Download or read book Further Consideration of a New Liquidity Instrument for Market Access Countries Design Issues written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2007-02-13 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on a specific set of issues -- qualification criteria, monitoring structure, access levels and terms, links to other Fund facilities, and links to the private sector. This paper is a complement and follow-up to an earlier paper, which itself considered the broader issues involved in creating a new instrument. The paper does not put forward a concrete proposal to Directors, but seeks to achieve a further convergence of views on these key issues.
Download or read book Consideration of a New Liquidity Instrument for Market Access Countries written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2006-04-08 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this paper is to consider key issues in the design of a new liquidity instrument for market access countries. It reviews the motivations and challenges of creating such an instrument and lays out options and issues related to four key design elements. Recognizing the need to consider the relationship between these elements, the paper sets out an example of how they might be combined in a lending instrument – called here the Reserve Augmentation Line, or RAL. It also discusses risks.
Download or read book Review of the Fund s Financing Role in Member Countries written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2008-08-28 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper raises and discusses issues related to how the Fund provides financial assistance to its members. It is part of the strategic review to ensure the Fund remains relevant and effective. The objective is not to increase Fund lending, but to make sure the Fund has the right instruments and policies to help all of its members—with appropriate protection of Fund resources—as they integrate into a world of growing and increasingly complex cross-border flows. Other institutions (including major central banks and the World Bank) also are retooling their lending instruments and in the process grappling with similar issues. The paper offers a high-level view of the issues and does not make specific policy proposals. Policy proposals will be presented in follow-up papers, some of which are planned for Board discussion later in 2008.
Download or read book Review of Fund Facilities Analytical Basis for Fund Lending and Reform Options written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2009-06-02 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the context of the ongoing review of Fund facilities, this paper examines the analytical basis for Fund lending in emerging market countries and provides a broad-ranging perspective for reforming the General Resources Account (GRA) lending toolkit. The Fund’s important lending role in crisis prevention and resolution is buttressed by its unique characteristics: (i) its ability as a nonatomistic lender to provide large-scale financing and reduce the likelihood of a run by private creditors; (ii) its ability as a cooperative institution with near-universal membership to agree conditionality with members, thus providing national authorities with a policy commitment tool to underpin confidence and catalyze private lending; and (iii) its de facto preferred creditor status, which allows it to provide crisis financing when private creditors may be reluctant to lend.
Download or read book The Fund s Mandate The Future Financing Role Reform Proposals written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2010-11-08 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the implications of the Fund accepting membership in the Financial Stability Board (“FSB”). The FSB Charter (the ?Charter?) explicitly contemplates the possibility of the Fund and the other international financial institutions becoming members but notes that ?the acceptance of membership by the international financial institutions (IFIs) in the FSB is subject to the approval of their respective governing bodies.? An Executive Board decision is required for the Fund to accept membership and is proposed below.
Download or read book Fund Financial Support and Moral Hazard Analytics and Empirics written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2007-02-03 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since Fund financial support helps reduce the expected cost of crises, members and markets might engage in greater risk-taking; in other words, moral hazard. Empirically, however, the Fund’s rate of charge has adequately reflected the default risk it faces and the high political, social, and economic costs of crises are likely to limit debtor moral hazard. As regards the design of a contingent, crisis prevention instrument, the use of qualification standards can help address issues of debtor moral hazard directly. In addition, the small amounts of Fund financial support -- in relation to a country's financial needs -- suggest that creditor moral hazard is likely to be limited. While existing empirical tests are far from definitive, the paper suggests that creditor moral hazard is less likely to be a concern after the Fund sent the signal in mid-1998 that it would interrupt support when program success is unlikely.
Download or read book Bank of Canada Review written by Bank of Canada and published by . This book was released on 2007 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Monetary Fund Annual Report 2007 written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2007-10-17 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Annual Report 2007 to the Board of Governors reviews the IMF’s activities and policies during the financial year (May 1, 2006, through April 30, 2007). This year’s Report has been streamlined and translated into three more languages than in the past: Arabic, Japanese, and Russian. Besides an Overview, the chapters cover promoting financial and macroeconomic stability and growth through surveillance; program support; capacity building; technical assistance and training; and the IMF’s governance, organization, and finances. The full financial statements for the year and other appendixes are provided on a CD-ROM.
Download or read book Report of the Managing Director to the International Monetary and Financial Committee on the IMF s Policy Agenda written by International Monetary Fund and published by International Monetary Fund. This book was released on 2008-09-04 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper describes the policy changes that the Fund has made since the October 2007 IMFC meeting and the ways in which we plan to refocus the Fund’s work to support our members more strongly. It also describes the steps that management, staff, and the Executive Board have agreed to put our own house in order—to reform our governance, contain our spending, and solve our income problem.
Download or read book The Fund s Lending Framework and Sovereign Debt Further Considerations written by and published by INTERNATIONAL MONETARY FUND. This book was released on 2015-09-04 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: In discussing the June 2014 paper, Executive Directors broadly supported staff’s proposal to introduce more flexibility into the Fund’s exceptional access framework to reduce unnecessary costs for the member, its creditors, and the overall system. Directors’ views varied on staff’s proposal to eliminate the systemic exemption introduced in 2010. Many Directors favored removing the exemption but some others preferred to retain it and requested staff to consult further with relevant stakeholders on possible approaches to managing contagion. This paper offers specific proposals on how the Fund’s policy framework could be changed, presents staff’s analysis on the specific issue of managing contagion, and addresses some implementation issues. No Board decision is proposed at this stage. The paper is consistent with the Executive Board’s May 2013 endorsement of a work program focused on strengthening market-based approaches to resolving sovereign debt crises.
Download or read book Osaka City University Economic Review written by and published by . This book was released on 2008 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Assessing the Determinants and Prospects for the Pace of Market Access by Countries Emerging from Crisis Further Considerations written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2005-01-03 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper essentially confirms the main findings of the paper previously discussed by the Board. It (i) discusses the external conditions and the domestic economic policy stance needed for a country to reaccess international Capital markets and (2) describes other considerations to reaccess markets, including a communications strategy and the design of debt instruments to regain market access.
Download or read book A Primer on Managing Sovereign Debt Portfolio Risks written by Thordur Jonasson and published by International Monetary Fund. This book was released on 2018-04-06 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an overview of sovereign debt portfolio risks and discusses various liability management operations (LMOs) and instruments used by public debt managers to mitigate these risks. Debt management strategies analyzed in the context of helping reach debt portfolio targets and attain desired portfolio structures. Also, the paper outlines how LMOs could be integrated into a debt management strategy and serve as policy tools to reduce potential debt portfolio vulnerabilities. Further, the paper presents operational issues faced by debt managers, including the need to develop a risk management framework, interactions of debt management with fiscal policy, monetary policy, and financial stability, as well as efficient government bond markets.
Download or read book International Convergence of Capital Measurement and Capital Standards written by and published by Lulu.com. This book was released on 2004 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Staff Guidance Note on Macroprudential Policy written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-06-11 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note provides guidance to facilitate the staff’s advice on macroprudential policy in Fund surveillance. It elaborates on the principles set out in the “Key Aspects of Macroprudential Policy,” taking into account the work of international standard setters as well as the evolving country experience with macroprudential policy. The main note is accompanied by supplements offering Detailed Guidance on Instruments and Considerations for Low Income Countries
Download or read book Supporting FinTech Innovation in the Czech Republic Regulatory Sandbox Design Considerations written by OECD and published by OECD Publishing. This book was released on 2023-06-21 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: The FinTech sector is a nascent market in the Czech Republic, with only around one hundred regulated or unregulated FinTech firms. This report analyses the Czech FinTech ecosystem and identifies possible hurdles to innovative development.
Download or read book Where Credit is Due written by Gregory Smith and published by Oxford University Press. This book was released on 2021-12-01 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Borrowing is a crucial source of financing for governments all over the world. If they get it wrong, then debt crises can bring progress to a halt. But if it's done right, investment happens and conditions improve. African countries are seeking calmer capital, to raise living standards and give their economies a competitive edge. The African debt landscape has changed radically in the first two decades of the twenty-first century. Since the clean slate of extensive debt relief, states have sought new borrowing opportunities from international capital markets and emerging global powers like China. The new debt composition has increased risk, exacerbated by the 2020 coronavirus pandemic: richer countries borrowed at rock-bottom interest rates, while Africa faced an expensive jump in indebtedness. The escalating debt burden has provoked calls by the G20 for suspension of debt payments. But Africa's debt today is highly complex, and owed to a wider range of lenders. A new approach is needed, and could turn crisis into opportunity. Urgent action by both lenders and borrowers can reduce risk, while carefully preserving market access; and smart deployment of private finance can provide the scale of investment needed to achieve development goals and tackle the climate emergency.
