Sebanyak 6 item atau buku ditemukan

Monetary Operations and Government Debt Management Under Islamic Banking

This paper outlines the recent progress in developing Islamic financial instruments for the management of monetary policy and public borrowing requirements and provides details on new instruments currently being developed in the Islamic Republic of Iran and Sudan. The paper also touches on the institutional arrangements for interbank market operations and the design of effective central bank credit facilities that are needed under Islamic banking to support the development and operation of these new instruments.

This paper outlines the recent progress in developing Islamic financial instruments for the management of monetary policy and public borrowing requirements and provides details on new instruments currently being developed in the Islamic ...

Islamic Republic of Mauritania

Poverty Reduction Strategy Paper

Mauritania’s poverty reduction strategy paper is based on a broadly participatory process and serves as the policy framework for the country’s economic and social policies. The focus is to accelerate economic growth and stabilize the macroeconomic framework, which benefits the poor, ensure the development of human resources and expansion of basic services, and improve governance and build capacity. In the revision the focus is to strengthen leadership, monitoring, evaluation, and coordination. Mauritania has to take up major challenges to achieve the objectives established at the outset.

2.37 Over the period 2006-2007, efforts undertaken to realize the above-
mentioned objectives yielded the following achievements: (i) preparation of a
management and development plan for small scale and inshore fishing; (ii)
enhanced ...

Islamic Republic of Afghanistan

Afghanistan National Development Strategy: First Annual Report (2008/09)

This paper discusses key findings of the First Annual Report (2008/09) on the Afghanistan National Development Strategy (ANDS). The economic and security situation was particularly challenging during the first year of ANDS implementation (1387 or 2008/09) owing to rapid increases in food and fuel prices and sharply increased violence in some provinces. Both imports and exports have been increasing at high rates. A major concern continues to be slow progress in meeting revenue targets and the ability to effectively control spending.

Afghanistan National Development Strategy: First Annual Report (2008/09)
International Monetary Fund. 5. Surveillance facilitates rapid prevention of
pandemics diagnosis and confirmation of 6. Existing funding gap for MoPH
priorities ...

Islamic Republic of Afghanistan: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for the Islamic Republic of Afghanistan

KEY ISSUES Context. Over the past decade, Afghanistan has made enormous progress in reconstruction, development and lifting per capita income. Security and political uncertainties, and weak institutions have constrained growth and weighed on social outcomes. With significant reform efforts and donor support, Afghanistan has maintained macroeconomic stability, implemented important structural reforms, and built policy buffers, but significant vulnerabilities remain. The IMF has been supporting Afghanistan through technical assistance and a three-year Extended Credit Facility (ECF) arrangement. Reviews under the ECF arrangement have been delayed. Outlook and risks. 2014 is a crucial year in the political and security transitions and the run-up to the “transformation decade” (2015–24). Assuming smooth political and security transitions, continued reform and donor financing, the outlook should be positive. Large security and development expenditure needs and a limited domestic revenue capacity mean that Afghanistan will remain dependent on donor financing for an extended period. Macroeconomic stability, structural reforms, and political and security stability are needed to ensure inclusive growth. Risks, mostly on the downside, are related to adverse domestic or regional security developments, political instability, inadequate implementation of economic policies, and donor fatigue. Policy recommendations. The authorities’ economic strategy (maintaining macroeconomic stability, strengthening the financial sector, improving economic governance, and moving toward fiscal sustainability) remains appropriate and needs strengthened implementation. Sustained implementation of this strategy will safeguard growth and build buffers to help manage shocks. Policies should continue to aim at strengthening revenue collection, managing money growth to control inflation while preserving exchange rate flexibility, strengthening bank supervision, and quickly enacting anti-money laundering (AML), countering financing of terrorism (CFT), banking, central bank, and value-added tax legislation.

Detailed information on opium cultivation and prices is available but information
on other economic linkages of the drug industry (e.g., trade and financial flows)
remains scarce, in light of the post-conflict and development status of Afghanistan
.

Islamic Republic of Mauritania: 2014 Article IV Consultation-Staff Report; Press Release and Statement by the Executive Director for the Islamic Republic of Mauritania

KEY ISSUES Context. Mauritania’s economy has benefited from macroeconomic stability and high growth in the context of contained inflation, responsible macro-policies, high iron ore prices and scaled-up public investment. However, economic growth has not translated into broadly improved living standards and is being hit by a sharp decline in iron ore prices. Outlook and Risks. Although the outlook remains favorable, it hinges heavily on stabilizing iron ore prices and expanding mining capacity. Downside risks to the outlook dominate because iron ore prices may decline further in response to excess supply in the global market. Key Policy Recommendations. With high risk of debt distress and deteriorating terms of trade, Mauritania’s fiscal policy needs to remain focused on consolidation to support fiscal sustainability. Over the medium term, a fiscal framework with a full-fledged fiscal rule will help prevent the boom–bust cycles that ensue from volatility in natural resource revenue, and with strengthened governance in managing mining wealth. The central bank should take advantage of the low-inflation environment to strengthen monetary policy formulation, gradually liberalize the foreign exchange market, and introduce liquidity support and banking resolution frameworks. The implementation of the recent FSAP recommendations should be pursued to enhance the stability of the financial sector stability. Economic diversification and inclusive growth are the foremost medium-term challenges. The authorities should accelerate structural reforms needed to raise Mauritania’s potential growth, create jobs, and improve living standards for all Mauritanians. Article VIII. A comprehensive analysis of the foreign exchange market identified exchange restrictions and multiple currency practices (MCPs) subject to Fund approval under Article VIII. Effective November 20, 2013, the exchange rate regime is classified as “stabilized” arrangement.

7. Millennium. Development. Goals,. 1990–2015. PRSP MDGs 1990 1996 2000
2002 2004 2008 2011 2015 2015 1. Eradicate extreme poverty and hunger
Overall poverty incidence 56.6 50.0 46.3 ... 46.7 42.0 ... 25.0 28.3 Incidence of
poverty ...

Market Information and Signaling in Central Bank Operations, Or, How often Should a Central Bank Intervene?

A central bank must decide on the frequency with which it will conduct open market operations and the variability in short-term money market that it will allow. It is shown how the optimal operating procedure balances the value of attaining an immediate target and broadcasting the central bank’s intentions against the informational advantages to the central bank of allowing the free play of market forces to reveal more of the information available to market participants.

I. INTRODUCTION In almost all industrialized countries, the central bank
implements policy by setting a proximate operational target for short-term money
market interest rates and then using open market operations and other
instruments such ...