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Law > Business and Financial

You are looking at 1 - 10 of 45 items for :

  • Type: Journal Issue x
  • National Government Expenditures and Related Policies: General x
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Cover IMF Staff Country Reports
Ecuador: Request for an Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Ecuador
International Monetary Fund. Western Hemisphere Dept.
This paper highlights Ecuador’s Request for an Extended Arrangement under the Extended Fund Facility (EFF). The authorities implemented swift and bold measures in early 2024 to address the fiscal and liquidity challenges and requested a 48-month EFF arrangement of SDR 3 billion to support their policy plans and advance an ambitious structural reform agenda. IMF estimates that IMF resources are needed to close a financing gap of about US$4 billion during the program period, after factoring in an ambitious and large fiscal plan, financial support from international financial institutions and official bilateral partners, and renewed access to international capital markets. The baseline scenario under the program is, however, subject to substantive risks, stemming from both external and domestic factors. IMF assesses that the policy program provides a reasonably strong prospect of success, amid broad support to the main objectives of the EFF arrangement, and strong commitment and capacity by the authorities to take measures to ensure its successful implementation.
Keywords:
EFF arrangement; financing strategy; reform agenda; reform sequencing; peak fund exposure; Anti-money laundering and combating the financing of terrorism (AML/CFT); Caribbean; Global
Cover Policy Papers
Review of The Fund’s Capacity Development Strategy—Background Papers
International Monetary Fund. Institute for Capacity Development
This supplement includes five background papers and provides background information on various aspects of capacity development (CD) for the main Board paper, Review of the Fund’s Capacity Development Strategy—Towards a More Flexible, Integrated, and Tailored Model. It is divided into five sections, each consisting of a different background paper. The five sections cover (1) CD Delivery Modalities; (2) Evaluation and Impact; (3) Regional Capacity Development Centers and Field Presence; (4) HR Policies; and (5) Mapping the Fund’s Position vis-à-vis Other CD Providers.
Keywords:
Capacity Development; Technical Assistance; Training; Institution; Priorities; Evaluation; Impact; Field Presence; Regional Capacity Development Training Center; CD Strategy Review; CD department; CD provider; delivery modality; CD staffing model; RCDC CD Delivery; Anti-money laundering and combating the financing of terrorism (AML/CFT); Comparative advantage; Training and development in revenue administration; Global; South America; Asia and Pacific; Sub-Saharan Africa; Maghreb
Cover IMF Staff Country Reports
Jamaica: 2024 Article IV Consultation and Second Reviews Under the Arrangement Under the Precautionary and Liquidity Line and Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Jamaica
International Monetary Fund. Western Hemisphere Dept.
This paper discusses Jamaica’s 2023 Article IV Consultation and Second Reviews under the Arrangement under the Precautionary and Liquidity Line and Arrangement under the Resilience and Sustainability Facility. Over the last decade, Jamaica has successfully reduced public debt, anchored inflation, and strengthened its external position. It has built a strong record of accomplishment of investing in institutions and prioritizing macroeconomic stability. Growth is expected to slow in the coming year—converging to potential—and inflation should stabilize around the central bank’s target. Current policies are building resilience for Jamaica to face adverse shocks. Discussions focused on policy reforms that will continue to bolster the credibility of fiscal and monetary policy frameworks, strengthen financial stability, and raise growth. Medium-term policies to foster equitable growth, tackle supply side constraints and raise productivity can unleash Jamaica’s potential over the medium term. The reform measure to establish a natural disaster reserve fund is also assessed to be met, albeit with a minor deviation—IMF staff assesses that the measure is substantively implemented and that the objective of the reform measure is met.
Keywords:
target band; current share; climate change risk; E. WB engagement; RSF reform; Anti-money laundering and combating the financing of terrorism (AML/CFT); Climate change; Global; Caribbean
Cover Technical Notes and Manuals
Resolving Opaque Bank Ownership and Related-Party Exposures
Edda R Karlsdóttir, Rachid Awad, Ender Emre, Alessandro Gullo, Aldona Jociene, and Constant Verkoren
This note intends to provide advice to bank supervision and resolution authorities and policymakers seeking to deal with opaque bank ownership or significant overhang of related-party exposures.
Keywords:
bank Ownership structures; bank Ownership transparency; IMF Library; bank owner; related-party transaction; Basel Core Principles; Anti-money laundering and combating the financing of terrorism (AML/CFT); Bank resolution; State-owned banks; Global
Cover IMF Staff Country Reports
Republic of Fiji: 2023 Article IV Consultation-Press Release; and Staff Report
International Monetary Fund. Asia and Pacific Dept
The 2023 Article IV Consultation discusses that Fiji’s economy rebounded strongly in 2022, as tourism recovered rapidly. With the rapid rebound in tourism, the economy is experiencing a strong recovery. Nevertheless, significant risks to growth remain both on the demand side—due to the global outlook—and on the supply side—due to capacity constraints and price competitiveness. The recovery and ongoing broad consultations make the upcoming budget a critical opportunity to begin rebuilding Fiji’s fiscal space and reducing vulnerability. Monetary policy needs to begin shifting now to a more neutral stance, amidst growing uncertainty to the outlook for inflation and foreign reserves. Addressing the implementation challenges of Fiji’s climate plans will require increased efforts and financing. Advancing climate adaptation plans will help Fiji transition to a more sustainable and resilient growth model. Accelerating investments on renewable energy will help Fiji diversify its energy sources and reduce external imbalances. However, Fiji’s climate adaptation and mitigation plans face significant challenges, including shortfalls in climate financing, implementation capacity, and investment management.
Keywords:
maturity proceeds; relocation plan; climate plan; airline ticket sale; CPI data; Government finance statistics; Exchange restrictions; Global; Pacific Islands
Cover IMF Staff Country Reports
Republic of Fiji: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Fiji
International Monetary Fund. Asia and Pacific Dept
This 2019 Article IV Consultation with the Republic of Fiji highlights that economic activity slowed sharply in 2019 due to lower government spending, tighter domestic financial conditions, weak sentiment, and the global deceleration. The slowdown followed several years of relatively strong growth, boosted by reconstruction spending after a major cyclone in 2016, which resulted in rising external and fiscal imbalances. Fiscal space is now at risk and external vulnerabilities remain significant. Fiji has large investment needs to strengthen resilience to natural disasters and climate change. A key priority should be to rebuild fiscal buffers in a growth-friendly way to create space to respond to future natural disasters and to ensure public debt sustainability. Fiscal consolidation should focus on reining in current spending given limited scope for further revenue mobilization and the need for capital spending to improve resilience to climate change. Improvements in the business environment and in governance are essential to raise potential growth and boost private investment, and to enhance productivity and competitiveness.
Keywords:
ISCR; CR; authority; Fiji; economy; Fijian authorities; Fijian economy; priority investment; growth outlook; long-term climate action plan; Anti-money laundering and combating the financing of terrorism (AML/CFT); Government debt management; Credit bureaus; Global; Pacific Islands; International reserves
Cover IMF Staff Country Reports
Jamaica: Sixth Review Under the Stand-By Arrangements-Press Release; Staff Report; and Statement by the Executive Direct for Jamaica
International Monetary Fund. Western Hemisphere Dept.
This paper discusses Jamaica’s Sixth Review Under the Stand-By Arrangement (SBA). All quantitative performance criteria, indicative targets, and the structural benchmark at end-June were met, marking a successful completion of the SBA. Discussions centered on policies to lock-in macroeconomic stability and advance supply-side reforms to promote inclusive growth, including: building institutions and advancing fiscal reforms to safeguard and sustain economic stability and debt reduction; improving monetary operations and policy transmission; and bolstering financial inclusion, access to credit, and formality. Most structural policy commitments are on track, although some key reforms to public sector transformation, the compensation framework for public employees, legislation to establish a fiscal council, and creating a special resolution regime for financial institutions have been delayed due to capacity constraints and the need to build stakeholder support for these reforms. Important gains have been made in the oversight of financial institutions.
Keywords:
ISCR; CR; policy; IMF's Executive Board; governance framework; reform commitment; government; implementing policy; fund program arrangement; Public sector; PFM legal and regulatory frameworks; Fuel prices; Global