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Managing Financial Crises; Recent Experience and Lessons for Latin America
Kincaid, G. Russell; Collyns, Charles - International Monetary Fund (IMF) - 2003
This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...
Persistent link: https://www.econbiz.de/10005824823
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Honduras; Third Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility; Request for Waiver and Modification of Performance Criteria; and Financing...
International Monetary Fund (IMF); International … - 2006
Honduras’s Third Review under the Poverty Reduction and Growth Facility and Request for Waiver and Modification of Performance Criteria are discussed. The current stance of monetary and exchange rate policies are broadly appropriate, and financial sector reforms are proceeding. Progress...
Persistent link: https://www.econbiz.de/10005824978
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Tonga; Selected Issues and Statistical Appendix
International Monetary Fund (IMF); International … - 2003
This Selected Issues paper and Statistical Appendix reviews the past conduct of monetary policy of Tonga. The paper considers the problems in the current system and discusses the policy options available to the authorities. It reviews Tonga’s exchange rate policy and explores its...
Persistent link: https://www.econbiz.de/10005825242
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Central Bank Response to the 2007-08 Financial Market Turbulence; Experiences and Lessons Drawn
Stella, Peter; Shimizu, Seiichi; Gray, Simon; Klueh, … - International Monetary Fund (IMF) - 2008
The paper reviews the policy response of major central banks during the 2007–08 financial market turbulence and … suggests that there is scope for convergence among central bank operational frameworks through the adoption of those elements … of liquidity provision; and (iv) central bank cooperation to facilitate the use of cross-border collateral. Flexible use …
Persistent link: https://www.econbiz.de/10005825614
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Reserve Requirementson Foreign Currency Deposits in Sub-Saharan Africa; Main Features and Policy Implications
Kovanen, Arto - International Monetary Fund (IMF) - 2002
This paper reviews the reserve requirement arrangements of sub-Saharan Africa, focusing on the differences between reserve requirements on domestic- and foreign-currency deposits. The reserve requirement systems in sub-Saharan Africa are relatively simple and transparent, but in some countries...
Persistent link: https://www.econbiz.de/10005825674
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Re-Establishing Credible Nominal Anchors After a Financial Crisis; A Review of Recent Experience
Zanello, Alessandro; Stone, Mark R.; Jarvis, Christopher J. - International Monetary Fund (IMF) - 2003
This paper studies the question of how to achieve monetary policy credibility and price stability after a financial crisis. We draw stylized facts and conclusions from ten recent cases: Brazil (1999); Bulgaria (1997); Ecuador (2000); Indonesia (1997); Korea (1997); Malaysia (1997); Mexico...
Persistent link: https://www.econbiz.de/10005825883
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Excess Liquidity and the Effectiveness of Monetary Policy; Evidence From Sub-Saharan Africa
Saxegaard, Magnus - International Monetary Fund (IMF) - 2006
This paper examines the pattern of excess liquidity in sub-Saharan Africa and its consequences for the effectiveness of monetary policy. The paper argues that understanding the consequences of excess liquidity requires quantifying the extent to which commercial bank holdings of excess liquidity...
Persistent link: https://www.econbiz.de/10005826003
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A Framework for Independent Monetary Policy in China
Goodfriend, Marvin; Prasad, Eswar - International Monetary Fund (IMF) - 2006
As China's economy becomes more market based and continues its rapid integration into the global economy, having an independent and effective monetary policy regime oriented to domestic objectives will become increasingly important. Employing modern principles of monetary policy in light of the...
Persistent link: https://www.econbiz.de/10005826023
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Exchange Rate, Money, and Wages; What is Driving Prices in Armenia?
Khachatryan, Armine; Grigorian, David A.; Sargsyan, Grigor - International Monetary Fund (IMF) - 2004
This paper is the first attempt to look at inflation dynamics and monetary transmission mechanisms in Armenia in the context of a full information model containing three interrelated markets: foreign exchange, money, and labor. Using the vector error correction model (VECM) approach, we find...
Persistent link: https://www.econbiz.de/10005826143
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The Coordination of Domestic Public Debt and Monetary Management in Economies in Transition; Issues and Lessons From Experience
International Monetary Fund (IMF); International … - 1994
In economies in transition, the development of financial markets is a common objective linking the monetary and fiscal authorities, while monetary and public debt management cannot be strictly separated. This calls for close coordination of objectives and instruments of monetary and debt...
Persistent link: https://www.econbiz.de/10005826151