bluuebunny/crossref_metadata_2025 huggingface dataset:
Fall Behavior Recognition Based on Deep Learning and Image Processing
Authors: Xu He , Shen Leixian , Zhang Qingyun , Cao Guoxu
Published: September 2019

Accidental fall detection for the elderly who live alone can minimize the risk of death and injuries. In this article, we present a new fall detection method based on "deep learning and image, where a human body recognition model-DeeperCut is used. First, a camera is used to get the detection source data, and then the video is split into images which can be input into DeeperCut model. The human key point data in the output map and the label of the pictures are used as training data to input into the fall detection neural network. The output model then judges the fall of the subsequent pictures. In addition, the fall detection system is designed and implemented with using Raspberry Pi hardware in a local network environment. The presented method obtains a 100% fall detection rate in the experimental environment. The false positive rate on the test set is around 1.95% which is very low and can be ignored because this will be checked by using SMS, WeChat and other SNS tools to confirm falls. Experimental results show that the proposed fall behavior recognition is effective and feasible to be deployed in home environment.
Second and third year medical students’ self-reported alcohol and substance use, smoking habits and academic performance at a South African medical school
Authors: Vorster Annelize , Gerber Anthonie M. , Van der Merwe Lynette J. , Van Zyl Sanet
Published: September 2019

Background: Health professional students frequently use alcohol and narcotics. The potential impact on academic performance and professional behaviour is concerning.Aim: This study aimed to determine self-reported use of alcohol, illicit substances (e.g. cannabis, lysergic acid diethylamide [LSD], magic mushroom, cocaine, crack, ecstasy, methamphetamine and heroin), prescription medication and smoking habits, correlating academic performance.Setting: Faculty of Health Sciences, University of the Free State.Methods: An observational, descriptive, cross-sectional study design was used. Information was obtained using a self-administered questionnaire, capturing demographics, self-reported academic performance, drinking and smoking habits, and substance use. Coded responses were analysed using the Remark Office OMR 8 Software System. Descriptive statistics were calculated for categorical variables.Results: Completed questionnaires comprised 171 students. A total of 78.4% of second year and 82.8% of third year students reported using alcohol. Twenty-two per cent of second year and 24.1% of third year students reported cannabis use. In the second year group, three (2.7%) students reported using magic mushroom, two (1.8%) reported cocaine, two (1.8%) reported ecstasy and one (0.9%) reported using methamphetamine. Only third year students reported using LSD or ‘crack’. Cigarette smoking was common – 31.5% and 35.1% in both groups, respectively. Smokeless tobacco devices were used by 8.5% of second year and 7.1% of third year students. Almost 40% of both groups reported that they had smoked a water pipe. Academic performance achieved was mostly 60% – 69% (38.9%) among second year students and 70% – 79% (46.6%) among third year students.Conclusion: Self-reported use of alcohol and drugs and smoking among medical students is alarming. Additional student support, early identification and referral for management and/or rehabilitation should be a priority at tertiary institutions responsible for training future healthcare professionals.
An application of physiotherapy to South African industry
Authors: Elsworth Karen
Published: September 2019

None available
An investigation of on-duty injuries in industry and their relation to the working situation
Authors: Tworeck R. W.
Published: September 2019

No abstract available
Post-meniscectomy rehabilitation
Authors: Janks Ellis
Published: September 2019

Removal of the semi-lunar cartilage/s (menisci) of the knee is a common surgical procedure. Surgeons recognize the importance of an exercise programme supervised by a physiotherapist, in order to obtain the best post-operative rehabilitation. However, the best method of post-operative rehabilitation has been a controversial issue. Controlled studies to determine the relative effectiveness of different treatment regimens are reviewed. Substantial research is being carried out to determine the physiological effects of surgical procedures, subsequent immobilization and different forms of exercise on the leg. These are discussed and considered in formulating the ideal post-meniscectomy rehabilitation programme. The effects and importance of isokinetic exercise is emphasized.
Tunisia
Authors:   International Monetary Fund. Middle East and Central Asia Dept.
Published: September 2019

A subdued recovery unfolds amid economic imbalances and political uncertainty. Growth reached 2.6 percent in 2018, but the unemployment rate persisted above
15 percent. The current account deficit widened to 11.2 percent of GDP on the back of higher oil prices. Inflation has recently stopped its upward trend, but still stood at
6.9 percent in April. Strong revenue performance reduced the fiscal deficit to
4.6 percent of GDP in 2018 from 6.0 percent in 2017 and created space for higher investment and social outlays. All but two Quantitative Performance Criteria and four of the nine Structural Benchmarks for the Fifth Review were met.
Proposed Amendment of the Articles of Agreement Regarding Basic Votes - Preliminary Considerations
Authors:   International Monetary Fund
Published: September 2019

Paragraph 4 of the Board of Governors Resolution on Quota and Voice Reform in the International Monetary Fund, which was adopted effective September 18, 2006 (Resolution 61-5), addresses issues relating to the reform of basic votes in the Fund. Specifically, it provides as follows:
“As an integral part of the reform program, and together with its recommendations for increases in quotas under paragraph 3, the Executive Board is requested to propose to the Board of Governors an amendment of the Fund’s Articles of Agreement that would: (a) provide for at least a doubling of the “basic” votes that each member possesses pursuant to Article XII, Section 5(a) of the Fund’s Articles of Agreement, and thereby at a minimum protect the existing voting share of low income countries as a group and (b) ensure that the ratio of the sum of the “basic” votes of all members to the sum of members’ total voting power remains constant following the increase under (a) above in the event of any subsequent changes in the total voting power of members. The Executive Board is requested to put forward a specific proposal by the Annual Meetings in 2007, and no later than the Annual Meetings in 2008.”

This paper is intended as a first step in facilitating the Executive Board’s response to the above request of the Board of Governors. Specifically, it discusses the design of an amendment of the Articles that would ensure that the ratio of the sum of the basic votes of all members to the sum of members’ total voting power remains constant, as called for in paragraph 4(b) of Resolution 61-5, and identifies implications of such an amendment.
Belize - Assessment Letter for the International Financial Community
Authors:   International Monetary Fund
Published: September 2019

Assessment letters or statements may be prepared for member countries with Fund-supported programs; receiving Fund emergency assistance; with staff-monitored programs; or surveillance-only cases. They are typically produced for use by the country with multilateral or bilateral donors or creditors, in particular the World Bank and other International Financial Institutions.
Rwanda - Assessment Letter for Donors
Authors:   International Monetary Fund
Published: September 2019

Further to the documentation of the sixth review under the PRGF arrangement and the request for a new PRGF arrangement of May 2006, this letter provides an update on the IMF’s relations with Rwanda.
Applying the Debt Sustainability Framework for Low-Income Countries Post Debt Relief
Authors:   International Monetary Fund
Published: September 2019

In April 2006, the Executive Boards of the Bank and the Fund reviewed the debt sustainability framework (DSF) for low-income countries and the implications of the multilateral debt relief initiative. Directors thought that the DSF was broadly appropriate and that no major changes were warranted, but saw scope for additional guidance on the application of the framework in a context where the apparent borrowing space created by debt relief raises new challenges in terms of policy advice. Most Directors supported a case-by-case approach for assessing the appropriate pace of debt accumulation in countries with debt below the DSF thresholds, but requested the development of specific recommendations on the implementation of such a case-by-case approach.
Safeguards Assessments - 2006 Update
Authors:   International Monetary Fund
Published: September 2019

This paper provides Executive Directors with an update of safeguards assessment activities through the first half of 2006. This is the first update report following the review of the safeguards policy in April 2005, when Directors agreed that such reports should be prepared on an annual basis going forward rather than on a semi-annual basis.
Draft Revised Code of Good Practices on Fiscal Transparency
Authors:   International Monetary Fund
Published: September 2019

The IMF is in the process of revising its 2001 Code of Good Practices on Fiscal Transparency. The four core principles of the original Code remain unchanged in the revision: institutional clarity, open budget processes, public information and integrity. However, the document has been updated and broadened to reflect recent developments and practices. The IMF is requesting public comment on the proposed revised Code. The deadline for comments is November 17, 2006.
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 on the work and direction of the Fund since the 2006 Spring Meetings and for the period ahead. Over the past six months work has concentrated on implementing key aspects of the Medium-Term Strategy (MTS), especially in the areas of surveillance and quotas and voice. In surveillance, the new multilateral consultation has been launched, the Board is reviewing the Fund’s general decision on surveillance (the 1977 Decision on Surveillance over Exchange Rate Policies), and it has discussed the possibility of setting a remit for surveillance based on a set of objectives and priorities. Progress is being made on quotas and voice and specific proposals are contained in the report and resolution from the Executive Board to the Board of Governors. Work in other areas has focused on the role of the Fund in emerging markets and low-income countries (LICs), building institutions and capacity, and managing an effective institution.
Report of the Managing Director to the International Monetary and Financial Committee on IMF Quota and Voice Reform
Authors:   International Monetary Fund
Published: September 2019

The April 2006 Communiqué of the IMFC called upon the Managing Director to work with the IMFC and the Executive Board to come forward with concrete proposals on IMF quota and voice reform for agreement at the Singapore Annual Meetings in September 2006. An intensive work program on quotas and voice was launched, involving IMF management and staff consultations with a broad spectrum of the membership and discussions in the Executive Board, building on earlier discussions of this issue, including in the context of the IMF’s medium-term strategy. Specific reform proposals were discussed on several occasions by the Executive Board, most recently on August 31, 2006. I am pleased that the Executive Board reached agreement on a comprehensive program of reforms, and recommended that the Board of Governors adopt, by September 18, 2006, a resolution that provides for a two-year plan of action.
Provisional Agenda for the Fourteenth Meeting of the International Monetary and Financial Committee (IMFC)
Authors:   International Monetary Fund
Published: September 2019

Provisional agenda for the Fourteenth Meeting of the International Monetary and Financial Committee, which is to be convened on Sunday, September 17, 2006 in the Suntec Singapore International Convention and Exhibition Centre in Singapore.
Mauritius - Assessment Letter in the Context of the Aid for Trade Initiative
Authors:   International Monetary Fund
Published: September 2019

This note presents the IMF staff’s assessment of recent macroeconomic developments in Mauritius and the authorities’ reform strategy to address the negative impact of the loss of preferential access for the textile and sugar sectors and to raise potential growth. Drawing on the findings of an IMF staff visit to Mauritius in August 2006, it also updates the most recent staff report on the 2005 Article IV consultation discussed by the Executive Board on December 2, 2005 (published as Country Report No. 06/209.
Doha Development Agenda and Aid for Trade
Authors:   International Monetary Fund
Published: September 2019

This paper summarizes recent developments in the Doha Round negotiations, and aid for trade. As requested by the Development Committee last September, it reviews existing mechanisms for cross-country and regional aid for trade needs. It proposes possible options to overcome the coordination and capacity problems affecting regional cooperation.
Report on the Incidence of Longer-Term Program Engagement
Authors:   International Monetary Fund
Published: September 2019

During the discussion of the conclusions of the Task Force on Prolonged Use of Fund Resources, the Executive Board requested semi annual reports on the incidence of Longer-Term Program Engagement (LTPE). This is the sixth such report which provides information through June 2006.
Technical Assistance Evaluation Program - - Findings of Evaluations and Updated Program
Authors:   International Monetary Fund
Published: September 2019

This paper is the third to be issued under the Fund's Technical Assistance Evaluation Program, which was launched in FY 2003. It reports on the findings of five completed evaluations, and updates the program of evaluations for FY 2007–2009. The completed evaluations featured in this paper are: (i) an evaluation of technical assistance provided by the Legal Department to Indonesia related to the strengthening of the commercial courts and the implementation of the bankruptcy law; and (ii) evaluations of technical assistance delivered by the Monetary and Financial Systems Department to Sierra Leone, the Democratic Republic of the Congo, Bosnia and Herzegovina, and Kosovo to strengthen capacity in the financial sector.
Standards and Codes - Implementing the Fund's Medium-Term Strategy and the Recommendations of the 2005 Review of the Initiative
Authors:   International Monetary Fund
Published: September 2019

This paper informs Executive Directors of the operational changes that are being made to the Fund’s work on Standards and Codes, to implement the Fund’s Medium-Term Strategy (MTS) and the recommendations of the 2005 IMF-World Bank review of the Standards and Codes Initiative. The changes aim at improving (i) the country coverage and prioritization of Reports on the Observance of Standards and Codes (ROSCs) to make more efficient use of resources, (ii) the integration of ROSCs with Fund surveillance and technical assistance, for a better use of ROSC findings and greater support of reform efforts, and (iii) the clarity and timeliness of ROSCs. The paper focuses on the actions that are being taken and does not elaborate on the rationales for the corresponding recommendations, which were discussed by Directors in the context of the MTS and 2005 Review. The actions being taken are summarized in Table 1. Many of the actions do not apply to ROSCs carried out under the aegis of the Financial Sector Assessment Program (FSAP), which are typically subject to a separate set of procedures under the FSAP, or to financial sector ROSCs of Offshore Financial Centers, which are conducted separately. According to the proposals in the MTS, the next review of the Standards and Codes Initiative would take place in 2010.
Article IV of the Fund's Articles of Agreement - An Overview of the Legal Framework
Authors:   International Monetary Fund
Published: September 2019

This paper is designed to assist the Executive Board in its consideration of the steps that could be taken to provide members with more specific guidance as to their obligations under Article IV.
Report on Access to Fund Resources During 2005
Authors:   International Monetary Fund
Published: September 2019

In the context of a relatively benign international environment with limited balance of payments needs, recourse to Fund resources has declined across several dimensions: fewer GRA arrangements; lower outstanding Fund resources; and a smaller average access under new PRGF arrangements.
Anti-Money Laundering and Combating the Financing of Terrorism - Review of the Quality and Consistency of Assessment Reports and the Effectiveness of Coordination
Authors:   International Monetary Fund
Published: September 2019

This paper responds to a request from Executive Directors to review the quality and consistency of anti-money laundering and combating the financing of terrorism (AML/CFT) assessment reports prepared by the Financial Action Task Force on Money Laundering (FATF) and FATF style regional bodies (FSRBs), and the effectiveness of coordination with FATF/FSRBs. The review found a high degree of variability in the quality and consistency of reports prepared by the different assessor bodies as well as within the same assessor group. While a large majority of reports were of high- or medium quality with respect to key components of the assessments, the treatment of ratings gave rise to greater problems. A number of initiatives have been taken or are underway to improve the quality and consistency of assessments by all assessor bodies, including: the standardization of documentation, the strengthening of peer/internal reviews, and the intensification of assessor training.
Establishment of the Investment Account
Authors:   International Monetary Fund
Published: September 2019

This paper summarizes the relevant considerations and presents decisions for the establishment of an Investment Account (IA). Executive Directors considered an analysis of the establishment and operations of an IA in September 2005. During the discussion in March 2006 of the medium-term outlook for the Fund’s income, Directors requested staff to return to the Board with a paper proposing decisions on the establishment of an IA.
Review of the Fund's Income Position for FY2006 and FY2007
Authors:   International Monetary Fund
Published: September 2019

This paper provides the basis of the Executive Board's annual review of the Fund's income position, the burden-sharing mechanism, and the system of special charges, and makes proposals for the rate of charge in FY07.
Heavily Indebted Poor Countries Initiative - List of Ring-Fenced Countries that Meet the Income and Indebtedness Criteria at end-2004
Authors:   International Monetary Fund
Published: September 2019

This paper identifies the countries that meet the enhanced Heavily Indebted Poor Countries (HIPC) Initiative’s income and indebtedness eligibility criteria based on end-2004 data. It also updates the status of these countries toward qualifying for debt relief and presents cost estimates of debt relief.
Review of Ex Post Assessments and Issues Relating to the Policy on Longer-Term Program Engagement
Authors:   International Monetary Fund
Published: September 2019

This review assesses the experience gained to date in carrying out the longer-term program engagement (LTPE) policy and preparing the ex post assessments (EPAs). It discusses the main characteristics of LTPE members and the findings of the EPAs, analyzes the role of the EPAs in the Fund’s due diligence, and provides recommendations for improving their effectiveness.
Democratic Republic of Congo - Evaluation of the Technical Assistance Program (May 2001 to April 2004) and of Areas for Further Assistance to the Central Bank of Congo
Authors:   International Monetary Fund
Published: September 2019

This report discusses the results of the evaluation of the MFD technical assistance program with the BCC. The evaluation covered the period May 2001-April 2004 and focused on foreign exchange and monetary operations, internal audit, accounting, banking supervision. It was conducted during December 14-17, 2006 in conjunction with an MFD advisory mission. The mission examined the implementation of this program by two (2) resident experts (a general advisor to the Governor and a resident advisor responsible for internal audit), three (3) multitopic missions, and ten (10) short-term expert visits.1
Offshore Financial Centers - The Assessment Program - A Progress Report
Authors:   International Monetary Fund
Published: September 2019

This paper updates Executive Directors on the progress since February 2005 in implementing the second phase of the offshore financial center (OFC) program as agreed in November 2003 (see PIN No. 03/138 at http://www.imf.org). At that time, Directors recognized that OFCs could pose prudential and financial integrity risks to the international financial system. In this context, Directors agreed that the monitoring of OFCs' activities and their compliance with supervisory and integrity standards should become a standard component of the financial sector work of the Fund. They also requested periodic updates on the progress with implementation of the program. Earlier updates were provided in March 2004 (Offshore Financial Centers—The Assessment Program—An Update) and February 2005 (Offshore Financial Centers—The Assessment Program—A Progress Report). With the completion of the first round of assessments, staff have begun implementing the second phase of the program.
Key Trends in Implementation of the Fund's Transparency Policy
Authors:   International Monetary Fund
Published: September 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 (see IMF Executive Board Reviews Fund’s Transparency Policy, August 15, 2005 and The Fund’s Transparency Policy—Proposed Amendments, July 28, 2005).

The set of Tables provided in this report focuses on documents published through December 2005.
The Fund's Income Position for FY 2006 - Update to the Midyear Review
Authors:   International Monetary Fund
Published: September 2019

This paper provides updated information on the Fund’s income position. The regular midyear review of the Fund’s income for FY 2006 was completed by the Executive Board on December 9, 2005. That review projected a small shortfall of SDR 18 million from the regular net income target of SDR 188 million. The projection was based on the usual set of assumptions, including that repurchases would be made as scheduled.
Proposals to Modify the PRGF-HIPC Trust Instrument - Further Considerations
Authors:   International Monetary Fund
Published: September 2019

This follow-up paper focuses on the proposed modifications to HIPC Initiative policy as implemented in the Fund, building on the July paper. It also addresses the key policy issues raised by Executive Directors at the July informal briefing and lays out the modalities and decision required to implement the proposed changes. If adopted, these modifications would also apply to future similarly situated pre-decision point HIPCs.
Statement by the Managing Director on the Interim Work Program of the Executive Board
Authors:   International Monetary Fund
Published: September 2019

This interim work program statement reflects the imperative of accelerating the process of reform that has been underway in the Fund for some time.
Periodic Monitoring Report on the Status of Board-Endorsed Independent Evaluation Office Recommendations and Management Implementation Plans
Authors:   International Monetary Fund
Published: September 2019

IEO evaluations are an integral part of the Fund’s learning culture, helping the Fund absorb lessons that improve its work. In addition, the objectivity of IEO evaluations has bolstered the Fund’s credibility. In discussing the report of the External Evaluation of the IEO (the “Lissakers report”), Executive Directors welcomed the suggestions to strengthen follow-up to the IEO recommendations?including more Board involvement—and supported a more systematic approach for following up and monitoring the implementation of IEO recommendations approved by the Board.

This periodic monitoring report (PMR) is the first such effort under the new procedures approved by the Executive Board in January 2007. In particular, it responds to the instruction that “Management shall present to the Board a periodic monitoring report on the state of implementation of actions contained in the forward-looking implementation plans already in force and not deemed completed on the occasion of a prior periodic monitoring report. These reports shall indicate difficulties in implementing the original plan and propose remedial or substitute actions whenever appropriate. The first periodic monitoring report shall be prepared following the delivery of the 2007 IEO Annual Report. As the IEO Annual Reports cover the status of all past IEO recommendations, it is expected that the first periodic monitoring report produced by Management would also review the implementation of recommendations made to date.”
Safeguards Assessments - 2007 Update
Authors:   International Monetary Fund
Published: September 2019

This paper provides Executive Directors with an update of safeguards assessment activities from July 1, 2006 through June 30, 2007. This is the second annual update report of safeguards activities since the last review of the safeguards policy in April 2005. The next review of the policy by the Executive Board is scheduled for 2008.
The Role of the Fund in the Poverty Reduction Strategy Process and Its Collaboration with Donors
Authors:   International Monetary Fund
Published: September 2019

This paper proposes an approach to making the MTS operational as it relates to the Fund’s work in LICs that would define more precisely the Fund’s responsibility and accountability in the PRSP and donor collaboration processes. The proposed activities are not “new,” but represent an intensification of existing work and its extension to the all LICs as appropriate. This would help clarify expectations as to the Fund’s role, and establish a consistent institutional approach to collaborating with donors and other stakeholders on the ground.
Update on the Financing of the Fund's Concessional Assistance and Debt Relief to Low-Income Member Countries
Authors:   International Monetary Fund
Published: September 2019

This paper provides a semi-annual review of the status of financing for PRGF-ESF lending, HIPC and MDRI debt relief, and subsidization of emergency assistance to PRGF-eligible members. The last review was completed by the Executive Board on April 13, 2007.
Staff Report on the Multilateral Consultation on Global Imbalances with China, the Euro Area, Japan, Saudi Arabia, and the United States
Authors:   International Monetary Fund
Published: September 2019

Multilateral Consultations are a new tool of multilateral surveillance for the IMF, designed to foster action-oriented debate and policy actions on a problem of systemic or regional importance. The first multilateral consultation focused on facilitating the resolution of global imbalances while sustaining robust global growth. China, the euro area, Japan, Saudi Arabia, and the United States agreed to participate.
Review of the 1977 Decision on Surveillance over Exchange Rate Policies - Proposal for a New Decision
Authors:   International Monetary Fund
Published: September 2019

This paper presents a draft Decision that reflects the guidance provided by the Board. In February, the Board endorsed three overarching principles to guide a new Decision: (i) no new obligations for members, together with confirmation that dialogue and persuasion are key pillars of surveillance; (ii) due regard for country circumstances and emphasis on the need for evenhandedness; and (iii) continued flexibility.
Aid Inflows - The Role of the Fund and Operational Issues for Program Design - Background Paper
Authors:   International Monetary Fund
Published: September 2019

This paper contains background material to the Board paper on "Aid Inflows— The Role of the Fund and Operational Issues for Program Design." The main paper draws operational implications for program design of increased and volatile aid inflows, based on selected case studies (Annex I) and a review of program conditionality (Annex II). It also uses findings on recent developments in official donor assistance (ODA) and meeting the Millennium Development Goals (MDGs) (Annex III).
Fiscal Policy Response to Scaled-Up Aid
Authors:   International Monetary Fund
Published: September 2019

Sound fiscal policies are critical for handling aid volatility as well as for making effective use of scaled-up aid and other flows. By easing resource constraints, these flows allow low-income countries (LICs) to increase spending aimed at enhancing growth and reducing poverty. Effective management of these policies, however, presents a host of macroeconomic challenges, many of them fiscal.
The IMF's Communication Strategy
Authors:   International Monetary Fund
Published: September 2019

The strategy proposed in this paper seeks to build understanding and support for the IMF’s reform agenda as outlined in the IMF's Medium-Term Strategy, further integrate communications with operations, raise the impact of communication tools, and rebalance outreach efforts.
Revised Guide on Resource Revenue Transparency
Authors:   International Monetary Fund
Published: September 2019

The Guide, 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 Guide applies the good practices of the Code to the unique set of transparency issues faced by countries that derive a significant share of revenues from natural resources. It addresses issues arising both from the sheer size and volatility of such resources and the technical complexity of the transaction flows. The Guide supplements the Manual on Fiscal Transparency (2007).
Note to the Executive Boards of the IMF and the World Bank on the Revised Basel Core Principles for Effective Banking Supervision
Authors:   International Monetary Fund
Published: September 2019

The purpose of this note is to inform the Executive Boards of the World Bank and the IMF of the main changes in the Basel Core Principles and assessment Methodology.
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

Over the past six months, work has concentrated on making surveillance more effective, reforming quotas and voice, and reviewing the finances of the institution to place them on a sustainable footing. Progress has also been made with other key elements of the medium-term strategy, including capacity building, crisis prevention, and support for emerging markets and low-income countries. In January, the Fund welcomed its 185th member, the Republic of Montenegro
Strengthening Debt Management Practices - Lessons from Country Experiences and Issues Going Forward
Authors:   International Monetary Fund
Published: September 2019

This paper reviews Bank-Fund staff experience with strengthening public debt management (PDM) frameworks and capacity in developing countries. In 2001, the IMF and the World Bank developed sound practice guidelines in this area, followed by a pilot program to assist 12 countries develop and implement reforms. In addition, an assessment of PDM has been incorporated into surveillance work, where relevant, and included in other Bank and Fund advisory and technical assistance work. Based on these, the paper draws key lessons, identifies the continuing challenges facing debt managers, and proposes further capacity building and advisory work in PDM. The 12 countries in the pilot program were Bulgaria, Colombia, Costa Rica, Croatia, Indonesia, Kenya, Lebanon, Nicaragua, Pakistan, Sri Lanka, Tunisia, and Zambia.
Further Consideration of a New Liquidity Instrument for Market Access Countries - Design Issues
Authors:   International Monetary Fund
Published: September 2019

This paper focuses on a specific set of issues -- qualification criteria, monitoring structure, access levels and terms, links to other Fund facilities, and links to the private sector. This paper is a complement and follow-up to an earlier paper, which itself considered the broader issues involved in creating a new instrument. The paper does not put forward a concrete proposal to Directors, but seeks to achieve a further convergence of views on these key issues.
Framework Administered Account for Selected Fund Activities-Middle East Regional Technical Assistance Center (METAC) 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 METAC subaccount under the terms of the SFA Instrument.

Management has engaged in discussions with member countries in the Middle East region as well as donors on regional needs in capacity building, training and related activities. Because METAC has a proven track record to provide focused, flexible, and responsive technical assistance (TA) in a cost-effective manner, both beneficiary countries of METAC and interested donors are supportive to continue the Fund’s involvement in this regard. The center’s activities will continue to focus on the following key areas representing common policy challenges to member countries, including those related to increased regional integration: (i) revenue administration; (ii) public financial management; (iii) banking supervision; and (iv) economic and financial statistics.
Borrowing Agreement with Banco de Portugal
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, and with a view to supporting the Fund's ability to provide timely and effective balance of payments assistance to its members, Banco de Portugal agrees to lend to the Fund an SDR-denominated amount up to the equivalent of EUR 1.06 billion, on the terms and conditions set out in this paper.
Maldives-Assessment Letter for the Asian Development Bank and the World Bank
Authors:   International Monetary Fund
Published: September 2019

The global crisis has hit the Maldivian economy hard; combined with an unsustainable fiscal expansion, it has led to a large fiscal deficit and severe balance of payments pressures. The authorities are committed to a strong policy adjustment program, and have requested IMF financial support for their program.
Framework Administered Account for Selected Fund Activities-Switzerland Subaccount for Selected Fund Activities
Authors:   International Monetary Fund
Published: September 2019

The Fund, represented by the Managing Director, has reached understandings with Switzerland acting through the State Secretariat for Economic Affairs (SECO) (“Switzerland”), to finance capacity building (technical assistance and training) and related activities. On the basis of these understandings, the Managing Director has established the essential terms and conditions of the Subaccount, with which Switzerland concurs, with respect to the nature, design, and implementation of the activities to be financed and the method by which the costs of the activities will be financed from the Subaccount.
Implementation Plan in Response to Board-Endorsed Recommendations Arising from the IEO Evaluation of IMF Involvement in International Trade Policy Issues
Authors:   International Monetary Fund
Published: September 2019

This paper fulfils the requirement of a forward-looking implementation plan for Board-endorsed recommendations of the IEO Evaluation of IMF Involvement in International Trade Policy Issues (“the Evaluation”).

The Evaluation and the Executive Board’s conclusions provide impetus to re-prioritizing the Fund’s trade policy work. Table 1 sets out the Evaluation’s specific recommendations, Directors’ responses to them, and the proposals for implementation within this framework.

Directors called for recommendations to be implemented within the existing resource envelope—including by achieving closer and more effective cooperation with the WTO—and this implementation plan therefore does not provide detailed costing of individual items.
Framework Administered Account for Selected Fund Activities-The Socialist People's Libyan Arab Jamahiriya Subaccount for Selected Fund Activities
Authors:   International Monetary Fund
Published: September 2019

The Fund, represented by the Managing Director, has reached understandings with Libya acting through the Central Bank of Libya (“Libya”), to finance capacity building (technical assistance and training) and related activities. On the basis of these understandings, the Managing Director has established the essential terms and conditions of the Subaccount, with which The Socialist People’s Libyan Arab Jamahiriya concurs, with respect to the nature, design, and implementation of the activities to be financed and the method by which the costs of the activities will be financed from the Subaccount.
Framework Administered Account for Selected Fund Activities—European Investment Bank Subaccount for Selected Fund Activities
Authors:   International Monetary Fund
Published: September 2019

The Fund, represented by the Managing Director, has reached understandings with the EIB to finance capacity building (technical assistance and training) and related activities. On the basis of these understandings, the Managing Director has established the essential terms and conditions of the Subaccount, with which EIB concurs, with respect to the nature, design, and implementation of the activities to be financed and the method by which the costs of the activities will be financed from the Subaccount.
Executive Board Report to the IMFC on Reform of Fund Governance
Authors:   International Monetary Fund
Published: September 2019

This paper responds to the request in the April 2009 IMFC communiqué for the Executive Board to report on governance reform. The current crisis has shown that the Fund’s decision-making structures can deliver the kind of innovative and rapid responses the membership needs and expects. Even so, there is an undercurrent of doubt about the future, reflecting the perception that much of the recent responsiveness has been driven by outside forces (e.g., the G-20) and that, once the crisis fades, old dissatisfactions with vote, voice and process will resurface to undermine the political backing that has been key to the Fund’s renewal. Hence, the IMFC’s interest in reforms to underpin the institution’s legitimacy and effectiveness is important and timely. This report focuses on five areas: fair quota share; high-level engagement; effective decision-making and representation at the Executive Board; open selection of management (and, more broadly, staff diversity); and updating of the Fund’s mandate.
Framework Administered Account for Selected Fund Activities—West Africa Regional Technical Assistance Center (AFRITAC West) 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. The subaccount for the West Africa Regional Technical Assistance Center (AFRITAC West) would be the fourth one under the SFA.

This paper requests Executive Board approval to establish the AFRITAC West subaccount under the terms of the SFA Instrument.
Bilateral Surveillance Guidance Note
Authors:   International Monetary Fund
Published: September 2019

This note provides guidance to staff on the conduct of bilateral surveillance, a core activity of the Fund. Surveillance involves the continuous monitoring of members’ economic and financial policies, and regular Article IV consultations. During these consultations, staff holds pointed discussions with country authorities on the economic situation, the authorities’ policies, and desirable policy adjustments. These discussions are then reported to the Fund’s Executive Board for its consideration. The goal is, through thorough analysis, candid discussions, and a peer-review mechanism, to promote the domestic and external stability of members’ economies and thereby the stability of the international monetary system as a whole.
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 Sweden Subaccount for Selected Fund Activities (the “Subaccount”) under the terms of the SFA instrument.
Framework Administered Account for Selected Fund Activities -Tax Policy and Administration Topical Trust Fund 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 Tax Policy and Administration (TPA) Topical Trust Fund (TTF) subaccount (the “Subaccount”) under the terms of the SFA Instrument.
Technical Note on Synchronized Approval of Flexible Credit Lines for Multiple Countries
Authors:   International Monetary Fund
Published: September 2019

As foreshadowed in the Executive Board Report to the IMFC on the Fund’s Mandate, this technical note sketches the procedures under which synchronized approval of Flexible Credit Line (FCL) arrangements for multiple member countries could be undertaken under the existing FCL Decision and other Fund policies.1 When multiple members face the same shock, synchronized approval of FCL arrangements could strengthen the effectiveness of the response to the common shock and minimize first-mover problems. This technical note neither modifies existing Fund policies, nor establishes a new financing instrument.
Review of the Method of Valuation of the SDR
Authors:   International Monetary Fund
Published: September 2019

This paper provides the basis for the quinquennial review of the method of valuation of the SDR, and the financial instruments used to determine the SDR interest rate. Under the governing Board decisions, the new SDR valuation and interest rate baskets would come into effect on January 1, 2011. The review examines developments during the 2005–09 period in the variables relevant to the SDR valuation.

These variables include exchange rates, exports of goods, services and income, and reserve holdings. Data for exports of goods and services show China has become the third largest exporter among Fund members and monetary unions including Fund members. Nonetheless, indicators such as reserves and international banking and debt securities suggest that the currencies in the current SDR basket continue to predominate in international financial transactions, and these currencies also account for the bulk of global foreign exchange turnover. At this time, the Chinese renminbi would not appear to meet the criteria for being determined by the Fund to be a freely usable currency, which is also required for inclusion in the SDR basket.
Executive Board Report to the IMFC on Quota and Governance Reforms
Authors:   International Monetary Fund
Published: September 2019

Since the IMFC last met in April, the Executive Board has taken up the full range of quota and other governance reforms. While there has been some movement on the many complex issues, discussions have been inconclusive, and no proposal has been able to command broad support. The concluding remarks that sum up these meetings lay out the various positions taken by members of the Board (attached). The debate is continuing, and we hope to make progress on finding the possible elements of a compromise acceptable to the membership.
Progress Report on the Activities of the Independent Evaluation Office
Authors:   International Monetary Fund
Published: September 2019

Since its last report, the Independent Evaluation Office (IEO) has advanced work on the two current evaluations and selected topics for three new evaluations.

The evaluations of Research at the IMF: Relevance and Utilization and IMF Performance in the Run-up to the Current Financial and Economic Crisis are in the concluding stages. IEO expects to send these evaluations to the Executive Board before year-end.
Proposed Decision on Article IV Consultation Cycles
Authors:   International Monetary Fund
Published: September 2019

The proposed Decision seeks to implement the staff’s proposals related to Article IV consultation cycles in Review of the Fund’s Mandate—Follow-Up on Modernizing Surveillance, which were endorsed in principle by the Executive Board on September 1, 2010. The goal is to provide for greater flexibility in consultation cycles and simplify the rules governing consultation cycles for members under a Fund arrangement or Policy Support Instrument (PSI).
Reference Note on Trade in Financial Services
Authors:   International Monetary Fund
Published: September 2019

This note addresses key issues with respect to trade policy in financial services and its linkages to capital flows, and prudential regulations and supervision under the General Agreement on Trade in Services (GATS), preferential trade agreements (PTAs), and bilateral investment treaties (BITs). The note should help inform the advice that country teams provide on such issues in the context of surveillance, program negotiations, and technical assistance. It is a response to the Executive Board’s call for guidance in this area stemming from the 2009 IEO Evaluation of IMF Involvement in International Trade Policy Issues.
Bhutan - Assessment Letter for the World Bank
Authors:   International Monetary Fund
Published: September 2019

Bhutan’s growth was resilient to the financial crisis and the outlook remains positive. Containing fiscal expansion and enhancing liquidity management are necessary to avoid economic overheating. Strengthening bank supervision is also a top priority.
The Fund’s Mandate - The Future Financing Role - Revised Reform Proposals and Revised Proposed Decisions
Authors:   International Monetary Fund
Published: September 2019

This supplement provides clarifications and proposes revision to the reforms of the nonconcessional lending toolkit contained in the staff papers on “The Fund’s Mandate—Future Financing Role: Reform Proposals”. The focus of this supplement is on the Flexible Credit Line (FCL) and the Precautionary Credit Line (PCL), for which revised proposed decisions are attached.