International Monetary Fund (IMF)
IMF and World Bank collaborate closely
LETTER - Letter published in the Financial Times on Wednesday from a former Deputy Managing Director of the IMF. P.R. Narvekar describes Joseph Stiglitz criticism of the IMF as "baseless and vicious".
Speech by H Kohler, Managing Director, IMF, 4 July
SPEECH - In evidence before the UK Parliament's Treasury Select Committtee titled 'The IMF in the Process of Change' Kohler said "we have seen a near revolution in the transparency of the IMF, and in the release of economic and financial data by our…
IMF mission to Argentina seeks account access bar
ARGENTINA - The IMF will hold up disbursement of 9.5 bln usd in aid unless the government denies bank depositors any access to their accounts, government officials said after a federal judge found the ban unconstitutional.
Speech by H Kohler, Managing Director, IMF, 1 July
SPEECH - Kohler said in a speech titled 'The Role of the IMF in the Global Economy' that the Enron and WorldCom scandals showed the international community had to worry as much about economic risks in wealthy nations as in poor countries.
Speech by Horst Kohler, MD of IMF, 21 June
SPEECH - Horst Kohler discusses 'The Role of the IMF in Safeguarding the Stability of the International Financial System' and sets out what he understands as the IMF's primary functions and goals, and how it should go about achieving them.
Argentina to make payment on IMF debt Thursday
ARGENTINA - Argentina will today make a scheduled 52 mln US$ payment on its IMF debt, said central bank chairman Aldo Pignanelli.
Speech by Eduardo Aninat, Dep MD, IMF, 20 Jun
SPEECH - In a speech titled 'The Economic Foundations of Peace in Colombia' Aninat said it was his sincere hope that the new administration will be able to find ways to mobilize the multiple talents and goodwill of the Colombian people, and put the…
IMF - Polish central bank has room for more easing
US - The Polish central bank has room to ease monetary policy further, after its half percentage point rate cut on Wednesday, the IMF said, with some IMF directors urging a more ambitious rate cut strategy.
IMF Working Paper No. 02/101
RESEARCH - 'Structural Balances and All That: Which Indicators to Use in Assessing Fiscal Policy' by Nigel Chalk, Fiscal Affairs Department, examines structural indicators of a country's fiscal position and evalutes their usefulness in measuring the size…
IMF increases stand-by credit to Uruguay by $1.5bn
URUGUAY - The IMF today increased its current Stand-By Credit to Uruguay by about $1.5bn to about $2.28bn. Uruguay may draw up to $508m immediately. A further $650 million will become available under the augmented Stand-By Arrangement during the…
IMF Survey, Vol. 31, No. 12
SURVEY - The latest edition of the IMF Survey includes comment on the IMF's Global Financial Stability Report, excerpts of a speech by Anne Krueger on sovereign debt restructuring and an interview with Kenneth Rogoff and Jeromin Zettelmeyer on the roots…
Extreme Contagion in Equity Markets
RESEARCH - IMF Working Paper by Jorge Chan-Lau, Donald Mathieson and James Yao of the International Capital Markets Department, 18 June. Their results suggest that contagion patterns differ significantly within regions with Latin America showing an…
The role of fiscal policy in crisis situations
ARTICLE - Flemming Larsen, Director of the IMF Office in Europe, has responded to Joseph Stiglitz's in Les Echos on June 3, 'L'actualite de Keynes'. Larsen counters criticisms that the IMF imposes hardship on crisis-stricken countries, as they only point…
Argentina pledges not to use reserves to repay IMF
ARGENTINA - Economy minister Roberto Lavagna has assured the IMF technical mission currently visiting the country that central bank reserves will not be used to pay back loans from the IMF and the Inter-American Development Bank which are due to mature…
Bank Indonesia and govt to resolve loan dispute
INDONESIA - Bank Indonesia is close to putting an end to a dispute with the government which has continued for two years. A final agreement has yet to be reached to this problem which is rooted in the billions of dollars in liquidity support channeled to…
Brazil lands $10bn loan from IMF
BRAZIL - After nearly a week of falling currency, stock and bond markets, Brazilian central bank president Armenio Fraga and finance minister Pedro Malan announced that the country would tap into $10 billion of IMF loans. The World Bank also joined in…
IMF Quarterly Global Financial Stability Report
REPORT - The IMF has published its Global Financial Stability Report on market developments and issues for June 2002. It provides quarterly assessments of global financial markets and addresses emerging market financing in a global context. A transcript…
IMF mission arrives in Argentina
ARGENTINA - An International Monetary Fund mission landed in Argentina on Thursday to discuss the possibility of resuming billions of dollars in credit after a six-month freeze, which could open the door to other aid sources and help stop contagion to…
Gold in the IMF: A Factsheet
FACTSHEET - The IMF has published a factsheet detailing what its gold holdings are, how it acquired them, what its policy is on gold, and how and when it has used its gold in the past.
IMF Survey, Vol. 31, No. 11, 10 June
SURVEY - The latest fortnightly issue of the IMF Survey includes articles on world military spending, Independent East Timor, the pros and cons of tax incentives, financial development and economic growth, as well as interviews with John Shoven on US…
Speech by Thomas Dawson of the IMF, 13 Jun
SPEECH - The speech 'Stiglitz, the IMF and Globalization' continues the recent argument between the IMF and Joseph Stiglitz who Dawson describes as the IMF's Chief Critic. Dawson says in the speech "my defense for getting into the fight is the classic…
Speech by Anne Krueger, Dep MD of the IMF, 6 June
SPEECH - Anne Krueger, First Deputy Managing Director at the IMF, gave a speech on 'Sovereign Debt Restructuring and Dispute Resolution' at the Bretton Woods Committee Annual Meeting in Washington DC on June 6. She talks of the progress made on the two…
IMF working paper on the Estonian currency board
RESEARCH - This IMF working paper reviews the introduction of the Estonian kroon under a currency board arrangement. It examines the economic impact of its introduction and its role in the early success of Estonia's transition to a market economy.
IMF response to Lerrick-Meltzer proposals
REPORT - The IMF responds to the Lerrick-Meltzer proposal to involve the private sector in the resolution of financial crises. It ultimately concludes that their proposals 'would not be a valuable addition to the existing instruments of the Fund'.