This paper discusses the assessment of observance of Thailand Securities Depository (TSD) of the Committee of Payments and Settlement Systems (CPSS)/International Organization of Securities Commissions (IOSCO) recommendations for securities settlement systems for Thailand. On the basis of the...

The Canadian Depository for Securities (CDS) is the operator of the securities settlement system. The design and operations of the CDS are covered by a solid legal basis. The regulatory framework is clear and transparent to market participants. The risk management procedures of the CDS as a...

This Article 2008 IV Consultation highlights that Bosnia and Herzegovina’s economy has been exhibiting robust growth, but imbalances have emerged. The current account deficit has widened and underlying inflation has picked up. Procyclical fiscal policy has added to these imbalances....

This report describes the assessment of the securities clearance and settlement system in Spain, based on the Committee on Payment and Settlement Systems (CPSS)-International Organization of Securities Commissions’ (IOSCO) Recommendations for Securities Settlement Systems. It is performed...

The capacity of the Saudi Arabian banking sector to respond to macroeconomic shocks has been considerably strengthened over the past decade. The Saudi Arabian Monetary Agency (SAMA ) has been actively monitoring some emerging portfolio trends. Comprehensive reforms are under way to deepen...

Economic stability of the Philippines was discussed in this report. Private investment remained low by regional standards, but there are tentative signs of a revival. These developments and favorable global conditions led to a surge in foreign exchange inflows and the external value of the peso....

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

This 2012 Article IV Consultation highlights that despite a difficult economic and social context, Burundi has made steady, though uneven, progress in implementing its Extended Credit Facility (ECF)-supported economic reforms. Real GDP growth is estimated to have increased to 4.2 percent in...

The Financial System Stability Assessment of Denmark has been developed to identify the weakness in the financial sector structure and thereby enhance the resilience to macroeconomic shocks and cross-border contagion. This paper provides the overall stability assessment of the financial system...