Download or read book Barbados written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2014-02-12 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key findings of the Financial System Stability Assessment Report on Barbados. Barbados has a relatively well-developed financial system, including a large offshore sector. The onshore system is dominated by large, regionally active banks. Banking services to the population are also provided by the credit union sector. With a deteriorating fiscal situation and weak growth prospects, Barbados faces considerable macroeconomic vulnerabilities. Although the financial system does not appear to be a source of immediate risk, its position appears to be deteriorating, with implications for systemic stability.
Download or read book Monetary Policy in Times of Crisis written by Massimo Rostagno and published by Oxford University Press. This book was released on 2021 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first twenty years of the European Central Bank offer a unique insight into how a central bank can navigate macroeconomic insecurity and crisis. This volume examines the structures and decision-making processes behind the complex measures taken by the ECB to tackle some of the toughest economic challenges in the history of modern Europe.
Download or read book Central Banking in Barbados written by Harold Codrington and published by . This book was released on 1997 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Challenges in Central Banking written by Pierre L. Siklos and published by Cambridge University Press. This book was released on 2013-08-22 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changes in the field of central banking over the past two decades have been nothing short of dramatic. Moreover, they have spanned the globe. They include the importance of central bank autonomy, the desirability of low and stable inflation, and the vital role played by how central banks communicate their views and intentions to the markets and the public more generally. There remains considerable diversity nevertheless in the institutional framework affecting central banks, the manner in which the stance of monetary policy is determined and assessed, and the forces that dictate the conduct of monetary policy more generally. The global financial crisis, which began in the United States in 2007, only serves to highlight further the importance of central bank policies. The aim of this volume is to take stock of where we are in the realm of the practice of central banking and considers some of the implications arising from the ongoing crisis.
Download or read book The Rise of the People s Bank of China written by Stephen Bell and published by Harvard University Press. This book was released on 2013-06-10 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: With $4.5 trillion in total assets, the People’s Bank of China now surpasses the U.S. Federal Reserve as the world’s biggest central bank. The Rise of the People’s Bank of China investigates how this increasingly authoritative institution grew from a Leninist party-state that once jealously guarded control of banking and macroeconomic policy. Relying on interviews with key players, this book is the first comprehensive and up-to-date account of the evolution of the central banking and monetary policy system in reform China. Stephen Bell and Hui Feng trace the bank’s ascent to Beijing’s policy circle, and explore the political and institutional dynamics behind its rise. In the early 1990s, the PBC—benefitting from political patronage and perceptions of its unique professional competency—found itself positioned to help steer the Chinese economy toward a more liberal, market-oriented system. Over the following decades, the PBC has assumed a prominent role in policy deliberations and financial reforms, such as fighting inflation, relaxing China’s exchange rate regime, managing reserves, reforming banking, and internationalizing the renminbi. Today, the People’s Bank of China confronts significant challenges in controlling inflation on the back of runaway growth, but it has established a strong track record in setting policy for both domestic reform and integration into the global economy.
Download or read book Barbados written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2018-10-04 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: The key objectives of the program are to restore macroeconomic and debt sustainability, address falling reserves, and increase growth. The new government, which took office in late May, has committed to fiscal consolidation and structural reform as key tools for macroeconomic adjustment.
Download or read book Central Banking in Developing Countries written by Álvaro Almeida and published by Routledge. This book was released on 1996-05-30 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the current state of central banking in 44 developing countries. The authors analyse the banks' achievement in their primary objective of price stability and discuss the reasons behind the general lack of success. The book covers: * government financing * foreign exchange systems * domestic banking systems. Rich in data, the book contains original financial information from Africa, Asia, the Middle East, Europe, Latin America and the Caribbean. The lay-out is user-friendly and generously illustrated with tables, figures, boxed material and useful appendices. The book is published in association with the Bank of England and presents the definitive account of the role of central banks in developing countries.
Download or read book The Bitcoin Standard written by Saifedean Ammous and published by John Wiley & Sons. This book was released on 2018-03-23 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive and authoritative exploration of Bitcoin and its place in monetary history When a pseudonymous programmer introduced "a new electronic cash system that’s fully peer-to-peer, with no trusted third party" to a small online mailing list in 2008, very few people paid attention. Ten years later, and against all odds, this upstart autonomous decentralized software offers an unstoppable and globally accessible hard money alternative to modern central banks. The Bitcoin Standard analyzes the historical context to the rise of Bitcoin, the economic properties that have allowed it to grow quickly, and its likely economic, political, and social implications. While Bitcoin is an invention of the digital age, the problem it purports to solve is as old as human society itself: transferring value across time and space. Author Saifedean Ammous takes the reader on an engaging journey through the history of technologies performing the functions of money, from primitive systems of trading limestones and seashells, to metals, coins, the gold standard, and modern government debt. Exploring what gave these technologies their monetary role, and how most lost it, provides the reader with a good idea of what makes for sound money, and sets the stage for an economic discussion of its consequences for individual and societal future-orientation, capital accumulation, trade, peace, culture, and art. Compellingly, Ammous shows that it is no coincidence that the loftiest achievements of humanity have come in societies enjoying the benefits of sound monetary regimes, nor is it coincidental that monetary collapse has usually accompanied civilizational collapse. With this background in place, the book moves on to explain the operation of Bitcoin in a functional and intuitive way. Bitcoin is a decentralized, distributed piece of software that converts electricity and processing power into indisputably accurate records, thus allowing its users to utilize the Internet to perform the traditional functions of money without having to rely on, or trust, any authorities or infrastructure in the physical world. Bitcoin is thus best understood as the first successfully implemented form of digital cash and digital hard money. With an automated and perfectly predictable monetary policy, and the ability to perform final settlement of large sums across the world in a matter of minutes, Bitcoin’s real competitive edge might just be as a store of value and network for the final settlement of large payments a digital form of gold with a built-in settlement infrastructure. Ammous’ firm grasp of the technological possibilities as well as the historical realities of monetary evolution provides for a fascinating exploration of the ramifications of voluntary free market money. As it challenges the most sacred of government monopolies, Bitcoin shifts the pendulum of sovereignty away from governments in favor of individuals, offering us the tantalizing possibility of a world where money is fully extricated from politics and unrestrained by borders. The final chapter of the book explores some of the most common questions surrounding Bitcoin: Is Bitcoin mining a waste of energy? Is Bitcoin for criminals? Who controls Bitcoin, and can they change it if they please? How can Bitcoin be killed? And what to make of all the thousands of Bitcoin knockoffs, and the many supposed applications of Bitcoin's 'block chain technology'? The Bitcoin Standard is the essential resource for a clear understanding of the rise of the Internet’s decentralized, apolitical, free-market alternative to national central banks.
Download or read book Annual Report Central Bank of Barbados written by Central Bank of Barbados and published by . This book was released on 2004 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Barbados written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2019-12-18 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents 2019 Article IV Consultation with Barbados and its Second Review Under the Extended Arrangement, Request for Completion of the Financing Assurances Review, and Modification of Performance Criteria. The Article IV discussions focused on fiscal adjustment, medium-term growth and resilience to climate change and natural disasters. The Barbadian authorities continue to make good progress in implementing the comprehensive Economic Recovery and Transformation (BERT) plan aimed at restoring fiscal and debt sustainability, rebuilding reserves, and increasing growth. All program targets for end-June and end-September 2019 have been met. All three structural benchmarks for the second review have also been met. The authorities have continued the reform of state-owned enterprises (SOEs) by completing a review of tariffs and fees charged by SOEs, tightening reporting requirements, and reducing costs. The authorities reached agreement with the External Creditor Committee on a restructuring of external debt to private creditors in October 2019 and launched a debt exchange offer in early November. The IMF Staff proposes modification of the performance criteria relating to the primary balance, net international reserves and net domestic assets.
Download or read book Threshold Effects of Sovereign Debt written by Kevin Greenidge and published by International Monetary Fund. This book was released on 2012-06-01 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper addresses the issue of threshold effects between public debt and economic growth in the Caribbean. The main finding is that there exists a threshold debt to gross domestic product (GDP) ratio of 55–56 percent. Moreover, the debt dynamics begin changing well before this threshold is reached. Specifically, at debt levels lower than 30 percent of GDP, increases in the debt-to-GDP ratio are associated with faster economic growth. However, as debt rises beyond 30 percent, the effects on economic growth diminishes rapidly and at debt levels reaching 55-56 percent of GDP, the growth impacts switch from positive to negative. Thus, beyond this threshold, debt becomes a drag on growth.
Download or read book Nurturing Institutions for a Resilient Caribbean written by Diether Beuermann and published by Inter-American Development Bank. This book was released on 2018-09-26 with total page 564 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book explores the historical development and status of political and economic institutions in The Caribbean. The Caribbean institutional reality is studied vis-à-vis best international practices. The main objective is identifying positive aspects and institutional areas in need of improvement that could facilitate a sustainable development path in The Caribbean.
Download or read book Barbados written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2020-06-08 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on Barbados’ Third Review Under the Extended Arrangement, Requests for Augmentation of Access, and Modification of Performance Criteria. Barbados continues its strong implementation of the comprehensive Economic Recovery and Transformation plan aimed at restoring fiscal and debt sustainability and increasing reserves and growth. The ongoing global coronavirus pandemic poses a major challenge for the economy, which is heavily dependent on tourism, and is expected to have a large impact on the balance of payments and the fiscal accounts. State-owned enterprise (SOE) reform remains an essential element of Barbados’ economic program. In order to secure fiscal space for investment in physical and human capital, transfers to SOEs need to decline after the global coronavirus pandemic with a combination of stronger oversight of SOEs, cost reduction, revenue enhancement, and mergers and divestment. Progress in restoring fiscal sustainability must be safeguarded by adopting a new central bank law that limits its financing of the Government to short-term advances and strengthens the central bank’s mandate, autonomy, and decision-making structures. A strong recovery after the global pandemic will depend on accelerating structural reforms. There is much room for improvement in the business climate. Establishing a credit registry and credit collateral registry, in addition to broadening the types of eligible collateral, would facilitate access to credit.
Download or read book The Age of Central Banks written by Curzio Giannini and published by Edward Elgar Publishing. This book was released on 2011 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: Curzio had one of the most fertile and original minds ever to be deployed on questions relating, first, to the interactions between Central Banks, private sector financial intermediaries and the government, and second to the working of the international monetary system in general, and to the role of the IMF specifically within that. His approach has been to apply a theory of history , which provides a beautifully written and illuminating book, much easier and nicer to read and more rounded than the limited mathematical models that have so monopolised academia in recent decades. From the foreword by Charles A.E. Goodhart Curzio Giannini s history of the evolution of central banks illustrates how the most relevant institutional developments have taken place at times of widespread confidence crises and in response to deflationary pressures. The eminent and highly-renowned author provides an analytical perspective to study the evolution of central banking as an endogenous response to crisis and to the ever increasing needs of economic growth. The key argument of the analysis is that crucial innovations in the payment technology (from the invention of coinage to the development of electronic money) could not have taken place without an institution i.e. the central bank - that could preserve confidence in the instruments used as money. According to Curzio Giannini s neo-institutionalist methodological approach, social institutions are, in fact, essential in the coordination of individual decisions as they minimize transaction costs, overcome information asymmetries and deal with incomplete contracts. This enlightening and revealing historical theory perspective on central banking will prove a thought-provoking read for academic and institutional economists, economic historians, and economic policymakers involved in the task of crafting a new institutional arrangement for central banking in the globalized economy.
Download or read book Barbados written by Charles Amo Yartey and published by International Monetary Fund. This book was released on 2012-01-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses the balance sheet approach to analyze macroeconomic vulnerabilities in Barbados between 2006 and 2009. It discusses the financial position of the economy and its main sectors and the sectors' exposure to changes in exchange rates. The main finding of the analysis is that the balance sheet of the aggregate economy has been weakened by the recent deterioration in the balance sheet of the nonfinancial public sector. Macroeconomic vulnerabilities have increased in Barbados since 2006 due to the high public debt and the deterioration in the net financial position with nonresidents. The private sector, however, maintained a healthy position and seems resilient to shocks. The paper also finds the balance sheet of the nonfinancial public sector has deteriorated significantly reflecting weak fiscal performance. While the central government is highly vulnerable to exchange rate shock, debt rollover risks are likely to be limited since most of external liabilities are long term and most domestic liabilities are held by the National Insurance System.
Download or read book Barbados written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2023-07-05 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt: After successfully weathering a series of shocks in recent years, the Barbadian economy is recovering strongly driven by a rebound in tourism and related activities. Public debt was brought back onto a downward trajectory and international reserves have risen to over 7 months of imports. The authorities are making good progress in implementing their updated Economic Recovery and Transformation (BERT) plan and their ambitious climate policy agenda. Following the completion of the 2018-22 Extended Fund Facility (EFF), a successor 36-month EFF arrangement along with a Resilience and Sustainability Facility (RSF) were approved in December 2022. The authorities are strongly committed to strengthen fiscal sustainability, advance structural reforms, and increase resilience to climate change and natural disasters.
Download or read book Quarterly Report Central Bank of Barbados written by Central Bank of Barbados and published by . This book was released on 1980 with total page 556 pages. Available in PDF, EPUB and Kindle. Book excerpt:
