2017 Staff Guidance Note On The Fund S Engagement With Small Developing States
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2017 Staff Guidance Note On The Fund S Engagement With Small Developing States
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2018-01-26
2017 Staff Guidance Note On The Fund S Engagement With Small Developing States written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-26 with Nature categories.
"This guidance note highlights the unique economic characteristics and constraints facing small developing states. It provides operational guidance on Fund engagement with such countries, including on how small state characteristics might shape Fund surveillance and financial support, program design, capacity building activities, and collaboration with other institutions and donors. The note updates the previous version that was published in May 2014. It incorporates modifications resulting from Board papers and related Executive Board discussions that have taken place since the March 2013 Board papers on small states, which provided the foundations of the original guidance note. Based on these inputs, five key thematic areas (G.R.O.W.TH.) have been identified as central to the policy dialogue: • Growth and job creation. With small states experiencing relatively weak growth since the 1990s, Fund staff working on small states should ensure an explicit focus on growth in both surveillance and program-related work. • Resilience to shocks. Small states experience higher macroeconomic volatility and more frequent natural disasters. Staff should be ready to advise on how to tailor macroeconomic policies to provide greater resilience to shocks and climate change. • Overall competitiveness. Options to improve relative prices may include exchange rate adjustment (where possible) or measures supportive of internal devaluation (if not), and efforts to improve the business climate, including through regional initiatives. • Workable fiscal and debt sustainability options. With many small states having very high debt burdens, reducing debt to manageable levels requires sustained fiscal consolidation with supporting policies and structural reforms. In cases where the amount of adjustment needed to restore debt sustainability is not feasible or adequate financing is not available, debt restructuring may be needed. • Thin financial sectors. Developing deeper and more competitive, yet sound, financial sectors contributes to macroeconomic stability and enhances the effectiveness of policy interventions while strengthening competitiveness by improving business access to financial services."
2024 Staff Guidance Note On The Imf S Engagement With Small Developing States
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2024-07-25
2024 Staff Guidance Note On The Imf S Engagement With Small Developing States written by International Monetary Fund. Strategy, Policy, & Review Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-07-25 with categories.
This guidance note provides operational guidance on the Fund’s engagement with small developing states (SDS). It highlights the unique economic characteristics and constraints facing SDS, notably in a more shock-prone world. Building on advice that applies to the full membership, the note explains how the characteristics of SDS shape Fund surveillance, financial support and program design, capacity development (CD), and collaboration with other institutions and donors. The note updates the previous version that was published in December 2017.
Fiscal Policy Multipliers In Small States
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Author : Ali Alichi
language : en
Publisher: International Monetary Fund
Release Date : 2019-03-26
Fiscal Policy Multipliers In Small States written by Ali Alichi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-26 with Business & Economics categories.
Government debt in many small states has risen beyond sustainable levels and some governments are considering fiscal consolidation. This paper estimates fiscal policy multipliers for small states using two distinct models: an empirical forecast error model with data from 23 small states across the world; and a Dynamic Stochastic General Equilibrium (DSGE) model calibrated to a hypothetical small state’s economy. The results suggest that fiscal policy using government current primary spending is ineffective, but using government investment is very potent in small states in affecting the level of their GDP over the medium term. These results are robust to different model specifications and characteristics of small states. Inability to affect GDP using current primary spending could be frustrating for policymakers when an expansionary policy is needed, but encouraging at the current juncture when many governments are considering fiscal consolidation. For the short term, however, multipliers for government current primary spending are larger and affected by imports as share of GDP, level of government debt, and position of the economy in the business cycle, among other factors.
International Organizations And Small States
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Author : Jack Corbett
language : en
Publisher: Policy Press
Release Date : 2023-03-14
International Organizations And Small States written by Jack Corbett and has been published by Policy Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-14 with Political Science categories.
This path-breaking book shows the efforts that small states have made to participate more fully in International Organizations (IOs).
Small States Economic Review And Basic Statistics Volume 20
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Author : Commonwealth Secretariat
language : en
Publisher: Commonwealth Secretariat
Release Date : 2018-04-23
Small States Economic Review And Basic Statistics Volume 20 written by Commonwealth Secretariat and has been published by Commonwealth Secretariat this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-23 with Business & Economics categories.
Small States: Economic Review and Basic Statistics is a flagship publication of the Commonwealth Secretariat highlighting the development indicators of small states and disseminating knowledge on their economic performance. This milestone 20th volume looks back at the progress of small states over the past 25 years. It also takes stock of the Commonwealth Secretariat’s contribution to the international discourse on small states and the development of the states themselves.
Globalization And Entrepreneurship In Small Countries
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Author : Mirjana Radović-Marković
language : en
Publisher: Routledge
Release Date : 2019-05-30
Globalization And Entrepreneurship In Small Countries written by Mirjana Radović-Marković and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-30 with Business & Economics categories.
The changeable business environment requires a new business framework and an understanding of the global market trends and the culture that will impact on business. Globalization and Entrepreneurship in Small Countries considers important business principles and makes them accessible for entrepreneurs and small business owners. It addresses the role of managers and leaders and management techniques in the context of global strategy of companies, as well as the culture diversity that comes with globalization of organizations. To meet the constantly changing conditions and demands, business must transcend boundaries to get what it needs regardless of where it exists – geographically, organizationally, and functionally. This book draws together earlier literature on SME development and internationalization from disparate sources into a cohesive body of work, which traces the evolution of our understanding of the topic. It explores just how globalization affects the demand for business and entrepreneurship, and will therefore be of interest to researchers, academics, policymakers, and students in the fields of entrepreneurship, globalisation, organisational studies, and SMEs development in small countries.
Guidance Note For Developing Government Local Currency Bond Markets
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2021-03-12
Guidance Note For Developing Government Local Currency Bond Markets written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-12 with Business & Economics categories.
This guidance note was prepared by International Monetary Fund (IMF) and World Bank Group staff under a project undertaken with the support of grants from the Financial Sector Reform and Strengthening Initiative, (FIRST).The aim of the project was to deliver a report that provides emerging market and developing economies with guidance and a roadmap in developing their local currency bond markets (LCBMs). This note will also inform technical assistance missions in advising authorities on the formulation of policies to deepen LCBMs.
Operational Guidance Note On Program Design And Conditionality
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2024-01-30
Operational Guidance Note On Program Design And Conditionality written by International Monetary Fund. Strategy, Policy, & Review Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-30 with Business & Economics categories.
This note aims to provide guidance on the key principles and considerations underlying the design of Fund-supported programs. The note expands on the previous operational guidance notes on conditionality published over 2003-2014, incorporating lessons from the 2018-19 Review of Conditionality, and other recent key policy developments including the recommendation of the Management’s Implementation Plan in response to Independent Evaluation Office (IEO)’s report on growth and adjustment in IMF-supported programs. The note in particular highlights operational advice to (i) improve the realism of macroeconomic forecast in programs and fostering a more systematic analysis of contingency plans and risks; (ii) improve the focus, depth, implementation, and tailoring of structural conditions (SCs), with due consideration of growth effects; and (iii) help strengthen the ownership of country authorities. Designed as a comprehensive reference and primer on program design and conditionality in an accessible and transparent manner, the note refers in summary to a broad range of economic and policy considerations over the lifecycle of Fund-supported programs. As with all guidance notes, the relevant IMF Executive Board Decisions remain the primary legal authority on matters covered in this note.
Staff Guidance Note On Macroprudential Policy
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2014-06-11
Staff Guidance Note On Macroprudential Policy written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-11 with Business & Economics categories.
This note provides guidance to facilitate the staff’s advice on macroprudential policy in Fund surveillance. It elaborates on the principles set out in the “Key Aspects of Macroprudential Policy,” taking into account the work of international standard setters as well as the evolving country experience with macroprudential policy. The main note is accompanied by supplements offering Detailed Guidance on Instruments and Considerations for Low Income Countries
Eastern Caribbean Currency Union
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Author : International Monetary Fund. Western Hemisphere Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-02-22
Eastern Caribbean Currency Union written by International Monetary Fund. Western Hemisphere Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-22 with Business & Economics categories.
This Selected Issues paper presents a quantification of the long-term benefits of ex-ante resilient investment and insurance needs against natural disasters (ND) in Eastern Caribbean Currency Union (ECCU). Cost-benefit analysis of resilient investment based on a dynamic stochastic general equilibrium model tailored to small states and calibrated to all ECCU economies is also discussed in the paper. The model’s aggregate production function illustrates the interaction among the participating sectors and their contribution to output, ultimately informing the role of resilient investment. The study also quantifies government insurance coverage needs and costs using an empirical stochastic model that simulates NDs fiscal costs. The insurance needs are framed within the World Bank insurance layering framework. The results in this paper underscore the importance of a shift from ex-post recovery to a focus on ex-ante resilience building. Ex-ante resilient investment and insurance are key to the welfare and financial sustainability of the ECCU, given high intensity and recurrence of NDs.