Managing Volatility In Low Income Countries The Role And Potential For Contingent Financial Instruments

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Managing Volatility In Low Income Countries The Role And Potential For Contingent Financial Instruments

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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2011-10-31

Managing Volatility In Low Income Countries The Role And Potential For Contingent Financial Instruments 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 2011-10-31 with Business & Economics categories.

The paper examines the case for contingent financial instruments for low-income countries (LICs), from both the market and official sector. These include commodity price hedging instruments, contingent debt instruments (commodity-linked bonds, deferred repayment loans), and natural disaster insurance, for example. The paper considers the adequacy of the existing framework of ex post and ex ante support to LICs facing exogenous shocks, and examines the need for and possible constraints to greater availability of contingent instruments. Would there be a role for the international community, particularly the IMF and World Bank, in helping to address the constraints that limit development and use of these instruments?

Managing Volatility A Vulnerability Exercise For Low Income Countries

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2011-10-03

Managing Volatility A Vulnerability Exercise For Low Income Countries 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 2011-10-03 with Business & Economics categories.

This paper, introduces the analytical framework for a Vulnerability Exercise for Low-Income Countries (VE-LIC). The envisaged exercise will strive to identify vulnerabilities and emerging risks that arise from changes in the external environment in a consistent manner across countries and across time. The objective is to strengthen the staff’s capacity to spot vulnerabilities and flag potential pressure points in LICs arising from external triggers before they materialize.

The Role Of State Contingent Debt Instruments In Sovereign Debt Restructurings

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Author : Charles Cohen
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2020-11-19

The Role Of State Contingent Debt Instruments In Sovereign Debt Restructurings written by Charles Cohen 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 2020-11-19 with Business & Economics categories.

The COVID-19 crisis may lead to a series of costly and inefficient sovereign debt restructurings. Any such restructurings will likely take place during a period of great economic uncertainty, which may lead to protracted negotiations between creditors and debtors over recovery values, and potentially even relapses into default post-restructuring. State-contingent debt instruments (SCDIs) could play an important role in improving the outcomes of these restructurings.

Financial Deepening Terms Of Trade Shocks And Growth Volatility In Low Income Countries

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Author : Mr.Kangni R Kpodar
language : en
Publisher: International Monetary Fund
Release Date : 2019-03-25

Financial Deepening Terms Of Trade Shocks And Growth Volatility In Low Income Countries written by Mr.Kangni R Kpodar 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 2019-03-25 with Business & Economics categories.

This paper contributes to the literature by looking at the possible relevance of the structure of the financial system—whether financial intermediation is performed through banks or markets—for macroeconomic volatility, against the backdrop of increased policy attention on strengthening growth resilience. With low-income countries (LICs) being the most vulnerable to large and frequent terms of trade shocks, the paper focuses on a sample of 38 LICs over the period 1978-2012 and finds that banking sector development acts as a shock-absorber in poor countries, dampening the transmission of terms of trade shocks to growth volatility. Expanding the sample to 121 developing countries confirms this result, although this role of shock-absorber fades away as economies grow richer. Stock market development, by contrast, appears neither to be a shock-absorber nor a shock-amplifier for most economies. These findings are consistent across a range of econometric estimators, including fixed effect, system GMM and local projection estimates.

Global Monitoring Report 2012

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Author : World Bank
language : en
Publisher: World Bank Publications
Release Date : 2012-04-24

Global Monitoring Report 2012 written by World Bank and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-04-24 with Medical categories.

This year's report summarizes the short- and long-term impact of food prices on several MDGs, explores future trends, and review policy responses, from domestic policies such as social safety nets, nutritional programs and agricultural policies, to regional trade policies to support by the international community.

Macroeconomic Issues In Small States And Implications For Fund Engagement

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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2013-02-20

Macroeconomic Issues In Small States And Implications For Fund Engagement 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 2013-02-20 with Business & Economics categories.

This paper reviews the macroeconomic characteristics and performance of small states and discusses ways in which the Fund’s engagement with these countries could be better tailored to meet their needs. The Fund previously examined small states issues in 2000, informed by a Joint Task Force Report of the Commonwealth Secretariat (CS) and World Bank. Small states continue to face many of the same challenges they did then, and the 2000 Small States Report remains the foundation for much of the work in this area, both inside and outside the Fund. However, the relative macroeconomic performance of small states has deteriorated since the late 1990s, and a fresh look is warranted.

Macroeconomic Policy Frameworks For Resource Rich Developing Countries Analytic Frameworks And Applications

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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2012-08-24

Macroeconomic Policy Frameworks For Resource Rich Developing Countries Analytic Frameworks And Applications 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 2012-08-24 with Business & Economics categories.

This supplement presents the analytical frameworks underlying the IMF’s staff’s enhanced policy analysis and advice to resource-rich developing countries (RRDCs). The proposed macro-fiscal models, which are applied to selected country or regional cases, are aimed at addressing questions regarding how to deal with resource revenue uncertainty and how to scale up spending within relevant frameworks that ensure fiscal and external sustainability while addressing absorptive capacity constraints. The country applications confirm the importance attached by both IMF staff and country authorities of using the appropriate macro-fiscal frameworks to address the specific challenges faced by RRDCs.

Macroeconomic Policy Frameworks For Resource Rich Developing Countries Background Paper 1

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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2012-08-24

Macroeconomic Policy Frameworks For Resource Rich Developing Countries Background Paper 1 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 2012-08-24 with Business & Economics categories.

This paper provides deeper insights on a few themes with regard to the experience with macroeconomic management in resource-rich developing countries (RRDCs). First, some stylized facts on the performance of these economies relative to their non-resource peers are provided. Second, the experience of Fund engagement in these economies with respect to surveillance, programs, and technical assistance is assessed. Third, the experience of selected countries with good practices in the management of the natural resource wealth is presented. Fourth, the experience of IMF advice in helping RRDCs set up resource funds is discussed. Finally, the main themes and messages from the IMF staff consultation with external stakeholders (CSOs, policy makers, academics) are presented.

State Contingent Debt Instruments For Sovereigns Annexes

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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2017-05-22

State Contingent Debt Instruments For Sovereigns Annexes written by International Monetary Fund. Asia and Pacific 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 2017-05-22 with Business & Economics categories.

These annexes accompany the IMF Policy Paper State Contingent Debt Instruments for Sovereigns

Fiscal Frameworks For Resource Rich Developing Countries

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Author : Marcos Poplawski-Ribeiro
language : en
Publisher: International Monetary Fund
Release Date : 2012-05-16

Fiscal Frameworks For Resource Rich Developing Countries written by Marcos Poplawski-Ribeiro 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 2012-05-16 with Business & Economics categories.

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.