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Author : Garth Nicholls
Publisher :
ISBN 13 :
Total Pages : 204 pages
Book Rating : 4.A/5 ( download)
Download or read book The Regulation of Non-bank Financial Institutions in the Eastern Caribbean Currency Union written by Garth Nicholls and published by . This book was released on 2004 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1475504101
Total Pages : 43 pages
Book Rating : 4.4/5 (755 download)
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-06-08 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Eastern Caribbean Currency Union (ECCU) has made significant progress in improving the quality and quantity of the macroeconomic statistics it produces and disseminates to the public. The Selected Issues Paper discusses prospects and challenges for credit unions in the ECCU. It reviews the current state of macroeconomic statistics, outlines progress that has been made, and identifies outstanding challenges. It also describes technical assistance to the region and presents the challenges for the production of macroeconomic statistics in small island states.
Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
ISBN 13 : 1513536222
Total Pages : 79 pages
Book Rating : 4.5/5 (135 download)
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2020-03-05 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents IMF’s 2019 Discussion on Common Policies of Member Countries of the Eastern Caribbean Currency Union (ECCU). ECCU’s gross domestic product (GDP) growth accelerated from 3/4 percent in 2017 to 3 3/4 percent in 2018, reflecting buoyancy in the tourism sector, sizable Citizenship-by-Investment (CBI) inflows, and a recovery from the 2017 hurricanes in Anguilla and Dominica, which were supported by large public investments in reconstruction. Fiscal deficits increased in 2018–2019, but they have remained moderate. Efforts are needed to streamline, and re-balance tax incentives based on clear principles consistent with international best practices. External imbalances are sizable and significant financial sector vulnerabilities affect both banks and non-banks. Growth is projected to gradually moderate toward its long-term average of 2 1/4 percent as the cyclical momentum normalizes and CBI inflows ease. These trends would also contribute to wider fiscal deficits, ending the downward drift in public debt dynamics. The outlook is clouded by downside risks, including a possible intensification of natural disasters and financial sector weaknesses.
Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498300065
Total Pages : 82 pages
Book Rating : 4.4/5 (983 download)
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2019-02-22 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2018 discussion on common policies of the Eastern Caribbean Currency Union (ECCU) highlights that the member countries are gradually recovering following the catastrophic impact of Hurricanes Irma and Maria in 2017. Conditions remain favorable to growth, however, risks are increasing. The fiscal balance for the region as a whole worsened in 2017, reflecting lower inflows from citizenship-by-investment programs and higher reconstruction and current spending. The IMF team made several policy recommendations including shifting focus from the current emphasis on recovery from natural disasters to building ex-ante resilience. The report also recommends intensifying decisive and timely actions to resolve weaknesses in the financial sector, including longstanding problems in the banking sector and emerging risks in the non-banking sector. The authorities expressed commitment to the acceleration of key reforms to upgrade and strengthen the financial sector regional oversight framework. In addition to fiscal consolidation, injecting new vigor into the structural policy agenda will help enhance competitiveness and make growth more inclusive.
Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484303490
Total Pages : 21 pages
Book Rating : 4.4/5 (843 download)
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2017-06-14 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Eastern Caribbean Currency Union: Selected Issues
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 145181173X
Total Pages : 97 pages
Book Rating : 4.4/5 (518 download)
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund and published by International Monetary Fund. This book was released on 2009-06-02 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Eastern Caribbean Currency Union (ECCU) countries financial system has increasingly come under stress particularly through weakly supervised nonbank and offshore financial sectors with knock-on effects to domestic banks. The staff report focuses on ECCU’s 2009 discussion on common policies of member countries on economic development and policies. In response, ECCU authorities have accelerated the establishment of national Single Regulatory Units and the passage of harmonized legislation to strengthen then regulation and supervision of nonbanks and offshore institutions.
Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 85 pages
Book Rating : 4.4/5 (2 download)
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2024-04-25 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: After successive external shocks—first, the pandemic and later higher commodity prices after Russia’s invasion of Ukraine—the region’s output has surpassed its pre-pandemic level boosted by a strong tourism rebound and investment. Inflation is moderating from its peak. Fiscal and external balances have improved, but public debt and current account deficits remain high. The financial system has been stable and liquid, although it continues to be confronted with asset quality weaknesses and rising risks in the non-bank financial sector. Longstanding structural challenges affecting private investment and employment create a drag on growth going forward. The region’s outlook is heavily dependent on uncertain Citizenshipby- Investment (CBI) inflows, and susceptible to volatility in commodity prices, a slowdown in major tourism source countries, and the recurrent threat of natural disasters.
Author : Mr.Alfred Schipke
Publisher : International Monetary Fund
ISBN 13 : 1616352655
Total Pages : 546 pages
Book Rating : 4.6/5 (163 download)
Download or read book The Eastern Caribbean Economic and Currency Union written by Mr.Alfred Schipke and published by International Monetary Fund. This book was released on 2013-04-10 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Eastern Caribbean Economic and Currency Union (OECS/ECCU) is one of four currency unions in the world. As in other parts of the world in the aftermath of the global economic and financial crisis, the region is at a crossroads, facing the major challenges of creating jobs, making growth more inclusive, reforming the banking system, and managing volatility, while grappling with high public debt and persistent low economic growth. Policymakers have the critical task of implementing strong reforms to strengthen the monetary union while also laying the foundation for accelerating growth. This Handbook provides a comprehensive analysis of the key issues in the OECS/ECCU, including its organization and economic and financial sector linkages, and provides policy recommendations to foster economic growth.
Author : Fabio Di Vittorio
Publisher : International Monetary Fund
ISBN 13 : 148435401X
Total Pages : 26 pages
Book Rating : 4.4/5 (843 download)
Download or read book On Bank Consolidation in a Currency Union written by Fabio Di Vittorio and published by International Monetary Fund. This book was released on 2018-04-24 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper focuses on the impact of diversification on bank performance and how consolidation through mergers and acquisitions (M&A) affects the banking sector’s stability in the Eastern Caribbean Currency Union (ECCU). The paper finds that a lower level of loan portfolio diversification explains higher non-performing loans and earnings volatility of indigenous banks, as compared to foreign competitors in the ECCU. We then simulate bank mergers both within and across ECCU countries by combining individual banks’ balance sheets. The simulation shows that a typical indigenous bank could better diversify against its idiosyncratic risk by merging with other banks across the border. In addition, we point out that M&A, leading to a more asymmetric banking sector, may increase systemic risk.
Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
ISBN 13 : 1475546378
Total Pages : 119 pages
Book Rating : 4.4/5 (755 download)
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2016-10-25 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: The regional recovery is gaining ground, supported by continued low oil prices, the return to pre-2007 levels of tourism arrivals, and buoyant citizenship-by-investment receipts. Three failed banks have been resolved with no spillovers to the rest of the region and authorities have demonstrated improved fiscal management. Risks in the short run appear to be balanced but the region still faces many vulnerabilities that jeopardize the medium-term outlook. This year’s discussions took stock of the progress made and the policies needed to address key vulnerabilities related to the weak banking system, high debt, susceptibility to natural disasters, and competitiveness.
Author : Pablo Druck
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.3/5 ( download)
Download or read book The Eastern Caribbean Central Bank written by Pablo Druck and published by International Monetary Fund. This book was released on 2008-09 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper analyzes the challenges for the Eastern Caribbean Central Bank (ECCB) to be an effective lender of last resort (LOLR) as part of a modern banking crisis resolution framework. The main results from the theoretical model of the ECCB's institutional arrangement are that the majority of currency union members may veto emergency lending in the case of a member-specific shock, as such lending may endanger the stability of the currency board (by lowering the central bank's international reserves, thus raising devaluation risk). However, in the presence of contagion across countries, all currency union members have a vested interest in liquidity supply from the central bank. A key policy recommendation is that currency union members need a stronger fiscal position to continue to access international financial markets and sustain the exchange rate peg.
Author : International Monetary Fund
Publisher :
ISBN 13 :
Total Pages : 65 pages
Book Rating : 4.:/5 (476 download)
Download or read book The Eastern Caribbean Currency Union written by International Monetary Fund and published by . This book was released on 2000 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial system, money, capital market, economic developments, output, employment, prices, tourism, public finances, banking, monetary issues, fiscal policy.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451811659
Total Pages : 63 pages
Book Rating : 4.4/5 (518 download)
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-09-22 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: The staff report for the 2004 Regional Surveillance on the Eastern Caribbean Currency Union (ECCU) focuses on the economic developments and near-term prospects. The fiscal position of the governments in the region has deteriorated sharply in recent years and resulted in a marked increase in public sector debt. Efforts in the region have focused on strengthening the supervisory and regulatory regimes in both the domestic banking sector and the offshore financial sector. Enhanced regional cooperation could also help broaden markets and provide opportunities to achieve economies of scale.
Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484303377
Total Pages : 78 pages
Book Rating : 4.4/5 (843 download)
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2017-06-14 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key points of 2017 Discussions on Common Policies of Member Countries of the Eastern Caribbean Currency Union (ECCU). Favorable external conditions continue to support economic recovery in the ECCU, but flat tourism receipts and falling revenues from citizenship programs have weakened growth. The fiscal position has deteriorated slightly, and public debt remains high. Despite progress on financial sector reform, bank lending continues to decline while indigenous banks’ profitability is adversely impacted by increasing costs to secure correspondent banking relationships. The short-term outlook is favorable and risks are broadly balanced, but strong structural policies are needed to address impediments to medium-term growth.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 145521390X
Total Pages : 90 pages
Book Rating : 4.4/5 (552 download)
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-01-28 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real regional gross domestic product (GDP) contracted by 6 percent in 2009, reflecting a collapse in tourist arrivals and foreign direct investment (FDI)-financed construction activity. The global financial and economic crisis has also exposed areas of significant weaknesses, notwithstanding reforms implemented by a number of member countries. Executive Directors concurred that the urgent challenge is fiscal consolidation. They noted IMF staff’s assessment that the real effective exchange rate (REER) appears broadly in line with current fundamentals.
Author : DeLisle Worrell
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (318 download)
Download or read book A Currency Union for the Caribbean written by DeLisle Worrell and published by International Monetary Fund. This book was released on 2003-02 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The experiences of Caribbean Economic Community countries show that exchange rate depreciation in these countries is inflationary, and that, while changes in the relative prices of tradables may affect exports, tourism, and imports, nominal exchange rate changes have no predictable effect on those relative prices. Under these circumstances, economic literature indicates that a fixed exchange rate regime is optimal, and Caribbean countries with (quasi-) currency boards have been successful in maintaining durable exchange rate pegs. Commitment to a currency board is a potentially vital step in achieving a currency union for the Caribbean.
Author : M. G. Zephirin
Publisher :
ISBN 13 :
Total Pages : 476 pages
Book Rating : 4.A/5 ( download)
Download or read book Financial Innovations in the Caribbean written by M. G. Zephirin and published by . This book was released on 1997 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt:
