Download or read book Modernizing the Legal Framework for Surveillance An Integrated Surveillance Decision written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2012-06-26 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes a draft Integrated Surveillance Decision (ISD) for adoption. As part of broader efforts to strengthen Fund surveillance, the Fund is modernizing its legal framework to better support operations. In April 2012, the Fund’s Executive Board discussed Modernizing the Legal Framework for Surveillance—Building Blocks Toward an Integrated Surveillance Decision. That paper highlighted key weaknesses in the current legal framework for surveillance and provided proposals for addressing them. Most Directors agreed that introducing a new surveillance decision covering both bilateral and multilateral surveillance would help address these weaknesses. In particular, they agreed with the general proposed approach to fill the gaps in bilateral surveillance through multilateral surveillance
Download or read book 2011 Triennial Surveillance Review Review of the 2007 Surveillance Decision and the Broader Legal Framework for Surveillance written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2011-08-26 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the 2007 Surveillance Decision and the broader legal framework for surveillance. While the 2007 Surveillance Decision on Bilateral Surveillance over Members’ Policies (thereafter, the 2007 Decision) requires the Fund to review the decision itself, this paper takes a broader view. It recognizes that the 2007 Decision cannot be assessed in isolation from the legal framework it derives from, i.e., the Articles of Agreement, and that a debate on the adequacy of this broader framework is also necessary. The paper therefore discusses the strengths and limitations of the current system as set out in both the Articles of Agreement (primarily, Article IV) and the 2007 Decision and explores options going forward.
Download or read book Selected Decisions and Selected Documents of the International Monetary Fund Thirty Seventh Issue written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2014-12-23 with total page 1088 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Thirty-Seventh Issue of Selected Decisions and Selected Documents of the International Monetary Fund includes decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the International Monetary Fund, as well as selected documents to which frequent reference is made in the current activities of the Fund. In addition, it includes documents relating to the IMF, the United Nations, and other international organizations.
Download or read book Indias Relations With The International Monetary Fund IMF written by V. Srinivas and published by Vij Books India Pvt Ltd. This book was released on 2019-07-01 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: From one of India's senior Civil Servants, a brilliant analysis of the critical moments in India's economic history and the future of multilateralism in the International Monetary Fund that could decide the future of global crisis resolution. V. Srinivas – distinguished Additional Secretary to Government of India, former Advisor to the Executive Director International Monetary Fund and Private Secretary to Finance Minister of India, a widely acclaimed administrator and academician – provides a comprehensive analysis of several big events that stand out in India's relations with the International Monetary Fund based on 17 months of research and interviews. India's Relations with the International Monetary Fund 1991-2016 provides insights into India's role as a Founding Member of the IMF, India's IMF programs of 1966, 1981 and 1991, India's gold purchases from the IMF in 2010, the rise of G20 and India's emergence as the fastest growing major economy in the world. V. Srinivas highlights the role of the IMF as the lender of last resort, the IMF as an institution of asymmetric power in dealing with member countries, the enhanced role of the IMF post-2008 Global Financial Crisis and the Rise of China in the International Monetary System. “India's relations with International Monetary Fund 1991-2016: 25 years in perspective” is the first comprehensive study on the subject that offers deep insights into an Institution that has influenced the global economy in a significant way.
Download or read book The European Union s External Action in Times of Crisis written by Piet Eeckhout and published by Bloomsbury Publishing. This book was released on 2016-12-01 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Lisbon Treaty modified the legal framework of EU external action and these innovations must be applied in a period of deep economic and financial crisis interacting with other more specific crises affecting the EU's external activities. This volume investigates the recent institutional and substantive developments in EU external relations law and practice in this context of multiple crises for the EU. The economic and financial crisis has a major impact on EU external action, but other crises too affect this sensitive area of the EU's activity and the book takes them into account. For instance, there is a crisis in the relationship between EU law and international law after the ECJ judgement in the Kadi case. In addition to exploring these questions, the volume also examines questions of legitimacy in fields such as foreign investment protection and arbitration. Representing the output of a powerful research team composed of leading scholars in the field this comprehensive collection will appeal to both an expert and non-expert readership.
Download or read book Guidance Note for Surveillance Under Article IV Consultations written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-03-20 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note provides country teams with guidance on bilateral and multilateral surveillance in the context of Article IV consultations. It covers the following issues: Focus on stability. Stability is the organizing principle of surveillance. Article IV consultations should focus on the conduct of economic and financial policies pursued by members to promote present and prospective domestic and balance of payments stability, as well as global economic and financial stability. For the latter, Article IV consultations should discuss spillovers from members’ economic and financial policies that may significantly affect global stability, including alternative policy options that would minimize their adverse impact. Operational guidance. The note provides detailed guidance, suggestions and references in areas covered in surveillance including risks and spillovers, fiscal policy, macrofinancial and monetary policy, BOP stability, structural policies and data issues. Communication and Engagement. Effective two-way communication is key to surveillance, including with the authorities (to help staff’s advice get traction), the Executive Board (to support effective peer review), and the public and other stakeholders (to gain support for necessary policy adjustments). Surveillance messages need to be clear, concise, and focused. The Fund needs to be evenhanded, in line with the principle of uniformity of treatment, for surveillance to command the confidence of the membership. Process and formal requirements. A number of procedures, rules, and requirements are summarized in this note.
Download or read book Selected Decisions and Selected Documents of the International Monetary Fund Thirty Eighth Issue written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2016-08-23 with total page 1026 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume documents decisions, interpretations, and resolutions of the Executive Board and Board of Governors of the International Monetary Fund, as well as documents relating to the United Nations and other international organizations.
Download or read book Selected Decisions and Selected Documents of the International Monetary Fund Thirty Ninth Issue written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2017-08-01 with total page 1048 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume documents decisions, interpretations, and resolutions of the Executive Board and Board of Governors of the International Monetary Fund, as well as documents relating to the United Nations and other international organizations.
Download or read book Approaches to Macrofinancial Surveillance in Article IV Reports written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2017-03-28 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fund has made good progress over the past two years in integrating macrofinancial analysis into Article IV surveillance for a wide range of members. Building on past work to enhance financial sector analysis, Fund staff has sought to develop a consistent and forward-looking view on how the financial sector affects each member’s economic outlook with the aim of strengthening staff’s capacity to provide advice on macro-critical questions. The focus has been on developing a fuller understanding of macrofinancial linkages, and applying this analysis to inform policy advice. Staff has sought to articulate the role of the financial sector in the macroeconomic baseline, and to integrate the financial sector into the risk assessment, taking into account both the impact of macro shocks on the financial sector as well as the effect of financial shocks on macroeconomic stability. Strengthening the analytical foundations of this work has helped staff provide advice in all policy areas, including financial sector policies. Staff has tailored macrofinancial analysis to the circumstances of a diverse set of economies. Area departments have taken the lead in selecting 66 economies for enhanced macrofinancial coverage and in identifying topics, drawing on targeted support from functional departments. The choice of coverage has included legacies from the global financial crisis—such as deleveraging and stretched balance sheets in advanced economies and some emerging markets—and more recent challenges such as commodity price shocks, especially in low income countries, and the risks of housing booms. The financial sector’s contribution to growth and inclusion has become an important question in countries across all income groups. Staff sees benefits in mainstreaming this approach across the membership, while continuing to address analytical gaps and adapting to new challenges. The work of the past two years has underscored the criticality of macrofinancial analysis for a diverse range of members, and laid the basis for progressively mainstreaming macrofinancial surveillance across the membership. Building on this progress, staff sees scope for the Fund to deepen its understanding of the macroeconomic effects of financial shocks, to better adapt microprudential and macroprudential policy advice with an assessment of macro-critical risks including systemic risk, and to deepen the analysis of outward spillovers. Staff will also need to continue to adapt the focus of analysis and tools, and seek relevant data, as economic challenges evolve.
Download or read book Monetary Stability as a Common Concern in International Law written by Lucía Satragno and published by BRILL. This book was released on 2022-02-28 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: The open access publication of this book has been published with the support of the Swiss National Science Foundation. In Monetary Stability as a Common Concern in International Law, Lucía Satragno argues that monetary stability is a global public good that must be promoted and protected at all levels of governance. In doing so, the book accomplishes two tasks. On one hand, it provides an up to date analysis of the role of law and institutions in the international monetary field since the collapse of the Bretton Woods system. On the other hand, it applies the methodological approach proposed by the novel doctrine of Common Concern of Humankind to monetary stability as a case study. Accordingly, the book examines not only the status quo of the international monetary system, but also looks at the ‘new and different realism’ that would be envisaged in monetary affairs in the case of a fully-fledged principle of Common Concern.
Download or read book Guidance Note for Article IV Consultations written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2012-10-10 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note provides guidance to staff on the conduct of surveillance in the context of Article IV consultations, a core activity of the Fund. Surveillance involves the continuous monitoring of members‘ economic and financial policies and their impact on their own and global stability. During Article IV consultations, staff holds pointed discussions with country authorities on the economic situation, the authorities‘ policies and how these affect the country‘s stability, the role of potential or actual spillovers where relevant, and desirable policy adjustments. These discussions are then reported to the Fund‘s Executive Board for its consideration. The goal, through thorough analysis, candid discussions, and a peer-review mechanism, is to promote the stability of members‘ economies, as well as the effective operation of the international monetary system, including through maintaining global stability.
Download or read book The Role of the IMF as Trusted Advisor written by Ruben Lamdany and published by International Monetary Fund. This book was released on 2013-04-15 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF carries out its mandate to foster macroeconomic stability and thereby facilitate prosperity by promoting the adoption of sound policies and international cooperation. Ultimately, the means to achieve these goals is to have Fund policy advice translated into concrete action. Key to achieving such traction is the relationship between Fund staff and member country authorities, together with the quality of the advice and members’ confidence in it. That is, the Fund needs to be seen as a trusted advisor. This evaluation examines in what circumstances the Fund is viewed as a trusted advisor to its member countries. It uses evidence gathered since 2005, but emphasizes the period since the onset of the global crisis in 2007–08. Because the concept of trusted advisor is “in the eyes of the beholder,” the evaluation derives the main attributes from country authorities themselves.
Download or read book IMF Engagement on Health Spending Issues in Surveillance and Program Work written by Mauricio Soto and published by International Monetary Fund. This book was released on 2023-12-22 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: IMF country teams have become increasingly engaged on health spending issues in surveillance and program work, and more so since the COVID-19 pandemic. The primary objectives of health spending are to improve health outcomes and provide protection to households against high financial costs of health care. The Fund’s engagement on health spending issues is guided by an assessment of its macro-criticality, with the scope and purpose of engagement varying across countries and depending on whether it occurs in surveillance or program contexts. This technical note discusses how to assess the macro-criticality of health spending and reviews appropriate policy responses. The design and implementation of macro-critical health reforms often require specific sectoral knowledge and experience. Thus, this note emphasizes the importance of collaborating with development partners on health policy issues.
Download or read book Contextualising International Law in Northeast Asia written by Asif H Qureshi and published by Bloomsbury Publishing. This book was released on 2018-09-20 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: Northeast Asia is one of the most important regions of the world both economically and in terms of its historical heritage. The region poses significant challenges for international law whilst international law can unleash cooperative endeavours which can place the region in a formidable location in the new multi-polar world order. This work sets out a contextual regional approach to international law focusing on the relations as between China, South Korea and Japan. In particular the author deliberates on the historical development of international law in the region, the relationship of international law with the Chinese, Korean and Japanese legal systems; historical disputes as between the three States; and the respective practices in the sphere of monetary and trade relations. This work will be of interest to international law scholars, practitioners and policy makers.
Download or read book 2018 Review of Program Design and Conditionality written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2019-05-20 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2018 Review of Program Design and Conditionality is the first comprehensive stocktaking of Fund lending operations since the global financial crisis. The review assesses program performance between September 2011 and end-2017. Programs during this period were defined by the protracted structural challenges faced by members and hampered by the persistently weak global environment.
Download or read book Integrated Policy Framework Principles for the Use of Foreign Exchange Intervention written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2023-12-21 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note guides policy advice on the use of foreign exchange intervention (FXI) as part of the Integrated Policy Framework (IPF) in Fund surveillance. The note provides general principles for the advice in countries with flexible exchange rates and sets out three use cases for FXI that are tied to specific frictions. It explores the use of FXI as part of an overall policy response, allowing the advice to differ with shocks, frictions, and country-specific circumstances.
