Fourteenth General Review Of Quotas Realigning Quota Shares Initial Considerations

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Fourteenth General Review of Quotas - Realigning Quota Shares - Initial Considerations

Author : International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.
Publisher : International Monetary Fund
Page : 150 pages
File Size : 41,8 Mb
Release : 2010-03-24
Category : Business & Economics
ISBN : 9781498337762

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Fourteenth General Review of Quotas - Realigning Quota Shares - Initial Considerations by International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept. Pdf

This note provides operational guidance and background information on the use of Fund resources for budgetary financing. It does this in the context of concerns expressed by some Executive Board Directors that, by providing such financing, the Fund might be held accountable for the quality of budgetary spending; that repayment could be subject to country budgetary processes; and that budget financing is the role of other institutions.

Fifteenth General Review of Quotas—Quota Formula and Realigning Shares

Author : International Monetary Fund. Finance Dept.,International Monetary Fund. Statistics Dept.
Publisher : International Monetary Fund
Page : 234 pages
File Size : 44,8 Mb
Release : 2021-03-05
Category : Business & Economics
ISBN : 9781513571201

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Fifteenth General Review of Quotas—Quota Formula and Realigning Shares by International Monetary Fund. Finance Dept.,International Monetary Fund. Statistics Dept. Pdf

This paper provides background for an initial discussion under the Fifteenth General Review of Quotas (15th Review) in line with the work plan agreed by the Executive Board. It discusses issues related to further reforms of the quota formula and realigning quota shares, based on updated quota data through 2015. A companion paper, to be discussed separately, will address issues related to the size of the Fund and mix of quota and borrowed resources. Both these papers seek to facilitate initial discussions on some of the key issues for the 15th Review. No proposals are made at this stage, recognizing that further deliberations will be needed before the issues under discussion can begin to be narrowed down.

Fourteenth General Review of Quotas - Realigning Quota Shares - Further Considerations

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 163 pages
File Size : 42,8 Mb
Release : 2010-10-08
Category : Business & Economics
ISBN : 9781498337243

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Fourteenth General Review of Quotas - Realigning Quota Shares - Further Considerations by International Monetary Fund Pdf

In light of the multilateral effort to ensure the adequacy of the financial resources available to the International Monetary Fund (the “Fund”), and with a view to supporting the Fund’s ability to provide timely and effective balance of payments assistance to its members, the Bank of Slovenia agrees to lend to the Fund an SDR-denominated amount up to the equivalent of EUR 280 million, on the terms and conditions set out in this paper.

Fourteenth General Review of Quotas - Further Considerations

Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 48 pages
File Size : 53,8 Mb
Release : 2010-02-09
Category : Business & Economics
ISBN : 9781498336895

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Fourteenth General Review of Quotas - Further Considerations by International Monetary Fund. Finance Dept. Pdf

This paper provides the basis for the next round of discussions on the 14th General Review of Quotas. The Committee of the Whole (COW) has so far met three times this year: in March and July to consider the realignment of quota shares, and in April for an initial discussion on the size of the overall increase. Directors also met informally with the Managing Director on July 22 to take stock of the remaining issues, keeping in mind the tight timetable for completing the review and the need for flexibility and compromise from all sides. As discussed at the informal meeting, the Board recess provided an opportunity to take stock of the different positions and seek guidance from capitals on possible ways forward, with the goal of reaching a pragmatic solution that could bridge the remaining gaps within the relatively short period of time still available.

Fourteenth General Review of Quotas - The Size of the Fund - Initial Considerations

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 36 pages
File Size : 54,9 Mb
Release : 2010-03-29
Category : Business & Economics
ISBN : 9781498337724

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Fourteenth General Review of Quotas - The Size of the Fund - Initial Considerations by International Monetary Fund Pdf

The FY 11–13 medium-term budget (MTB) presented in this paper brings to a close the three-year restructuring effort that began with the FY 09–11 MTB. It secures savings of $100 million in real terms while providing sufficient financing for structural operations and the Fund’s response to the global financial crisis. This budget has been crafted in a period of uncertainty regarding the final scope and duration of the financial crisis as well as the ongoing responsibilities that the Fund may retain even as the crisis unwinds. There is also uncertainty about new responsibilities that may result as a review of the Fund’s mandate is undertaken. Addressing these items will be part of the work agenda to be undertaken in the coming year.

Fourteenth General Review of Quotas - Updated Data Set and Quota Calculations

Author : International Monetary Fund. Legal Dept.,International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 53 pages
File Size : 43,9 Mb
Release : 2010-07-15
Category : Business & Economics
ISBN : 9781498337311

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Fourteenth General Review of Quotas - Updated Data Set and Quota Calculations by International Monetary Fund. Legal Dept.,International Monetary Fund. Finance Dept. Pdf

In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for selected Fund Activities (the “SFA Instrument”). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of a subaccount within the SFA. This paper requests Executive Board approval to establish the United States Subaccount for Selected Fund Activities (the “Subaccount”) under the terms of the SFA instrument.

Fifteenth General Review of Quotas - Report of the Executive Board to the Board of Governors

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 7 pages
File Size : 45,8 Mb
Release : 2016-02-11
Category : Business & Economics
ISBN : 9781498345118

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Fifteenth General Review of Quotas - Report of the Executive Board to the Board of Governors by International Monetary Fund Pdf

In the report, the Executive Board proposes that the Board of Governors adopt a Resolution: (i) noting the Report of the Executive Board and expressing regret that the timetable for completing the Fifteenth Review established under Resolution No. 71-2 is no longer within reach; (ii) calling on the Executive Board to work on the Fifteenth Review expeditiously in line with existing Executive Board understandings and the guidance provided by the IMFC on October 8, 2016 with the aim of completing the Fifteenth Review by the 2019 Spring Meetings and no later than the 2019 Annual Meetings; (iii) requesting that the Executive Board report on progress on the Fifteenth Review to the Board of Governors semiannually, with a first report by the 2017 Annual Meetings; and (iv) urging the remaining members who have not yet consented to their quota increases under the Fourteenth General Review of Quotas to do so without further delay and urging the members who have consented to their quota increases to make their quota payments in a timely manner.

Quota Formula Review - Initial Considerations

Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 35 pages
File Size : 40,8 Mb
Release : 2012-10-02
Category : Business & Economics
ISBN : 9781498340908

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Quota Formula Review - Initial Considerations by International Monetary Fund. Finance Dept. Pdf

The Board of Governors has asked the Executive Board to complete a comprehensive review of the quota formula by January 2013. This review is an mportant part of the 2010 quota and governance reforms. At the Seoul Summit, G-20 Leaders welcomed the reforms, which they noted include “Continuing the dynamic process aimed at enhancing the voice and representation of emerging market and developing countries, including the poorest, through a comprehensive review of the quota formula by January 2013 to better reflect the economic weights; and through completion of the next general review of quotas by January 2014.” At its most recent meeting in September 2011, the IMFC stressed that governance reform is crucial to the legitimacy and effectiveness of the IMF. The IMFC committed to intensify its efforts to meet the 2012 Annual Meetings target for effectiveness of the 2010 reform, and called for a report on progress in the quota formula review by the time of its next meeting.

Fourteenth General Review of Quotas - Possible Elements of a Compromise

Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 48 pages
File Size : 55,8 Mb
Release : 2010-05-10
Category : Business & Economics
ISBN : 9781498336741

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Fourteenth General Review of Quotas - Possible Elements of a Compromise by International Monetary Fund. Finance Dept. Pdf

The IMFC in its April 2010 Communiqué pledged to complete the 14th Quota Review before January 2011 in line with the parameters agreed in Istanbul. The Committee of the Whole (COW) has since continued its work aimed at developing proposals that could command broad support. At its most recent meeting in September, there was a shared commitment to reaching an agreement within the agreed timetable but views remained divided on many issues. To facilitate progress towards the agreed goal, this paper suggests possible elements that could help form the basis for an agreement. These elements seek to build on the discussions to date and balance the diverse views that have been expressed. Inevitably, they will not fully meet the preferences or priorities of any individual member, and difficult compromises will be required from all sides if an agreement is to be reached.

Executive Board Progress Report to the IMFC on the Reform of Fund Governance

Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 12 pages
File Size : 55,7 Mb
Release : 2010-06-22
Category : Business & Economics
ISBN : 9781498337380

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Executive Board Progress Report to the IMFC on the Reform of Fund Governance by International Monetary Fund. Finance Dept. Pdf

At its most recent meeting in April 2010, the IMFC pledged to complete the 14th General Review of Quotas before January 2011. This follows an earlier call by G-20 Leaders and the IMFC to bring forward the deadline for completing the 14th Review by two years as part of the multilateral response to the global financial crisis and the recognized need to enhance the Fund’s legitimacy and effectiveness.

Quota Formula Review - Data Update and Issues

Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 29 pages
File Size : 42,6 Mb
Release : 2011-08-17
Category : Business & Economics
ISBN : 9781498338585

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Quota Formula Review - Data Update and Issues by International Monetary Fund. Finance Dept. Pdf

At the conclusion of the 14th General Review of Quotas (14th Review), the Board of Governors requested that a comprehensive review of the quota formula be completed by the Executive Board by January 2013. The timetable for completing the 15th General Review was also brought forward by two years to January 2014. This paper is intended to serve as background for an initial informal exchange of views on issues relating to the formula review. It begins with a brief stock-take, before presenting the results of updating the quota database through 2009. The remainder of the paper discusses potential issues that could be considered as part of the review.

Quota Formula Review - Data Update and Further Considerations - Supplementary Information

Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 19 pages
File Size : 51,9 Mb
Release : 2012-06-29
Category : Business & Economics
ISBN : 9781498340311

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Quota Formula Review - Data Update and Further Considerations - Supplementary Information by International Monetary Fund. Finance Dept. Pdf

This Annex presents additional staff work on financial interconnectedness. The analysis examines a possible methodology for constructing indicators of financial interconnectedness and related data issues. In addition, it presents some illustrative simulation results.This annex focuses on financial interconnectedness that takes into account the pattern and size of cross-border financial linkages and potentially provides a more comprehensive picture of a country’s international financial integration

European Yearbook of International Economic Law 2012

Author : Christoph Herrmann,Jörg Philipp Terhechte
Publisher : Springer Science & Business Media
Page : 721 pages
File Size : 42,5 Mb
Release : 2011-12-21
Category : Law
ISBN : 9783642233081

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European Yearbook of International Economic Law 2012 by Christoph Herrmann,Jörg Philipp Terhechte Pdf

The third volume of the European Yearbook of International Economic law focuses on two major topics of current academic and political interest. Firstly, it adresses the 10th anniversary of China's accession to the WTO and its implications; secondly, it deals with different legal aspects of global energy markets.

Fifteenth General Review of Quotas— Additional Considerations and Data Update

Author : International Monetary Fund. Finance Dept.,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Statistics Dept.
Publisher : International Monetary Fund
Page : 177 pages
File Size : 44,9 Mb
Release : 2021-03-05
Category : Business & Economics
ISBN : 9781513571317

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Fifteenth General Review of Quotas— Additional Considerations and Data Update by International Monetary Fund. Finance Dept.,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Statistics Dept. Pdf

This paper provides background for a further round of discussions on the Fifteenth General Review of Quotas (hereafter 15th Review). The paper builds on work presented in previous staff papers and Directors’ views expressed in three meetings of the Committee of the Whole in September 2017 and February 2018. No proposals are presented at this stage, pending further Board guidance on possible approaches to narrowing the current differences of views.

Fifteenth General Review of Quotas—Further Considerations

Author : International Monetary Fund. Finance Dept.,International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 93 pages
File Size : 42,5 Mb
Release : 2021-03-05
Category : Business & Economics
ISBN : 9781513571287

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Fifteenth General Review of Quotas—Further Considerations by International Monetary Fund. Finance Dept.,International Monetary Fund. Strategy, Policy, & Review Department Pdf

The paper revisits the two-pillar framework for assessing the adequacy of Fund resources. Responding to Directors suggestions, the quantitative pillar is updated to include alternative assumptions and to provide a longer-term perspective on likely resource needs. While quantitative estimates are generally somewhat lower after factoring in the alternative assumptions, these reductions are more than outweighed when the analysis is extended through the middle of the next decade, recognizing that the outcome of the 15th Review will likely determine permanent Fund resources through at least the middle of the next decade. The updated qualitative pillar analysis highlights reforms since the global financial crisis and discusses uncertainties in the global environment. It also provides an assessment of the general impact of the various qualitative considerations. Taken together, the two pillars continue to make a case for at least maintaining existing Fund resources. Against this background, the simulations in the paper cover three illustrative sizes for quota increases (50, 75, and 100 percent), centered on broadly maintaining Fund resources, assuming the New Arrangements to Borrow (NAB) is maintained at its current level and Bilateral Borrowing Agreements (BBAs) expire.