Policy Papers
2005
September 19, 2005
The G-8 Debt Cancellation Proposal and Its Implications for the Fund - Further Considerations
Description: The G-8 has proposed that the Fund, the International Development Association, and the African Development Fund cancel 100 percent of their claims on countries having reached, or upon reaching, the completion point under the enhanced Heavily Indebt Poor Country (HIPC) Initiative. The proposal was initially presented to the G-8 Finance Ministers' Conclusions on Development issued on June 11, 2005, and reaffirmed in the statement on Africa signed by G-8 Heads of State and Government at the Gleneagles Summit on July 8, 2005.
September 15, 2005
The Managing Director's Report on the Fund's Medium-Term Strategy
Description: This paper brings together the many formal and informal discussions over the past year between the staff, management, and the Executive Board on the strategic direction of the Fund. Some ideas have also been discussed with country authorities and with outside observers, as part of the Fund’s normal outreach and consultation. While not comprehensive in scope, the paper does aim for a shared vision that could inform the day-to-day work and decisions of the Fund.
September 8, 2005
Review of PRGF-HIPC Financing, the Adequacy of the Reserve Account of the PRGF Trust, and Subsidization of Emergency Assistance
Description: Provides the basis for the semi-annual decision on the adequacy of the Reserve Account of the PRGF Trust. It also updates the status of resources for financing PRGF operations and the HIPC Initiative and bilateral contributions to the subsidization of emergency assistance.
September 2, 2005
Quotas and Voice - Further Considerations
Description: This paper takes stock of the progress made in quota discussions to date, and examines options for adjustments in quotas or voting power outside of a general quota increase. Section II reviews the status of recent quota discussions, while Section III presents the results of updating the data through 2003. Section IV discusses the options for addressing the distribution of quotas and voting power outside of a general increase in quotas. Section V concludes and poses some issues for discussion.
September 2, 2005
Implementation of the Policy Support Instrument
Description: Within the terms of the proposed decisions, staff has formulated specific proposals on a number of issues raised in general terms during the previous Board discussion: (i) the modalities for a fixed schedule of reviews, including how to signal that a program is back on track; (ii) the application of a misreporting framework under the PSI; and (iii) the relationship between the PSI and the PRS process.
August 31, 2005
Anti-Money Laundering and Combating the Financing of Terrorism - Observations from the Work Program and Implications Going Forward
Description: This paper provides a summary of the IMF and the World Bank work programs on anti-money laundering and combating the financing of terrorism following the Fund and Bank Boards' decisions in March 2004 to endorse the revised FATF standard (2003 version) and methodology for the purposes of preparing ROSCs and to expand the areas of Bank/Fund responsibility to cover the revised FATF standard comprehensively. It draws lessons on what has worked well and the challenges and discusses the work program going forward.
August 31, 2005
Anti-Money Laundering and Combating the Financing of Terrorism - Observations from the Work Program and Implications Going Forward - Supplementary Information
Description: The first part presents the findings concerning overall compliance with the revised standard and methodology and the second part compares these findings to those of assessments under the old methodology. The third part discusses interpretative and application issues and the fourth describes logistical issues based on the experience of the assessments carried out to date.
August 24, 2005
Review of the Fund's Strategy on Overdue Financial Obligations
Description: Reviews progress under the Fund's strengthened cooperative strategy on overdue financial obligations and proposes to extend the availability of the rights approach, which expires on August 31, 2005, by another year. The rights approach remains a potentially important element of the intensified collaborative approach for arrears clearance for the three members that remain eligible, Liberia, Somalia, and Sudan.
August 19, 2005
Heavily Indebted Poor Countries Initiative - Status of Implementation
Description: This report reviews progress and issues in implementing the enhanced HIPC Initiative. In addition to updating information on the delivery of HIPC debt relief and its estimated costs, it discusses two particular issues: the decline in the participation of commercial and non-Paris Club bilateral creditors to the Initiative; and the preliminary list of countries that satisfy the indebtedness eligibility criterion under the extended HIPC sunset clause.
August 16, 2005