Nije dostupno na hrvatskom jeziku.
- 16 November 2022
- OCCASIONAL PAPER SERIES - No. 309Details
- Climate change poses three specific but interrelated policy challenges: climate change mitigation, climate change adaptation (which includes building up resilience) and managing transition risks. The International Monetary Fund (IMF) is a multilateral institution with global reach and near-universal membership. Therefore, along with other international organisations, it has an important role to play in addressing the policy challenges posed by climate change. This paper discusses the contribution the IMF makes and can make in its three areas of competence: surveillance, lending and technical assistance. The paper concludes that the IMF has significantly increased its engagement in climate change matters in recent years but should further intensify its efforts in ways that are fully consistent with its mandate.
- JEL Code
- F3 : International Economics→International Finance
F33 : International Economics→International Finance→International Monetary Arrangements and Institutions
F34 : International Economics→International Finance→International Lending and Debt Problems
O19 : Economic Development, Technological Change, and Growth→Economic Development→International Linkages to Development, Role of International Organizations
Q5 : Agricultural and Natural Resource Economics, Environmental and Ecological Economics→Environmental Economics
Q48 : Agricultural and Natural Resource Economics, Environmental and Ecological Economics→Energy→Government Policy
Q54 : Agricultural and Natural Resource Economics, Environmental and Ecological Economics→Environmental Economics→Climate, Natural Disasters, Global Warming
- 14 September 2021
- OCCASIONAL PAPER SERIES - No. 262Details
- The global recession caused by the COVID-19 pandemic and the resulting deterioration in many countries’ public finances have increased the risk of sovereign debt crises. Although crisis prevention remains paramount, these developments have made it imperative to re-examine the adequacy of the current toolkit for crisis management and resolution, in a context where changes in the creditor base and in the composition of public debt instruments have brought about new challenges in terms of reduced transparency and additional barriers to achieving inter-creditor equity. This report focuses on the international architecture for sovereign debt restructurings (SODRs), as seen through the lenses of the International Monetary Fund (IMF or “the Fund”) and with a special attention to the role that the Fund can play in facilitating orderly restructuring processes. It provides a set of findings and recommendations in relation to certain key elements of the Fund’s lending framework that have important ramifications on SODR processes, namely debt sustainability assessments (DSAs), the exceptional access policy (EAP) for financing above normal access limits, and the criteria for lending to countries with payments arrears to private creditors (LIA) or official bilateral creditors (LIOA). It also considers other indirect channels through which the Fund can affect SODRs, including its support for enhancing the transparency and public disclosure of sovereign debt information, its collaboration with the Paris Club and the G20 debt-related initiatives, the promotion of contractual standards for sovereign debt, and the monitoring of relevant legislative developments.
- JEL Code
- F34 : International Economics→International Finance→International Lending and Debt Problems
F55 : International Economics→International Relations, National Security, and International Political Economy→International Institutional Arrangements
H63 : Public Economics→National Budget, Deficit, and Debt→Debt, Debt Management, Sovereign Debt