Safeguards Assessments - 2014 Update

Safeguards Assessments - 2014 Update
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 16
Release: 2014-05-09
Genre: Business & Economics
ISBN: 1498342787

The safeguards policy aims to mitigate the potential risks of misuse of resources, including Fund resources, and misreporting of program monetary data. The policy, introduced in 2000, is an integral part of the Fund’s financing policies and complements other safeguards, such as program design, conditionality, and access limits. Safeguards assessments of central banks of the borrowing member are required for almost all forms of Fund financing, and are followed by a period of monitoring for as long as Fund credit is outstanding.

Safeguards Assessments Policy - External Expert Panel's Advisory Report

Safeguards Assessments Policy - External Expert Panel's Advisory Report
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 39
Release: 2015-09-24
Genre: Business & Economics
ISBN: 1498344178

This report by the external expert panel (“the panel”) examines the effectiveness and appropriateness of the safeguards assessments policy in the five years since its last review in 2010. In addition to expressing an opinion on the effectiveness and appropriateness of the safeguards assessment policy, the panel also makes recommendations to the Executive Board for its consideration to improve and optimize the benefits to be garnered from the safeguards assessment policy. The panel’s opinion is based on (i) consultations with key stakeholders, including central bank authorities, IMF Executive Directors’ offices, Fund and World Bank staff; (ii) examination of safeguards assessment and other Fund-specific documents; and (iii) study of international reference materials.

Safeguards Assessments - Review of Experience

Safeguards Assessments - Review of Experience
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 43
Release: 2015-09-23
Genre: Business & Economics
ISBN: 1498344186

This paper reviews experience with the safeguards assessment policy since the last review in 2010. The policy is subject to periodic reviews by the Executive Board. The policy’s main objective is to mitigate risks of misuse of Fund resources and misreporting of monetary data under Fund arrangements. Consistent with past reviews, an external panel of experts provided an independent perspective on the implementation of the policy.

Safeguards Assessments - 2022 Review of Experience

Safeguards Assessments - 2022 Review of Experience
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
Total Pages: 45
Release: 2022-12-16
Genre: Business & Economics
ISBN:

This paper reviews experience with the safeguards assessment policy since the last review in 2015. The policy is subject to periodic reviews by the Executive Board. The policy’s main objective is to mitigate risks of misuse of Fund resources and misreporting of monetary data under Fund arrangements. Consistent with past reviews, an external panel of experts provided an independent perspective on the implementation of the policy.

United Republic of Tanzania

United Republic of Tanzania
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
Total Pages: 106
Release: 2016-07-27
Genre: Business & Economics
ISBN: 147553955X

This 2016 Article IV Consultation highlights that growth in Tanzania has remained strong and inflation moderate during the past two years. Real GDP grew by 7 percent in 2015, with activity particularly buoyant in the construction, communication, finance, and transportation sectors. Inflation remained in single digits throughout 2015, averaging 5.6 percent, despite the significant exchange rate depreciation in the first half of 2015. Inflation in April 2016 was 5.1 percent, close to the authorities’ target of 5 percent. The banking system appears sound overall, but there is wide variation within the system. The level of financial development has improved in recent years, though at a gradual pace.

Dominica

Dominica
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
Total Pages: 69
Release: 2018-09-04
Genre: Nature
ISBN: 1484374797

This 2018 Article IV Consultation highlights that in 2018, Dominica’s output is projected to decline by 14 percent and to take about 5 years to recover to pre-hurricane levels. The fall in output and government revenue, coupled with increased expenditure for rehabilitation and reconstruction, will lead to a substantial worsening of fiscal and external deficits. However, signs of recovery, particularly in construction and the public sector, have already started to emerge. The risks to the outlook include the budget becoming financially constrained and unable to sustain adequate investment given high debt, limited buffers, weak revenue, and urgent needs for reconstruction spending. Other risks include financial instability stemming from undercapitalization of systemic financial institutions, recurrent natural disasters, and external competitiveness challenges.

Morocco

Morocco
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
Total Pages: 62
Release: 2016-02-08
Genre: Business & Economics
ISBN: 1484391950

The 2015 Article IV Consultation discusses key issues related to the economic growth of Morocco. The macroeconomic situation of Morocco continues to improve. Although growth is recovering and should reach 4.7 percent in 2015, nonagricultural activity remains sluggish and inflation remains low. In 2016, growth will be affected by a base effect following the very good 2015 agricultural season, but a gradual recovery is expected in 2017. Although recent policy action and a more favorable external environment have yielded macroeconomic improvements, the reform needs to be maintained to secure longer-term stability and raise growth potential. Much remains to be done to secure higher and more inclusive growth.

Romania

Romania
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
Total Pages: 106
Release: 2014-04-01
Genre: Business & Economics
ISBN: 1475579500

This first and second reviews under the Stand-By-Arrangement analyzes Ex Post Evaluation of exceptional access for Romania. Efforts are needed to strengthen monetary policy transmission. The banking system remains well capitalized, but the authorities need to accelerate the resolution of nonperforming loans and closely monitor risks from parent bank deleveraging. The Romanian authorities continue their efforts to reach the goals of a broad structural agenda, with a focus on structural reforms in the energy, transport and healthcare sectors, and continue the reform of the state-owned enterprises.

St. Lucia

St. Lucia
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
Total Pages: 79
Release: 2016-02-18
Genre: Business & Economics
ISBN: 149834626X

A moderate economic recovery is taking hold in St. Lucia. Favorable international conditions have contributed to improved demand for tourism, St. Lucia’s main economic sector, and the external current account deficit has narrowed significantly. The authorities have made some progress in addressing a weak fiscal position. However, the financial sector continues to be impaired by nonperforming loans, public debt keeps rising, and unemployment remains very high, while external sector competitiveness continues to be weakened by an overvalued exchange rate, economies of scale disadvantages, and structural bottlenecks.

Ukraine

Ukraine
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
Total Pages: 175
Release: 2017-04-04
Genre: Business & Economics
ISBN: 1475592574

Following the 2014–15 crisis, the economy is growing again and tight fiscal and monetary policies have greatly reduced internal and external imbalances. Inflation has been successfully brought down and reserves—while still being relatively low—have doubled to US$15 billion. The pace of the recovery, however, has been modest, and faster growth is needed if Ukraine is to catch up with its regional peers and lift per capita income levels that have declined to among the lowest in the region.