IDEAS home Printed from https://ideas.repec.org/a/cbi/qtbart/y2017m01p92-102.html
   My bibliography  Save this article

The Policy Framework of the International Monetary Fund (IMF): An Overview of Recent Developments

Author

Listed:
  • Keeney, Mary J.

    (Central Bank of Ireland)

Abstract

This Article outlines some key IMF policy developments, discusses their global financial implications and highlights some direct implications for Ireland as a member of the IMF. The passing of the 14th General Review implied significant reforms to the IMF's lending capacity, country representation and governance as well as to the conditions under which Members can access resources. Other recent changes include a fundamental modification of the exceptional access framework and lending into arrears policies as well as the recognition by the IMF of the global currency status of the Renminbi. The Article concludes with a brief discussion of future challenges for the IMF.

Suggested Citation

  • Keeney, Mary J., 2017. "The Policy Framework of the International Monetary Fund (IMF): An Overview of Recent Developments," Quarterly Bulletin Articles, Central Bank of Ireland, pages 92-102, January.
    • Handle: RePEc:cbi:qtbart:y:2017:m:01:p:92-102
    as

    Download full text from publisher

    File URL: https://centralbank.ie/docs/default-source/publications/quarterly-bulletins/qb1-17/quarterly-bulletin-no-1-2017.pdf#page=89
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Bénétrix, Agustin S. & Lane, Philip R. & Shambaugh, Jay C., 2015. "International currency exposures, valuation effects and the global financial crisis," Journal of International Economics, Elsevier, vol. 96(S1), pages 98-109.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Alm, Bastian & Weins, Sebastian, 2018. "Current account imbalances: Possibilities for Trade Policy Action under the Auspices of the WTO – a German Perspective," EconStor Preprints 173387, ZBW - Leibniz Information Centre for Economics.
    2. Göver, Zeki Tuğrul, 2018. "The Effects of the IMF’s Quota and Governance Reforms on Turkey," Bulletin of Economic Theory and Analysis, BETA Journals, vol. 3(1), pages 1-34, March.
    3. Dr. Reem Al-Araj, 2018. "Effectiveness of Auditing in Combating Financial Corporate Corruption in Jordan from Managers’ Perspectives," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 8(7), pages 15-24, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kohn, David & Leibovici, Fernando & Szkup, Michal, 2020. "Financial frictions and export dynamics in large devaluations," Journal of International Economics, Elsevier, vol. 122(C).
    2. Georgiadis, Georgios & Zhu, Feng, 2021. "Foreign-currency exposures and the financial channel of exchange rates: Eroding monetary policy autonomy in small open economies?," Journal of International Money and Finance, Elsevier, vol. 110(C).
    3. Georgios Georgiadis & Feng Zhu, 2019. "Monetary policy spillovers, capital controls and exchange rate flexibility, and the financial channel of exchange rates," GRU Working Paper Series GRU_2019_009, City University of Hong Kong, Department of Economics and Finance, Global Research Unit.
    4. Fischer, Christoph, 2016. "Determining global currency bloc equilibria: An empirical strategy based on estimates of anchor currency choice," Journal of International Money and Finance, Elsevier, vol. 64(C), pages 214-238.
    5. Georgiadis, Georgios & Schumann, Ben, 2021. "Dominant-currency pricing and the global output spillovers from US dollar appreciation," Journal of International Economics, Elsevier, vol. 133(C).
    6. Mikkel Hermansen & Oliver Röhn, 2017. "Economic resilience: The usefulness of early warning indicators in OECD countries," OECD Journal: Economic Studies, OECD Publishing, vol. 2016(1), pages 9-35.
    7. Dedola, Luca & Rivolta, Giulia & Stracca, Livio, 2017. "If the Fed sneezes, who catches a cold?," Journal of International Economics, Elsevier, vol. 108(S1), pages 23-41.
    8. Ghironi, Fabio & Lee, Jaewoo & Rebucci, Alessandro, 2015. "The valuation channel of external adjustment," Journal of International Money and Finance, Elsevier, vol. 57(C), pages 86-114.
    9. Kristin Forbes & Ida Hjortsoe & Tsvetelina Nenova, 2017. "Current Account Deficits During Heightened Risk: Menacing or Mitigating?," Economic Journal, Royal Economic Society, vol. 0(601), pages 571-623, May.
    10. Galstyan, Vahagn & Mehigan, Caroline & Mercado, Rogelio, 2020. "The currency composition of international portfolio assets," Journal of International Money and Finance, Elsevier, vol. 103(C).
    11. Gustavo Adler & Mr. Daniel Garcia-Macia & Signe Krogstrup, 2019. "The Measurement of External Accounts," IMF Working Papers 2019/132, International Monetary Fund.
    12. Paulo Rodelio Halili & Rogelio V. Mercado, Jr., 2022. "The Currency Composition of Asia’s International Investments," Working Papers wp49, South East Asian Central Banks (SEACEN) Research and Training Centre.
    13. McCauley, Robert N., 2015. "Does the US dollar confer an exorbitant privilege?," Journal of International Money and Finance, Elsevier, vol. 57(C), pages 1-14.
    14. Coman, Andra & Lloyd, Simon P., 2022. "In the face of spillovers: Prudential policies in emerging economies," Journal of International Money and Finance, Elsevier, vol. 122(C).
    15. Jonathan Kearns & Nikhil Patel, 2016. "Does the financial channel of exchange rates offset the trade channel?," BIS Quarterly Review, Bank for International Settlements, December.
    16. Bernoth, Kerstin & Herwartz, Helmut, 2021. "Exchange rates, foreign currency exposure and sovereign risk," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 117, pages 1-1.
    17. Ricardo Sabbadini, 2017. "Overcoming the Original Sin: Gains from Local Currency External Debt," Working Papers, Department of Economics 2017_27, University of São Paulo (FEA-USP).
    18. Zorell, Nico, 2017. "Large net foreign liabilities of euro area countries," Occasional Paper Series 198, European Central Bank.
    19. Joscha Beckmann & Mariarosaria Comunale, 2020. "Exchange rate fluctuations and the financial channel in emerging economies," Bank of Lithuania Working Paper Series 83, Bank of Lithuania.
    20. Robert N McCauley, 2018. "The 2008 crisis: transpacific or transatlantic?," BIS Quarterly Review, Bank for International Settlements, December.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cbi:qtbart:y:2017:m:01:p:92-102. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Fiona Farrelly (email available below). General contact details of provider: https://edirc.repec.org/data/cbigvie.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.