Securities settlement systems should have a well-founded, clear and transparent legal basis in the relevant jurisdiction. The laws, regulations, rules and procedures governing the operations and activities of Thailand Securities Depositories (TSD) are public and accessible to participants. In...

In economies in transition, the development of financial markets is a common objective linking the monetary and fiscal authorities, while monetary and public debt management cannot be strictly separated. This calls for close coordination of objectives and instruments of monetary and debt...

The paper presents a general equilibrium framework for short-run macroeconomic analysis in a developing country context where controls on interest rates and foreign exchange restrictions lead to the emergence of informal financial markets. The complexity of the model precludes an analytical...

The joint World Bank- International Monetary Fund (IMF) Financial Sector Assessment Program (FSAP) to the countries of the Eastern Caribbean Currency Union (ECCU) was carried out in September and October of 2003. The assessment covered the following: (i) stability issues, including banking...

The capital markets in Salvador are small and relatively underdeveloped, and have played a very limited role in the economy. On average, institutional investors invest less than 10 percent of their total assets in capital market instruments. In 2009, there were only five new issuances of...

This assessment covers the transparency of monetary policy in the Republic of Indonesia, and in particular, BI's role in the formulation and implementation of this policy. It forms part of the Financial Sector Assessment Program (FSAP) for Indonesia, which was conducted jointly by the IMF and...

This report presents the analysis, findings, conclusions and recommendations of the evaluation of the Pacific Financial Technical Assistance Center (PFTAC) that was undertaken between April 26 and May 14, 2004