Financing For Development Enhancing The Financial Safety Net For Developing Countries

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Financing for Development

Author : International Monetary Fund. Statistics Dept.,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.
Publisher : INTERNATIONAL MONETARY FUND
Page : 21 pages
File Size : 46,8 Mb
Release : 2016-10-25
Category : Business & Economics
ISBN : 1498345158

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Financing for Development by International Monetary Fund. Statistics Dept.,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept. Pdf

PRGT-eligible members make considerable use of Fund concessional financing. Since 2010, 56 percent of Fund arrangements have involved a PRGT-facility. This paper examines a number of issues raised by Executive Directors and the International Monetary and Financial Committee (IMFC) since the issuance to the Board of the June 2015 staff paper on enhancing the financial safety net for developing countries (IMF, 2015a). This paper concludes that there is a need to clarify guidance in some areas pertaining to PRGT policies. This will be done through an early revision of the LIC Handbook, which is already underway. The paper does not propose changes to the Fund’s concessional facilities at this juncture. A comprehensive review of PRGT (Poverty Reduction and Growth Trust) resources and facilities is planned for 2018.

Financing for Development - Enhancing the Financial Safety Net for Developing Countries

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 57 pages
File Size : 51,7 Mb
Release : 2015-11-06
Category : Business & Economics
ISBN : 9781498344463

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Financing for Development - Enhancing the Financial Safety Net for Developing Countries by International Monetary Fund Pdf

Access to Fund financial resources provides a financial safety net to help countries manage adverse shocks, acting as a potential supplement to foreign reserves when there is a balance of payments need. Such support is especially important to developing countries with limited capacity to borrow in domestic or foreign markets. This paper proposes a set of measures that would expand access to Fund resources for developing countries, as one of the initiatives the Fund is undertaking as part of the wider effort of the international community to support countries in pursuing the post- 2015 Sustainable Development Goals (SDGs).

Financing For Development - Revisiting the Monterrey Consensus

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 57 pages
File Size : 47,9 Mb
Release : 2015-06-15
Category : Business & Economics
ISBN : 9781498344449

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Financing For Development - Revisiting the Monterrey Consensus by International Monetary Fund Pdf

2015 is set to be a pivotal year for the international development agenda, with agreements to be reached on the objectives and policies for promoting development that is economically, socially, and environmentally sustainable through 2030. The first stage in completing the debate on these issues is the Third UN Conference on Financing for Development (FfD), to be held in Addis Ababa during July 13–16, 2015, which aims to build an international consensus on the actions needed to ensure that sufficient financing is available for developing countries in pursuing sustainable development.

Review of Implementation of IMF Commitments in Support of the 2030 Agenda for Sustainable Development

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 47 pages
File Size : 52,7 Mb
Release : 2019-06-03
Category : Business & Economics
ISBN : 9781498318082

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Review of Implementation of IMF Commitments in Support of the 2030 Agenda for Sustainable Development by International Monetary Fund. Strategy, Policy, & Review Department Pdf

The paper reviews the implementation of the initiatives the IMF committed to in 2015 to support developing countries in pursuing the 2030 agenda for sustainable development, including (i) strengthening national tax systems; (ii) tackling large infrastructure gaps; (iii) promoting economic inclusion; (iv) the development of domestic financial markets; (v) intensifying engagement in fragile and conflict-affected states; (vi) improving economic statistics; (vii) expanding the financial safety net for developing countries; and (viii) addressing macroeconomic aspects of climate change. The implementation record to date shows that there has been a large scaling up of IMF support for the 2030 development agenda. The IMF has also engaged in other initiatives of direct relevance for supporting the 2030 development agenda, including adopting a framework to assess corruption vulnerabilities and developing a broad framework for assessing the spending levels needed to reach key SDGs. The paper draws lessons learned from the implementation of the various initiative to inform future IMF engagements.

2016 Handbook of IMF Facilities for Low-Income Countries

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : INTERNATIONAL MONETARY FUND
Page : 189 pages
File Size : 54,8 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.

International Finance and Development

Author : Jose Antonio Ocampo,Jan Kregel,Stephany Griffith-Jones
Publisher : Zed Books
Page : 228 pages
File Size : 52,9 Mb
Release : 2007-04
Category : Business & Economics
ISBN : 1842778625

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International Finance and Development by Jose Antonio Ocampo,Jan Kregel,Stephany Griffith-Jones Pdf

This publication reviews the major financing issues influencing economic development since the historic Monterrey Consensus of the International Conference on Financing for Development in 2002. It contains four main chapters under the headings of: international private capital flows; official development financing; external debt; and systemic issues.

Fiscal Space

Author : Rathin Roy,Antoine Heuty
Publisher : Routledge
Page : 523 pages
File Size : 42,7 Mb
Release : 2012-05-31
Category : Business & Economics
ISBN : 9781136565670

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Fiscal Space by Rathin Roy,Antoine Heuty Pdf

With the deadline for achieving the 2015 Millennium Development Goals (MDGs) less than a decade away, the uneven progress is raising important questions about the ability of the international community to 'scale up' its efforts to finance the goals. Securing adequate financing for development has thus become the most pressing issue of the development agenda. This groundbreaking volume, by leading development economists and practitioners, addresses the central concern for policymakers involved in long term planning for the MDGs: how to create 'fiscal space' for the MDGs and strengthen domestic resource mobilization for human development, while ensuring long-term sustainability and freedom from reliance on aid. By looking at the evidence with fresh perspectives, the authors present a novel approach by which fiscal policy can be made to work for the poor, for the long term. Published with UNDP and Revenue Watch.

Innovative Financing for Development

Author : Suhas Ketkar,Dilip Ratha
Publisher : World Bank Publications
Page : 216 pages
File Size : 52,8 Mb
Release : 2008-09-29
Category : Business & Economics
ISBN : 082137706X

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Innovative Financing for Development by Suhas Ketkar,Dilip Ratha Pdf

Developing countries need additional, cross-border capital channeled into their private sectors to generate employment and growth, reduce poverty, and meet the other Millennium Development Goals. Innovative financing mechanisms are necessary to make this happen. 'Innovative Financing for Development' is the first book on this subject that uses a market-based approach. It compiles pioneering methods of raising development finance including securitization of future flow receivables, diaspora bonds, and GDP-indexed bonds. It also highlights the role of shadow sovereign ratings in facilitating access to international capital markets. It argues that poor countries, especially those in Sub-Saharan Africa, can potentially raise tens of billions of dollars annually through these instruments. The chapters in the book focus on the structures of the various innovative financing mechanisms, their track records and potential for tapping international capital markets, the constraints limiting their use, and policy measures that governments and international institutions can implement to alleviate these constraints.

Update on the Financing of the Fund's Concessional Assistance and Debt Relief to Low-Income Member Countries

Author : International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 43 pages
File Size : 41,9 Mb
Release : 2016-01-04
Category : Business & Economics
ISBN : 9781498345828

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Update on the Financing of the Fund's Concessional Assistance and Debt Relief to Low-Income Member Countries by International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Strategy, Policy, & Review Department Pdf

Better targeted support to LICs. In July 2015, the Executive Board approved measures to strengthen the financial safety net for low-income countries. Specifically, access norms and limits to the Poverty Reduction and Growth Trust (PRGT) resources were increased by 50 percent and the Rapid Credit Facility (RCF) interest rate was set permanently at zero. In addition, four countries graduated from PRGT eligibility. Together with a rebalancing of the mix of blended financing towards more use of general Fund resources for better-off PRGT-eligible countries, these reforms were broadly resource neutral and left the PRGT self-sustaining framework intact. Demand for PRGT resources up strongly. In 2015, demand reached SDR 1.5 billion, largely in response to shocks to commodity prices and adverse global financial market conditions. Demand is expected to remain elevated in 2016, as the global environment continues to be challenging.

Official Financing for Developing Countries

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 111 pages
File Size : 50,5 Mb
Release : 2001-08-02
Category : Business & Economics
ISBN : 9781455283989

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Official Financing for Developing Countries by International Monetary Fund Pdf

This paper reports an updated assessment of movements in official financing for developing countries during 1997-1999. The composition of official financing flows changed too; as a result of the Asian crisis Member states of the Development Assistance Committee (DAC) increased official development financing from $73 billion in 1996 to $85 billion in 1999. At the same time, however, new commitments by export credit agencies--a resource not included in the DAC figures--declined during this period, reflecting a slowing down in large-scale projects as governments affected by the Asian financial crisis suspended or postponed a number of public sector projects. The debt relief and its orientation toward poverty reduction is an important contribution to international efforts to help raise the living standards of the poorest in the world. Its success, however, will crucially depend on the willingness of donor countries to increase resources for development aid and link them to the recipient countries' poverty reduction strategies.

Financing for Development

Author : United Nations. Department of Economic and Social Affairs. Financing for Development Coordinating Secretariat
Publisher : United Nations Publications
Page : 384 pages
File Size : 55,8 Mb
Release : 2002
Category : Economic development
ISBN : STANFORD:36105112235218

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Financing for Development by United Nations. Department of Economic and Social Affairs. Financing for Development Coordinating Secretariat Pdf

This publication offers a comprehensive view of the Monterrey Conference, pulling together in one volume and CD-ROM all the relevant speeches, proposals, reports, resolutions and other documentation, including the Monterrey Consensus itself.

Update on the Financing of the Fund’s Concessional Assistance and Debt Relief to Low-Income Countries

Author : International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 45 pages
File Size : 43,5 Mb
Release : 2017-04-17
Category : Business & Economics
ISBN : 9781498346986

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Update on the Financing of the Fund’s Concessional Assistance and Debt Relief to Low-Income Countries by International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Strategy, Policy, & Review Department Pdf

PRGT-related policies following the 2015 enhancement of the financial safety net for LICs, while options to better assist countries confronting sudden balance of payments needs due to large natural disasters are under consideration. Demand for PRGT resources has increased. Demand for concessional resources has exceeded historical averages in recent years, mainly in response to sustained low commodity prices and deteriorated global financial market conditions. Demand is expected to reach new highs in 2017 and longer-term estimates have been raised somewhat.

Contemporary Issues in Development Finance

Author : Joshua Yindenaba Abor,Charles Komla Delali Adjasi,Robert Lensink
Publisher : Routledge
Page : 461 pages
File Size : 42,9 Mb
Release : 2020-12-29
Category : Business & Economics
ISBN : 9780429835254

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Contemporary Issues in Development Finance by Joshua Yindenaba Abor,Charles Komla Delali Adjasi,Robert Lensink Pdf

Contemporary Issues in Development Finance provides comprehensive and up-to-date coverage of theoretical and policy issues in development finance from both the domestic and the external finance perspectives and emphasizes addressing the gaps in financial markets. The chapters cover topical issues such as microfinance, private sector financing, aid, FDI, remittances, sovereign wealth, trade finance, and the sectoral financing of agricultural and infrastructural projects. Readers will acquire both breadth and depth of knowledge in critical and contemporary issues in development finance from a philosophical and yet pragmatic development impact approach. The text ensures this by carefully integrating the relevant theoretical underpinnings, empirical assessments, and practical policy issues into its analysis. The work is designed to be fully accessible to practitioners with only a limited theoretical economic background, allowing them to deeply engage with the book as useful reference material. Readers may find more advanced information and technical details provided in clear, concise boxes throughout the text. Finally, each chapter is fully supported by a set of review questions and by cases and examples from developing countries, particularly those in Africa. This book is a valuable resource for both development finance researchers and students taking courses in development finance, development economics, international finance, financial development policy, and economic policy management. Practitioners will find the development impact, policy, and conceptual analysis dimensions insightful analysing and designing intervention strategies.

IMF Financial Operations 2015

Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 181 pages
File Size : 51,7 Mb
Release : 2015-10-05
Category : Business & Economics
ISBN : 9781513549897

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IMF Financial Operations 2015 by International Monetary Fund. Finance Dept. Pdf

IMF Financial Operations 2015 provides a broad introduction to how the IMF fulfills its mission through its financial activities. It covers the financial structure and operations of the IMF and also provides background detail of the financial statements for the IMF's activities during the most recent financial year. This publication (currently in its second edition) updates a previous report entitled Financial Organization and Operations of the IMF, first published in 1986 and last issued in 2001 (the sixth edition). That 2001 report reflected the seismic shifts in the global economy and in the IMF's structure and operations that occurred after the fall of the Soviet Union and the various currency and financial crises of the 1990s. This revised and updated report covers more recent developments, including measures taken in response to the global financial crisis of 2007–09 and the institutional reforms aimed at ensuring that the IMF's governance structure evolves in line with developments in the global economy, measures to enhance the financial safety net for developing economies, as well as reforms to the IMF's income model.

Helping Developing Countries Address Public Debt Management Challenges - An IMF-World Bank Capacity Building Partnership

Author : World Bank,International Monetary Fund. Fiscal Affairs Dept.,International Monetary Fund
Publisher : International Monetary Fund
Page : 29 pages
File Size : 54,8 Mb
Release : 2013-05-03
Category : Business & Economics
ISBN : 9781498342155

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Helping Developing Countries Address Public Debt Management Challenges - An IMF-World Bank Capacity Building Partnership by World Bank,International Monetary Fund. Fiscal Affairs Dept.,International Monetary Fund Pdf

In 2009, the Boards of the IMF and World Bank jointly endorsed a capacity building program to help developing countries strengthen their public debt management frameworks. A key aspect of the program was to help developing countries implement the framework developed by staffs to formulate an effective medium-term debt management strategy (MTDS). The Boards also supported the continued use of the complementary framework—the Debt Management Performance Assessment (DeMPA)—developed in 2007, to assess the effectiveness of the broader institutional arrangements for public debt management. This paper provides an update on the implementation of the program since its endorsement in 2009.