The Fund S Financing Role Reform Proposals On Liquidity And Emergency Assistance

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The Fund's Financing Role - Reform Proposals on Liquidity and Emergency Assistance

International Monetary Fund. Finance Dept.,International Monetary Fund. Independent Evaluation Office,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Legal Dept.
The Fund s Financing Role Reform Proposals on Liquidity and Emergency Assistance Book PDF

Author : International Monetary Fund. Finance Dept.,International Monetary Fund. Independent Evaluation Office,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Legal Dept.
Publisher : International Monetary Fund
Page : 21 pages
File Size : 51,7 Mb
Release : 2011-10-28
Category : Business & Economics
ISBN : 9781498338332

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The Fund's Financing Role - Reform Proposals on Liquidity and Emergency Assistance by International Monetary Fund. Finance Dept.,International Monetary Fund. Independent Evaluation Office,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Legal Dept. Pdf

The possible global repercussions from the ongoing turmoil in the Euro Area and recent calls for enhanced emergency assistance in the Middle East and North African region are reminders of the urgent need for a more effective global financial safety net to deal with increased interconnectedness and volatility. Past work by staff identified gaps in the Fund’s lending toolkit to respond to liquidity needs of members with relatively strong fundamentals affected during systemic crises (the crisis bystanders), and to address urgent financing needs arising in a broader range of circumstances than natural disasters and post-conflict situations. The companion paper on the Review of the Flexible Credit Line (FCL) and Precautionary Credit Line (PCL) also identified gaps in the overall flexibility of the financing toolkit. This paper provides proposals to fill these gaps, while preserving the simplicity and coherence of the lending framework, and balancing members’ financing needs against the need for adequate safeguards for the use of Fund resources.

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

International Monetary Fund. Legal Dept.,International Monetary Fund. Monetary and Capital Markets Department
The Fund s Mandate The Future Financing Role Reform Proposals Book PDF

Author : International Monetary Fund. Legal Dept.,International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 34 pages
File Size : 53,5 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.

The Fund’s Mandate—Future Financing Role

International Monetary Fund. Monetary and Capital Markets Department
The Fund s Mandate Future Financing Role Book PDF

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 35 pages
File Size : 48,9 Mb
Release : 2010-04-19
Category : Business & Economics
ISBN : 9781498337595

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The Fund’s Mandate—Future Financing Role by International Monetary Fund. Monetary and Capital Markets Department Pdf

The following is the provisional agenda for the Twenty-First Meeting of the International Monetary and Financial Committee, which is to be convened at the Fund’s Headquarters in Washington, D.C. on Saturday, April 24, 2010. A joint working dinner of IMFC members and G-20 ministers will be held on Friday, April 23 at 7:30 p.m. in HQ1–Meeting Halls A & B. The IMFC meeting will be followed by the press conference of the IMFC Chairman and the Managing Director at 2:30 p.m.

Precautionary and Liquidity Line—Operational Guidance Note

International Monetary Fund. Strategy, Policy, & Review Department
Precautionary and Liquidity Line Operational Guidance Note Book PDF

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 31 pages
File Size : 52,7 Mb
Release : 2012-05-31
Category : Business & Economics
ISBN : 9781498340526

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Precautionary and Liquidity Line—Operational Guidance Note by International Monetary Fund. Strategy, Policy, & Review Department Pdf

The Precautionary and Liquidity Line (PLL) was introduced in the context of the Board discussion on the Fund's Financing Role: Reform Proposals on Liquidity and Emergency Assistance in November 2011, replacing and broadening the scope of the previously established Precautionary Credit Line (PCL). The following note provides operational guidance to staff and further background information on the PLL. SPR (the Emerging Markets Division), FIN, and LEG stand ready to clarify any further questions that departments may have on the PLL

The Fund’s Mandate - The Future Financing Role - Revised Reform Proposals and Revised Proposed Decisions

International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Strategy, Policy, & Review Department
The Fund s Mandate The Future Financing Role Revised Reform Proposals and Revised Proposed Decisions Book PDF

Author : International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 13 pages
File Size : 46,5 Mb
Release : 2010-08-25
Category : Business & Economics
ISBN : 9781498336963

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The Fund’s Mandate - The Future Financing Role - Revised Reform Proposals and Revised Proposed Decisions by International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Strategy, Policy, & Review Department Pdf

This supplement provides clarifications and proposes revision to the reforms of the nonconcessional lending toolkit contained in the staff papers on “The Fund’s Mandate—Future Financing Role: Reform Proposals”. The focus of this supplement is on the Flexible Credit Line (FCL) and the Precautionary Credit Line (PCL), for which revised proposed decisions are attached.

Review of the Fund's Financing Role in Member Countries

International Monetary Fund. Policy Development and Review Dept.,International Monetary Fund. Strategy, Policy, & Review Department
Review of the Fund s Financing Role in Member Countries Book PDF

Author : International Monetary Fund. Policy Development and Review Dept.,International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 23 pages
File Size : 42,9 Mb
Release : 2008-08-28
Category : Business & Economics
ISBN : 9781498334327

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Review of the Fund's Financing Role in Member Countries by International Monetary Fund. Policy Development and Review Dept.,International Monetary Fund. Strategy, Policy, & Review Department Pdf

This paper raises and discusses issues related to how the Fund provides financial assistance to its members. It is part of the strategic review to ensure the Fund remains relevant and effective. The objective is not to increase Fund lending, but to make sure the Fund has the right instruments and policies to help all of its members—with appropriate protection of Fund resources—as they integrate into a world of growing and increasingly complex cross-border flows. Other institutions (including major central banks and the World Bank) also are retooling their lending instruments and in the process grappling with similar issues. The paper offers a high-level view of the issues and does not make specific policy proposals. Policy proposals will be presented in follow-up papers, some of which are planned for Board discussion later in 2008.

GRA Lending Toolkit and Conditionality-Reform Proposals

International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Strategy, Policy, & Review Department
GRA Lending Toolkit and Conditionality Reform Proposals Book PDF

Author : International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 51 pages
File Size : 54,7 Mb
Release : 2009-03-13
Category : Business & Economics
ISBN : 9781498336178

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GRA Lending Toolkit and Conditionality-Reform Proposals by International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Strategy, Policy, & Review Department Pdf

The Executive Board of the International Monetary Fund (IMF) considered a series of papers to reform the Fund's nonconcessional lending framework. This culminated in the approval of a major overhaul of the IMF’s lending framework, including the creation of a new Flexible Credit Line (FCL). The changes to the IMF’s lending framework which are described in GRA Lending Toolkit and Conditionality—Reform Proposalsand GRA Lending Toolkit and Conditionality—Reform Proposals—Revised Proposed Decisions include: • modernizing IMF conditionality for all borrowers, • introducing a new Flexible Credit Line, • enhancing the flexibility of the Fund’s traditional stand-by arrangement, • doubling normal access limits for nonconessional resources, • simplifying cost and maturity structures, and • eliminating certain seldom-used facilities. The series of papers are: Review of Fund Facilities—Analytical Basis for Fund Lending and Reform Options, Conditionality in fund-Supported Programs—Purposes, Modalities and Options for Reform, Charges and Maturities and Proposals for Reform, Supplement 1 and Supplement 2, Review of Fund Facilities—Analytical Basis for Fund Lending and Reform Options, and Review of Limits on Access to Financing in the Credit Tranches and Under the Extended Fund Facility, and Overall Access Limits Under the General Resources Account provide the background on the earlier discussion of reforms in each of these areas.

Precautionary and Liquidity Line - Operational Guidance Note

International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.
Precautionary and Liquidity Line Operational Guidance Note Book PDF

Author : International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.
Publisher : International Monetary Fund
Page : 51 pages
File Size : 47,6 Mb
Release : 2018-08-06
Category : Business & Economics
ISBN : 9781498309431

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Precautionary and Liquidity Line - Operational Guidance Note by International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept. Pdf

"This note provides general guidance on the use of the Precautionary and Liquidity Line (PLL). After an overview of the instrument, explaining its specific nature, the operational issues are grouped into five areas: • an outline of the process and specific steps that need to be followed if a member expresses interest in an arrangement; • guidance on access, phasing, and purchases; • guidance on determining qualification of a member and appropriate ex-post conditionality; and • a guide to the semi-annual review process. The note is an aid to the implementation of the policy and its underlying principles. If there is any instance in which a provision of the guidance note or its implementation conflicts with Board policy, Board policy prevails. It will be revised as needed, for example following relevant policy reviews."

The Lender of Last Resort Function after the Global Financial Crisis

Marc Dobler,Mr.Simon Gray,Diarmuid Murphy,Bozena Radzewicz-Bak
The Lender of Last Resort Function after the Global Financial Crisis Book PDF

Author : Marc Dobler,Mr.Simon Gray,Diarmuid Murphy,Bozena Radzewicz-Bak
Publisher : International Monetary Fund
Page : 63 pages
File Size : 42,7 Mb
Release : 2016-01-22
Category : Business & Economics
ISBN : 9781513567785

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The Lender of Last Resort Function after the Global Financial Crisis by Marc Dobler,Mr.Simon Gray,Diarmuid Murphy,Bozena Radzewicz-Bak Pdf

The global financial crisis (GFC) has renewed interest in emergency liquidity support (sometimes referred to as “Lender of Last Resort”) provided by central banks to financial institutions and challenged the traditional way of conducting these operations. Despite a vast literature on the topic, central bank approaches and practices vary considerably. In this paper we focus on, for the most part, the provision of idiosyncratic support, approaching it from an operational perspective; highlighting different approaches adopted by central banks; and also identifying some of the issues that arose during the GFC.

Flexible Credit Line—Operational Guidance Note

International Monetary Fund. Strategy, Policy, & Review Department
Flexible Credit Line Operational Guidance Note Book PDF

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 32 pages
File Size : 52,7 Mb
Release : 2012-05-31
Category : Business & Economics
ISBN : 9781498340489

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Flexible Credit Line—Operational Guidance Note by International Monetary Fund. Strategy, Policy, & Review Department Pdf

The Flexible Credit Line (FCL) was introduced as part of a package of reforms to the Fund’s lending facilities in March 2009 and its design was further refined in August 2010. The following provides operational guidance and further background information on the FCL. SPR (the Emerging Markets Division), FIN, and LEG stand ready to clarify any further questions departments may have on the FCL or other aspects of the reforms to lending and conditionality.

Enhancing the Emergency Financing Toolkit—Responding To The COVID-19 Pandemic

International Monetary Fund
Enhancing the Emergency Financing Toolkit Responding To The COVID 19 Pandemic Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 18 pages
File Size : 46,9 Mb
Release : 2020-04-09
Category : Business & Economics
ISBN : 9781513540160

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Enhancing the Emergency Financing Toolkit—Responding To The COVID-19 Pandemic by International Monetary Fund Pdf

The COVID-19 pandemic is taking a human toll and has unleashed a series of shocks on the Fund’s entire membership, creating severe disruption in the global economic and financial system. As a result, many emerging market and developing country (EMDC) members face urgent and unprecedented financing needs, creating significant immediate demand for Fund resources. In order to respond to members’ large and urgent financing needs, the paper proposes to enhance the Fund’s emergency financing toolkit, through a temporary increase in access limits for both the Rapid Financing Instrument (RFI), available to all members, and the Rapid Credit Facility (RCF), available to Poverty Reduction Growth Trust-eligible members only. It is proposed to increase these access limits for a proposed period of six months, which may be extended by the Executive Board. A companion Board paper sets out proposals to accelerate Board consideration of member requests for financing under the RCF and RFI, completion of reviews and requests for changes in access in existing arrangements, and requests for grant assistance under the Catastrophe Containment and Relief Trust.

Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument

International Monetary Fund
Review of the Flexible Credit Line the Precautionary and Liquidity Line and the Rapid Financing Instrument Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 50 pages
File Size : 46,6 Mb
Release : 2014-01-28
Category : Business & Economics
ISBN : 9781498343800

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Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument by International Monetary Fund Pdf

This review of the Flexible Credit Line (FCL), the Precautionary and Liquidity Line (PLL), and the Rapid Financing Instrument (RFI) focuses on four key issues: (i) the demand for the FCL and PLL in the context of the broader role of the Fund’s lending (including precautionary) instruments in the global financial safety net (GFSN); (ii) the qualification/conditionality framework for the FCL and the PLL; (iii) concerns about repeated usage of FCL arrangements by the same members and consideration of ways to further improve the transparency in the discussion of access/exit in the underlying staff documents; and (iv) the lack of demand for the RFI.

Selected Decisions and Selected Documents of the International Monetary Fund, Thirty-Sixth Issue

International Monetary Fund
Selected Decisions and Selected Documents of the International Monetary Fund Thirty Sixth Issue Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 1074 pages
File Size : 40,6 Mb
Release : 2012-06-30
Category : Business & Economics
ISBN : 9781475549713

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Selected Decisions and Selected Documents of the International Monetary Fund, Thirty-Sixth Issue by International Monetary Fund Pdf

The Thirty-Sixth Issue of Selected Decisions and Selected Documents of the International Monetary Fund includes decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the IMF, as well as selected documents relevant to the current activities of the Fund.

Selected Decisions and Selected Documents of the International Monetary Fund, Thirty-Seventh Issue

International Monetary Fund. Legal Dept.
Selected Decisions and Selected Documents of the International Monetary Fund Thirty Seventh Issue Book PDF

Author : International Monetary Fund. Legal Dept.
Publisher : International Monetary Fund
Page : 1088 pages
File Size : 40,8 Mb
Release : 2014-12-23
Category : Business & Economics
ISBN : 9781498302852

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Selected Decisions and Selected Documents of the International Monetary Fund, Thirty-Seventh Issue by International Monetary Fund. Legal Dept. Pdf

The Thirty-Seventh Issue of Selected Decisions and Selected Documents of the International Monetary Fund includes decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the International Monetary Fund, as well as selected documents to which frequent reference is made in the current activities of the Fund. In addition, it includes documents relating to the IMF, the United Nations, and other international organizations.

Handbook of IMF Facilities for Low-Income Countries

International Monetary Fund
Handbook of IMF Facilities for Low Income Countries Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 168 pages
File Size : 46,8 Mb
Release : 2012-03-21
Category : Business & Economics
ISBN : 9781498340755

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Handbook of IMF Facilities for Low-Income Countries by International Monetary Fund Pdf

The Fund’s concessional facilities are aimed at providing flexible and tailored support to low-income countries (LICs) in their efforts to achieve, maintain, or restore a stable and sustainable macroeconomic position consistent with strong and durable poverty reduction and growth.