Implementation Plan in Response to Board-Endorsed Recommendations Arising from the IEO Report on the Evaluation of the IMF Exchange Rate Policy Advice, 1999-2005

Policy Papers ◽  
2007 ◽  
Vol 2007 (29) ◽  
Author(s):  
Keyword(s):  
Exchange Rate ◽  
Policy Advice ◽  
Exchange Rate Policy ◽  
Executive Board ◽  
Implementation Plan ◽  
Rate Policy ◽  
Resource Cost ◽  
Implementation Plans ◽  
The Imf

This paper presents an implementation plan that responds to the Board endorsed recommendations in the IEO Report on the Evaluation of the IMF's Exchange Rate Policy Advice, 1999-2005 ("the IEO Report"). The IEO recommendations and the views of the Executive Board are summarized in Section II, followed by descriptions of implementation plans (Section III) and the projected resource cost associated with the implementation plan (Section IV).

Statement by the Managing Director on the Independent Evaluation Office Report on IMF Exchange Rate Policy Advice

Policy Papers ◽  
2017 ◽  
Vol 2017 (57) ◽  
Author(s):  
Keyword(s):  
Exchange Rate ◽  
Policy Advice ◽  
Exchange Rate Policy ◽  
Independent Evaluation ◽  
Rate Policy ◽  
External Sector ◽  
The Imf

I would like to thank the Independent Evaluation Office (IEO) for preparing this informative and timely report, which provides an update on the IMF’s progress in its approach to exchange rate policy advice since 2007. I am pleased with its main finding that the IMF has substantially overhauled its approach to exchange rate policy advice, and concur that some issues need our continued attention. I would like to note that management and staff remain fully committed to the role of the External Sector Report (ESR) in Fund surveillance.

Progress Report on the Activities of the Independent Evaluation Office (IEO)

Policy Papers ◽  
2007 ◽  
Vol 2007 (46) ◽  
Author(s):  
Keyword(s):  
Exchange Rate ◽  
Progress Report ◽  
Exchange Rate Policy ◽  
Sub Saharan Africa ◽  
Independent Evaluation ◽  
Rate Policy ◽  
Sub Saharan ◽  
The Imf

Since its last Report to the IMFC in Singapore, the IEO has focused most of its attention on completion of two evaluations; namely the IMF and Aid to Sub-Saharan Africa and the IMF’s Advice on Exchange Rate Policy. In addition work is progressing or has been initiated on a number of new topics identified in the last Report.

Fear of Free Floating or Forced Exchange Rate Fixing

2004 ◽  
pp. 112-122
Author(s):  
O. Osipova
Keyword(s):  
Exchange Rate ◽  
Financial Crisis ◽  
Exchange Rates ◽  
Inflation Targeting ◽  
Exchange Rate Policy ◽  
Float Exchange Rate ◽  
Floating Exchange Rate ◽  
Rate Policy ◽  
Exchange Rate Arrangements ◽  
Pass Through

After the financial crisis at the end of the 1990 s many countries rejected fixed exchange rate policy. However actually they failed to proceed to announced "independent float" exchange rate arrangement. This might be due to the "fear of floating" or an irreversible result of inflation targeting central bank policy. In the article advantages and drawbacks of fixed and floating exchange rate arrangements are systematized. Features of new returning to exchange rates stabilization and possible risks of such policy for Russia are considered. Special attention is paid to the issue of choice of a "target" currency composite which can minimize external inflation pass-through.

Exchange Rate Regimes and Economic Stability

2010 ◽  
pp. 29-43
Author(s):  
S. Smirnov
Keyword(s):  
Exchange Rate ◽  
Inflation Targeting ◽  
Exchange Rate Regime ◽  
Exchange Rate Policy ◽  
Real Sector ◽  
Economic Stability ◽  
Exogenous Shocks ◽  
Floating Exchange Rate ◽  
Rate Policy ◽  
Managed Floating

The Bank of Russia intends to introduce inflation targeting policy and exchange rate free floating regime in three years. Exogenous shocks absorption which stabilizes the real sector of economy is usually considered to be one of the advantages of free floating exchange rate policy. However, our research based on the analysis of 25 world largest economies exchange rates and industrial production during the crisis of 2008-2009 does not confirm this hypothesis. The article also analyzes additional risks associated with free floating exchange rate regime in Russia and presents some arguments in favor of managed floating exchange rate regime.

On the Exchange Rate Policy

2010 ◽  
pp. 21-28
Author(s):  
K. Yudaeva
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Inflation Targeting ◽  
Exchange Rate Policy ◽  
Institutional Changes ◽  
Crisis Period ◽  
Local Currency ◽  
High Inflation ◽  
Rate Policy ◽  
The Exchange Rate

The level of trust in the local currency in Russia is very low largely because of relatively high inflation. As a result, Bank of Russia during crisis times can not afford monetary policy loosening and has to fight devaluation expectations. To change the situation in the post-crisis period Russia needs to live through a continuous period of low inflation. Modified inflation targeting can help achieve such a result. However, it should be amended with institutional changes, particularly development of hedging instruments.

Sign in / Sign up

Export Citation Format

Share Document