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This paper describes a financial system that should be adopted for the 21st century. The paper highlights that the financial crisis of 2008 has raised fundamental questions about how the financial industry is structured, managed, and regulated. The paper discusses that a well-functioning...
Persistent link: https://www.econbiz.de/10014397983
IMF economists work closely with member countries on a variety of issues. Their unique perspective on country experiences and best practices on global macroeconomic issues are often shared in the form of books on diverse topics such as cross-country comparisons, capacity building, macroeconomic...
Persistent link: https://www.econbiz.de/10014397620
The global financial safety net (GFSN) has become larger and more decentralized, creating a need for greater coordination. The expanded GFSN has created multiple sources of official financing for countries in need of support to address balance of payments shocks. Enhanced coordination among...
Persistent link: https://www.econbiz.de/10014408711
This paper follows up on the Executive Board's December 2002 discussion of the design of the Sovereign Debt Restructuring Mechanism and seeks to make further progress on the formulation of a concrete proposal for a statutory sovereign debt restructuring mechanism
Persistent link: https://www.econbiz.de/10014409727
The IMF is in the process of revising its 2001 Code of Good Practices on Fiscal Transparency. The four core principles of the original Code remain unchanged in the revision: institutional clarity, open budget processes, public information and integrity. However, the document has been updated and...
Persistent link: https://www.econbiz.de/10014409790
The SDR has enjoyed renewed attention lately in the context of debates on international monetary reform. To be sure, the term SDR has been used to refer to three different concepts-(i) a composite reserve asset created in 1969: the 'official SDR' as defined in the Fund's Articles; (ii) a...
Persistent link: https://www.econbiz.de/10014410306
demanding and difficult times, characterized by a succession of shocks unseen, in the advanced economies, since World War II … of the crisis would have accentuated their differences and given rise to an even more diverse setof central bank policies … bank cooperation ever, as symbolically illustrated by the coordinated decrease of interest rates in October 2008. The …
Persistent link: https://www.econbiz.de/10014411203
This note provides a set of high-level recommendations that can guide national regulatory and supervisory responses to the COVID-19 (coronavirus) pandemic and offers an overview of measures taken across jurisdictions to date. The banking sector plays a critical role in mitigating the...
Persistent link: https://www.econbiz.de/10012647142
payments assistance to its members, the Bank of Slovenia agrees to lend to the Fund an SDR-denominated amount up to the …
Persistent link: https://www.econbiz.de/10014410146
This paper explores how banking sector developments and characteristics influence the propagation of risks from the banking sector to sovereign debt, including how they affect the extent of fiscal costs of banking crises when those occur. It then proposes practices and policies for the fiscal...
Persistent link: https://www.econbiz.de/10014410683