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The Development Path Less Traveled

The Development Path Less Traveled »

Source: The Development Path Less Traveled : The Experience of Rwanda

Volume/Issue: 2020/10

Series: Departmental Papers

Author(s): Laure Redifer , Emre Alper , Neil Meads , Tunc Gursoy , Monique Newiak , Alun Thomas , and Samson Kwalingana

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2020

ISBN: 9781513551371

Keywords: Economic development, Economic conditions, Economic integration, Economic policy, Regional economics, Economic growth, Economic recovery, Health indicators, Rwanda, Economic development

This paper explores some of the key factors behind Rwanda key successes, including unique institution-building that emphasized governance and ownership; aid-fueled and government-led strategic investment in people,...

The Development Path Less Traveled
			: The Experience of Rwanda

The Development Path Less Traveled : The Experience of Rwanda »

Volume/Issue: 2020/10

Series: Departmental Papers

Author(s): Laure Redifer , Emre Alper , Neil Meads , Tunc Gursoy , Monique Newiak , Alun Thomas , and Samson Kwalingana

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2020

DOI: http://dx.doi.org/10.5089/9781513551371.087

ISBN: 9781513551371

Keywords: Economic development, Economic conditions, Economic integration, Economic policy, Regional economics, Economic growth, Economic recovery, Health indicators, Rwanda, Economic development

This paper explores some of the key factors behind Rwanda key successes, including unique institution-building that emphasized governance and ownership; aid-fueled and government-led strategic investment in people,...

Chapter 1 External Positions and Policies

Chapter 1 External Positions and Policies »

Source: External Sector Report, 2020 : Global Imbalances and the COVID-19 Crisis

Series: External Sector Report

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

ISBN: 9781513549019

Keywords: External sector, International investment position, External sector assessment, Financial crises, Nominal effective exchange rate, ESR, develop economy, euro area, emerge market, current account balance

This overview chapter discusses the evolution of and outlook for global external positions and summarizes the IMF staff’s external assessments for a globally representative set of economies in 2...

Chapter 2 External Stress and the International Investment Position

Chapter 2 External Stress and the International Investment Position »

Source: External Sector Report, 2020 : Global Imbalances and the COVID-19 Crisis

Series: External Sector Report

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

ISBN: 9781513549019

Keywords: External sector, International investment position, External sector assessment, Financial crises, Nominal effective exchange rate, ESR, develop economy, euro area, emerge market, current account balance

Countries’ external assets and liabilities reached historic highs in the years before the Great Lockdown. This chapter examines the relationship between the structure of external assets and liab...

Chapter 3 2019 Individual Economy Assessments

Chapter 3 2019 Individual Economy Assessments »

Source: External Sector Report, 2020 : Global Imbalances and the COVID-19 Crisis

Series: External Sector Report

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

ISBN: 9781513549019

Keywords: External sector, International investment position, External sector assessment, Financial crises, Nominal effective exchange rate, ESR, develop economy, euro area, emerge market, current account balance

Methodology and Process The individual economy assessments use a wide range of methods to form an integrated and multilaterally consistent view on economies’ external sector position...

External Sector Report, 2020
			: Global Imbalances and the COVID-19 Crisis

External Sector Report, 2020 : Global Imbalances and the COVID-19 Crisis »

Series: External Sector Report

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

DOI: http://dx.doi.org/10.5089/9781513549019.085

ISBN: 9781513549019

Keywords: External sector, International investment position, External sector assessment, Financial crises, Nominal effective exchange rate, ESR, develop economy, euro area, emerge market, current account balance

Produced since 2012, the IMF's annual External Sector Report analyzes global external developments and provides multilaterally consistent assessments of external positions, including current accounts, real exchange...

External Sector Report, 2020: Global Imbalances and the COVID-19 Crisis

External Sector Report, 2020: Global Imbalances and the COVID-19 Crisis »

Source: External Sector Report, 2020 : Global Imbalances and the COVID-19 Crisis

Series: External Sector Report

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

ISBN: 9781513549019

Keywords: External sector, International investment position, External sector assessment, Financial crises, Nominal effective exchange rate, ESR, develop economy, euro area, emerge market, current account balance

Produced since 2012, the IMF's annual External Sector Report analyzes global external developments and provides multilaterally consistent assessments of external positions, including current accounts, real exchange...

Front Matter

Front Matter »

Source: External Sector Report, 2020 : Global Imbalances and the COVID-19 Crisis

Series: External Sector Report

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

ISBN: 9781513549019

Keywords: External sector, International investment position, External sector assessment, Financial crises, Nominal effective exchange rate, ESR, develop economy, euro area, emerge market, current account balance

Produced since 2012, the IMF's annual External Sector Report analyzes global external developments and provides multilaterally consistent assessments of external positions, including current accounts, real exchange...

Accounting Standards and Insurer Solvency Assessment

Accounting Standards and Insurer Solvency Assessment »

Source: Accounting Standards and Insurer Solvency Assessment

Volume/Issue: 2020/146

Series: IMF Working Papers

Author(s): Peter Windsor , Jeffery Yong , and Michelle Chong-Tai Bell

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 July 2020

ISBN: 9781513551807

Keywords: Financial statements, Accounting standards, Macroprudential policies and financial stability, Accounting procedures, Financial instruments, Insurers, Supervisors, IFRS, IFRS 17, Solvency

The paper explores the use of accounting standards for insurer solvency assessment in the context of the implementation of IFRS 17. The paper is based on the results of a survey of 20 insurance supervisors. Overall...

Accounting Standards and Insurer Solvency Assessment

Accounting Standards and Insurer Solvency Assessment »

Volume/Issue: 2020/146

Series: IMF Working Papers

Author(s): Peter Windsor , Jeffery Yong , and Michelle Chong-Tai Bell

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 July 2020

DOI: http://dx.doi.org/10.5089/9781513551807.001

ISBN: 9781513551807

Keywords: Financial statements, Accounting standards, Macroprudential policies and financial stability, Accounting procedures, Financial instruments, Insurers, Supervisors, IFRS, IFRS 17, Solvency

The paper explores the use of accounting standards for insurer solvency assessment in the context of the implementation of IFRS 17. The paper is based on the results of a survey of 20 insurance supervisors. Overall...

Burundi: Request for Debt Relief Under the Catastrophe Containment and Relief Trust—Press Release; Staff Report; and Statement by the Executive Director For Burundi

Burundi: Request for Debt Relief Under the Catastrophe Containment and Relief Trust—Press Release; Staff Report; and Statement by the Executive Director For Burundi »

Source: Burundi : Request for Debt Relief Under the Catastrophe Containment and Relief Trust-Press Release; Staff Report; and Statement by the Executive Director for Burundi

Volume/Issue: 192020/224

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2020

ISBN: 9781513551159

Keywords: Social safety nets, Balance of payments need, Debt service, Debt relief, Balance of payments, ISCR, CR, Proj, pandemic, remittance inflow

Economic impact. COVID-19 is having an adverse economic impact on Burundi. The pandemic is affecting Burundi through an evolving domestic outbreak and economic spillovers from the global and regional environment, i...

IMF Executive Board Approves US$ 7.6 Million Debt Relief to the Republic of Burundi Under the Catastrophe Containment and Relief Trust

IMF Executive Board Approves US$ 7.6 Million Debt Relief to the Republic of Burundi Under the Catastrophe Containment and Relief Trust »

Source: Burundi : Request for Debt Relief Under the Catastrophe Containment and Relief Trust-Press Release; Staff Report; and Statement by the Executive Director for Burundi

Volume/Issue: 192020/224

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2020

ISBN: 9781513551159

Keywords: Social safety nets, Balance of payments need, Debt service, Debt relief, Balance of payments, ISCR, CR, Proj, pandemic, remittance inflow

Economic impact. COVID-19 is having an adverse economic impact on Burundi. The pandemic is affecting Burundi through an evolving domestic outbreak and economic spillovers from the global and regional environment, i...

Burundi
			: Request for Debt Relief Under the Catastrophe Containment and Relief Trust-Press Release; Staff Report; and Statement by the Executive Director for Burundi

Burundi : Request for Debt Relief Under the Catastrophe Containment and Relief Trust-Press Release; Staff Report; and Statement by the Executive Director for Burundi »

Volume/Issue: 192020/224

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2020

DOI: http://dx.doi.org/10.5089/9781513551159.002

ISBN: 9781513551159

Keywords: Social safety nets, Balance of payments need, Debt service, Debt relief, Balance of payments, ISCR, CR, Proj, pandemic, remittance inflow

Economic impact. COVID-19 is having an adverse economic impact on Burundi. The pandemic is affecting Burundi through an evolving domestic outbreak and economic spillovers from the global and regional environment, i...

Statement by Mr. Dumisani Mahlinza, Executive Director for Burundi, and Mr. Tamsir Cham, Advisor to the Executive Director July 20, 2020

Statement by Mr. Dumisani Mahlinza, Executive Director for Burundi, and Mr. Tamsir Cham, Advisor to the Executive Director July 20, 2020 »

Source: Burundi : Request for Debt Relief Under the Catastrophe Containment and Relief Trust-Press Release; Staff Report; and Statement by the Executive Director for Burundi

Volume/Issue: 192020/224

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2020

ISBN: 9781513551159

Keywords: Social safety nets, Balance of payments need, Debt service, Debt relief, Balance of payments, ISCR, CR, Proj, pandemic, remittance inflow

Economic impact. COVID-19 is having an adverse economic impact on Burundi. The pandemic is affecting Burundi through an evolving domestic outbreak and economic spillovers from the global and regional environment, i...

Do Monetary Policy Frameworks Matter in Low Income Countries?

Do Monetary Policy Frameworks Matter in Low Income Countries? »

Source: Do Monetary Policy Frameworks Matter in Low Income Countries?

Volume/Issue: 2020/139

Series: IMF Working Papers

Author(s): Alina Carare , Carlos de Resende , Andrew Levin , and Chelsea Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 July 2020

ISBN: 9781513550671

Keywords: Economic theory, Monetary policy, Financial crises, Central banks, Purchasing power, Monetary policy frameworks, transmission of shocks, growth, low-income countries, WP

In recent years, many Low-Income Countries (LICs) have implemented substantial reforms to their monetary policy frameworks, but existing economic research has not provided a clear rationale to guide those efforts....

Harnessing Digital Technologies to Promote SMEs in the MENAP Region

Harnessing Digital Technologies to Promote SMEs in the MENAP Region »

Source: Harnessing Digital Technologies to Promote SMEs in the MENAP Region

Volume/Issue: 2020/135

Series: IMF Working Papers

Author(s): Inutu Lukonga

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 July 2020

ISBN: 9781513550770

Keywords: Economic conditions, Supply and demand, Financial systems, Financial institutions, Financial services, Digitalization, Digital Technologies, Inclusive Growth, MENAP Region., WP

Policy makers in the MENAP region have been formulating policies and designing programs to develop small and medium sized enterprises (SMEs) with a view to create jobs and achieve inclusive growth. But while the pr...

Do Monetary Policy Frameworks Matter in Low Income Countries?

Do Monetary Policy Frameworks Matter in Low Income Countries? »

Volume/Issue: 2020/139

Series: IMF Working Papers

Author(s): Alina Carare , Carlos de Resende , Andrew Levin , and Chelsea Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 July 2020

DOI: http://dx.doi.org/10.5089/9781513550671.001

ISBN: 9781513550671

Keywords: Economic theory, Monetary policy, Financial crises, Central banks, Purchasing power, Monetary policy frameworks, transmission of shocks, growth, low-income countries, WP

In recent years, many Low-Income Countries (LICs) have implemented substantial reforms to their monetary policy frameworks, but existing economic research has not provided a clear rationale to guide those efforts....

Harnessing Digital Technologies to Promote SMEs in the MENAP Region

Harnessing Digital Technologies to Promote SMEs in the MENAP Region »

Volume/Issue: 2020/135

Series: IMF Working Papers

Author(s): Inutu Lukonga

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 July 2020

DOI: http://dx.doi.org/10.5089/9781513550770.001

ISBN: 9781513550770

Keywords: Economic conditions, Supply and demand, Financial systems, Financial institutions, Financial services, Digitalization, Digital Technologies, Inclusive Growth, MENAP Region., WP

Policy makers in the MENAP region have been formulating policies and designing programs to develop small and medium sized enterprises (SMEs) with a view to create jobs and achieve inclusive growth. But while the pr...

Raising Tax Revenue: How to Get More from Tax Administrations?

Raising Tax Revenue: How to Get More from Tax Administrations? »

Volume/Issue: 2020/142

Series: IMF Working Papers

Author(s): Eui Soon Chang , Elizabeth Gavin , Nikolay Gueorguiev , and Jiro Honda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 July 2020

DOI: http://dx.doi.org/10.5089/9781513550831.001

ISBN: 9781513550831

Keywords: Tax revenue, Tax administration, Tax policy, Revenue administration, Tax collection, tax administrations, tax collections, administrative practices, tax operational strength, WP

Can we empirically show the benefits of improving the practices and characteristics of tax administration agencies for revenue collection? While many country experiences suggest a strong link, there is little syste...

Who Drains Bond Market Liquidity in an Emerging Market?

Who Drains Bond Market Liquidity in an Emerging Market? »

Volume/Issue: 2020/141

Series: IMF Working Papers

Author(s): Ricardo Hoyos , Yang Liu , Hui Miao , and Christian Saborowski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 July 2020

DOI: http://dx.doi.org/10.5089/9781513550824.001

ISBN: 9781513550824

Keywords: Foreign exchange market volatility, Exchange markets, Bond markets, Debt securities, Government securities, Bond market liquidity, foreign investors, emerging markets, WP, market liquidity

This paper examines the drivers of liquidity shortages in the Mexican government bond market. We use unique transaction- and quote level data with information on end-investors to construct an index of bond market...

Raising Tax Revenue: How to Get More from Tax Administrations?

Raising Tax Revenue: How to Get More from Tax Administrations? »

Source: Raising Tax Revenue: How to Get More from Tax Administrations?

Volume/Issue: 2020/142

Series: IMF Working Papers

Author(s): Eui Soon Chang , Elizabeth Gavin , Nikolay Gueorguiev , and Jiro Honda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 July 2020

ISBN: 9781513550831

Keywords: Tax revenue, Tax administration, Tax policy, Revenue administration, Tax collection, tax administrations, tax collections, administrative practices, tax operational strength, WP

Can we empirically show the benefits of improving the practices and characteristics of tax administration agencies for revenue collection? While many country experiences suggest a strong link, there is little syste...

Who Drains Bond Market Liquidity in an Emerging Market?

Who Drains Bond Market Liquidity in an Emerging Market? »

Source: Who Drains Bond Market Liquidity in an Emerging Market?

Volume/Issue: 2020/141

Series: IMF Working Papers

Author(s): Ricardo Hoyos , Yang Liu , Hui Miao , and Christian Saborowski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 July 2020

ISBN: 9781513550824

Keywords: Foreign exchange market volatility, Exchange markets, Bond markets, Debt securities, Government securities, Bond market liquidity, foreign investors, emerging markets, WP, market liquidity

This paper examines the drivers of liquidity shortages in the Mexican government bond market. We use unique transaction- and quote level data with information on end-investors to construct an index of bond market...

Dominant Currencies and External Adjustment

Dominant Currencies and External Adjustment »

Source: Dominant Currencies and External Adjustment

Volume/Issue: 2020/5

Series: Staff Discussion Notes

Author(s): Gustavo Adler , Camila Casas , Luis Cubeddu , Gita Gopinath , Nan Li , Sergii Meleshchuk , Carolina Osorio Buitron , Damien Puy , and Yannick Timmer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2020

ISBN: 9781513512150

Keywords: Currency exchange rates, External trade, West African Economic and Monetary Union, Foreign currency exposure, Monetary statistics, Flexible exchange rates, Exchange rate pass-through, trade pricing, trade invoicing, exchange rate

The extensive use of the US dollar when firms set prices for international trade (dubbed dominant currency pricing) and in their funding (dominant currency financing) has come to the forefront of policy debate, rai...

Dominant Currencies and External Adjustment

Dominant Currencies and External Adjustment »

Volume/Issue: 2020/5

Series: Staff Discussion Notes

Author(s): Gustavo Adler , Camila Casas , Luis Cubeddu , Gita Gopinath , Nan Li , Sergii Meleshchuk , Carolina Osorio Buitron , Damien Puy , and Yannick Timmer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2020

DOI: http://dx.doi.org/10.5089/9781513512150.006

ISBN: 9781513512150

Keywords: Currency exchange rates, External trade, West African Economic and Monetary Union, Foreign currency exposure, Monetary statistics, Flexible exchange rates, Exchange rate pass-through, trade pricing, trade invoicing, exchange rate

The extensive use of the US dollar when firms set prices for international trade (dubbed dominant currency pricing) and in their funding (dominant currency financing) has come to the forefront of policy debate, rai...

Accounting for Cloud Computing in the National Accounts1

Accounting for Cloud Computing in the National Accounts1 »

Source: Accounting for Cloud Computing in the National Accounts

Volume/Issue: 2020/127

Series: IMF Working Papers

Author(s): Andrew Baer , Kwangwon Lee , and James Tebrake

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 July 2020

ISBN: 9781513550459

Keywords: Business services, Public services, Government services, Gross capital formation, Price indexes, cloud computing, information and communication technology, national accounts, WP, cloud compute

Digitalization and the innovative use of digital technologies is changing the way we work, learn, communicate, buy and sell products. One emerging digital technology of growing importance is cloud computing. More a...

COVID-19 and Emerging Markets: An Epidemiological Model with International Production Networks and Capital Flows*

COVID-19 and Emerging Markets: An Epidemiological Model with International Production Networks and Capital Flows* »

Source: COVID-19 and Emerging Markets: An Epidemiological Model with International Production Networks and Capital Flows

Volume/Issue: 2020/133

Series: IMF Working Papers

Author(s): Cem Cakmakli , Selva Demiralp , Sebnem Kalemli-Ozcan , Sevcan Yesiltas , and Muhammed Yildirim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 July 2020

ISBN: 9781513550183

Keywords: Economic conditions, Economic models, Financial crises, Supply and demand, Economic policy, COVID-19, Debt Monetisation, External Finance, SIR, Input-Output Tables

We quantify the macroeconomic effects of COVID-19 for a small open economy by calibrating a SIR-multi-sector-macro model. We measure sectoral supply shocks utilizing teleworking and physical job proximity, and dema...

Accounting for Cloud Computing in the National Accounts

Accounting for Cloud Computing in the National Accounts »

Volume/Issue: 2020/127

Series: IMF Working Papers

Author(s): Andrew Baer , Kwangwon Lee , and James Tebrake

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 July 2020

DOI: http://dx.doi.org/10.5089/9781513550459.001

ISBN: 9781513550459

Keywords: Business services, Public services, Government services, Gross capital formation, Price indexes, cloud computing, information and communication technology, national accounts, WP, cloud compute

Digitalization and the innovative use of digital technologies is changing the way we work, learn, communicate, buy and sell products. One emerging digital technology of growing importance is cloud computing. More a...

COVID-19 and Emerging Markets: An Epidemiological Model with International Production Networks and Capital Flows

COVID-19 and Emerging Markets: An Epidemiological Model with International Production Networks and Capital Flows »

Volume/Issue: 2020/133

Series: IMF Working Papers

Author(s): Cem Cakmakli , Selva Demiralp , Sebnem Kalemli-Ozcan , Sevcan Yesiltas , and Muhammed Yildirim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 July 2020

DOI: http://dx.doi.org/10.5089/9781513550183.001

ISBN: 9781513550183

Keywords: Economic conditions, Economic models, Financial crises, Supply and demand, Economic policy, COVID-19, Debt Monetisation, External Finance, SIR, Input-Output Tables

We quantify the macroeconomic effects of COVID-19 for a small open economy by calibrating a SIR-multi-sector-macro model. We measure sectoral supply shocks utilizing teleworking and physical job proximity, and dema...

International Trade and Corporate Market Power

International Trade and Corporate Market Power »

Volume/Issue: 2020/131

Series: IMF Working Papers

Author(s): Jesus Gonzalez-Garcia , and Yuanchen Yang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 July 2020

DOI: http://dx.doi.org/10.5089/9781513550473.001

ISBN: 9781513550473

Keywords: Real sector, Economic policy, Economic reforms, Patterns of trade, Bilateral trade, Commodity trade, competition, developing countries, emerging markets, international trade

This paper examines the effect of international trade on corporate market power in emerging market economies and developing countries, with a special focus on sub-Saharan Africa. The analysis is based on a large fi...

Patterns in Invoicing Currency in Global Trade

Patterns in Invoicing Currency in Global Trade »

Volume/Issue: 2020/126

Series: IMF Working Papers

Author(s): Emine Boz , Camila Casas , Georgios Georgiadis , Gita Gopinath , Helena Le Mezo , Arnaud Mehl , and Tra Nguyen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 July 2020

DOI: http://dx.doi.org/10.5089/9781513550435.001

ISBN: 9781513550435

Keywords: International monetary system, Exchange rate policy, Balance of payments, Economic policy, Central banks, invoicing currency of trade, dominant currency paradigm, exchange rate pass-through, WP, share of export

This paper presents the most comprehensive and up-to-date panel data set of invoicing currencies in global trade. It provides data on the shares of exports and imports invoiced in US dollars, euros, and other curre...

International Trade and Corporate Market Power*

International Trade and Corporate Market Power* »

Source: International Trade and Corporate Market Power

Volume/Issue: 2020/131

Series: IMF Working Papers

Author(s): Jesus Gonzalez-Garcia , and Yuanchen Yang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 July 2020

ISBN: 9781513550473

Keywords: Real sector, Economic policy, Economic reforms, Patterns of trade, Bilateral trade, Commodity trade, competition, developing countries, emerging markets, international trade

This paper examines the effect of international trade on corporate market power in emerging market economies and developing countries, with a special focus on sub-Saharan Africa. The analysis is based on a large fi...

Patterns in Invoicing Currency in Global Trade1

Patterns in Invoicing Currency in Global Trade1 »

Source: Patterns in Invoicing Currency in Global Trade

Volume/Issue: 2020/126

Series: IMF Working Papers

Author(s): Emine Boz , Camila Casas , Georgios Georgiadis , Gita Gopinath , Helena Le Mezo , Arnaud Mehl , and Tra Nguyen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 July 2020

ISBN: 9781513550435

Keywords: International monetary system, Exchange rate policy, Balance of payments, Economic policy, Central banks, invoicing currency of trade, dominant currency paradigm, exchange rate pass-through, WP, share of export

This paper presents the most comprehensive and up-to-date panel data set of invoicing currencies in global trade. It provides data on the shares of exports and imports invoiced in US dollars, euros, and other curre...

Reexamining the National Savings-Investment Nexus Across Time and Countries

Reexamining the National Savings-Investment Nexus Across Time and Countries »

Volume/Issue: 2020/124

Series: IMF Working Papers

Author(s): Antonio David , Carlos Eduardo Gonçalves , and Alejandro Werner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 July 2020

DOI: http://dx.doi.org/10.5089/9781513548579.001

ISBN: 9781513548579

Keywords: Business cycles, Financial crises, Domestic savings, Development, Private savings, Feldstein-Horioka Puzzle, Investment, Savings, Causality, WP

Domestic savings and investment are positively correlated across countries and through time, as Feldstein-Horioka (FH) unveiled 40 years ago. We argue that an interpretation of this correlation based on market fail...

Reexamining the National Savings-Investment Nexus Across Time and Countries1

Reexamining the National Savings-Investment Nexus Across Time and Countries1 »

Source: Reexamining the National Savings-Investment Nexus Across Time and Countries

Volume/Issue: 2020/124

Series: IMF Working Papers

Author(s): Antonio David , Carlos Eduardo Gonçalves , and Alejandro Werner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 July 2020

ISBN: 9781513548579

Keywords: Business cycles, Financial crises, Domestic savings, Development, Private savings, Feldstein-Horioka Puzzle, Investment, Savings, Causality, WP

Domestic savings and investment are positively correlated across countries and through time, as Feldstein-Horioka (FH) unveiled 40 years ago. We argue that an interpretation of this correlation based on market fail...

Statement by The Managing Director on the Work Program of The Executive Board
			: June 11, 2020

Statement by The Managing Director on the Work Program of The Executive Board : June 11, 2020 »

Volume: 20

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 July 2020

DOI: http://dx.doi.org/10.5089/9781513549781.007

ISBN: 9781513549781

Keywords: External sector, Financial sector development, Regional economics, Financial markets, Macroprudential policies and financial stability, PP, briefing, policy response, financial development, DSSI

The COVID 19 crisis continues to take a heavy human and economic toll. The outlook remains highly uncertain as many countries are facing the economic fallout of the pandemic. This has led to an unprecedented surge...

Statement by The Managing Director on the Work Program of The Executive Board

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

Source: Statement by The Managing Director on the Work Program of The Executive Board : June 11, 2020

Volume: 20

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 July 2020

ISBN: 9781513549781

Keywords: External sector, Financial sector development, Regional economics, Financial markets, Macroprudential policies and financial stability, PP, briefing, policy response, financial development, DSSI

The COVID 19 crisis continues to take a heavy human and economic toll. The outlook remains highly uncertain as many countries are facing the economic fallout of the pandemic. This has led to an unprecedented surge...

A Conceptual Model for the Integrated Policy Framework1

A Conceptual Model for the Integrated Policy Framework1 »

Source: A Conceptual Model for the Integrated Policy Framework

Volume/Issue: 2020/121

Series: IMF Working Papers

Author(s): Suman Basu , Emine Boz , Gita Gopinath , Francisco Roch , and Filiz Unsal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 July 2020

ISBN: 9781513549729

Keywords: Exchange markets, Foreign exchange reserves, Capital controls, Central banks, Foreign exchange intervention, exchange rate flexibility, monetary policy, macroprudential regulation, WP, capital control

In the Mundell-Fleming framework, standard monetary policy and exchange rate flexibility fully insulate economies from shocks. However, that framework abstracts from many real world imperfections, and countries oft...

Republic of Kosovo
			: Technical Assistance Report-Financial Sector Stability Review

Republic of Kosovo : Technical Assistance Report-Financial Sector Stability Review »

Volume/Issue: 192020/217

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 July 2020

DOI: http://dx.doi.org/10.5089/9781513549682.002

ISBN: 9781513549682

Keywords: Financial regulation and supervision, Financial crises, Macroprudential policies and financial stability, Financial markets, Financial institutions, ISCR, CR, CBK, MFIs, CBB

The FSSR mission team conducted a diagnostic review of CBK governance and of the financial system, undertook a stocktaking of the implementation of recommendations from the 2012 Financial Sector Assessment Program...

A Conceptual Model for the Integrated Policy Framework

A Conceptual Model for the Integrated Policy Framework »

Volume/Issue: 2020/121

Series: IMF Working Papers

Author(s): Suman Basu , Emine Boz , Gita Gopinath , Francisco Roch , and Filiz Unsal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 July 2020

DOI: http://dx.doi.org/10.5089/9781513549729.001

ISBN: 9781513549729

Keywords: Exchange markets, Foreign exchange reserves, Capital controls, Central banks, Foreign exchange intervention, exchange rate flexibility, monetary policy, macroprudential regulation, WP, capital control

In the Mundell-Fleming framework, standard monetary policy and exchange rate flexibility fully insulate economies from shocks. However, that framework abstracts from many real world imperfections, and countries oft...

A Quantitative Model for the Integrated Policy Framework

A Quantitative Model for the Integrated Policy Framework »

Volume/Issue: 2020/122

Series: IMF Working Papers

Author(s): Tobias Adrian , Christopher Erceg , Jesper Lindé , Pawel Zabczyk , and Jianping Zhou

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 July 2020

DOI: http://dx.doi.org/10.5089/9781513549668.001

ISBN: 9781513549668

Keywords: Purchasing power, Supply and demand, Exchange rate policy, Exchange premiums, Exchange markets, Monetary Policy, FX Intervention, Emerging Economies, DSGE Model., WP

Many central banks have relied on a range of policy tools, including foreign exchange intervention (FXI) and capital flow management tools (CFMs), to mitigate the effects of volatile capital flows on their economie...

Leaning Against the Wind: A Cost-Benefit Analysis for an Integrated Policy Framework

Leaning Against the Wind: A Cost-Benefit Analysis for an Integrated Policy Framework »

Volume/Issue: 2020/123

Series: IMF Working Papers

Author(s): Luis Brandao-Marques , R. Gelos , Machiko Narita , and Erlend Nier

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 July 2020

DOI: http://dx.doi.org/10.5089/9781513549651.001

ISBN: 9781513549651

Keywords: Monetary policy, Economic policy, Central banks, Macroprudential policies and financial stability, Nominal effective exchange rate, Macroprudential Policy, FX Interventions, Capital Flow Management, Cost-Benefit Analysis, WP

This paper takes a new approach to assess the costs and benefits of using different policy tools-macroprudential, monetary, foreign exchange interventions, and capital flow management-in response to changes in fina...

Leaning Against the Wind: A Cost-Benefit Analysis for an Integrated Policy Framework

Leaning Against the Wind: A Cost-Benefit Analysis for an Integrated Policy Framework »

Source: Leaning Against the Wind: A Cost-Benefit Analysis for an Integrated Policy Framework

Volume/Issue: 2020/123

Series: IMF Working Papers

Author(s): Luis Brandao-Marques , R. Gelos , Machiko Narita , and Erlend Nier

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 July 2020

ISBN: 9781513549651

Keywords: Monetary policy, Economic policy, Central banks, Macroprudential policies and financial stability, Nominal effective exchange rate, Macroprudential Policy, FX Interventions, Capital Flow Management, Cost-Benefit Analysis, WP

This paper takes a new approach to assess the costs and benefits of using different policy tools-macroprudential, monetary, foreign exchange interventions, and capital flow management-in response to changes in fina...

A Quantitative Model for the Integrated Policy Framework

A Quantitative Model for the Integrated Policy Framework »

Source: A Quantitative Model for the Integrated Policy Framework

Volume/Issue: 2020/122

Series: IMF Working Papers

Author(s): Tobias Adrian , Christopher Erceg , Jesper Lindé , Pawel Zabczyk , and Jianping Zhou

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 July 2020

ISBN: 9781513549668

Keywords: Purchasing power, Supply and demand, Exchange rate policy, Exchange premiums, Exchange markets, Monetary Policy, FX Intervention, Emerging Economies, DSGE Model., WP

Many central banks have relied on a range of policy tools, including foreign exchange intervention (FXI) and capital flow management tools (CFMs), to mitigate the effects of volatile capital flows on their economie...

Republic of Kosovo

Republic of Kosovo »

Source: Republic of Kosovo : Technical Assistance Report-Financial Sector Stability Review

Volume/Issue: 192020/217

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 July 2020

ISBN: 9781513549682

Keywords: Financial regulation and supervision, Financial crises, Macroprudential policies and financial stability, Financial markets, Financial institutions, ISCR, CR, CBK, MFIs, CBB

The FSSR mission team conducted a diagnostic review of CBK governance and of the financial system, undertook a stocktaking of the implementation of recommendations from the 2012 Financial Sector Assessment Program...

Agricultural Market Integration in India

Agricultural Market Integration in India »

Source: Agricultural Market Integration in India

Volume/Issue: 2020/115

Series: IMF Working Papers

Author(s): Michal Andrle , and Patrick Blagrave

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2020

ISBN: 9781513549163

Keywords: Cost of living, Supply and demand, Agricultural commodities, Agricultural product marketing, Price dispersion, Market integration, Price transmission, India, WP, cross-market

We assess the degree of cross-market price discrepancy (a proxy for market integration), its evolution over time, and proximate determinants, using monthly price data for 21 agricultural goods and 60 markets in Ind...

Gender Inequality and Economic Growth: Evidence from Industry-Level Data1

Gender Inequality and Economic Growth: Evidence from Industry-Level Data1 »

Source: Gender Inequality and Economic Growth: Evidence from Industry-Level Data

Volume/Issue: 2020/119

Series: IMF Working Papers

Author(s): Ata Can Bertay , Ljubica Dordevic , and Can Sever

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2020

ISBN: 9781513546278

Keywords: Economic growth, Population growth, Labor force participation, Infant mortality rates, Manufacturing sector, economic development, gender inequality, WP, female share, GII

We study whether higher gender equality facilitates economic growth by enabling better allocation of a valuable resource: female labor. By allocating female labor to its more productive use, we hypothesize that red...

Global Banks' Dollar Funding: A Source of Financial Vulnerability

Global Banks' Dollar Funding: A Source of Financial Vulnerability »

Source: Global Banks' Dollar Funding: A Source of Financial Vulnerability

Volume/Issue: 2020/113

Series: IMF Working Papers

Author(s): Adolfo Barajas , Andrea Deghi , Claudio Raddatz , Dulani Seneviratne , Peichu Xie , and Yizhi Xu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2020

ISBN: 9781513549149

Keywords: External sector, Financial crises, Financial institutions, Macroprudential policies and financial stability, Financial systems, US dollar funding, financial stability risks, cross-currency basis, global banks, international liquidity

Leading up to the global financial crisis, US dollar activity by global banks headquartered outside the United States played a crucial role in transmitting shocks originating in funding markets. Although post-crisi...

Global Value Chains and Productivity: Micro Evidence from Estonia*

Global Value Chains and Productivity: Micro Evidence from Estonia* »

Source: Global Value Chains and Productivity: Micro Evidence from Estonia

Volume/Issue: 2020/117

Series: IMF Working Papers

Author(s): Hang Banh , Philippe Wingender , and Cheikh Gueye

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2020

ISBN: 9781513542300

Keywords: Total factor productivity, Economic growth, Price indexes, Financial crises, Labor productivity, global value chains, trade, productivity, WP, industry level

The COVID-19 pandemic has led to an unprecedented collapse in global economic activity and trade. The crisis has also highlighted the role played by global value chains (GVC), with countries facing shortages of com...

Going Viral: A Gravity Model of Infectious Diseases and Tourism Flows

Going Viral: A Gravity Model of Infectious Diseases and Tourism Flows »

Source: Going Viral: A Gravity Model of Infectious Diseases and Tourism Flows

Volume/Issue: 2020/112

Series: IMF Working Papers

Author(s): Serhan Cevik

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2020

ISBN: 9781513549101

Keywords: Economic growth, Economic recovery, Financial crises, Tourism, Gross domestic product, Infectious diseases, international tourism flows, gravity model, panel data, WP

This paper develops a gravity model framework to estimate the impact of infectious diseases on bilateral tourism flows among 38,184 pairs of countries over the period 1995-2017. The results confirm that internation...

Agricultural Market Integration in India

Agricultural Market Integration in India »

Volume/Issue: 2020/115

Series: IMF Working Papers

Author(s): Michal Andrle , and Patrick Blagrave

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2020

DOI: http://dx.doi.org/10.5089/9781513549163.001

ISBN: 9781513549163

Keywords: Cost of living, Supply and demand, Agricultural commodities, Agricultural product marketing, Price dispersion, Market integration, Price transmission, India, WP, cross-market

We assess the degree of cross-market price discrepancy (a proxy for market integration), its evolution over time, and proximate determinants, using monthly price data for 21 agricultural goods and 60 markets in Ind...

Gender Inequality and Economic Growth: Evidence from Industry-Level Data

Gender Inequality and Economic Growth: Evidence from Industry-Level Data »

Volume/Issue: 2020/119

Series: IMF Working Papers

Author(s): Ata Can Bertay , Ljubica Dordevic , and Can Sever

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2020

DOI: http://dx.doi.org/10.5089/9781513546278.001

ISBN: 9781513546278

Keywords: Economic growth, Population growth, Labor force participation, Infant mortality rates, Manufacturing sector, economic development, gender inequality, WP, female share, GII

We study whether higher gender equality facilitates economic growth by enabling better allocation of a valuable resource: female labor. By allocating female labor to its more productive use, we hypothesize that red...

Global Banks' Dollar Funding: A Source of Financial Vulnerability

Global Banks' Dollar Funding: A Source of Financial Vulnerability »

Volume/Issue: 2020/113

Series: IMF Working Papers

Author(s): Adolfo Barajas , Andrea Deghi , Claudio Raddatz , Dulani Seneviratne , Peichu Xie , and Yizhi Xu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2020

DOI: http://dx.doi.org/10.5089/9781513549149.001

ISBN: 9781513549149

Keywords: External sector, Financial crises, Financial institutions, Macroprudential policies and financial stability, Financial systems, US dollar funding, financial stability risks, cross-currency basis, global banks, international liquidity

Leading up to the global financial crisis, US dollar activity by global banks headquartered outside the United States played a crucial role in transmitting shocks originating in funding markets. Although post-crisi...

Global Value Chains and Productivity: Micro Evidence from Estonia

Global Value Chains and Productivity: Micro Evidence from Estonia »

Volume/Issue: 2020/117

Series: IMF Working Papers

Author(s): Hang Banh , Philippe Wingender , and Cheikh Gueye

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2020

DOI: http://dx.doi.org/10.5089/9781513542300.001

ISBN: 9781513542300

Keywords: Total factor productivity, Economic growth, Price indexes, Financial crises, Labor productivity, global value chains, trade, productivity, WP, industry level

The COVID-19 pandemic has led to an unprecedented collapse in global economic activity and trade. The crisis has also highlighted the role played by global value chains (GVC), with countries facing shortages of com...

Going Viral: A Gravity Model of Infectious Diseases and Tourism Flows

Going Viral: A Gravity Model of Infectious Diseases and Tourism Flows »

Volume/Issue: 2020/112

Series: IMF Working Papers

Author(s): Serhan Cevik

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2020

DOI: http://dx.doi.org/10.5089/9781513549101.001

ISBN: 9781513549101

Keywords: Economic growth, Economic recovery, Financial crises, Tourism, Gross domestic product, Infectious diseases, international tourism flows, gravity model, panel data, WP

This paper develops a gravity model framework to estimate the impact of infectious diseases on bilateral tourism flows among 38,184 pairs of countries over the period 1995-2017. The results confirm that internation...

Non-Financial Corporate Debt in Advanced Economies, 2010-17

Non-Financial Corporate Debt in Advanced Economies, 2010-17 »

Volume/Issue: 2020/120

Series: IMF Working Papers

Author(s): Luiza Antoun de Almeida , and Thierry Tressel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2020

DOI: http://dx.doi.org/10.5089/9781513549200.001

ISBN: 9781513549200

Keywords: Financial crises, Economic growth, Economic recovery, Capital markets, Sovereign debt, corporate debt, corporate vulnerability, bond issuance, macro-financial risks, firm-level data

This paper studies the evolution of non-financial corporate debt among publicly listed companies in major advanced economies between 2010 and 2017. Since 2010, firms have started to rely more on corporate bond mark...

Non-Financial Corporate Debt in Advanced Economies, 2010-17

Non-Financial Corporate Debt in Advanced Economies, 2010-17 »

Source: Non-Financial Corporate Debt in Advanced Economies, 2010-17

Volume/Issue: 2020/120

Series: IMF Working Papers

Author(s): Luiza Antoun de Almeida , and Thierry Tressel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2020

ISBN: 9781513549200

Keywords: Financial crises, Economic growth, Economic recovery, Capital markets, Sovereign debt, corporate debt, corporate vulnerability, bond issuance, macro-financial risks, firm-level data

This paper studies the evolution of non-financial corporate debt among publicly listed companies in major advanced economies between 2010 and 2017. Since 2010, firms have started to rely more on corporate bond mark...

El Salvador

El Salvador »

Source: El Salvador : Technical Assistance Report-The Capacity Development National Accounts Statistics Mission

Volume/Issue: 192020/216

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 July 2020

Language: Spanish

ISBN: 9781513548999

Keywords: ISCR, CR, input-output, SUT, use table, IOT, basic price

A technical Assistance (TA) Mission was conducted by CAPTAC-DR1 from May 14 to 18, 2018 with the objective of supporting the Central Reserve Bank of El Salvador (CBR) in its efforts to strengthen its national accou...

El Salvador

El Salvador »

Source: El Salvador : Technical Assistance Report-The Capacity Development National Accounts Statistics Mission

Volume/Issue: 192020/216

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 July 2020

ISBN: 9781513548982

Keywords: Supply and demand, Balance of payments, Economic analysis, National accounts, Gross domestic product, ISCR, CR, input-output, SUT, use table

A technical Assistance (TA) Mission was conducted by CAPTAC-DR1 from May 14 to 18, 2018 with the objective of supporting the Central Reserve Bank of El Salvador (CBR) in its efforts to strengthen its national accou...

El Salvador
			: Technical Assistance Report-The Capacity Development National Accounts Statistics Mission

El Salvador : Technical Assistance Report-The Capacity Development National Accounts Statistics Mission »

Volume/Issue: 192020/216

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 July 2020

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781513548999.002

ISBN: 9781513548999

Keywords: ISCR, CR, input-output, SUT, use table, IOT, basic price

A technical Assistance (TA) Mission was conducted by CAPTAC-DR1 from May 14 to 18, 2018 with the objective of supporting the Central Reserve Bank of El Salvador (CBR) in its efforts to strengthen its national accou...

El Salvador
			: Technical Assistance Report-The Capacity Development National Accounts Statistics Mission

El Salvador : Technical Assistance Report-The Capacity Development National Accounts Statistics Mission »

Volume/Issue: 192020/216

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 July 2020

DOI: http://dx.doi.org/10.5089/9781513548982.002

ISBN: 9781513548982

Keywords: Supply and demand, Balance of payments, Economic analysis, National accounts, Gross domestic product, ISCR, CR, input-output, SUT, use table

A technical Assistance (TA) Mission was conducted by CAPTAC-DR1 from May 14 to 18, 2018 with the objective of supporting the Central Reserve Bank of El Salvador (CBR) in its efforts to strengthen its national accou...

Seychelles
			: Technical Assistance Report-Scoping the Prospects for Financial Market Development

Seychelles : Technical Assistance Report-Scoping the Prospects for Financial Market Development »

Volume/Issue: 192020/200

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 June 2020

DOI: http://dx.doi.org/10.5089/9781513547169.002

ISBN: 9781513547169

Keywords: Reserve requirements, Financial markets, Central banking and monetary issues, Financial institutions, Financial infrastructure, ISCR, CR, T-bill, government security, interbank

This Technical Assistance (TA) mission focused on scoping the prospects of developing a secondary market for government securities in Seychelles. The Central Bank of Seychelles (CBS) has a leading role in developin...

Seychelles

Seychelles »

Source: Seychelles : Technical Assistance Report-Scoping the Prospects for Financial Market Development

Volume/Issue: 192020/200

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 June 2020

ISBN: 9781513547169

Keywords: Reserve requirements, Financial markets, Central banking and monetary issues, Financial institutions, Financial infrastructure, ISCR, CR, T-bill, government security, interbank

This Technical Assistance (TA) mission focused on scoping the prospects of developing a secondary market for government securities in Seychelles. The Central Bank of Seychelles (CBS) has a leading role in developin...

Dampening Global Financial Shocks: Can Macroprudential Regulation Help (More than Capital Controls)?

Dampening Global Financial Shocks: Can Macroprudential Regulation Help (More than Capital Controls)? »

Source: Dampening Global Financial Shocks: Can Macroprudential Regulation Help (More than Capital Controls)?

Volume/Issue: 2020/106

Series: IMF Working Papers

Author(s): Katharina Bergant , Francesco Grigoli , Niels-Jakob Hansen , and Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2020

ISBN: 9781513547763

Keywords: Balance of payments, Financial crises, Monetary policy, Central banks, Interest rate policy, Macroprudential policies, capital controls., WP, capital control, VIX

We show that macroprudential regulation can considerably dampen the impact of global financial shocks on emerging markets. More specifically, a tighter level of regulation reduces the sensitivity of GDP growth to V...

IMF Executive Board Approves a US$363.6 Million Disbursement to Papua New Guinea to Address the COVID-19 Pandemic

IMF Executive Board Approves a US$363.6 Million Disbursement to Papua New Guinea to Address the COVID-19 Pandemic »

Source: Papua New Guinea : Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea

Volume/Issue: 192020/211

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2020

ISBN: 9781513548708

Keywords: Rapid Credit Facility (RCF), Real sector, External sector, Economic indicators, Credit, External debt, ISCR, CR, percent of GDP, PNG

The COVID-19 pandemic erupted just as the government was beginning to implement wide-ranging fiscal, foreign exchange, structural, and governance measures under a Staff-Monitored Program (SMP). The authorities have...

Papua New Guinea
			: Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea

Papua New Guinea : Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea »

Volume/Issue: 192020/211

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2020

DOI: http://dx.doi.org/10.5089/9781513548708.002

ISBN: 9781513548708

Keywords: Rapid Credit Facility (RCF), Real sector, External sector, Economic indicators, Credit, External debt, ISCR, CR, percent of GDP, PNG

The COVID-19 pandemic erupted just as the government was beginning to implement wide-ranging fiscal, foreign exchange, structural, and governance measures under a Staff-Monitored Program (SMP). The authorities have...

Dampening Global Financial Shocks: Can Macroprudential Regulation Help (More than Capital Controls)?

Dampening Global Financial Shocks: Can Macroprudential Regulation Help (More than Capital Controls)? »

Volume/Issue: 2020/106

Series: IMF Working Papers

Author(s): Katharina Bergant , Francesco Grigoli , Niels-Jakob Hansen , and Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2020

DOI: http://dx.doi.org/10.5089/9781513547763.001

ISBN: 9781513547763

Keywords: Balance of payments, Financial crises, Monetary policy, Central banks, Interest rate policy, Macroprudential policies, capital controls., WP, capital control, VIX

We show that macroprudential regulation can considerably dampen the impact of global financial shocks on emerging markets. More specifically, a tighter level of regulation reduces the sensitivity of GDP growth to V...

The Impact of Monetary Policy Communication in an Emerging Economy: The Case of Indonesia

The Impact of Monetary Policy Communication in an Emerging Economy: The Case of Indonesia »

Volume/Issue: 2020/109

Series: IMF Working Papers

Author(s): Calixte Ahokpossi , Agnes Isnawangsih , Md. Shah Naoaj , and Ting Yan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2020

DOI: http://dx.doi.org/10.5089/9781513545646.001

ISBN: 9781513545646

Keywords: Central bank policy, Monetary policy instruments, Open market operations, Central bank independence, Reserve requirements, Monetary policy, central bank communication, central bank predictability., WP, policy report

Since the adoption of the inflation targeting framework by Bank Indonesia (BI), monetary policy communication has played an increasingly important role in BI's policy toolkit. This paper assesses BI's monetary poli...

The Macroeconomic Costs of Conflict

The Macroeconomic Costs of Conflict »

Volume/Issue: 2020/110

Series: IMF Working Papers

Author(s): Natalija Novta , and Evgenia Pugacheva

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2020

DOI: http://dx.doi.org/10.5089/9781513547756.001

ISBN: 9781513547756

Keywords: Development, Economic conditions, Social safety nets, Economic forecasting, Economic policy, conflict, war, growth, trade, migration

Macroeconomic costs of conflict are generally very large, with GDP per capita about 28 percent lower ten years after conflict onset. This is overwhelmingly driven by private consumption, which falls by 25 percent t...

Wealth Inequality and Private Savings: The Case of Germany

Wealth Inequality and Private Savings: The Case of Germany »

Volume/Issue: 2020/107

Series: IMF Working Papers

Author(s): Mai Dao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2020

DOI: http://dx.doi.org/10.5089/9781513546063.001

ISBN: 9781513546063

Keywords: National income, Interest rates on deposits, Flow of funds, National accounts, Financial crises, Germany, wealth inequality, corporate saving, current account surplus., WP

This paper explores the interaction between corporate ownership concentration and private savings, and by extension, the current account balance in Germany. As high corporate savings largely reflected capital incom...

The Impact of Monetary Policy Communication in an Emerging Economy: The Case of Indonesia1

The Impact of Monetary Policy Communication in an Emerging Economy: The Case of Indonesia1 »

Source: The Impact of Monetary Policy Communication in an Emerging Economy: The Case of Indonesia

Volume/Issue: 2020/109

Series: IMF Working Papers

Author(s): Calixte Ahokpossi , Agnes Isnawangsih , Md. Shah Naoaj , and Ting Yan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2020

ISBN: 9781513545646

Keywords: Central bank policy, Monetary policy instruments, Open market operations, Central bank independence, Reserve requirements, Monetary policy, central bank communication, central bank predictability., WP, policy report

Since the adoption of the inflation targeting framework by Bank Indonesia (BI), monetary policy communication has played an increasingly important role in BI's policy toolkit. This paper assesses BI's monetary poli...

The Macroeconomic Costs of Conflict1

The Macroeconomic Costs of Conflict1 »

Source: The Macroeconomic Costs of Conflict

Volume/Issue: 2020/110

Series: IMF Working Papers

Author(s): Natalija Novta , and Evgenia Pugacheva

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2020

ISBN: 9781513547756

Keywords: Development, Economic conditions, Social safety nets, Economic forecasting, Economic policy, conflict, war, growth, trade, migration

Macroeconomic costs of conflict are generally very large, with GDP per capita about 28 percent lower ten years after conflict onset. This is overwhelmingly driven by private consumption, which falls by 25 percent t...

Papua New Guinea : Request for Disbursement Under the Rapid Credit Facility—Debt Sustainability Analysis

Papua New Guinea : Request for Disbursement Under the Rapid Credit Facility—Debt Sustainability Analysis »

Source: Papua New Guinea : Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea

Volume/Issue: 192020/211

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2020

ISBN: 9781513548708

Keywords: Rapid Credit Facility (RCF), Real sector, External sector, Economic indicators, Credit, External debt, ISCR, CR, percent of GDP, PNG

The COVID-19 pandemic erupted just as the government was beginning to implement wide-ranging fiscal, foreign exchange, structural, and governance measures under a Staff-Monitored Program (SMP). The authorities have...

Papua New Guinea : Request for Disbursement Under the Rapid Credit Facility—Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea

Papua New Guinea : Request for Disbursement Under the Rapid Credit Facility—Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea »

Source: Papua New Guinea : Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea

Volume/Issue: 192020/211

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2020

ISBN: 9781513548708

Keywords: Rapid Credit Facility (RCF), Real sector, External sector, Economic indicators, Credit, External debt, ISCR, CR, percent of GDP, PNG

The COVID-19 pandemic erupted just as the government was beginning to implement wide-ranging fiscal, foreign exchange, structural, and governance measures under a Staff-Monitored Program (SMP). The authorities have...

Statement by Nigel Ray, Executive Director for Papua New Guinea and Laura Johnson, Senior Advisor to Executive Director June 5, 2020

Statement by Nigel Ray, Executive Director for Papua New Guinea and Laura Johnson, Senior Advisor to Executive Director June 5, 2020 »

Source: Papua New Guinea : Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea

Volume/Issue: 192020/211

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2020

ISBN: 9781513548708

Keywords: Rapid Credit Facility (RCF), Real sector, External sector, Economic indicators, Credit, External debt, ISCR, CR, percent of GDP, PNG

The COVID-19 pandemic erupted just as the government was beginning to implement wide-ranging fiscal, foreign exchange, structural, and governance measures under a Staff-Monitored Program (SMP). The authorities have...

Wealth Inequality and Private Savings: The Case of Germany

Wealth Inequality and Private Savings: The Case of Germany »

Source: Wealth Inequality and Private Savings: The Case of Germany

Volume/Issue: 2020/107

Series: IMF Working Papers

Author(s): Mai Dao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2020

ISBN: 9781513546063

Keywords: National income, Interest rates on deposits, Flow of funds, National accounts, Financial crises, Germany, wealth inequality, corporate saving, current account surplus., WP

This paper explores the interaction between corporate ownership concentration and private savings, and by extension, the current account balance in Germany. As high corporate savings largely reflected capital incom...

Comfort in Floating: Taking Stock of Twenty Years of Freely-Floating Exchange Rate in Chile1

Comfort in Floating: Taking Stock of Twenty Years of Freely-Floating Exchange Rate in Chile1 »

Source: Comfort in Floating: Taking Stock of Twenty Years of Freely-Floating Exchange Rate in Chile

Volume/Issue: 2020/100

Series: IMF Working Papers

Author(s): Elías Albagli , Mauricio Calani , Metodij Hadzi-Vaskov , Mario Marcel , and Luca Ricci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2020

ISBN: 9781513547718

Keywords: Financial crises, Central banks, Flexible exchange rate policy, Financial regulation and supervision, External sector, exchange rate regime, FX derivatives, hedging, exchange rate pass-through, policy credibility

Chile offers an example of a country that has overcome the fear of floating by reducing balance sheet mismatches, enhancing financial market development, as well as improving monetary, fiscal, and political institu...

Comfort in Floating: Taking Stock of Twenty Years of Freely-Floating Exchange Rate in Chile

Comfort in Floating: Taking Stock of Twenty Years of Freely-Floating Exchange Rate in Chile »

Volume/Issue: 2020/100

Series: IMF Working Papers

Author(s): Elías Albagli , Mauricio Calani , Metodij Hadzi-Vaskov , Mario Marcel , and Luca Ricci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2020

DOI: http://dx.doi.org/10.5089/9781513547718.001

ISBN: 9781513547718

Keywords: Financial crises, Central banks, Flexible exchange rate policy, Financial regulation and supervision, External sector, exchange rate regime, FX derivatives, hedging, exchange rate pass-through, policy credibility

Chile offers an example of a country that has overcome the fear of floating by reducing balance sheet mismatches, enhancing financial market development, as well as improving monetary, fiscal, and political institu...

The Lack of Convergence of Latin-America Compared with CESEE: Is Low Investment to Blame?

The Lack of Convergence of Latin-America Compared with CESEE: Is Low Investment to Blame? »

Volume/Issue: 2020/98

Series: IMF Working Papers

Author(s): Bas Bakker , Manuk Ghazanchyan , Alex Ho , and Vibha Nanda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2020

DOI: http://dx.doi.org/10.5089/9781513547886.001

ISBN: 9781513547886

Keywords: Total factor productivity, Human capital, Economic integration, Cost of capital, Capital income, Economic Convergence, Growth, TFP, WP, capital-labor

In the last few decades there has been little convergence of income levels in Latin America with those in the United States, in sharp contrast with both emerging Asia and emerging Europe. This paper argues that lac...

The Lack of Convergence of Latin-America Compared with CESEE: Is Low Investment to Blame?

The Lack of Convergence of Latin-America Compared with CESEE: Is Low Investment to Blame? »

Source: The Lack of Convergence of Latin-America Compared with CESEE: Is Low Investment to Blame?

Volume/Issue: 2020/98

Series: IMF Working Papers

Author(s): Bas Bakker , Manuk Ghazanchyan , Alex Ho , and Vibha Nanda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2020

ISBN: 9781513547886

Keywords: Total factor productivity, Human capital, Economic integration, Cost of capital, Capital income, Economic Convergence, Growth, TFP, WP, capital-labor

In the last few decades there has been little convergence of income levels in Latin America with those in the United States, in sharp contrast with both emerging Asia and emerging Europe. This paper argues that lac...

IMF Executive Board Approves US$99 Million Disbursement Under the Rapid Financing Instrument to Mongolia to Address the COVID-19 Pandemic

IMF Executive Board Approves US$99 Million Disbursement Under the Rapid Financing Instrument to Mongolia to Address the COVID-19 Pandemic »

Source: Mongolia : Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Mongolia

Volume/Issue: 192020/205

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 June 2020

ISBN: 9781513547893

Keywords: Rapid Financing Instrument (RFI), Balance of payments need, Balance of payments, Foreign exchange reserves, Financial assistance, Public debt, ISCR, CR, primary balance, percent of GDP

This paper discusses Mongolia's Request for Purchase Under the Rapid Financing Instrument (RFI). The coronavirus disease 2019 pandemic has taken a large toll on economic activity in Mongolia, giving rise to urgent...

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

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

Volume/Issue: 192020/205

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 June 2020

DOI: http://dx.doi.org/10.5089/9781513547893.002

ISBN: 9781513547893

Keywords: Rapid Financing Instrument (RFI), Balance of payments need, Balance of payments, Foreign exchange reserves, Financial assistance, Public debt, ISCR, CR, primary balance, percent of GDP

This paper discusses Mongolia's Request for Purchase Under the Rapid Financing Instrument (RFI). The coronavirus disease 2019 pandemic has taken a large toll on economic activity in Mongolia, giving rise to urgent...

Mongolia : Mongolia—Request for Purchase Under the Rapid Financing Instrument—Press Release; Staff Report; and Statement by the Executive Director for Mongolia

Mongolia : Mongolia—Request for Purchase Under the Rapid Financing Instrument—Press Release; Staff Report; and Statement by the Executive Director for Mongolia »

Source: Mongolia : Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Mongolia

Volume/Issue: 192020/205

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 June 2020

ISBN: 9781513547893

Keywords: Rapid Financing Instrument (RFI), Balance of payments need, Balance of payments, Foreign exchange reserves, Financial assistance, Public debt, ISCR, CR, primary balance, percent of GDP

This paper discusses Mongolia's Request for Purchase Under the Rapid Financing Instrument (RFI). The coronavirus disease 2019 pandemic has taken a large toll on economic activity in Mongolia, giving rise to urgent...

Statement by Nigel Ray, Executive Director for Mongolia, Laura Johnson, Senior Advisor to Executive Director, Gantsogt Khurelbaatar, Advisor to Executive Director June 3, 2020

Statement by Nigel Ray, Executive Director for Mongolia, Laura Johnson, Senior Advisor to Executive Director, Gantsogt Khurelbaatar, Advisor to Executive Director June 3, 2020 »

Source: Mongolia : Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Mongolia

Volume/Issue: 192020/205

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 June 2020

ISBN: 9781513547893

Keywords: Rapid Financing Instrument (RFI), Balance of payments need, Balance of payments, Foreign exchange reserves, Financial assistance, Public debt, ISCR, CR, primary balance, percent of GDP

This paper discusses Mongolia's Request for Purchase Under the Rapid Financing Instrument (RFI). The coronavirus disease 2019 pandemic has taken a large toll on economic activity in Mongolia, giving rise to urgent...

Fiscal Resilience Building: Insights from a New Tax Revenue Diversification Index1

Fiscal Resilience Building: Insights from a New Tax Revenue Diversification Index1 »

Source: Fiscal Resilience Building: Insights from a New Tax Revenue Diversification Index

Volume/Issue: 2020/94

Series: IMF Working Papers

Author(s): Rasmané Ouedraogo , Rene Tapsoba , Moussé Sow , and Ali Compaoré

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2020

ISBN: 9781513546032

Keywords: Tax revenue, Recurrent taxes on immovable property, Recurrent taxes on net wealth, Taxes on financial and capital transactions, Fiscal policy, Revenue volatility, Taxation, Tax revenue diversification, Theil Index., WP

Does the reliance on diversified tax structure enhance resilience to fiscal risks? This paper gives an answer to this question by proposing a new cross-country tax revenue diversification index (RDI). The RDI build...

FX Intervention to Stabilize or Manipulate the Exchange Rate? Inference from Profitability

FX Intervention to Stabilize or Manipulate the Exchange Rate? Inference from Profitability »

Source: FX Intervention to Stabilize or Manipulate the Exchange Rate? Inference from Profitability

Volume/Issue: 2020/90

Series: IMF Working Papers

Author(s): Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2020

ISBN: 9781513547664

Keywords: Central banks, Exchange markets, Exchange rate markets, Exchange rate determination, Exchange rate forecasting, FX intervention, profitability, exchange rate, WP, BRL

We analyze the profitability of FX swaps used by the central bank of Brazil to shed light on the rationale for FX intervention. We find that swaps are profitable in expectation, suggesting that FX intervention is u...

IMF Executive Board Approves $14.3 Million Debt Relief to the United Republic of Tanzania Under the Catastrophe Containment and Relief Trust

IMF Executive Board Approves $14.3 Million Debt Relief to the United Republic of Tanzania Under the Catastrophe Containment and Relief Trust »

Source: United Republic of Tanzania : Request for Debt Relief under the Catastrophe Containment and Relief Trust-Press Release; Staff Report; and Statement by the Executive Director for the United Republic of Tanzania

Volume/Issue: 192020/203

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2020

ISBN: 9781513547442

Keywords: External sector, Balance of payments need, Debt service, Debt relief, Balance of payments, ISCR, CR, Proj, percent of GDP, pandemic

This paper discusses the United Republic of Tanzania's Request for Debt Relief Under the Catastrophe Containment and Relief Trust. IMF debt service relief will help free up resources for public sector health needs...

United Republic of Tanzania
			: Request for Debt Relief under the Catastrophe Containment and Relief Trust-Press Release; Staff Report; and Statement by the Executive Director for the United Republic of Tanzania

United Republic of Tanzania : Request for Debt Relief under the Catastrophe Containment and Relief Trust-Press Release; Staff Report; and Statement by the Executive Director for the United Republic of Tanzania »

Volume/Issue: 192020/203

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2020

DOI: http://dx.doi.org/10.5089/9781513547442.002

ISBN: 9781513547442

Keywords: External sector, Balance of payments need, Debt service, Debt relief, Balance of payments, ISCR, CR, Proj, percent of GDP, pandemic

This paper discusses the United Republic of Tanzania's Request for Debt Relief Under the Catastrophe Containment and Relief Trust. IMF debt service relief will help free up resources for public sector health needs...

Fiscal Resilience Building: Insights from a New Tax Revenue Diversification Index

Fiscal Resilience Building: Insights from a New Tax Revenue Diversification Index »

Volume/Issue: 2020/94

Series: IMF Working Papers

Author(s): Rasmané Ouedraogo , Rene Tapsoba , Moussé Sow , and Ali Compaoré

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2020

DOI: http://dx.doi.org/10.5089/9781513546032.001

ISBN: 9781513546032

Keywords: Tax revenue, Recurrent taxes on immovable property, Recurrent taxes on net wealth, Taxes on financial and capital transactions, Fiscal policy, Revenue volatility, Taxation, Tax revenue diversification, Theil Index., WP

Does the reliance on diversified tax structure enhance resilience to fiscal risks? This paper gives an answer to this question by proposing a new cross-country tax revenue diversification index (RDI). The RDI build...

FX Intervention to Stabilize or Manipulate the Exchange Rate? Inference from Profitability

FX Intervention to Stabilize or Manipulate the Exchange Rate? Inference from Profitability »

Volume/Issue: 2020/90

Series: IMF Working Papers

Author(s): Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2020

DOI: http://dx.doi.org/10.5089/9781513547664.001

ISBN: 9781513547664

Keywords: Central banks, Exchange markets, Exchange rate markets, Exchange rate determination, Exchange rate forecasting, FX intervention, profitability, exchange rate, WP, BRL

We analyze the profitability of FX swaps used by the central bank of Brazil to shed light on the rationale for FX intervention. We find that swaps are profitable in expectation, suggesting that FX intervention is u...

Statement by Mr. Mahlinza, Executive Director for the United Republic of Tanzania, Mr. Odonye, Alternate Executive Director, and Mr. Jappah, Senior Advisor to June 10, 2020

Statement by Mr. Mahlinza, Executive Director for the United Republic of Tanzania, Mr. Odonye, Alternate Executive Director, and Mr. Jappah, Senior Advisor to June 10, 2020 »

Source: United Republic of Tanzania : Request for Debt Relief under the Catastrophe Containment and Relief Trust-Press Release; Staff Report; and Statement by the Executive Director for the United Republic of Tanzania

Volume/Issue: 192020/203

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2020

ISBN: 9781513547442

Keywords: External sector, Balance of payments need, Debt service, Debt relief, Balance of payments, ISCR, CR, Proj, percent of GDP, pandemic

This paper discusses the United Republic of Tanzania's Request for Debt Relief Under the Catastrophe Containment and Relief Trust. IMF debt service relief will help free up resources for public sector health needs...

United Republic of Tanzania: Request for Debt Relief Under the Catostrophe Containment and Relief Trust; Press Release; Staff Report; and Statement by the Executive Director for the United Republic of Tanzania

United Republic of Tanzania: Request for Debt Relief Under the Catostrophe Containment and Relief Trust; Press Release; Staff Report; and Statement by the Executive Director for the United Republic of Tanzania »

Source: United Republic of Tanzania : Request for Debt Relief under the Catastrophe Containment and Relief Trust-Press Release; Staff Report; and Statement by the Executive Director for the United Republic of Tanzania

Volume/Issue: 192020/203

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2020

ISBN: 9781513547442

Keywords: External sector, Balance of payments need, Debt service, Debt relief, Balance of payments, ISCR, CR, Proj, percent of GDP, pandemic

This paper discusses the United Republic of Tanzania's Request for Debt Relief Under the Catastrophe Containment and Relief Trust. IMF debt service relief will help free up resources for public sector health needs...

The Bahamas : Request for Purchase Under the Rapid Financing Instrument—Press Release; Staff Report; and Statement by the Executive Director for the Bahamas

The Bahamas : Request for Purchase Under the Rapid Financing Instrument—Press Release; Staff Report; and Statement by the Executive Director for the Bahamas »

Source: The Bahamas : Request for Purchase under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for The Bahamas

Volume/Issue: 192020/191

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 June 2020

ISBN: 9781513546643

Keywords: Rapid Financing Instrument (RFI), Economic recovery, Public financial management, Credit, Central banks, Balance of payments need, ISCR, CR, pandemic, percent of GDP

This paper highlights The Bahamas' Request for Purchase Under the Rapid Financing Instrument (RFI). The coronavirus disease 2019 (COVID-19) pandemic comes on the heels of the widespread destruction caused by Hurric...

Estimated Policy Rules for Capital Controls

Estimated Policy Rules for Capital Controls »

Source: Estimated Policy Rules for Capital Controls

Volume/Issue: 2020/80

Series: IMF Working Papers

Author(s): Gurnain Kaur Pasricha

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 June 2020

ISBN: 9781513546100

Keywords: Trade policy, Central bank policy, Exchange rate policy, Real effective exchange rates, Monetary policy, capital controls, macroprudential policy, mercantilist motivations, capital flows, emerging markets

This paper borrows the tradition of estimating policy reaction functions from monetary policy literature to ask whether capital controls respond to macroprudential or mercantilist motivations. I explore this questi...

IMF Executive Board Approves a US$ 250 Million Disbursement to The Bahamas to Address the COVID-19 Pandemic

IMF Executive Board Approves a US$ 250 Million Disbursement to The Bahamas to Address the COVID-19 Pandemic »

Source: The Bahamas : Request for Purchase under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for The Bahamas

Volume/Issue: 192020/191

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 June 2020

ISBN: 9781513546643

Keywords: Rapid Financing Instrument (RFI), Economic recovery, Public financial management, Credit, Central banks, Balance of payments need, ISCR, CR, pandemic, percent of GDP

This paper highlights The Bahamas' Request for Purchase Under the Rapid Financing Instrument (RFI). The coronavirus disease 2019 (COVID-19) pandemic comes on the heels of the widespread destruction caused by Hurric...

The Bahamas
			: Request for Purchase under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for The Bahamas

The Bahamas : Request for Purchase under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for The Bahamas »

Volume/Issue: 192020/191

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 June 2020

DOI: http://dx.doi.org/10.5089/9781513546643.002

ISBN: 9781513546643

Keywords: Rapid Financing Instrument (RFI), Economic recovery, Public financial management, Credit, Central banks, Balance of payments need, ISCR, CR, pandemic, percent of GDP

This paper highlights The Bahamas' Request for Purchase Under the Rapid Financing Instrument (RFI). The coronavirus disease 2019 (COVID-19) pandemic comes on the heels of the widespread destruction caused by Hurric...

Estimated Policy Rules for Capital Controls

Estimated Policy Rules for Capital Controls »

Volume/Issue: 2020/80

Series: IMF Working Papers

Author(s): Gurnain Kaur Pasricha

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 June 2020

DOI: http://dx.doi.org/10.5089/9781513546100.001

ISBN: 9781513546100

Keywords: Trade policy, Central bank policy, Exchange rate policy, Real effective exchange rates, Monetary policy, capital controls, macroprudential policy, mercantilist motivations, capital flows, emerging markets

This paper borrows the tradition of estimating policy reaction functions from monetary policy literature to ask whether capital controls respond to macroprudential or mercantilist motivations. I explore this questi...

This Changes Everything: Climate Shocks and Sovereign Bonds

This Changes Everything: Climate Shocks and Sovereign Bonds »

Volume/Issue: 2020/79

Series: IMF Working Papers

Author(s): Serhan Cevik , and João Tovar Jalles

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 June 2020

DOI: http://dx.doi.org/10.5089/9781513546216.001

ISBN: 9781513546216

Keywords: Climatic changes, Bond markets, Bond yields, Municipal bonds, Financial statistics, Climate change, vulnerability, resilience, government bond yields and spreads, WP

Climate change is already a systemic risk to the global economy. While there is a large body of literature documenting potential economic consequences, there is scarce research on the link between climate change an...

Why Did Public Banks Lend More During the Global Financial Crisis?

Why Did Public Banks Lend More During the Global Financial Crisis? »

Volume/Issue: 2020/84

Series: IMF Working Papers

Author(s): Joshua Bosshardt , and Eugenio Cerutti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 June 2020

DOI: http://dx.doi.org/10.5089/9781513546049.001

ISBN: 9781513546049

Keywords: Central banks, Financial crises, Banking systems, Commercial banks, Bank capital, state-owned banks, lending, global financial crisis, WP, public bank

During the Global Financial Crisis (GFC), state-owned or public banks lent relatively more than domestic private banks in many countries. However, data limitations have hindered a thorough assessment of what led pu...

Statement by Louise Levonian, Executive Director for the Bahamas and Garima Vasishtha, Senior Advisor to the Executive Director June 1, 2020

Statement by Louise Levonian, Executive Director for the Bahamas and Garima Vasishtha, Senior Advisor to the Executive Director June 1, 2020 »

Source: The Bahamas : Request for Purchase under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for The Bahamas

Volume/Issue: 192020/191

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 June 2020

ISBN: 9781513546643

Keywords: Rapid Financing Instrument (RFI), Economic recovery, Public financial management, Credit, Central banks, Balance of payments need, ISCR, CR, pandemic, percent of GDP

This paper highlights The Bahamas' Request for Purchase Under the Rapid Financing Instrument (RFI). The coronavirus disease 2019 (COVID-19) pandemic comes on the heels of the widespread destruction caused by Hurric...

This Changes Everything: Climate Shocks and Sovereign Bonds

This Changes Everything: Climate Shocks and Sovereign Bonds »

Source: This Changes Everything: Climate Shocks and Sovereign Bonds

Volume/Issue: 2020/79

Series: IMF Working Papers

Author(s): Serhan Cevik , and João Tovar Jalles

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 June 2020

ISBN: 9781513546216

Keywords: Climatic changes, Bond markets, Bond yields, Municipal bonds, Financial statistics, Climate change, vulnerability, resilience, government bond yields and spreads, WP

Climate change is already a systemic risk to the global economy. While there is a large body of literature documenting potential economic consequences, there is scarce research on the link between climate change an...