Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting, November 22, 2010

Policy Papers ◽  
2010 ◽  
Vol 2010 (82) ◽  
Author(s):  
Keyword(s):  
Employment Growth ◽  
Emerging Market ◽  
Capital Inflows ◽  
Economic Recovery ◽  
Board Meeting ◽  
Executive Board ◽  
Work Program ◽  
Emerging Market Countries ◽  
Sustainable Recovery ◽  
Global Growth

Persistent challenges: The multi-speed nature of the global economic recovery is testing the system, with strains already appearing in the form of large capital inflows to many emerging market countries and exchange rate pressures. At the same time, slow employment growth, high indebtedness, and remaining financial sector fragilities in some countries could yet derail a fragile recovery. Only cooperative approaches will succeed in relieving tensions and building a strong and sustainable recovery, based on a more balanced pattern of global growth.

scholarly journals Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - June 3, 2013

Policy Papers ◽  
2013 ◽  
Vol 13 ◽  
Author(s):  
Keyword(s):  
Global Economy ◽  
Policy Agenda ◽  
Growth Path ◽  
Board Meeting ◽  
Executive Board ◽  
Global Policy ◽  
Balanced Growth ◽  
Work Program ◽  
Balanced Growth Path ◽  
Sustainable Recovery

From stabilization to growth. The Global Policy Agenda (GPA) presented to the IMFC during the 2013 Spring Meetings charted a range of actions needed to invigorate a sustainable recovery and to make the global economy more resilient. The GPA also outlined how the Fund can best assist members in placing the global economy on a sustained and balanced growth path. This work program translates the policy priorities laid out in the GPA into the agenda for the Fund over the next six to twelve months. Progress on commitments outlined at the Spring Meetings will be assessed in the Fall GPA, which will also detail policy directions for the Fund and the membership.

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - June 8, 2016

Policy Papers ◽  
2016 ◽  
Vol 2016 (49) ◽  
Author(s):  
Keyword(s):  
Global Economy ◽  
Capacity Development ◽  
Policy Agenda ◽  
Policy Mix ◽  
Policy Space ◽  
Board Meeting ◽  
Executive Board ◽  
Global Policy ◽  
Work Program ◽  
Global Growth

The Managing Director’s Global Policy Agenda (GPA) presented to the International Monetary and Financial Committee (IMFC) in April called on member countries to reinforce their commitment to strong, sustainable, inclusive, job-rich, and more balanced global growth and to employ a three-pronged approach with monetary, fiscal, and structural actions (Figure 1). The global economy has been impaired by growth that has been too slow for too long, but it can get back on a stronger and safer track with a more forceful and balanced policy mix. Building on the approach of being agile, integrated, and member-focused, the GPA outlined how the Fund would support members in crafting a better policy mix toward durable global growth. The Fund would assist by clarifying the contours of available policy space, providing more tailored financial support and capacity development, and continuing to address new challenges.

Statement by the Managing Director to the International Monetary and Financial Committee on the Fund’s Policy Agenda

Policy Papers ◽  
2010 ◽  
Vol 2010 (46) ◽  
Author(s):  
Keyword(s):  
Economic Policy ◽  
Economic Activity ◽  
Emerging Market ◽  
Capital Inflows ◽  
Policy Agenda ◽  
Prudential Regulation ◽  
High Unemployment ◽  
Cross Border ◽  
Emerging Market Countries ◽  
The World

Although the global recovery continues to move ahead, it remains fragile and uneven, with continued high unemployment. Many countries are emerging from the crisis with high debt burdens, low growth, and still fragile financial sectors. At the same time, economic activity in many emerging market countries has picked up, attracting large capital inflows that challenge economic policy. Important steps have been taken to make financial sectors safer around the world, but the unfinished agenda is still substantial, particularly for cross-border finance and macro-prudential regulation. All this suggests serious vulnerabilities and challenges remain, requiring continued policy cooperation and collaboration.

Quota and Voice Reform - Stocktaking and Further Considerations, Statistical Appendices I and II, Statement by the Managing Director, and Summing Up of the Board Meeting

Policy Papers ◽  
2007 ◽  
Vol 2007 (47) ◽  
Author(s):  
Keyword(s):  
Low Income ◽  
Global Economy ◽  
World Economy ◽  
Emerging Market ◽  
Low Income Countries ◽  
Board Meeting ◽  
Executive Board ◽  
Board Of Governors ◽  
New Formula ◽  
The Voice

At its Spring Meeting, the IMFC reiterated the importance of implementing the program of quota and voice reforms in line with the timetable set out by the Board of Governors in Singapore. The Committee welcomed the initial informal Board discussions on a new quota formula and stressed the importance of agreeing on a new formula, which should be simple and transparent and should capture members’ relative positions in the world economy. It noted that this reform would result in higher shares for dynamic economies, many of which are emerging market economies, whose weight and role in the global economy have increased. The Committee also stressed the importance of enhancing the voice and participation of low-income countries, a key issue for which is an increase in basic votes, at a minimum preserving the voting share of low-income countries. The Committee called on the Executive Board to continue its work on the reform package as a matter of priority.

scholarly journals QUARTERLY ANALYSIS: The Progress of Monetary, Banking and Payment System Quarter 2, 2009

2010 ◽  
Vol 12 (1) ◽  
pp. 1-4
Author(s):  
Quarterly Report Team Bank Indonesia
Keyword(s):  
Global Economy ◽  
Emerging Market ◽  
Recovery Process ◽  
Economic Recovery ◽  
Public Confidence ◽  
Credit Expansion ◽  
Investment Activity ◽  
Fiscal Stimulus ◽  
Emerging Market Countries ◽  
Developed Nations

Developments in the global economy suggest a gathering momentum in the recoveryprocess, although still daunted by risks. process, although still daunted by risks. In developed nations, various indicators of macroeconomic recovery have shown an improving trend. Government-sponsored stimulus packages and financial sector stabilisation programmes have successfully bolstered public confidence, and in turn strengthened consumption. Conditions on credit markets have also begun to improve in an added development encouraging greater private consumption. Despite this, stubbornly high levels of unemployment pose risks daunting the economic recovery process in these nations. On the other hand, economic recovery is gaining momentum in emerging market countries, led by China, India and Korea. Investment activity in China, under way since the beginning of the year, is supported by a fiscal stimulus through infrastructure spending and brisk credit expansion Resurgent domestic demand in these Asian economies has stimulated improved economic performance in other countries in the region. Despite this, the economic improvement in some emerging market countries is not yet regarded sufficient to compensate for the slowdown in advanced economies. In response to these developments, further contraction is predicted in the global economy, although at a lesser pace.

scholarly journals The Interaction of Macroeconomic Variables on Capital Inflow in Emerging Market Countries in ASEAN: Panel Error Correction Model Approach

2019 ◽  
pp. 1357-1364
Author(s):  
Hasdi Aimon ◽  
Rika Utami Restihani ◽  
Anggi Putri Kurniadi
Keyword(s):  
Error Correction ◽  
Emerging Market ◽  
Error Correction Model ◽  
Capital Inflow ◽  
Capital Inflows ◽  
Short Term ◽  
Return To Equilibrium ◽  
Correction Model ◽  
Emerging Market Countries

This study investigates the short and long-term determinants of capital inflows in emerging market countries in ASEAN using the Panel Error Correction Model. This study uses panel data with a time series from 2000 to 2017 and a cross-section of five countries (Indonesia, Malaysia, Philippines, Thailand, and Vietnam). This study has three important findings. First, conditions of exchange rate, foreign reserve, and lending rate disrupt the equilibrium of capital inflow in the short term. Second, current account conditions disrupt the equilibrium in the long term. Third, capital inflow will return to equilibrium in the long term. Therefore, it is highly recommended for emerging market countries in ASEAN to stabilize the variables that disrupt the equilibrium in the long and short term to stabilize their capital inflow.

scholarly journals Sudden Stops and Capital Controls: When to Apply in Turkey

2016 ◽  
Vol 8 (4) ◽  
pp. 289
Author(s):  
Cenk Gokce Adas ◽  
F. Yesim Kartalli
Keyword(s):  
Emerging Market ◽  
Theoretical Background ◽  
Capital Inflows ◽  
Sudden Stops ◽  
Control Mechanisms ◽  
Capital Movements ◽  
Emerging Market Countries ◽  
Institutional Structures ◽  
Domestic Savings ◽  
Before And After

Emerging market countries need capital inflows to finance their current account deficits since their domestic savings are not at desired levels. Foreign direct investment is the appreciated form of capital inflows. However, indirect capital inflows can also boost growth if used in a proper manner. If a country has weak fundamentals and institutional structures or there exists an external shock, speculative foreign capital can easily and rapidly fly away while leaving a financial crisis behind. In this study, we summarize the theoretical background of sudden stops, and then try to identify the sudden stops in Turkey for 1996-2009 period and question the reasons of such disruptions. We particularly focus on periods just before and after the global financial crises. To identify a sudden stop period we use “means” and “volatilities” as well as changes in capital inflows/GDP ratios. Finally, we attempt to find out inflow control mechanisms to minimize the volatility of capital movements.

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - June 19, 2017

Policy Papers ◽  
2017 ◽  
Vol 2017 (39) ◽  
Author(s):  
Keyword(s):  
Global Economy ◽  
Policy Agenda ◽  
Economic Policies ◽  
Board Meeting ◽  
Executive Board ◽  
Global Policy ◽  
Balanced Growth ◽  
Work Program ◽  
Economic Opportunities ◽  
Global Challenges

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.

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - June 3, 2009

Policy Papers ◽  
2009 ◽  
Vol 09 ◽  
Author(s):  
Keyword(s):  
Economic Crisis ◽  
Financial Stability ◽  
Strong Support ◽  
International Community ◽  
Board Meeting ◽  
Executive Board ◽  
Work Program ◽  
Global Economic Crisis

Against the backdrop of a global economic crisis, the IMFC has underscored the Fund’s central role in responding to its membership’s needs and restoring prosperity and financial stability. The Fund has acted with alacrity—by overhauling its lending framework; mobilizing strong support and firm pledges toward a tripling of its resources; and continuing to strengthen the quality of its surveillance. The work program is heavy, reflecting the responsibilities assigned to the Fund by the international community and the needs of our membership.

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - October 31, 2011

Policy Papers ◽  
2011 ◽  
Vol 2011 (90) ◽  
Author(s):  
Keyword(s):  
Global Economy ◽  
International Monetary System ◽  
Safety Net ◽  
Shared Vision ◽  
Board Meeting ◽  
Executive Board ◽  
Work Program ◽  
Monetary System ◽  
Insightful Analysis ◽  
New Phase

The global economy has entered a dangerous new phase with severe downside risks. The Fund has been called by the IMFC to contribute to an orderly resolution of these tensions, and the membership must be prepared for bold action. Our first responsibility is to help develop and coordinate solutions to immediate threats to global stability, in particular to provide insightful analysis and policy advice to address fiscalfinancial vulnerabilities and rekindle growth and job creation. Yet we must also be prepared to fortify the global financial safety net. Secondly, we must redouble efforts to make the international monetary system (IMS) stronger in the longer term—through more effective surveillance and a clearer shared vision of the system’s key underpinnings.

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