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Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498342523 Category : Business & Economics Languages : en Pages : 11
Book Description
The 2014 review of surveillance comes at a critical juncture for the Fund and its member countries. Policymakers are navigating a brittle, uneven recovery that is still marred by the lingering effects of the crisis. They are also continuing to adapt to the challenges of a highly interconnected world, shielding their economies from potential negative spillovers while also striving to harness the benefits of globalization. It is imperative that Fund surveillance is positioned to help our members best chart this course. This paper presents specific proposals in the priority areas agreed in the 2014 Triennial Surveillance Review (TSR). These actions will help ensure that surveillance meets the current and future needs of the membership, and the wider global economic community.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498342523 Category : Business & Economics Languages : en Pages : 11
Book Description
The 2014 review of surveillance comes at a critical juncture for the Fund and its member countries. Policymakers are navigating a brittle, uneven recovery that is still marred by the lingering effects of the crisis. They are also continuing to adapt to the challenges of a highly interconnected world, shielding their economies from potential negative spillovers while also striving to harness the benefits of globalization. It is imperative that Fund surveillance is positioned to help our members best chart this course. This paper presents specific proposals in the priority areas agreed in the 2014 Triennial Surveillance Review (TSR). These actions will help ensure that surveillance meets the current and future needs of the membership, and the wider global economic community.
Author: Publisher: INTERNATIONAL MONETARY FUND ISBN: 9781498344647 Category : Business & Economics Languages : en Pages : 17
Book Description
In November 2014, the Managing Director set out a five-year Action Plan for Strengthening Surveillance in line with the goals of the 2014 Triennial Surveillance Review (TSR). In response to Executive Directors’ request for an early update, this report outlines the initial steps taken to operationalize the Action Plan. Many initiatives will take time to be fully embedded in the Fund’s surveillance products and its day-to-day dialogue with member countries. This initial phase focused on putting in place the building blocks to support teams engaging in surveillance. This includes revising guidance to staff in line with the TSR priorities, investing in tools and staff training to boost capacity, and revamping work practices. Ongoing engagement among staff will be critical, both to raise awareness and to understand the issues teams are facing. Managers will play a vital role in implementing changed work practices, and the new leadership framework will support this. While not all initiatives are equally advanced given their different starting points or varying complexity, work is moving forward in all three of the broad pillars of the TSR: Deepening risk and spillover analysis. Staff is making a concerted effort to develop new approaches to macrofinancial surveillance, including through area department led pilot cases, enhanced technical support from functional departments, and a more collaborative approach to build skills and share knowledge. More tailored and expert policy advice. To better adapt our advice to the changing needs of member countries, staff is laying the groundwork for more detailed and tailored macro-structural analysis and ensuring that our fiscal advice continues to be ‘state of the art’. Efforts to leverage cross-country experience have gained momentum. Achieving greater impact. Staff is promoting more client focused communication, including exploring ways for more effective two-way dialogue with member countries, and promoting greater clarity in its multilateral messages. Staff is also developing principles to better understand and address perceptions of evenhandedness.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498342574 Category : Business & Economics Languages : en Pages : 13
Book Description
The Managing Director’s Global Policy Agenda (GPA) presented to the IMFC in October identified a range of actions needed to prevent growth from settling into a “new mediocre” with unacceptably low job creation and inclusion. These actions included managing eventual monetary normalization in advanced economies and its effects on other economies, growth-friendly fiscal policies to enhance the quality of public expenditure and reduce distortions in revenue collection, policies to safeguard financial stability while strengthening credit transmission, structural reforms to buttress productivity and strengthen growth, and increasing investment in infrastructure. The GPA also outlined how the Fund would support the membership through assessments and policy advice provided in the context of multilateral and bilateral surveillance, capacity building, and financial support.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498346650 Category : Business & Economics Languages : en Pages : 12
Book Description
This Work Program (WP) translates the policy priorities and strategic directions laid out in the Spring 2017 Global Policy Agenda (GPA) and the International Monetary and Financial Committee (IMFC) Communiqué into an Executive Board agenda for the next twelve months. The Managing Director’s GPA, welcomed by the IMFC, called on members to continue using supportive policies based on a three-pronged approach to sustain the recovery, to work together within the multilateral framework toward strong and more balanced growth, and to provide economic opportunities for all. It outlined how the Fund would support the membership by promoting efforts to sustain the recovery, lift productivity and increase resilience, and by promoting sustainable policies toward a more inclusive global economy, while facilitating multilateral solutions to global challenges. Where the work extends beyond traditional areas, the WP will focus on macro-relevant issues that are systemically important or relevant for many countries and amenable to change through economic policies.
Author: International Monetary Fund. Strategy, Policy, & Review Department Publisher: International Monetary Fund ISBN: 1498343066 Category : Business & Economics Languages : en Pages : 35
Author: Mathias Kende Publisher: Oxford University Press ISBN: 0192549758 Category : Law Languages : en Pages : 332
Book Description
The WTO's Trade Policy Review Mechanism, which reviews the trade policies and practices of each WTO member at regular intervals, is generally considered to function well. In this day and age, complacency is unwise. Examining trade policy reviews throughout the lifetime of the TPRM, this book details its evolution from Article X of the General Agreement on Tariffs and Trade to the proposed modifications resulting from the mechanism's latest appraisal, examining the budgetary capabilities and technical performance of all the main entities who participate in the reviews. On the basis of these considerations, the author concludes that in order to remain relevant, especially in times of increased global protectionism, the TPRM could, and should do better, and provides unique and timely suggestions for reform.
Author: International Monetary Fund. Strategy, Policy, & Review Department Publisher: International Monetary Fund ISBN: 1498346049 Category : Business & Economics Languages : en Pages : 24
Book Description
Evenhandedness of the Fund’s analysis and advice is critical to the effectiveness of its engagement with member countries. In this regard, both actual and perceived lack of evenhandedness can be detrimental to the Fund’s credibility and legitimacy. While perceptions of evenhandedness often reflect views about the full range of Fund activities, Fund surveillance is an important contributor to perceptions. Moreover, the consistency of the Fund’s analysis and advice will likely be scrutinized more closely in an interconnected world.
Author: International Monetary Fund. Strategy, Policy, & Review Department Publisher: International Monetary Fund ISBN: 1498347045 Category : Business & Economics Languages : en Pages : 21
Book Description
This is a high-level report on progress in addressing recurring issues identified by the Independent Evaluation Office (IEO). The Board endorsed the proposal in the Chairman’s Summing Up for the Independent Evaluation Office Report on Recurring Issues from a Decade of Evaluation – Lessons for the IMF (BUFF/14/58, 6/11/14) that staff prepare a separate high-level report on the status of initiatives that address the recurring issues identified by the IEO, noting that the first staff report could be prepared within two years, followed by similar reports every five years thereafter. The September 2015 Management Implementation Plan set out the actions management would take to follow-up on the Board-endorsed recommendation. The IEO’s 2014 evaluation of Recurring Issues from a Decade of Evaluation: Lessons for the IMF identified five recurring issues: a) Executive Board guidance and oversight; b) Organizational silos; c) Attention to risks and uncertainty; d) Country and institutional context; and e) Evenhandedness. This high-level report provides a broad account of actions taken to address these recurring issues since the publication of the 2014 IEO report; it is not intended as an exhaustive account of initiatives undertaken. Takeaways. The report concludes that the Fund has made progress in addressing the recurring issues identified by the IEO, and acknowledges the need for taking actions on an ongoing basis to achieve the related objectives. The discussion of the Management Implementation Plan (MIP) left open the question of whether subsequent reports should be prepared, perhaps every five years. The Evaluation Committee concluded that the forthcoming external evaluation of the IEO could look at the monitoring mechanisms more holistically, to provide further input into considering whether or not to continue the preparation every five years of this high-level report.
Author: International Monetary Fund
Author: International Monetary Fund
Author: 
Author: International Monetary Fund
Author: International Monetary Fund
Author: International Monetary Fund
Author: International Monetary Fund. Strategy, Policy, & Review Department
Author: Mathias Kende
Author: International Monetary Fund
Author: International Monetary Fund. Strategy, Policy, & Review Department
Author: International Monetary Fund. Strategy, Policy, & Review Department