Part II Commercial Aspects of the Marine Environment, 6 The Work of the International Monetary Fund and Its Possible Relevance to Global Ocean Governance

Technical Assistance ◽

Institutional Development ◽

Global Ocean ◽

International Agencies ◽

Ocean Governance ◽

History Of ◽

Decision Making Processes ◽

The Imf

This chapter discusses the role of the International Monetary Fund (IMF) in global ocean governance. It first traces the history of the IMF, from its inception at Bretton Woods in 1944 to the late 1970s and beyond, and highlights the factors that have influenced its institutional development as well as its current institutional profile. It then describes the IMF’s membership, structure, main functions, and decision-making processes before analysing the possible input of the Fund to matters related to ocean governance. In particular, it considers the ways in which the IMF is involved in global ocean governance through its three main functions: economic surveillance, lending, and capacity building. Although the Fund has no direct relevance to global ocean governance, the chapter shows that the IMF may contribute to its improvement by providing technical assistance and policy advice, as well as a better interaction with other, more competent, international agencies.

Republic of Uzbekistan

IMF Staff Country Reports ◽

10.5089/9781513546810.002 ◽

2020 ◽

Vol 20 (193) ◽

Author(s):

Keyword(s):

Middle East ◽

Central Asia ◽

Technical Assistance ◽

Financial Data ◽

The Republic ◽

External Sector ◽

The Imf

At the request of the Republic of Uzbekistan authorities for technical assistance (TA) on external sector statistics (ESS), and with the support of the Middle East and Central Asia Department (MCD) of the International Monetary Fund (IMF), a mission from the IMF Statistics Department (STA) visited Tashkent during October 15–26, 2018. This was the first TA mission under the auspices of the Data for Decision Fund and the second since the Republic of Uzbekistan Presidential Order of September 12, 2017, “On Measures to Ensure the Accessibility and Openness of Economic and Financial Data for the Republic of Uzbekistan” was issued.

Republic of Uzbekistan

IMF Staff Country Reports ◽

10.5089/9781513546490.002 ◽

2020 ◽

Vol 20 (189) ◽

Author(s):

Keyword(s):

Middle East ◽

Central Asia ◽

Technical Assistance ◽

Financial Data ◽

The Third ◽

The Republic ◽

External Sector ◽

The Imf

At the request of the Republic of Uzbekistan authorities for technical assistance (TA) on external sector statistics (ESS), and with the support of the Middle East and Central Asia Department (MCD) of the International Monetary Fund (IMF), a mission from the IMF Statistics Department (STA) visited Tashkent from September 30 through October 11, 2019. This was the second TA mission under the auspices of the Data for Decisions Fund and the third since the Presidential Order of September 12, 2017, on Measures to Ensure the Accessibility and Openness of Economic and Financial Data for the Republic of Uzbekistan was issued.

ACTIVITY OF INTERNATIONAL FINANCIAL INSTITUTES AND THEIR PARTICIPANTS OF THEIR RELATIONS WITH UKRAINE

Bulletin of V. N. Karazin Kharkiv National University Economic Series ◽

10.26565/2311-2379-2019-96-07 ◽

2019 ◽

Keyword(s):

Financial Market ◽

Financial Institutions ◽

Technical Assistance ◽

Financial Institution ◽

Financial System ◽

International Financial Institutions ◽

The World ◽

The Imf

The article deals with the peculiarities of the activities of international financial institutions and their relationship with Ukraine in modern conditions. The main goals and directions of the activities of key international financial institutions, such as the International Monetary Fund, the World Bank, are specified. It is noted that in the context of globalization their role and significance grows, because they are supranational regulators that affect financial security of both the individual countries of the world and security of the world financial market as a whole. The main reasons for the emergence of international financial institutions and the basic goals of their activities are systematized. The International Monetary Fund is the main international financial institution, which is the institutional basis of the world monetary and financial system. The IMF assesses the sufficiency of the global financial protection system, provides economic supervision and control over the safe operation of the global monetary and financial system, and should respond to emerging problems and imbalances in a timely manner, providing the necessary funding and technical assistance to countries under the approved arrangements. The analysis of the statistics on loans provided by the IMF within various lending mechanisms, the analysis of the state of the world 's debts to the IMF in the context of its privileged and non – beneficial loans, the peculiarities of the IBRD' s relations with the member countries are analyzed and there are identified current trends in this direction. The key problems and challenges in the work of international financial institutions are formulated and prospective ways of their development are defined, the use of which will promote both optimization of their activities and strengthening the security of the world financial market.

Practising what they Preach: Did the IMF and Iceland Exercise Good Governance in their Relations 2008-2011?

Nordicum-Mediterraneum ◽

10.33112/nm.8.1.1 ◽

2013 ◽

Vol 8 (1) ◽

Author(s):

Hjálti Ómar Ágústsson ◽

Rachael Lorna Johnstone

Keyword(s):

International Institutions ◽

Good Governance ◽

The Past ◽

The Imf

Between September 2008 and August 2011, the International Monetary Fund (IMF) and Iceland were engaged in cooperation under a stand-by agreement involving a loan from the IMF to Iceland of over 2bn USD. The IMF is one of a number of major international institutions that has been increasing its emphasis on good governance over the past two decades, in particular, emphasising the need for improved governance in debtor countries. In this paper, the authors review the extent to which principles of good governance were exercised in the interaction between the IMF and Iceland within the context of the stand-by programme.

Adding Fuel to Fire: How IMF demands for austerity will drive up inequality worldwide

10.21201/2021.7864 ◽

2021 ◽

Author(s):

Nona Tamale

Keyword(s):

Civil Society ◽

Low Income ◽

Uneven Distribution ◽

Vulnerable Groups ◽

Health Crisis ◽

Global Institutions ◽

Briefing Paper ◽

The Imf

The COVID-19 pandemic has dealt a huge blow to every country, and many governments have struggled to meet their populations’ urgent needs during the crisis. The International Monetary Fund (IMF) has stepped in to offer extra support to a large number of countries during the pandemic. However, Oxfam’s analysis shows that as of 15 March 2021, 85% of the 107 COVID-19 loans negotiated between the IMF and 85 governments indicate plans to undertake austerity once the health crisis abates. The findings in this briefing paper show that the IMF is systematically encouraging countries to adopt austerity measures once the pandemic subsides, risking a severe spike in already increased inequality levels. A variety of studies have revealed the uneven distribution of the burden of austerity, which is more likely to be shouldered by women, low-income households and vulnerable groups, while the wealth of the richest people increases. Oxfam joins global institutions and civil society in urging governments worldwide and the IMF to focus their energies instead on a people-centred, just and equal recovery that will fight inequality and not fuel it. Austerity will not ‘build back better’.

Selected Decisions and Selected Documents of the International Monetary Fund, Forty First Issue Supplement

10.5089/9781513557526.014 ◽

2021 ◽

Author(s):

Keyword(s):

United Nations ◽

International Organizations ◽

Executive Board ◽

Second Amendment ◽

Board Of Governors ◽

Frequent Reference ◽

Made In ◽

The Imf

This volume is the Forty-First Issue of Selected Decisions and Selected Documents of the IMF. It includes decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the IMF, as well as selected documents, to which frequent reference is made in the current activities of the IMF. In addition, it includes certain documents relating to the IMF, the United Nations, and other international organizations. As with other recent issues, the number of decisions in force continues to increase, with the decision format tending to be longer given the use of summings up in lieu of formal decisions. Accordingly, it has become necessary to delete certain decisions that were included in earlier issues, that is, those that only completed or called for reviews of decisions, those that lapsed, and those that were superseded by more recent decisions. Wherever reference is made in these decisions and documents to a provision of the IMF’s Articles of Agreement or Rules and Regulations that has subsequently been renumbered by, or because of, the Second Amendment of the Fund’s Articles of Agreement (effective April 1, 1978), the corresponding provision currently in effect is cited in a footnote.

From IMF Poster Child to Wayward Student

Why Not Default? ◽

10.23943/princeton/9780691180106.003.0014 ◽

2019 ◽

pp. 185-193

Author(s):

Jerome Roos

Keyword(s):

United States ◽

Financial System ◽

The United States ◽

Fiscal Discipline ◽

Enforcement Mechanism ◽

International Financial System ◽

The Imf

This chapter considers why the International Monetary Fund (IMF) did it not prevent Argentina's record default of 2001. It suggests that the IMF was both unable and unwilling to stop it. While the second enforcement mechanism of conditional IMF lending was initially fully operative, helping to enforce Argentina's compliance in the first years of the crisis, the outcome of the megaswap greatly reduced the risk of an Argentine default to the international financial system. Combined with mounting domestic opposition in the United States to further international bailout loans, this greatly weakened the IMF's capacity to impose fiscal discipline on Argentina, eventually leading the Fund to pull the plug on its own bailout program, causing the second enforcement mechanism to break down altogether. The chapter recounts the process through which this breakdown occurred.

Argentina and the IMF in Turbulent Times, 1976–1984

The Currency of Confidence ◽

10.7591/cornell/9781501705120.003.0004 ◽

2017 ◽

Author(s):

Stephen C. Nelson

Keyword(s):

Sovereign Default ◽

Military Junta ◽

Turbulent Times ◽

Economic Beliefs ◽

The Military ◽

Economic Policymaking ◽

The Imf

This chapter examines Argentina's relationship with the International Monetary Fund (IMF) during the period 1976–1984. It tracks Argentina's engagement with the IMF from the arrival of a Fund mission soon after the military junta took power in 1976 through to the economic meltdown in the last months of 2001, which culminated in the withdrawal of IMF support for the country and the largest sovereign default in history to that point. The Argentina-IMF case is used to test the argument linking treatment of borrowers to shared economic beliefs. The chapter first provides an overview of economic policymaking in Argentina in 1976–1981 and in 1991–2001; economic policymaking in the latter period was dominated by neoliberals. It also compares the economic beliefs of neoliberals with those of structuralists and concludes with a discussion of the breakdown in Argentine-IMF relations.

Part V Regional Perspectives on Global Ocean Governance, 16 The Role of the World Ocean Council and the Ocean Business Community in Global Ocean Governance

10.1093/law/9780198824152.003.0016 ◽

2018 ◽

Author(s):

Holthus Paul

Keyword(s):

Sustainable Development Goals ◽

World Ocean ◽

Institutional Development ◽

Business Community ◽

Global Ocean ◽

The Sustainable Development ◽

Ocean Governance ◽

The World ◽

Development Goals

This chapter discusses the role of the World Ocean Council (WOC) and the international ocean business community in global ocean governance (GOG). It first provides an overview of the institutional development and profile of the WOC before considering the work and role and work of the WOC on ocean governance with and for the ocean business community. It then examines the Sustainable Development Goals (SDGs) in relation to ocean business and the WOC, as well as the size, complexity trends in the ocean economy and ocean business community, which are fundamental to understanding their importance to GOG. It also analyses GOG issues relevant to the ocean business community and WOC that the United Nations and its associated bodies must address and concludes with an assessment of the role of the ocean business community and WOC in the future of the GOG agenda.

Intergovernmental Oceanographic Commission

Part I Marine Living Resources and Marine Biodiversity, 2 The Work of the UNESCO-IOC in Respect of Global Ocean Governance

10.1093/law/9780198823964.003.0002 ◽

2018 ◽

Author(s):

Ehlers Peter

Keyword(s):

Capacity Building ◽

International Organizations ◽

Global Ocean ◽

Law Of The Sea ◽

Marine Biodiversity ◽

Organisational Structure ◽

Ocean Governance ◽

Decision Making Processes ◽

United Nations Convention ◽

This chapter focuses on the work of the Intergovernmental Oceanographic Commission (IOC), a separate unit of UNESCO, in respect to global ocean governance. The functions of IOC are part of the system of ocean governance, based on 1982 United Nations Convention on the Law of the Sea (UNCLOS). Its purpose is to promote international cooperation and to coordinate programmes in research, services and capacity building, in order to learn more about the nature and resources of the ocean and coastal areas and to apply that knowledge for the improvement of management, sustainable development, the protection of the marine environment, and the decision-making processes of its Member States. The chapter first provides an overview of IOC’s purpose and organisational structure, its collaboration with international organizations with regard to ocean governance, and its ocean governance-related activities before discussing the ways in which it contributes to capacity building and enhancing ocean governance.