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Business and Economics > Investments: Stocks

You are looking at 1 - 10 of 55 items for :

  • Type: Journal Issue x
  • Public financial management (PFM) x
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Cover IMF Staff Country Reports
Suriname: Technical Assistance Report on Government Finance Statistics Mission-(October 10–21, 2022)
International Monetary Fund. Statistics Dept.
This technical assistance report on Suriname highlights proceedings of the Government Finance Statistics (GFS) mission. The authorities have partially followed the recommendations from previous mission that took place in April 2022. While there has been significant progress in below-the-line data, little progress has been made in above-the-line data. Compilers from the Statistics Department of the Central Bank of Suriname have compiled a financial balance sheet of the Central Government (CG) to assure the integration of flows with the stocks of financial assets and liabilities. In addition, they perform regular consistency checks of data on the CG deposits and loans with the recordings in the banking system. No developments have been achieved regarding the institutional sector coverage and little progress has been done regarding the above-the-line data compilation. One of the main issues that hamper GFS data quality is that no comprehensive data on the government revenues and expenditure exist in Suriname. The mission provided an extended hands-on training for the main GFS team compiling above-the-line transactions.
Keywords:
government finance Statistics mission; IMF's Statistics department; Suriname debt management office; staff team of the International Monetary Fund; GFS compiler; Government finance statistics; Fiscal accounting and reporting; Commercial banks; Stocks
Cover Selected Issues Papers
Revamping the West African Economic and Monetary Union (WAEMU) Fiscal Framework
Can Sever
and
Athene Laws
This paper aims to provide a broad perspective on the WAEMU fiscal framework. Based on backward looking exercises and forward looking scenarios, it shows that (i) repeated fiscal slippages and historically large stock flow adjustments contributed to the surge in the WAEMU public debt, and (ii) stock flow adjustments can have significant effects on the WAEMU debt dynamics going forward. This paper also discusses that it is essential and urgent to reintroduce the fiscal rules and the Convergence Pact and to enhance the rules. Revamping the fiscal rules should focus on introducing a correction mechanism (which could contain surges in debt in the future) and an escape clause (which would enhance fiscal discipline and predictability), as well as capturing the extensive extra-budgetary and below-the-line operations and strengthening the enforcement mechanism. Any consideration to changing the fiscal deficit target should also encompass addressing extra-budgetary and below-the-line transactions (for example by changing the definition of the deficit). It is not appropriate to increase the debt ceiling.
Keywords:
Fiscal policy; fiscal rules; fiscal governance; PFM; fiscal coordination; monetary unions; WAEMU; stock flow adjustments; flow adjustment; debt dynamics scenario; deficit target; scenario assumption; deficit measure; deficit combination; so called SFA; Government debt management; Debt sustainability analysis; Debt limits; Global
Cover IMF Staff Country Reports
Belarus: Technical Assistance Report-Financial Accounts and Balance Sheet Statistics Mission
International Monetary Fund. Statistics Dept.
The remote technical assistance (TA) mission provided guidance to the National Statistical Committee of the Republic of Belarus (BelStat) on the preliminary estimates of the Financial Accounts and Balance Sheets (FABS) for 2017. The TA mission assisted with compiling the revaluation and the other changes in volume accounts to give better consistency to the financial flows and stocks and improve the reconciliation process of the FABS. BelStat is in charge of compiling the current accounts for all the institutional sectors and is starting to compile the financial accounts for which important progress has been made. To regularly compile FABS, the mission recommended that BelStat addresses the discrepancies between the net lending/borrowing from the capital and the financial account by incorporating more data sources such as government’s financial stocks and business accounting data. The TA mission also provided guidance on compiling the Financial Intermediation Services Indirectly Measured (FISIM) to get a more consistent estimate. The mission highlighted the progress made and encouraged BelStat to continue working on compiling FABS for 2017 and onwards.
Keywords:
financial accounts; balance sheets; stocks; flows; balance sheet Statistics; IMF's Statistics Department; balance sheet statistics; business accounting data; BelStat staff; accounting data; Financial statements; Fiscal accounting and reporting; Capital account
Cover IMF Staff Country Reports
Belarus: Technical Assistance Report-Financial Accounts and Balance Sheet Statistics Mission
International Monetary Fund. Statistics Dept.
The remote technical assistance (TA) mission provided guidance to the National Statistical Committee of the Republic of Belarus (BelStat) on the preliminary estimates of the Financial Accounts and Balance Sheets (FABS) for 2017. The TA mission assisted with compiling the revaluation and the other changes in volume accounts to give better consistency to the financial flows and stocks and improve the reconciliation process of the FABS. BelStat is in charge of compiling the current accounts for all the institutional sectors and is starting to compile the financial accounts for which important progress has been made. To regularly compile FABS, the mission recommended that BelStat addresses the discrepancies between the net lending/borrowing from the capital and the financial account by incorporating more data sources such as government’s financial stocks and business accounting data. The TA mission also provided guidance on compiling the Financial Intermediation Services Indirectly Measured (FISIM) to get a more consistent estimate. The mission highlighted the progress made and encouraged BelStat to continue working on compiling FABS for 2017 and onwards.
Keywords:
financial accounts; balance sheets; stocks; flows; balance sheet Statistics; IMF's Statistics Department; balance sheet statistics; business accounting data; BelStat staff; accounting data; Financial statements; Fiscal accounting and reporting; Capital account
Cover IMF Staff Country Reports
Suriname: Technical Assistance Report on Government Finance Statistics Mission (December 6-17, 2021)
International Monetary Fund. Statistics Dept.
At the request of the Suriname authorities, a remote technical assistance (TA) mission took place during December 6–17, 2021. The mission was conducted in coordination with the IMF’s Western Hemisphere Department. The main objective of the mission was to assist the Ministry of Finance and Planning (MFP) and the Central Bank of Suriname (CBS) to improve the quality of the Government Finance Statistics (GFS) in view of the IMF program. The main tasks were to (i) conduct a diagnostic assessment of the current GFS and public debt compilation process,(ii) explain and reduce statistical discrepancies, (iii) analyze data on arrears and reassess their treatment in GFS, (iv) review the integration of stocks and flows of the gross debt; and (v) update the public sector institutional table, and (vi) deliver a workshop on GFSM 2014 framework and (PSDS).
Keywords:
IMF's Statistics Department; Suriname debt management office; staff team of the International Monetary Fund; government finance Statistics mission; CBS accounting report; Government finance statistics; Stocks; Fiscal accounting and reporting
Cover IMF Staff Country Reports
Republic of Madagascar: Technical Assistance Report-Government Finance Statistics
International Monetary Fund. Statistics Dept.
At the request of the Ministry of Economy and Finance (MEF) and in consultation with the Africa Department (AFR) of the International Monetary Fund (IMF), a remote Government Finance Statistics (GFS) mission from the Statistics Department (STA) took place in Madagascar from October 26 to November 13, 2020. The objective of this mission was to continue supporting the authorities in their project to adopt international GFS standards based on the methodology of the Government Finance Statistics Manual 2014 (GFSM 2014) and the Public Sector Debt Statistics Guide (PSDSG) and to improve GFS in general.
Keywords:
Public Sector Debt statistic; staff team of the International Monetary Fund; C. mission work; report constitute; GFS questionnaire; Government finance statistics; Financial statements; Data processing; Stocks; Africa
Cover Staff Discussion Notes
Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies: Assessment and Policy Options
Mr. Federico J Diez
,
Mr. Romain A Duval
,
Jiayue Fan
,
Jose M Garrido
,
Sebnem Kalemli-Ozcan
,
Chiara Maggi
,
Mr. Maria Soledad Martinez Peria
, and
Mr. Nicola Pierri
The COVID-19 pandemic has increased insolvency risks, especially among small and medium enterprises (SMEs), which are vastly overrepresented in hard-hit sectors. Without government intervention, even firms that are viable a priori could end up being liquidated—particularly in sectors characterized by labor-intensive technologies, threatening both macroeconomic and social stability. This staff discussion note assesses the impact of the pandemic on SME insolvency risks and policy options to address them. It quantifies the impact of weaker aggregate demand, changes in sectoral consumption patterns, and lockdowns on firm balance sheets and estimates the impact of a range of policy options, for a large sample of SMEs in (mostly) advanced economies.
Keywords:
Insolvency; Bankruptcy; “Quasi” Equity Injections; Small- and medium-size enterprises; COVID-19; insolvent firm; cash position; equity injection; illiquid firm; firm exit; cash flow; Solvency; Small and medium enterprises; Stocks; Financial statements; Southern Europe; Asia and Pacific
Cover IMF Staff Country Reports
Costa Rica: Technical Assistance Report—The National Accounts Statistics Capacity Development Mission
International Monetary Fund. Statistics Dept.
A technical assistance (TA) mission, conducted by CAPTAC-DR, took place during August 27 to September 7, in San Jose, Costa Rica, to assist the Central Bank of Costa Rica (CBCR) in compiling the non-financial and financial balance sheets. This TA mission was requested in the context of the rebasing project of the national accounts series to 2017, as follow-up of a previous mission conducted in March 2018. This mission covered two purposes: 1) provide guidance to the CBCR in developing statistical methods to estimate the capital stock for the non-financial private sector (NFPS), and 2) provide TA in compiling balance sheets, as part of the annual accounts by institutional sector (AAIS) of Costa Rica.
Keywords:
ISCR; CR; balance sheet; asset; asset balance sheet project; financial asset account; government sector balance sheets; balance sheet calculation; asset improvement rate; Financial statements; Stocks; Fiscal accounting and reporting; Securities
Cover IMF Staff Country Reports
Republic of Belarus: Technical Assistance Report-Report on External Sectoral Accounts Mission (November 11-22, 2019)
International Monetary Fund. Statistics Dept.
The contents of this report constitute technical advice provided by the staff of the IMF to the authorities of the Republic of Belarus in response to their request for technical assistance. The principal purposes of the mission were to review with the National Statistical Committee of the Republic of Belarus (Belstat) current data sources; identify data sources that needed to be improved; demonstrate how to construct the tables; and prepare a work plan. The mission noted a few instances where the data could be improved through the provision of more detail or verification that the classification had been done correctly. The mission worked with Belstat staff to show how the currently available data sources should be used to compile sector balance sheets and how to use these data to construct the sector financial accounts. The mission recommended that Belstat prepare the financial balance sheets (FABS) for 2017 using the data presently available. The mission recommended that Belstat staff be encouraged to apply for courses on the FABS, such as those offered by the IMF.
Keywords:
ISCR; CR; Belstat; Belstat staff; accounts receivable; Belstat request; financial balance sheet; balance sheet data; retained earnings; asset holding; Financial statements; Stocks; External sector statistics; Currencies; Government finance statistics
Cover IMF Working Papers
Indonesia's Public Wealth: A Balance Sheet Approach to Fiscal Policy Analysis
Ms. Majdeline El Rayess
,
Avril Halstead
,
Jason Harris
,
Mr. John Ralyea
, and
Alexander F. Tieman
Public sector balance sheets (PSBS) provide a framework for comprehensive and deep analysis of fiscal risks and policies. To illustrate these benefits, this paper shows how PSBS analysis can be applied to assess risks to Indonesia’s public sector stemming from its public corporations. The paper also shows that the government’s plans to finance a ramp-up in public investment with additional tax revenue increases both economic growth and public wealth.
Keywords:
WP; asset; GDP; real GDP; investment; balance sheet; Public Sector Balance Sheet; Intertemporal Fiscal Balances; Public Investment; Indonesia.; asset revaluation; return on equity; public sector; baseline GDP; nonfinancial public corporation asset; cash flow; asset instrument; current ratio; Business enterprises; Financial statements; Public sector; Public investment spending; Stocks