This paper discusses findings of the assessment of Financial Sector Supervision and Regulation on the Cayman Islands. The assessment reveals that substantial progress has been made in the implementation of the 2003 Offshore Financial Center assessment recommendations, including, importantly,...

This Detailed Assessment of the Observance of International Organization of Securities Commissions (IOSCO) Objectives and Principles of Securities Regulation for the Dubai International Financial Centre (DIFC) discusses the preconditions for effective securities regulations 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

This paper discusses principles and functions of the IMF. The IMF is a specialized agency of the United Nations system set up by treaty in 1945 to help promote the health of the world economy. Through its work, the IMF helps to keep the world economy running as smoothly as possible. Its work is...

This Selected Issues paper covers three topics of particular relevance to Mauritania: export competitiveness and exchange rate policy, the monetary policy framework, and the transfer of government deposits from commercial banks to the central bank. The paper reports on the recent economic...

This paper provides an overview of the likely impact of the creation of the European Community (EC) internal market on the European Free Trade Association (EFTA) members. The focus is on the four freedoms and the institutional and legal changes required for increased economic cooperation between...

This paper analyzes the implications of growing international economic integration for the conduct of structural policy. Section I points out that the internationalization of financial intermediation has raised the welfare costs associated with domestic distortions. The growing importance of...

This paper evaluates the effect of foreign debt on investment in a heavily-indebted country, using numerical simulations of a simple rational expectations growth model. Two particular effects are distinguished. First, the effect due to “debt overhang” of past accumulated debts; and second,...