Download or read book 2013 Pilot External Sector Report Individual Economy Assessments written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2013-06-20 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: The external sector assessments use a wide range of methods, including the External Balance Assessment developed by the IMF’s Research Department to estimate desired current account balances and real exchange rates (Boxes 6, 7 and Annex III of the Pilot Report describe the methodology and challenges). In all cases, the overall assessment is based on the judgment of IMF staff drawing on the inputs provided by these model estimates and other analysis and the estimates are subject to uncertainty. The assessments were initially based on the Spring 2013 WEO and an exchange rate reference period of the average of 2012. Potential policy responses are those which would work to reduce imbalances.
Download or read book 2013 Pilot External Sector Report written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2013-06-20 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF’s Second Pilot External Sector Report presents a multilaterally consistent assessment of the largest economies’ external sector positions and policies for 2012-2013 H1. The report integrates the analysis from the Fund’s bilateral and multilateral surveillance to provide a coherent assessment of exchange rates, current accounts, reserves, capital flows, and external balance sheets. The report takes into account feedback received on the previous report by placing a greater emphasis on capital flows and through further refinements to the EBA methodology. Together with the Spillover Report and Article IV consultations (with their heightened focus on spillovers), this Report is part of a continuous effort to ensure the Fund is in a good position to address the possible effects of spillovers from members’ policies on global stability and monitor the stability of members’ external sectors in a comprehensive manner.
Download or read book 2015 External Sector Report Individual Economy Assessments written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-06-29 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The external sector assessments use a wide range of methods, including the External Balance Assessment (EBA) developed by the IMF’s Research Department to estimate desired current account balances and real exchange rates (see Annex I of the 2015 External Sector Report, also IMF Working Paper WP/13/272 for a complete description of the EBA methodology). In all cases, the overall assessment is based on the judgment of IMF staff drawing on the inputs provided by these model estimates and other analysis and the estimates are subject to uncertainty. The assessments discuss a broad range of external indicators: the current account, the real effective exchange rate, capital and financial accounts flows and measures, FX intervention and reserves and the foreign asset or liability position. The individual economy assessments are discussed with the respective authorities as a part of bilateral surveillance.
Download or read book 2014 Pilot External Sector Report written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-06-26 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF’s third Pilot External Sector Report (ESR) presents a multilaterally consistent assessment of the largest economies’ external sector positions and policies for 2013 and early 2014. The report integrates the analysis from the Fund’s bilateral and multilateral surveillance to provide a coherent assessment of exchange rates, current accounts, reserves, capital flows, and external balance sheets. Together with the Spillover Report and Article IV consultations (with their heightened focus on spillovers), this Report is part of a continuous effort to ensure the Fund is in a good position to address the possible effects of spillovers from members’ policies on global stability and monitor the stability of members’ external sectors in a comprehensive manner.
Download or read book The External Balance Assessment EBA Methodology written by Mr.Steven Phillips and published by International Monetary Fund. This book was released on 2014-01-13 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The External Balance Assessment (EBA) methodology has been developed by the IMF’s Research Department as a successor to the CGER methodology for assessing current accounts and exchange rates in a multilaterally consistent manner. Compared to other approaches, EBA emphasizes distinguishing between the positive empirical analysis and the normative assessment of current accounts and exchange rates, and highlights the roles of policies and policy distortions. This paper provides a comprehensive description and discussion of the 2013 version (“2.0”) of the EBA methodology, including areas for its further development.
Download or read book World Economic Outlook October 2013 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2013-10-08 with total page 657 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global growth is in low gear, and the drivers of activity are changing. These dynamics raise new policy challenges. Advanced economies are growing again but must continue financial sector repair, pursue fiscal consolidation, and spur job growth. Emerging market economies face the dual challenges of slowing growth and tighter global financial conditions. This issue of the World Economic Outlook examines the potential spillovers from these transitions and the appropriate policy responses. Chapter 3 explores how output comovements are influenced by policy and financial shocks, growth surprises, and other linkages. Chapter 4 assesses why certain emerging market economies were able to avoid the classical boom-and-bust cycle in the face of volatile capital flows during the global financial crisis.
Download or read book Indonesia written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2013-12-15 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2013 Article IV Consultation highlights that in recent years, the Indonesian economy has benefited from a supportive global economic environment, namely in the form of a rise in commodity prices and strong growth in emerging markets. However, these conditions have been less supportive lately, resulting in slowing export growth. Combined with rising net oil and gas imports, the current account shifted into a deficit in 2012. Nonetheless, real GDP growth in 2012 remained strong at 61⁄4 percent, aided by domestic conditions, while inflationary pressures stayed low. Going forward, the near-term outlook reflects the more challenging global environment that Indonesia faces.
Download or read book 2014 Trienial Surveillance Review External Study Report on Interviews written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-07-30 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Download or read book South Africa written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2013-10-01 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2013 Article IV Consultation highlights that South Africa’s economy has underperformed other emerging markets and commodity exporters, exacerbating South Africa’s already-high levels of unemployment (25 percent) and inequality, and contributing to rising social tensions. At the same time, weak trading partner growth, coupled with declining competitiveness and countercyclical fiscal policy, have led to rising fiscal and current account deficits and made South Africa vulnerable to a prolonged reversal of capital inflows. The outlook is for continued sluggish growth and elevated current account deficits. Growth is projected at 2 percent in 2013 as weak consumption growth and lackluster private investment offset robust public investment and higher export growth.
Download or read book IEO Evaluation Report written by International Monetary Fund. Independent Evaluation Office and published by International Monetary Fund. This book was released on 2014-04-30 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Independent Evaluation Office (IEO) was established by the IMF’s Executive Board in 2001. It provides objective and independent evaluation of issues related to the IMF. The IEO operates independently of IMF management and at arm’s length from the IMF Executive Board. For more information on the IEO’s activities, visit the IEO website: www.ieo-imf.org.
Download or read book IMF Exchange Rate Policy Advice written by Louellen Stedman and published by International Monetary Fund. This book was released on 2017-12-27 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report is the seventh in a series of evaluation updates by the Independent Evaluation Office of the IMF (IEO) that return to past IEO evaluations and assess the continuing relevance of their main conclusions. The report revisits the 2007 evaluation of IMF Exchange Rate Policy Advice, which found that the IMF was “not as effective as it needed to be” in fulfilling its responsibilities for exchange rate surveillance in the period 1999–2005. While acknowledging the inherent complexity of providing exchange rate policy advice, including the lack of professional consensus on many of the key issues, the evaluation observed serious weaknesses in the IMF’s work on key analytical issues and in its engagement with members. The update finds that the IMF has substantially overhauled its approach to exchange rate policy advice since 2007. Key steps taken include: adoption of a more comprehensive approach to exchange rate surveillance under the 2012 Integrated Surveillance Decision; development of enhanced analytical tools; a new institutional view on capital flows; and introduction of the annual External Sector Report that provides an integrated picture of the external balances of major economies. The IMF continues to work on further enhancements of its approach. Nonetheless, the update concludes that challenges remain that impact the effectiveness of the IMF’s work in an area central to its mandate. The approach for assessing external balances and exchange rates continues to be contentious, in part reflecting differing views across the membership about the process of external adjustment. There are also ongoing questions in other areas, including considerations for exchange rate regime choice, attention to policy spillovers, the institutional view on capital flows, and data availability. The update suggests that the persistence of key issues identified in 2007 merits a full evaluation by the IEO.
Download or read book Guidance Note on the Fund s Transparency Policy written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2013-11-27 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides guidance to staff on the implementation of the Fund’s Transparency Policy. The objectives of the policy include strengthening the Fund’s effectiveness by providing the public with access to Fund views and deliberations, thus informing public debate and building traction for the Fund’s advice, supporting the quality of surveillance and of programs, by subjecting the Fund to outside scrutiny, and enhancing the Fund’s legitimacy by making the institution more accountable. A Transparency Policy Decision (referred to in the remainder of this note as “the Decision”) sets out rules for the modification and publication of all Board documents. A number of changes to the Decision were adopted by the Executive Board on June 24, 2013 (See Box 1 and 2013 Review of the Fund’s Transparency Policy, May 14, 2013, Background Paper, May 14, 2013, and Supplementary Information and Revised Proposed Decisions, June 17, 2013).
Download or read book Germany written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2013-08-06 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2013 Article IV Consultation highlights that Germany’s economic rebound of 2010–11 gave way to weakening momentum during the course of 2012. Although exports to non-European trading partners began to recover by mid-2012, in line with improved prospects in the United States and emerging economies, exports to the rest of the euro area continued to decline as the recession in the region continued. Consumption grew robustly as German unemployment remained near post-reunification lows. The outlook for the remainder of 2013 and 2014 is heavily dependent on a gradual recovery in the rest of the euro area and a sustained reduction in uncertainty.
Download or read book International Monetary Reform written by John Williamson and published by Routledge. This book was released on 2015-10-08 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is a contribution to the debates surrounding international monetary reform. The author examines and analyses the workings of the International Monetary Fund (IMF) and suggests how the international monetary system could, through changes to the IMF, be reshaped and reformed. Chapters examine the Palais-Royal report, explain how the IMF could be granted unlimited bailout powers to confront a global crisis, propose an exchange-rate based mechanism by which the international community could discipline excessive imbalances, examine alternative possibilities for the supply of future reserves, advocate `enthronement of the Special Drawing Right’, and discuss the obstacles in the way of such an ambitious reform agenda.
Download or read book Updated Guidance Note on the Fund s Transparency Policy written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2014-08-04 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note provides guidance to staff on the implementation of the Fund’s Transparency Policy. The objectives of the policy include strengthening the Fund’s effectiveness by providing the public with access to Fund views and deliberations, thus informing public debate and building traction for the Fund’s advice, supporting the quality of surveillance and of programs, by subjecting the Fund to outside scrutiny, and enhancing the Fund’s legitimacy by making the institution more accountable. A Transparency Policy Decision (referred to in the remainder of this note as “the Decision”) sets out rules for the modification and publication of all Board documents.
Download or read book Why International Cooperation is Failing written by Thomas Kalinowski and published by Oxford University Press. This book was released on 2019-09-18 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the global financial crisis of 2008/09, international cooperation has failed to curb volatile financial markets. Changes in the global rules of finance discussed in the G20 during the last decade remain limited, and it is uncertain whether they are suitable to help mitigate and manage future crises to come. This book offers an alternative to the popular notion that this failure is the result of the 'nature' of the international system, the clash of national egoisms, or lack of leadership. It instead investigates problems of international cooperation by looking at their deeper structural origins in the competition of different models of capitalism. US finance-led, EU integration-led, and East Asian state-led capitalism complement each other globally but have conflicting preferences on how to regulate international finance. This interdependence of capitalist models is relatively stable but also prone to crises caused by volatile financial flows, global economic imbalances, and 'currency wars'. By bringing together approaches from International Political Economy and Comparative Capitalism, this book shows that regulating international finance is not a technocratic exercise of fine-tuning the machinery of international institutions, but rather a political process. International cooperation can only be successful if it goes hand in hand with deep domestic changes in each of these capitalist models.
Download or read book Managing the Middle Income Transition written by Juzhong Zhuang and published by Edward Elgar Publishing. This book was released on 2015-02-27 with total page 593 pages. Available in PDF, EPUB and Kindle. Book excerpt: The growth model of the People�s Republic of China (PRC) has been based on high investment and exports, a low-cost advantage, and government interventions. This model has successfully transformed the country from a low-income to an upper middle-income
