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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
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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
New and revised international standards for safe and efficient Financial Market Infrastructures (FMIs) were published in April 2012. The Committee on Payment and Settlement Systems (CPSS) and the International Organization of Securities Commissions (IOSCO) reviewed the existing sets of standards...
Persistent link: https://www.econbiz.de/10014410384
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 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
This paper discusses how international financial institutions (IFIs) can deal with new global challenges. The paper highlights that surveillance is the primary responsibility of the IMF. To make it more effective, more attention should be paid to long-term, structural developments that, if left...
Persistent link: https://www.econbiz.de/10014397231
Persistent link: https://www.econbiz.de/10014407829