Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 150 pages
File Size : 15,58 MB
Release : 2010-03-24
Category : Business & Economics
ISBN : 1498337767
This note provides operational guidance and background information on the use of Fund resources for budgetary financing. It does this in the context of concerns expressed by some Executive Board Directors that, by providing such financing, the Fund might be held accountable for the quality of budgetary spending; that repayment could be subject to country budgetary processes; and that budget financing is the role of other institutions.
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 163 pages
File Size : 44,55 MB
Release : 2010-10-08
Category : Business & Economics
ISBN : 1498337244
In light of the multilateral effort to ensure the adequacy of the financial resources available to the International Monetary Fund (the “Fund”), and with a view to supporting the Fund’s ability to provide timely and effective balance of payments assistance to its members, the Bank of Slovenia agrees to lend to the Fund an SDR-denominated amount up to the equivalent of EUR 280 million, on the terms and conditions set out in this paper.
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 36 pages
File Size : 17,83 MB
Release : 2010-03-29
Category : Business & Economics
ISBN : 1498337724
The FY 11–13 medium-term budget (MTB) presented in this paper brings to a close the three-year restructuring effort that began with the FY 09–11 MTB. It secures savings of $100 million in real terms while providing sufficient financing for structural operations and the Fund’s response to the global financial crisis. This budget has been crafted in a period of uncertainty regarding the final scope and duration of the financial crisis as well as the ongoing responsibilities that the Fund may retain even as the crisis unwinds. There is also uncertainty about new responsibilities that may result as a review of the Fund’s mandate is undertaken. Addressing these items will be part of the work agenda to be undertaken in the coming year.
Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 48 pages
File Size : 34,34 MB
Release : 2010-02-09
Category : Business & Economics
ISBN : 1498336892
This paper provides the basis for the next round of discussions on the 14th General Review of Quotas. The Committee of the Whole (COW) has so far met three times this year: in March and July to consider the realignment of quota shares, and in April for an initial discussion on the size of the overall increase. Directors also met informally with the Managing Director on July 22 to take stock of the remaining issues, keeping in mind the tight timetable for completing the review and the need for flexibility and compromise from all sides. As discussed at the informal meeting, the Board recess provided an opportunity to take stock of the different positions and seek guidance from capitals on possible ways forward, with the goal of reaching a pragmatic solution that could bridge the remaining gaps within the relatively short period of time still available.
Author : International Monetary Fund. Legal Dept.
Publisher : International Monetary Fund
Page : 53 pages
File Size : 14,72 MB
Release : 2010-07-15
Category : Business & Economics
ISBN : 1498337317
In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for selected Fund Activities (the “SFA Instrument”). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of a subaccount within the SFA. This paper requests Executive Board approval to establish the United States Subaccount for Selected Fund Activities (the “Subaccount”) under the terms of the SFA instrument.
Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 35 pages
File Size : 39,92 MB
Release : 2012-10-02
Category : Business & Economics
ISBN : 1498340903
The Board of Governors has asked the Executive Board to complete a comprehensive review of the quota formula by January 2013. This review is an mportant part of the 2010 quota and governance reforms. At the Seoul Summit, G-20 Leaders welcomed the reforms, which they noted include “Continuing the dynamic process aimed at enhancing the voice and representation of emerging market and developing countries, including the poorest, through a comprehensive review of the quota formula by January 2013 to better reflect the economic weights; and through completion of the next general review of quotas by January 2014.” At its most recent meeting in September 2011, the IMFC stressed that governance reform is crucial to the legitimacy and effectiveness of the IMF. The IMFC committed to intensify its efforts to meet the 2012 Annual Meetings target for effectiveness of the 2010 reform, and called for a report on progress in the quota formula review by the time of its next meeting.
Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 48 pages
File Size : 11,25 MB
Release : 2010-05-10
Category : Business & Economics
ISBN : 1498336744
The IMFC in its April 2010 Communiqué pledged to complete the 14th Quota Review before January 2011 in line with the parameters agreed in Istanbul. The Committee of the Whole (COW) has since continued its work aimed at developing proposals that could command broad support. At its most recent meeting in September, there was a shared commitment to reaching an agreement within the agreed timetable but views remained divided on many issues. To facilitate progress towards the agreed goal, this paper suggests possible elements that could help form the basis for an agreement. These elements seek to build on the discussions to date and balance the diverse views that have been expressed. Inevitably, they will not fully meet the preferences or priorities of any individual member, and difficult compromises will be required from all sides if an agreement is to be reached.
Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 12 pages
File Size : 44,94 MB
Release : 2010-06-22
Category : Business & Economics
ISBN : 1498337384
At its most recent meeting in April 2010, the IMFC pledged to complete the 14th General Review of Quotas before January 2011. This follows an earlier call by G-20 Leaders and the IMFC to bring forward the deadline for completing the 14th Review by two years as part of the multilateral response to the global financial crisis and the recognized need to enhance the Fund’s legitimacy and effectiveness.
Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 29 pages
File Size : 25,15 MB
Release : 2011-08-17
Category : Business & Economics
ISBN : 1498338585
At the conclusion of the 14th General Review of Quotas (14th Review), the Board of Governors requested that a comprehensive review of the quota formula be completed by the Executive Board by January 2013. The timetable for completing the 15th General Review was also brought forward by two years to January 2014. This paper is intended to serve as background for an initial informal exchange of views on issues relating to the formula review. It begins with a brief stock-take, before presenting the results of updating the quota database through 2009. The remainder of the paper discusses potential issues that could be considered as part of the review.
Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 19 pages
File Size : 14,10 MB
Release : 2012-06-29
Category : Business & Economics
ISBN : 1498340318
This Annex presents additional staff work on financial interconnectedness. The analysis examines a possible methodology for constructing indicators of financial interconnectedness and related data issues. In addition, it presents some illustrative simulation results.This annex focuses on financial interconnectedness that takes into account the pattern and size of cross-border financial linkages and potentially provides a more comprehensive picture of a country’s international financial integration
