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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...
Persistent link: https://www.econbiz.de/10014410203
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 … selecting key issues and proposals, and in laying out some of the pros and cons. With reform of quotas/voting power on a …
Persistent link: https://www.econbiz.de/10014410402
The recent financial crisis has given renewed urgency to the need for resolution systems for financial institutions, which both safeguard financial stability and limit moral hazard. However, experience demonstrates that these systems will not be effective unless progress is also made in...
Persistent link: https://www.econbiz.de/10014410343
Persistent link: https://www.econbiz.de/10014410139
The IMF's 2009 Annual Report chronicles the response of the Fund's Executive Board and staff to the global financial crisis and other events during financial year 2009, which covers the period from May 1, 2008, through April 30, 2009. The print version of the Report is available in eight...
Persistent link: https://www.econbiz.de/10014403938
The COVID-19 pandemic has created severe disruption in the global financial system, with many emerging market and developing countries (EMDCs) facing liquidity shortages. In the context of intensified demand for liquidity and heightened global uncertainty, staff has revisited the 2017 proposal...
Persistent link: https://www.econbiz.de/10014408787
Persistent link: https://www.econbiz.de/10014410019
This paper examines the implications of the Fund accepting membership in the Financial Stability Board ('FSB'). The FSB Charter (the ?Charter?) explicitly contemplates the possibility of the Fund and the other international financial institutions becoming members but notes that ?the acceptance...
Persistent link: https://www.econbiz.de/10014410140
In light of the recent establishment of the Financial Stability Board (FSB) as an association under Swiss law, this paper proposes Fund membership in the new association. The FSB was formed in 2009 and the Fund's Executive Board approved the Fund's membership in 2010, which has provided the Fund...
Persistent link: https://www.econbiz.de/10014410679
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...
Persistent link: https://www.econbiz.de/10014410084