Repository

The topics for discussion on this portal have already been analyzed by multiple actors. In this repository, the GS / OAS brings together some of them, as one more contribution to the discussion. This repository has two sections: In the Policy section, we will integrate information on policies relevant to the issues under discussion that are being implemented by Member States, Observer States and other States of the world. In Studies we will include analyzes, reports and reports published by academic institutions, think tanks, international and multilateral organizations, non-governmental organizations and private entities, all of them of recognized prestige, which are relevant to the conversation. The OAS will publish these articles and reports in their original language.

FMI - Se necesita con urgencia una reforma de la arquitectura internacional de la deuda

  • 31 October 2020

La pandemia de COVID-19 ha empujado los niveles de deuda hasta nuevos máximos. En comparación con finales de 2019, se proyecta que los coeficientes de endeudamiento promedio en 2021 aumenten un 20% del PIB en las economías avanzadas, un 10% del PIB en las economías de mercados emergentes y aproximadamente un 7% en los países de bajo ingreso. Estos incrementos se suman a unos niveles de deuda que ya son históricamente altos. Si bien muchas economías avanzadas todavía tienen capacidad de endeudamiento, los países de mercados emergentes y los de bajo ingreso afrontan limitaciones mucho más restrictivas de su capacidad de contraer nuevas deudas.

IMF - Uruguay’s Secret to Success in Combating COVID-19

  • 4 August 2020

The speed at which measures were adopted and the scientific guidance were two main characteristics of Uruguay’s COVID-19 response. It started testing early and in large scale, developing its own diagnostic tests and contagion tracking technologies. Combined with community tracing in outbreak areas, this facilitated timely detection of the virus spread.

IMF - The One Factor That Could Determine Whether you Keep or Lose Your Job During a Recession

  • 30 July 2020

There has been much discussion in recent months about how workers who transitioned to working from home—and those who were deemed “essential”—are less affected by the layoffs and job losses brought on by lockdowns than are workers in “social” jobs that require closer human interaction, like restaurant workers. However, our new IMF staff research suggests that this does not tell the full story.

IMF - Corruption and COVID-19

  • 28 July 2020

Corruption, the abuse of public office for private gain, is about more than wasted money: it erodes the social contract and corrodes the government’s ability to help grow the economy in a way that benefits all citizens. Corruption was a problem before the crisis, but the COVID-19 pandemic has heightened the importance of stronger governance for three reasons.

IMF Executive Board Approves a Temporary Increase in Annual Access Limits to Financial Support

  • 22 July 2020

The severe impact of the COVID-19 pandemic on global economic conditions has resulted in an unprecedented number of member countries seeking financial support from the IMF. As of July 13, 2020, 72 countries have already received financial assistance from the IMF’s emergency financing instruments since the onset of the pandemic, facilitated by the doubling of annual access limits under these facilities approved by the Executive Board on April 6. Further requests for assistance, the majority of which are likely to be met through the IMF’s regular lending instruments, are expected in the months ahead.

IMF - The Platform for Collaboration on Tax Publishes its Progress Report 2020

  • 10 July 2020

The Platform for Collaboration on Tax (PCT) – a joint initiative of the IMF, OECD, UN and the World Bank – published today its Progress Report 2020, which gives a snapshot of the world’s four leading multilateral organizations’ cooperation in the area of domestic resource mobilization, including in their responses to COVID-19.

IMF - A Joint Response for Latin America and the Caribbean to Counter the COVID-19 Crisis

  • 24 June 2020

Within the region, the Caribbean economies are suffering even more due to their high dependence on one of the most dramatically impacted sectors—tourism—which, for some, accounts for 50 to 90 percent of GDP and employment.

Given the scale of the crisis and unprecedented uncertainty, governments have had to also deploy fiscal measures to strengthen the health system, protect the most vulnerable and support employment and otherwise viable businesses.

COVID-19: The Regulatory and Supervisory Implications for the Banking Sector

  • 4 June 2020

This joint IMF-World Bank note provides a set of high-level recommendations that can guide national regulatory and supervisory responses to the COVID-19 pandemic and offers an overview of measures taken across jurisdictions to date.

Saint Vincent and the Grenadines- The IMF Executive Board Approved the Request of Saint Vincent and the Grenadines for Emergency Financing Assistance of about US$16 Million ...

... to help address the challenges posed by the COVID-19 pandemic

  • 26 May 2020

The pandemic has hit Saint Vincent and the Grenadines hard. Tourism receipts have dried up, as tourism arrivals have come to a complete halt. The economy is now projected to contract by 5.5 percent —7.8 percentage points below pre-COVID-19 projections. A drop in fiscal revenues, combined with additional direct health and social expenditures, will increase the fiscal deficit and financing needs. IMF support will help cover some of these needs and allow the government to ease the impact on the population.

IMF - Trade as a Tool for an Efficient Recovery

  • 19 May 2020

As economies now look for paths to recovery from the COVID-19 crisis, new evidence reaffirms that policies for more open and trade-integrated economies could significantly benefit domestic competition and ultimately may help lower costs for consumers in emerging and developing economies.

Budget Execution Controls to Mitigate Corruption Risk in Pandemic Spending

  • 19 May 2020

The COVID-19 pandemic has resulted in countries ramping up spending and contingent spending to address urgent needs related to saving lives and livelihoods. To ensure the effectiveness of such spending, it is crucial to be mindful of vulnerabilities to misuse and corruption. Emergency spending responses have differed markedly across countries and ensuring the effectiveness of such spending require different specific approaches in each country. Yet there are some common lessons, particularly for countries in which institutional capacities are constrained and fiscal governance is weak—notably in public financial management (PFM) systems and fiscal transparency practices. Drawing on lessons from the 2014–16 Ebola crisis, this note identifies measures that could mitigate corruption vulnerabilities, with a particular focus on budget execution controls.

Policy Responses to COVID-19

  • 1 May 2020

The International Monetary Fund (IMF) published a Policy Tracker  which summarizes the key economic responses governments are taking to limit the human and economic impact of the COVID-19 pandemic. The tracker includes 193 economies.

The Short-Term Liquidity Line: A New IMF Tool to Help in the Crisis

  • 22 April 2020

We cannot predict when such liquidity shortages will happen. But we do know that when the global capital pipelines freeze up, a short-term liquidity problem can quickly slide into a deeper and longer-lasting solvency problem. A liquidity line that is available on demand can be a lifeline in such cases.

The IMF responded to this need by establishing a new facility last week called the Short-term Liquidity Line (SLL), the first addition to the IMF’s financing toolkit in almost ten years. As part of its broader crisis-response strategy, this new facility provides a reliable and renewable credit line, without ex post conditionality, to members with very strong fundamentals and policy frameworks—the same qualification criteria as another IMF facility called the Flexible Credit Line. The SLL is designed to address a special balance-of-payments need—potential, moderate, and short-term—reflected in capital account pressures following external shocks.