Policy Options For Supporting And Restructuring Firms Hit By The Covid 19 Crisis

Policy Options For Supporting And Restructuring Firms Hit By The Covid 19 Crisis 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 Policy Options For Supporting And Restructuring Firms Hit By The Covid 19 Crisis book. This book definitely worth reading, it is an incredibly well-written.

Policy Options for Supporting and Restructuring Firms Hit by the COVID-19 Crisis

Ms. Juliana Dutra Araujo,José Garrido,Emanuel Kopp,Mr. Richard Varghese,Weijia Yao
Policy Options for Supporting and Restructuring Firms Hit by the COVID 19 Crisis Book PDF

Author : Ms. Juliana Dutra Araujo,José Garrido,Emanuel Kopp,Mr. Richard Varghese,Weijia Yao
Publisher : International Monetary Fund
Page : 79 pages
File Size : 52,8 Mb
Release : 2022-02-23
Category : Business & Economics
ISBN : 9781513593463

Get Book

Policy Options for Supporting and Restructuring Firms Hit by the COVID-19 Crisis by Ms. Juliana Dutra Araujo,José Garrido,Emanuel Kopp,Mr. Richard Varghese,Weijia Yao Pdf

This paper presents principles that could guide the design of more targeted policy support and facilitate the restructuring of firms adversely impacted by the COVID-19 pandemic. To this end, the paper takes stock of vulnerabilities and risks in the enterprise sector and assesses countries’ preparedness to handle a large-scale restructuring of businesses. Crisis preparedness of insolvency systems is measured according to a newly designed indicator that includes five dimensions of the insolvency and restructuring regime (out-of-court restructuring, hybrid restructuring, reorganization, liquidation, and the institutional framework). Vulnerabilities tend to be more pronounced in jurisdictions with shortcomings in crisis preparedness, and those countries need to step up efforts to improve their insolvency systems.

Operational Guidance Note On Program Design and Conditionality

International Monetary Fund. Strategy, Policy, & Review Department
Operational Guidance Note On Program Design and Conditionality Book PDF

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 179 pages
File Size : 52,6 Mb
Release : 2024-01-30
Category : Business & Economics
ISBN : 9798400264849

Get Book

Operational Guidance Note On Program Design and Conditionality by International Monetary Fund. Strategy, Policy, & Review Department Pdf

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.

Thailand

International Monetary Fund. Asia and Pacific Dept
Thailand Book PDF

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 44 pages
File Size : 49,8 Mb
Release : 2022-09-16
Category : Business & Economics
ISBN : 9798400221316

Get Book

Thailand by International Monetary Fund. Asia and Pacific Dept Pdf

Selected Issues

Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies

Mr.Federico J Diez,Mr.Romain A Duval,Jiayue Fan,José Garrido,Sebnem Kalemli-Ozcan,Chiara Maggi,Ms.Maria Soledad Martinez Peria,Mr.Nicola Pierri
Insolvency Prospects Among Small and Medium Sized Enterprises in Advanced Economies Book PDF

Author : Mr.Federico J Diez,Mr.Romain A Duval,Jiayue Fan,José Garrido,Sebnem Kalemli-Ozcan,Chiara Maggi,Ms.Maria Soledad Martinez Peria,Mr.Nicola Pierri
Publisher : International Monetary Fund
Page : 29 pages
File Size : 49,6 Mb
Release : 2021-04-02
Category : Business & Economics
ISBN : 9781513574561

Get Book

Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies by Mr.Federico J Diez,Mr.Romain A Duval,Jiayue Fan,José Garrido,Sebnem Kalemli-Ozcan,Chiara Maggi,Ms.Maria Soledad Martinez Peria,Mr.Nicola Pierri Pdf

The COVID-19 pandemic has increased insolvency risks, especially among small and medium enterprises (SMEs), which are vastly overrepresented in hard-hit sectors. Without government intervention, even firms that are viable a priori could end up being liquidated—particularly in sectors characterized by labor-intensive technologies, threatening both macroeconomic and social stability. This staff discussion note assesses the impact of the pandemic on SME insolvency risks and policy options to address them. It quantifies the impact of weaker aggregate demand, changes in sectoral consumption patterns, and lockdowns on firm balance sheets and estimates the impact of a range of policy options, for a large sample of SMEs in (mostly) advanced economies.

Fiscal Monitor, October 2022

International Monetary Fund
Fiscal Monitor October 2022 Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 100 pages
File Size : 52,6 Mb
Release : 2022-10-12
Category : Business & Economics
ISBN : 9798400212741

Get Book

Fiscal Monitor, October 2022 by International Monetary Fund Pdf

The report explores how fiscal policy can foster resilience by protecting households against large income and employment losses. Governments face increasingly difficult trade-offs in tackling the spikes in food and energy prices when policy buffers are largely exhausted after two years of pandemic. They should prioritize protecting vulnerable groups through targeted support while keeping a tight fiscal stance to help reduce inflation. Building fiscal buffers in normal times would allow governments to respond swiftly and flexibly during adversities. Several fiscal tools, such as job-retention schemes, have proven useful to preserve jobs and income for workers. Social safety nets should be made more readily scalable and better targeted, leveraging digital technologies. Exceptional support to firms should be reserved for severe situations and requires sound fiscal risk management.

Advancements in Business for Integrating Diversity, and Sustainability

Dimitrios A Karras,Srinesh Thakur,Sai Kiran Oruganti
Advancements in Business for Integrating Diversity and Sustainability Book PDF

Author : Dimitrios A Karras,Srinesh Thakur,Sai Kiran Oruganti
Publisher : Taylor & Francis
Page : 385 pages
File Size : 41,8 Mb
Release : 2024-03-01
Category : Business & Economics
ISBN : 9781040001776

Get Book

Advancements in Business for Integrating Diversity, and Sustainability by Dimitrios A Karras,Srinesh Thakur,Sai Kiran Oruganti Pdf

This book is the collection of selected articles that appeared at the First International Analytics Conference 2023 held in Hyderabad in virtual mode on February 2nd the 3rd 2023. In the fast-paced, ever-changing world of business, the pursuit of diversity and sustainability has emerged as a dynamic catalyst for progress. This illuminating volume takes you on a journey through the evolving realm of business, where innovative approaches are redefining corporate strategies and values.

Republic of Latvia

International Monetary,International Monetary Fund. African Dept.
Republic of Latvia Book PDF

Author : International Monetary,International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 25 pages
File Size : 45,9 Mb
Release : 2022-08-23
Category : Business & Economics
ISBN : 9798400218200

Get Book

Republic of Latvia by International Monetary,International Monetary Fund. African Dept. Pdf

Selected Issues

People’s Republic of China

International Monetary Fund. Asia and Pacific Dept
People s Republic of China Book PDF

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 58 pages
File Size : 43,7 Mb
Release : 2024-02-09
Category : Business & Economics
ISBN : 9798400266966

Get Book

People’s Republic of China by International Monetary Fund. Asia and Pacific Dept Pdf

Selected Issues

Corporate Liquidity and Solvency in Europe during COVID-19: The Role of Policies

Mr.Christian H Ebeke,Nemanja Jovanovic,Ms.Laura Valderrama,Jing Zhou
Corporate Liquidity and Solvency in Europe during COVID 19 The Role of Policies Book PDF

Author : Mr.Christian H Ebeke,Nemanja Jovanovic,Ms.Laura Valderrama,Jing Zhou
Publisher : International Monetary Fund
Page : 48 pages
File Size : 47,9 Mb
Release : 2021-03-02
Category : Business & Economics
ISBN : 9781513570914

Get Book

Corporate Liquidity and Solvency in Europe during COVID-19: The Role of Policies by Mr.Christian H Ebeke,Nemanja Jovanovic,Ms.Laura Valderrama,Jing Zhou Pdf

The spread of COVID-19, containment measures, and general uncertainty led to a sharp reduction in activity in the first half of 2020. Europe was hit particularly hard—the economic contraction in 2020 is estimated to have been among the largest in the world—with potentially severe repercussions on its nonfinancial corporations. A wave of corporate bankruptcies would generate mass unemployment, and a loss of productive capacity and firm-specific human capital. With many SMEs in Europe relying primarily on the banking sector for external finance, stress in the corporate sector could easily translate into pressures in the banking system (Aiyar et al., forthcoming).

COVID-19 and SME Failures

Pierre-Olivier Gourinchas,Ṣebnem Kalemli-Özcan,Veronika Penciakova,Nick Sander
COVID 19 and SME Failures Book PDF

Author : Pierre-Olivier Gourinchas,Ṣebnem Kalemli-Özcan,Veronika Penciakova,Nick Sander
Publisher : Unknown
Page : 54 pages
File Size : 43,8 Mb
Release : 2020
Category : Business enterprises
ISBN : OCLC:1198085446

Get Book

COVID-19 and SME Failures by Pierre-Olivier Gourinchas,Ṣebnem Kalemli-Özcan,Veronika Penciakova,Nick Sander Pdf

Abstract: We estimate the impact of the COVID-19 crisis on business failures among small and medium size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost-minimization and measure each firm's liquidity shortfall during and after COVID-19. Our framework allows for a rich combination of sectoral and aggregate supply, productivity, and demand shocks. We estimate a large increase in the failure rate of SMEs under COVID-19 of nearly 9 percentage points, absent government support. Accommodation & Food Services, Arts, Entertainment & Recreation, Education, and Other Services are among the most affected sectors. The jobs at risk due to COVID-19 related SME business failures represent 3.1 percent of private sector employment. Despite the large impact on business failures and employment, we estimate only moderate effects on the financial sector: the share of Non Performing Loans on bank balance sheets would increase by up to 11 percentage points, representing 0.3 percent of banks' assets and resulting in a 0.75 percentage point decline in the common equity Tier-1 capital ratio. We evaluate the cost and effectiveness of various policy interventions. The fiscal cost of an intervention that narrowly targets at risk firms can be modest (0.54% of GDP). However, at a similar level of effectiveness, non-targeted subsidies can be substantially more expensive (1.82% of GDP). Our results have important implications for the severity of the COVID-19 recession, the design of policies, and the speed of the recovery

Brookings Papers on Economic Activity: Fall 2020

Janice Eberly,James H. Stock,Steven J. Davis,Jason Furman,David H. Romer
Brookings Papers on Economic Activity Fall 2020 Book PDF

Author : Janice Eberly,James H. Stock,Steven J. Davis,Jason Furman,David H. Romer
Publisher : Brookings Institution Press
Page : 452 pages
File Size : 53,5 Mb
Release : 2021-06-22
Category : Business & Economics
ISBN : 9780815739395

Get Book

Brookings Papers on Economic Activity: Fall 2020 by Janice Eberly,James H. Stock,Steven J. Davis,Jason Furman,David H. Romer Pdf

Brookings Papers on Economic Activity (BPEA) provides academic and business economists, government officials, and members of the financial and business communities with timely research on current economic issues.

Policy Advice to Asia in the COVID-19 Era

Changyong Rhee,Katsiaryna Svirydzenka
Policy Advice to Asia in the COVID 19 Era Book PDF

Author : Changyong Rhee,Katsiaryna Svirydzenka
Publisher : International Monetary Fund
Page : 105 pages
File Size : 40,5 Mb
Release : 2021-03-05
Category : Health & Fitness
ISBN : 9781513566597

Get Book

Policy Advice to Asia in the COVID-19 Era by Changyong Rhee,Katsiaryna Svirydzenka Pdf

The Asia-Pacific region was the first to be hit by the COVID-19 pandemic; it put a strain on its people and economies, and policymaking became exceptionally difficult. This departmental paper contains the assessment of the key challenges facing Asia at this critical juncture and policy advice to the region both to address the current challenges and to build the foundations for a more sustainable and inclusive future. The paper focuses on (1) adjusting to the COVID-19 shock, (2) using unconventional policies when policy space is limited, (3) dealing with debt, and (4) helping the vulnerable and greening the recovery. The paper first presents the different ways countries are adjusting to the COVID-19 shock.

The COVID-19 Impact on Corporate Leverage and Financial Fragility

Sharjil M. Haque,Mr. Richard Varghese
The COVID 19 Impact on Corporate Leverage and Financial Fragility Book PDF

Author : Sharjil M. Haque,Mr. Richard Varghese
Publisher : International Monetary Fund
Page : 51 pages
File Size : 46,5 Mb
Release : 2021-11-05
Category : Business & Economics
ISBN : 9781589064126

Get Book

The COVID-19 Impact on Corporate Leverage and Financial Fragility by Sharjil M. Haque,Mr. Richard Varghese Pdf

We study the impact of the COVID-19 recession on capital structure of publicly listed U.S. firms. Our estimates suggest leverage (Net Debt/Asset) decreased by 5.3 percentage points from the pre-shock mean of 19.6 percent, while debt maturity increased moderately. This de-leveraging effect is stronger for firms exposed to significant rollover risk, while firms whose businesses were most vulnerable to social distancing did not reduce leverage. We rationalize our evidence through a structural model of firm value that shows lower expected growth rate and higher volatility of cash flows following COVID-19 reduced optimal levels of corporate leverage. Model-implied optimal leverage indicates firms which did not de-lever became over-leveraged. We find default probability deteriorates most in large, over-leveraged firms and those that were stressed pre-COVID. Additional stress tests predict value of these firms will be less than one standard deviation away from default if cash flows decline by 20 percent.

Corporate Vulnerabilities in Vietnam and Implications of COVID-19

Thilo Kroger,Anh Thi Ngoc Nguyen,Yuanyan Sophia Zhang,Pham Dinh Thuy,Nguyen Huy Minh,Duong Danh Tuan
Corporate Vulnerabilities in Vietnam and Implications of COVID 19 Book PDF

Author : Thilo Kroger,Anh Thi Ngoc Nguyen,Yuanyan Sophia Zhang,Pham Dinh Thuy,Nguyen Huy Minh,Duong Danh Tuan
Publisher : INTERNATIONAL MONETARY FUND
Page : 26 pages
File Size : 42,5 Mb
Release : 2020-11-20
Category : Business & Economics
ISBN : 1513561820

Get Book

Corporate Vulnerabilities in Vietnam and Implications of COVID-19 by Thilo Kroger,Anh Thi Ngoc Nguyen,Yuanyan Sophia Zhang,Pham Dinh Thuy,Nguyen Huy Minh,Duong Danh Tuan Pdf

The paper uses firm-level data to assess the financial health of the Vietnamese non-financial corporate sector on the eve of pandemic. Our analysis finds that smaller domestic firms were particularly vulnerable even by regional comparison. A sensitivity analysis suggests that the COVID-19 shock will have a substantial impact on firms’ profitability, liquidity and even solvency, particularly in the hardest hit sectors that are dominated by SMEs and account for a sizeable employment share, but large firms are not immune to the crisis. Risks of default can propagate more broadly through upstream and downstream linkages to industries not directly impacted, with stresses potentially translating into an increase in corporate bankruptcies and bank fragility. Policy measures taken in the immediate aftermath of the crisis have helped alleviate liquidity pressures, but the nature of policy support may have to pivot to support the recovery.