scholarly journals Review of The Method of Valuation of The SDR—Proposed Extension of The Valuation Of The SDR Basket and Modification of The Date Of Effect of A New Basket

Policy Papers ◽  
2021 ◽  
Vol 2021 (017) ◽  
Author(s):  
◽  
◽  
◽  
Keyword(s):  
Executive Board ◽  
Yearly Cycle ◽  
Special Drawing ◽  
The Imf

On March 5, 2021, the IMF’s Executive Board approved an extension of the current Special Drawing Right (SDR) valuation basket by ten months from September 30, 2021 to July 31, 2022. The IMF normally reviews the composition and valuation of the SDR basket every five years. The extension effectively resets the five-yearly cycle of SDR valuation reviews, with the next review to be completed by mid-2022 and the new basket becoming effective on August 1, 2022. The ten-month extension contributes to the Fund’s ongoing efforts to prioritize work during the COVID-19 crisis and allows for a more suitable effectiveness date of the new basket, which does not coincide with some major markets being closed. The approved extension, as well as effectiveness date of a new basket, is intended to facilitate the continued smooth functioning of SDR-related operations.

The imf Conditionality in the Age of Post-National Governance

2021 ◽  
pp. 1-27
Author(s):  
Vojtěch Belling ◽  
Lukáš Kollert ◽  
Martin Vojta
Keyword(s):  
Member State ◽  
Program Design ◽  
Currency Union ◽  
Currency Unions ◽  
Monetary Unions ◽  
Executive Board ◽  
Member States ◽  
Board Decision ◽  
Supranational Institutions ◽  
The Imf

Abstract The paper focuses on conditionality in imf programs for member states of monetary unions in light of the decision of the imf’s Executive Board on Program Design in Currency Unions (2018). Despite the growing importance of supranational institutions, the imf lacked until 2018 any explicit framework for imposing conditions on currency union bodies in cases where a member state of such a union requested an imf program. The aim of this paper is to assess the newly adopted imf approach to conditionality for currency union institutions based on the concept of “policy assurances” and to answer the question of whether the imf had authority to impose conditions on supranational institutions prior to the 2018 Board decision and whether the imf should in principle have such authority.

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

2021 ◽  
Author(s):  
Keyword(s):  
United Nations ◽  
International Monetary Fund ◽  
International Organizations ◽  
Executive Board ◽  
Second Amendment ◽  
Board Of Governors ◽  
The International Monetary Fund ◽  
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.

The Content of IMF Staff Reports for Euro Area Countries

2014 ◽  
pp. 272-292
Author(s):  
Lena Golubovskaja
Keyword(s):  
Standard Deviation ◽  
Euro Area ◽  
Mean Value ◽  
Systematic Bias ◽  
Executive Board ◽  
Sample Mean ◽  
Warning Tone ◽  
The Mean ◽  
Run Up ◽  
The Imf

This chapter analyzes the tone and information content of the two external policy reports of the Internal Monetary Fund (IMF), the IMF Article IV Staff Reports, and Executive Board Assessments for Euro area countries. In particular, the researchers create a tone measure denoted WARNING based on the existing DICTION 5.0 Hardship dictionary. This study finds that in the run-up to the current credit crises, average WARNING tone levels of Staff Reports for Slovenia, Luxembourg, Greece, and Malta are one standard deviation above the EMU sample mean; and for Spain and Belgium, they are one standard deviation below the mean value. Furthermore, on average for Staff Reports over the period 2005-2007, there are insignificant differences between the EMU sample mean and Staff Reports’ yearly averages. Researchers find the presence of a significantly increased level of WARNING tone in 2006 (compared to the previous year) for the IMF Article IV Staff Reports. There is also a systematic bias of WARNING scores for Executive Board Assessments versus WARNING scores for the Staff Reports.

Progress Report on the Activities of the Independent Evaluation Office

Policy Papers ◽  
2011 ◽  
Vol 2011 (73) ◽  
Author(s):  
Keyword(s):  
Progress Report ◽  
International Reserves ◽  
Learning From Experience ◽  
Executive Board ◽  
Evaluation Systems ◽  
Self Evaluation ◽  
Public Comment ◽  
Independent Evaluation ◽  
The Imf

Since its last report to the IMFC in April 2011, the Independent Evaluation Office (IEO) completed the evaluation of Research at the IMF: Relevance and Utilization. The IEO continues its work on the evaluations of “International Reserves: IMF Advice and Country Perspectives” and of “The Role of the IMF as Trusted Advisor,” announced last spring. Draft issues papers on these two evaluations, as well as on a new study, “Learning from Experience at the IMF: An IEO Assessment of Self-Evaluation Systems,” were circulated to the Executive Board and posted on the IEO website for public comment.

Report of the Managing Director to the Board of Governors and to the Executive Board Pursuant to Article XVIII, Section 4©

Policy Papers ◽  
2016 ◽  
Vol 2016 (24) ◽  
Author(s):  
Keyword(s):  
Executive Board ◽  
Board Of Governors ◽  
Basic Period ◽  
Special Drawing ◽  
Special Drawing Rights

This report is submitted pursuant the provisions of the Articles of Agreement relating to a general allocation or cancellation of Special Drawing Rights (SDR). The Articles provide for periodic consideration and decisions on SDR allocations or cancellations in the context of consecutive basic periods of normally five years of duration (Article XVIII, Section 2(a)). The Tenth Basic Period for a general allocation or cancellation of SDRs began on January 1, 2012 and is scheduled to end on December 31, 2016. The Eleventh Basic Period will commence on January 1, 2017.

Framework Administered Account for Selected Fund Activities - IMF-Middle East Center for Economics and Finance Subaccount for Selected Fund Activities

Policy Papers ◽  
2010 ◽  
Vol 2010 (91) ◽  
Author(s):  
Keyword(s):  
Middle East ◽  
Financial Resources ◽  
Executive Board ◽  
New Framework ◽  
The Imf

In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for selected Fund activities (the “SFA Instrument”). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of a subaccount within the SFA. This paper requests Executive Board approval to establish the IMF-Middle East Center for Economics and Finance Subaccount for Selected Fund Activities (the “Subaccount”) under the terms of the SFA Instrument.

Proposed Amendment on the Reform of the IMF Executive Board and Fourteenth General Review of Quotas—Status of Acceptances and Consents

Policy Papers ◽  
2012 ◽  
Vol 2012 (102) ◽  
Author(s):  
Keyword(s):  
Status Report ◽  
Executive Board ◽  
General Review ◽  
Board Of Governors ◽  
The Status ◽  
Board Reform ◽  
Governance Reforms ◽  
The Imf

This status report reviews progress toward implementation of the 2010 Quota and Governance Reforms. It updates the status of consents to the proposed quota increases under the 14th General Review of Quotas and of acceptances of the Proposed Seventh Amendment on the Reform of the Executive Board (“Board Reform Amendment” or “Seventh Amendment”) as set out in the Board of Governors Resolution No. 66-2.

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