2016 Handbook Of Imf Facilities For Low Income Countries

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2016 Handbook of IMF Facilities for Low-Income Countries

International Monetary Fund. Strategy, Policy, & Review Department
2016 Handbook of IMF Facilities for Low Income Countries Book PDF

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : INTERNATIONAL MONETARY FUND
Page : 189 pages
File Size : 50,9 Mb
Release : 2016-02-23
Category : Business & Economics
ISBN : 1498345913

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2016 Handbook of IMF Facilities for Low-Income Countries by International Monetary Fund. Strategy, Policy, & Review Department Pdf

This Handbook provides guidance to staff on the financial and non-financial facilities 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 February 2015 (IMF, 2015) by incorporating modifications resulting from Board papers and related decisions since that time, including the reform of the Fund policy on Poverty Reduction Strategy in Fund engagement with low-income countries, Financing for Development—Enhancing the Financial Safety net for Developing Countries, Proposal for Catastrophe Containment and Relief Trust, the Review of Eligibility to Use the Fund’s Facilities for Concessional Financing, and the 14th General Review of Quotas.1 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 sole legal authority on the matters covered in the Handbook.

Handbook of IMF Facilities for Low-Income Countries

International Monetary Fund
Handbook of IMF Facilities for Low Income Countries Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 168 pages
File Size : 50,8 Mb
Release : 2012-03-21
Category : Business & Economics
ISBN : 9781498340755

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Handbook of IMF Facilities for Low-Income Countries by International Monetary Fund Pdf

The Fund’s concessional facilities are aimed at providing flexible and tailored support to low-income countries (LICs) in their efforts to achieve, maintain, or restore a stable and sustainable macroeconomic position consistent with strong and durable poverty reduction and growth.

2023 Handbook of IMF Facilities for Low-Income Countries

International Monetary Fund. Strategy, Policy, & Review Department
2023 Handbook of IMF Facilities for Low Income Countries Book PDF

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 191 pages
File Size : 42,9 Mb
Release : 2023-04-21
Category : Business & Economics
ISBN : 9798400242427

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2023 Handbook of IMF Facilities for Low-Income Countries by International Monetary Fund. Strategy, Policy, & Review Department Pdf

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.

2014 Handbook of IMF Facilities for Low-Income Countries

International Monetary Fund
2014 Handbook of IMF Facilities for Low Income Countries Book PDF

Author : International Monetary Fund
Publisher : INTERNATIONAL MONETARY FUND
Page : 175 pages
File Size : 51,5 Mb
Release : 2014-08-28
Category : Business & Economics
ISBN : 1498342809

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2014 Handbook of IMF Facilities for Low-Income Countries by International Monetary Fund Pdf

This Handbook, an updated version of a similarly titled document issued in May 2012 (IMF, 2012c), provides guidance to staff on the financial facilities for low-income countries (LICs) that became effective in January 2010 (ECF, SCF, and RCF), and the PSI, including modifications to the guidance resulting from the Review of Facilities for Low-Income Countries (IMF, 2012e and 2013d) and the Review of Eligibility to Use the Fund’s Facilities for Concessional Financing (IMF, 2013c). Designed as a comprehensive reference tool for program work on low-income countries, 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 sole legal authority on the matters covered in the Handbook.

2017 Handbook of IMF Facilities for Low-Income Countries

International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Legal Dept.
2017 Handbook of IMF Facilities for Low Income Countries Book PDF

Author : International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Legal Dept.
Publisher : International Monetary Fund
Page : 190 pages
File Size : 45,8 Mb
Release : 2017-01-12
Category : Business & Economics
ISBN : 9781498346238

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2017 Handbook of IMF Facilities for Low-Income Countries by International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Legal Dept. Pdf

This Handbook provides guidance to staff on the 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 February 2016 (IMF, 2016d) by incorporating modifications resulting from Board papers and related decisions since that time, including Financing for Development—Enhancing the Financial Safety Net for Developing Countries—Further Considerations (IMF, 2016c), Review of Poverty Reduction and Growth Trust – Review of Interest Rate Structure (IMF, 2016b), Eligibility to Use the Fund’s Facilities for Concessional Financing (IMF, 2017a), Large Natural Disasters—Enhancing the Financial Safety Net for Developing Countries (IMF, 2017b) and Adequacy of the Global Financial Safety Net – Proposal for a New Policy Coordination Instrument (IMF, 2017c). 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 sole legal authority on the matters covered in the Handbook

Review of Facilities for Low-Income Countries

International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.
Review of Facilities for Low Income Countries Book PDF

Author : International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 56 pages
File Size : 52,5 Mb
Release : 2012-07-26
Category : Business & Economics
ISBN : 9781498340120

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Review of Facilities for Low-Income Countries by International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept. Pdf

The 2009 reforms have broadly achieved their objective of closing gaps and creating a streamlined architecture of facilities that is better tailored to the diverse needs of LICs. Supported by the financing package to boost the PRGT’s lending capacity for 2009–14 and the accompanying doubling of access, the Fund was able to mount an effective response to LICs’ needs during the global financial crisis.

2018-19 Review of Facilities for Low-Income Countries---Reform Proposals

International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.
2018 19 Review of Facilities for Low Income Countries Reform Proposals Book PDF

Author : International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.
Publisher : International Monetary Fund
Page : 169 pages
File Size : 52,6 Mb
Release : 2019-06-06
Category : Political Science
ISBN : 9781498318716

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2018-19 Review of Facilities for Low-Income Countries---Reform Proposals by International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept. Pdf

2018-19 Review of Facilities for Low-Income Countries---Reform Proposals: Review Of The Financing Of The Fund’s Concessional Assistance And Debt Relief To Low-Income Member Countries

The Economic Impact of IMF-Supported Programs in Low-Income Countries

Yasemin Bal-Gunduz,Mr.Christian Ebeke,Ms.Burcu Hacibedel,Ms.Linda Kaltani,Ms.Vera V Kehayova,Mr.Chris Lane,Mr.Christian Mumssen,MissNkunde Mwase,Mr.Joseph Thornton
The Economic Impact of IMF Supported Programs in Low Income Countries Book PDF

Author : Yasemin Bal-Gunduz,Mr.Christian Ebeke,Ms.Burcu Hacibedel,Ms.Linda Kaltani,Ms.Vera V Kehayova,Mr.Chris Lane,Mr.Christian Mumssen,MissNkunde Mwase,Mr.Joseph Thornton
Publisher : International Monetary Fund
Page : 60 pages
File Size : 43,7 Mb
Release : 2013-10-04
Category : Business & Economics
ISBN : 9781484394717

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The Economic Impact of IMF-Supported Programs in Low-Income Countries by Yasemin Bal-Gunduz,Mr.Christian Ebeke,Ms.Burcu Hacibedel,Ms.Linda Kaltani,Ms.Vera V Kehayova,Mr.Chris Lane,Mr.Christian Mumssen,MissNkunde Mwase,Mr.Joseph Thornton Pdf

This paper aims to assess the economic impact of the IMF’s support through its facilities for low-income countries. It relies on two complementary econometric analyses: the first investigates the longer-term impact of IMF engagement—primarily through successive medium-term programs under the Extended Credit Facility and its predecessors (and more recently the Policy Support Instrument)—on economic growth and a range of other indicators and socioeconomic outcomes; the second focuses on the role of IMF shock-related financing—through augmentations of Extended Credit Facility arrangements and short-term and emergency financing instruments—on short-term macroeconomic performance.

IMF-Supported Programs in Low Income Countries

Mr.Christian Mumssen,Yasemin Bal-Gunduz,Mr.Christian Ebeke,Ms.Linda Kaltani
IMF Supported Programs in Low Income Countries Book PDF

Author : Mr.Christian Mumssen,Yasemin Bal-Gunduz,Mr.Christian Ebeke,Ms.Linda Kaltani
Publisher : International Monetary Fund
Page : 64 pages
File Size : 48,7 Mb
Release : 2014-01-15
Category : Business & Economics
ISBN : 9781484359433

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IMF-Supported Programs in Low Income Countries by Mr.Christian Mumssen,Yasemin Bal-Gunduz,Mr.Christian Ebeke,Ms.Linda Kaltani Pdf

This paper studies the short and longer-term impact of IMF engagement in Low-Income Countries (LICs) over nearly three decades. In contrast to earlier studies, we focus on a sample composed exclusively of LICs and disentangle the different effects of IMF longer-term engagement and short-term financing using a propensity score matching approach to control for selection bias. Our results indicate that longer-term IMF support (at least five years of program engagement per decade) helped LICs sustain economic growth and boost resilience by building fiscal buffers. Interestingly, the size of IMF financing has no significant impact on economic growth, possibly pointing to the prominent role of IMF policy advice and institutional capacity building in the context of longer-term engagement. We also present evidence that the short-term IMF engagement through augmentations of existing programs or short-term and emergency facilities is positively associated with a wide range of macroeconomic outcomes. Notably, the IMF financial support has the greatest impact on short-term growth when LICs are faced with substantial macroeconomic imbalances or exogenous shocks.

The IMLI Treatise On Global Ocean Governance

Malgosia Fitzmaurice,Alexandros Ntovas
The IMLI Treatise On Global Ocean Governance Book PDF

Author : Malgosia Fitzmaurice,Alexandros Ntovas
Publisher : Oxford University Press
Page : 435 pages
File Size : 51,6 Mb
Release : 2018-07-12
Category : Law
ISBN : 9780192557261

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The IMLI Treatise On Global Ocean Governance by Malgosia Fitzmaurice,Alexandros Ntovas Pdf

The 1982 United Nations Convention on the Law of the Sea (UNCLOS) remains the cornerstone of global ocean governance. However, it lacks effective provisions or mechanisms to ensure that all ocean space and related problems are dealt with holistically. With seemingly no opportunity for revision due to the Conventions burdensome amendment provisions, complementary mechanisms dealing with such aspects of global ocean governance including maritime transport, fisheries, and marine environmental sustainability, have been developed under the aegis of the United Nations and other relevant international organizations. This approach is inherently fragmented and unable to achieve sustainable global ocean governance. In light of the Sustainable Development Goals (SDGs), particularly Goal 14, the IMLI Treatise proposes a new paradigm on the basis of integrated and cross-sectoral approach in order to realise a more effective and sustainable governance regime for the oceans. This volume focuses on the role of the UN Specialized Agencies towards the development of effective and sustainable ocean governance by looking at the more elaborate mechanisms they developed in order to achieve the desired objectives laid down in UNCLOS. From FAO to UNODC, the volume examines how they ensure sustainable development and how much coordination exists among them.

Somalia

International Monetary Fund. Middle East and Central Asia Dept.
Somalia Book PDF

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 111 pages
File Size : 46,9 Mb
Release : 2019-07-31
Category : Business & Economics
ISBN : 9781513509488

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Somalia by International Monetary Fund. Middle East and Central Asia Dept. Pdf

This paper discusses Somalia’s 2019 Article IV Consultation, Second Review Under the Staff-Monitored Program (SMP), and Request for New SMP. Program implementation of SMP III has been strong, with all but one structural benchmark and all indicative targets met. The authorities have requested a new 15-month SMP to cement reforms and support reaching the Heavily Indebted Poor Country decision point as soon as the necessary conditions are met. The new national development plan will outline the authorities’ priorities with respect to poverty reduction and inclusive growth. The consultation focused on policies to support higher and more inclusive growth, strengthen the medium-term fiscal framework, deepen the financial sector, increase economic resilience, and improve governance and the business environment. Discussions highlighted the need to implement a durable fiscal federal framework, establish a robust framework for effective natural resource management, and develop the medium-term fiscal framework. However, security and political risks, and climate shocks remain the main sources of risk.

Social Safeguards and Program Design in PRGT and PSI-Supported Programs

International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Fiscal Affairs Dept.
Social Safeguards and Program Design in PRGT and PSI Supported Programs Book PDF

Author : International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 58 pages
File Size : 49,5 Mb
Release : 2017-06-06
Category : Business & Economics
ISBN : 9781498346757

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Social Safeguards and Program Design in PRGT and PSI-Supported Programs by International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Fiscal Affairs Dept. Pdf

The Fund provides considerable support to low-income countries (LICs). This includes concessional financing from the Poverty Reduction and Growth Trust (PRGT), which currently carries an interest rate of zero percent. Since 2010, over half of Fund-supported arrangements have involved a PRGT facility. Support for poverty reduction is a core objective of arrangements supported by these facilities. This paper examines how PRGT-supported programs safeguard spending on poor and vulnerable groups within the broader framework of promoting inclusive growth. In some cases, national poverty reduction programs seek to shift expenditures toward social programs in the context of generally higher spending supported by domestic revenue mobilization, grants, or debt financing. In other cases, the goal is to safeguard poor and vulnerable groups from fiscal adjustment and reform measures that could adversely affect them by adopting countervailing policy measures to strengthen social safety nets. In discussing social safeguards, this paper focuses on how and if these objectives are reflected satisfactorily in the design of PRGT and PSI-supported programs. The effectiveness of social spending in improving social outcomes, including by durably reducing poverty, is beyond the scope of the paper.

International Monetary Fund Handbook

Parmeshwar Ramlogan,Bernhard Fritz-Krockow
International Monetary Fund Handbook Book PDF

Author : Parmeshwar Ramlogan,Bernhard Fritz-Krockow
Publisher : International Monetary Fund
Page : 116 pages
File Size : 53,5 Mb
Release : 2007
Category : Business & Economics
ISBN : 9781451932157

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International Monetary Fund Handbook by Parmeshwar Ramlogan,Bernhard Fritz-Krockow Pdf

This paper describes the functions, policies, and operations of the IMF. The IMF is an independent international organization, and is a cooperative of 185 member countries, whose objective is to promote world economic stability and growth. The member countries are the shareholders of the cooperative, providing the capital of the IMF through quota subscriptions. In return, the IMF provides its members with macroeconomic policy advice, financing in times of balance-of-payments need, and technical assistance and training to improve national economic management.

IMF and Fragile States

International Monetary Fund. Independent Evaluation Office
IMF and Fragile States Book PDF

Author : International Monetary Fund. Independent Evaluation Office
Publisher : International Monetary Fund
Page : 84 pages
File Size : 46,7 Mb
Release : 2018-04-13
Category : Business & Economics
ISBN : 9781513539683

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IMF and Fragile States by International Monetary Fund. Independent Evaluation Office Pdf

This evaluation assesses the IMF’s work on countries in fragile and conflict-affected situations (FCS), addressing both (i) its engagement through surveillance, lending, and capacity development and (ii) the frameworks and procedures for its engagement. It finds that the IMF has provided unique and essential services to FCS to restore macroeconomic stability and rebuild core macroeconomic institutions as prerequisites for state building, playing a role in which no other institution can take its place. In this critical role, it is broadly acknowledged to have had a high impact. While the IMF has provided relatively little direct financing, it has catalyzed donor support through its assessment of a country’s economic policies and prospects. Notwithstanding this positive assessment, the IMF’s overall approach to its FCS work seems to have been conflicted. Not only has it failed consistently to make hard choices necessary to achieve full impact from its engagement in countries where success requires patient and dedicated attention over the long haul, but past efforts have not been sufficiently bold or adequately sustained, and the staff has tended to revert to treating fragile states using IMF-wide norms, rather than as countries needing special attention. The report proposes six recommendations to improve the effectiveness of the IMF’s FCS work: (i) to issue a statement of high-level commitment to FCS work for IMFC endorsement; (ii) to create an effective institutional mechanism with the mandate and authority to coordinate and champion such work; (iii) to develop comprehensive strategies for individual FCS; (iv) to adapt its lending toolkit to deliver more sustained financial support to FCS; (v) to take practical steps to increase the impact of its capacity development support to FCS; and (vi) to take steps to incentivize high-quality and experienced staff to work on individual FCS and find pragmatic ways of increasing field presence in high risk locations.

The Economic Impact of IMF-Supported Programs in Low-Income Countries

Yasemin Bal-Gunduz,Christian Ebeke,Burcu Hacibedel,Linda Kaltani,Vera Kehayova,Chris Lane,Christian Mumssen,Nkunde Mwase,Joseph Thornton
The Economic Impact of IMF Supported Programs in Low Income Countries Book PDF

Author : Yasemin Bal-Gunduz,Christian Ebeke,Burcu Hacibedel,Linda Kaltani,Vera Kehayova,Chris Lane,Christian Mumssen,Nkunde Mwase,Joseph Thornton
Publisher : Unknown
Page : 0 pages
File Size : 52,9 Mb
Release : 2013
Category : Business & Economics
ISBN : 1484386515

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The Economic Impact of IMF-Supported Programs in Low-Income Countries by Yasemin Bal-Gunduz,Christian Ebeke,Burcu Hacibedel,Linda Kaltani,Vera Kehayova,Chris Lane,Christian Mumssen,Nkunde Mwase,Joseph Thornton Pdf

This paper aims to assess the economic impact of the IMF’s support through its facilities for low-income countries. It relies on two complementary econometric analyses: the first investigates the longer-term impact of IMF engagement—primarily through successive medium-term programs under the Extended Credit Facility and its predecessors (and more recently the Policy Support Instrument)—on economic growth and a range of other indicators and socioeconomic outcomes; the second focuses on the role of IMF shock-related financing—through augmentations of Extended Credit Facility arrangements and short-term and emergency financing instruments—on short-term macroeconomic performance.