Front Matter Page
How to Notes
FISCAL POLICY
How to Strengthen the Management of Government Guarantees
FISCAL AFFAIRS DEPARTMENT | INTERNATIONAL MONETARY FUND
Front Matter Page
©2017 International Monetary Fund
Cover Design: IMF Multimedia Services
Composition: The Grauel Group
Cataloging-in-Publication Data
Joint Bank-Fund Library
Names: Saxena, Sandeep | International Monetary Fund. Fiscal Affairs Department.
Title: How to Strengthen the Management of Government Guarantees/ this note was prepared by Sandeep Saxena.
Other titles: Fiscal policy, how to improve the financial oversight of public corporations | How to notes (International Monetary Fund); 5
Description: [Washington, DC] : Fiscal Affairs Department, International Monetary Fund, 2017. | How to notes / International Monetary Fund; 5 | October 2017. | Includes bibliographical references.
Identifiers: ISBN 9781484316436
Subjects: LCSH: Corporate governance—Quality control. | Corporations--Evaluation.
ISBN 978–1-48431–643-6 (paper)
DISCLAIMER: Fiscal Affairs Department (FAD) How-To Notes offer practical advice from IMF staff members to policymakerson important fiscal issues. The views expressed in FAD How-To Notes are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Contents
Introduction
Types of Guarantees
Evaluating a Guarantee Proposal
Mitigating Risks
Budgeting for Guarantees
Accounting and Reporting for Guarantees
Strengthening the Institutional Arrangements
Boxes
Box 1. Steps to Strengthen the Management of Guarantees
Box 2. The Netherlands’ Policy Framework for Contingent Liabilities
Box 3. United Kingdom’s Checklist for Evaluating Proposals for Contracting Contingent Liabilities
Box 4. Credit Risk Valuation in Colombia and Turkey
Box 5. Limiting Guarantees in Brazil
Box 6. Determining Guarantee Fees in the Australian State of New South Wales
Box 7. Budgeting for Loans and Guarantees in the United States
Box 8. New Zealand: Reporting of Contingent Liabilities
Box 9. Monitoring of Guarantees in Iceland
Figure
Figure 1. Stock of Government Guarantees in European Countries (2015)
Table
Table 1. Practice on Budgeting for Guarantees
References