Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance


Book Description

This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.




Republic of Palau


Book Description

Palau is a middle-income micro state in the Pacific (population: 18,000) that relies heavily on tourism and grants, and is exposed to natural disasters. The economy grew strongly at 9.4 percent in FY2015 led by robust tourism and construction activity, but the surge in tourist arrivals strained infrastructure and was tilted to low budget tourism. The fiscal position has improved, but further efforts are needed to ensure long-term fiscal sustainability. The outlook is favorable although subject to significant downside risks. The discussions focused on




Republic of Palau


Book Description

This 2012 Article IV Consultation reports that Palau’s growth is expected to be favorable at 3 percent in FY2012 and to average 2 percent over the medium term. The outlook is clouded by an unsettled global environment, and downside risks dominate. Highly dependent on tourism, imports of food and fuel, and foreign aid, Palau remains vulnerable to external headwinds and has limited policy space to counter these risks. The authorities have made commendable efforts to reduce the current fiscal deficit markedly during FY2010–11, but the deficit remains sizable.




Republic of Fiji


Book Description

This 2014 Article IV Consultation highlights that growth in Fiji in 2013 accelerated to 4.6 percent. Consumption and investment indicators suggest continued strength in 2014, with economic growth projected at 3.8 percent. Headline inflation is currently low as imported commodity and food prices have remained stable. The Reserve Bank of Fiji lowered its policy rate to 0.5 percent in 2011, and monetary policy has been on hold since then. In response to lower rates and improved confidence, net domestic credit accelerated in the first half of 2014. Based on developments in the first half of 2014, the deficit financing target is on track to be met.




ADB Business Opportunities


Book Description







International Monetary Fund Annual Report 2019 Financial Statements


Book Description

The audited consolidated financial statements of the International Monetary Fund as of April 30, 2019 and 2018