The Imf And Fragile States

Author : Ralph Chami,Raphael Espinoza,Peter J. Montiel
Publisher : Oxford University Press
Page : 496 pages
File Size : 51,6 Mb
Release : 2021-01-26
Category : Business & Economics
ISBN : 9780192594549

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Macroeconomic Policy in Fragile States by Ralph Chami,Raphael Espinoza,Peter J. Montiel Pdf

Setting macroeconomic policy is especially difficult in fragile states. Political legitimacy concerns are heightened, raising issues such as who the policymakers are, what incentives they face, and how the process of policymaking is likely to work under limited legitimacy and high uncertainty both about the macroeconomic environment as well as policy effectiveness. In addition, fragility expands the range of policy objectives in ways that may constrain the attainment of standard macroeconomic objectives. Specifically, in the context of fragility policymakers also need to focus on measures to mitigate fragility itself - i.e., they need to address issues such as regional and ethnic economic disparities, youth unemployment, and food price inflation. Socio-political developments around the world have thus pushed policymakers to broaden their toolkit to improve the effectiveness of macroeconomic management in the face of these constraints. The chapters in Macroeconomic Policy in Fragile States address these issues, both by giving an analytical context from which policymakers can build to answer the questions they face in fragile situations as well as by providing lessons drawn from empirical analyses and case studies. The first section of the volume discusses the interactions between political economy considerations and macroeconomic policymaking. The second section covers the private sector environment in fragile states. The third section focuses on macroeconomic policy, especially fiscal policy, monetary policy, exchange rate policy, external flows, and aid effectiveness. The last section explains the role of the IMF in fragile states and concludes by presenting case studies from the Middle East and from Sub-Saharan Africa. The contributors to the volume are economists and political scientists from academia as well as policymakers from international organizations and from countries affected by fragility.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 63 pages
File Size : 40,6 Mb
Release : 2022-03-14
Category : Business & Economics
ISBN : 9798400201820

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The IMF Strategy for Fragile and Conflict-Affected States by International Monetary Fund Pdf

This paper proposes a comprehensive Strategy to strengthen IMF support to FCS in accordance with the Fund’s mandate and comparative advantage. The Strategy is a response to the Board-endorsed recommendations of the 2018 Independent Evaluation Office (IEO) Report on The IMF and Fragile States. To achieve these goals, the Strategy will benefit from additional resources reflected in the FY23-25 Medium-Term Budget, as per the budget augmentation framework discussed by the Board in December 2021. The Strategy also provides measures to better support staff working on FCS. Given the inherent risks in FCS engagement, the Strategy will be phased in starting in FY22, with implementation gradually accelerating between FY23-FY25.

Author : International Monetary Fund. Independent Evaluation Office
Publisher : International Monetary Fund
Page : 84 pages
File Size : 46,7 Mb
Release : 2018-04-13
Category : Business & Economics
ISBN : 9781484347324

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IMF and Fragile States by International Monetary Fund. Independent Evaluation Office Pdf

This evaluation assesses the IMF’s work on countries in fragile and conflict-affected situations (FCS), addressing both (i) its engagement through surveillance, lending, and capacity development and (ii) the frameworks and procedures for its engagement. It finds that the IMF has provided unique and essential services to FCS to restore macroeconomic stability and rebuild core macroeconomic institutions as prerequisites for state building, playing a role in which no other institution can take its place. In this critical role, it is broadly acknowledged to have had a high impact. While the IMF has provided relatively little direct financing, it has catalyzed donor support through its assessment of a country’s economic policies and prospects. Notwithstanding this positive assessment, the IMF’s overall approach to its FCS work seems to have been conflicted. Not only has it failed consistently to make hard choices necessary to achieve full impact from its engagement in countries where success requires patient and dedicated attention over the long haul, but past efforts have not been sufficiently bold or adequately sustained, and the staff has tended to revert to treating fragile states using IMF-wide norms, rather than as countries needing special attention. The report proposes six recommendations to improve the effectiveness of the IMF’s FCS work: (i) to issue a statement of high-level commitment to FCS work for IMFC endorsement; (ii) to create an effective institutional mechanism with the mandate and authority to coordinate and champion such work; (iii) to develop comprehensive strategies for individual FCS; (iv) to adapt its lending toolkit to deliver more sustained financial support to FCS; (v) to take practical steps to increase the impact of its capacity development support to FCS; and (vi) to take steps to incentivize high-quality and experienced staff to work on individual FCS and find pragmatic ways of increasing field presence in high risk locations.

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 45 pages
File Size : 55,9 Mb
Release : 2017-06-14
Category : Business & Economics
ISBN : 9781484303733

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Multi-Country Report by International Monetary Fund. Fiscal Affairs Dept. Pdf

This paper provides background information for the IMF Board paper on “Building Fiscal Capacity in Fragile States (FS).” It presents case studies on IMF technical assistance (TA) and capacity development in the fiscal area, provided by its Fiscal Affairs Department (FAD), in collaboration with the Legal Department, in the following countries: Afghanistan, Haiti, Kosovo, Liberia, Mali, Myanmar, South Sudan, and Timor-Leste.

Author : Mr.Enrique Gelbard,Corinne Deléchat,Ms.Ejona Fuli,Mr.Mumtaz Hussain,Mr.Ulrich Jacoby,Mrs.Dafina Glaser,Mr.Marco Pani,Mr.Gustavo Ramirez,Rui Xu
Publisher : International Monetary Fund
Page : 99 pages
File Size : 42,9 Mb
Release : 2015-06-25
Category : Business & Economics
ISBN : 9781513550015

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Building Resilience in Sub-Saharan Africa's Fragile States by Mr.Enrique Gelbard,Corinne Deléchat,Ms.Ejona Fuli,Mr.Mumtaz Hussain,Mr.Ulrich Jacoby,Mrs.Dafina Glaser,Mr.Marco Pani,Mr.Gustavo Ramirez,Rui Xu Pdf

This paper analyzes the persistence of fragility in some sub-Saharan African states and the multiple dimensions of state weakness that are simultaneously at play. This study also provides an overview of the analytics of fragility, conflict, and international engagement with fragile states before turning to an assessment of the current state of affairs and the areas in which there has been progress in building resilience. The paper also looks at the role of fiscal policies and institutions and analyzes growth accelerations and decelerations. Seven country case studies help identify more concretely some key factors at play, and the diversity of paths followed, with an emphasis on the sequencing of reforms. The paper concludes with a summary of the main findings and policy implications.

Author : Ralph Chami,Raphael Espinoza,Fairleigh S Dickinson Jr '41 Professor of Economics Peter J Montiel,Peter J. Montiel
Publisher : Oxford University Press, USA
Page : 689 pages
File Size : 42,8 Mb
Release : 2021-01-26
Category : Business & Economics
ISBN : 9780198853091

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Macroeconomic Policy in Fragile States by Ralph Chami,Raphael Espinoza,Fairleigh S Dickinson Jr '41 Professor of Economics Peter J Montiel,Peter J. Montiel Pdf

Setting macroeconomic policy is especially difficult in fragile states. Macroeconomic Policy in Fragile States addresses the many issues involved and considers ways to improve the effectiveness of macroeconomic management in the face of these constraints.

Author : Anonim
Publisher : Unknown
Page : 69 pages
File Size : 41,7 Mb
Release : 2018
Category : Financial risk
ISBN : OCLC:1038065061

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The IMF and Fragile States by Anonim Pdf

Author : Olusegun Ayodele Akanbi,Nikolay Gueorguiev,Mr. Jiro Honda,Paulomi Mehta,Mr. Kenji Moriyama,Keyra Primus,Mouhamadou Sy
Publisher : International Monetary Fund
Page : 48 pages
File Size : 49,9 Mb
Release : 2021-05-06
Category : Business & Economics
ISBN : 9781513573687

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Avoid a Fall Or Fly Again: Turning Points of State Fragility by Olusegun Ayodele Akanbi,Nikolay Gueorguiev,Mr. Jiro Honda,Paulomi Mehta,Mr. Kenji Moriyama,Keyra Primus,Mouhamadou Sy Pdf

High persistence of state fragility (a fragility trap) suggests the presence of substantial benefits from avoiding a fall into fragility and considerable hurdles to successful exit from fragility. This paper empirically examines the factors that affect the turning points of entering and exiting from state fragility by employing three different approaches: an event study, the synthetic control method, and a logit model. We find that avoiding economic contraction is critical to prevent a country on the brink of fragility from falling into fragility (e.g., among near fragile countries, the probability of entering fragility would rise by 40 percentage points should real GDP per capita growth decline from +2.5 percent to -2.5 percent). Also, strengthening government effectiveness together with increasing political inclusion and maintaining robust economic activity should help make exit from fragility more successful and sustainable. In the current environment (the COVID-19 crisis and its aftermath), the findings suggest the importance of providing well-directed fiscal stimulus with sufficient financing, (subject to appropriate governance safeguards and well-designed policies), and protecting critical socio-economic spending to keep vulnerable countries away from being caught in a fragility trap.

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 64 pages
File Size : 45,7 Mb
Release : 2017-06-14
Category : Business & Economics
ISBN : 9781498346726

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Building Fiscal Capacity in Fragile States by International Monetary Fund. Fiscal Affairs Dept. Pdf

The paper draws on recent country experience to describe the approach to designing and implementing fiscal reforms in fragile states (FS) taken in the IMF’s technical assistance (TA). In doing so, it highlights how the TA that the IMF provides to FS differs from that of non-FS, describes the trends in and modalities of TA delivery, and draws on recent experiences to derive lessons for future work.

Author : Wim Naudé,Amelia U. Santos-Paulino,Mark McGillivray
Publisher : OUP Oxford
Page : 232 pages
File Size : 55,6 Mb
Release : 2011-08-25
Category : Business & Economics
ISBN : 9780191619649

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Fragile States by Wim Naudé,Amelia U. Santos-Paulino,Mark McGillivray Pdf

Overcoming state fragility is one of the most important international development objectives of the 21st century. Many fragile states have turned into failed states, where millions of people are caught in deprivation and seemingly hopeless conditions. Fragile states lack the authority, legitimacy, and capacity that a modern state needs to advance the development of its peoples, and present deep challenges for the design and implementation of development policy. For instance, how is aid to be designed and delivered in a way that will help people in fragile states if their governments lack capacity to absorb and use aid? And what can be done about adverse side-effects of fragile states on their neighbours and the global community, such as heightened insecurity, rising out-migration, displaced populations, and the destruction of natural resources? This book documents the far reaching global repercussions of state fragility and provides a timely contribution to the international discourse on three dimensions of fragile states: their causes, costs, and the responses required. It will appeal to scholars, policymakers, and donors who are concerned about conflict and development. Its aim is to contribute to our understanding of how strong and accountable states can be fostered-states where government and civil society progressively advance human wellbeing, underpin households' resilience in the face of shocks, and form effective partnerships to maximize the benefits of development assistance.

Author : International Monetary
Publisher : International Monetary Fund
Page : 85 pages
File Size : 43,7 Mb
Release : 2023-03-22
Category : Electronic
ISBN : 9798400235337

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Staff Guidance Note on the Implementation of the IMF Strategy for Fragile and Conflict-Affected States (FCS) by International Monetary Pdf

This note provides operational advice and information to help staff implement the IMF Strategy for Fragile and Conflict-Affected States (FCS) approved by the Executive Board on March 9, 2022. Topics covered include (i) the new IMF FCS classification methodology, which is aligned with that of the World Bank; (ii) the preparation of Country Engagement Strategies (CES) that will be rolled out across FCS to ensure that Fund engagement is appropriately tailored to country-specific manifestations of fragility and/or conflict; (iii) advice on tailoring the thematic focus of Article IV consultations and Fund analytics to FCS, as well as on the prioritization, design, and implementation of capacity development (CD) projects in fragile contexts; (iv) guidance on making full use of the flexibilities of the lending toolkit; (v) guidance on engaging in specific FCS situations, including building accountable institutions to exit fragility, cases of rising fragility risks, active conflict, post-conflict, and addressing the impact of external shocks and spillovers; and (v) strengthening partnerships with humanitarian, development, and peace actors, in accordance with the Fund's mandate. Dedicated annexes provide additional information on the CES process, addressing good governance in FCS, program design, and country examples of Fund engagement in FCS.

Author : Mario Mansour,Mr.Jean-Luc Schneider
Publisher : International Monetary Fund
Page : 29 pages
File Size : 47,5 Mb
Release : 2019-09-20
Category : Business & Economics
ISBN : 9781513508153

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How to Design Tax Policy in Fragile States by Mario Mansour,Mr.Jean-Luc Schneider Pdf

The purpose of this note is to provide a framework for improving tax policy design in fragile and conflict-affected states, which face political and institutional constraints. This note begins with an overview of experiences in revenue mobilization in fragile states, including relative to other country groups—in particular, nonfragile states and formerly fragile states; that is, countries that exited fragility during the period under study. A discussion follows of how the principles of tax policy design should be applied in fragile states, particularly the relative importance of the revenue objective vis-à-vis other objectives, such as equity and efficiency. The two sections that follow provide guidance on tax policy design in the emergency and consolidation phases, respectively, and discuss how governments can use tax policy to transition from one phase to another, eventually overcoming fragility. The note concludes with key lessons and a set of guiding principles for tax reform in fragile states.

Author : OECD
Publisher : OECD Publishing
Page : 190 pages
File Size : 53,5 Mb
Release : 2010-11-04
Category : Electronic
ISBN : 9789264092198

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Conflict and Fragility Resource Flows to Fragile and Conflict-Affected States by OECD Pdf

This report serves as a tool to better monitor the levels, timing and composition of resource flows to fragile states, and presents salient facts on aid flows to fragile states, the impact on fragile states of the three crises and the need for a whole-of-government response.

Author : Mario Mansour,Mr.Jean-Luc Schneider
Publisher : International Monetary Fund
Page : 29 pages
File Size : 50,8 Mb
Release : 2019-09-26
Category : Business & Economics
ISBN : 9781513515489

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How to Design Tax Policy in Fragile States by Mario Mansour,Mr.Jean-Luc Schneider Pdf

The purpose of this note is to provide a framework for improving tax policy design in fragile and conflict-affected states, which face political and institutional constraints. This note begins with an overview of experiences in revenue mobilization in fragile states, including relative to other country groups—in particular, nonfragile states and formerly fragile states; that is, countries that exited fragility during the period under study. A discussion follows of how the principles of tax policy design should be applied in fragile states, particularly the relative importance of the revenue objective vis-à-vis other objectives, such as equity and efficiency. The two sections that follow provide guidance on tax policy design in the emergency and consolidation phases, respectively, and discuss how governments can use tax policy to transition from one phase to another, eventually overcoming fragility. The note concludes with key lessons and a set of guiding principles for tax reform in fragile states.

Author : OECD
Publisher : OECD Publishing
Page : 100 pages
File Size : 44,5 Mb
Release : 2020-09-17
Category : Electronic
ISBN : 9789264985162

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States of Fragility 2020 by OECD Pdf

States of Fragility 2020 sets a policy agenda for fragility at a critical turning point: the final countdown on Agenda 2030 is at hand, and the pandemic has reversed hard-fought gains. This report examines fragility as a story in two parts: the global state of fragility that existed before COVID-19, and the dramatic impact the pandemic is having on that landscape.