Program Design in Currency Unions is popular PDF and ePub book, written by International Monetary Fund. Strategy, Policy, & Review Department in 2018-03-16, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Program Design in Currency Unions can be Read Online from any device for your convenience.
Program Design in Currency Unions Book PDF Summary
"Despite a long history of program engagement, the Fund has not developed guidance on program design in members of currency unions. The Fund has engaged with members of the four currency unions—the Central African Economic and Monetary Community, the Eastern Caribbean Currency Union, the European Monetary Union, and the West African Economic and Monetary Union—under Fund-supported programs. In some cases, union-wide institutions supported their members in undertaking adjustment under Fund-supported programs. As such, several programs incorporated—on an ad hoc basis—critical policy actions that union members had delegated. Providing general guidance on program design for members in a currency union context would fill a gap in Fund policy and help ensure consistent, transparent, and evenhanded treatment across Fund-supported programs. This paper considers two options on when and how the Fund should seek policy assurances from union-level institutions in programs of currency union members. Option 1 would involve amending the Conditionality Guidelines, which would allow the use of standard conditionality tools with respect to actions by union-level institutions. Option 2—which staff prefers—proposes formalizing current practices and providing general guidance regarding principles and modalities on policy assurances from union-level institutions in support of members’ adjustment programs. Neither option would infringe upon the independence (or legally-provided autonomy) of union-level institutions, since the institutions would decide what measures or policy actions to take—just as any independent central bank or monetary authority does, for example, in non-CU members."
Detail Book of Program Design in Currency Unions PDF
- Author : International Monetary Fund. Strategy, Policy, & Review Department
- Release : 16 March 2018
- Publisher : International Monetary Fund
- ISBN : 9781498307284
- Genre : Business & Economics
- Total Page : 71 pages
- Language : English
- PDF File Size : 7,5 Mb
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