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Augusto Azael Pérez Azcárraga
,
Tadatsugu Matsudaira
,
Gilles Montagnat-Rentier
,
Janos Nagy
, and
R. James Clark

Abstract

Las administraciones de aduanas ven surgir nuevos retos a medida que aumenta el volumen del comercio internacional, aparece nueva tecnología y cambian los modelo de negocio. Este libro analiza los cambios y desafíos que enfrentan las administraciones de aduanas y propone formas de abordarlos. Describe los problemas que las autoridades deben tener en cuenta a la hora de elaborar su propia hoja de ruta para la modernización de las aduanas.

Jakree Koosakul
and
Alexei Miksjuk
The expansion of bilateral swap arrangements (BSAs) since the Global Financial Crisis has led to a substantial reconfiguration of the Global Financial Safety Net (GFSN). This paper examines the drivers of BSA supply using a novel dataset on all publicly documented BSAs. It finds that countries with well-developed financial markets and institutions and high trade openness are more likely to backstop other economies by establishing BSAs. In addition, their choice of BSA counterparts is driven by strong investment and trade exposures to these countries, with variation in the relative importance of these factors across major BSA providers. The paper shows that geopolitical considerations often affect such decisions, as BSAs are less likely to be established between geopolitically distant countries and more likely between countries in the same regional economic bloc.
Augusto A Perez Azcarraga
,
Tadatsugu Matsudaira
,
Gilles Montagnat-Rentier
,
Janos Nagy
, and
R. James Clark

Abstract

Перед таможенными службами во всем мире встают новые задачи: растущий объем международной торговли, революция в новых технологиях и фундаментальные изменения в бизнес-моделях. Преимущества хорошо функционирующей таможенной администрации очевидны, равно как и необходимость развития эффективных, действенных, справедливых и современных таможенных администраций. Книга «Таможенные вопросы» анализирует многочисленные изменения и проблемы, с которыми сталкиваются таможенные администрации, и предлагают пути их решения. Предлагая разноплановый взгляд на основные аспекты таможенного администрирования, книга служит руководством для директивных органов и должностных лиц таможенных служб при оценке текущего состояния их таможенных систем в целях разработки, совершенствования или продвижения своих планов действий по модернизации таможенной службы.

International Monetary Fund. Finance Dept.
and
International Monetary Fund. Legal Dept.
This paper presents the second set of PRGT borrowing agreements that have been finalized through April 2023 as part of the loan mobilization round launched in July 2021 to cover the cost of pandemic-related lending and support the self-sustainability of the Poverty Reduction and Growth Trust (PRGT). Seven of the eight agreements presented use SDRs in the context of SDR channeling. Together these agreements provide a total of SDR 5.1 billion in new PRGT loan resources for low-income countries (LICs).
Luciano Greco
and
Mariano Moszoro
The economic debate underlines the reasons why discount rates of infrastructure projects should be similar, regardless the public or private source of financing, during the forecast period when flows are risky but predictable. In contrast, we show that the incompleteness of contracts between governments and private firms beyond the forecast period (i.e., when flows of net social benefits are state-contingent) entails expected terminal values that are systematically larger under government rather than private financing. This effect provides a new rationale for applying a lower discount rate in the assessment of projects under public financing as compared to private financing.

Abstract

Revelations from many data leaks, court cases, and media reports are a constant reminder about how easy it is to abuse companies and other types of legal entities for money laundering, terrorist financing, and many other crimes with impunity when the beneficial owners—the real persons who own and control these legal entities—are hidden. Not knowing beneficial ownership information negatively affects countries’ economies. It allows criminals to misuse these entities to hide their identities and the criminal origins of their assets, and to enjoy the proceeds of crimes, which produces all sorts of economic distortions, negatively impacts economic growth, and allows criminals to infiltrate and take control of the legal economy. This book is a guide for practitioners, policymakers, and other researchers to establish comprehensive frameworks for holding beneficial ownership information. It proposes questions to guide strategic thinking and discussion about the establishment of an effective system of beneficial ownership information, for anti-money laundering purposes. This book also sets out how an effective beneficial ownership framework can reduce opportunities for corruption, support efforts against tax evasion, help tackle illicit financial flows, protect national security interests, and benefit procurement transparency.

Augusto Azael Pérez Azcárraga
,
Tadatsugu Matsudaira
,
Gilles Montagnat-Rentier
,
Janos Nagy
, and
R. James Clark

Abstract

Customs administrations around the world face new challenges: an increasing volume of international trade, a revolution in new technologies, and fundamental changes in business models. The benefits of a well-performing customs administration are clear, as is the need to develop efficient, effective, fair, and modern customs administrations. Customs Matters analyzes the many changes and challenges customs administrations face and proposes ways to address them. By offering a cross-sectional view of the main aspects of customs administration, the book guides policymakers and customs officials as they evaluate the current state of their customs system with a view to developing, reinforcing, or relaunching their own roadmaps for customs modernization.

Mr. Divya Kirti
,
Yang Liu
,
Soledad Martinez Peria
,
Ms. Prachi Mishra
, and
Jan Strasky
We introduce a new comprehensive announcement-level database tracking the extraordinary fiscal, monetary, prudential, and other policies that countries adopted in response to Covid-19. The database provides detailed information, including sizes where available, for 28 granular policies adopted by 74 countries during 2020. About 5,500 policy measures were announced during this period. Importantly, the database is organized and presented in a format easy for researchers to use in empirical analyses. Announcements were highly correlated across the broad fiscal, monetary, and prudential categories and at more granular levels. Advanced economies (AEs) introduced larger fiscal measures than emerging and developing economies (EMDEs) and relied primarily on large unconventional monetary policies. Bank capital requirements were relaxed widely in both AEs and EMs, while relaxation of provisioning requirements was more common among EMs. Supervisory expectations and reporting requirements were widely relaxed.
Israel Fainboim Yaker
,
Mr. Sandeep Saxena
, and
Michael J. Williams
Well-developed cash management aims to improve government operational efficiency and facilitates better service delivery by ensuring liquidity to meet payment obligations as they fall due. Liquidity, however, comes at a cost. Governments can reduce the cost of maintaining liquidity by proactively managing their cash balance at an appropriate level and prudently investing any excess liquidity. This note discusses the policy framework and processes that governments should put in place to identify, guide, and govern the investment of their surplus cash resources.