Review Of The Adequacy Of And Options For Supplementing Fund Resources

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Review of the Adequacy of and Options for Supplementing Fund Resources

Author : International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 32 pages
File Size : 46,7 Mb
Release : 2009-12-01
Category : Business & Economics
ISBN : 9781498336406

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Review of the Adequacy of and Options for Supplementing Fund Resources by International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Strategy, Policy, & Review Department Pdf

This review discusses the potential scale of a possible increase, as well as modalities that would facilitate a prompt increase in the Fund’s resources should the need for additional resources be agreed. While a permanent increase in Fund resources has traditionally been achieved through an increase in quotas, borrowing has often been used to bridge to a general quota increase given the substantial time involved in the latter undertaking. At a time of crisis, the case for such an approach is even stronger. The precise design and scope of any such borrowing would need to be considered in consultation with potential creditors, and with careful attention to the broader implications for the Fund’s finances.

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 : 51,9 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.

Review of Fund Facilities-Analytical Basis for Fund Lending and Reform Options

Author : International Monetary Fund. Legal Dept.,International Monetary Fund. Monetary and Capital Markets Department,International Monetary Fund. Research Dept.,International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 48 pages
File Size : 50,7 Mb
Release : 2009-06-02
Category : Business & Economics
ISBN : 9781498336314

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Review of Fund Facilities-Analytical Basis for Fund Lending and Reform Options by International Monetary Fund. Legal Dept.,International Monetary Fund. Monetary and Capital Markets Department,International Monetary Fund. Research Dept.,International Monetary Fund. Strategy, Policy, & Review Department Pdf

In the context of the ongoing review of Fund facilities, this paper examines the analytical basis for Fund lending in emerging market countries and provides a broad-ranging perspective for reforming the General Resources Account (GRA) lending toolkit. The Fund’s important lending role in crisis prevention and resolution is buttressed by its unique characteristics: (i) its ability as a nonatomistic lender to provide large-scale financing and reduce the likelihood of a run by private creditors; (ii) its ability as a cooperative institution with near-universal membership to agree conditionality with members, thus providing national authorities with a policy commitment tool to underpin confidence and catalyze private lending; and (iii) its de facto preferred creditor status, which allows it to provide crisis financing when private creditors may be reluctant to lend.

Key Developments in IMF Policy Work--October 12, 2008-April 22, 2009

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 9 pages
File Size : 54,8 Mb
Release : 2009-09-04
Category : Business & Economics
ISBN : 9781498336109

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Key Developments in IMF Policy Work--October 12, 2008-April 22, 2009 by International Monetary Fund Pdf

This paper summarizes key developments in the Fund’s policy work since the 2008 Annual Meetings. Table 1 presents key conclusions of policy initiatives. Table 2 provides a progress report on implementation of the Fund’s surveillance priorities.

Borrowing Agreement with the Government of Japan

Author : International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.
Publisher : International Monetary Fund
Page : 16 pages
File Size : 41,5 Mb
Release : 2009-10-02
Category : Business & Economics
ISBN : 9781498336307

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Borrowing Agreement with the Government of Japan by International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept. Pdf

The Prime Minister of Japan announced Japan’s willingness to lend up to $100 billion to the Fund to help overcome the current crisis in the lead up to the November 2008 summit of the Leaders of the Group of Twenty. The loan proposed by the Government of Japan would make a substantial contribution to the multilateral effort to ensure the adequacy of the Fund’s financial resources. The Government of Japan intends that the proposed loan be used to support the Fund’s ability to provide timely and effective balance of payments assistance to its members in the current global financial turbulence, including to the emerging market economies that are expected to continue their roles as drivers of global growth.

A Framework for the Fund's Issuance of Notes to the Official Sector

Author : International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.
Publisher : International Monetary Fund
Page : 29 pages
File Size : 51,8 Mb
Release : 2009-06-17
Category : Business & Economics
ISBN : 9781498335881

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A Framework for the Fund's Issuance of Notes to the Official Sector by International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept. Pdf

On July 1, 2009, the Executive Board of the International Monetary Fund discussed the Managing Director's proposal for a framework for issuing notes to the official sector. The framework approved by the Executive Board was adapted on the basis of these discussions, as reflected in supplement 2 of the paper. It enables members to invest in IMF paper under note purchase agreements approved by the Board, without any pre-specified limit on the cumulative amount committed under note purchase agreements. The actual issuance of notes will occur should the IMF need additional resources at the time of a loan disbursement to a member. The notes would have similar financial terms to the IMF’s recent bilateral borrowing agreements.

Resetting the International Monetary (Non)System

Author : José Antonio Ocampo
Publisher : Oxford University Press
Page : 296 pages
File Size : 48,8 Mb
Release : 2017
Category : Business & Economics
ISBN : 9780198718116

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Resetting the International Monetary (Non)System by José Antonio Ocampo Pdf

Annotation Provides an analysis of the global monetary system and proposes a comprehensive yet evolutionary reform of the system aimed at creating better monetary cooperation for the twenty-first century.

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 : 45,6 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.

The Fund’s Mandate - The Future Financing Role - Reform Proposals

Author : International Monetary Fund. Legal Dept.,International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 34 pages
File Size : 54,9 Mb
Release : 2010-11-08
Category : Business & Economics
ISBN : 9781498337229

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The Fund’s Mandate - The Future Financing Role - Reform Proposals by International Monetary Fund. Legal Dept.,International Monetary Fund. Monetary and Capital Markets Department Pdf

This paper examines the implications of the Fund accepting membership in the Financial Stability Board (“FSB”). The FSB Charter (the ?Charter?) explicitly contemplates the possibility of the Fund and the other international financial institutions becoming members but notes that ?the acceptance of membership by the international financial institutions (IFIs) in the FSB is subject to the approval of their respective governing bodies.? An Executive Board decision is required for the Fund to accept membership and is proposed below.

Laid Low

Author : Paul Blustein
Publisher : McGill-Queen's Press - MQUP
Page : 504 pages
File Size : 48,8 Mb
Release : 2016
Category : Business & Economics
ISBN : 9781928096252

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Laid Low by Paul Blustein Pdf

The International Monetary Fund's role in the euro-zone crisis.

Reforming the International Financial System for Development

Author : Jomo Kwame Sundaram
Publisher : Columbia University Press
Page : 390 pages
File Size : 46,9 Mb
Release : 2010
Category : Business & Economics
ISBN : 9780231157643

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Reforming the International Financial System for Development by Jomo Kwame Sundaram Pdf

Jomo Kwame Sundaram is assistant secretary general for economic development at the United Nations and research coordinator for the G24 Intergovernmental Group on International Monetary Affairs and Development. In 2007 he was awarded the Wassily Leontief Prize for Advancing the Frontiers of Economic Thought. --Book Jacket.

Romania

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 85 pages
File Size : 41,6 Mb
Release : 2009-06-10
Category : Business & Economics
ISBN : 9781451832914

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Romania by International Monetary Fund Pdf

Romania’s GDP growth averaged more than 61⁄2 percent per year from 2003 to 2008, as foreign direct investment and capital inflows helped finance high consumption and investment growth. The staff report for Romania’s request for a Stand-By Arrangement is also elaborated. Robust export growth to EU countries reflected the process of increasing economic integration with western European economies. The rapid increase in borrowing that fueled the boom left Romania highly exposed to global financial difficulties and to exchange rate volatility.

Quotas - Updated Calculations and Quota Variables

Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 97 pages
File Size : 42,6 Mb
Release : 2009-08-27
Category : Business & Economics
ISBN : 9781498335652

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Quotas - Updated Calculations and Quota Variables by International Monetary Fund. Finance Dept. Pdf

In its April 2009 Communiqué, the IMFC called for a prompt start to the Fourteenth General Review of Quotas so that it is completed by January 2011--some two years ahead of schedule. The IMFC noted that the review is expected to result in increases in the quota shares of dynamic economies, particularly in the share of emerging market and developing countries as a whole. The IMFC also looked forward to further work by the Executive Board on elements of the new quota formula that can be improved before the formula is used again, and noted that this work should start before the 2009 Annual Meetings.

Development Cooperation in Times of Crisis

Author : José Antonio Alonso,José Antonio Ocampo
Publisher : Columbia University Press
Page : 385 pages
File Size : 55,8 Mb
Release : 2012-07-17
Category : Business & Economics
ISBN : 9780231504393

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Development Cooperation in Times of Crisis by José Antonio Alonso,José Antonio Ocampo Pdf

Leading governments undertook extraordinary measures to offset the 2008 economic crisis, shoring up financial institutions, stimulating demand to reverse recession, and rebalancing budgets to alleviate sovereign debt. While productive in and of themselves, these solutions were effective because they were coordinated internationally and were matched with sweeping global financial reforms. Unfortunately, coordination has weakened after these initial steps, indicating one of the crisis's adverse effects will be a significant reduction in development cooperation. Urging advanced nations to improve their support for development, the contributors to this volume revisit the causes of the 2008 collapse and the ongoing effects of recession on global and developing economies. They reevaluate the international response to crisis and suggest more effective approaches to development cooperation. Experts on international aid join together to redesign the cooperation system and its governance, so it can accept new actors and better achieve the Millennial Development Goals of 2015 within the context of severe global crisis. In their introduction, José Antonio Alonso and José Antonio Ocampo summarize different chapters and the implications of their analyses, concluding with a frank assessment of global economic imbalance and the ability of increased cooperation to rectify these inequalities.

Time for a Visible Hand

Author : Stephany Griffith-Jones,José Antonio Ocampo,Joseph E. Stiglitz
Publisher : OUP Oxford
Page : 384 pages
File Size : 43,5 Mb
Release : 2010-01-14
Category : Business & Economics
ISBN : 9780191610424

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Time for a Visible Hand by Stephany Griffith-Jones,José Antonio Ocampo,Joseph E. Stiglitz Pdf

The financial crisis, which originated in developed country financial markets, quickly spread to developing countries. Governments and central banksthough taking many and costly measures were powerless to stop the global economic meltdown, as economies across the globe went into recession. The depth of the financial crisis means that the world economy is in unchartered territory. How do we restore robust growth and prevent another crisis? This book aims to systematically understand current major problems in the financial system, its governance, and in its links to global economic imbalances. It explains how both market actors and regulators behavior, and the prevailing ideology of extreme financial liberalization and deregulation, contributed to the financial crisis. This highly topical book focuses on the transparency and regulatory measures that are necessary to restore confidence in the financial system, to ensure that the financial system performs the roles that it should perform within both developing and developed countries, and to make a recurrence less likely. The book also describes reforms in the global financial architecture that might make the global financial system more stable and more equitable. The book presents sometimes radical, but specific, pragmatic, and politically feasible proposals to try to ensure a more stable, equitable, and growing world economy. Contributions come from both developed and developing countries and are written by leading authorities in their field, including senior nationalas well as internationalpolicy makers, practitioners from the private sector, and leading academics.