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Middle East and Central Asia > Qatar

You are looking at 1 - 10 of 18 items for :

  • Type: Journal Issue x
  • General Financial Markets: Government Policy and Regulation x
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Cover Policy Papers
Gulf Cooperation Council: Pursuing Visions Amid Geopolitical Turbulence: Economic Prospects and Policy Challenges for the GCC Countries
International Monetary Fund. Middle East and Central Asia Dept.
The Gulf Cooperation Council countries have successfully weathered recent turbulence in the Middle East, and their economic prospects remain favorable. Nonhydrocarbon activity has been strong amid reform implementation, although overall growth has decelerated due to cuts in oil production. The growth outlook is positive, as the envisaged easing of oil production cuts and natural gas expansion spur the recovery in the hydrocarbon sector, while the nonhydrocarbon economy continues to expand. External buffers remain comfortable despite current account balances having narrowed. Risks around the outlook are broadly balanced in the near term. More challenging medium-term risks, especially in the context of geoeconomic fragmentation and climate change, call for action on policy priorities to continue to strengthen the private sector and to diversify the economy.
Keywords:
economic diversification; financial stability; fiscal sustainability; GCC; productivity improvements; regional integration; GCC country; policy priority; B. GCC; GCC well; GCC public sector balance sheet; Labor markets; Fiscal rules; Total factor productivity; Global; Middle East; Middle East and Central Asia
Cover Global Financial Stability Report, October 2024
Global Financial Stability Report, October 2024
Steadying the Course: Uncertainty, Artificial Intelligence, and Financial Stability
International Monetary Fund. Monetary and Capital Markets Department

Abstract

Chapter 1 shows that although near-term financial stability risks have remained contained, mounting vulnerabilities could worsen future downside risks by amplifying shocks, which have become more probable because of the widening disconnect between elevated economic uncertainty and low financial volatility. Chapter 2 presents evidence that high macroeconomic uncertainty can threaten macrofinancial stability by exacerbating downside tail risks to markets, credit supply, and GDP growth. These relationships are stronger when debt vulnerabilities are elevated, or financial market volatility is low (during episodes of a macro-market disconnect). Chapter 3 assesses recent developments in AI and Generative AI and their implications for capital markets. It presents new analytical work and results from a global outreach to market participants and regulators, delineates potential benefits and risks that may arise from the widespread adoption of these new technologies, and makes suggestions for policy responses.

Keywords:
financial stability; vulnerabilities; uncertainty; risk; artificial intelligence; capital markets; tail risk; uncertainty index; monetary policy; mortgage rate; market liquidity risk; fiscal policy uncertainty; Emerging and frontier financial markets; Financial sector stability; Sovereign bonds; Credit; Global; Middle East; Europe; Central and Eastern Europe; South America
Cover Policy Papers
The Managing Director's Global Policy Agenda, Spring Meetings 2024: Rebuild, Revive, Renew
International Monetary Fund
The global economy has shown remarkable resilience, and appears headed for a soft landing. But buffers have been eroded, growth prospects are lackluster, and vulnerable countries are at risk of falling further behind. While inflation has fallen, it remains above target in many countries. Against this background, the key policy priorities are to: (i) rebuild buffers; (ii) revive medium-term growth; and (iii) renew the IMF’s commitment to ensure that our policies, lending toolkit, and governance are fit for purpose. Central banks need to finish the job on inflation, carefully managing its descent to target. With a soft landing in sight, policymakers’ focus needs to shift to fiscal consolidation to safeguard public finances. Reviving growth prospects will require accelerating structural reforms and joint efforts by countries to tackle transformational challenges. Firmly grounded in its mandate, working with its members, and in partnership with other international organizations, the IMF will continue to serve its members with policy advice, financial lifelines, and capacity development to help safeguard their economic and financial stability, a foundation for inclusive and sustainable growth.
Keywords:
Policy agenda; IMF surveillance; IMF-WTO dialogue; global Policy agenda; quota resource; lending capacity; Fiscal consolidation; Inclusive growth; Financial sector stability; Financial sector risk; Artificial intelligence; Global
Cover Staff Discussion Notes
Toward a Global Approach to Data in the Digital Age
Mr. Vikram Haksar
,
Mr. Yan Carriere-Swallow
,
Emran Islam
,
Andrew Giddings
,
Kathleen Kao
,
Emanuel Kopp
, and
Gabriel Quiros
The ongoing economic and financial digitalization is making individual data a key input and source of value for companies across sectors, from bigtechs and pharmaceuticals to manufacturers and financial services providers. Data on human behavior and choices—our “likes,” purchase patterns, locations, social activities, biometrics, and financing choices—are being generated, collected, stored, and processed at an unprecedented scale.
Keywords:
Data, finance, bigtech, competition, privacy, trade, policy coordination, global principles; data portability; DATA policies country; privacy trade-off; policy divergence; data availability divide; data economy; Digital economy; Competition; Financial sector stability; Artificial intelligence; Global
Cover IMF Staff Country Reports
People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Banking Sector: Supervision and Regulation
International Monetary Fund. Monetary and Capital Markets Department
Banking supervision and regulation by the Hong Kong Monetary Authority (HKMA) remain strong. This assessment confirms the 2014 Basel Core Principles assessment that the HKMA achieves a high level of compliance with the BCPs. The Basel III framework (and related guidance) and domestic and cross-border cooperation arrangements are firmly in place. The HKMA actively contributes to the development and implementation of relevant international standards. Updating their risk based supervisory approach helped the HKMA optimize supervisory resources. The HKMA’s highly experienced supervisory staff is a key driver to achieving one of the most sophisticated levels of supervision and regulation observed in Asia and beyond.
Keywords:
People's republic of china-Hong kong special administrative region; B. banking sector structure; holding company; China banking; People's Republic of China-Hong Kong Special Administrative Region FSAP; Bank supervision; Artificial intelligence; Commercial banks; Basel Core Principles; Bank soundness; Global; Central Asia; Asia and Pacific; External audit
Cover IMF Staff Country Reports
People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Implications of Fintech for the Regulation and Supervision of the Financial Sector
International Monetary Fund. Monetary and Capital Markets Department
he Hong Kong Special Administrative Region (HKSAR) is among the world’s major fintech hubs, well positioned to develop fintech initiatives from its traditional strengths in financial services. Key factors enabling the HKSAR to emerge as a fintech hub include its presence as an international financial center, its free-flowing talent and capital, a highly developed information and technology communication (ITC) infrastructure, and its most unique trait, a geographical and strategic advantage by proximity to the market in Mainland China.
Keywords:
People's Republic of China-Hong Kong Special Administrative Region FSAP; banking Supervision department; Hong Kong exchange; People's republic of china-Hong kong special administrative region; banking ordinance; Fintech; Blockchain and DLT; Financial sector; Artificial intelligence; Global
Cover Policy Papers
2021 Comprehensive Surveillance Review— Background Paper on Traction
International Monetary Fund. Strategy, Policy, & Review Department
This paper presents traction as a multidimensional concept and discusses a comprehensive and complementary set of approaches to attempt to measure it based on the Fund’s value added to policy dialogue and formulation and public debate in member countries.
Keywords:
article IV advice; fund policy advice; fund advice; policy dialogue; IMF's transparency policy; COVID-19; Income; Financial Sector Assessment Program; Financial sector stability; Machine learning; Global
Cover IMF Working Papers
Fintech Credit Risk Assessment for SMEs: Evidence from China
Yiping Huang
,
Ms. Longmei Zhang
,
Zhenhua Li
,
Han Qiu
,
Tao Sun
, and
Xue Wang
Promoting credit services to small and medium-size enterprises (SMEs) has been a perennial challenge for policy makers globally due to high information costs. Recent fintech developments may be able to mitigate this problem. By leveraging big data or digital footprints on existing platforms, some big technology (BigTech) firms have extended short-term loans to millions of small firms. By analyzing 1.8 million loan transactions of a leading Chinese online bank, this paper compares the fintech approach to assessing credit risk using big data and machine learning models with the bank approach using traditional financial data and scorecard models. The study shows that the fintech approach yields better prediction of loan defaults during normal times and periods of large exogenous shocks, reflecting information and modeling advantages. BigTech’s proprietary information can complement or, where necessary, substitute credit history in risk assessment, allowing unbanked firms to borrow. Furthermore, the fintech approach benefits SMEs that are smaller and in smaller cities, hence complementing the role of banks by reaching underserved customers. With more effective and balanced policy support, BigTech lenders could help promote financial inclusion worldwide.
Keywords:
WP; credit history; Fintech firm; house ownership; internet company; real-time customer rating; Fintech lending; Credit risk assessment; Big data; Machine learning; micro firm; firms' access; medium-size enterprise; firm size; adverse selection; firm's real-time customer rating; fixed cost; information advantage; BigTech company; MYbank loan; Fintech; Credit risk; Loans; Bank credit; b. firm location; fintech approach; cash flows
Cover IMF Working Papers
How Do Member Countries Receive IMF Policy Advice: Results from a State-of-the-art Sentiment Index
Ms. Ghada Fayad
,
Chengyu Huang
,
Yoko Shibuya
, and
Peng Zhao
This paper applies state-of-the-art deep learning techniques to develop the first sentiment index measuring member countries’ reception of IMF policy advice at the time of Article IV Consultations. This paper finds that while authorities of member countries largely agree with Fund advice, there is variation across country size, external openness, policy sectors and their assessed riskiness, political systems, and commodity export intensity. The paper also looks at how sentiment changes during and after a financial arrangement or program with the Fund, as well as when a country receives IMF technical assistance. The results shed light on key aspects on Fund surveillance while redefining how the IMF can view its relevance, value added, and traction with its member countries.
Keywords:
WP; IMF Policy advice; commodity price; Fund advice; IMF increase fund traction; IMF quota; sentiment index; policy advice; Fund policy assessment; IMF member countries' reception; increase fund traction; IMF member countries' reception of Fund advice; IMF article IV staff report; Commodity price fluctuations; Machine learning; Financial sector; Financial Sector Assessment Program; Commodity prices; Global; Surveillance; Economic Policy; Sentiment Analysis; Natural Language Processing
Cover IMF Working Papers
Macroprudential Policy and Financial Stability in the Arab Region
Mr. Ananthakrishnan Prasad
,
Heba Abdel Monem
, and
Pilar Garcia Martinez
Several characteristics of the structure of the Arab economies, their economic policy framework, and their banking systems make macroprudential policy a particular relevant tool. For most oil exporters, heavy reliance on the extractive sector for generating fiscal revenues and export earnings translates into increased vulnerabilities to oil price shocks. In the case of oil importers, relatively small external and fiscal buffers make them highly vulnerable to shocks. This paper discusses the experience of Arab countries in implementing macroprudential policies and contains recommendations to strengthen their macroprudential framework.
Keywords:
WP; capital market; banking sector; legal reserve; price index; liquidity window; market cap; private sector; Macroprudential policy; systemic risk; credit; financial stability; a number of central banks; supervisory function; countries central banks; liquidity level; monetary policy independence; liquidity regulation; capital market authority; FX loan; Financial sector stability; Macroprudential policy instruments; Global