Guidance Note On Implementing The Debt Limits Policy In Fund Supported Programs
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Guidance Note On Implementing The Debt Limits Policy In Fund Supported Programs
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-05-25
Guidance Note On Implementing The Debt Limits Policy In Fund Supported Programs written by International Monetary 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 2021-05-25 with Business & Economics categories.
The Debt Limits Policy (DLP) establishes the framework for using quantitative conditionality to address debt vulnerabilities in IMF-supported programs. In October 2020, the Executive Board approved reforms to the DLP which will enter into effect on June 30, 2021. The risk-based approach to setting debt conditionality informed by Debt Sustainability Analyses under the previous DLP approved in 2014 is maintained. The reforms aim to provide countries with more financing flexibility in practice while still adequately containing debt vulnerabilities through appropriate safeguards. This note provides operational and technical guidance related to the implementation of the DLP, including the operationalization of the approved reforms. In particular, it outlines the core principles underpinning the DLP, including when debt conditionality in IMF-supported programs is warranted and how to account for country-specific circumstances in the design of debt limits. The note also describes the process of setting and implementing debt conditionality, including: (i) identifying debt vulnerabilities to inform the focus of debt conditionality; (ii) designing debt conditionality; and (iii) implementing debt conditionality through the review cycle. The Guidance Note is intended for use by both IMF staff and country officials. In this regard, in addition to the guidance presented in the main body, the note also contains several annexes that cover definitional, technical, and operational issues arising in the determination and implementation of public debt limits.
Staff Guidance Note On The Implementation Of Public Debt Limits In Fund Supported Programs
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2015-05-28
Staff Guidance Note On The Implementation Of Public Debt Limits In Fund Supported Programs 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 2015-05-28 with Business & Economics categories.
In December 2014, the Executive Board approved new guidelines on the use of public debt limits in Fund-supported programs. The new guidelines enter into effect on June 30, 2015. The key changes with respect to the existing debt limits policy include, inter alia, the broadening of the policy to encompass all public debt rather than only external public debt; an integrated treatment of external public debt, covering both concessional and non-concessional debt; and closer links between public debt vulnerabilities and the use and specification of public debt conditionality. This note provides operational and technical guidance related to the implementation of the debt limits policy. In particular, it sets out how the policy should be implemented in country-specific circumstances. Full text also available in French
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
Reform Of The Policy On Public Debt Limits In Imf Supported Programs
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2020-11-11
Reform Of The Policy On Public Debt Limits In Imf Supported Programs 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 2020-11-11 with Business & Economics categories.
This paper evaluates the IMF’s policy on the use of quantitative limits on public debt in IMF-supported programs (the “debt limits policy”) and proposes a number of modifications. The review is taking place at a time when many countries are experiencing heightened debt vulnerabilities or actual debt distress, aggravated by the COVID-19 shock, and occurring against the backdrop of a changing credit landscape in which concessional finance is scarcer relative to countries’ investment needs.
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.
Guidelines For Public Debt Management Amended
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2003-09-12
Guidelines For Public Debt Management Amended 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 2003-09-12 with Business & Economics categories.
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Kenya
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2004-01-08
Kenya 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 2004-01-08 with Business & Economics categories.
This report of the Debt Sustainability Analysis (DSA) indicates that the envisaged strategy of a partial substitution of domestic debt by increased inflows of external grants and concessional loans, as well as a rescheduling of external debt by the Paris and London Clubs, would facilitate the achievement of debt sustainability. The DSA also confirms that such a debt rescheduling could constitute an appropriate exit strategy for Kenya. The DSA also shows that debt sustainability would improve significantly with a concessional rescheduling, particularly under the Naples terms.
Guidance Note For Fund Staff On The Treatment And Use Of Sdr Allocations
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2009-08-28
Guidance Note For Fund Staff On The Treatment And Use Of Sdr Allocations 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 2009-08-28 with Business & Economics categories.
Against the backdrop of the global financial crisis, the IMF has decided to implement a US$250 billion general allocation of special drawing rights (SDRs). In addition, the Fourth Amendment of the Fund’s Articles of Agreement has recently become effective, and will make available to SDR Department participants a special allocation of up to an additional SDR 21.5 billion (US$33 billion). Nearly US$115 billion of these combined allocations will go to emerging market and developing countries, including about US$20 billion to low-income countries (LICs), thereby providing an important boost to the reserves of countries with the greatest needs.
Revised Guidelines For Public Debt Management
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Author : International Monetary Fund,
language : en
Publisher: International Monetary Fund
Release Date : 2015-03-11
Revised Guidelines For Public Debt Management 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 2015-03-11 with Business & Economics categories.
The Revised Guidelines for Public Debt Management have been developed as part of a broader work program undertaken by the IMF and the World Bank to strengthen the international financial architecture, promote policies and practices that contribute to financial stability and transparency, and reduce countries external vulnerabilities.
Staff Guidance Note On Debt Limits In Fund Supported Programs
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2009-12-22
Staff Guidance Note On Debt Limits In Fund Supported Programs 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 2009-12-22 with Business & Economics categories.
In August 2009, the Executive Board approved new guidelines on external debt limits in Fund-supported programs. Debt limits seek to prevent the build-up of unsustainable debts, while allowing for adequate external financing. The new framework moves away from a single design for debt limits (or, to use the usual terminology, concessionality requirements) towards a more flexible approach.