{"title":"Review of Institutional Safeguards","authors":"","doi":"10.5089/9798400215537.007","DOIUrl":"https://doi.org/10.5089/9798400215537.007","url":null,"abstract":"","PeriodicalId":91273,"journal":{"name":"India Policy Forum : [papers]. India Policy Forum. Conference","volume":"50 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87766571","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Statement by the Managing Director on the Independent Evaluation Office Report on IMF Engagement with Small Developing States: Executive Board Meeting May 6, 2022","authors":"","doi":"10.5089/9798400210846.007","DOIUrl":"https://doi.org/10.5089/9798400210846.007","url":null,"abstract":"I welcome the report of the Independent Evaluation Office (IEO) on IMF Engagement with Small Developing States (SDS), which finds a substantive and well-tailored Fund engagement with SDS across modalities over the last decade. I broadly agree that, going forward, the Fund’s continuous high-quality engagement—cognizant of the unique characteristics and challenges faced by SDS—should help enhance traction with this group of members. With the Fund’s agenda already well-oriented toward supporting SDS, including through new workstreams, I concur that a targeted recalibration of the Fund’s work on SDS would be the most effective at this juncture. However, the four recommendations and their detailed suggestions must be weighed against their budgetary implications, which are inconsistent with the just-approved Medium-Term Strategy and budget. The report and its recommendations should also be careful to not impinge upon areas that are still unfolding, such as the RST, crisis response, and CD provision, to avoid unnecessary duplication of efforts and ensure that a coherent and evenhanded framework is in place. I offer qualified and/or partial support to the recommendations, as discussed below, to serve better our SDS members.","PeriodicalId":91273,"journal":{"name":"India Policy Forum : [papers]. India Policy Forum. Conference","volume":"40 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88211698","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Reviews of the Fund's Sovereign ARREARS Policies and Perimeter","authors":"","doi":"10.5089/9798400210556.007","DOIUrl":"https://doi.org/10.5089/9798400210556.007","url":null,"abstract":"","PeriodicalId":91273,"journal":{"name":"India Policy Forum : [papers]. India Policy Forum. Conference","volume":"64 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88040617","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Acting Chair’s Summing Up Independent Evaluation Office—IMF Engagement with Small Developing States: Executive Board Meeting May 6, 2022","authors":"","doi":"10.5089/9798400210709.007","DOIUrl":"https://doi.org/10.5089/9798400210709.007","url":null,"abstract":"Executive Directors welcomed the report of the Independent Evaluation Office (IEO) on IMF Engagement with Small Developing States (SDS) and appreciated its insights and recommendations. They welcomed the report’s finding that the Fund has substantially stepped up its engagement with its SDS members over the past decade, and that SDS country officials generally considered Fund surveillance and capacity development (CD) activities of high quality and well-tailored to their needs. At the same time, Directors noted the evaluation’s findings of several challenges facing Fund engagement with SDS, including the suitability of the Fund’s lending architecture to SDS needs and capacities, limited institutional capacity in SDS, difficulties in staffing SDS assignments, and political economy considerations. Against this background, Directors broadly agreed that based on the evaluation’s findings, additional actions should be considered to strengthen the value added and impact of IMF engagement with SDS, although a major overhaul was not needed. Many Directors broadly supported the IEO recommendations and looked forward to the Management Implementation Plan (MIP) to implement them. Many other Directors broadly agreed with the partial and qualified support provided by the Managing Director’s statement as a broadly balanced approach to addressing the identified challenges, ensuring appropriate tailoring while considering evenhandedness and resource constraints.","PeriodicalId":91273,"journal":{"name":"India Policy Forum : [papers]. India Policy Forum. Conference","volume":"10 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90575728","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Review of The Fund's Income Position for FY 2022 and FY 2023–2024","authors":"","doi":"10.5089/9798400212000.007","DOIUrl":"https://doi.org/10.5089/9798400212000.007","url":null,"abstract":"","PeriodicalId":91273,"journal":{"name":"India Policy Forum : [papers]. India Policy Forum. Conference","volume":"18 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81794643","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Review of The Method of Valuation of The SDR—Proposed Extension of The Valuation Of The SDR Basket and Modification of The Date Of Effect of A New Basket","authors":"Michael G. Kuhn","doi":"10.5089/9781498344012.007","DOIUrl":"https://doi.org/10.5089/9781498344012.007","url":null,"abstract":"On March 5, 2021, the IMF’s Executive Board approved an extension of the current Special Drawing Right (SDR) valuation basket by ten months from September 30, 2021 to July 31, 2022. The IMF normally reviews the composition and valuation of the SDR basket every five years. The extension effectively resets the five-yearly cycle of SDR valuation reviews, with the next review to be completed by mid-2022 and the new basket becoming effective on August 1, 2022. The ten-month extension contributes to the Fund’s ongoing efforts to prioritize work during the COVID-19 crisis and allows for a more suitable effectiveness date of the new basket, which does not coincide with some major markets being closed. The approved extension, as well as effectiveness date of a new basket, is intended to facilitate the continued smooth functioning of SDR-related operations.","PeriodicalId":91273,"journal":{"name":"India Policy Forum : [papers]. India Policy Forum. Conference","volume":"432 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85097804","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Implementation Plan in Response to The Board - Endorsed Recommendations from The IEO Evaluation Report on Growth and Adjustment in IMF - Supported Programs","authors":"Executive Summary","doi":"10.5089/9798400210242.007","DOIUrl":"https://doi.org/10.5089/9798400210242.007","url":null,"abstract":"This management implementation plan (MIP) proposes actions in response to the Independent Evaluation Office (IEO)’s report on growth and adjustment in IMF supported programs. Overall, the IEO report pointed to the lack of evidence on a consistent bias toward excessive austerity and the findings that programs have yielded growth benefits relative to a counterfactual of no Fund engagement. The broad consistency and complementarity of the overall assessment with the IMF’s 2018 Review of Program Design and Conditionality were also acknowledged. Building on the 2018 Review of Program Design and Conditionality and the 2018 Review of the Fund’s Capacity Development Strategy, the proposed MIP actions aim at:","PeriodicalId":91273,"journal":{"name":"India Policy Forum : [papers]. India Policy Forum. Conference","volume":"28 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83372612","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Making Debt Work For Development and Macroeconomic Stability","authors":"","doi":"10.5089/9798400208591.007","DOIUrl":"https://doi.org/10.5089/9798400208591.007","url":null,"abstract":"be used to identify priorities, and be compared with peers to inform the local debt market development plan. The work on developing local currency debt markets feeds into the WBG-IMF core areas of work. This includes fiscal and monetary policy, financial stability, capital market development, management of foreign flows, business cycles, and economic growth. In many cases, a wide spectrum of reforms is needed to help develop local currency bond markets, and often careful consideration is needed to determine optimal sequencing and timing of the reforms. The WBG and IMF will continue to play a catalytic role in helping coordinate reforms through regular monitoring of economic and financial conditions, as well as through ongoing dialogue with authorities.","PeriodicalId":91273,"journal":{"name":"India Policy Forum : [papers]. India Policy Forum. Conference","volume":"8 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81097237","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}