Background Papers On The Imf And The Crises In Greece Ireland And Portugal

Background Papers On The Imf And The Crises In Greece Ireland And Portugal Book in PDF, ePub and Kindle version is available to download in english. Read online anytime anywhere directly from your device. Click on the download button below to get a free pdf file of Background Papers On The Imf And The Crises In Greece Ireland And Portugal book. This book definitely worth reading, it is an incredibly well-written.

Background Papers on The IMF and the Crises in Greece, Ireland, and Portugal

Moisés J. Schwartz,Shinji Takagi
Background Papers on The IMF and the Crises in Greece Ireland and Portugal Book PDF

Author : Moisés J. Schwartz,Shinji Takagi
Publisher : International Monetary Fund
Page : 474 pages
File Size : 49,5 Mb
Release : 2017-06-30
Category : Business & Economics
ISBN : 9781484306666

Get Book

Background Papers on The IMF and the Crises in Greece, Ireland, and Portugal by Moisés J. Schwartz,Shinji Takagi Pdf

This volume book brings together nine background papers prepared for an evaluation by the IMF Independent Evaluation Office of “the IMF and the crises in Greece, Ireland, and Portugal.” It presents an authoritative work on the evolving relationship between the IMF and the euro area, a common currency area founded in 1999 consisting of advanced, highly integrated economies in Europe. The euro area, or any common currency area for that matter, has posed challenges to the IMF’s operational activities as its Articles of Agreement contain no provision for joint membership. The challenges became intense when a series of crises erupted in Greece, Ireland, and Portugal from 2009 to 2011, and the Fund was called upon to help intervene by offering its financing and crisis management expertise. The IMF found itself in uncharted territory where there was no precedent or established procedure. The chapters, many of which are prepared by prominent academics and former senior IMF officials who are thoroughly familiar with internal procedures, discuss various aspects of the IMF’s engagement with the euro area, including precrisis surveillance, how key decisions were made, how the IMF collaborated with European institutions, and how it designed and implemented its lending programs with the three crisis countries. The book gives prominence to governance-related issues, given the large voting share (of more than 20 percent) within the IMF of euro area members and the subsequent public perception that the IMF treated the euro area more favorably than it does developing and emerging market members. The approaches are both cross-cutting and country-based. Some chapters deal with issues related to the euro area as a whole, while others focus on how the Fund engaged with individual euro area countries. The book contains a statement on the IEO evaluation by the IMF Managing Director and a Summing Up of the Executive Board discussion held in July 2016.

The IMF and the Crises in Greece, Ireland, and Portugal

International Monetary Fund. Independent Evaluation Office,International Monetary Fund. External Relations Dept.
The IMF and the Crises in Greece Ireland and Portugal Book PDF

Author : International Monetary Fund. Independent Evaluation Office,International Monetary Fund. External Relations Dept.
Publisher : International Monetary Fund
Page : 72 pages
File Size : 47,6 Mb
Release : 2016-09-23
Category : Business & Economics
ISBN : 9781475578812

Get Book

The IMF and the Crises in Greece, Ireland, and Portugal by International Monetary Fund. Independent Evaluation Office,International Monetary Fund. External Relations Dept. Pdf

This volume book brings together nine background papers prepared for an evaluation by the IMF Independent Evaluation Office of “the IMF and the crises in Greece, Ireland, and Portugal.” It presents an authoritative work on the evolving relationship between the IMF and the euro area, a common currency area founded in 1999 consisting of advanced, highly integrated economies in Europe. The euro area, or any common currency area for that matter, has posed challenges to the IMF’s operational activities as its Articles of Agreement contain no provision for joint membership. The challenges became intense when a series of crises erupted in Greece, Ireland, and Portugal from 2009 to 2011, and the Fund was called upon to help intervene by offering its financing and crisis management expertise. The IMF found itself in uncharted territory where there was no precedent or established procedure. The chapters, many of which are prepared by prominent academics and former senior IMF officials who are thoroughly familiar with internal procedures, discuss various aspects of the IMF’s engagement with the euro area, including precrisis surveillance, how key decisions were made, how the IMF collaborated with European institutions, and how it designed and implemented its lending programs with the three crisis countries. The book gives prominence to governance-related issues, given the large voting share (of more than 20 percent) within the IMF of euro area members and the subsequent public perception that the IMF treated the euro area more favorably than it does developing and emerging market members. The approaches are both cross-cutting and country-based. Some chapters deal with issues related to the euro area as a whole, while others focus on how the Fund engaged with individual euro area countries. The book contains a statement on the IEO evaluation by the IMF Managing Director and a Summing Up of the Executive Board discussion held in July 2016.

Progress Report to the International Monetary and Financial Committee on the Activities of the Independent Evaluation Office of the IMF

International Monetary Fund
Progress Report to the International Monetary and Financial Committee on the Activities of the Independent Evaluation Office of the IMF Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 3 pages
File Size : 46,9 Mb
Release : 2016-04-10
Category : Business & Economics
ISBN : 9781498345217

Get Book

Progress Report to the International Monetary and Financial Committee on the Activities of the Independent Evaluation Office of the IMF by International Monetary Fund Pdf

This report summarizes the outcome of the IEO’s evaluation of The IMF and the Crises in Greece, Ireland, and Portugal, discussed by the Executive Board on July 19, 2016, and reports on recent follow-up and ongoing IEO work.

Background Papers on The IMF and the Crises in Greece, Ireland, and Portugal

Moisés J. Schwartz,Shinji Takagi
Background Papers on The IMF and the Crises in Greece Ireland and Portugal Book PDF

Author : Moisés J. Schwartz,Shinji Takagi
Publisher : International Monetary Fund
Page : 474 pages
File Size : 45,6 Mb
Release : 2017-06-30
Category : Business & Economics
ISBN : 9781475562538

Get Book

Background Papers on The IMF and the Crises in Greece, Ireland, and Portugal by Moisés J. Schwartz,Shinji Takagi Pdf

This volume book brings together nine background papers prepared for an evaluation by the IMF Independent Evaluation Office of “the IMF and the crises in Greece, Ireland, and Portugal.” It presents an authoritative work on the evolving relationship between the IMF and the euro area, a common currency area founded in 1999 consisting of advanced, highly integrated economies in Europe. The euro area, or any common currency area for that matter, has posed challenges to the IMF’s operational activities as its Articles of Agreement contain no provision for joint membership. The challenges became intense when a series of crises erupted in Greece, Ireland, and Portugal from 2009 to 2011, and the Fund was called upon to help intervene by offering its financing and crisis management expertise. The IMF found itself in uncharted territory where there was no precedent or established procedure. The chapters, many of which are prepared by prominent academics and former senior IMF officials who are thoroughly familiar with internal procedures, discuss various aspects of the IMF’s engagement with the euro area, including precrisis surveillance, how key decisions were made, how the IMF collaborated with European institutions, and how it designed and implemented its lending programs with the three crisis countries. The book gives prominence to governance-related issues, given the large voting share (of more than 20 percent) within the IMF of euro area members and the subsequent public perception that the IMF treated the euro area more favorably than it does developing and emerging market members. The approaches are both cross-cutting and country-based. Some chapters deal with issues related to the euro area as a whole, while others focus on how the Fund engaged with individual euro area countries. The book contains a statement on the IEO evaluation by the IMF Managing Director and a Summing Up of the Executive Board discussion held in July 2016.

Implementation Plan in Response to the Executive Board-Endorsed Recommendations for the IEO Evaluation Report—The IMF and the Crises in Greece, Ireland, and Portugal

International Monetary Fund. Strategy, Policy, & Review Department
Implementation Plan in Response to the Executive Board Endorsed Recommendations for the IEO Evaluation Report The IMF and the Crises in Greece Ireland and Portugal Book PDF

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : INTERNATIONAL MONETARY FUND
Page : 12 pages
File Size : 51,6 Mb
Release : 2017-03-16
Category : Business & Economics
ISBN : 1498347053

Get Book

Implementation Plan in Response to the Executive Board-Endorsed Recommendations for the IEO Evaluation Report—The IMF and the Crises in Greece, Ireland, and Portugal by International Monetary Fund. Strategy, Policy, & Review Department Pdf

This paper sets out Management’s response to the Independent Evaluation Office’s (IEO) report The IMF and the Crises in Greece, Ireland, and Portugal as part of the Management and staff follow-up to an IEO evaluation. The implementation plan proposes specific actions to address the recommendations endorsed by the Executive Board in its July 19, 2016 discussion. The implementation plan notes the Board’s endorsement of the principles that the IMF’s technical analysis should remain independent, that existing policies should be followed and should not be changed without careful deliberation, and that the Executive Board and Management should reaffirm their commitment to accountability and transparency, as well as the role of independent evaluation in fostering good governance. As to the IEO’s specific recommendations supported by the Board, the implementation plan proposes actions to address the need for the Fund to clarify how guidelines on program design apply to currency union members, the need for the Fund to establish a policy on cooperation with regional financing arrangements, and the need to further strengthen Fund cooperation with the IEO, including on modalities of interactions between the IEO and Fund staff and the IEO’s access to information. The implementation of some of the proposed actions is already underway and some actions have been included in the Fall 2016 Work Program. The paper also explains how implementation will be monitored by the Executive Board.

IEO Evaluation Report

International Monetary Fund. Independent Evaluation Office
IEO Evaluation Report Book PDF

Author : International Monetary Fund. Independent Evaluation Office
Publisher : International Monetary Fund
Page : 20 pages
File Size : 47,6 Mb
Release : 2017-10-05
Category : Business & Economics
ISBN : 9781484313800

Get Book

IEO Evaluation Report by International Monetary Fund. Independent Evaluation Office Pdf

This paper analyzes that the IMF has moved beyond its traditional fiscal-centric approach to recognize that social protection can also be macro-critical for broader reasons including social and political stability concerns. Evaluating the IMF’s involvement in social protection is complicated by the fact that there is no standard definition of social protection or of broader/overlapping terms such as social spending and social safeguards in (or outside) the IMF. In this evaluation, social protection is understood to include policies that provide benefits to vulnerable individuals or households. This evaluation found widespread IMF involvement in social protection across countries although the extent of engagement varied. In some cases, engagement was relatively deep, spanning different activities (bilateral surveillance, technical assistance, and/or programs) and involving detailed analysis of distributional impacts, discussion of policy options, active advocacy of social protection, and integration of social protection measures in program design and/or conditionality. This cross-country variation to some degree reflected an appropriate response to country-specific factors, in particular an assessment of whether social protection policy was macrocritical, and the availability of expertise from development partners or in the country itself.

Independent Evaluation Office Annual Report 2017

International Monetary Fund. Independent Evaluation Office
Independent Evaluation Office Annual Report 2017 Book PDF

Author : International Monetary Fund. Independent Evaluation Office
Publisher : International Monetary Fund
Page : 16 pages
File Size : 52,5 Mb
Release : 2017-10-05
Category : Business & Economics
ISBN : 9781484317600

Get Book

Independent Evaluation Office Annual Report 2017 by International Monetary Fund. Independent Evaluation Office Pdf

This paper discusses that the Independent Evaluation Office (IEO) has also launched three new evaluations—which will analyze the IMF’s role on fragile states, its financial surveillance activities, and its advice on unconventional monetary policies—and two evaluation updates—which will look into the IMF’s exchange rate policy advice and structural conditionality. The evaluation found that, for the most part, the IMF’s euro area surveillance identified the right issues during the pre-crisis period but did not foresee the magnitude of the risks that would later become paramount. The IMF’s surveillance of the financial regulatory architecture was generally of high quality, but staff, along with most other experts, missed the buildup of banking system risks in some countries. The report found several issues with the way decision making was managed by the IMF. In May 2010, the IMF Executive Board approved a decision to provide exceptional access financing to Greece without seeking preemptive debt restructuring, even though its sovereign debt was not deemed sustainable with a high probability.

IMF Publications Catalog, Fall/Winter 2017

International Monetary Fund. External Relations Dept.
IMF Publications Catalog Fall Winter 2017 Book PDF

Author : International Monetary Fund. External Relations Dept.
Publisher : International Monetary Fund
Page : 36 pages
File Size : 52,9 Mb
Release : 2017-09-07
Category : Electronic
ISBN : 9781484328224

Get Book

IMF Publications Catalog, Fall/Winter 2017 by International Monetary Fund. External Relations Dept. Pdf

This paper discusses about countries that must chart their own paths to effectively balance the potential benefits against the risks and challenges, including institutional and capacity constraints, privacy concerns, and new avenues for fraud and evasion. The digital revolution holds vast potential for fiscal policies. By transforming the way fiscal systems collect, process, and act on information, it can expand and reshape the way governments design and implement their tax, spending, and macro-fiscal policies. Countries will need to chart a path based on their individual circumstances—either by taking incremental steps to digitize, or by leapfrogging to newer and more sophisticated methods of policy formulation and implementation. A recurring theme in this book is the need for greater regional coordination in finding solutions to address the Caribbean’s shared and intertwined macroeconomic and structural challenges. The analysis suggests that strengthening regional and global market integration of Caribbean economies would provide an impetus to sustained growth in incomes and jobs.

Lost Decades: The Making of America's Debt Crisis and the Long Recovery

Menzie D. Chinn,Jeffry A. Frieden
Lost Decades The Making of America s Debt Crisis and the Long Recovery Book PDF

Author : Menzie D. Chinn,Jeffry A. Frieden
Publisher : W. W. Norton & Company
Page : 259 pages
File Size : 49,6 Mb
Release : 2011-09-19
Category : Business & Economics
ISBN : 9780393080506

Get Book

Lost Decades: The Making of America's Debt Crisis and the Long Recovery by Menzie D. Chinn,Jeffry A. Frieden Pdf

A clear, authoritative guide to the crisis of 2008, its continuing repercussions, and the needed reforms ahead. The U.S. economy lost the first decade of the twenty-first century to an ill-conceived boom and subsequent bust. It is in danger of losing another decade to the stagnation of an incomplete recovery. How did this happen? Read this lucid explanation of the origins and long-term effects of the recent financial crisis, drawn in historical and comparative perspective by two leading political economists. By 2008 the United States had become the biggest international borrower in world history, with more than two-thirds of its $6 trillion federal debt in foreign hands. The proportion of foreign loans to the size of the economy put the United States in league with Mexico, Indonesia, and other third-world debtor nations. The massive inflow of foreign funds financed the booms in housing prices and consumer spending that fueled the economy until the collapse of late 2008. This was the most serious international economic crisis since the Great Depression of the 1930s. Menzie Chinn and Jeffry Frieden explain the political and economic roots of this crisis as well as its long-term effects. They explore the political strategies behind the Bush administration’s policy of funding massive deficits with foreign borrowing. They show that the crisis was foreseen by many and was avoidable through appropriate policy measures. They examine the continuing impact of our huge debt on the continuing slow recovery from the recession. Lost Decades will long be regarded as the standard account of the crisis and its aftermath.

Trauma To Triumph: Rising From The Ashes Of The Asian Financial Crisis

Hoe Ee Khor,Diwa C Guinigundo,Masahiro Kawai
Trauma To Triumph Rising From The Ashes Of The Asian Financial Crisis Book PDF

Author : Hoe Ee Khor,Diwa C Guinigundo,Masahiro Kawai
Publisher : World Scientific
Page : 950 pages
File Size : 45,6 Mb
Release : 2022-05-12
Category : Business & Economics
ISBN : 9789811253577

Get Book

Trauma To Triumph: Rising From The Ashes Of The Asian Financial Crisis by Hoe Ee Khor,Diwa C Guinigundo,Masahiro Kawai Pdf

This book takes stock of and analyzes the events during the Asian financial crisis (AFC) and subsequent developments, including the global financial crisis (GFC), that led to the development of the ASEAN+3 regional financial cooperation framework and the establishment of the ASEAN+3 Macroeconomic Research Office. The book is the first of its kind to compile comprehensive recollections of the major players during the AFC and the GFC, including country-level narratives on the causes and developments of the crises, and measures to overcome them. The book not only presents an analytical and deeper examination of country experiences during both crises, but also assesses the two crises and covers the lessons learnt from the crises, particularly with a focus on the development of regional financial cooperation. The book concludes with regional financial cooperation in retrospect, aiming to catalyze further discussions on the direction of the region's financial cooperation.

Collaboration Between Regional Financing Arrangements and the IMF

International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Legal Dept.,International Monetary Fund. Asia and Pacific Dept,International Monetary Fund. Western Hemisphere Dept.,International Monetary Fund. Secretary's Department
Collaboration Between Regional Financing Arrangements and the IMF Book PDF

Author : International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Legal Dept.,International Monetary Fund. Asia and Pacific Dept,International Monetary Fund. Western Hemisphere Dept.,International Monetary Fund. Secretary's Department
Publisher : International Monetary Fund
Page : 44 pages
File Size : 46,6 Mb
Release : 2017-07-31
Category : Business & Economics
ISBN : 9781498346535

Get Book

Collaboration Between Regional Financing Arrangements and the IMF by International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Legal Dept.,International Monetary Fund. Asia and Pacific Dept,International Monetary Fund. Western Hemisphere Dept.,International Monetary Fund. Secretary's Department Pdf

The Global Financial Safety Net (GFSN) has expanded considerably since 2008, including in the non-traditional elements of the safety net such as Regional Financing Arrangements (RFAs). The resulting multi-layered structure of the GFSN makes collaboration between its various elements more important than in the past. Specifically, stronger collaboration between the Fund and RFAs would help increase the effective firepower of the GFSN and ensure a timely deployment of resources. The Fund’s experience in macroeconomic adjustment and its universal risk pooling would combine with the greater regional knowledge and country ownership brought the RFA. In this way, improved collaboration between the Fund and RFAs, including in co-financing, would significantly reduce the risk of contagion by encouraging countries to seek early assistance from the Fund. This paper is part of a broader set of proposals to fortify the GFSN (IMF, 2017b, c, d). It proposes both modalities for collaboration—across capacity development, surveillance, and lending—and some operational principles to help guide future co-lending between the Fund and the various RFAs. To date, the only operational guidance to facilitate collaboration has been limited to the high-level 2011 G20 Principles for Cooperation between the IMF and RFAs. Building on several case studies and the principles derived from them, this paper proposes an operational framework for future engagement. It aims to start a more structured dialogue between the Fund and individual RFAs on the modalities of how best to work together.

Constraining Democratic Governance in Southern Europe

José M. Magone
Constraining Democratic Governance in Southern Europe Book PDF

Author : José M. Magone
Publisher : Edward Elgar Publishing
Page : 288 pages
File Size : 44,7 Mb
Release : 2021-05-28
Category : Political Science
ISBN : 9781788111348

Get Book

Constraining Democratic Governance in Southern Europe by José M. Magone Pdf

In this thought-provoking book, José M. Magone investigates the growing political, economic and social divisions between the core countries of the European Union and the southern European periphery. He examines the major hindrances that are preventing the four main southern European countries (Italy, Spain, Portugal and Greece) from keeping up with the increasing pace of European integration, and the effects that this is having on democratic governance.

The Debt Crisis in the Eurozone

Nikos Petropoulos,George O. Tsobanoglou
The Debt Crisis in the Eurozone Book PDF

Author : Nikos Petropoulos,George O. Tsobanoglou
Publisher : Cambridge Scholars Publishing
Page : 550 pages
File Size : 50,5 Mb
Release : 2014-06-02
Category : Social Science
ISBN : 9781443861014

Get Book

The Debt Crisis in the Eurozone by Nikos Petropoulos,George O. Tsobanoglou Pdf

During the past four years, the countries of the European periphery – the so-called PIIGS (Portugal, Ireland, Italy, Greece and Spain) – have been experiencing an economic-financial crisis that can only be compared to the Great Depression. To solve the crisis, the EU and the IMF instituted bailout programs for the debit countries on conditions of austerity and structural reforms. In this volume 20 social scientists, using both theoretical and empirical tools, delve into the causes and the social impacts of this crisis. The volume also provides an excellent background for a better comprehension of the dynamics of structural and political changes now taking place within the European Union. The social impacts cover a range of consequences, including poverty, unemployment, anti-migrant attitudes, a decline of welfare and health indicators, post-traumatic stress disorders, national humiliation, political alienation and social protest. The authors analyse the “international” and the “domestic” causes of the crisis, while some of them underline the importance of both factors. In the concluding chapter, the editors undertake a synthesis of the previous chapters, and extract a number of policy recommendations that – if adopted – could transform the current financial crisis into a growth-opportunity for the European Union and its member states.

The Long Shadow of the Global Financial Crisis: Public Interventions in the Financial Sector

Ms.Deniz O Igan,Hala Moussawi,Alexander F. Tieman,Ms.Aleksandra Zdzienicka,Mr.Giovanni Dell'Ariccia,Mr.Paolo Mauro
The Long Shadow of the Global Financial Crisis Public Interventions in the Financial Sector Book PDF

Author : Ms.Deniz O Igan,Hala Moussawi,Alexander F. Tieman,Ms.Aleksandra Zdzienicka,Mr.Giovanni Dell'Ariccia,Mr.Paolo Mauro
Publisher : International Monetary Fund
Page : 90 pages
File Size : 53,6 Mb
Release : 2019-07-30
Category : Business & Economics
ISBN : 9781513508337

Get Book

The Long Shadow of the Global Financial Crisis: Public Interventions in the Financial Sector by Ms.Deniz O Igan,Hala Moussawi,Alexander F. Tieman,Ms.Aleksandra Zdzienicka,Mr.Giovanni Dell'Ariccia,Mr.Paolo Mauro Pdf

We track direct public interventions and public holdings in 1,114 financial institutions over the period 2007–17 in 37 countries based on publicly available information. We use aggregate official data to validate this new dataset and estimate the fiscal impact of interventions, including the value of asset holdings remaining in state hands at end-2017. Direct public support to financial institutions amounted to $1.6 trillion ($3.5 trillion including guarantees), with larger amounts allocated to lower capitalized and less profitable banks. As of end-2017, only a few countries had fully divested the initial support they provided during the crisis. Public holdings were divested faster in better capitalized, more profitable, and more liquid banks, and in countries where the economy recovered faster. In countries where the government stake remained high relative to the initial intervention, private investment and credit growth were slower, financial access, depth, efficiency, and competition were worse, and financial stability improved less.

Reforming the Greek Pension System

Mr. Alvar Kangur,Niki Kalavrezou,Mr. Daehaeng Kim
Reforming the Greek Pension System Book PDF

Author : Mr. Alvar Kangur,Niki Kalavrezou,Mr. Daehaeng Kim
Publisher : International Monetary Fund
Page : 26 pages
File Size : 52,5 Mb
Release : 2021-07-16
Category : Business & Economics
ISBN : 9781513588841

Get Book

Reforming the Greek Pension System by Mr. Alvar Kangur,Niki Kalavrezou,Mr. Daehaeng Kim Pdf

The Greek pension system has been costly, complex, and distortive, which has contributed to Greece’s fiscal problems and discouraged labor force participation. Several attempts to reform the system faltered due to lack of implementation, pushback by vested interests, and court rulings leading to reversals. A series of reforms introduced throughout 2015–17 unified benefit and contribution rules, removed several distortions and reduced fragmentation and costs. If fully implemented throughout the long-term, these reforms can go a long way towards enhancing the pension system affordability. However, reforms faced setbacks and fell short of creating stronger incentives to build long contribution histories, to deliver sustainable growth by improving the fiscal policy mix, and to ensure fairness and equitable burden sharing across generations and interest groups. Policy priorities should aim towards fully implementing the 2015–17 reforms and complementing them with additional reforms to address these remaining objectives.