Proposal For A General Allocation Of Sdrs
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Proposal For A General Allocation Of Sdrs
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Author : International Monetary Fund. Finance Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2009-09-06
Proposal For A General Allocation Of Sdrs written by International Monetary Fund. Finance 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 2009-09-06 with Business & Economics categories.
Faced with a global crisis of exceptional magnitude, the membership of the IMF has called for ambitious steps to strengthen the global financial safety net. These include, alongside efforts to strengthen the Fund’s lending capacity, an allocation of SDRs equivalent to US$250 billion to become effective well before the 2009 Annual Meetings. This call recognized that an SDR allocation is a prime example of cooperative monetary response to a global predicament. As such it would build confidence by adding to other concrete evidence of the international community’s commitment to a collaborative response to the crisis. This paper follows up on the IMFC’s request, in its Spring 2009 communiqué, for the IMF to put forward a concrete proposal assessing the case for such a US$250 billion allocation and describing how it could be implemented.
Proposal For A General Allocation Of Special Drawing Rights
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2021-07-12
Proposal For A General Allocation Of Special Drawing Rights 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 2021-07-12 with Business & Economics categories.
On June 25, the Executive Board discussed a proposal for a historic US$650 billion general allocation of SDRs to address the long-term global need to supplement existing reserve assets. Following concurrence by the Executive Board on July 8, the Managing Director submitted the proposal to the Board of Governors on July 9 for its approval by August 2. If approved, which requires an 85 percent majority of the total voting power, the allocation would become effective by the end of August. The proposal makes a case for an allocation of US$650 billion (about SDR 456 billion), based on an assessment of IMF member countries’ long-term global reserve needs. It also includes measures to enhance the transparency and accountability in the reporting and use of SDRs while preserving the reserve asset characteristic of the SDR. The general allocation would help many EMDCs that are liquidity constrained smooth needed adjustment and avoid distortionary policies, while providing scope for spending on crisis response and vaccines.
The Case For A General Allocation Of Sdrs During The Tenth Basic Period
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2011-10-06
The Case For A General Allocation Of Sdrs During The Tenth Basic Period 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 2011-10-06 with Business & Economics categories.
This paper is the outcome of a periodic process regarding the allocation (or cancellation) of Special Drawing Rights (SDRs), and is a report by the Managing Director to the Board of Governors and the Executive Board along with a staff paper that assesses the merits of a general allocation. Following consultations with the Executive Board on the case for a general allocation, the Managing Director decided not to make a proposal for a general SDR allocation at this time. Though there was openness among many Directors to consider a proposal in the upcoming basic period, there was also a widely-shared sense that it would be premature at this stage, owing to ongoing discussions on the role of the SDR in the context of reform of the international monetary system. Decisions by the Fund on a general allocation or cancellation of SDRs take place at regular intervals (or basic periods) of normally five years, with the Managing Director’s report due six months before each new basic period. The tenth basic period begins on January 1, 2012. The report can either propose a general SDR allocation (or cancellation of previous allocations), or conclude that the conditions set out in the IMF’s Articles of Agreement for an allocation or cancellation of SDRs are not currently in place, including broad support among IMF members that participate in the SDR Department. Under the IMF’s Articles of Agreements, the Managing Director may also propose allocations of SDRs at the request of the Board of Governors or the Executive Board. In this regard, an allocation could be considered if there is a long-term global need for reserves that could be usefully filled at least in part by SDRs and if it would not lead to inflationary pressures, assuming there is broad support among IMF members participating in the SDR Department.
Allocation Of Special Drawing Rights For The Eleventh Basic Period
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2021-07-12
Allocation Of Special Drawing Rights For The Eleventh Basic Period 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 2021-07-12 with Business & Economics categories.
On June 25, 2021, the Executive Board discussed a staff paper setting forth the considerations underlying the case for a general allocation of special drawing rights (SDRs) of an amount equivalent to US$650 billion (about SDR 456 billion) during the Eleventh Basic Period and the key features that could be included in the Managing Director’s proposal for this general allocation.
Proposal For A General Allocation Of Sdrs
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Author : Internationaler Währungsfonds
language : en
Publisher:
Release Date : 2009
Proposal For A General Allocation Of Sdrs written by Internationaler Währungsfonds and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Faced with a global crisis of exceptional magnitude, the membership of the IMF has called for ambitious steps to strengthen the global financial safety net. These include, alongside efforts to strengthen the Fund's lending capacity, an allocation of SDRs equivalent to USD 250 billion to become effective well before the 2009 Annual Meetings. This call recognized that an SDR allocation is a prime example of cooperative monetary response to a global predicament. As such it would build confidence by adding to other concrete evidence of the international community's commitment to a collaborative response to the crisis. This paper follows up on the IMFC's request, in its Spring 2009 communique, for the IMF to put forward a concrete proposal assessing the case for such a USD 250 billion allocation and describing how it could be implemented.
Proposal For A General Allocation Of Special Drawing Rights
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Author : Internationaler Währungsfonds
language : en
Publisher:
Release Date : 2021
Proposal For A General Allocation Of Special Drawing Rights written by Internationaler Währungsfonds and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
On June 25, the Executive Board discussed a proposal for a historic USD 650 billion general allocation of SDRs to address the long-term global need to supplement existing reserve assets. Following concurrence by the Executive Board on July 8, the Managing Director submitted the proposal to the Board of Governors on July 9 for its approval by August 2. If approved, which requires an 85 percent majority of the total voting power, the allocation would become effective by the end of August. The proposal makes a case for an allocation of USD 650 billion (about SDR 456 billion), based on an assessment of IMF member countries' long-term global reserve needs. It also includes measures to enhance the transparency and accountability in the reporting and use of SDRs while preserving the reserve asset characteristic of the SDR. The general allocation would help many EMDCs that are liquidity constrained smooth needed adjustment and avoid distortionary policies, while providing scope for spending on crisis response and vaccines.
2021 Special Drawing Rights Allocation Ex Post Assessment Report
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2023-08-29
2021 Special Drawing Rights Allocation Ex Post Assessment Report 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 2023-08-29 with Business & Economics categories.
This report follows up on the impact of the historic $650 billion 2021 SDR allocation on the global economy, documenting IMF members' use of the allocation and assessing its economic effects. The report finds that the allocation was beneficial for the global economy, helping meet the long-term global need for reserves and supporting market confidence. Members used the allocation mostly to increase international reserve buffers, with some emerging market and developing countries also using it to meet fiscal and external financing needs. While SDR interest costs have increased, members’ capacity to service SDR obligations remains generally adequate. Members’ use of the allocation was mostly in line with Fund advice, and the transparency and accountability of SDR holdings and use has been broadly appropriate, although some gaps remain. Voluntary SDR channeling from economically stronger to more vulnerable members has helped amplify the benefits of the allocation.
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.
Fifty Years After Bretton Woods
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Author : Mr.James M. Boughton
language : en
Publisher: International Monetary Fund
Release Date : 1995-04-14
Fifty Years After Bretton Woods written by Mr.James M. Boughton 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 1995-04-14 with Business & Economics categories.
This volume, edited by James M. Boughton and K. Sarwar Lateef, contains the proceedings of a conference held in Madrid, Spain, in 1994, by the IMF and the World Bank to commemorate the fiftieth anniversary of the Bretton Woods conference of July 1944 that created the two institutions. The conference provided a forum for reflection and for reassessing the roles of the institutions as they approach the twenty-first century.
Current Legal Issues Affecting Central Banks Volume Iv
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Author : Mr.Robert C. Effros
language : en
Publisher: International Monetary Fund
Release Date : 1997-04-03
Current Legal Issues Affecting Central Banks Volume Iv written by Mr.Robert C. Effros 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 1997-04-03 with Business & Economics categories.
This volume, edited by Robert C. Effros, surveys developments at international financial institutions, regional developments affecting central banks, the progress of the European Union countries toward monetary union and a unified banking market, the effect of the General Agreement on Tariffs and Trade and the World Trade Organization on banking services, and the implications of the North American Free Trade Agreement for central banks. Other topics discussed include banking regulation and reform in the United States, the United Kingdom, Canada, countries of the former Soviet Union, and China; banking supervision; the role of deposit insurance; bankruptcy policy; derivatives; securitization; payments systems; securities transfers; and capital standards for market risk. Appendices reproduce relevant legal documentation.