Download or read book Fifteenth and Sixteenth General Reviews of Quotas Report of the Executive Board to the Board of Governors written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2020-02-13 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: On January 16, 2020, the Executive Board adopted a Report to the Board of Governors proposing that the Board of Governors adopt a Resolution concluding the Fifteenth General Review of Quotas with no increase in quotas and providing guidance for the Sixteenth General Review of Quotas in line with the IMFC guidance in the October 19, 2019 Communiqué. The Resolution was adopted by the Board of Governors, effective February 7, 2020, and was designated No. 75-1.

Download or read book Sixteenth General Review of Quotas Report to the Board of Governors and Proposed Resolution and Proposed Decision to Extend the Deadline for a Review of the Borrowing Guidelines written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2023-12-18 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: A strong, quota-based, and adequately resourced IMF at the center of the Global Financial Safety Net is essential to safeguard global financial stability in an uncertain and shock-prone world. Building on three years of Committee of the Whole meetings, Executive Directors’ feedback, and recent guidance from the International Monetary and Financial Committee (IMFC), this paper sets out for consideration of the Executive Board a proposal for the conclusion of the Sixteenth General Review of Quotas (16th Review) with a 50 percent quota increase allocated to members in proportion to their quotas (“equiproportional increase”). The paper includes for the Executive Board’s approval a Report by the Executive Board to the Board of Governors (BoG) on such an increase, including a draft BoG Resolution. The proposed increase in quotas, once in effect, would replace Bilateral Borrowing Agreements and be linked to a rollback in credit arrangements under the New Arrangements to Borrow, in order to maintain the Fund’s lending capacity. The proposed quota increase would strengthen the quota-based nature of the Fund by reducing its reliance on borrowing, thus ensuring the primary role of quotas in Fund resources. Transitional arrangements for borrowed resources may be needed to maintain the Fund’s lending capacity beyond 2024 until the quota increase becomes effective. Given significant differences in views among members about the quota formula and how to implement a realignment of quota shares, the proposed equiproportional distribution of the quota increase would leave quota shares of members unchanged at this time. However, the membership has signaled the urgency and importance of quota share realignment to better reflect members’ relative positions in the world economy, while protecting the quota shares of the poorest members. Thus, the proposed BoG Resolution includes guidance, building on the recent IMFC discussions, namely to work to develop, by June 2025, possible approaches as a guide for further quota realignment, including through a new quota formula. This work would begin after conclusion of the 16th Review.

Download or read book Chinese Multilateralism in the Asian Infrastructure Investment Bank AIIB written by Bin Gu and published by Springer Nature. This book was released on with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fifteenth General Review of Quotas Notification from the Executive Board to the Board of Governors written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2020-02-13 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt: On December 20, 2019, the Executive Board notified the Board of Governors that it would not be able to report to the Board of Governors in time to facilitate a vote by the Board of Governors concluding the Fifteenth Review before the end of 2019, as previously envisaged, and that the Executive Board was expected to report to the Board of Governors around mid-January 2020 on the outcome of discussions on the Fifteenth Review, the goals and timetable for the Sixteenth Review, and on the way forward on IMF resources.

Download or read book Fifteenth General Review of Quotas Report of the Executive Board to the Board of Governors written by International Monetary Fund and published by International Monetary Fund. This book was released on 2016-02-11 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the report, the Executive Board proposes that the Board of Governors adopt a Resolution: (i) noting the Report of the Executive Board and expressing regret that the timetable for completing the Fifteenth Review established under Resolution No. 71-2 is no longer within reach; (ii) calling on the Executive Board to work on the Fifteenth Review expeditiously in line with existing Executive Board understandings and the guidance provided by the IMFC on October 8, 2016 with the aim of completing the Fifteenth Review by the 2019 Spring Meetings and no later than the 2019 Annual Meetings; (iii) requesting that the Executive Board report on progress on the Fifteenth Review to the Board of Governors semiannually, with a first report by the 2017 Annual Meetings; and (iv) urging the remaining members who have not yet consented to their quota increases under the Fourteenth General Review of Quotas to do so without further delay and urging the members who have consented to their quota increases to make their quota payments in a timely manner.

Download or read book Fifteenth General Review of Quotas Notification from the Executive Board to the Board of Governors written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2020-02-13 with total page 1 pages. Available in PDF, EPUB and Kindle. Book excerpt: On October 15, 2019, the Executive Board notified the Board of Governors that the conclusion of the Fifteenth Review was part of a package on Fund resources and governance reform on which discussions were still ongoing, and that it would report to the Board of Governors by November 2019 on the outcome of discussions on the Fifteenth Review, the goals and timetable for the Sixteenth Review, and on the way forward on IMF resources.

Download or read book Progress on the Fifteenth General Review of Quotas Report of the Executive Board to the Board of Governors October 2017 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-03-05 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the guidance on the Board of Governors Resolution No. 72-1 (December 2016), on October 4, 2017, the Executive Board discussed and adopted its first semi-annual report on progress on the Fifteenth Review. The report covered issues related to the quota formula and realigning quota shares as well as issues related to the adequacy of Fund resources, discussed in informal meetings on September 1 and on September 15, 2017, respectively.

Download or read book Fifteenth General Review of Quotas Quota Formula and Realigning Shares written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2021-03-05 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides background for an initial discussion under the Fifteenth General Review of Quotas (15th Review) in line with the work plan agreed by the Executive Board. It discusses issues related to further reforms of the quota formula and realigning quota shares, based on updated quota data through 2015. A companion paper, to be discussed separately, will address issues related to the size of the Fund and mix of quota and borrowed resources. Both these papers seek to facilitate initial discussions on some of the key issues for the 15th Review. No proposals are made at this stage, recognizing that further deliberations will be needed before the issues under discussion can begin to be narrowed down.

Download or read book Statement by The Managing Director on the Work Program of The Executive Board written by International Monetary Fund and published by International Monetary Fund. This book was released on 2020-01-16 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Work Program (WP) translates the strategic directions and policy priorities laid out in the Fall 2019 Global Policy Agenda (GPA) Update and the International Monetary and Financial Committee Communiqué into an Executive Board agenda from November 2019 to October 2020, focusing on the next six months. Its main policy priorities and deliverables are as follows: • Turn evidence-based analysis into actionable policy recommendations to make economies more resilient and inclusive • Contribute to improving the multilateral system and upgrading international cooperation to bring the benefits of integration to all • Modernize the Fund’s policy toolkits to meet the challenges of a fast-changing world • Safeguard the Fund’s financial strength and undertake an ambitious internal modernization agenda

Download or read book FY 2022 FY 2024 Medium Term Budget written by International Monetary and published by International Monetary Fund. This book was released on 2021-05-27 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amidst the unfolding COVID-19 crisis, the Fund faces twin challenges. Signs of early crisis recovery are uneven across countries, and many face daunting crisis legacies. At the same time, longer term challenges from climate change, digitalization and increasing divergence within and between countries demand stepped up effort by the Fund within its areas of expertise and in partnership with others. FY 22-24 budget framework. Considering these challenges and following a decade of flat real budgets, staff will propose a structural augmentation for consideration by fall 2021 to be implemented over two to three years beginning in FY 23. Recognizing the importance of ongoing fiscal prudence, the budget would remain stable thereafter on a real basis at a new, higher level. FY 22 administrative budget. The proposed FY 22 budget sustains crisis response and provides incremental resources for long-term priorities within the flat real budget envelope. The budget is built on extensive reprioritization; savings, including from modernization; and a proposed temporary increase in the carry forward ceiling to address crisis needs during the FY 22 to FY 24 period. Capital budget. Large-scale business modernization programs continue to be rolled out, strengthening the agility and efficiency of the Fund’s operations. In response to the shift towards cloud-based IT solutions, staff propose a change in the budgetary treatment of these expenses. Investment in facilities will focus on timely updates, repairs, and modernization, preparing for the post-crisis Fund where virtual engagement and a new hybrid office environment play a larger role. Budget sustainability. The FY 22–24 medium-term budget framework, including assumptions for a material augmentation, is consistent with a projected surplus in the Fund’s medium-term income position and with continued progress towards the precautionary balance target for coming years. Budget risks. In the midst of a global crisis, risks to the budget remain elevated and above risk acceptance levels, including from uncertainty around the level of demand for Fund programs and ensuing staffing needs, as well as future donor funding for CD. Enterprise risk management continues to be strengthened with this budget.

Download or read book Employment Relations and Global Governance written by Yvonne Rueckert and published by Routledge. This book was released on 2023-07-07 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalisation has created many opportunities for economic development, but it is also associated with rising income inequality and poverty. International crises such as the international financial and economic crisis of 2008, and more recently the global health pandemic, have led to a rise in unemployment and income losses for workers and a surge in the violation of workers’ rights. At global level intergovernmental organisations including the World Bank and the IMF are influential actors and policy makers which promote the UN Sustainable Development Goals. However, the International Financial Institutions (IFIs) have been criticised for their internal political power imbalances and macroeconomic policy prescriptions based on neo-liberal principles. The Global Unions and their affiliates as well as the International Labour Organisation (ILO) regularly comment on the negative impact of the IFI’s policies in regard to labour flexibilisation and the privatisation of public and social services. In 2002 a formalised dialogue was established between the Global Unions and the IFIs which addresses labour, social and environmental issues. This dialogue takes place at three levels: the country level, the sector level, and the headquarters level. The ILO maintains its own dialogue with the IFIs, but it also participates at the headquarters-level dialogue between the Global Unions and the IFIs. Employment Relations and Global Governance focuses on the headquarters-level dialogue which can be considered as a strategic instrument that helps the Global Unions and their affiliates to exercise influence over the policies of the IFIs, especially those policies which concern workers. The book describes and analyses the development of the dialogue since its establishment with a particular focus on factors which promote and hinder the dialogue. The book provides important insights into the real-world functioning of the institutions of economic global governance and its broader impact on the world of work. It is likely to be key reading for academics, researchers and students studying global employment relations, political economy, and international organisations. It will also be of interest to international and national trade unions, non-governmental organisations, and policy makers.

Download or read book The Future of Multilateralism written by Madeleine O. Hosli and published by Rowman & Littlefield. This book was released on 2021-07-29 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Future of Multilateralism addresses current challenges and future perspectives of international and regional organizations. It aims to uncover how stable the foundations of global cooperation really are, particularly in the light of the latest unilateral and protectionist practices of international players and challenges related to COVID-19. The post–World War II global order was built on the foundations of multilateral cooperation. The establishment of international institutions is aimed at avoiding another widespread collision like the two World Wars and to ensure peace and prosperity. Hence, the multilateral system was viewed as an effective mechanism in dealing and resolving various challenges at an international or a regional level. Given the effects of COVID-19 on the global, regional, state, and individual levels are so recent, very little research has been conducted to understand the challenges many multilateral institutions are facing due to the pandemic. This book uncovers the future of such organizations and prospects for the multilateral system, of which they constitute the building blocks, in view of recent trends and developments.

Download or read book Fifteenth General Review of Quotas Additional Considerations and Data Update written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2021-03-05 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides background for a further round of discussions on the Fifteenth General Review of Quotas (hereafter 15th Review). The paper builds on work presented in previous staff papers and Directors’ views expressed in three meetings of the Committee of the Whole in September 2017 and February 2018. No proposals are presented at this stage, pending further Board guidance on possible approaches to narrowing the current differences of views.

Download or read book Fifteenth General Review of Quotas Further Considerations written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2021-03-05 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper revisits the two-pillar framework for assessing the adequacy of Fund resources. Responding to Directors suggestions, the quantitative pillar is updated to include alternative assumptions and to provide a longer-term perspective on likely resource needs. While quantitative estimates are generally somewhat lower after factoring in the alternative assumptions, these reductions are more than outweighed when the analysis is extended through the middle of the next decade, recognizing that the outcome of the 15th Review will likely determine permanent Fund resources through at least the middle of the next decade. The updated qualitative pillar analysis highlights reforms since the global financial crisis and discusses uncertainties in the global environment. It also provides an assessment of the general impact of the various qualitative considerations. Taken together, the two pillars continue to make a case for at least maintaining existing Fund resources. Against this background, the simulations in the paper cover three illustrative sizes for quota increases (50, 75, and 100 percent), centered on broadly maintaining Fund resources, assuming the New Arrangements to Borrow (NAB) is maintained at its current level and Bilateral Borrowing Agreements (BBAs) expire.

Download or read book Progress on the Fifteenth General Review of Quotas Report of the Executive Board to the Board of Governors April 2018 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-03-05 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the guidance on the Board of Governors Resolution No. 72-1 (December 2016), on April 3, 2018, the Executive Board discussed and adopted its second semi-annual report on progress on the Fifteenth Review. The report covered issues relating to both the adequacy of Fund resources and the quota formula and realigning quota shares, discussed in an informal meeting on February 2, 2018 and building on the earlier discussions in the fall of 2017.

Download or read book Quotas Data Update and Simulations written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2016-09-08 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: The quota database has been updated by one year through 2014. Overall, the results of the update continue the broad trends observed in previous updates, but the shifts between the main country groups are generally smaller. Using the current quota formula, the calculated quota share of Emerging Market and Developing Countries (EMDCs) as a group increases by 0.6 percentage points relative to the 2015 update to 49.3 percent, which is about half the increase in the last update. The paper takes stock of recent discussions on the quota formula, including the outcome of the Quota Formula Review in 2013 and subsequent discussions in the context of the annual quota data updates. It also updates the illustrative simulations of possible reforms of the quota formula presented previously, using the latest data. These simulations have sought to capture possible reforms that would be broadly in line with the conclusions of the Quota Formula Review and Directors’ guidance is sought on the relative merits of these reforms and the most productive areas for future work. Download Quota Data: Updated IMF Quota Formula Variables - September 2016

Download or read book Report of the Executive Board to the Board of Governors on Progress on the Fifteenth General Review of Quotas written by International Monetary Fund and published by International Monetary Fund. This book was released on 2016-09-30 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt: In February 2016, the Board of Governors adopted Resolution No. 71-2 on the Fifteenth General Review of Quotas (hereafter the “Fifteenth Review”), which (i) welcomed the entry into force of the Seventh Amendment on the Reform of the Executive Board, allowing the quota increases under the Fourteenth Review to become effective; (ii) urged the members who had not yet consented to their Fourteenth Review quota increases to do so without further delay and urged the members who had consented to their quota increases to make their quota payments in a timely manner; (iii) regretted that the Fifteenth Review had not been completed by December 15, 2015, as mandated by the Articles of Agreement and as requested in Board of Governors Resolution No. 70 1, and resolved to continue the Fifteenth Review under Article III, Section 2(a) and called on the Executive Board to work expeditiously on the Fifteenth Review in line with previous Executive Board understandings, and with the aim of completing the Fifteenth Review by the 2017 Annual Meetings; and (iv) requested that the Executive Board report to the Board of Governors on progress on the Fifteenth Review by the 2016 Annual Meetings and the 2017 Spring Meetings. This report responds to that request.