Narrow Your Choices

Refine By Type

Refine By Countries

Refine By Topic

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Search Results

You are looking at 1 - 10 of 21 items for :

  • "portfolio investment statistics" x
Clear All
Cover Analysis of 1997 Coordinated Portfolio Investment Survey Results and Plans for the 2001 Survey
Analysis of 1997 Coordinated Portfolio Investment Survey Results and Plans for the 2001 Survey
International Monetary Fund. Statistics Dept.

Abstract

Analysis and Plans, presents an assessment of 1997 survey data and a summary of improvements introduced, as a result of countries' participation in the 1997 Coordinated Portfolio Investment Survey, into national systems for collecting data on international (cross-border) portfolio investment The chapter reviews developments that occurred in international financial markets in the 1980s and 1990s, and the Godeaux Report assessment and recommendations about global data on international portfolio investment flows and stocks. The objectives set for the 1997 survey, the scope of survey results, and the process by which results have been assessed in the chapter. Since publication of the Godeaux Report, substantial expansion and evolution have occurred in exchange and over-the-counter markets for financial derivatives covering a range of financial risks. These markets now have the capacity, in effect, to change the currencies, maturities, and marketability of the financial instruments underlying associated derivative contracts. It is recommended that vigorous efforts should be made to secure the participation of more major investing countries in order to address the under-reporting of global portfolio investment assets and to confirm the reliability of the global data on portfolio investment liabilities.

Keywords:
MTU; portfolio; investment; CPI; portfolio investment liability; portfolio investment assets; portfolio investment statistics; portfolio investment flow; CPI survey; Portfolio investment; Securities; Offshore financial centers; Financial derivatives; Financial account; Global; Western Hemisphere; Middle East; Europe; Asia and Pacific; Africa
Cover IMF Working Papers
The Curious Case of the Yen as a Safe Haven Currency: A Forensic Analysis
Mr. Dennis P Botman, Mr. Irineu E de Carvalho Filho, and Mr. Waikei R Lam
During risk-off episodes, the yen is a safe haven currency and on average appreciates against the U.S. dollar. We investigate the proximate causes of yen risk-off appreciations. We find that neither capital inflows nor expectations of the future monetary policy stance can explain the yen’s safe haven behavior. In contrast, we find evidence that changes in market participants’ risk perceptions trigger derivatives trading, which in turn lead to changes in the spot exchange rate without capital flows. Specifically, we find that risk-off episodes coincide with forward hedging and reduced net short positions or a buildup of net long positions in yen. These empirical findings suggest that offshore and complex financial transactions should be part of spillover analyses and that the effectiveness of capital flow management measures or monetary policy coordination to address excessive exchange rate volatility might be limited in certain cases.
Keywords:
WP; yen; exchange rate; appreciation; risk-off appreciation; Safe Haven; Yen Volatility; Capital Flows; Derivatives; safe haven status; FX derivatives market; derivatives markets transaction; yen appreciation; Exchange rates; Currencies; Real exchange rates; Currency markets; Global
Cover IMF Staff Country Reports
United States: Publication of Financial Sector Assessment Program Documentation: Technical Note on Anti-Money Laundering/Combating the Financing of Terrorism
International Monetary Fund
The Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) regime of the United States is overviewed. The United States has implemented a system that is broadly in line with the international AML/CFT standard. However, many of the recommendations made by the evaluators to address the identified deficiencies have not been addressed, but efforts are under way; notably to introduce a uniform legislation that would require information on beneficial ownership and control of legal persons and arrangements across all the states.
Keywords:
ISCR; CR; AML program; CFT regime; financial institution; CFT obligation; CFT requirement; CFT system; law enforcement authorities; CFT requirements; AML regime; Anti-money laundering and combating the financing of terrorism (AML/CFT); Terrorism financing; Legal support in revenue administration; Money laundering; North America; Asia and Pacific; Global
Cover IMF Working Papers
Effects of Volatile Asset Priceson Balance of Payments and International Investment Position
Mr. Marco Committeri
This paper aims at clarifying, with the help of a simple formal model and numerical examples, several aspects of the relationship between international investment position (IIP) and balance of payments (BOP) statistics. Exact and approximated relations are compared to analyze the estimation accuracy of the most popular data model used to reconcile BOP transaction statistics with IIP and external debt stock statistics, and discuss (a) how such accuracy is affected by volatile asset prices and transactions and (b) how net errors and omissions are related to the model in question. Numerical examples based on equity prices and exchange rates actually observed in the 1990s suggest that the bias might have been especially large for estimates based on less detailed financial information. Serious consideration should be therefore given by national compilers to make use of more detailed financial information in compiling BOP and IIP statistics.
Keywords:
WP; Balance of payments; International investment position; External debt; Statistical accuracy; Errors and omissions; Volatility; Capital flight; transaction volatility; period price; case price dispersion; IMF model; financial asset; Non-transaction adjustment; stock estimator; portfolio investment transaction; Stocks; Exchange rates; Securities; Balance of payments statistics; Asset prices; Global
Cover IMF Staff Country Reports
Republic of Slovenia: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of Slovenia
International Monetary Fund. European Dept.
This Article IV Consultation highlights that the continued structural reforms are key to ensure long-term prosperity, while strengthening the economy’s resilience to shocks. Effective implementation of the recently enacted reforms of vocational training, apprenticeship, and adult education would help address skill shortages, support employment of younger and older people, and boost productivity growth. Macro-financial legacy issues remain in bank and corporate balance sheets, including small and medium enterprises’ nonperforming loans. Structural challenges persist with low productivity growth, skills shortages, high tax wedge, heavy regulatory system, and extensive presence of state-owned enterprises. Policies should focus on fiscal and structural reforms to rebuild fiscal buffers and increase productivity. Slovenia’s external position in 2018 is assessed as substantially stronger than suggested by fundamentals and desirable policies; however the current account is expected to revert toward its norm in the medium term. Continued structural reforms are key to ensure long-term prosperity, while strengthening the economy’s resilience to shocks. Effective implementation of the recently enacted reforms of vocational training, apprenticeship, and adult education would help address skill shortages, support employment of younger and older people, and boost productivity growth.
Keywords:
ISCR; CR; appraisal; item; supplementary information; update of the Draft Budget Plan; government finance statistic yearbook; outturn data; near-term growth prospect; growth-enhancing tax; Fiscal stance; Wages; Global; Europe
Cover IMF Staff Country Reports
Republic of Slovenia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Slovenia
International Monetary Fund. European Dept.
The pandemic is inflicting much suffering, which has been met with swift, substantial, and well-coordinated policy responses. The anti-crisis measures have helped preserve jobs, provide liquidity to companies and income support to the vulnerable groups. They averted a larger decline in output and kept unemployment under control. After contracting by 5.5 percent in 2020, real GDP is projected to grow by 3.9 percent in 2021 and 4.5 percent in 2022, as vaccinations help achieve herd immunity. However, risks to the outlook are large and tilted to the downside, given the epidemiological situation.
Keywords:
savings-investment gap; Policy discussion; money market rate; government finance statistic yearbook; liquidity position; COVID-19; Loans; Nonperforming loans; Government finance statistics; Global
Cover IMF Staff Country Reports
Jordan: 2020 Article IV Consultation and Request for an Extended Arrangement under the Extended Fund Facility-Press Releases; Staff Report; and Statement by the Alternate Executive Director for Jordan
International Monetary Fund. Middle East and Central Asia Dept.
This paper presents Jordan’s 2020 Article IV Consultation and Request for an Extended Arrangement Under the Extended Fund Facility (ECF). Jordan’s IMF-supported economic reform program is anchored on structural reforms designed to spur growth by creating jobs—especially for women and young people—and reduce poverty. The Jordanian economy has continued facing significant challenges. Macroeconomic stability and external buffers have been preserved, but fiscal vulnerabilities remain. Structural reforms and continued fiscal consolidation efforts are critical to lift growth, reduce unemployment and bring debt on a downward path. Continued support from donors, particularly through concessional loans and budget grants, will be critical to help Jordan cope with humanitarian and economic needs. The coronavirus disease 2019 (COVID-19) outbreak poses significant risks to the program implementation. The authorities have implemented measures to help contain the impact of the pandemic; however, adjustments to the program modalities might be necessary considering the rapidly changing circumstances. Donor support through budget grants and concessional financing will be critical to help Jordan cope with the effects of the COVID-19 outbreak and the Syrian refugee crisis and to support program objectives.
Keywords:
ISCR; CR; fiscal consolidation effort; emergency outlay; economic reform program; COVID; authority; Jordanian authorities; program objective; job creation; Electricity; Arrears; Global; Tariffs
Cover IMF Staff Country Reports
Nigeria: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Nigeria
International Monetary Fund. African Dept.
This Article IV Consultation highlights that Nigeria’s economy is still recovering from the substantial terms-of-trade shock that triggered the 2016 recession. Persistent structural and policy challenges constrain growth to below the level needed to reduce vulnerabilities and improve development outcomes. With elections now complete, there is a greater chance for faster policy implementation. The authorities’ Economic Recovery and Growth Plan priorities remain appropriate and should be urgently implemented. Revenue-based fiscal consolidation would be required to create space for higher capital and priority spending while improving spending efficiency and strengthening governance. A comprehensive package of urgent policy reforms is required to address vulnerabilities and raise growth over the medium term. The IMF staff suggested that strengthening banking sector resilience requires increasing capital buffers. This includes extending the no dividend distribution rule to all banks with high restructured loans.
Keywords:
ISCR; CR; ruling party APC candidate; transition committee; reform priority; committee; Nigeria's Independent National Electoral Commission; government plan; Oil prices; Exchange rates; Global; West Africa
Cover IMF Staff Country Reports
Republic of Slovenia: Staff Report for the 2018 Article IV Consultation—Informational Annex