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Review Of Exceptional Access Policy
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Book Synopsis Review of Exceptional Access Policy by : International Monetary Fund. Finance Dept.
Download or read book Review of Exceptional Access Policy written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2004-03-23 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Book Synopsis Review of Access Policy in the Credit Tranches, the Extended Fund Facility and the Poverty Reduction and Growth Facility, and Exceptional Access Policy by : International Monetary Fund. Legal Dept.
Download or read book Review of Access Policy in the Credit Tranches, the Extended Fund Facility and the Poverty Reduction and Growth Facility, and Exceptional Access Policy written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2005-03-14 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Section I of this paper contains a discussion of the purpose of access rules, and Section II examines the Fund’s liquidity position. Section III discusses the potential demand for Fund resources resulting from several possible shocks. Section IV considers recent trends in access decisions and evaluates how they have conformed to the principles underlying the access rules, and whether the Fund’s liquidity would be a constraint to providing similar access in the period ahead. Section V summarizes recent developments in exceptional access and discusses issues pertinent to policy in such cases. Section VI concludes with the list of staff recommendations and the issues for discussion. Draft decisions on access to GRA and PRGF resources are provided in Section VII.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498337821 Total Pages :7 pages Book Rating :4.4/5 (983 download)
Book Synopsis Ex Post Evaluations of Exceptional Access Arrangements—Revised Guidance Note by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Ex Post Evaluations of Exceptional Access Arrangements—Revised Guidance Note written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2010-03-18 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Executive Board has agreed that post-program monitoring (PPM), with formal involvement of the Board, could be useful in certain cases. Specifically, the Board has decided that when a member’s outstanding credit from the General Resources Account (GRA) of the Fund, or from the Fund as Trustee of the Poverty Reduction and Growth Trust (PRGT), or a combination thereof, exceeds a threshold of 200 percent of quota, and the member no longer has an arrangement or is not implementing a staff-monitored program with reports issued to the Board, there should be a presumption that the member will engage in PPM with the Fund of economic developments and policies after the expiration of the arrangement.
Book Synopsis Review of Access Policy in the Credit Tranches and Under the Extended Fund Facility and the Poverty Reduction and Growth Facility, and Exceptional Access Policy by : International Monetary Fund. Finance Dept.
Download or read book Review of Access Policy in the Credit Tranches and Under the Extended Fund Facility and the Poverty Reduction and Growth Facility, and Exceptional Access Policy written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2008-02-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the Fund’s access policy under its main financing facilities in the General Resources Account (GRA) and under the Poverty Reduction and Growth Facility (PRGF). It responds to the Board’s request for a periodic review of the access policy, that is, the rules and practices that govern the amount of financing the Fund makes available to its members.
Book Synopsis Review of Access Limits and Surcharge Policies by : International Monetary Fund. Finance Dept.
Download or read book Review of Access Limits and Surcharge Policies written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2016-01-20 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scope and strategy: This paper reviews access limits and surcharge policies in the Fund’s General Resources Account (GRA). It builds on the preliminary Executive Board discussion that took place in May 2014, against the backdrop of the 14th Review quotas expected to become effective early in 2016, which will on average double individual members’ quotas. At the meeting in 2014, most Directors considered that a moderate increase in normal access limits in SDR terms would broadly restore the normal Fund access to levels considered acceptable in 2009, and saw merit in adjusting the surcharge threshold to allow for a moderate increase in the SDR value of credit not subject to the charge.
Book Synopsis Review of Fund Facilities-Analytical Basis for Fund Lending and Reform Options by : International Monetary Fund. Legal Dept.
Download or read book Review of Fund Facilities-Analytical Basis for Fund Lending and Reform Options written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2009-06-02 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author :International Monetary Fund. Policy Development and Review Dept. Publisher :International Monetary Fund ISBN 13 :149833265X Total Pages :19 pages Book Rating :4.4/5 (983 download)
Book Synopsis Report on Access to Fund Resources During 2005 by : International Monetary Fund. Policy Development and Review Dept.
Download or read book Report on Access to Fund Resources During 2005 written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2006-04-20 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the context of a relatively benign international environment with limited balance of payments needs, recourse to Fund resources has declined across several dimensions: fewer GRA arrangements; lower outstanding Fund resources; and a smaller average access under new PRGF arrangements.
Author :International Monetary Fund. Policy Development and Review Dept. Publisher :International Monetary Fund ISBN 13 :1498329896 Total Pages :23 pages Book Rating :4.4/5 (983 download)
Book Synopsis Access Policy in Capital Account Crises - Modifications to the Supplemental Reserve Facility and Follow-Up Issues Related to Exceptional Access Policy by : International Monetary Fund. Policy Development and Review Dept.
Download or read book Access Policy in Capital Account Crises - Modifications to the Supplemental Reserve Facility and Follow-Up Issues Related to Exceptional Access Policy written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2003-01-14 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Author :International Monetary Fund. Policy Development and Review Dept. Publisher :International Monetary Fund ISBN 13 :1498328415 Total Pages :52 pages Book Rating :4.4/5 (983 download)
Book Synopsis Access Policy in Capital Account Crises by : International Monetary Fund. Policy Development and Review Dept.
Download or read book Access Policy in Capital Account Crises written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2002-07-29 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fund’s decisions to lend to member countries in amounts well above the access limits for Mexico (1995), and since then, have raised important questions about the role of the Fund in crisis resolution and the appropriate size of Fund access in capital account crises. This paper reviews past experience in exceptional access cases and considers strengthened conditions, procedures and safeguards for guiding decisions on Fund programs in these exceptional circumstances where Fund financing above normal access limits may be appropriate.
Book Synopsis You Never Give Me Your Money? Sovereign Debt Crises, Collective Action Problems, and IMF Lending by : Mr.Marco Committeri
Download or read book You Never Give Me Your Money? Sovereign Debt Crises, Collective Action Problems, and IMF Lending written by Mr.Marco Committeri and published by International Monetary Fund. This book was released on 2013-01-22 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: We review the impact of the global financial crisis, and its spillovers into the sovereign sector of the euro area, on the international “rules of the game” for dealing with sovereign debt crises. These rules rest on two main pillars. The most important is the IMF’s lending framework (policies, financing facilities, and financial resources), which is designed to support macroeconomic adjustment packages based on the key notion of public debt sustainability. The complementary pillar is represented by such contractual provisions as Collective Action Clauses (CACs) in sovereign bonds, which aim to facilitate coordination among private creditors in order to contain the costs of a debt default or restructuring. We analyze the most significant changes (and their consequences) prompted by the recent crises to the Fund’s lending framework, not only in terms of additional financial resources, new financing facilities (including precautionary ones), and cooperation with euro-area institutions, but also as regards the criteria governing exceptional access to the Fund’s financial resources. We highlight a crucial innovation to these criteria, namely that, for the first time, they now explicitly take account of the risk of international systemic spillovers. Finally, we discuss how the recent crises have provided new political support for a broader dissemination of CACs in euro-area sovereign bonds. Importantly, in the first case involving an advanced economy, CACs were activated in the debt exchange undertaken by Greece in Spring 2012.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1475549717 Total Pages :1074 pages Book Rating :4.4/5 (755 download)
Book Synopsis Selected Decisions and Selected Documents of the International Monetary Fund, Thirty-Sixth Issue by : International Monetary Fund
Download or read book Selected Decisions and Selected Documents of the International Monetary Fund, Thirty-Sixth Issue written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-06-30 with total page 1074 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Guatemala: Ex-Post Evaluation of Exceptional Access Under the 2009 Stand-By Arrangement by : International Monetary Fund
Download or read book Guatemala: Ex-Post Evaluation of Exceptional Access Under the 2009 Stand-By Arrangement written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-10-04 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Owing to the deteriorating economy of Guatemala, authorities requested a Stand-By Arrangement (SBA) with access of SDR 630.6 million in April 2009, which aimed at safeguarding macroeconomic and financial stability and anchoring investor confidence. Executive Directors have agreed that the SBA is successful in mitigating the financial crisis. Directors have appreciated the authorities’ commitment in implementing policies focused on short-term macroeconomic and financial stability on time, and also have urged to look into some important vulnerabilities that would have strengthened the fiscal framework.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1498343333 Total Pages :112 pages Book Rating :4.4/5 (983 download)
Book Synopsis The Fund’s Lending Framework and Sovereign Debt - Annexes by : International Monetary Fund
Download or read book The Fund’s Lending Framework and Sovereign Debt - Annexes written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-05-23 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Book Synopsis Background Papers on The IMF and the Crises in Greece, Ireland, and Portugal by : Moisés J. Schwartz
Download or read book Background Papers on The IMF and the Crises in Greece, Ireland, and Portugal written by Moisés J. Schwartz and published by International Monetary Fund. This book was released on 2017-06-30 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume book brings together nine background papers prepared for an evaluation by the IMF Independent Evaluation Office of “the IMF and the crises in Greece, Ireland, and Portugal.” It presents an authoritative work on the evolving relationship between the IMF and the euro area, a common currency area founded in 1999 consisting of advanced, highly integrated economies in Europe. The euro area, or any common currency area for that matter, has posed challenges to the IMF’s operational activities as its Articles of Agreement contain no provision for joint membership. The challenges became intense when a series of crises erupted in Greece, Ireland, and Portugal from 2009 to 2011, and the Fund was called upon to help intervene by offering its financing and crisis management expertise. The IMF found itself in uncharted territory where there was no precedent or established procedure. The chapters, many of which are prepared by prominent academics and former senior IMF officials who are thoroughly familiar with internal procedures, discuss various aspects of the IMF’s engagement with the euro area, including precrisis surveillance, how key decisions were made, how the IMF collaborated with European institutions, and how it designed and implemented its lending programs with the three crisis countries. The book gives prominence to governance-related issues, given the large voting share (of more than 20 percent) within the IMF of euro area members and the subsequent public perception that the IMF treated the euro area more favorably than it does developing and emerging market members. The approaches are both cross-cutting and country-based. Some chapters deal with issues related to the euro area as a whole, while others focus on how the Fund engaged with individual euro area countries. The book contains a statement on the IEO evaluation by the IMF Managing Director and a Summing Up of the Executive Board discussion held in July 2016.
Book Synopsis EU Law of Economic & Monetary Union by : Fabian Amtenbrink
Download or read book EU Law of Economic & Monetary Union written by Fabian Amtenbrink and published by Oxford University Press. This book was released on 2020-05-21 with total page 1808 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presenting a sweeping analysis of the legal foundations, institutions, and substantive legal issues in EU monetary integration, The EU Law of Economic and Monetary Union serves as an authoritative reference on the legal framework of European economic and monetary union. The book opens by setting out the broader contexts for the European project - historical, economic, political, and regarding the international framework. It goes on to examine the constitutional architecture of EMU; the main institutions and their legal powers; the core legal provisions of monetary and economic union; and the relationship of EMU with EU financial market and banking regulation. The concluding section analyses the current EMU crisis and the main avenues of future reform.
Book Synopsis Selected Decisions and Selected Documents of the International Monetary Fund, 42nd Issue by : International Monetary Fund. Legal Dept.
Download or read book Selected Decisions and Selected Documents of the International Monetary Fund, 42nd Issue written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2022-08-10 with total page 962 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume documents decisions, interpretations, and resolutions of the Executive Board and Board of Governors of the International Monetary Fund, as well as documents relating to the United Nations and other international organizations.
Book Synopsis Argentina: Ex-Post Evaluation of Exceptional Access Under the 2018 Stand-By Arrangement-Press Release and Staff Report by : International Monetary
Download or read book Argentina: Ex-Post Evaluation of Exceptional Access Under the 2018 Stand-By Arrangement-Press Release and Staff Report written by International Monetary and published by International Monetary Fund. This book was released on 2021-12-22 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: On June 20, 2018, the Executive Board approved the largest stand-by arrangement in the Fund’s history, in support of Argentina’s 2018-21 economic program. After an augmentation in October 2018, access under the arrangement amounted to US$57 billion (1,227 percent of Argentina’s IMF quota). The program saw only four of the planned twelve reviews completed, and did not fulfil the objectives of restoring confidence in fiscal and external viability while fostering economic growth. The arrangement was canceled on July 24, 2020.
