Download or read book Safeguards Assessments 2022 Review of Experience written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2022-12-16 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews experience with the safeguards assessment policy since the last review in 2015. The policy is subject to periodic reviews by the Executive Board. The policy’s main objective is to mitigate risks of misuse of Fund resources and misreporting of monetary data under Fund arrangements. Consistent with past reviews, an external panel of experts provided an independent perspective on the implementation of the policy.
Download or read book Safeguards Assessments Policy External Expert Panel s Advisory Report written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2022-12-16 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report by the external expert panel (“the panel”) examines the effectiveness and appropriateness of the safeguards assessments policy in the five years since its last review in 2015. In addition to expressing an opinion on the effectiveness and appropriateness of the safeguards assessment policy, the panel also makes recommendations to the Executive Board for its consideration to improve and optimize the benefits to be garnered from the safeguards assessment policy. The panel’s opinion is based on (i) consultations with key stakeholders, including central bank authorities, IMF Executive Directors’ offices, and Fund staff; (ii) examination of safeguards assessment and other Fund-specific documents; and (iii) study of international reference materials.
Download or read book 2023 Handbook of IMF Facilities for Low Income Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2023-04-21 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook provides guidance to staff on the IMF’s concessional financial facilities and non-financial instruments for low-income countries (LICs), defined here as all countries eligible to obtain concessional financing from the Fund. It updates the previous version of the Handbook that was published in December 2017 (IMF, 2017e) by incorporating modifications resulting from the 2018–19 Review of Facilities for Low-Income Countries and Review of the Financing of the Fund’s Concessional Assistance and Debt Relief to Low-Income Member Countries (IMF, 2019a, b), approved by the Board in May 2019; the reforms introduced in 2021 on the basis of the Board paper Fund Concessional Financial Support for Low-Income Countries—Responding to the Pandemic (IMF, 2021a), approved in July 2021; and a number of other recent Board papers. Designed as a comprehensive reference tool for program work on LICs, the Handbook also refers, in summary form, to a range of relevant policies that apply more generally to IMF members. As with all guidance notes, the relevant IMF Executive Board decisions including the terms of the various LIC Trust Instruments that have been adopted by the Board, remain the primary legal authority on the matters covered in the Handbook.
Download or read book Selected Decisions and Selected Documents of the International Monetary Fund written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2024-03-12 with total page 1064 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is the Forty-Third Issue of Selected Decisions and Selected Documents of the International Monetary Fund. It 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 certain documents relating to the Fund, the United Nations, and other international organizations.
Download or read book Operational Guidance Note On Program Design and Conditionality written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2024-01-30 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note aims to provide guidance on the key principles and considerations underlying the design of Fund-supported programs. The note expands on the previous operational guidance notes on conditionality published over 2003-2014, incorporating lessons from the 2018-19 Review of Conditionality, and other recent key policy developments including the recommendation of the Management’s Implementation Plan in response to Independent Evaluation Office (IEO)’s report on growth and adjustment in IMF-supported programs. The note in particular highlights operational advice to (i) improve the realism of macroeconomic forecast in programs and fostering a more systematic analysis of contingency plans and risks; (ii) improve the focus, depth, implementation, and tailoring of structural conditions (SCs), with due consideration of growth effects; and (iii) help strengthen the ownership of country authorities. Designed as a comprehensive reference and primer on program design and conditionality in an accessible and transparent manner, the note refers in summary to a broad range of economic and policy considerations over the lifecycle of Fund-supported programs. As with all guidance notes, the relevant IMF Executive Board Decisions remain the primary legal authority on matters covered in this note.
Download or read book Law Reforms around the World written by Asif H Qureshi and published by Taylor & Francis. This book was released on 2023-12-01 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: Encapsulating Law Reform requires the creation of a discreet space occupied with normative self-generation, self-correction, and self-adaptation in the very anatomy of law and the architecture of legal systems. This ‘living dynamic trait’ should be a hallmark of the genetic material in the modern-day institution of law. This edited volume sheds light on Law Reform in its domestic, comparative, regional, and international settings. It examines the process of Law Reform and explains the need for a constant appraisal to keep its wheels optimally operational. The book takes a holistic approach to understanding Law Reform and calls for such an approach in the very process of Law Reform. It begins by looking at Law Reform processes from a theoretical perspective. Thereafter, it sheds light on domestic Law Reform processes in civil and common law legal systems. This is followed by a focus on Law Reform at the international level with a critical appraisal of the International Law Commission (ILC), drawing on its performance in international economic and environmental law. Included in this consideration is also the role played in Law Reform by the IMF, World Trade Organization/World Intellectual Property Organization, Multilateral Development Banks, and the African Union Commission on International Law. This volume should appeal to students, serious scholars, policy makers, judges, and the community of national and international lawyers interested in bringing effective reform in the national and international arenas.
Download or read book Policy Coordination Instrument Updated Operational Guidance Note written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2024-04-25 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note provides updated general guidance on the use of the Policy Coordination Instrument (PCI). The PCI is a non-financing instrument designed for countries that, at the time of the PCI request, are seeking to unlock financing from sources other than the Fund and/or to demonstrate a commitment to a reform agenda. Since its establishment in 2017 as part of the Fund’s work on the Global Financial Safety Net, the PCI has been used by several members. These experiences helped establish and refine best practices, which are reflected in this updated operational guidance note together with changes to the PCI policy approved by the Executive Board on October 4, 2023. The note covers operational issues in a broad range of areas such as purpose, objectives, eligibility, modalities, applicability of UFR-related and other relevant policies, design of a PCI-supported program, conditionality framework, review schedule , and a comparison with other lending instruments. The note is an aid to the implementation of the PCI policy and its underlying principles. If there is any instance in which a provision of the guidance note or its implementation conflicts with the policy approved by the Board, the PCI policy shall prevail.
Download or read book FY2024 FY2026 Medium Term Budget written by International Monetary Fund. Office of Budget and Planning and published by International Monetary Fund. This book was released on 2023-06-02 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: FY2024-FY2026 Medium-Term Budget
Download or read book External Audit Arrangements at Central Banks written by Mr.Atilla Arda and published by International Monetary Fund. This book was released on 2018-09-11 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper takes stock of external audit arrangements at central banks. Its focus is on the annual audit of central bank financial statements, as well as legal and institutional measures that support audit quality and independence. The paper outlines good practices in these areas and provides a summary of actual practices observed based on a review of audited financial statements and central bank legislation. While the audit frameworks for central banks differ depending on their legal and institutional circumstances, central banks’ external audits increasingly follow international standards. Most of them are audited by auditors with international affiliations and embrace modern governance structures that provide for audit oversight. However, the paper also notes that a sizeable number of central banks do not publish the audit results in a timely manner, which leaves room for improvement in transparency practices.
Download or read book Selected Decisions and Selected Documents of the International Monetary Fund 42nd Issue written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2022-08-10 with total page 962 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 Effectiveness of Internal Audit and Oversight at Central Banks Safeguards Findings Trends and Observations written by Elie Chamoun and published by International Monetary Fund. This book was released on 2018-05-31 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Experience under the safeguards policy has shown that central banks continued to strengthen their safeguards frameworks, but that vulnerabilities prevailed in the areas of internal audit and oversight by the audit committee (AC). This paper takes steps to help unravel why this was the case, based on analysis of safeguards findings in these areas during the period April 2010 to December 2017 (covering 111 assessments at 64 central banks). Based on this analysis, it presents the key attributes that determine the effectiveness of internal audit and the AC. It also argues that, an effective internal audit function, coupled with strong oversight by a high-performing AC are key enablers of good governance.
Download or read book Nepal written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2024-07-15 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Subdued economic activity has helped strengthen the external position and ease inflation. Growth is expected to rebound to 4.9 percent in FY2024/25, supported by further expansion in hydropower generation and a higher execution rate of public capital expenditure. Inflation is expected to remain within the authorities’ target ceiling of 5.5 percent. Non-performing loans have risen, bank profitability has weakened, and the financial health of savings and credit cooperatives (SACCOs) has deteriorated.
Download or read book Government Auditing Standards 2018 Revision written by United States Government Accountability Office and published by Lulu.com. This book was released on 2019-03-24 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Audits provide essential accountability and transparency over government programs. Given the current challenges facing governments and their programs, the oversight provided through auditing is more critical than ever. Government auditing provides the objective analysis and information needed to make the decisions necessary to help create a better future. The professional standards presented in this 2018 revision of Government Auditing Standards (known as the Yellow Book) provide a framework for performing high-quality audit work with competence, integrity, objectivity, and independence to provide accountability and to help improve government operations and services. These standards, commonly referred to as generally accepted government auditing standards (GAGAS), provide the foundation for government auditors to lead by example in the areas of independence, transparency, accountability, and quality through the audit process. This revision contains major changes from, and supersedes, the 2011 revision.
Download or read book Good Governance in Sub Saharan Africa written by Ms. Monique Newiak and published by International Monetary Fund. This book was released on 2022-03-18 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Governance and corruption issues have taken the center stage in international discussions, especially after the adoption by the IMF in 2018 of a new framework for engagement on governance and corruption. Sound institutions that guarantee integrity in the management of public affairs are critical on the path toward higher and more inclusive growth. Corruption undermines the quality of institutions, weakens the effectiveness of government programs, and compromises social trust in government policies. Indeed, countries around the world that improved their governance systems are reaping a “governance dividend,” and governance-enhancing reformist countries in sub-Saharan Africa include Botswana, Rwanda, and Seychelles. In addition, Liberia, Sierra Leone, and Angola demonstrate that important reforms are possible, including in fragile environments. The importance of good governance has acquired even more importance as countries try to introduce policies to fight the ongoing COVID-19 pandemic. Special attention to governance in an emergency context, including situations associated with conflict, other health crises and natural disasters, is therefore essential. Innovation and new technologies are critical instruments that policymakers can use in their efforts to improve governance and transparency.
Download or read book The Role of Board Oversight in Central Bank Governance Key Legal Design Issues written by Wouter Bossu and published by International Monetary Fund. This book was released on 2019-12-27 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key legal issues in the design of Board Oversight in central banks. Central banks are complex and sophisticated organizations that are challenging to manage. While most economic literature focuses on decision-making in the context of monetary policy formulation, this paper focuses on the Board oversight of central banks—a central feature of sound governance. This form of oversight is the decision-making responsibility through which an internal body of the central bank—the Oversight Board—ensures that the central bank is well-managed. First, the paper will contextualize the role of Board oversight into the broader legal structure for central bank governance by considering this form of oversight as one of the core decision-making responsibilities of central banks. Secondly, the paper will focus on a number of important legal design issues for Board Oversight, by contrasting the current practices of the IMF membership’s 174 central banks with staff’s advisory practice developed over the past 50 years.
Download or read book Risk Management Maturity Assessment at Central Banks written by Elie Chamoun and published by International Monetary Fund. This book was released on 2019-12-27 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Effective risk management at central banks is best enabled by a sound framework embedded throughout the organization that supports the design and execution of risk management activities. To evaluate the risk management practices at a central bank, the Safeguards Assessments Division of the IMF’s Finance Department developed a tool that facilitates stocktaking of elements that are present and categorizes the function based on its maturity. Tailored recommendations are then provided to the central bank which provide a roadmap to advance the risk management function.
Download or read book International Monetary Fund Annual Report 2023 written by International Monetary Fund. Secretary's Department and published by International Monetary Fund. This book was released on 2023-09-28 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2023 IMF Annual Report highlights the IMF’s work to support its members to address successive shocks, including Russia’s war on Ukraine, inflation, debt vulnerabilities, inequality food insecurity, geoeconomic fragmentation, climate change, and digitalization. In FY 2023, the Fund continued to support its members in our three core areas: 1) Economic surveillance: 126 country health checks completed.2) Lending: $74 billion to 36 countries, including about $11 billion to 21 low-income countries, for a total of $294 billion to 96 countries since the start of the pandemic. 3) Capacity development: $337 million for hands-on technical advice, policy-oriented training, and peer learning. The report is also available in Arabic, Chinese, French, German, Japanese, Portuguese, Russian, and Spanish. Note: The 2023 IMF Annual Report covers the activities of the Executive Board and IMF management and staff during the financial year May 1, 2022, through April 30, 2023, and in some cases more recently. Background: The Annual Report website includes the IMF’s financial statements for FY 2023 and other background documentation. The Annual Report and the financial statements are also available online at www.imfbookstore.org or www.elibrary.IMF.org
