bluuebunny/crossref_metadata_2025 huggingface dataset:
Constitutional and Legal Foundations for Local Self-Government Law-making: Does the Slovak Republic Need More Precise Legal Regulation?
Authors: Mihálik Jaroslav , Šramel Bystrík
Published: August 2019

The law-making process is one of the extremely important forms of local self-government activities. By means of law-making, local self-government regulates the conditions of life and behaviour of the local community living in a particular area of local self-government. Through law-making, therefore, local self-government can significantly interfere with an individual's life. The paper is focused on the analysis of the current legal regulation of the local self-government law-making process in the Slovak Republic and the identification of its weak points. The authors examine the results of control activities of authorities performing the review of constitutionality and legality of local law-making. On this basis, we submit a number of suggestions and incentives for changing the current legal regulation of law-making competence of local self-government.
Decentralisation Processes in Montenegrin Public Administration: Challenges of Health System
Authors: Radević Ivan , Haček Miro
Published: August 2019

The paper aims to assess the organisational design of the public health care system of Montenegro from the organisational and legal standpoint, and in particular from the position of a likelihood for the system decentralisation through an inclusion of local self-governments with the goal to increase the quality of health care. The qualitative analysis is based on the method of case study. The research covers the analysis of Montenegrin legislation, and in particular Montenegrin and European regulations and strategic documents that refer to local self-governments and health care system. Individual and group interviews were conducted with top executives in the Ministry of Health of Montenegro, Health Insurance Fund of Montenegro and Ministry of Public Administration. The research shows that Montenegrin health system is predominantly centralised, and lacks substantial involvement by local self-government in health care related services. The need for a stronger participation of municipalities (and private entities) is indicated, for the purpose of achieving a stronger level of quality of the health care services.
Transport Infrastructure and Economic Growth: From Diminishing Returns to International Trade
Authors: Šlander Sonja , Ogorevc Marko
Published: August 2019

The economic effects of transport infrastructure have been at the forefront of economic research and development policies for the last three decades, after the estimates in the early studies uncovered transport investment as one of the main drivers of economic growth.  This is still widely accepted, and the aim of this paper is to challenge this view by analyzing 657 estimates from 48 production function studies. Our results confirm a positive yet small average output elasticity of transport network, but further add to the literature by showing that the marginal returns of transport infrastructure have been falling since 1950s, especially in the USA and China, while the output elasticities in Europe have been stable but low throughout the entire period. Furthermore, the paper reviews studies on the effeets of new roads on firm-level performance, and concludes, based on the evidence of small marginal returns of transport infrastructure on both macro- and micro-economic level, that a a much more targeted approach to public investment in transport infrastructure is needed, at least in the developed countries.
The Significance of Selected Socio-economic Factors for the Achieving of Fiscal Sustainability of Local Government Units (LGUs) in Poland
Authors: Wojtowicz Katarzyna Aleksandra
Published: August 2019

The article attempts to assess the impact of selected economic and social factors on the fiscal sustainability of 241 urban municipalities in Poland in 2004-2016. The article uses the econometric modelling of panel data. The analysis revealed that most of the variables had a negative impact on local fiscal performance. The main reason for this is the low fiscal autonomy of Polish cities and the strong dependency on grants from the central budget, as well as the high share of unfunded mandates. This situation means that cities are particularly sensitive to the external environment, while at the same time are deprived of fiscal stabilisation instruments allowing them to counteract this problem. It can be an important obstacle to achieving sustainable economic development.
Analysis of Regional Health Plans as Enactments of National Health Policy
Authors: Rozmarinová Jana
Published: August 2019

The article deals with strategic documents created at the regional level in the context of their relevance to the implementation of the national health policy and their relevance to the solution of the inequalities among regions in access to primary care. The aim of this contribution is to map and evaluate the activity of regions in terms of their conceptual activities related to the establishment of regional policy objectives for the 2010-2015 period. The implementation of the national health policy (i.e. the “Health 21” and “Health 2020” programs) is examined in the context of the regional conceptual activities. The obtained results show that the conceptual activities of regions in the area related to health care differ significantly. While some regional development programs devote only a few pages to healthcare issues, other regions create comprehensive concepts of health care. With the measurement of inequalities, we indicate the regions that are underserved with healthcare services, of which only the Ústí nad Labem region shows the plan to dealt with this disadvantage in its strategic health plan.
Measuring Efficiency at the Regional Level: A Data Envelopment Analysis Approach
Authors: Slijepcevic Suncana
Published: August 2019

European countries have been continuously under the pressure to improve public balances and efficiency of public spending. Economic crisis which started during 2007 weakened public finances at the state and local level in countries all over the world. In Croatia local government budgets are still below the pre-crisis level in many local government units. This paper empirically examines efficiency of public expenditures at the regional level. Performance has been investigated by developing a composite indicator of output. Spending efficiency at the regional level was analysed using Data Envelopment Analysis methodology. Results suggest that there are large differences at the regional level in using resources to provide public services. The results show that the local government units in the least efficient county should on average decrease their expenses by 55 percent, while achieving the same performance to become efficient.
How to Create a Successful Regional Startup Ecosystem: A Policy-making Analysis
Authors: Pustovrh Ales , Jaklič Marko , Bole Domen , Zupan Blaž
Published: August 2019

The paper analyses regional startup ecosystems in South-East Europe and policy measures implemented in individual ecosystems. It shows that different startup ecosystems have different levels of support measures and different levels of success in creating, growing and retaining local startups and attracting startups from other regions. Results show that policy-makers can help create attractive ecosystems and thus create business environments that can greatly enhance the attraction of their ecosystem for domestic startup and attract foreign startups. If successful, this can result in a virtuous circle of constantly increasing attractiveness of a regional startup ecosystem.
Regional Development Agencies within the Governance Structures for Regional Development in the Countries of the Former Yugoslavia
Authors: Jovanić Tatjana
Published: August 2019

Regional development agencies (RDAs) have been established in the countries of the former Yugoslavia, where the development of economically underdeveloped areas primarily targeted the federal republics and autonomous provinces. The role of RDAs has been underpinned by the EU due to significance of the cohesion policy for new EU member states (Slovenia and Croatia), the process of association and negotiations on regional policy and the coordination of structural instruments for candidate and potential candidate countries. The paper elaborates on whether and to what extent the RDAs are expected to enhance national administrative capacities for programming, coordination and implementation of financial assistance. On the basis of a normative analysis of policy documents, relevant legislation and desk-research of the core competences and activities of the RDAs, the paper aims to portray the institutional arrangements for regional development, in particular the role of RDAs in the promotion of productivity and growth. Although regional partnerships have emerged as new collaborative governance structures, the principle of partnership is not fully respected as a result of strong centralization, the multitude of actors with overlapping roles and the underdeveloped systemic communication with stakeholders.
A compreensão e a legitimação da literatura digital brasileira: o caso da revista Texto Digital
Authors: Rocha Rejane Cristina , Amâncio Nair Renata
Published: August 2019

A Revista Texto Digital é um periódico de publicação semestral, mantida pelo NUPILL (Núcleo de Pesquisa em Informática, Literatura e Linguística) e sediada na Universidade Federal de Santa Catarina, que se dedica às discussões relativas às relações entre arte e informática desde a sua criação, em 2004. A Revista, além de publicar artigos e ensaios de cunho teórico-crítico a respeito dos temas abarcados pelo seu escopo, publica, também, desde 2006, “criações digitais”, reunidas em cada número em seção homônima. O presente artigo tem como objetivo discutir a referida seção que, desde o ano 2006, é dedicada à publicação de obras que articulam a linguagem artística e a linguagem computacional. Interessa-nos, sobretudo, mapear a literatura digital que tem sido publicada nessa seção, com o objetivo de refletir sobre o papel que cumpre a revista como meio de circulação e de legitimação de uma produção literária emergente e experimental.
Vozes e figuras: por uma retórica digital das obras de literatura eletrônica latino-americanas
Authors: Meza Nohelia
Published: August 2019

A textualidade digital das obras latino-americanas de literatura eletrônica é composta por uma diversidade de discursos culturais. Para abordar a complexidade de suas interseções e materialidades, examinamos esses discursos usando metodologias da Retórica Digital, Estudos Culturais da América Latina e Análise do Discurso. Nosso objetivo é estudar o papel das práticas retóricas digitais na construção do discurso cultural das produções digitais latino-americanas. Nosso corpus inicial é composto por seis obras eletrônicas que pertencem a diferentes gêneros, gerações, textualidades e países. Nossos resultados mostram que estudar as interseções entre retórica, escrita e tecnologia torna possível identificar características nacionais / regionais, limitações e novos processos criativos entre autores latino-americanos. Além disso, abre-se a questão de como prevalecem os discursos latino-americanos anteriores à era digital, assim como desafiam e se impõem contra a imensa variabilidade das ferramentas multimodais, multimídia e hipermídia que são utilizadas para sua composição e design, a fim de fornecer ascender a uma retórica de identidade nos trabalhos.
Gênero e performatividade em Webcomics
Authors: Paniagua Maya Zalbidea
Published: August 2019

A remediação de quadrinhos para webcomics e quadrinhos animados em flash será explicada destacando os modos audiovisuais que eles compartilham com obras de literatura eletrônica. Além de enfatizar as mudanças nos processos de leitura, publicação e comercialização, o objetivo principal deste artigo é comparar os papéis de gênero em personagens de webcomics com as teorias de performatividade e desnaturalização de Judith Butler. Neste estudo, a liberdade da autora, para lidar com temas polêmicos, como sexualidade e gênero, é vista como uma possibilidade de exploração de questões de gênero e queer que não foram levadas em consideração em pesquisas anteriores. Quatro webcomics sobre questões de gênero serão analisados enfatizando os conceitos de Judith Butler: The Sisterhood story de SinFest (2008) por Tatsuya Ishida; Khaos-Komix (2007-2012) por Tab Kimpton; YU + ME: dream (2004); I was kidnapped by lesbian pirates from outer space (2006-2011) de Megan Rose Gedris; e The Gay Monsters (2007) de Andy Bauer. A representação de diferentes subjetividades, em um gênero popular como webcomic, desafia as convenções sociais tradicionais e populariza ao indivíduo a aceitação de sua própria sexualidade.
Cross-medialità odeporica: dai blogs all’intelligenza artificiale
Authors: Calzati Stefano
Published: August 2019

In questo articolo si esplorano alcune forme di cross-medialità digitale della letteratura di viaggio: i blogs, i social network, le apps e il caso estremo in cui è una forma di Intelligenza Artificiale (IA) ad essere in controllo della stesura del testo. Dopo aver evidenziato la difficoltà di trovare una definizione condivisa degli scritti odeporici, si propone di considerarli non solo come un genere, ma anche come una prassi testuale che emerge dal viaggiare e dallo scrivere intese come pratiche sociali. Da questa prospettiva pragmatica si sottolinea il fatto che più la tecnologia è protagonista nel modo di concepire e mettere in forma (digitale) un viaggio, più tale esperienza e la sua testualizzazione sono oggettificate e trasformate in meri atti tecno-linguistici. Nel caso invece in cui un’IA è (messa) in controllo della narrazione, come l’esperimento 1 the Road mostra, si ritorna a una forma di testualizzazione che richiama gli hypomnemata degli antichi Greci, aprendo una nuova strada per una discussione sul piacere letterario, l’autorialità, e l’emergenza (forse) di un tecno-sé.
The Fund's Financing Role - Reform Proposals on Liquidity and Emergency Assistance
Authors:   International Monetary Fund
Published: August 2019

The possible global repercussions from the ongoing turmoil in the Euro Area and recent calls for enhanced emergency assistance in the Middle East and North African region are reminders of the urgent need for a more effective global financial safety net to deal with increased interconnectedness and volatility. Past work by staff identified gaps in the Fund’s lending toolkit to respond to liquidity needs of members with relatively strong fundamentals affected during systemic crises (the crisis bystanders), and to address urgent financing needs arising in a broader range of circumstances than natural disasters and post-conflict situations. The companion paper on the Review of the Flexible Credit Line (FCL) and Precautionary Credit Line (PCL) also identified gaps in the overall flexibility of the financing toolkit. This paper provides proposals to fill these gaps, while preserving the simplicity and coherence of the lending framework, and balancing members’ financing needs against the need for adequate safeguards for the use of Fund resources.
Managing Director's Action Plan to the International Monetary and Financial Committee
Authors:   International Monetary Fund
Published: August 2019

The risks ahead and the role of the Fund. Global growth is flagging. In the advanced country core of the international monetary system, fiscal and financial vulnerabilities and uncertain growth prospects are feeding on each other, posing instability risks to a world with diminished policy buffers. The Fund’s policy advice on tackling this situation is outlined in the Consolidated Multilateral Surveillance report. While responsibility of implementing the right policies lies with members, the Fund has a responsibility to help--by working out specifics, and finding and coordinating global solutions to immediate threats to global stability. At the same time, we cannot lose sight of the longer-term structural issues in the international monetary system, where at least visible progress if not closure is needed.
2011 Triennial Surveillance Review - External Study - IMF and Global Financial Stability
Authors:   International Monetary Fund
Published: August 2019

External study prepared by John Palmer, Chair, Toronto Leadership Centre, former Superintendent, Office of the Superintendent of Financial Institutions, Canada, former Deputy Managing Director Monetary Authority of Singapore, former Canadian Managing Partner of KPMG and Yoke Wang Tok, Former Senior Advisor to the IMF Executive Director representing ASEAN, Nepal, Fiji and Tonga and former Principal Economist, Monetary Authority of Singapore:

This report aims to provide an independent view of how the Fund is discharging its multilateral surveillance responsibilities, in particular its contribution to global financial stability and crisis prevention, working in coordination with other relevant international groupings/institutions such as the FSB and BIS. As we emerge from the global financial crisis (GFC), the Fund has regained much of its credibility and relevance. The GFC caught many, including the IMF, by surprise. Since then, the Fund has done considerable self-analysis and taken active steps to strengthen its surveillance and policy advice and to improve traction with policy makers. The IEO report on the Fund’s performance in the run-up to the financial and economic crisis identified various shortcomings that needed to be addressed. One of its key findings was the inability of the Fund to connect-the dots, to deliver hard-hitting messages and the difficulty experienced by the Fund in thinking beyond mainstream/official views. Many of the IEO’s findings have relevance to this review.
Analytics of Systemic Crises and the Role of Global Financial Safety Nets
Authors:   International Monetary Fund
Published: August 2019

In response to the global crisis, the Fund overhauled its lending toolkit and boosted its resources, strengthening its ability to pre-empt financial crises. This paper—with the companion paper on Mapping Cross-Border Financial Linkages—takes another look at the recent global crisis in the context of a broader review of past systemic crises to (i) assess whether rising linkages across countries is a source of latent systemic instability and (ii) ascertain whether the global financial safety net (GFSN) is adequate to contain crisis and contagion risks arising from such systemic instability. This paper develops a new methodology to identify systemic crises and reviews associated policy responses from a global, rather than country-level, perspective
Managing Sovereign Debt and Debt Markets through a Crisis - Practical Insights and Policy Lessons
Authors:   International Monetary Fund
Published: August 2019

The crisis highlighted the importance of debt management in containing debt-related risks and the associated impact on debt markets. The impact of the crisis on debt levels, and the consequent implications for fiscal consolidation, has been the subject of much discussion and analysis. However, there has been relatively less focus on the issue of how that debt should be managed, including how its composition should be structured so as to mitigate key risk exposures, and its implications for debt market functioning. That task proved significantly complex and challenging through the crisis, particularly in advanced economies, with additional dimensions of risk revealed.
Fourth Periodic Monitoring Report on the Status of Implementation Plans in Response to Board-Endorsed IEO Recommendations
Authors:   International Monetary Fund
Published: August 2019

Fourth Periodic Monitoring Report on the Status of Implementation Plans in Response to Board-Endorsed IEO Recommendations
2011 Review of the Standards and Codes Initiative
Authors:   International Monetary Fund
Published: August 2019

The Standards and Codes Initiative (“Initiative”) has been identified as one of several building blocks for the overhaul of the global financial architecture after the Asian crisis in the late 1990s. Twelve policy areas were selected as key for sound financial systems and a framework for Reports on the Observance of Standard and Codes (ROSCs) was established and has been implemented by the Bank and the Fund for about a decade.

Since the Initiative’s inception, a majority of member countries have had one or more ROSCs, although—in part due to the voluntary nature of ROSCs—the coverage is not fully complete.

After peaking in 2003, the annual number of ROSCs completed has declined considerably. In particular, the number of fiscal transparency and data ROSCs has dropped, reflecting the downsizing of the Fund, and changes in departmental priorities. The reduction in financial sector ROSCs—generally done as a part of the Financial Sector Assessment Program (FSAP)—has been less, although fewer ROSCs have been done per FSAP.

Revisions to the standards to incorporate the lessons from the crisis, the initiatives of the Financial Stability Board (FSB), and changes to financial surveillance are likely to have important implications for the future of the Initiative. In particular, the commitment by FSB members to undergo FSAPs every 5 years and the FSB’s framework to enhance adherence to international financial standards are likely to boost demand for financial sector ROSCs. These resource pressures impose a greater burden on the prioritization process, and strategic decisions will have to be made to augment resources for the Initiative or on where the resource cuts could come from in order to maintain adequate coverage of non-G20 countries.
Report on the Technical Assistance Evaluation Mission to Transition Economies - Albania and Georgia
Authors:   International Monetary Fund
Published: August 2019

This evaluation of technical assistance (TA) and training in statistics looks at the experience of two transition economies, Albania and Georgia, during roughly the period 2005–2010. The TA, including the training, to these countries covered all the topical areas on which the IMF’s Statistics Department’s (STA) focuses, i.e., national accounts, price statistics, and monetary, balance of payments and government finance statistics, albeit with differing emphases between the two countries. Part of the assistance was funded directly from the IMF’s budget, while other elements (in particular the peripatetic advisors) were financed externally, in these cases by the Japanese government.
Macroeconomic Policy Frameworks for Resource-Rich Developing Countries--Analytic Frameworks and Applications
Authors:   International Monetary Fund
Published: August 2019

This supplement presents the analytical frameworks underlying the IMF’s staff’s enhanced policy analysis and advice to resource-rich developing countries (RRDCs). The proposed macro-fiscal models, which are applied to selected country or regional cases, are aimed at addressing questions regarding how to deal with resource revenue uncertainty and how to scale up spending within relevant frameworks that ensure fiscal and external sustainability while addressing absorptive capacity constraints. The country applications confirm the importance attached by both IMF staff and country authorities of using the appropriate macro-fiscal frameworks to address the specific challenges faced by RRDCs.
2012 Spillover Report - Background Papers
Authors:   International Monetary Fund
Published: August 2019

This note conducts a business cycle accounting analysis for systemic economies, with an emphasis on spillover effects from macroeconomic versus financial shocks. The systemic economies under consideration are China, the Euro Area, Japan, the United Kingdom, and the United States. This analysis is based on historical decompositions of output growth derived from the estimated structural macroeconometric model of the world economy, disaggregated into thirty five national economies, documented in Vitek (2012). Within this framework, each economy is represented by interconnected real, external, monetary, fiscal, and financial sectors. Spillovers are transmitted across economies via trade, financial, and commodity price linkages
Quota Formula Review - Data Update and Further Considerations - Supplementary Information
Authors:   International Monetary Fund
Published: August 2019

This Annex presents additional staff work on financial interconnectedness. The analysis examines a possible methodology for constructing indicators of financial interconnectedness and related data issues. In addition, it presents some illustrative simulation results.This annex focuses on financial interconnectedness that takes into account the pattern and size of cross-border financial linkages and potentially provides a more comprehensive picture of a country’s international financial integration
Enhancing Surveillance - Interconnectedness and Clusters - Background Paper
Authors:   International Monetary Fund
Published: August 2019

This paper provides additional detail for the framework discussed in “Enhancing Surveillance – Interconnectedness and Clusters” through theoretical and empirical analysis of linkages, including case studies of Saudi Arabia, the Asian supply chain, financial interconnectedness and cross-border policy dependence in banking, and the Sweden-Baltic connections. It also provides a detailed primer on network analysis.
Extension of the Period for Consent to Increase Quotas Under the Fourteenth General Review of Quotas, the 2008 Reform of Quota and Voice, and the Eleventh General Review of Quotas
Authors:   International Monetary Fund
Published: August 2019

This paper proposes a further six-month extension of the period for consent to increase quotas under the Fourteenth General Review of Quotas. The current deadline is due to expire on December 31, 2014; however, Board of Governor’s Resolution No. 66-2 provides that the Executive Board may extend the period for consent as it may determine. An extension under Resolution No. 66-2 will also extend the periods of consent for quota increases under the 2008 Reform of Quota and Voice (Resolution No. 63-2) and the Eleventh General Review of Quotas (Resolution No. 53- 2).
2014 Triennial Surveillance Review - Managing Director’s Action Plan for Strengthening Surveillance
Authors:   International Monetary Fund
Published: August 2019

The 2014 review of surveillance comes at a critical juncture for the Fund and its member countries. Policymakers are navigating a brittle, uneven recovery that is still marred by the lingering effects of the crisis. They are also continuing to adapt to the challenges of a highly interconnected world, shielding their economies from potential negative spillovers while also striving to harness the benefits of globalization. It is imperative that Fund surveillance is positioned to help our members best chart this course. This paper presents specific proposals in the priority areas agreed in the 2014 Triennial Surveillance Review (TSR). These actions will help ensure that surveillance meets the current and future needs of the membership, and the wider global economic community.
Key Trends in Implementing the Fund's Transparency Policy
Authors:   International Monetary Fund
Published: August 2019

At the time of the 2005 review of the Fund’s transparency policy, it was agreed that information on key trends in implementation of the transparency policy would be circulated to the Board regularly, along with lists indicating the publication status of reports discussed by the Board. The set of tables provided in this report updates the last Key Trends with information on documents issued to the Board through December 2013.
Staff Guidance Note on Macroprudential Policy - Considerations for Low Income Countries
Authors:   International Monetary Fund
Published: August 2019

This note explores how characteristics of financial systems commonly observed in low income countries may shape the approach to the staff’s advice on macroprudential policy. It explores the implications of the ongoing process of financial and institutional development for the conduct of macroprudential policy in these countries. This note is a supplement to the Staff Guidance Note on Macroprudential Policy.
Provisional Agenda for the Thirtieth Meeting of the International Monetary and Financial Committee
Authors:   International Monetary Fund
Published: August 2019

The following is the provisional agenda for the Thirtieth Meeting of the International Monetary and Financial Committee, which is to be convened at the IMF's Headquarters in Washington, D.C. on October 11, 2014
Managing Director’s Global Policy Agenda to the International Monetary and Financial Committee
Authors:   International Monetary Fund
Published: August 2019

The latest snapshot of the global economy looks uneasily familiar: a brittle, uneven recovery, with slower-than-expected growth and increasing downside risks. Bold and resolutely executed policies are needed to prevent growth from settling into a “new mediocre,” with unacceptably low job creation and inclusion. Measures should emphasize: lifting growth, building resilience, and achieving coherence.
The IMF will help members deliver on this policy agenda by redeploying resources toward lending and capacity building for members facing pressing challenges; strengthening macro-financial surveillance; providing policy advice and analysis on managing the impending monetary normalization, including on deploying macro-prudential tools; and implementing growth-friendly fiscal policies and macro-critical structural reforms. Staff will also build on existing work and develop options for next steps should ratification of the 2010 reforms be delayed beyond year end.
Review of the IMF's Communications Strategy
Authors:   International Monetary Fund
Published: August 2019

The framework guiding the IMF’s communications—established by the Executive Board in 2007—has enabled the institution to respond flexibly to the changing global context. The framework is based on four guiding principles: (i) deepening understanding and support for the Fund’s role and policies; (ii) better integrating communications into the IMF’s daily operations; (iii) raising the impact of new communications materials and technologies; and (iv) rebalancing outreach efforts to take account of different audiences. In addition, greater emphasis has been placed on strengthening internal communications to help ensure institutional coherence in the Fund’s outreach activities.

Continued efforts are needed to strengthen communications going forward. Several issues deserve particular attention. First, taking further steps to ensure clarity and consistency in communication in a world where demand for Fund services continues to rise. Second, doing more to assess the impact of IMF communications and thus better inform efforts going forward. Third, engaging strategically and prudently with new media—including social media.
Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - June 11, 2014
Authors:   International Monetary Fund
Published: August 2019

The Global Policy Agenda (GPA) presented to the IMFC in April 2014 identified a range of actions needed to transform the modest, uneven, and fragile recovery into more rapid, balanced, and sustainable growth. These actions included policies to manage monetary normalization and the associated policy spillovers and spillbacks; reforms to ensure robust growth while reducing vulnerabilities; and steps to facilitate external rebalancing. The GPA also outlined how the Fund would support the membership through assessments and policy advice provided in bilateral and multilateral surveillance, capacity building, and financial support
Managing Director’s Global Policy Agenda to the International Monetary and Financial Committee
Authors:   International Monetary Fund
Published: August 2019

etary and Financial Committee
Publication Date: April 5, 2014 Electronic Access:Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file Summary:Global activity is strengthening, but the recovery is uneven and remains too weak for comfort, with geopolitical tensions injecting new concerns. Key challenges include risks from a lasting rise in capital flow volatility for emerging and frontier economies and very low inflation in advanced economies, especially the euro area. Creating a more dynamic, job rich global economy remains our collective goal. For this, policymakers should manage the recovery more actively and reinforce their cooperation to minimize negative spillovers and promote financial stability.

The Executive Summary is also available in
Arabic , Chinese, French, Japanese, Russian , and Spanish.
Lag for Public Access to the Minutes of Executive Board Meetings
Authors:   International Monetary Fund
Published: August 2019

At the recent Review of the Fund’s Transparency Policy on June 24, 2013, the Executive Board agreed to further consider options to reduce the time lag for public access to Executive Board meeting minutes under the Open Archives Policy. Although a majority of Executive Directors saw scope for reducing the time lag for public access to Board meeting minutes from five years to three years, a significant minority of Directors favored maintaining the existing lag in order to strike a balance between informing the public about the Board’s views and maintaining the candor of Board discussions. The Board requested that staff undertake further analysis of the issue. Accordingly, this paper provides a more detailed assessment of the current practice and a discussion of the potential costs and benefits of possible options for further reform.
Review of the Fund's Strategy on Anti-Money Laundering and Combating the Financing of Terrorism
Authors:   International Monetary Fund
Published: August 2019

The Fund’s Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) program represents an important contribution to the international community’s response to money laundering and terrorist financing over the past decade. The program originally focused primarily on (a) AML/CFT assessments – as part of the Reports on the Observance of Standards and Codes (ROSC) program and of the Financial Sector Assessment Program (FSAP) – and (b) capacity development activities. Following guidance provided by the Board in 2011, money laundering, terrorist financing and related predicate crimes issues (hereinafter also referred to as financial integrity issues) are being raised in the context of surveillance when they are judged to affect domestic and balance of payments stability. Moreover, some recent Fund-supported programs have also incorporated financial integrity issues.
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: August 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
2010 Reforms and Fifteenth General Review of Quotas - Report of the Executive Board to the Board of Governors - Decision
Authors:   International Monetary Fund
Published: August 2019

In completing the Fourteenth General Review of Quotas (hereafter the “Fourteenth Review”) and approving the Proposed Amendment on the Reform of the Executive Board (hereafter the “Board Reform Amendment”), the Board of Governors requested the Executive Board to bring forward the timetable for completion of the Fifteenth General Review of Quotas (hereafter the “Fifteenth Review”) to January 2014. The Executive Board was also requested to complete a comprehensive quota formula review by January 2013. These forward-looking elements were part of an agreed package of 2010 quota and governance reforms (hereafter the “2010 Reforms”). Each member committed to use its best efforts to complete the required steps for the effectiveness of the quota increases under the Fourteenth Review no later than the Annual Meetings in 2012
SDR Currency Basket—Proposed Extension of the Valuation of the SDR
Authors:   International Monetary Fund
Published: August 2019

This paper proposes an extension of the current SDR valuation basket for a period of nine months to September 30, 2016. This extension would respond to feedback from SDR users on the desirability of avoiding changes in the basket at the end of the calendar year and facilitate the continued smooth functioning of SDR-related operations. As discussed at the informal Board meeting on July 29, this proposal does not in any way prejudge the outcome of the Review of the Method of Valuation of the SDR.
Quota Formula - Data Update
Authors:   International Monetary Fund
Published: August 2019

The IMF staff has updated individual member country data for the variables used in the quota formula for the period 2001-13.

The staff paper also presents updated calculated quota shares based on the current quota formula. The current quota formula includes a GDP variable, which is a blend of GDP at market rates and GDP at purchasing power parity (PPP), openness, variability, and international reserves. The International Monetary and Financial Committee has called for agreement on a new quota formula as part of the 15th General Review of Quotas. The paper presents a limited set of illustrative simulations of possible reforms of the quota formula using the updated quota data. These simulations are purely illustrative and do not represent proposals.

The new data tables that can be downloaded via the below link include also the comparable value of each variable for the previous quota dataset, which was based on data covering the period 2000-2012. The information is presented in millions of SDRs (Table A1) and in percent of their respective global totals (Tables A2 and A3). A table showing calculated quota shares based on the current quota formula is also included (Table A4).

Data sources and a description of the quota variables are discussed in Quota Formula – Data Update - Statistical Appendix; IMF Policy Paper; July 2015.

Download Quota Data: Updated IMF Quota Formula Variables - July 2015
Nepal - Assessment Letter for the World Bank
Authors:   International Monetary Fund
Published: August 2019

Before the earthquakes of April 25 and May 12, Nepal’s macroeconomic performance was relatively strong: Growth accelerated to 5.5 percent in 2013/14, thanks largely to a favorable monsoon; Inflation had been moderating, broadly in line with developments in India, but remained high at 7 percent (y/y) in March 2015; The fiscal position in 2013/14 (mid-July 2013 to mid-July 2014) was again in surplus, on account of under-execution of spending amid solid revenue growth. As a result, public debt eased further, to 25 percent of GDP. The trend of budget under-execution continued through April 2015, indicating that a small fiscal surplus looked again likely in 2014/15. Public debt remained on a declining path; The external position remained strong. The current account surplus reached 4.6 percent of GDP in 2013/14, as remittances continued to grow rapidly, reaching a record-high 28 percent of GDP. Net of remittances, however, Nepal ran a current account deficit of 23.6 percent of GDP in 2013/14. International reserves rose to US$6.2 billion by March 2015, equal to 29 percent of GDP and covering almost eight months of prospective imports.

The earthquakes are expected to cause an initial slowdown in economic activity.
Managing Director's Global Policy Agenda to the International Monetary and Financial Committee
Authors:   International Monetary Fund
Published: August 2019

Against a backdrop of declining oil prices, sharp variations in exchange rates, and market volatility, global growth remains uneven. The prospect of a new mediocre lingers as medium-term forecasts have been marked down since the last GPA.
Promoting balanced, sustained growth requires an integrated policy package that bolsters today’s actual and tomorrow’s potential output, diminishes risks, and confronts emerging global challenges.

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The Executive Summary is also available in:
Arabic , Chinese, French, Japanese, Russian, and Spanish.
Provisional Agenda for the Thirty-First Meeting of the IMFC
Authors:   International Monetary Fund
Published: August 2019

The following is the provisional agenda for the Thirty-First Meeting of the International Monetary and Financial Committee, which is to be convened at the IMF's Headquarters in Washington, D.C. on April 17, 2015.
2010 Reforms and Fifteenth General Review of Quotas - Report of the Executive Board to the Board of Governors - Decision
Authors:   International Monetary Fund
Published: August 2019

In completing the Fourteenth General Review of Quotas (hereafter the “Fourteenth Review”) and approving the Proposed Amendment on the Reform of the Executive Board (hereafter the “Board Reform Amendment”), the Board of Governors requested the Executive Board to bring forward the timetable for completion of the Fifteenth General Review of Quotas (hereafter the “Fifteenth Review”) to January 2014. The Executive Board was also requested to complete a comprehensive quota formula review by January 2013. These forward-looking elements were part of an agreed package of 2010 quota and governance reforms (hereafter the “2010 Reforms”). Each member committed to use its best efforts to complete the required steps for the effectiveness of the quota increases under the Fourteenth Review no later than the Annual Meetings in 2012.
Macroeconomic Developments and Prospects in Low-Income Developing Countries - 2016
Authors:   International Monetary Fund
Published: August 2019

This paper is the third in a series assessing macroeconomic developments and prospects in low-income developing countries (LIDCs). The first of these papers (IMF, 2014a) examined trends during 2000–2014, a period of sustained strong growth across most LIDCs. The second paper (IMF, 2015a) focused on the impact of the drop in global commodity prices since mid-2014 on LIDCs—a story with losers (countries dependent on commodity exports, notably fuel) and winners (countries with a more diverse export base, where growth remained robust).

The overarching theme in this paper’s assessment of the macroeconomic conjuncture among LIDCs is that of incomplete adjustment to the new world of “lower for long” commodity prices, with many commodity exporters still far from a sustainable macroeconomic trajectory (Chapter 1). The analysis of risks and vulnerabilities focuses on financial sector stresses and medium-term fiscal risks, pointing to the actions, including capacity building, needed to manage and contain these challenges over time (Chapter 2). With 2016 the first year of the march towards the 2030 development goals, the paper also looks at how infrastructure investment can be accelerated in LIDCs, given that weaknesses in public infrastructure (such as energy, transportation systems) in LIDCs are widely seen as a key constraint on medium-term growth potential (Chapter 3).

With the sharp adjustment in commodity prices now into its third year, some of the key messages of the paper are familiar: a) many commodity exporters, notably fuel producers, remain under significant economic stress, with sluggish growth, large fiscal imbalances, and weakened foreign reserve positions; b) countries with a more diversified export base are generally doing well, although several have been hit by declines in remittances, conflict/natural disasters, and the contractionary impact of macroeconomic stabilization programs; c) widening fiscal imbalances, in both commodity and diversified exporters, have resulted in rising debt levels, with severe financing stress emerging in some cases; and d) financial sector stresses have emerged in many LIDCs, with expectations that these strains will increase in many commodity exporters over the next 12–18 months. Key messages on financial sector oversight, on medium-term fiscal risks, and on tackling infrastructure gaps are flagged below.

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Progress Report to the International Monetary and Financial Committee on the Activities of the Independent Evaluation Office of the IMF
Authors:   International Monetary Fund
Published: August 2019

This report summarizes the outcome of the IEO’s evaluation of The IMF and the Crises in Greece, Ireland, and Portugal, discussed by the Executive Board on July 19, 2016, and reports on recent follow-up and ongoing IEO work.
FY2016 - Output Cost Estimates and Budget Outturn Paper
Authors:   International Monetary Fund
Published: August 2019

Operating within a flat real budget envelope, the Fund delivered on the priorities and initiatives laid out in the Global Policy Agenda and Management’s Key Goals (MKGs). Resource pressures were addressed via implementation of streamlining initiatives, strategic reallocation of resources towards higher priority areas, and careful budget management.

In terms of outputs, spending in FY 16 continued the shift from crisis management to crisis prevention, in line with the MKGs. Output shifted moderately from multilateral surveillance and oversight of the global system to bilateral surveillance and capacity development. Lending activity expenditure remained broadly unchanged. Average country spending was broadly aligned with assessment of risk.

The net administrative budget outturn in FY 16 was $1,038 million against an approved budget of $1,052 million. The modest underspend reflects the preservation of the contingency reserve and lower-than-planned travel expenditure. Relative to FY 15, higher budget execution led to a small real (0.8 percent) year-on-year increase in net expenditures.

Total capital expenditures of $131 million were recorded in FY 16 out of the $435 million in available appropriations. HQ1 Renewal expenses made up 70 percent of the spending.
2016 External Sector Report - Individual Economy Assessments
Authors:   International Monetary Fund
Published: August 2019

The external sector assessments use a wide range of methods, including the External Balance Assessment (EBA) developed by the IMF’s Research Department to estimate desired current account balances and real exchange rates (see Annex I of the 2015 External Sector Report, also IMF Working Paper WP/13/272 for a complete description of the EBA methodology).
In all cases, the overall assessment is based on the judgment of IMF staff drawing on the inputs provided by these model estimates and other analysis and the estimates are subject to uncertainty.
The assessments discuss a broad range of external indicators: the current account, the real effective exchange rate, capital and financial accounts flows and measures, FX intervention and reserves and the foreign asset or liability position. The individual economy assessments are discussed with the respective authorities as a part of bilateral surveillance.
Implementation Plan in Response to the Board-Endorsed Recommendations for the IEO Evaluation Report on Self-Evaluation at the IMF
Authors:   International Monetary Fund
Published: August 2019

This paper sets out Management’s response to the Independent Evaluation Office’s (IEO) evaluation report on Self-Evaluation at the IMF.

The implementation plan proposes specific actions to address the recommendations of the IEO that were endorsed by the Board in its September 18, 2015 discussion of the IEO’s report, namely: (i) adopt a broad policy or general principles for self-evaluation in the IMF, including its goals, scope, outputs, utilization, and follow-up; (ii) give country authorities the opportunity to express their views on program design and results, and IMF performance; (iii) for each policy and thematic review, explicitly set out a plan for how the policies and operations it covers will be self-evaluated; (iv) develop products and activities aimed at distilling and disseminating evaluative findings and lessons.

The implementation of some of these proposed actions is already underway. The paper also explains how implementation will be monitored.