (1944-1971) when only the US had to? We argue that gold holdings were driven by institutional memory and persistent habits of central bank...

Assessing IMF Lending: a Model of Sample Selection

Assessing IMF Lending: a Model of Sample Selection »

Volume/Issue: 2019/157

Series: IMF Working Papers

Author(s): Nicolas Mäder , Jean-Guillaume Poulain , and Julien Reynaud

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2019

DOI: http://dx.doi.org/10.5089/9781498324618.001

ISBN: 9781498324618

Keywords: Supply and demand, Financial crises, Exchange rate depreciation, Foreign exchange reserves, Economic integration, IMF lending, Sample selection, VIX, Poulain, potential need

Extending previous work on the determinants of IMF lending in an interconnected world, we introduce a model of sample selection in which both selection and size dimensions of individual IMF arrangements are present...

Review Of The Fund's Income Position For FY 2019 And FY 2020

Review Of The Fund's Income Position For FY 2019 And FY 2020 »

Volume: 19

Series: Policy Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 June 2019

DOI: http://dx.doi.org/10.5089/9781498322904.007

ISBN: 9781498322904

Keywords: SDR interest rates, Special charges, Interest rates, Rate of charge, Reserve currencies, Income Position, GRA, basis point, special charge, special reserve

This paper reviews the Fund's income position for FY 2019 and FY 2020. The paper updates projections provided in April 2018 and proposes decisions for the current year. The paper includes a comprehensive review of...

Poverty Reduction and Growth Trust-Review of the Interest Rate Structure-Postponement

Poverty Reduction and Growth Trust-Review of the Interest Rate Structure-Postponement »

Volume: 19

Series: Policy Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2019

DOI: http://dx.doi.org/10.5089/9781498321365.007

ISBN: 9781498321365

This paper proposes to postpone the deadline for the next interest rate review by six months in light of the timing of the second stage of the Low-Income Countries (LIC) Facilities Review, and to maintain the zero...

List of IMF Member Countries with Delays in Completion of Article IV Consultations or Mandatory Financial Stability Assessments over 18 Months

List of IMF Member Countries with Delays in Completion of Article IV Consultations or Mandatory Financial Stability Assessments over 18 Months »

Volume: 19

Series: Policy Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2019

DOI: http://dx.doi.org/10.5089/9781498321068.007

ISBN: 9781498321068

In accordance with Executive Board Decision No. 15106-(12/21), the Fund will publish on its external website a list of member countries whose Article IV consultations or mandatory financial stability assessments ha...

People's Republic of China
			: Report on the Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

People's Republic of China : Report on the Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism »

Volume/Issue: 2019/173

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 June 2019

DOI: http://dx.doi.org/10.5089/9781498320733.002

ISBN: 9781498320733

China has undertaken a number of initiatives since 2002 that have contributed positively to its understanding of ML/TF risk, although some important gaps remain. Its framework for domestic AML/CFT cooperation and...

Statement by the Managing Director on the Independent Evaluation Office Report on the IMF Advice on Unconventional Monetary Policies

Statement by the Managing Director on the Independent Evaluation Office Report on the IMF Advice on Unconventional Monetary Policies »

Volume/Issue: 2019/022

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2019

DOI: http://dx.doi.org/10.5089/9781498321334.007

ISBN: 9781498321334

Keywords: Press Release - Independent Evaluation Office

I welcome the report of the Independent Evaluation Office (IEO) on the IMF Advice on Unconventional Monetary Policies (UMP). The report recognizes that the Fund's engagement on UMP since the Global Financial Crisis...

Trade Tensions, Global Value Chains, and Spillovers
			: Insights for Europe

Trade Tensions, Global Value Chains, and Spillovers : Insights for Europe »

Volume/Issue: 2019/10

Series: Departmental Papers / Policy Papers

Author(s): Raju Huidrom , Nemanja Jovanovic , Carlos Mulas-Granados , Laura Papi , Faezeh Raei , Emil Stavrev , and Philippe Wingender

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2019

DOI: http://dx.doi.org/10.5089/9781498315135.087

ISBN: 9781498315135

Keywords: Supply, Tariffs, Economic growth, Spillovers, Trade, Regional trade, Trade Tensions;Global value Chains;Supply Chains;Growth;Tariffs;Spillovers

Europe is deeply integrated into global value chains and recent trade tensions raise the question of how European economies would be affected by the introduction of tariffs or other trade barriers. This paper estim...

Bhutan
			: Technical Assistance Report-Royal Monetary Authority-Steps Towards a Liquidity Forecasting and Management Framework

Bhutan : Technical Assistance Report-Royal Monetary Authority-Steps Towards a Liquidity Forecasting and Management Framework »

Volume/Issue: 2019/114

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 April 2019

DOI: http://dx.doi.org/10.5089/9781498312417.002

ISBN: 9781498312417

Keywords: Bank credit, Central bank independence, Central banks, Central bank operations, Central bank role, RMA, interbank, consolidated account, money market, government account

This Technical Assistance report highlights that setting up a liquidity forecasting framework would go a long way in establishing a key building block allowing the Royal Monetary Authority of Bhutan (RMA) to fulfil...

Annual Report on Exchange Arrangements and Exchange Restrictions 2018

Annual Report on Exchange Arrangements and Exchange Restrictions 2018 »

Series: Annual Report on Exchange Arrangements and Exchange Restrictions

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 April 2019

DOI: http://dx.doi.org/10.5089/9781484396773.081

ISBN: 9781484396773

Keywords: AREAER, AREAER 2018, exchange, foreign exchange, exchange rate, currency, market

The Annual Report on Exchange Arrangements and Exchange Restrictions has been published by the IMF since 1950. It draws on information available to the IMF from a number of sources, including that provided in the c...

Finance & Development, December 2018

Finance & Development, December 2018 »

Volume: 55

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 March 2019

Language: Chinese

DOI: http://dx.doi.org/10.5089/9781484386286.022

ISBN: 9781484386286

Keywords: Finance and Development

Finance and Development...

Determinants of Currency Composition of Reserves: a Portfolio Theory Approach with an Application to RMB

Determinants of Currency Composition of Reserves: a Portfolio Theory Approach with an Application to RMB »

Volume/Issue: 2019/52

Series: IMF Working Papers

Author(s): Yinqiu Lu , and Yilin Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 March 2019

DOI: http://dx.doi.org/10.5089/9781498302562.001

ISBN: 9781498302562

Keywords: Central banks, Capital account convertibility, Central bank aggregates, Investment policy, Monetary authorities, currency composition, FX reserves, portfolio theory, RMB, numeraire

The way central banks manage their foreign reserve assets has evolved over the past decades. One major trend is managing reserves in two or more tranches-liquidity tranche and investment tranche-especially for thos...

Finance & Development, March 2019

Finance & Development, March 2019 »

Volume: 56

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2019

Language: Arabic

DOI: http://dx.doi.org/10.5089/9781484398807.022

ISBN: 9781484398807

Keywords: Finance and Development

Finance and Development...

Finance & Development, March 2019

Finance & Development, March 2019 »

Volume: 56

Series: Finance & Development

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2019

Language: Russian

DOI: http://dx.doi.org/10.5089/9781484398838.022

ISBN: 9781484398838

Keywords: Finance and Development

Finance and Development...

Financial Inclusion of Small and Medium-Sized Enterprises in the Middle East and Central Asia

Financial Inclusion of Small and Medium-Sized Enterprises in the Middle East and Central Asia »

Volume/Issue: 2019/2

Series: Departmental Papers / Policy Papers

Author(s): Nicolas Blancher , Maximiliano Appendino , Aidyn Bibolov , Armand Fouejieu , Jiawei Li , Anta Ndoye , Alexandra Panagiotakopoulou , Wei Shi , and Tetyana Sydorenko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 February 2019

Language: Arabic

DOI: http://dx.doi.org/10.5089/9781484396889.087

ISBN: 9781484396889

Keywords: Financial inclusion, Middle East and Central Asia, Business enterprises, Small and Medium Enterprises, Financial Inclusion, Middle East and Central Asia

The importance of financial inclusion is increasingly recognized by policymakers around the world. Small and medium-sized enterprise (SME) financial inclusion, in particular, is at the core of the economic diversif...

Burkina Faso
			: 2018 Article IV Consultation; First Review Under the Extended Credit Facility Arrangement; Request for Waiver for Nonobservance of a Performance Criterion, and Modification of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso

Burkina Faso : 2018 Article IV Consultation; First Review Under the Extended Credit Facility Arrangement; Request for Waiver for Nonobservance of a Performance Criterion, and Modification of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso »

Volume/Issue: 2019/15

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 February 2019

Language: French

DOI: http://dx.doi.org/10.5089/9781498300292.002

ISBN: 9781498300292

Keywords: Burkina Faso, Sub-Saharan Africa

Burkina Faso faces large social and physical infrastructure gaps, a deteriorating security situation, and unease among the rapidly-expanding population about economic prospects. Growth has been robust, averaging mo...

Gabon
			: Third Review under the Extended Arrangement Under the Extended Fund Facility, and Requests for Waiver of Nonobservance of Performance Criterion, and Modifications of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Gabon

Gabon : Third Review under the Extended Arrangement Under the Extended Fund Facility, and Requests for Waiver of Nonobservance of Performance Criterion, and Modifications of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Gabon »

Volume/Issue: 2019/17

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 February 2019

Language: French

DOI: http://dx.doi.org/10.5089/9781498300247.002

ISBN: 9781498300247

Keywords: Sub-Saharan Africa, Gabon

Political risks appear to have subsided with the completion of legislative and local elections in October. The economy is slowly recovering, fiscal consolidation has continued, inflation has remained low, and the t...

Burkina Faso
			: Selected Issues

Burkina Faso : Selected Issues »

Volume/Issue: 2019/16

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 February 2019

Language: French

DOI: http://dx.doi.org/10.5089/9781498300377.002

ISBN: 9781498300377

Keywords: Sub-Saharan Africa, Burkina Faso

Selected Issues...

FinTech in Sub-Saharan African Countries
			: A Game Changer?

FinTech in Sub-Saharan African Countries : A Game Changer? »

Volume/Issue: 2019/4

Series: Departmental Papers / Policy Papers

Author(s): Amadou Sy , Rodolfo Maino , Alexander Massara , Hector Perez Saiz , and Preya Sharma

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 February 2019

DOI: http://dx.doi.org/10.5089/9781484385661.087

ISBN: 9781484385661

Keywords: Sub-Saharan Africa, Financial services, Technological innovation, Financial inclusion, FinTech; Financial Technology; Financial Inclusion; Innovation; Sub-Saharan Africa

FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented in sub-Saharan Africa with the potential to change the competitiv...

Economic Integration in the Maghreb
			: An Untapped Source of Growth

Economic Integration in the Maghreb : An Untapped Source of Growth »

Volume/Issue: 2019/1

Series: Departmental Papers / Policy Papers

Author(s): Alexei Kireyev , Boaz Nandwa , Lorraine Ocampos , Babacar Sarr , Ramzy Al Amine , Allan Auclair , Yufei Cai , and Jean-Francois Dauphin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2019

Language: Arabic

DOI: http://dx.doi.org/10.5089/9781484389843.087

ISBN: 9781484389843

Keywords: Maghreb, Economic Integration, Economic Development, North Africa, Libyan Arab Jamahiriya

Individual countries of the Maghreb have achieved substantial progress on trade, but, as a region they remain the least integrated in the world. The share of intraregional trade is less than 5 percent of their tota...

Economic Integration in the Maghreb
			: An Untapped Source of Growth

Economic Integration in the Maghreb : An Untapped Source of Growth »

Volume/Issue: 2019/1

Series: Departmental Papers / Policy Papers

Author(s): Jean-Francois Dauphin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2019

DOI: http://dx.doi.org/10.5089/9781484378373.087

ISBN: 9781484378373

Keywords: Economic development, Tunisia, Economic integration, Morocco, North Africa, Algeria, Maghreb, Mauritania, Middle East, Maghreb; Economic Integration; Economic Development; North Africa

Individual countries of the Maghreb have achieved substantial progress on trade, but, as a region they remain the least integrated in the world. The share of intraregional trade is less than 5 percent of their tota...

Economic Integration in the Maghreb
			: An Untapped Source of Growth

Economic Integration in the Maghreb : An Untapped Source of Growth »

Volume/Issue: 2019/1

Series: Departmental Papers / Policy Papers

Author(s): Alexei Kireyev , Boaz Nandwa , Lorraine Ocampos , Babacar Sarr , Ramzy Al Amine , Allan Auclair , Yufei Cai , and Jean-Francois Dauphin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2019

Language: French

DOI: http://dx.doi.org/10.5089/9781484389164.087

ISBN: 9781484389164

Keywords: Maghreb; Economic Integration; Economic Development; North Africa, Libyan Arab Jamahiriya

Individual countries of the Maghreb have achieved substantial progress on trade, but, as a region they remain the least integrated in the world. The share of intraregional trade is less than 5 percent of their tota...

Debt Maturity and the Use of Short-Term Debt
			: Evidence form Sovereigns and Firms

Debt Maturity and the Use of Short-Term Debt : Evidence form Sovereigns and Firms »

Volume/Issue: 2019/3

Series: Departmental Papers / Policy Papers

Author(s): Sophia Chen , Paola Ganum , Lucy Qian Liu , Leonardo Martinez , and Maria Martinez Peria

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 February 2019

DOI: http://dx.doi.org/10.5089/9781484380536.087

ISBN: 9781484380536

Keywords: Sovereign debt, Corporate debt, Debt Maturity; Short-term Debt

The maturity structure of debt can have financial and real consequences. Short-term debt exposes borrowers to rollover risk (where the terms of financing are renegotiated to the detriment of the borrower) and is as...

How to Organize Central Securities Depositories in Developing Markets
			: Key Considerations

How to Organize Central Securities Depositories in Developing Markets : Key Considerations »

Volume: 19

Series: IMF How To Notes

Author(s): Froukelien Wendt , Peter Katz , and Alice Zanza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 February 2019

DOI: http://dx.doi.org/10.5089/9781484397312.061

ISBN: 9781484397312

Keywords: Securities markets, Securities regulations, Depositories, Developing countries, Monetary policy

The key objective of this note is to support authorities in their decision making about the optimal organization of central securities depositories (CSDs) in their country. For the purpose of this note, a CSD is de...

Senegal
			: Fiscal Transparency Evaluation

Senegal : Fiscal Transparency Evaluation »

Volume/Issue: 2019/34

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2019

Language: French

DOI: http://dx.doi.org/10.5089/9781484397190.002

ISBN: 9781484397190

Senegal is the first country in sub-Saharan Africa with a Francophone approach to public financial management to volunteer for a fiscal transparency evaluation (FTE). This evaluation applies the standards and pract...

Former Yugoslav Republic of Macedonia
			: 2018 Article IV Consultation; Press Release; Staff Report; and Statement by the Executive Director for Former Yugoslav Republic of Macedonia

Former Yugoslav Republic of Macedonia : 2018 Article IV Consultation; Press Release; Staff Report; and Statement by the Executive Director for Former Yugoslav Republic of Macedonia »

Volume/Issue: 2019/32

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 January 2019

DOI: http://dx.doi.org/10.5089/9781484396704.002

ISBN: 9781484396704

More than twelve years after achieving candidate status, FYR Macedonia's prospects for opening accession negotiations with the European Union are looking hopeful for the first time. The end of the political crisis...

Republic of Armenia
			: Technical Assistance Report-Public Investment Management Assessment

Republic of Armenia : Technical Assistance Report-Public Investment Management Assessment »

Volume/Issue: 2019/33

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 January 2019

DOI: http://dx.doi.org/10.5089/9781484396933.002

ISBN: 9781484396933

Keywords: Accounting standards, Accounting systems, Accrual accounting, Audit process, Auditing, Bank accounting, Budget approval, Budget classification, Budget deficits, Budget execution

This paper discusses results of a technical assistance report prepared to evaluate the quality of Armenia's public investment institutions in the planning, budgeting, and implementation stages of public investment...

Guinea
			: Second Review of the Arrangement under the Three-Year Extended Credit Facility, financing Assurances Review, and Request for a Waiver of Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Guinea

Guinea : Second Review of the Arrangement under the Three-Year Extended Credit Facility, financing Assurances Review, and Request for a Waiver of Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Guinea »

Volume/Issue: 2019/30

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 January 2019

DOI: http://dx.doi.org/10.5089/9781484396636.002

ISBN: 9781484396636

Guinea's strong growth momentum continues. Real growth reached about 10 percent in 2017 and is expected at about 6 percent in 2018 and 2019. However, the social context remains fragile. Risks of political and soci...

Senegal
			: Staff Report for the 2018 Article IV Consultation and Seventh Review Under the Policy Support Instrument and Request for Modification of Assessment Criteria--Debt Sustainability Analysis-Press Release; Staff Report; and Statement by the Executive Director for Senegal

Senegal : Staff Report for the 2018 Article IV Consultation and Seventh Review Under the Policy Support Instrument and Request for Modification of Assessment Criteria--Debt Sustainability Analysis-Press Release; Staff Report; and Statement by the Executive Director for Senegal »

Volume/Issue: 2019/27

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 January 2019

DOI: http://dx.doi.org/10.5089/9781484396254.002

ISBN: 9781484396254

Senegal's main challenge is sustaining high GDP growth rates while maintaining fiscal sustainability and improving the business environment to create jobs for the fast-growing population. The second phase of the Pl...

Kingdom of the Netherlands-Curaçao and Sint Maarten
			: 2018 Article IV Consultation-Press Release and Staff Report

Kingdom of the Netherlands-Curaçao and Sint Maarten : 2018 Article IV Consultation-Press Release and Staff Report »

Volume/Issue: 2019/23

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 January 2019

DOI: http://dx.doi.org/10.5089/9781484395929.002

ISBN: 9781484395929

Weak growth and underlying structural vulnerabilities persist in both Curaçao and Sint Maarten. Worsened macroeconomic conditions-reflecting the spillovers from one of Curaçao's largest trading partners and the dev...

Somalia
			: Technical Assistance Report-Internal Audit and Accounting Training for the Central Bank of Somalia

Somalia : Technical Assistance Report-Internal Audit and Accounting Training for the Central Bank of Somalia »

Volume/Issue: 2019/22

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 January 2019

DOI: http://dx.doi.org/10.5089/9781484395875.002

ISBN: 9781484395875

The CBS has taken steps to establish important pillars of a proper policy framework for financial reporting, auditing, and internal controls by approving the Internal Audit and Audit Committee Charters and is commi...

Nonresident Capital Flows and Volatility: Evidence from Malaysia's Local Currency Bond Market

Nonresident Capital Flows and Volatility: Evidence from Malaysia's Local Currency Bond Market »

Volume/Issue: 2019/23

Series: IMF Working Papers

Author(s): David Grigorian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 January 2019

DOI: http://dx.doi.org/10.5089/9781484393161.001

ISBN: 9781484393161

Keywords: Malaysia, Asia and Pacific, Debt markets, International financial markets, nonresident investors, volatility, Asset Pricing

Malaysia's local currency debt market is one of the most liquid public debt markets in the world. In recent years, the growing share of nonresident holders of debt has been a source of concern for policymakers as a...

Reform Options for Mature Defined Benefit Pension Plans: The Case of the Netherlands

Reform Options for Mature Defined Benefit Pension Plans: The Case of the Netherlands »

Volume/Issue: 2019/22

Series: IMF Working Papers

Author(s): Marc Gerard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 January 2019

DOI: http://dx.doi.org/10.5089/9781484395912.001

ISBN: 9781484395912

Keywords: pension funds, defined benefit plans, defined contribution plans, fully funded, pension mathematics, stress tests

The Netherlands has been operating fully funded, defined benefit second pillar pension schemes that have consistently ranked high worldwide for delivering high replacement rates while featuring strong solidarity am...

Winds of Change
			: The Case for New Digital Currency

Winds of Change : The Case for New Digital Currency »

Series: IMF Speeches

Author(s): International Monetary Fund. Communications Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 January 2019

DOI: http://dx.doi.org/10.5089/9781484389171.076

ISBN: 9781484389171

Winds of Change...

Argentina
			: Technical Assistance Report-Report of the Technical Assistance Mission on External Sector Statistics (April 17-28, 2017)

Argentina : Technical Assistance Report-Report of the Technical Assistance Mission on External Sector Statistics (April 17-28, 2017) »

Volume/Issue: 2019/18

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2019

DOI: http://dx.doi.org/10.5089/9781484395592.002

ISBN: 9781484395592

Keywords: Argentina, Western Hemisphere

At the request of the National Statistics and Census Institute (INDEC), a technical assistance mission on external sector statistics (ESS) visited Buenos Aires during April 17-28, 2017. This was a follow up to the...

Argentina
			: Technical Assistance Report-Technical Assistance Mission on External Sector Statistics (November 14-25, 2016)

Argentina : Technical Assistance Report-Technical Assistance Mission on External Sector Statistics (November 14-25, 2016) »

Volume/Issue: 2019/19

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2019

DOI: http://dx.doi.org/10.5089/9781484395677.002

ISBN: 9781484395677

Keywords: Western Hemisphere, Argentina

At the request of the National Institute of Statistics and Censuses (INDEC), a technical-assistance mission on external-sector statistics (ESS) visited Buenos Aires on November 14-25, 2016. Currently, INDEC's Nat...

Chad
			: Third Review Under the Extended Credit Facility Arrangement, Request for Waiver of Nonobservance of Performance Criterion and Financing Assurances Review-Press Release; Staff Report and Statement by the Executive Director for Chad

Chad : Third Review Under the Extended Credit Facility Arrangement, Request for Waiver of Nonobservance of Performance Criterion and Financing Assurances Review-Press Release; Staff Report and Statement by the Executive Director for Chad »

Volume/Issue: 2019/25

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2019

DOI: http://dx.doi.org/10.5089/9781484396087.002

ISBN: 9781484396087

The current ECF arrangement (access of 160 percent of quota or SDR 224.32 million) was approved on June 30, 2017 in the context of a very difficult and deteriorating social, economic, and financial situation. The c...

Kiribati
			: 2018 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Kiribati

Kiribati : 2018 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Kiribati »

Volume/Issue: 2019/26

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2019

DOI: http://dx.doi.org/10.5089/9781484396131.002

ISBN: 9781484396131

Growth has been strong in recent years and some moderation is expected, with risks skewed to the downside. High fishing revenues improved the fiscal position, but generated pressure to increase spending. There has...

Morocco
			: 2018 Request for an Arrangement Under the Precautionary and Liquidity Line-Press Release; Staff Report; and Statement by the Executive Director for Morocco

Morocco : 2018 Request for an Arrangement Under the Precautionary and Liquidity Line-Press Release; Staff Report; and Statement by the Executive Director for Morocco »

Volume/Issue: 2019/24

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2019

DOI: http://dx.doi.org/10.5089/9781484396001.002

ISBN: 9781484396001

Following the expiration of the third Precautionary and Liquidity Line (PLL) arrangement, in July 2018, the authorities have requested a new PLL arrangement. They did not draw on the last three arrangements and hav...

People's Republic of China-Hong Kong Special Administrative Region
			: 2018 Article IV Consultation-Press Release and Staff Report

People's Republic of China-Hong Kong Special Administrative Region : 2018 Article IV Consultation-Press Release and Staff Report »

Volume/Issue: 2019/20

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2019

DOI: http://dx.doi.org/10.5089/9781484395707.002

ISBN: 9781484395707

Keywords: Asia and Pacific, Hong Kong Special Administrative Region of China

Hong Kong SAR's economy benefitted from a strong cyclical upswing through the first half of 2018, supported by the continued global recovery, buoyant domestic sentiment, and the booming property market. However, ne...

Ukraine
			: Technical Assistance Report-Report on Residential Property Price Index Capacity Development Mission

Ukraine : Technical Assistance Report-Report on Residential Property Price Index Capacity Development Mission »

Volume/Issue: 2019/13

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2019

DOI: http://dx.doi.org/10.5089/9781484394137.002

ISBN: 9781484394137

Keywords: Europe, Ukraine

A technical assistance (TA) mission was conducted during June 18-22, 2018 to support the State Statistics Service of Ukraine (SSSU) in improving the residential property price indexes (RPPI) for Ukraine. This was t...

Commodity Terms of Trade
			: A New Database

Commodity Terms of Trade : A New Database »

Volume/Issue: 2019/21

Series: IMF Working Papers

Author(s): Bertrand Gruss , and Suhaib Kebhaj

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2019

DOI: http://dx.doi.org/10.5089/9781484393857.001

ISBN: 9781484393857

Keywords: Commodity terms of trade; terms of trade; commodity prices, Commodity terms of trade, terms of trade, commodity prices, General

This paper presents a comprehensive database of country-specific commodity price indices for 182 economies covering the period 1962-2018. For each country, the change in the international price of up to 45 individu...

People's Republic of China-Hong Kong Special Administrative Region
			: 2018 Article IV Consultation-Press Release and Staff Report

People's Republic of China-Hong Kong Special Administrative Region : 2018 Article IV Consultation-Press Release and Staff Report »

Volume/Issue: 2019/20

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2019

DOI: http://dx.doi.org/10.5089/9781484395707.002

ISBN: 9781484395707

Keywords: Asia and Pacific, Hong Kong Special Administrative Region of China

Hong Kong SAR's economy benefitted from a strong cyclical upswing through the first half of 2018, supported by the continued global recovery, buoyant domestic sentiment, and the booming property market. However, ne...