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Author: International Monetary Fund. Finance Dept. Publisher: International Monetary Fund ISBN: 1498338461 Category : Business & Economics Languages : en Pages : 14
Book Description
Under the Fund’s safeguards policy introduced in 2000, assessments of central banks are carried out for countries seeking financing from the IMF. They are part of the Fund’s approach to prudent lending and complement the Fund’s other safeguards such as program design, conditionality, and access limits, to name a few. The assessments aim to provide reasonable assurance that governance and controls can protect Fund resources from misuse and guard against misreporting of monetary data used for program monitoring purposes.
Author: International Monetary Fund. Finance Dept. Publisher: International Monetary Fund ISBN: 1498338461 Category : Business & Economics Languages : en Pages : 14
Book Description
Under the Fund’s safeguards policy introduced in 2000, assessments of central banks are carried out for countries seeking financing from the IMF. They are part of the Fund’s approach to prudent lending and complement the Fund’s other safeguards such as program design, conditionality, and access limits, to name a few. The assessments aim to provide reasonable assurance that governance and controls can protect Fund resources from misuse and guard against misreporting of monetary data used for program monitoring purposes.
Author: International Monetary Fund. Finance Dept. Publisher: International Monetary Fund ISBN: 1498339913 Category : Business & Economics Languages : en Pages : 16
Book Description
The safeguards policy was introduced in 2000 to reduce the risks of misuse of Fund resources and misreporting of program monetary data to the Fund. It supports the Fund’s approach to prudent lending and complements other safeguards such as program design, conditionality, and access limits, to name a few. Some 242 assessments of 92 central banks have been completed since 2000. Assessments are followed by a period of monitoring for as long as Fund credit is outstanding.
Author: International Monetary Fund. Fiscal Affairs Dept. Publisher: International Monetary Fund ISBN: 1498340555 Category : Business & Economics Languages : en Pages : 5
Book Description
This paper notifies the Executive Board of a pilot exercise for fiscal safeguards. The pilot will be conducted by the Fiscal Affairs Department and will cover a limited number of large budget financing cases over the next twelve months. Contrary to the existing safeguards assessment for central banks, participation in this exercise will be voluntary but will follow similar procedures in terms of confidentiality.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498344178 Category : Business & Economics Languages : en Pages : 39
Book Description
This report by the external expert panel (“the panel”) examines the effectiveness and appropriateness of the safeguards assessments policy in the five years since its last review in 2010. In addition to expressing an opinion on the effectiveness and appropriateness of the safeguards assessment policy, the panel also makes recommendations to the Executive Board for its consideration to improve and optimize the benefits to be garnered from the safeguards assessment policy. The panel’s opinion is based on (i) consultations with key stakeholders, including central bank authorities, IMF Executive Directors’ offices, Fund and World Bank staff; (ii) examination of safeguards assessment and other Fund-specific documents; and (iii) study of international reference materials.
Author: Mr.George M Kabwe Publisher: International Monetary Fund ISBN: 1513523023 Category : Business & Economics Languages : en Pages : 23
Book Description
Safeguards assessments are a key pillar of the risk management arrangements for IMF lending. Safeguards assessments aim to mitigate the risks of misuse of Fund resources and misreporting of program monetary data under Fund arrangements Safeguards assessment reports are confidential and therefore the IMF Executive Board is provided with a periodic report on safeguards activities on a biennial basis, in addition to high-level summaries in member country staff reports on key findings and recommendations. This update on safeguards activity covers the period May 2017 to end-April 2019 (the period).
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498346308 Category : Business & Economics Languages : en Pages : 23
Book Description
activity remained consistent with recent years. 21 assessments were completed during the update period (September 2015-April 2017) and five were in progress at the end of the period. Activity continues to average around 13 assessments per year. While the number of central banks under monitoring decreased slightly from 67 to 63, some monitoring cases required intense engagement due to safeguards challenges that emerged. These related to forensic investigations, governance reforms, and a deterioration in safeguards frameworks of central banks facing difficult external conditions.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498341225 Category : Business & Economics Languages : en Pages : 15
Book Description
The safeguards policy, introduced in 2000, is designed to reduce the risks of misuse of Fund resources and misreporting of program monetary data to the Fund. It supports the Fund’s approach to prudent lending and complements other safeguards, including program design, conditionality, and access limits. Safeguards assessments are required for almost all member countries seeking Fund financing, and are followed by a period of monitoring for as long as Fund credit is outstanding
Author: International Monetary Fund. Middle East and Central Asia Dept. Publisher: International Monetary Fund ISBN: 1513562045 Category : Business & Economics Languages : en Pages : 75
Book Description
EXECUTIVE SUMMARY Context: Political and security uncertainties and an inadequate policy response led to lower growth and emergence of important fiscal and banking vulnerabilities in 2014. The establishment of a national unity government and the December 2014 London Conference has helped build confidence and reconfirmed donor support for Afghanistan. The proposed staff-monitored program (SMP) will foster continued close engagement with Afghanistan, address vulnerabilities, and help manage risks. An independent staff team is preparing an ex post assessment of the Funds’ engagement with Afghanistan since 2006 and its report will be sent to the Executive Board separately. Focus of the SMP: In the attached Letter of Intent, dated May 6, 2015, the authorities requested a new SMP covering the period April 1, 2015–December 31, 2015. The SMP will aim to mobilize revenue and address urgent banking vulnerabilities. Successful performance under the SMP would support a future request for an IMF financial arrangement, foster macroeconomic stability and inclusive growth. Policy recommendations: Fiscal policy will focus on mobilizing domestic revenue and rebuilding the treasury’s cash balance. Monetary policy will aim to preserve low inflation and maintain exchange rate flexibility to protect international reserves and competiveness, and avoid excessive volatility. Structural reforms will focus on: (i) revenue mobilization, expenditure control and repayment of arrears; (ii) financial sector reforms to deal with weak banks, promulgate the new banking law, amend the central bank law, strengthen banking supervision, and address weaknesses in state banks including New Kabul Bank; and (iii) improving economic governance by strengthening the anti- corruption, anti-money laundering, and countering the financing of terrorism regimes. Risks to the SMP: Risks, mostly on the downside, are related to adverse security developments, inadequate implementation of economic policies, political instability, and donor fatigue. Large security and development expenditure needs mean that Afghanistan will remain dependent on donor financing for an extended period. On the upside, a political agreement that improves security conditions, stronger domestic demand and early development of mining projects would result in faster growth.
Author: International Monetary Fund. Middle East and Central Asia Dept. Publisher: International Monetary Fund ISBN: 1484336453 Category : Business & Economics Languages : en Pages : 67
Book Description
The article is a review on Djibouti’s Extended Credit Facility (ECF) program and the performance of economic development in the program. The ECF program helped Djibouti to maintain macroeconomic stability, and the period underwent a transformation in the Djiboutian economy. The country saw an economic increase, and the banking system boomed. A positive thought of economic growth is projected in 2012, so plans were targeted to pursue fiscal reforms to improve debt sustainability, strengthening the banking sectors. The authorities of the Executive Board expect another program similar to the ECF.
Author: International Monetary Fund. Finance Dept. Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 45
Book Description
This paper reviews experience with the safeguards assessment policy since the last review in 2015. The policy is subject to periodic reviews by the Executive Board. The policy’s main objective is to mitigate risks of misuse of Fund resources and misreporting of monetary data under Fund arrangements. Consistent with past reviews, an external panel of experts provided an independent perspective on the implementation of the policy.
Author: International Monetary Fund. Finance Dept.
Author: International Monetary Fund. Finance Dept.
Author: International Monetary Fund. Finance Dept.
Author: International Monetary Fund. Fiscal Affairs Dept.
Author: International Monetary Fund
Author: Mr.George M Kabwe
Author: International Monetary Fund
Author: International Monetary Fund
Author: International Monetary Fund. Middle East and Central Asia Dept.
Author: International Monetary Fund. Middle East and Central Asia Dept.
Author: International Monetary Fund. Finance Dept.