Policy Papers
2009
November 24, 2009
Maldives-Assessment Letter for the Asian Development Bank and the World Bank
Description: The global crisis has hit the Maldivian economy hard; combined with an unsustainable fiscal expansion, it has led to a large fiscal deficit and severe balance of payments pressures. The authorities are committed to a strong policy adjustment program, and have requested IMF financial support for their program.
November 20, 2009
Framework Administered Account for Selected Fund Activities-Kingdom of the Netherlands-Netherlands Subaccount for Selected Fund Activities
Description: The Fund, represented by the Managing Director, has reached understandings with the Kingdom of the Netherlands—Netherlands acting through the Ministry of Foreign Affairs, to finance capacity building, training and related activities. On the basis of these understandings, the Managing Director has established the essential terms and conditions of the Subaccount, with which the Kingdom of the Netherlands—Netherlands concurs, with respect to the nature, design, and implementation of the activities to be financed and the method by which the costs of the activities will be financed from the Subaccount.
November 13, 2009
Framework Administered Account for Selected Fund Activities-Switzerland Subaccount for Selected Fund Activities
Description: The Fund, represented by the Managing Director, has reached understandings with Switzerland acting through the State Secretariat for Economic Affairs (SECO) (“Switzerland”), to finance capacity building (technical assistance and training) and related activities. On the basis of these understandings, the Managing Director has established the essential terms and conditions of the Subaccount, with which Switzerland concurs, with respect to the nature, design, and implementation of the activities to be financed and the method by which the costs of the activities will be financed from the Subaccount.
November 12, 2009
Fiscal Rules—Anchoring Expectations for Sustainable Public Finances
Description: The sharp increase in fiscal deficits and public debt in most advanced and several developing economies has raised concerns about the sustainability of public finances and highlighted the need for a significant adjustment over the medium term. This paper assesses the usefulness of fiscal rules in supporting fiscal consolidation, discusses the design and implementation of rules based on a new data base spanning the whole Fund membership, and explores the fiscal framework that could be adopted as countries emerge from the crisis.
November 12, 2009
Implementation Plan in Response to Board-Endorsed Recommendations Arising from the IEO Evaluation of IMF Involvement in International Trade Policy Issues
Description:
This paper fulfils the requirement of a forward-looking implementation plan for Board-endorsed recommendations of the IEO Evaluation of IMF Involvement in International Trade Policy Issues (“the Evaluation”).
The Evaluation and the Executive Board’s conclusions provide impetus to re-prioritizing the Fund’s trade policy work. Table 1 sets out the Evaluation’s specific recommendations, Directors’ responses to them, and the proposals for implementation within this framework.
Directors called for recommendations to be implemented within the existing resource envelope—including by achieving closer and more effective cooperation with the WTO—and this implementation plan therefore does not provide detailed costing of individual items.
November 11, 2009
Report on the Technical Assistance Evaluation Mission to the People's Republic of China
Description: As part of the IMF Statistics Department (STA)' s program to evaluate its technical assistance (TA) and training provided to member countries, and with the support of the Chinese authorities and the Fund’s Asia and Pacific Department (APD), a TA/training evaluation mission visited China during March 16-20, 2009. The objectives of the mission were to: (1) evaluate the effectiveness of STA’s TA and training to China during the period 2003-2008; (2) elicit China’s views on how to broaden and enhance the technical cooperation between STA and China; (3) consider the role of the General Data Dissemination System (GDDS) in support of China’s statistical development; and (4) discuss TA and training priorities for the next two years.
November 11, 2009
Framework Administered Account for Selected Fund Activities—European Commission Subaccount for Selected Fund Activities
Description: The Fund, represented by the Managing Director, has reached understandings with the European Commission (EC), to finance capacity building (technical assistance and training) and related activities. On the basis of these understandings, the Managing Director and EC President Barroso signed a framework agreement on January 12, 2009. The provisions of the framework agreement serve as the essential terms and conditions of the Subaccount with respect to the nature, design, and implementation of the activities to be financed and the method by which the costs of the activities will be financed from the Subaccount.
November 11, 2009
Framework Administered Account for Selected Fund Activities—European Investment Bank Subaccount for Selected Fund Activities
Description: The Fund, represented by the Managing Director, has reached understandings with the EIB to finance capacity building (technical assistance and training) and related activities. On the basis of these understandings, the Managing Director has established the essential terms and conditions of the Subaccount, with which EIB concurs, with respect to the nature, design, and implementation of the activities to be financed and the method by which the costs of the activities will be financed from the Subaccount.
November 11, 2009
Framework Administered Account for Selected Fund Activities-The Socialist People's Libyan Arab Jamahiriya Subaccount for Selected Fund Activities
Description: The Fund, represented by the Managing Director, has reached understandings with Libya acting through the Central Bank of Libya (“Libya”), to finance capacity building (technical assistance and training) and related activities. On the basis of these understandings, the Managing Director has established the essential terms and conditions of the Subaccount, with which The Socialist People’s Libyan Arab Jamahiriya concurs, with respect to the nature, design, and implementation of the activities to be financed and the method by which the costs of the activities will be financed from the Subaccount.
November 11, 2009
Framework Administered Account for Selected Fund Activities-Germany Subaccount for Selected Fund Activities
Description: The Fund, represented by the Managing Director, has reached understandings with Germany acting through the German Federal Ministry of Economic Cooperation and Development (“Germany”), to finance capacity building (technical assistance and training) and related activities. On the basis of these understandings, the Managing Director has established the essential terms and conditions of the Subaccount, with which Germany concurs, with respect to the nature, design, and implementation of the activities to be financed and the method by which the costs of the activities will be financed from the Subaccount.