bluuebunny/crossref_metadata_2025 huggingface dataset:
Efficiently Processing Big Data in Real-Time Employing Deep Learning Algorithms
Authors: Khan Murad , Silva Bhagya Nathali , Han Kijun
Published: September 2019

Big Data and deep computation are among the buzzwords in the present sophisticated digital world. Big Data has emerged with the expeditious growth of digital data. This chapter addresses the problem of employing deep learning algorithms in Big Data analytics. Unlike the traditional algorithms, this chapter comes up with various solutions to employ advanced deep learning mechanisms with less complexity and finally present a generic solution. The deep learning algorithms require less time to process the big amount of data based on different contexts. However, collecting the accurate feature and classifying the context into patterns using neural networks algorithms require high time and complexity. Therefore, using deep learning algorithms in integration with neural networks can bring optimize solutions. Consequently, the aim of this chapter is to provide an overview of how the advance deep learning algorithms can be used to solve various existing challenges in Big Data analytics.
Deep-Learning-Based Classification and Diagnosis of Alzheimer's Disease
Authors: Janghel Rekh Ram
Published: September 2019

Alzheimer's is the most common form of dementia in India and it is one of the leading causes of death in the world. Currently it is diagnosed by calculating the MSME score and by manual study of MRI scan. In this chapter, the authors develop and compare different methods to diagnose and predict Alzheimer's disease by processing structural magnetic resonance image scans (MRI scans) with deep learning neural networks. The authors implement one model of deep-learning networks which are convolution neural network (CNN). They use four different architectures of CNN, namely Lenet-5, AlexNet, ZFNet, and R-CNN architecture. The best accuracies for 75-25 cross validation and 90-10 cross validation are 97.68% and 98.75%, respectively, and achieved by ZFNet architecture of convolution neural network. This research will help in further studies on improving the accuracy of Alzheimer's diagnosis and prediction using neural networks.
Learning about Complex Systems from the Bottom Up
Authors: Levy Sharona T.
Published: September 2019

The topic of learning through collaborative role-playing in computer-based participatory simulations of complex systems in STEM is presented. Participatory simulations are networked classroom activities aimed at learning about complex systems. In the process of learning, students query its underlying structure and explore its spatial, temporal and mathematical patterns in various conditions. The importance of understanding complex systems is highlighted, driving the main question in this chapter: How can we design learning experiences that support students' deep learning of emergent systems? The motivations behind using participatory simulations and their various designs are described as well as some of the more central learning research, cumulating with five studies into designs for such activities in science. Based on this research, eight design principles are introduced and future research directions are proposed.
Involvement of GPx4-Regulated Lipid Peroxidation in Idiopathic Pulmonary Fibrosis Pathogenesis
Authors: Tsubouchi Kazuya , Araya Jun , Yoshida Masahiro , Sakamoto Taro , Koumura Tomoko , Minagawa Shunsuke , Hara Hiromichi , Hosaka Yusuke , Ichikawa Akihiro , Saito Nayuta , Kadota Tsukasa , Kurita Yusuke , Kobayashi Kenji , Ito Saburo , Fujita Yu , Utsumi Hirofumi , Hashimoto Mitsuo , Wakui Hiroshi , Numata Takanori , Kaneko Yumi , Mori Shohei , Asano Hisatoshi , Matsudaira Hideki , Ohtsuka Takashi , Nakayama Katsutoshi , Nakanishi Yoichi , Imai Hirotaka , Kuwano Kazuyoshi
Published: September 2019

The imbalanced redox status in lung has been widely implicated in idiopathic pulmonary fibrosis (IPF) pathogenesis. To regulate redox status, hydrogen peroxide must be adequately reduced to water by glutathione peroxidases (GPx). Among GPx isoforms, GPx4 is a unique antioxidant enzyme that can directly reduce phospholipid hydroperoxide. Increased lipid peroxidation products have been demonstrated in IPF lungs, suggesting the participation of imbalanced lipid peroxidation in IPF pathogenesis, which can be modulated by GPx4. In this study, we sought to examine the involvement of GPx4-modulated lipid peroxidation in regulating TGF-β–induced myofibroblast differentiation. Bleomycin-induced lung fibrosis development in mouse models with genetic manipulation of GPx4 were examined. Immunohistochemical evaluations for GPx4 and lipid peroxidation were performed in IPF lung tissues. Immunohistochemical evaluations showed reduced GPx4 expression levels accompanied by increased 4-hydroxy-2-nonenal in fibroblastic focus in IPF lungs. TGF-β–induced myofibroblast differentiation was enhanced by GPx4 knockdown with concomitantly enhanced lipid peroxidation and SMAD2/SMAD3 signaling. Heterozygous GPx4-deficient mice showed enhancement of bleomycin-induced lung fibrosis, which was attenuated in GPx4-transgenic mice in association with lipid peroxidation and SMAD signaling. Regulating lipid peroxidation by Trolox showed efficient attenuation of bleomycin-induced lung fibrosis development. These findings suggest that increased lipid peroxidation resulting from reduced GPx4 expression levels may be causally associated with lung fibrosis development through enhanced TGF-β signaling linked to myofibroblast accumulation of fibroblastic focus formation during IPF pathogenesis. It is likely that regulating lipid peroxidation caused by reduced GPx4 can be a promising target for an antifibrotic modality of treatment for IPF.
Cross-Reactive Antigen Expressed by B6 Splenocytes Drives Receptor Editing and Marginal Zone Differentiation of IgG2a-Reactive AM14 Vκ8 B Cells
Authors: Nündel Kerstin , Mande Purvi , Moses Stephanie L. , Busto Patricia , Cullen Jaime L. , Schmidt Madelyn R. , Shlomchik Mark J. , Woodland Robert T. , Marshak-Rothstein Ann
Published: September 2019

The AM14 BCR, derived from an autoimmune MRL/lpr mouse, binds autologous IgG2aa/j with low affinity, and as a result, AM14 B cells only proliferate in response to IgG2a immune complexes that incorporate DNA, RNA, or nucleic acid–binding proteins that serve as autoadjuvants. As such, AM14 B cells have served as a useful model for demonstrating the importance of BCR/TLR coengagement in the activation of autoreactive B cells. We now show that the same receptor recognizes an additional murine-encoded Ag, expressed by B6 splenocytes, with sufficient avidity to induce a TLR-independent proliferative response of BALB/c AM14 Vκ8 B cells both in vivo and in vitro. Moreover, detection of this cross-reactive Ag by B6 AM14 Vκ8 B cells promotes an anergic phenotype as reflected by suboptimal responses to BCR cross-linking and the absence of mature B cells in the bone marrow. The B6 Ag further impacts B cell development as shown by a dramatically expanded marginal zone compartment and extensive receptor editing in B6 AM14 Vκ8 mice but not BALB/c AM14 Vκ8 mice. Despite their anergic phenotypes, B6 AM14 Vκ8 B cells can respond robustly to autoantigen/autoadjuvant immune complexes and could therefore participate in both autoimmune responses and host defense.
Clarithromycin versus levofloxacin-based regimens for Helicobacter pylori eradication in the Kurdistan Region of Iraq: A randomized clinical trial
Authors: Mohammed Shinah A. , Al-lela Omer Q. B. , Hussein Nawfal R. , Hajany Ramadhan S. , Alduhoky Laween S.
Published: September 2019

Helicobacter pylori infection is a predisposing factor for gastric cancer. This prospective, randomized clinical trial aimed to compare H. pylori eradication rates associated with a clarithromycin-based regimen and levofloxacin-based regimen. H. pylori infection was confirmed by a rapid urease test during endoscopy and its eradication by a urea breath test. In this study, 192 patients were recruited; 93 patients received a clarithromycin- based regimen and 99 a levofloxacin- based regimen. Sixty-four patients completed the clarithromycinbased regimen and 60 the levofloxacinbased regimen. The eradication success rate of the clarithromycin-based regimen was 52/64 (81.25%), while that of the levofloxacin- based regimen was 49/60 (81.6%) (P=0.9524; odds ratio [OR]=1.0280; confidence interval [CI]=0.4153-2.5447). Investigation of the risk factors associated with treatment failure showed that the overall efficacy of the regimens was influenced by body mass index (BMI), with a high failure rate observed in patients with a high BMI (P=0.0174; OR=1.1116; CI=1.0187- 1.2129). Age, sex, endoscopic diagnosis and smoking did not influence treatment outcomes. Further studies are needed to monitor H. pylori antibiotic resistance rates.
Alternating flexed-extended posturing in progressive supranuclear palsy
Authors: Ishii Nobuyuki , Mochizuki Hitoshi
Published: September 2019

A 69-year-old man who had been bedridden in nursing home because of a 5-year history of progressive supranuclear palsy (PSP) was admitted due to aspiration pneumonia. Besides neck dystonia in extension, he showed “alternating flexed–extended posturing”, in which the arm was flexed on one side and extended on the other. Magnetic resonance imaging of the brain revealed global cerebral atrophy that predominantly affected the cortex and midbrain. The mechanisms of complex posturing in late-stage PSP may sometimes be related to decortication and decerebration as well as dystonia, and “alternating flexed–extended posturing” might be one of the phenotypes of pathological progression in PSP.
On stability in the Borg–Hochstadt theorem for periodic Jacobi matrices
Authors: Golinskii Leonid B.
Published: September 2019

A result of Borg–Hochstadt in the theory of periodic Jacobi matrices states that such a matrix has constant diagonals as long as all gaps in its spectrum are closed (have zero length). We suggest a quantitative version of this result by proving two-sided bounds between oscillations of the matrix entries along the diagonals and the length of the maximal gap in the spectrum.
Panama
Authors:   International Monetary Fund. Western Hemisphere Dept.
Published: September 2019

Panama has had the longest and fastest economic expansion in recent Latin American history. The economy has expanded at an average rate of about
6 percent per annum over the last quarter of a century, with Panama achieving one of the highest per capita income in Latin America. More recently, GDP grew by about
5½ percent in 2017 (driven by the expanded Canal), and then slowed to 3¾ percent (y/y) in H1-2018. Inflation remained subdued, reaching almost 1 percent (y/y) in September 2018. The external current account deficit stayed at 8 percent of GDP in 2017, mostly covered by FDI. The fiscal position continued to be strong, with the overall deficit of the non-financial public sector (NFPS) at about 1½ percent of GDP. Credit growth has decelerated as financial conditions have started to tighten.
Panama
Authors:   International Monetary Fund. Western Hemisphere Dept.
Published: September 2019

Selected Issues
Poverty Reduction and Growth Trust-Review of Interest Rate Structure
Authors:   International Monetary Fund. Finance Dept.,   International Monetary Fund. Strategy, Policy, &,   Review Department
Published: September 2019

This paper reviews the Poverty Reduction and Growth Trust (PRGT) interest rate structure for the period July 2019–June 2021.
Since the interest rate mechanism was first established in 2009, no interest has been charged on PRGT credit.
In line with the package of reforms proposed in the parallel Review of LIC Facilities, this paper proposes to align interest rates on the SCF with those on the ECF.
Based on the average SDR rate over the most recently observed 12-month period, the proposed revised interest rate mechanism would result in zero interest rates on both ECF and SCF credit for the period July 2019–June 2021.
Methodology for CGER Exchange Rate Assessments
Authors:   International Monetary Fund
Published: September 2019

Exchange rate surveillance has always been at the core of the IMF’s responsibilities. Throughout its existence, the Fund has strived to strengthen its framework for assessing exchange rates, adapting it to underlying macroeconomic and financial developments in member countries. As part of this mandate, since the mid-1990s the Consultative Group on Exchange Rate Issues (CGER) has provided exchange rate assessments for a number of advanced economies from a multilateral perspective, with the aim of informing the country-specific analysis of Article IV Staff Reports and fostering multilateral consistency.
Initiative for Heavily Indebted Poor Countries - Issues Related to the Sunset Clause
Authors:   International Monetary Fund
Published: September 2019

This paper responds to the Boards’ request to present a proposal addressing country eligibility under the HIPC Initiative sunset clause and discuss related issues. It builds on an informal note to the Boards which explored a number of options to deal with the sunset clause of the HIPC Initiative, which is scheduled to take effect at end-2006. It addresses the concerns raised by Directors in their discussion of the note in July 2006 and proposes that the sunset clause be allowed to take effect and the countries that are assessed to have met the income and indebtedness criteria based on end-2004 data be grandfathered. In response to concerns raised by Directors, it also discusses the issue of a permanent exit from the Initiative for countries wishing to do so.
Review of the Fund's Strategy on Overdue Financial Obligations
Authors:   International Monetary Fund
Published: September 2019

This paper reviews progress under the Fund’s strengthened cooperative strategy on overdue financial obligations since the last review and proposes to extend the availability of the rights approach by another year, to end-August 2007. Section II reviews recent developments regarding overdue financial obligations to the Fund through end-June 2006. Progress under the Fund’s strategy on arrears and developments in the protracted arrears cases are discussed in Section III. A draft decision to extend the availability of the rights approach until end-August 2007 is provided in Section IV.
Kosovo - Assessment of MFd's Technical Assistance Program
Authors:   International Monetary Fund
Published: September 2019

MFD technical assistance to Kosovo has been provided under special circumstances, since it is not a member of the IMF or of the World Bank. As a region within the former Federal Republic of Yugoslavia severely affected by the war with Serbia, Kosovo has been administered by the UNMIK on the basis of UN Security Council Decision 1244 of June 10, 1999. After the end of the war, the UNMIK requested technical assistance from the IMF. The IMF's Executive Board approved this request, and MFD began providing TA in late 1999.
Quotas and Voice - Further Thoughts on Approaches to Reform
Authors:   International Monetary Fund
Published: September 2019

There is now widespread recognition that addressing quota and voice imbalances across the membership is essential for preserving the effectiveness of the Fund and its credibility as a cooperative institution. As noted in the Managing Director’s Report on Implementing the Medium-Term Strategy,2 members’ quotas have become increasingly out of line with countries’ economic weight in the global economy. In addition, the declining role of basic votes since the Fund was established has weakened the voice of smaller developing countries.
Country Insurance - The Role of Domestic Policies
Authors:   International Monetary Fund
Published: September 2019

Member countries are routinely faced with a range of shocks that can contribute to higher volatility in aggregate output and, in extreme cases, to economic crises. The presence of such risks underlies a potential demand for mechanisms to soften the blow from adverse economic shocks -- “country insurance” for short. Protective measures that countries can take themselves (“self-insurance”) include sound economic policies, robust financial structures, and adequate reserve coverage. Beyond self insurance, countries have also established regional arrangements that pool risks, while at the multilateral level the IMF has a central role in making its resources temporarily available to attenuate the costs of economic adjustment when shocks create balance of payments difficulties for a member. This paper analyzes a number of mechanisms through which countries can self-insure, leaving the role of collective regional and multilateral arrangements to subsequent papers.
Report of the Managing Director to the International Monetary and Financial Committee on the IMF's Policy Agenda
Authors:   International Monetary Fund
Published: September 2019

This report provides an update of the work and direction of the Fund since the 2005 Annual Meetings. Over the past six months, a principal area of work has been the development of concrete proposals for the implementation of the Managing Director’s Report on the Fund’s Medium-Term Strategy, endorsed by the IMFC last September.
Managing Director's Statement to the Development Committee
Authors:   International Monetary Fund
Published: September 2019

A Statement from the Managing Director of the International Monetary Fund, Rodrigo de Rato, for the Committee's seventy-third meeting to be held in Washington, D.C., on Sunday, April 23, 2006.
The Fund's Medium-Term Income - Outlook and Options
Authors:   International Monetary Fund
Published: September 2019

This paper puts forward a number of measures which, if implemented, would eliminate the income gap in FY07. However, these measure still leave a large financing gap moving forward. Therefore, further work is needed to examine mechanisms for financing the Fund’s operations in the medium-term in a manner that ensures that the Fund has a sound financial basis to operate without relying on sharp growth in lending.
Guidance Note on the Exogenous Shocks Facility
Authors:   International Monetary Fund
Published: September 2019

The ESF, established within the Poverty Reduction and Growth Facility and Exogenous Shocks Facility (PRGF-ESF) Trust, complements existing Fund instruments for providing timely support, including financing at more appropriate terms, to low-income members that are facing sudden and exogenous shocks but do not have a PRGF arrangement in place. In particular, the ESF: (i) facilitates quick access to more concessional financing than the Fund’s Emergency Assistance and the Compensatory Financing Facility (CFF);1 (ii) helps members design and implement a policy framework adequate for adjustment to shocks while ensuring adequate safeguards for the use of the Trust resources; and (iii) plays a catalytic role for further and more concessional donor financing.
Revised Staff Statement on Principles Underlying the Guidelines on Conditionality and Operational Guidance Note on the 2002 Conditionality Guidelines
Authors:   International Monetary Fund
Published: September 2019

Adoption of new guidelines for conditionality has been motivated by an increasing recognition of the importance of several interrelated principles for successful design and implementation of Fund-supported programs. Chief among these are national ownership of reform programs, parsimony in the application of program-related conditions, tailoring of programs to the member’s circumstances, effective coordination with other multilateral institutions, and clarity in the specification of conditions.

The operational issues covered in the note are grouped into three areas: (i) the process of negotiation and program design; (ii) the design of conditionality; and (iii) the presentation of conditionality in Board papers for the use of Fund resources. In some cases, implementing the guidelines involves the development of new practices. In other cases, new practices had already been adopted in selected cases, which should become routine.
The Fund's Income Position for FY 2008 - Midyear Review
Authors:   International Monetary Fund
Published: September 2019

This paper provides the basis for the Executive Board’s midyear review of the Fund’s income position based on developments in the first half of FY 2008. Under Rule I-6(4) of the Fund’s Rules and Regulations, the Executive Board should consider whether the margin over the SDR interest rate used to calculate the rate of charge as determined at the beginning of the year should be changed in light of the actual income position for the first six months.
Heavily Indebted Poor Countries Initiative-Delivery of Debt Relief by Non-Paris Club Official Bilateral Creditors
Authors:   International Monetary Fund
Published: September 2019

The table provides information on HIPC (Heavily Indebted Poor Country) Initiative debt relief provided by each non-Paris Club official bilateral creditor to post-completion point HIPCs. It tracks the HIPC Initiative debt relief granted by these creditors so far. The table will be updated annually in the context of the "HIPC Initiative Status of Implementation Report." It will also be updated when creditors and debtors provide comprehensive information for updating the estimates of HIPC Initiative debt relief provided.
Report of the Managing Director to the International Monetary and Financial Committee on the IMF's Policy Agenda
Authors:   International Monetary Fund
Published: September 2019

This report reviews the work of the Fund since the 2007 Spring Meetings and the priorities for the period ahead. Progress has been made in the past few months with respect to the framework for surveillance and its implementation, quota and voice, and the Fund’s income model. Other key aspects of the MTS have also advanced, including with regard to Bank-Fund collaboration and the Fund’s role in low-income countries. Future work will focus on completion of the quota and voice reform, reaching agreement on the Fund’s new income model, and delivering budgetary restraint, as well as addressing the evolving challenges facing the Fund and the world economy, notably the financial market turbulence and financial globalization. The paper reports on recent developments in the global economy (Section II) and progress in the following key areas: reshaping surveillance (Section III); emerging market economies and crisis prevention (Section IV); the role of the Fund in low-income countries (Section V); quota and voice issues (Section VI), building institutions and capacity (Section VII); and managing an effective institution (Section VIII).
Review of the Fund's Strategy on Overdue Financial Obligations
Authors:   International Monetary Fund
Published: September 2019

This paper provides an annual review of progress under the Fund’s strengthened cooperative strategy on overdue financial obligations and proposes to extend the availability of the rights approach by another year, to end-August 2008. The rights approach could provide a useful mechanism for arrears clearance for the remaining eligible members, depending on their specific circumstances. A draft decision to this effect is provided in Section V.
Manual on Fiscal Transparency, revised April 2007
Authors:   International Monetary Fund
Published: September 2019

The Manual, which is a companion document to the IMF’s Code of Good Practices on Fiscal Transparency (2007), has been revised to reflect the new Code and to provide more recent examples of good practice by individual countries. The Manual expands and explains the pillars and principles of the Code and provides richer and more in-depth coverage of each good practice. Country examples are taken from Reports on Standards and Codes (ROSCs). The Manual also includes new linkages to the Guide on Resource Revenue Transparency (2007), including reporting on contracts, quasi-fiscal activities and use of public assets.
Framework Administered Account for Selected Fund Activities-Kingdom of the Netherlands-Netherlands Subaccount for Selected Fund Activities
Authors:   International Monetary Fund
Published: September 2019

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.
Implementation Plan in Response to Board-Endorsed Recommendations Arising from the IEO Evaluation of IMF Interactions with Member Countries
Authors:   International Monetary Fund
Published: September 2019

This paper presents a forward-looking implementation plan for Board-endorsed recommendations of the IEO Evaluation of IMF Interactions with Member Countries. Executive Directors welcomed the important insights offered into the effectiveness of these interactions, which are key to the Fund’s ability to achieve its goals. They broadly supported the need to enhance the traction of Fund surveillance, improve the effectiveness of outreach, and strengthen the management of interactions. Directors, nonetheless, “observed that the report covers principally the pre-crisis period, and significant progress has been made on several fronts since then.” In drawing up the implementation plan, this note focuses on points commanding broad support by the Executive Board, and builds on existing plans and ongoing reform initiatives that are broadly aligned with the evaluation’s recommendations.
Implementation Plan in Response to Board-Endorsed Recommendations Arising from the IEO Evaluation of IMF Interactions with Member Countries
Authors:   International Monetary Fund
Published: September 2019

This supplement reports on progress on various issues outlined in the staff’s Implementation Plan since its initial issuance on June 1, 2010.

Many of the steps included in the Implementation Plan, particularly proposals in the Mandate papers still under consideration last June, have been taken forward. These initiatives are aimed at better integration of bilateral and multilateral surveillance, sharpening analysis of financial sector issues and macro-financial linkages, and better tailoring of the Fund’s lending toolkit to members’ needs and circumstances. Many further initiatives are included in the latest Work Program, which was discussed by the Board on November 22, 2010.
The Fund's Income Position for FY 2011 - Midyear Review
Authors:   International Monetary Fund
Published: September 2019

This paper updates the outlook for the IMF’s income position for the financial year 2011 taking into account developments in the first half of the year. The outlook has improved primarily reflecting additional lending activity, which raised the projected average credit outstanding in FY 2011 by about SDR 3 billion to SDR 54 billion. Net operational income for FY 2011 is projected at SDR 328 million, some SDR 126 million higher than the projection in April 2010.1 The actual outcome is subject to considerable uncertainty related to the timing and amounts of disbursements under current and potential new arrangements and the performance of the Investment Account (IA).
Understanding Financial Interconnectedness
Authors:   International Monetary Fund
Published: September 2019

This paper seeks to advance our understanding of global financial interconnectedness by (i) mapping aspects of the architecture of global finance and (ii) investigating critical fault lines related to interconnectedness along which systemic risks were built up and shocks transmitted in the crisis. It thus takes initial steps toward operationalizing enhanced financial sector and macro-financial surveillance called for by the IMF’s Executive Board and by experts such as de Larosiere et al. (2009). Getting a better handle on interconnectedness would strengthen the Fund‘s ability, together with the Financial Stability Board, to track systemic risk concentrations. It would also inform spillover and vulnerability analyses, and sharpen bilateral and multilateral surveillance.
Reference Note on Trade Policy, Preferential Trade Agreements, and WTO Consistency
Authors:   International Monetary Fund
Published: September 2019

This Reference Note introduces guidance on preferential trade agreements (PTAs). In so doing, it responds to the request by the Executive Board in the context of the Independent Evaluation Office (IEO) Evaluation of IMF Involvement in Trade Policy Issues. Section II provides context for the Fund’s work on trade policy, drawing upon the 2009 IEO Evaluation, the 2005 Review of Fund Work on Trade, and the discussion of the Executive Board on these occasions. Section III reflects issues presented in Preferential Trade Agreements—Issues for the Fund, discussed at an informal Board seminar in December 2006.
Niger - 2010 Assessment Letter for the European Union and African Development Bank
Authors:   International Monetary Fund
Published: September 2019

Niger’s macroeconomic performance and policies through end-January 2010 were assessed in the IMF Country Report No. 10/146, issued following the completion of the third program review under the arrangement under the Extended Credit Facility (ECF) from the IMF. Since the military intervention in February, the near-term growth outlook has weakened, reflecting the intensity of the food crisis and some contraction in public spending, but the outlook for 2011 is broadly favorable provided that budgetary policies remain appropriately cautious, that normal weather conditions prevail, and that donor support for Niger picks up.
Benin - Assessment Letter for the World Bank
Authors:   International Monetary Fund
Published: September 2019

Technical Assistance (TA) is one of the IMF’s core activities whose purpose is to help member countries improve the design and implementation of their macroeconomic policies. To ensure that the Fund’s TA meets the needs of the membership, and is efficient and effective, the Executive Board established in 2002 the TA Evaluation Program. Under this program, announced to the Executive Board on a three-year rolling schedule, each year a number of evaluations are carried out. These consist of self-assessments by IMF departments providing TA plus independent assessments of donor-financed TA. Since 2003, more than two dozen TA evaluations were produced, covering all IMF TA departments plus the IMF’s Regional Technical Assistance Centers (RTACs). Periodically the IMF staff submits to the Executive Board a review of the findings of the TA evaluation reports produced during the preceding period.
Proposed Decision to Modify the New Arrangements to Borrow
Authors:   International Monetary Fund
Published: September 2019

This paper examines cross-country perspectives on economies with large banking systems relative to GDP. As such economies tend to have domestic institutions with major foreign currency cross-border activities, strong links are generated between the health of the financial system and sovereign sustainability. These links are of central interest to the paper. It does not cover off-shore centers as their international links tend to be relatively unrelated to domestic activities.

To make the analysis more concrete, the experience of five economies—Hong Kong SAR, Iceland, Ireland, Singapore, and Switzerland—are featured (plus a Box on the Benelux region). These economies had large and relatively diversified international banking sectors compared to their fiscal capacity before the global financial crisis of 2007–09, and divergent experiences over the crisis. The paper analyzes the reasons for these outcomes. (A range of private and public sector individuals were interviewed during missions to Belgium, Hong Kong SAR, Ireland, Singapore, Switzerland, and the United Kingdom.)
Borrowing Agreement with the Bank of Finland
Authors:   International Monetary Fund
Published: September 2019

This paper is one in a series of follow-up papers on The Fund’s Mandate—An Overview and The Fund’s Mandate—The Legal Framework discussed by the Executive Board on February 22, 2010. This paper proposes ideas to modernize the mandate and modalities of surveillance. It addresses how the Fund might increase the value of its surveillance by considering both the substance of surveillance (what it should do) and its modalities (how to do it). The main ideas focus on how the Fund can do more—and more sharply defined—multilateral surveillance, generate greater value and traction from bilateral surveillance, and integrate the two better. Options to buttress multilateral surveillance include doing more analysis of outward spillovers, holding multilateral consultations as needed on special topics to foster collaboration and collective action, and strengthening financial sector surveillance by mapping interconnectedness across borders and sectors and the transmission channels of macro-financial instability. The adoption of Multilateral Surveillance Decision could help support these ideas. Options to increase the value and traction of bilateral surveillance include promoting better cross-country understanding, with more thematic multi-country reports, producing more timely and topical reports, and increasing outreach and engagement with stakeholders.
Borrowing Agreement with the Oesterreichische Nationalbank
Authors:   International Monetary Fund
Published: September 2019

In light of the multilateral effort to ensure the adequacy of the financial resources available to the International Monetary Fund (the “Fund”), and with a view to supporting the Fund’s ability to provide timely and effective balance of payments assistance to its members, the Oesterreichische Nationalbank (“OeNB”) agrees to lend to the Fund an SDR-denominated amount up to the equivalent of EUR 2.18 billion, on the terms and conditions set out in this paper
The Fund’s Mandate - An Overview
Authors:   International Monetary Fund
Published: September 2019

This paper, and a companion piece on legal aspects “The Fund’s Mandate—The Legal Framework,” is the first in a series of reflections on the Fund’s mandate—on what it should be doing to promote global stability and how the membership might support that process. At this stage, the aim is not to put forward concrete proposals but to float ideas with a view to stimulating a broader debate. Follow up papers, based on feedback from the Executive Board and public outreach, are planned ahead of the final report to the IMFC in September.
The Fund's Mandate-The Legal Framework
Authors:   International Monetary Fund
Published: September 2019

This paper is intended to accompany “The Fund’s Role and Mandate—An Overview” (the “Mandate Overview Paper”). Taking into account the issues raised in the Mandate Overview Paper and, in particular, the potential areas for reform that it identifies, this paper provides a brief analysis of both the constraints and flexibility that exist under the existing legal framework. At the outset, it is useful to identify several aspects of this framework that are of particular relevance.
Quota Formula Review - Data Update and Issues
Authors:   International Monetary Fund
Published: September 2019

At the conclusion of the 14th General Review of Quotas (14th Review), the Board of Governors requested that a comprehensive review of the quota formula be completed by the Executive Board by January 2013. The timetable for completing the 15th General Review was also brought forward by two years to January 2014. This paper is intended to serve as background for an initial informal exchange of views on issues relating to the formula review. It begins with a brief stock-take, before presenting the results of updating the quota database through 2009. The remainder of the paper discusses potential issues that could be considered as part of the review.
Report on the Incidence of Longer-Term Program Engagement
Authors:   International Monetary Fund
Published: September 2019

Longer-term program engagement (LTPE) occurs when a member has spent at least seven of the past 10 years under Fund-supported financial arrangements. In response to the Executive Board’s request for periodic updates on the incidence of LTPEs, this is the twelfth such report and provides information through June 22, 2011.
2011 Triennial Surveillance Review - External Report on Interviews with Country Authorities
Authors:   International Monetary Fund
Published: September 2019

Report prepared by Jack Boorman, Former Director of the Policy Development and Review Department and Teresa Ter-Minassian, former Director of the Fiscal Affairs Department at the IMF:

This report summarizes the views of a representative sample of country authorities on IMF surveillance.
Kingdom of Swaziland - Assessment Letter for Multilateral and Bilateral Donors
Authors:   International Monetary Fund
Published: September 2019

This letter provides an assessment of recent macroeconomic developments in Swaziland and an update on the discussions between IMF staff and the Swaziland authorities. Swaziland faces a fiscal crisis caused by an 11 percent of GDP drop in revenue payments from the Southern African Customs Union (SACU) and one of the largest wage bills in Africa. In response, the authorities have put in place an ambitious Fiscal Adjustment Roadmap and requested IMF staff to monitor its implementation. The IMF Managing Director approved a Staff-Monitored Program with Swaziland on April 4, 2011, that seeks to start the necessary fiscal adjustment, while protecting education, health, and pro-poor spending and improving public financial management. Securing adequate financing in 2011/12 will be critical to avert a more severe fiscal situation.
Statement by the Managing Director on Updating the Strategic Directions in the Medium-Term Budget - Executive Board Meeting - April 20, 2011
Authors:   International Monetary Fund
Published: September 2019

In early 2008, the Fund launched ambitious reforms to enhance its ability to deliver the economic and financial analysis, member support, and multilateral collaboration essential to promote global stability. The reform agenda called for: (i) stronger surveillance through sharpened multilateral and regional tools, analysis of macro-financial and international linkages, and greater use of cross-country work in bilateral surveillance; (ii) sharper policy advice for low-income countries, with emphasis on areas of core Fund expertise; (iii) improved capacity building efforts to be augmented by more external fund-raising; and (iv) a modernized governance structure to enhance the Fund’s legitimacy and better reflect its role as a universal institution capable of facilitating global cooperation and action. With the onset of the global financial crisis later in 2008, the Fund also committed to reforming its lending toolkit, including overhauling its concessional support instruments, to ensure that its facilities fully met members’ evolving needs.
FY2012-FY2014 Medium-Term Budget
Authors:   International Monetary Fund
Published: September 2019

With the global financial landscape still unsettled, temporary spending looks set to remain at current levels over the next few years. Lending commitments and crisis-management activities have surged since the onset of the crisis: by the end of December 2010, there were 60 program and financial arrangements in place, compared with 40 at the time of the Fund’s restructuring in early 2008. The higher lending has generated a sharp but temporary rise in income, but has also required an increase in temporary spending. This expenditure will unwind over time, but only marginally over the FY 12–14 MTB period
Framework Administered Account for Selected Fund Activities
Authors:   International Monetary Fund
Published: September 2019

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 World Bank Subaccount for Selected Fund Activities (the “Subaccount”) under the terms of the SFA instrument.
Statement by the Managing Director on Recent Experiences in Managing Capital Inflows—Cross-Cutting Themes and Possible Policy Framework - Executive Board Meeting - March 8, 2011
Authors:   International Monetary Fund
Published: September 2019

The management of capital inflows is an area where historically the Fund has found it difficult to find a clear consensus. Yet our policy advice clearly cannot exclude a whole swath of economic policies—still less an area where the benefits of getting it right are significant, the economic and financial risks of getting it wrong large, and the potential global gains from internalizing multilateral considerations substantial.
Framework Administered Account for Selected Fund Activities - Africa Regional Technical Assistance Center South (AFRITAC South) Subaccount
Authors:   International Monetary Fund
Published: September 2019

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 Africa Regional Technical Assistance Center South (AFRITAC South) Subaccount (the "AFRITAC South Subaccount" or the "Subaccount") under the terms of the SFA Instrument.
Managing Director’s Global Policy Agenda to the International Monetary and Financial Committee
Authors:   International Monetary Fund
Published: September 2019

Over the past five years much has been done to avoid the worst and stave off a great depression. While the recovery has been disappointing until recently, there are some encouraging signs that activity is strengthening in advanced economies. Breaking the cycle of growth shortfalls and recurring market jitters requires carefully managing multiple transitions that are already underway. These transitions include the normalization of global financial conditions; a shift in global growth dynamics, and a rebalancing of global demand; and the completion of reforms to the international financial system. Much more ambitious reform implementation and policy coherence are needed to address these challenges and avoid five more years of growth disappointments.
Provisional Agenda for the Twenty-Eighth Meeting of the International Monetary and Financial Committee
Authors:   International Monetary Fund
Published: September 2019

The following is the provisional agenda for the Twenty-Eight Meeting of the International Monetary and Financial Committee, which is to be convened at the IMF's Headquarters in Washington, D.C. on October 12, 2013
Report on Fiscal Safeguards Pilots
Authors:   International Monetary Fund
Published: September 2019

This paper reports on the results of a pilot exercise on fiscal safeguards conducted by the Fiscal Affairs Department (FAD) during FY2013. The exercise was launched following an independent review of the existing safeguards policy in 2010 in which many Directors encouraged staff to highlight fiscal safeguards risks in cases where a substantial portion of the resources provided by the Fund for balance of payments support is channeled to state treasuries for budget purposes. Pilot fiscal safeguards exercises were conducted for five countries: Antigua and Barbuda, Cyprus, Greece, Ireland, and Kyrgyz Republic.
Guidance Note on Jobs and Growth Issues in Surveillance and Program Work - Supplement on Country Case Studies
Authors:   International Monetary Fund
Published: September 2019

This supplement provides case studies of how countries around the world have addressed jobs and growth challenges, and how Fund staff have helped in this. The studies are meant to provide cross country experience. They share a broad structure, organized around four questions:

? What was the initial situation regarding growth, employment, and income distribution?

? What policy measures were implemented to enhance growth and employment and to even out the distribution of income? Were potential complementarities or trade-offs between enhancing growth, employment, and income distribution considered?

? How did Fund staff help the authorities? For example, in which areas did staff help the authorities analyze issues, how did staff go about analyzing issues, and what were the main considerations that shaped staff’s recommendations?

? What were the results of policy actions taken?
2014 Triennial Surveillance Review - Concept Note
Authors:   International Monetary Fund
Published: September 2019

With the 2011 TSR laying out a wide ranging agenda for surveillance reform, the 2014 review will take a more narrowly focused approach and be mindful of the need to make cost-neutral recommendations. The themes and associated outputs will cover areas that address the IMF’s core mandate of ensuring the stability of the international monetary system, provide the most value-added for the membership, and leverage the Fund’s comparative advantages. The review will be based on: (i) a review and analysis of Article IV reports and multilateral surveillance products; (ii) guidance from an External Advisory Group at key stages of the exercise; (iii) background studies; and (iv) surveys and interviews with country authorities, staff, and other stakeholders. A review of the Financial Sector Assessment Program (FSAP) will be conducted separately but concurrently with the TSR, with close coordination between the relevant authoring teams. The TSR will also take into account the findings of other recent work, including the progress report on the implementation of the Financial Surveillance Strategy, the range of papers on debt issues, the LIC pilot on financial depth and macroeconomic policy, the set of Board papers on the experience with unconventional monetary policies and the challenges of exit from these policies, and the planned discussion of communication issues with the Executive Board.
List of IMF Member Countries with Delays in Completion of Article IV Consultations or Mandatory Financial Stability Assessments Over 18 Months
Authors:   International Monetary Fund
Published: September 2019

The following table lists the IMF members for which the Article IV consultation or the mandatory financial stability assessment has been delayed by more than 18 months. The delay is counted past the scheduled expected date, plus any applicable grace period.
Report on the Incidence of Longer-Term Program Engagement
Authors:   International Monetary Fund
Published: September 2019

Longer-term program engagement (LTPE) occurs when a member has spent at least seven of the past 10 years under Fund-supported financial arrangements. In response to the Executive Board’s request for periodic updates on the incidence of LTPEs, this is the fourteenth such report and provides information through July 1, 2013.
2013 Spillover Report
Authors:   International Monetary Fund
Published: September 2019

Five years after the global financial crisis, the severe tensions and risks rooted last year in some of the “Systemic five” (S5)—China, euro area, Japan, United Kingdom, United States––have abated but all five are still operating below potential, i.e., they are not contributing to global activity as much as they might: if they could somehow close their output gaps, global output would be closer to potential by 3 percentage points. Meanwhile, many parts of the rest of the world have been at or near potential. Most recently though, there have been signs of accelerated recovery in the United States and slowdown in emerging markets. This continued divergence in cyclical positions poses a global challenge, namely to find policies that help the S5 close their output gap without over-stimulating or over-tightening, through spillovers, economies that do not need it.