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International Monetary Fund. Monetary and Capital Markets Department
This paper presents an assessment of the observance of IAIS (International Association of Insurance Supervisors) insurance core principles in Turkey. During the last five years, the government of Turkey has made a significant effort to improve regulation and supervision of insurance and to improve adherence to international standards. The efficiency of information reporting, insurer monitoring, and supervision has greatly increased. Solvency tests have been strengthened. Reserving and investment practices have been improved. Improvements have been made in international cooperation and information exchange. However, major regulatory and supervisory challenges remain for Turkey to increase confidence in the sector and benefit from its continued growth.
International Monetary Fund. External Relations Dept.
IMF Managing Director Horst Köhler traveled to Latin America on December 6-12 to offer the IMF’s support to the region, where several large countries are working hard to stabilize their economies, following Argentina’s difficulties. “At the end of the trip,” Köhler said, “I remain convinced that lessons from successes in the region can help point the way forward for other countries currently experiencing difficulties.” Köhler’s three-nation tour, which he undertook at the invitation of the presidents of Brazil, Colombia, and Chile, was his second visit to Latin America since he took over the reins at the IMF in May 2000.
International Monetary Fund. External Relations Dept.
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