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International Monetary Fund
The Background Notes in this Supplement provide essential context and analysis needed to understand the problem of governance and corruption, its impact on the economies of Fund members, and the history and nature of Fund engagement on these issues. They also seek to support the assessment of the Fund’s overall approach to promoting good governance and reducing corruption—including through the lenses of key stakeholders—with a view to identifying strength and closing any remaining gaps.
Ms. Elva Bova
,
Marta Ruiz-Arranz
,
Mr. Frederik G Toscani
, and
H. Elif Ture
We construct the first comprehensive dataset of contingent liability realizations in advanced and emerging markets for the period 1990–2014. We find that contingent liability realizations are a major source of fiscal distress. The average fiscal cost of a contingent liability realization is 6 percent of GDP but costs can be as high as 40 percent for major financial sector bailouts. Contingent liability realizations are correlated among each other and tend to occur during periods of growth reversals and crises, accentuating pressure on the budget during already difficult times. Countries with stronger institutions are able to better control and address the underlying risks so that they are less exposed to contingent liability realizations.
International Monetary Fund
In light of the multilateral effort to ensure the adequacy of the financial resources available to the International Monetary Fund (the “Fund”), and with a view to supporting the Fund’s ability to provide timely and effective balance of payments assistance to its members, the Swedish Riksbank (“Riksbank”) agrees to lend to the Fund an SDRdenominated amount up to the equivalent of EUR 2.47 billion, on the terms and conditions set out in this paper.
International Monetary Fund. External Relations Dept.
Mise à jour des perspectives, Débat sur le rôle du FMI, Les pays pauvres face à la crise, Europe orientale : risque de change, Entretien avec Hamad Al Suwaidi, Moyen-Orient et Asie centrale, Tensions dans le Pacifique, Un nouveau chef aux statistiques, L'actualité en bref.
International Monetary Fund. External Relations Dept.
Actualización de Perspectivas de la economía mundial; Debate sobre la función del FMI; Los países pobres frente a la crisis; Europa oriental: los riesgos del cambio; Entrevista a Hamad Al Suwaidi; Oriente Medio y Asia central; Tensiones en el Pacífico; Un nuevo jefe de Estadística; Notas breves
International Monetary Fund. External Relations Dept.
World Economic Outlook Update, IMF's Future role Debated, Poor Countries Face Crisis Impact, Eastern Europe's Currency Risk, Interview with Hamad Al Suwaidi, Mideast-Central Asia Outlook, Pacific Islands Face Pressures, Interview with IMF Statistics Director, News Briefs.