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You searched for: Content Type Policy Brief Remove constraint Content Type: Policy Brief Publishing Institution Centre for International Governance Innovation Remove constraint Publishing Institution: Centre for International Governance Innovation Political Geography Europe Remove constraint Political Geography: Europe Publication Year within 5 Years Remove constraint Publication Year: within 5 Years Topic Economics Remove constraint Topic: Economics
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  • Author: Susan Schadler
  • Publication Date: 03-2014
  • Content Type: Policy Brief
  • Institution: Centre for International Governance Innovation
  • Abstract: Throughout the history of IMF lending, the institution has had PCS — that is, distressed countries borrowing from the IMF are expected to give priority to meeting their obligations to the IMF over those to other (private or official) creditors. This status is a defining characteristic of the IMF's role in financial crises: it provides a high degree of confidence that IMF resources are safe even when other creditors of the distressed country face substantial uncertainty about whether they will be repaid in full. In other words, the IMF, which lends to some of the riskiest countries in the world, faces minimal risk that its resources could be compromised by a debtor country's difficulties in servicing its debt. It does so, however, with the confidence that comes from its role in helping to formulate and monitor a program of policies that are strongly expected to return the country to stability.
  • Topic: Debt, Economics, International Monetary Fund, Monetary Policy, Financial Crisis
  • Political Geography: Europe
  • Author: Susan Schadler
  • Publication Date: 10-2014
  • Content Type: Policy Brief
  • Institution: Centre for International Governance Innovation
  • Abstract: In April 2014, in a departure from its normal aversion to lending to countries in conflict, the International Monetary Fund (IMF) approved a US$17 billion loan to Ukraine to be disbursed over two years. At the time, Ukraine was three weeks away from a presidential election; engaged in combat with an armed separatist movement backed by Russia, its largest trading partner and supplier of energy; and experiencing a significant drain in foreign exchange reserves and bank deposits along with soaring yields on sovereign debt. The country was also reaping the returns of decades of economic mismanagement. Dire from both political and economic perspectives, the situation had the markings of a case where the IMF has the expertise to be usefully engaged, but there were also red flags demarcating circumstances that can hobble the IMF's effectiveness.
  • Topic: Economics, International Monetary Fund, Foreign Aid
  • Political Geography: Europe, Ukraine
  • Author: Domenico Lombardi, Barry Carin, David Kempthorne
  • Publication Date: 11-2014
  • Content Type: Policy Brief
  • Institution: Centre for International Governance Innovation
  • Abstract: The annual CIGI Survey of Progress in International Economic Governance assesses progress in four dimensions of international economic governance: macroeconomic and financial cooperation; cooperation on financial regulation; cooperation on trade; and cooperation on climate change. Governance related to these dimensions is scored on the following progress scale: 0%-19% represents "major regression"; 20%-39% represents "some regression"; 40%-59% indicates "minimal progress"; 60%-79% characterizes progress; and 80%-100% represents "major progress." Recognizing the difficulty of making objective judgments given the complexity of the issues, the results are offered as a range of subjective opinions from CIGI experts with diverse backgrounds.
  • Topic: Climate Change, Economics, International Cooperation, International Trade and Finance, Governance
  • Political Geography: United States, Europe