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2021 Comprehensive Surveillance Review— Background Paper on The Surveillance Priority Confronting Risks and Uncertainties

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Release : 2021-05-18
Genre : Business & Economics
Kind : eBook
Book Rating : 618/5 ( reviews)

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Book Synopsis 2021 Comprehensive Surveillance Review— Background Paper on The Surveillance Priority Confronting Risks and Uncertainties by : International Monetary

Download or read book 2021 Comprehensive Surveillance Review— Background Paper on The Surveillance Priority Confronting Risks and Uncertainties written by International Monetary. This book was released on 2021-05-18. Available in PDF, EPUB and Kindle. Book excerpt: The coverage of risks has become more systematic since the Global Financial Crisis (GFC): staff reports now regularly identify major risks and provide an assessment of their likelihood and economic impact, summarized in Risk Assessment Matrices (RAM). But still limited attention is paid to the range of possible outcomes. Also, risk identification is useful only so much as to inform policy design to preemptively respond to relevant risks and/or better prepare for them. In this regard, policy recommendations in surveillance could be richer in considering various risk management approaches. To this end, progress is needed on two dimensions: • Increasing emphasis on the range of potential outcomes to improve policy design. • Encouraging more proactive policy advice on how to manage risks. Efforts should continue to leverage internal and external resources to support risk analysis and advice in surveillance.

2021 Comprehensive Surveillance Review— Background Paper on Scenario Planning

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Release : 2021-05-18
Genre : Business & Economics
Kind : eBook
Book Rating : 174/5 ( reviews)

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Book Synopsis 2021 Comprehensive Surveillance Review— Background Paper on Scenario Planning by : International Monetary

Download or read book 2021 Comprehensive Surveillance Review— Background Paper on Scenario Planning written by International Monetary. This book was released on 2021-05-18. Available in PDF, EPUB and Kindle. Book excerpt: The scenario planning exercises help to draw out the surveillance priorities and stress- test the robustness of those priorities to uncertainties in the decade ahead. To inform the two priorities on confronting risks and uncertainties and mitigating spillovers, the scenarios illustrate how different shocks and alternative policy approaches carry their own risks and can have both positive and negative spillovers. The scenarios also illustrate some of the complex economic and non-economic factors that feed into the priority on economic sustainability and demonstrate how resource constraints and changing economic structures underpin the need for a unified policy approach.

2021 Comprehensive Surveillance Review— Background Paper on Main Findings from The Stakeholder Surveys

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Release : 2021-05-18
Genre : Business & Economics
Kind : eBook
Book Rating : 883/5 ( reviews)

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Book Synopsis 2021 Comprehensive Surveillance Review— Background Paper on Main Findings from The Stakeholder Surveys by : International Monetary

Download or read book 2021 Comprehensive Surveillance Review— Background Paper on Main Findings from The Stakeholder Surveys written by International Monetary. This book was released on 2021-05-18. Available in PDF, EPUB and Kindle. Book excerpt: This note presents key results from the surveys of country authorities, IMF Executive Directors (EDs), and mission chiefs (MCs) to inform the Comprehensive Surveillance Review (CSR). Key takeaways and cross-cutting themes that emerge are Trends, Policy Challenges, Surveillance Priorities, Surveillance modalities and Traction.

2021 Comprehensive Surveillance Review — Overview Paper

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Release : 2021-05-18
Genre : Business & Economics
Kind : eBook
Book Rating : 421/5 ( reviews)

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Book Synopsis 2021 Comprehensive Surveillance Review — Overview Paper by : International Monetary

Download or read book 2021 Comprehensive Surveillance Review — Overview Paper written by International Monetary. This book was released on 2021-05-18. Available in PDF, EPUB and Kindle. Book excerpt: Fund surveillance needs to evolve to face the economic and financial challenges that will shape the global landscape for years to come. This paper first takes stock of the current economic and financial landscape. To better serve the membership in this context, Fund surveillance should be prioritized around four key priorities: (i) confronting risks and uncertainties: policymakers will need to actively manage the risks of a highly uncertain outlook; (ii) preempting and mitigating adverse spillovers: shifting patterns of global economic integration will bring about new channels for contagion and policy spillovers; (iii) fostering economic sustainability: a broader understanding of sustainability to better account for the impact of economic and non-economic developments on stability; and (iv) unified policy advice: better accounting for the trade-offs and synergies among different policy combinations in the face of limited policy space and overlapping priorities, tailored to country-specific circumstances. These priorities should further enhance the traction of Fund surveillance.

2021 Comprehensive Surveillance Review— Modalities for Modernizing Surveillance

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Release : 2021-05-18
Genre : Business & Economics
Kind : eBook
Book Rating : 472/5 ( reviews)

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Book Synopsis 2021 Comprehensive Surveillance Review— Modalities for Modernizing Surveillance by : International Monetary

Download or read book 2021 Comprehensive Surveillance Review— Modalities for Modernizing Surveillance written by International Monetary. This book was released on 2021-05-18. Available in PDF, EPUB and Kindle. Book excerpt: Modern Fund surveillance needs to be more targeted, topical and timely, better interconnected and better informed. Modernizing surveillance will likely require additional resources, although estimates are highly uncertain at this stage. The paper offers a tentative costing of new proposals with significant budgetary implications. Other proposals could rely on optimizing processes, while others are underway and funded separately; the resource implications of yet others are being picked up in context of other workstreams. Estimates do not include short-term transition costs or pressures on support services and are subject to a significant degree of uncertainty. A flexible approach to implementing the new modalities, characterized by experimentation and learning-by- doing—a “sandbox” for new modalities—is proposed.

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