In recent months, a number of Directors have expressed support in the Executive Board for a further extension of the temporary exceptional interest waiver on concessional lending. An extension would send a signal of the Fund's continued support for Low-Income Countries at a time when the global...

Payment systems are a core part of all financial systems. The quality of payment systems determines the stability of the overall economy, the efficiency and reliability of financial intermediation, and the possibility for the private sector to innovate and provide new services to consumers. This...

This paper discusses key findings of the Detailed Assessment of the Securities Clearance and Settlement Systems for Denmark. The assessment recommends that securities settlement systems should have a well-founded, clear, and transparent legal basis in the relevant jurisdiction. Confirmation of...

This Detailed Assessment of the Observance of Core Principles for Systemically Important Payment Systems (CPSS), Belarus Interbank Settlement System (BISS): RTGS Service on the Republic of Belarus reviews the core principles for systematically important payment systems. BISS offers the...

This paper presents findings of the Detailed Assessment of Italy’s Compliance with the Committee for Payment and Settlement Systems (CPSS) Core Principles for Systemically Important Payment Systems. At present, the Italian banking system is subject to significant challenges resulting from...

This paper presents detailed assessment of Israel’s compliance with Basel Committee on Payments and Settlement Systems Core Principles for Systemically Important Payment Systems. A significant improvement in the payments landscape has been noted, with the high value payment system meeting most...

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...