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The Flexible Credit Line Guidance On Operational Issues
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Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498335276 Total Pages :30 pages Book Rating :4.4/5 (983 download)
Book Synopsis The Flexible Credit Line—Guidance on Operational Issues by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book The Flexible Credit Line—Guidance on Operational Issues written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2009-02-11 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Flexible Credit Line (FCL) was introduced as part of a package of reforms to the Fund’s lending facilities in March 2009. 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.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498309682 Total Pages :45 pages Book Rating :4.4/5 (983 download)
Book Synopsis Flexible Credit Line - Operational Guidance Note by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Flexible Credit Line - Operational Guidance Note written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2018-08-06 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This note provides general guidance on the use of the Flexible Credit Line (FCL). After an overview of the instrument, explaining its specific nature, the operational issues are grouped into three areas: • an outline of the process and specific steps that need to be followed if a member expresses interest in an arrangement; • guidance on determining qualification of a member; and • a how-to guide for determining appropriate access levels. 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."
Book Synopsis Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument - Specific Proposals by : International Monetary Fund
Download or read book Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument - Specific Proposals written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-01-05 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper responds to Directors’ request at the time of the February discussions of the Review of the Flexible Credit Line (FCL), the Precautionary and Liquidity Line (PLL) and the Rapid Financing Instrument (RFI) for further analysis focusing on three key issues: - The alignment of the FCL and PLL qualification criteria. The paper proposes a qualification framework for PLL arrangements based on the nine FCL criteria aiming to improve the transparency and predictability of PLL decisions, while maintaining the current qualification standards. The paper also proposes a refinement of the bank solvency criterion. - The operationalization of an external stress index. The paper proposes a methodology to calculate a new index to strengthen discussions of a country’s external risks. Such an index would be presented to the Board at the time of requests for, or reviews under, FCL and PLL arrangements. - The use of indicators of institutional strength. The paper argues that a limited set of new institutional indicators could be used to help broaden the indicators of institutional strength already identified in the FCL and PLL Operational Guidance Notes
Book Synopsis Review of the Flexible Credit Line and Precautionary Credit Line by : International Monetary Fund. Finance Dept.
Download or read book Review of the Flexible Credit Line and Precautionary Credit Line written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2011-01-11 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the creation of the Flexible Credit Line (FCL) and Precautionary Credit Line (PCL), the Fund’s GRA toolkit was overhauled to address gaps in the Fund’s crisis prevention and resolution toolkit. The innovative and flexible nature of the new instruments was meant to reduce stigma from using Fund resources, underpinning confidence in its users amid stressed market conditions. Yet, there have been a limited number of members with these Using a variety of methodological tools, this review assesses experience with the instruments, arrangements. Using a variety of methodological tools, this review assesses experience with the instruments, reflects on the appropriateness of their design, and recommends refinements to enhance their effectiveness.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498309593 Total Pages :45 pages Book Rating :4.4/5 (983 download)
Book Synopsis Flexible Credit Line - Operational Guidance Note by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Flexible Credit Line - Operational Guidance Note written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2018-08-06 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This note provides general guidance on the use of the Flexible Credit Line (FCL). After an overview of the instrument, explaining its specific nature, the operational issues are grouped into three areas: • an outline of the process and specific steps that need to be followed if a member expresses interest in an arrangement; • guidance on determining qualification of a member; and • a how-to guide for determining appropriate access levels. 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."
Book Synopsis Technical Note on Synchronized Approval of Flexible Credit Lines for Multiple Countries by : International Monetary Fund
Download or read book Technical Note on Synchronized Approval of Flexible Credit Lines for Multiple Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-10-26 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt: As foreshadowed in the Executive Board Report to the IMFC on the Fund’s Mandate, this technical note sketches the procedures under which synchronized approval of Flexible Credit Line (FCL) arrangements for multiple member countries could be undertaken under the existing FCL Decision and other Fund policies.1 When multiple members face the same shock, synchronized approval of FCL arrangements could strengthen the effectiveness of the response to the common shock and minimize first-mover problems. This technical note neither modifies existing Fund policies, nor establishes a new financing instrument.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498311024 Total Pages :51 pages Book Rating :4.4/5 (983 download)
Book Synopsis Precautionary and Liquidity Line - Operational Guidance Note by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Precautionary and Liquidity Line - Operational Guidance Note written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2018-08-06 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: "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."
Book Synopsis Operational Guidance Note on Conditionality—December 2009 Revisions by : International Monetary Fund
Download or read book Operational Guidance Note on Conditionality—December 2009 Revisions written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-01-25 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2000-02 comprehensive review of the Fund’s conditionality culminated in the adoption of a set of conditionality guidelines by the Executive Board on September 25, 2002. The 2002 Conditionality Guidelines (the “guidelines”) replace the 1979 Conditionality Guidelines and the Interim Guidance Note on Streamlining Structural Conditionality of September 18, 2000. A review of experience with the guidelines, looking at how they have been implemented and at their impact, is conducted periodically; summary statistics on conditionality have been prepared annually since 2008.
Book Synopsis Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument by : International Monetary Fund
Download or read book Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-01-28 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis International Economic Law and Monetary Measures by : Annamaria Viterbo
Download or read book International Economic Law and Monetary Measures written by Annamaria Viterbo and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 20072010 global financial crisis re-opened the debate on the reform of the international monetary and financial system. This well-argued book demonstrates the strategic role of international economic law (IEL) in ensuring international monetary stability and global financial stability. After discussing the current allocation of powers among IEL institutions, Annamaria Viterbo focuses on monetary measures: exchange restrictions, capital controls and exchange rate manipulations. These three fundamental topics are then examined through the lens of a multi-layered methodology, adopting perspectives from international monetary law, trade law and investment law. The author evaluates how the horizontal sectors in which IEL is traditionally divided interact and how conflicts between norms are avoided or solved. Particular attention is also devoted to the outcomes of trade and investment disputes that deal with monetary measures. International Economic Law and Monetary Measures will appeal to international trade law and international financial law scholars as well as law and business students. Legal practitioners and officials working in the field of international economic law will find it a useful reference, as will legal counsel in banks and financial institutions, international investors and multinational corporations.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498346480 Total Pages :112 pages Book Rating :4.4/5 (983 download)
Book Synopsis The Role of the Fund in Governance Issues - Review of the Guidance Note - Preliminary Considerations - Background Notes by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book The Role of the Fund in Governance Issues - Review of the Guidance Note - Preliminary Considerations - Background Notes written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2017-02-08 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Background Notes in this Supplement provide essential context and analysis needed to understand the problem of governance and corruption, its impact on the economies of Fund members, and the history and nature of Fund engagement on these issues. They also seek to support the assessment of the Fund’s overall approach to promoting good governance and reducing corruption—including through the lenses of key stakeholders—with a view to identifying strength and closing any remaining gaps.
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.
Book Synopsis Review of the Flexible Credit Line, The Short Term Liquidity Line and the Precautionary and Liquidity Line, and Proposals for Reform by : International Monetary
Download or read book Review of the Flexible Credit Line, The Short Term Liquidity Line and the Precautionary and Liquidity Line, and Proposals for Reform written by International Monetary and published by International Monetary Fund. This book was released on 2023-10-06 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fund’s precautionary toolkit rests on the simple proposition that facilitating crisis prevention is far less costly than crisis resolution. Its value increases with systemic risk. Serial shocks to the global trading and financial systems pose significant and persistent headwinds for well-integrated emerging markets. An adequately funded global financial safety net (GFSN) with a suite of precautionary tools allows qualifying members to respond to balance of payments (BoP) shocks, reducing the incidence of crises and limiting contagion. The Fund is the only layer of the GFSN available to all members; other layers vary in their availability and externalities. In this context, the overarching objective of this review of the Flexible Credit Line (FCL), Short-term Liquidity Line (SLL), and Precautionary and Liquidity Line (PLL) is to ensure that the precautionary facilities toolkit (henceforth “the toolkit”) is fit for purpose for the challenges ahead.
Book Synopsis The Financial Obligation in International Law by : Rutsel Silvestre J Martha
Download or read book The Financial Obligation in International Law written by Rutsel Silvestre J Martha and published by Oxford University Press. This book was released on 2015-03-19 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first volume to comprehensively and systematically study, describe, and theorize the financial obligation created and governed by public international law. Legal globalization has given rise to a number of financial issues in international law in areas as diverse as development financing, investment protection, compensation of human rights victims, and sovereign debt crises. The claims resulting from the proliferation of financial activity are not limited to those primarily involving financial obligation (e.g. loans and grants) but include secondary obligation resulting from the law on international responsibility. Among the many instances of financial obligation covered in this study, the reader will find inter-State financial transactions, inter-State sale of goods, transnational services such as telecommunications and post, the financial operations of multilateral institutions, loans, grants and guarantees provided by the various international financial institutions, certain financial relations between non-State actors (including natural persons) and States, intergovernmental organizations or other international legal actors, and government loans to international organizations. Rich in historical detail and systematic in its coverage of contemporary law, this book will be valued by all practitioners and scholars with an interest in the nature of international financial obligation.
Book Synopsis Guidance Note On Implementing The Debt Limits Policy In Fund Supported Programs by : International Monetary
Download or read book Guidance Note On Implementing The Debt Limits Policy In Fund Supported Programs written by International Monetary and published by International Monetary Fund. This book was released on 2021-05-25 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Debt Limits Policy (DLP) establishes the framework for using quantitative conditionality to address debt vulnerabilities in IMF-supported programs. In October 2020, the Executive Board approved reforms to the DLP which will enter into effect on June 30, 2021. The risk-based approach to setting debt conditionality informed by Debt Sustainability Analyses under the previous DLP approved in 2014 is maintained. The reforms aim to provide countries with more financing flexibility in practice while still adequately containing debt vulnerabilities through appropriate safeguards. This note provides operational and technical guidance related to the implementation of the DLP, including the operationalization of the approved reforms. In particular, it outlines the core principles underpinning the DLP, including when debt conditionality in IMF-supported programs is warranted and how to account for country-specific circumstances in the design of debt limits. The note also describes the process of setting and implementing debt conditionality, including: (i) identifying debt vulnerabilities to inform the focus of debt conditionality; (ii) designing debt conditionality; and (iii) implementing debt conditionality through the review cycle. The Guidance Note is intended for use by both IMF staff and country officials. In this regard, in addition to the guidance presented in the main body, the note also contains several annexes that cover definitional, technical, and operational issues arising in the determination and implementation of public debt limits.
Book Synopsis Revised Operational Guidance to IMF Staff on the 2002 Conditionality Guidelines by : International Monetary Fund
Download or read book Revised Operational Guidance to IMF Staff on the 2002 Conditionality Guidelines written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-07-23 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
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.
