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| Author | : International Monetary Fund. Monetary and Financial Systems Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 30 |
| Release | : 2003-12-23 |
| Genre | : Business & Economics |
| ISBN | : 1498328903 |
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| Author | : Mr.J. D. Craig |
| Publisher | : International Monetary Fund |
| Total Pages | : 50 |
| Release | : 1998-02-03 |
| Genre | : Business & Economics |
| ISBN | : 155775697X |
Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its April and September 1996 meetings, stressed the need for greater fiscal transparency. Prompted by these concerns, this paper represents a first attempt to address many of the aspects of transparency in government operations. It provides an overview of major issues in fiscal transparency and examines the IMF's role in promoting transparency in government operations.
| Author | : International Monetary Fund. Monetary and Capital Markets Department |
| Publisher | : INTERNATIONAL MONETARY FUND |
| Total Pages | : 132 |
| Release | : 2020-07-30 |
| Genre | : Business & Economics |
| ISBN | : 9781513551814 |
The paper reports to the Executive Board on its decision of April 29, 2019, to prepare an IMF Central Bank Transparency Code (CBT), which is linked to the 2017 Review of the Standards and Codes Initiative (RSCI), for a revision and update of the 1999 Monetary and Financial Policies Transparency Code (MFPT). Directors asked that the CBT should remove the overlap on financial policies covered by other international standards, expand the transparency standards to broader set of activities undertaken by many central banks since the 2008 financial crisis, and reorient the transparency standards to facilitate risk-based assessments to support policy effectiveness and address macroeconomic risks.
| Author | : |
| Publisher | : International Monetary Fund |
| Total Pages | : 162 |
| Release | : 2007-10-19 |
| Genre | : Business & Economics |
| ISBN | : |
Provides an authoritative account and explanation of the revised IMF Code of Good Practices on Fiscal Transparency (the Code), used by countries undertaking assessments of the transparency of their fiscal management practices (including so-called fiscal ROSCs), legislatures, civil society organizations, economists, and financial analysts. Supplemented by the revised Guide on Resource Revenue Transparency, it identifies numerous benefits from fiscal transparency, including providing citizens with information to hold governments accountable for their policy choices, informing and improving the quality of economic policy decisions, highlighting potential risks to the fiscal outlook, and easing a country's access to international capital markets.--Publisher's description.
| Author | : Yongseok Shin |
| Publisher | : International Monetary Fund |
| Total Pages | : 48 |
| Release | : 2003-06-01 |
| Genre | : Computers |
| ISBN | : 1451855400 |
This paper finds that reforms introduced by the IMF to promote transparency have created more informed markets and reduced borrowing costs for those emerging market countries that volunteered for them. Using a quarterly panel estimation with fixed country effects, we find that sovereign spreads fall following the adoption of three different transparency reforms. The effects are economically important, especially for those countries with low initial transparency. We use two-stage least squares to address any endogeneity in the timing of reforms exploiting internal IMF timetables that are unrelated to country events. Next, using a panel GARCH specification, we show that spreads move more than normal in the days immediately following publication of IMF country documents.
| Author | : World Bank |
| Publisher | : World Bank Publications |
| Total Pages | : 494 |
| Release | : 2005-09-29 |
| Genre | : Business & Economics |
| ISBN | : 9780821364321 |
In the wake of the financial crises of the late 1990s, there was a surge of interest in the systematic assessment of financial sectors, with a view to identifying vulnerabilities and evaluating the sector's developmental needs. Consequently, there has been an increased demand from financial sector authorities in many countries for information on key issues and sound practices in the assessment of financial systems and the appropriate design of policy responses. In response, Financial Sector Assessmsnet presents a general analytical framework and broad guidance on approaches, methodologies and key techniques for assessing the stability and development needs of financial systems. It synthesizes current global sound practices in financial sector assessment.
| Author | : International Monetary Fund. Monetary and Capital Markets Department |
| Publisher | : International Monetary Fund |
| Total Pages | : 33 |
| Release | : 2011-03-14 |
| Genre | : Business & Economics |
| ISBN | : 1498339174 |
MCM conducted a survey in December 2010 to take stock of international experiences with financial stability and the evolving macroprudential policy framework. The survey was designed to seek information in three broad areas: the institutional setup for macroprudential policy, the analytical approach to systemic risk monitoring, and the macroprudential policy toolkit. The survey was sent to 63 countries and the European Central Bank (ECB), including all countries in the G-20 and those subject to mandatory Financial Sector Assessment Programs (FSAPs). The target list is designed to cover a broad range of jurisdictions in all regions, but more weight is given to economies that are systemically important (see Annex for details). The response rate is 80 percent. This note provides a summary of the survey’s main findings.
| Author | : Mr.Atilla Arda |
| Publisher | : International Monetary Fund |
| Total Pages | : 42 |
| Release | : 2018-09-11 |
| Genre | : Business & Economics |
| ISBN | : 1484375505 |
This paper takes stock of external audit arrangements at central banks. Its focus is on the annual audit of central bank financial statements, as well as legal and institutional measures that support audit quality and independence. The paper outlines good practices in these areas and provides a summary of actual practices observed based on a review of audited financial statements and central bank legislation. While the audit frameworks for central banks differ depending on their legal and institutional circumstances, central banks’ external audits increasingly follow international standards. Most of them are audited by auditors with international affiliations and embrace modern governance structures that provide for audit oversight. However, the paper also notes that a sizeable number of central banks do not publish the audit results in a timely manner, which leaves room for improvement in transparency practices.
| Author | : Mr.Bernardin Akitoby |
| Publisher | : International Monetary Fund |
| Total Pages | : 66 |
| Release | : 2020-05-11 |
| Genre | : Business & Economics |
| ISBN | : 1513532839 |
This departmental paper investigates how countries in Central, Eastern, and Southeastern Europe (CESEE) can improve fiscal transparency, thereby raising government efficiency and reducing corruption vulnerabilities.
| Author | : Wouter Bossu |
| Publisher | : International Monetary Fund |
| Total Pages | : 71 |
| Release | : 2019-12-27 |
| Genre | : Business & Economics |
| ISBN | : 1513524054 |
This paper discusses key legal issues in the design of Board Oversight in central banks. Central banks are complex and sophisticated organizations that are challenging to manage. While most economic literature focuses on decision-making in the context of monetary policy formulation, this paper focuses on the Board oversight of central banks—a central feature of sound governance. This form of oversight is the decision-making responsibility through which an internal body of the central bank—the Oversight Board—ensures that the central bank is well-managed. First, the paper will contextualize the role of Board oversight into the broader legal structure for central bank governance by considering this form of oversight as one of the core decision-making responsibilities of central banks. Secondly, the paper will focus on a number of important legal design issues for Board Oversight, by contrasting the current practices of the IMF membership’s 174 central banks with staff’s advisory practice developed over the past 50 years.
