Implementation Of The Policy Support Instrument
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Implementation Of The Policy Support Instrument
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Author : International Monetary Fund. Policy Development and Review Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2005-02-09
Implementation Of The Policy Support Instrument written by International Monetary Fund. Policy Development and Review 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 2005-02-09 with Political Science categories.
Within the terms of the proposed decisions, staff has formulated specific proposals on a number of issues raised in general terms during the previous Board discussion: (i) the modalities for a fixed schedule of reviews, including how to signal that a program is back on track; (ii) the application of a misreporting framework under the PSI; and (iii) the relationship between the PSI and the PRS process.
Review Of The Experience With The Policy Support Instrument
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2009-04-06
Review Of The Experience With The Policy Support Instrument 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 2009-04-06 with Business & Economics categories.
This review is focused mainly on the implementation of the Policy Support Instrument (PSI) against the goals and expectations set out by the Executive Board. Some possible modifications to the PSI that have been considered by various stakeholders are also touched upon in the concluding section. This review was conducted in parallel with ongoing work on a new architecture of lending facilities for low-income countries (LIC). Based on the results of this review, the reform of LIC facilities is not expected to alter the case for the PSI as a complement to financing instruments.
Review Of The Policy Coordination Instrument And Proposal To Eliminate The Policy Support Instrument
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2023-10-06
Review Of The Policy Coordination Instrument And Proposal To Eliminate The Policy Support Instrument 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 2023-10-06 with Business & Economics categories.
The Policy Coordination Instrument (PCI) is a non-financial instrument designed to help countries demonstrate commitment to a reform agenda and unlock financing from other sources. Established in 2017, the PCI aims to support countries in designing and implementing a full-fledged macroeconomic program of policies to address imbalances, prevent crises, build buffers, and enhance stability. The PCI enables closer cooperation with the Fund in cases where countries commit to upper-credit tranche (UCT) quality policies and more intensive monitoring. However, at the time of requesting a PCI, such countries must not be seeking financial assistance from the General Resources Account (GRA) and the Poverty Reduction and Growth Trust (PRGT). The design, request, and review process of the PCI are structured based on Fund arrangements, with several design features drawing on the Policy Support Instrument (PSI). Similar to the PSI, the PCI is a form of technical assistance. However, unlike the PSI, which is restricted to PRGT-eligible members, the PCI is available to all member countries.
Adequacy Of The Global Financial Safety Net Proposal For A New Policy Coordination Instrument
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2017-07-26
Adequacy Of The Global Financial Safety Net Proposal For A New Policy Coordination Instrument 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 2017-07-26 with Business & Economics categories.
The global financial safety net (GFSN) has become larger and more decentralized, creating a need for greater coordination. The expanded GFSN has created multiple sources of official financing for countries in need of support to address balance of payments shocks. Enhanced coordination among these layers would facilitate a more efficient use of global resources and provide better incentives for implementing sound policies. A new non-financing Policy Coordination Instrument (PCI) would address gaps in the GFSN and the Fund’s toolkit. The new Policy Coordination Instrument is designed for countries that are seeking to unlock financing from multiple sources and/or to demonstrate a commitment to a reform agenda. It would enable a closer policy dialogue between the Fund and countries, more regular monitoring of economic developments and policies, as well as Board endorsement of those policies. It would be available for all member countries. The key design features draw on Fund financing arrangements and the Policy Support Instrument (PSI), with some important differences. These include no qualification criteria, a review-based approach for monitoring of conditionality, and a more flexible review schedule. The PCI is part of a broader set of Fund policy proposals to improve coordination with RFAs, enhance liquidity provision for members, and ensure the cohesion of the Fund’s toolkit. The IMFC and the G20 called for further work to strengthen the GFSN and to improve cooperation between the Fund and regional financing arrangements (RFAs). In response, the Fund has produced a diagnostic of the GFSN and the Fund’s toolkit and identified important gaps. Introduction of the PCI, when considered together with the other proposals, will help to move towards a GFSN with improved coverage, more reliable support, and better coordination between the various layers.
Cape Verde Sixth Review Under The Policy Support Instrument And Request For A One Year Extension Of The Policy Support Instrument Staff Report Press Release
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Author : International Monetary Fund
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2009-06-30
Cape Verde Sixth Review Under The Policy Support Instrument And Request For A One Year Extension Of The Policy Support Instrument Staff Report Press Release 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 2009-06-30 with categories.
This paper discusses key findings of the Sixth Review under the Policy Support Instrument (PSI) for Cape Verde. Policy implementation under the PSI-supported program continues to be strong; all PSIs quantitative targets except for one at end-December 2008 were met. In 2009, real GDP growth is expected to decelerate as external demand and private sector growth weakens. IMF staff recommends completion of the sixth PSI review and granting of the waiver on the nonobservance of the assessment criterion on net domestic assets of the Bank of Cape Verde.
Modifications Of The Fund S Conditionality Framework Application To The Policy Support Instrument
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Author : International Monetary Fund. Legal Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2009-04-13
Modifications Of The Fund S Conditionality Framework Application To The Policy Support Instrument written by International Monetary Fund. Legal 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 2009-04-13 with Business & Economics categories.
In connection with its recent review of the GRA Lending Toolkit and Conditionality—Reform Proposals, the Executive Board decided that the Fund would move to a review-based approach to monitor the implementation of structural reforms in the context of Fund-supported programs, including under PRGF or ESF arrangements.
Republic Of Tanzania
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2018-01-16
Republic Of Tanzania 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 2018-01-16 with Business & Economics categories.
This paper discusses Tanzania’s Seventh Review Under the Policy Support Instrument (PSI). Program performance under the PSI has been broadly satisfactory. Most quantitative targets for June and September 2017 were met. Although progress in structural reforms has been mostly slow, efforts have been boosted to advance them. Macroeconomic policies will need to be closely coordinated. After recording a small fiscal surplus in July–September against a programmed deficit, the government is planning to step up budget implementation, particularly in development spending. The monetary policy stance and liquidity forecasting and management will need to be closely coordinated with fiscal developments. Strong growth and job creation are needed to address high poverty and a large underemployed youth population.
Republic Of Mozambique
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2014-01-28
Republic Of Mozambique 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 2014-01-28 with Business & Economics categories.
This paper discusses Mozambique’s First Review Under the Policy Support Instrument (PSI) and Request for Modification of Assessment Criteria. Mozambique’s macroeconomic outlook remains favorable and the PSI-supported program is broadly on track. All assessment criteria were met and most indicative targets, but there was some slippage on structural reforms. Economic growth is robust and inflation remains moderate. In spite of risks stemming from the uncertain global economy, growth is expected to be sustained in the medium term by the natural resource boom and infrastructure investment. Structural reforms along a broad policy spectrum should be implemented vigorously to foster sustained and more inclusive growth.
United Republic Of Tanzania
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2017-06-30
United Republic Of Tanzania 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 2017-06-30 with Business & Economics categories.
This paper discusses Tanzania’s Sixth Review Under the Policy Support Instrument (PSI) and Request for a Six-Month Extension of the PSI. Tanzania’s macroeconomic performance has been strong, albeit with a recent deceleration in economic growth. Program performance under the PSI has been broadly satisfactory. Most quantitative targets for December 2016 and March 2017 were met. Although progress in structural reforms identified under the program has been generally slow, the authorities have stepped up efforts to advance them. The IMF staff supports the authorities’ request for a 6-month extension of the PSI arrangement and recommends completion of its sixth review.
Republic Of Mozambique
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2008-01-14
Republic Of Mozambique 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 2008-01-14 with Business & Economics categories.
The strong macroeconomic performance and the implementation of prudent fiscal and monetary policies and a flexible exchange rate regime have helped Mozambique to perform well under the Policy Support Instrument (PSI). Executive Directors advised to maintain macroeconomic stability and accelerate structural reforms to sustain rapid growth. Directors stressed the need for fiscal transparency and adopting regulations to the Mining and Petroleum Fiscal Regime laws. Directors appreciated the principles of the Extractive Industries Transparency Initiative, welcomed its monetary policy stance, and encouraged authorities to embark on revenue efforts to achieve the MDGs.