Author : Hana Polackova Brixi
Publisher : World Bank Publications
Page : 48 pages
File Size : 15,13 MB
Release : 1999
Category : Budget deficits
ISBN :
Governments' contingent liabilities increase fiscal vulnerability, but are omitted in traditional measures of the current deficit. In the Czech Republic this omission may mean that fiscal adjustment has been overstated by 3 to 4 percent of annual GDP, with future budgets having to pay for past guarantees. The stock of existing contingent liabilities in Macedonia could add 2 to 4 percent of GDP to that country's future deficits.
Author : Mr.J. D. Craig
Publisher : International Monetary Fund
Page : 50 pages
File Size : 41,90 MB
Release : 1998-02-03
Category : Business & Economics
ISBN : 155775697X
Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its April and September 1996 meetings, stressed the need for greater fiscal transparency. Prompted by these concerns, this paper represents a first attempt to address many of the aspects of transparency in government operations. It provides an overview of major issues in fiscal transparency and examines the IMF's role in promoting transparency in government operations.
Author : Mr.Andreas A. Jobst
Publisher : International Monetary Fund
Page : 93 pages
File Size : 35,93 MB
Release : 2013-02-27
Category : Business & Economics
ISBN : 1475557531
The recent global financial crisis has forced a re-examination of risk transmission in the financial sector and how it affects financial stability. Current macroprudential policy and surveillance (MPS) efforts are aimed establishing a regulatory framework that helps mitigate the risk from systemic linkages with a view towards enhancing the resilience of the financial sector. This paper presents a forward-looking framework ("Systemic CCA") to measure systemic solvency risk based on market-implied expected losses of financial institutions with practical applications for the financial sector risk management and the system-wide capital assessment in top-down stress testing. The suggested approach uses advanced contingent claims analysis (CCA) to generate aggregate estimates of the joint default risk of multiple institutions as a conditional tail expectation using multivariate extreme value theory (EVT). In addition, the framework also helps quantify the individual contributions to systemic risk and contingent liabilities of the financial sector during times of stress.
Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 45 pages
File Size : 24,92 MB
Release : 2008-05-31
Category : Business & Economics
ISBN : 1498334520
A number of member countries have expressed interest in advice regarding disclosure and management of fiscal risks (defined as the possibility of deviations of fiscal outcomes from what was expected at the time of the budget or other forecast). This paper analyzes the main sources of fiscal risks and—building on an overview of existing practices in a wide range of countries—provides practical suggestions in this area, including a possible Statement of Fiscal Risks and a set of Guidelines for Fiscal Risk Disclosure and Management.
Author : Aliona Cebotari
Publisher : INTERNATIONAL MONETARY FUND
Page : 60 pages
File Size : 14,82 MB
Release : 2008-10-01
Category :
ISBN : 9781451871036
Contingent liabilities have gained prominence in the analysis of public finance. Indeed, history is full of episodes in which the financial position of the public sector is substantially altered-or its true nature uncovered-as a result of government bailouts of financial or nonfinancial entities, in both the private and the public sector. The paper discusses theoretical and practical issues raised by contingent liabilities, including the rationale for taking them on, how to safeguard against the fiscal risks associated with them, how to account and budget for them, and how to disclose them. Country experiences are used to illustrate ways these issues are addressed in practice and challenges faced. The paper also points to good practices related to the mitigation, management and disclosure of risks from contingent liabilities.
Author : Mrs.Sage De Clerck
Publisher : International Monetary Fund
Page : 470 pages
File Size : 34,78 MB
Release : 2015-03-10
Category : Business & Economics
ISBN : 1498379214
The 2007–09 international financial crisis underscored the importance of reliable and timely statistics on the general government and public sectors. Government finance statistics are a basis for fiscal analysis and they play a vital role in developing and monitoring sound fiscal programs and in conducting surveillance of economic policies. The Government Finance Statistics Manual 2014 represents a major step forward in clarifying the standards for compiling and presenting fiscal statistics and strengthens the worldwide effort to improve public sector reporting and transparency.
Author : Mr. Santiago Acosta Ormaechea
Publisher : International Monetary Fund
Page : 32 pages
File Size : 44,56 MB
Release : 2021-05-28
Category : Business & Economics
ISBN : 151357728X
This guide presents the analytical underpinnings and a user manual for the Excel-based Public Debt Dynamics Tool (DDT).
Author : Mr.James Daniel
Publisher : International Monetary Fund
Page : 80 pages
File Size : 40,72 MB
Release : 2006-08-17
Category : Business & Economics
ISBN : 9781589065130
The pamphlet (which updates the 1995 Guidelines for Fiscal Adjustment) presents the IMF’s approach to fiscal adjustment, and focuses on the role that sound government finances play in promoting macroeconomic stability and growth. Structured around five practical questions—when to adjust, how to assess the fiscal position, what makes for successful adjustment, how to carry out adjustment, and which institutions can help—it covers topics such as tax policies, debt sustainability, fiscal responsibility laws, and transparency.
Author : Mr.Serkan Arslanalp
Publisher : International Monetary Fund
Page : 30 pages
File Size : 50,55 MB
Release : 2015-12-09
Category : Business & Economics
ISBN : 1513568566
In this paper, we develop a methodology to assess potential losses to the government that could arise from bank failures. The approach is intended to be simple, parsimonious, and used in real time. It generates an index that we call the banking sector contingent liability index (BCLI), based on the banking sector’s size, concentration, diversification, leverage, and riskiness of assets. The index is illustrated for 32 advanced and emerging market economies from 2006 to 2013, as well as a group of banks including global systemically important banks (G-SIBs).
Author : Mr.Maximilien Queyranne
Publisher : International Monetary Fund
Page : 103 pages
File Size : 23,26 MB
Release : 2019-05-08
Category : Business & Economics
ISBN : 1498313817
To provide policymakers in the Caribbean with a governance framework for improving infrastructure through Public-Private Partnerships (PPPs), while limiting their fiscal costs and risks for the government. And to showcase Canada support to FAD technical assistance in the region and FAD collaboration with CARTAC and the Caribbean Development Bank
