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Executive Board Report To The Imfc On Quota And Governance Reforms
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Book Synopsis Executive Board Report to the IMFC on Quota and Governance Reforms by : International Monetary Fund
Download or read book Executive Board Report to the IMFC on Quota and Governance Reforms written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-07-10 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the IMFC last met in April, the Executive Board has taken up the full range of quota and other governance reforms. While there has been some movement on the many complex issues, discussions have been inconclusive, and no proposal has been able to command broad support. The concluding remarks that sum up these meetings lay out the various positions taken by members of the Board (attached). The debate is continuing, and we hope to make progress on finding the possible elements of a compromise acceptable to the membership.
Book Synopsis Executive Board Report to the IMFC on Reform of Fund Governance by : International Monetary Fund
Download or read book Executive Board Report to the IMFC on Reform of Fund Governance written by International Monetary Fund and published by International Monetary Fund. This book was released on 2009-03-10 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper responds to the request in the April 2009 IMFC communiqué for the Executive Board to report on governance reform. The current crisis has shown that the Fund’s decision-making structures can deliver the kind of innovative and rapid responses the membership needs and expects. Even so, there is an undercurrent of doubt about the future, reflecting the perception that much of the recent responsiveness has been driven by outside forces (e.g., the G-20) and that, once the crisis fades, old dissatisfactions with vote, voice and process will resurface to undermine the political backing that has been key to the Fund’s renewal. Hence, the IMFC’s interest in reforms to underpin the institution’s legitimacy and effectiveness is important and timely. This report focuses on five areas: fair quota share; high-level engagement; effective decision-making and representation at the Executive Board; open selection of management (and, more broadly, staff diversity); and updating of the Fund’s mandate.
Book Synopsis Executive Board Progress Report to the IMFC on the Reform of Fund Governance by : International Monetary Fund. Finance Dept.
Download or read book Executive Board Progress Report to the IMFC on the Reform of Fund Governance written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2010-06-22 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Executive Board Progress Report to the IMFC on the Fund's Mandate by : International Monetary Fund
Download or read book Executive Board Progress Report to the IMFC on the Fund's Mandate written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-06-10 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper responds to the IMFC call to review, in light of the crisis, the Fund’s mandate over macroeconomic and financial sector policies bearing on global stability. The crisis exposed weaknesses in economic oversight—national, regional, and global—prior to the crisis, prompting major institutional innovations to uncover risks and meet large and diverse financing needs. Despite progress, it still needs to be asked if the mandate in the Fund’s Articles is up to the challenges ahead. The Board’s deliberations, which are far from complete, have prompted it to emphasize practical steps to deliver on the Fund’s broad stability mandate, with any need to amend the Articles reconsidered in light of experience. The effectiveness of these steps will also depend on quota and governance reform, as confidence in the Fund as an impartial overseer of global stability and lender of last resort rests on its legitimacy.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498335829 Total Pages :40 pages Book Rating :4.4/5 (983 download)
Book Synopsis IMF Governance-Summary of Issues and Reform Options by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book IMF Governance-Summary of Issues and Reform Options written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2009-01-07 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper summarizes the main governance challenges and reform options facing the IMF, drawing together the analysis and reform proposals in the reports of the Eminent Persons Group (headed by Trevor Manuel), the IEO, and a range of other recent work on Fund governance. Lest the wide scope of these inputs result in a laundry list, judgment has been exercised in selecting key issues and proposals, and in laying out some of the pros and cons. With reform of quotas/voting power on a separate track, the focus here is on the institutional framework through which members express voting power, weaknesses in which are seen by many to have eroded the Fund’s legitimacy and effectiveness, thereby displacing the debate and initiative to outside entities. While an overall reform package would have to include quota shares, the key proposals discussed here aim to: increase political engagement and oversight; enhance Executive Board effectiveness and representation; modify voting rules; better delineate responsibilities; open up management selection; and tackle problems with mandate and institutional culture that limit the issues and approaches taken. Civil society has expressed a range of concerns related to IMF governance, including with regard to accountability at all levels (IMFC, Executive Board, management, and staff), mechanisms for responding to complaints and feedback from the broader public, and transparency. Given the diversity of their interests, and to provide unfiltered access to CSO views, the supplement: Fourth Pillar Recommendations from Civil Society; Preliminary Summary of Principles, Issues and Recommendations; has been prepared by CSO groups.
Book Synopsis IMF Quota and Governance Reform - Elements of an Agreement by : International Monetary Fund. Finance Dept.
Download or read book IMF Quota and Governance Reform - Elements of an Agreement written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2010-10-31 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper sets out, and seeks to make operational, a core package for the consideration of the Executive Board and, subsequently, the Board of Governors. The reforms would lead to a major overhaul of the Fund’s quotas and governance, strengthening the Fund’s legitimacy and effectiveness. The paper proposes completion of the 14th General Review of Quotas with a doubling of quotas and a major realignment of quota shares among members. It also covers proposals that would lead to a more representative, all-elected Executive Board.
Book Synopsis Interim Steps on Quota and Governance Reform - Report of the Executive Board to the Board of Governors by : International Monetary Fund
Download or read book Interim Steps on Quota and Governance Reform - Report of the Executive Board to the Board of Governors written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-06 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt: In light of continuing delays in the implementation of the 2010 quota and governance reforms (hereafter the “2010 Reforms”), the Board of Governors, in February 2015, adopted Resolution No. 70-1, which (i) expressed its deep regret that the quota increases under the Fourteenth General Review of Quotas (hereafter the “Fourteenth Review”) and the Proposed Amendment on the Reform of the Executive Board (hereafter the “Board Reform Amendment”) have not become effective, and that the Fifteenth General Review of Quotas (hereafter the “Fifteenth Review”) has not been completed; (ii) emphasized the importance and urgency of the 2010 Reforms for the Fund’s credibility, legitimacy, and effectiveness, and reiterated its commitment to their earliest possible implementation; (iii) urged the remaining members who have not yet accepted the Fourteenth Review quota increases and the Board Reform Amendment to do so without further delay; (iv) called for the completion of the Fifteenth Review by December 15, 2015; and (v) called on the Executive Board to work expeditiously and to complete its work as soon as possible on interim steps in the key areas covered by the 2010 Reforms, pending their full implementation, and thus to enable the Board of Governors to reach agreement on steps that represent meaningful progress towards the objectives of the 2010 Reforms by June 30, 2015.
Book Synopsis Power and Global Economic Institutions by : Ayse Kaya
Download or read book Power and Global Economic Institutions written by Ayse Kaya and published by Cambridge University Press. This book was released on 2015-11-19 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ayse Kaya analyses the relationship between states' economic power and their political power in key multilateral economic institutions.
Book Synopsis International Monetary Fund Annual Report 2016 Financial Statements by : International Monetary Fund
Download or read book International Monetary Fund Annual Report 2016 Financial Statements written by International Monetary Fund and published by International Monetary Fund. This book was released on 2016-09-27 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper outlines that the IMF is exposed to various types of operational and financial risks, including credit, market, liquidity, and income risks. The Executive Board of the IMF has overall responsibility for the establishment and oversight of the IMF’s risk management framework. The risk management framework encompasses primarily strategic, financial, and operational risks. As part of this framework, the Advisory Committee on Risk Management (ACRM) has been established to analyze, synthesize, and report on risks. Credit risk on credit outstanding refers to potential losses owing to the failure of member countries to make repurchases. Credit risk is inherent in the IMF's unique role in the international monetary system since the IMF has limited ability to diversify its loan portfolio and generally provides financing when other sources are not available to a member. Measures to help mitigate the IMF's credit risk include policies on access limits, program design, monitoring, and economic policies that members agree to follow as a condition for IMF financing; early repurchase policies; and preventative, precautionary, remedial measures and precautionary balances to cope with the financial consequences of protracted arrears.
Book Synopsis Fifteenth and Sixteenth General Reviews of Quotas—Report of the Executive Board to the Board of Governors by : International Monetary Fund. Finance Dept.
Download or read book Fifteenth and Sixteenth General Reviews of Quotas—Report of the Executive Board to the Board of Governors written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2020-02-13 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: On January 16, 2020, the Executive Board adopted a Report to the Board of Governors proposing that the Board of Governors adopt a Resolution concluding the Fifteenth General Review of Quotas with no increase in quotas and providing guidance for the Sixteenth General Review of Quotas in line with the IMFC guidance in the October 19, 2019 Communiqué. The Resolution was adopted by the Board of Governors, effective February 7, 2020, and was designated No. 75-1.
Book Synopsis Independent Evaluation at the IMF by : Ruben Lamdany
Download or read book Independent Evaluation at the IMF written by Ruben Lamdany and published by International Monetary Fund. This book was released on 2012-12-24 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines how independent evaluation contributes to the legitimacy and effectiveness of the IMF. It describes the evolution and impact of the Independent Evaluation Office ten years after its creation as well as the challenges it has faced. It also incorporates feedback from a wide range of internal and external actors and offers useful insights for international organizations, academics, and other global stakeholders.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498337767 Total Pages :150 pages Book Rating :4.4/5 (983 download)
Book Synopsis Fourteenth General Review of Quotas - Realigning Quota Shares - Initial Considerations by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Fourteenth General Review of Quotas - Realigning Quota Shares - Initial Considerations written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2010-03-24 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis International Monetary Fund Annual Report 2007 by : International Monetary Fund
Download or read book International Monetary Fund Annual Report 2007 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2007-10-17 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Annual Report 2007 to the Board of Governors reviews the IMF’s activities and policies during the financial year (May 1, 2006, through April 30, 2007). This year’s Report has been streamlined and translated into three more languages than in the past: Arabic, Japanese, and Russian. Besides an Overview, the chapters cover promoting financial and macroeconomic stability and growth through surveillance; program support; capacity building; technical assistance and training; and the IMF’s governance, organization, and finances. The full financial statements for the year and other appendixes are provided on a CD-ROM.
Book Synopsis IMF Governance Reform by : International Monetary Fund. Finance Dept.
Download or read book IMF Governance Reform written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2010-08-17 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews progress under the Fund’s strengthened cooperative strategy on overdue financial obligations. Since the last review, total arrears to the Fund declined by SDR 17.5 million to SDR 1,309.5 million. Payments to the Fund by Sudan and Zimbabwe were in excess of new obligations falling due, and a decrease in Somalia’s arrears resulted from the full settlement of its overdue obligations to the SDR Department in the context of the general SDR allocation in August 2009.
Book Synopsis Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - May 24, 2010 by : International Monetary Fund. Finance Dept.
Download or read book Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - May 24, 2010 written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2010-06-07 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report by the external panel of experts (“the panel”) examines the effectiveness and appropriateness of the safeguards policy over the ten years since the inception of the policy, and most particularly in the five years since its last review. Furthermore, the panel, drawing on its research and experience, aims to establish a course for the Executive Board to consider that would help the safeguards policy continually improve, adapt to changing world conditions, and remain viable and relevant for the next decade. In gathering data to form its opinion, the panel (i) consulted with stakeholders in the policy (including central bank authorities, IMF Executive Directors’ offices, Fund and World Bank staff, and international audit firms), (ii) examined safeguards and other Fund-specific documents, and (iii) researched international reference materials.
Book Synopsis Outcome of the Quota Formula Review - Report of the Executive Board to the Board of Governors by : International Monetary Fund
Download or read book Outcome of the Quota Formula Review - Report of the Executive Board to the Board of Governors written by International Monetary Fund and published by International Monetary Fund. This book was released on 2013-01-30 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: In completing the Fourteenth General Review of Quotas and approving the Proposed Amendment on the Reform of the Executive Board, the Board of Governors requested that the Executive Board complete a comprehensive review of the quota formula by January 2013. The Executive Board was also requested to bring forward the timetable for completion of the Fifteenth General Review of Quotas (hereafter the 15th Review) to January 2014.
Book Synopsis Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - June 3, 2009 by : International Monetary Fund
Download or read book Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - June 3, 2009 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2009-03-06 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Against the backdrop of a global economic crisis, the IMFC has underscored the Fund’s central role in responding to its membership’s needs and restoring prosperity and financial stability. The Fund has acted with alacrity—by overhauling its lending framework; mobilizing strong support and firm pledges toward a tripling of its resources; and continuing to strengthen the quality of its surveillance. The work program is heavy, reflecting the responsibilities assigned to the Fund by the international community and the needs of our membership.
