Download or read book Jordan Technical Assistance Report Forecasting Framework for Currency in Circulation written by International Monetary and published by International Monetary Fund. This book was released on 2022-04-07 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The currency in circulation forecasting model presently used by the Central Bank of Jordan is aligned with international practices and provides a solid basis for liquidity management. The central bank uses an Auto Regressive Integrated Moving Average (ARIMA) model with many indicator variables to model binary seasonality and to capture special events. The ARIMA model is fitted on daily currency in circulation data using a standard maximum likelihood estimator. This ARIMA approach is aligned with the models traditionally used by central banks in emerging and middle-income countries.
Download or read book Jordan written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2024-03-15 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Monetary Fund (IMF)’s Middle East Regional Technical Assistance Center (METAC) is currently assisting the Central Bank of Jordan (CBJ) in enhancing its risk-based supervision through the development of a Supervisory Review and Evaluation SRP framework inspired from European Central Bank (ECB) methodology. The Technical Assistance TA mission is part of a multi-step medium-term project. The TA mission aimed to design, in coordination with CBJ, a progressive multi-step roadmap defining the major milestones for a full implementation of SRP. The mission noted that several dimensions should be taken into consideration when implementing the SRP, most notably bridging the data gap by building a fully-fledged supervisory risk database through a dedicated IT project, assessing whether the current organization of the Banking Supervisory Department should be adjusted, and progressively cover all material sources of risks in the SRP.
Download or read book Jordan written by International Monetary Fund. Statistics Dept. and published by International Monetary Fund. This book was released on 2019-05-21 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Assistance report on Jordan discusses that financial system of Jordan is dominated by other depository corporations (ODC), which constitute around 63 percent of the financial system’s assets. The technical assistance mission delivered objectives and agreed with the authorities on an action plan to improve the country’s monetary statistics. Some progress has been made in the Central Bank trial accounts regarding the sectorization and classification of the financial instruments. The Central Bank of Jordan (CBJ) has made substantive progress in improving human resource skills among staff. The accounting principles are found to be broadly in line with the methodology of the IMF with some departures related to market valuation. The accounting and valuation methodology implemented by the ODCs in Jordan are broadly in line with the recommended compilation practices identified in the Monetary and Financial Statistics Manual and Compilation Guide. Considering the change in the source data since 2014, the mission re-mapped the source data, using data from the aggregated balance sheet of the banking sector and the accompanying schedules through a bridge table. The mission built a time series for all the required data and created a tool linking the data to the Standardized report forms. The tool provides CBJ staff with a simpler method for data compilation.
Download or read book United Arab Emirates written by International Monetary Fund. Monetary and Capital Markets Department and published by INTERNATIONAL MONETARY FUND. This book was released on 2022-07-22 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new Dirham Monetary Framework developed by the Central Bank of the United Arab Emirates (CBUAE) operationalizes a floor system and provides a complete set of instruments to manage liquidity under a fixed exchange rate arrangement and capital mobility. This technical assistance report presents an overview of this operational framework and a set of recommendations to streamline and further improve it especially with regards to: (i) the discontinuation of the FX swap facility; (ii) the issuance of central bank bills; (iii) the design of fine-tuning operations; and (iv) the design and calibration of the reserves requirements. Moreover, the report provides a complete liquidity forecasting infrastructure, using cutting-edge statistical methods, to project the changes in the supply of banks reserves through the forecast of the three main autonomous factors. It also offers a statistical approach to estimate the optimal liquidity surplus and calibrate the operational mix between the different liquidity absorptions instruments. At last, the report investigates the functioning and structure of the UAE money markets.
Download or read book Jordan written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2017-12-18 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Assistance Report discusses the recommendations given by the IMF mission on improving the public investment management in Jordan. Jordan’s public finances have deteriorated since the mid-2000s, resulting in a significant reduction in public investment. In response to several negative external shocks, notably the Iraq and Syria crises and the 2008 global financial crisis, the government has reduced public investment and stepped up the use of public-private partnerships (PPPs). It is recommended to improve the quality of strategic planning by clarifying roles and responsibilities, enhancing coordination mechanisms between the institutions involved, and ensuring that strategic projects go through the Executive Development Plan cycle. The oversight and disclosure practices of PPPs should also be strengthened.
Download or read book Powering the Digital Economy Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa and published by International Monetary Fund. This book was released on 2021-10-22 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Download or read book Dedollarization written by Mr.Romain Veyrune and published by International Monetary Fund. This book was released on 2010-08-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a summary of the key policies that encourage dedollarization. It focuses on cases in which the authorities’ intention is to gain greater control of monetary policy and draws on the experiences of countries that have successfully dedollarized. Unlike previous work on the subject, this paper examines both macroeconomic stabilization policies and microeconomic measures, such as prudential regulation of the financial system. This study is also the first attempt to make extensive use of the foreign exchange regulation data reported in the IMF’s Annual Report on Exchange Arrangements and Exchange Restrictions. The main conclusion is that durable dedollarization depends on a credible disinflation plan and specific microeconomic measures.
Download or read book The Design and Printing of Bank Notes written by Mr.Richard K. Abrams and published by International Monetary Fund. This book was released on 1995-03 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many newly independent or systemically transforming countries feel a pressing need to--or must--introduce their own national currency. Other countries simply wish to enhance the attractiveness, usefulness, durability, and/or security of their currencies. However, it is difficult to find consistent published information on the various aspects of this process. This paper attempts to ameliorate this problem by discussing the main issues in designing, producing, and printing a new currency, in order to help those charged with these tasks to proceed in an orderly and informed manner. Attention is also given to examining the options that may be available when this exercise must be undertaken on an emergency basis, with little or no warning.
Download or read book International Monetary Fund Annual Report 2019 Financial Statements written by International Monetary Fund and published by International Monetary Fund. This book was released on 2019-10-04 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: The audited consolidated financial statements of the International Monetary Fund as of April 30, 2019 and 2018
Download or read book Benn s Media written by and published by . This book was released on 1993 with total page 1038 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cash Use Across Countries and the Demand for Central Bank Digital Currency written by Mr.Tanai Khiaonarong and published by International Monetary Fund. This book was released on 2019-03-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While access to digital currency will be more convenient than traveling to an ATM, it only makes CBDC like a bank debit card—not better. Demand for digital currency will thus be weak in countries where cash use is already very low, due to a preference for cash substitutes (cards, electronic money, mobile phone payments). Where cash use is very high, demand should be stronger, due to a lack of cash substitutes. As the demand for CBDC is tied to the current level of cash use, we estimate the level and trend in cash use for 11 countries using four different measures. A tentative forecast of cash use is also made. After showing that declining cash use is largely associated with demographic change, we tie the level of cash use to the likely demand for CBDC in different countries. In this process, we suggest that one measure of cash use is more useful than the others. If cash is important for monetary policy, payment instrument competition, or as an alternative payment instrument in the event of operational problems with privately supplied payment methods, the introduction of CBDC may best be introduced before cash substitutes become so ubiquitous that the viability of CBDC could be in doubt.
Download or read book Virtual Currencies and Beyond written by Mr.Dong He and published by International Monetary Fund. This book was released on 2016-01-20 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: New technologies are driving transformational changes in the global financial system. Virtual currencies (VCs) and the underlying distributed ledger systems are among these. VCs offer many potential benefits, but also considerable risks. VCs could raise efficiency and in the long run strengthen financial inclusion. At the same time, VCs could be potential vehicles for money laundering, terrorist financing, tax evasion and fraud. While risks to the conduct of monetary policy seem less likely to arise at this stage given the very small scale of VCs, risks to financial stability may eventually emerge as the new technologies become more widely used. National authorities have begun to address these challenges and will need to calibrate regulation in a manner that appropriately addresses the risks without stifling innovation. As experience is gained, international standards and best practices could be considered to provide guidance on the most appropriate regulatory responses in different fields, thereby promoting harmonization and cooperation across jurisdictions.
Download or read book Central Bank Balances and Reserve Requirements written by Mr.Simon Gray and published by International Monetary Fund. This book was released on 2011-02-01 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most central banks oblige depository institutions to hold minimum reserves against their liabilities, predominantly in the form of balances at the central bank. The role of these reserve requirements has evolved significantly over time. The overlay of changing purposes and practices has the result that it is not always fully clear what the current purpose of reserve requirements is, and this necessarily complicates thinking about how a reserve regime should be structured. This paper describes three main purposes for reserve requirements - prudential, monetary control and liquidity management - and suggests best practice for the structure of a reserves regime. Finally, the paper illustrates current practices using a 2010 IMF survey of 121 central banks.
Download or read book Monetary Policy Implementation Operational Issues for Countries with Evolving Monetary Policy Frameworks written by Nils Mæhle and published by International Monetary Fund. This book was released on 2020-02-07 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses operational issues for countries that want to reform their monetary policy frameworks. It argues that stabilizing short-term interest rates on a day-to-day basis has significant advantages, and thus that short-term interest rates, not reserve money, in most cases should be the daily operating target, including for countries relying on a money targeting policy strategy. The paper discusses how a policy formulation framework based on monetary aggregates can be combined with an operational framework that ensures more stable and predictable short-term rates to enhance policy transmission. It also discusses how to best configure an interest-rate-based operational framework when markets are underdeveloped and liqudity management capacity is weak.
Download or read book Fiscal Adjustment in IMF Supported Programs written by International Monetary Fund. Independent Evaluation Office and published by International Monetary Fund. This book was released on 2003-11-17 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a cross-country sample of 169 IMF-supported programs and detailed studies of 15 programs, this evaluation report examines various aspects of fiscal adjustment in IMF-supported programs. It presents evidence that does not support some critics’ view that IMF-supported programs typically adopt a one-size-fits-all approach to fiscal adjustment, nor the perception that programs always involve austerity by targeting reductions in public spending. The report also proposes a number of recommendations for IMF surveillance and program design in the future.
Download or read book Evaluation of Prolonged Use of IMF Resources written by International Monetary Fund. Independent Evaluation Office and published by International Monetary Fund. This book was released on 2002 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The issue of prolonged use of IMF resources has been the subject of external criticism and internal concern. The various reasons that have caused prolonged use to expand over the last three decades are examined, be they related to IMF lending policies, to specific characteristics of the countries concerned, to shortcomings in program design and implementation, or to broader institutional factors. Given the IEO's mandate, the focus is on the role of the IMF, without suggesting that the IMF is responsible for all problems that contributed to prolonged adjustment difficulties. Clearly, the governments of the countries themselves bear primary responsibility for their policies.
Download or read book A Survey of Research on Retail Central Bank Digital Currency written by Mr.John Kiff and published by International Monetary Fund. This book was released on 2020-06-26 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines key considerations around central bank digital currency (CBDC) for use by the general public, based on a comprehensive review of recent research, central bank experiments, and ongoing discussions among stakeholders. It looks at the reasons why central banks are exploring retail CBDC issuance, policy and design considerations; legal, governance and regulatory perspectives; plus cybersecurity and other risk considerations. This paper makes a contribution to the CBDC literature by suggesting a structured framework to organize discussions on whether or not to issue CBDC, with an operational focus and a project management perspective.
