IMF new releases

New releases for the IMF:

Working Papers

• Working Paper No. 08/224: Systemic Banking Crises: A New Database
  Author/Editor: Laeven, Luc; Valencia, Fabian
  Summary: This paper presents a new database on the timing of systemic banking crises and policy responses to resolve them. The database covers the universe of systemic banking crises for the period 1970-2007, with detailed data on crisis containment and resolution policies for 42 crisis episodes, and also includes data on the timing of currency crises and sovereign debt crises. The database extends and builds on the Caprio, Klingebiel, Laeven, and Noguera (2005) banking crisis database, and is the most complete and detailed database on banking crises to date.

Policy Papers

• The Role of the IMF in Low-Income Countries - Background Paper
  Summary: This paper provides background material to the Board paper on "The Role of the IMF in Low Income Countries." The main paper outlines a comprehensive approach for Fund engagement with Low-Income Countries (LICs) going forward. The background material in this paper provides a comprehensive stock-taking of the Fund's involvement and policy advice in LICs since the establishment of the Poverty Reduction and Growth Facility (PRGF) in 1999.
• The Role of the Fund in Low-Income Countries
  Summary: This paper takes stock of the work over the past four years on the role of the Fund in LICs, and outlines a comprehensive approach for Fund engagement. It responds to the Board's request for a synthesis of the full range of policy decisions and developments related to the Fund's work in LICs since 2004. A key purpose is to ensure that, as the Fund is refocusing its work, LIC-related objectives and responsibilities are well articulated and understood.
• Food and Fuel Prices-Recent Developments, Macroeconomic Impact, and Policy Responses-An Update
  Summary: This report updates the macroeconomic assessment of the impact of global food and fuel price increases provided in the IMF June 2008 Board paper: Food and Fuel Prices-Recent Developments, Macroeconomic Impact, and Policy Response. Food and oil prices peaked in early summer-in particular, oil prices surged to levels envisaged under the most adverse scenario presented in the June paper. Against this background, the effects of higher prices on the balance of payments, budgets, and domestic prices intensified and a large group of low- and middle-income countries is experiencing a substantial weakening of their balance of payments and higher inflation. These findings reinforce the importance of adopting appropriate policies to maintain macroeconomic stability while protecting the poor.

Country Reports

• Country Report No. 08/308: Russian Federation: Selected Issues
• Country Report No. 08/309: Russian Federation: 2008 Article IV Consultation-Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
• Country Report No. 08/310: Dominica: 2008 Article IV Consultation - Staff Report; Staff Supplement; Staff Statement, and Public Information Notice on the Executive Board Discussion.
• Country Report No. 08/311: Australia: Selected Issues
• Country Report No. 08/313: Hungary: 2008 Article IV Consultation - Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion
• Country Report No. 08/314: Hungary: Selected Issues
• Country Report No. 08/315: Kingdom of the Netherlands - Netherlands Antilles: 2008 Article IV Consultation - Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Kingdom of the Netherlands - Netherlands Antilles
• Country Report No. 08/316: Kingdom of the Netherlands - Aruba: Detailed Assessment of Compliance with the Basel Core Principles for Effective Banking Supervision
• Country Report No. 08/317: Kingdom of the Netherlands - Aruba: Assessment of Financial Sector Supervision and Regulation

Surveys

• IMF Says Crisis Marks Tectonic Shift in Financial Markets
  The upheaval from the U.S. financial crisis is like a tectonic shift on a scale not seen in the financial systems around the world, the IMF's John Lipsky says. He tells a California conference that a serious downturn in the global economy can be avoided.
• Fifty Countries Still Hurt by Food, Fuel Crisis, IMF Says
  Although food and fuel prices have eased from recent peaks, some 50 low and middle-income countries have suffered a significant "shock" and will remain at risk through 2009 because of deteriorating foreign exchange reserves, rising inflation, and slowing world growth, according to an IMF study.
• New Channels Spread U.S. Subprime Crisis To Other Markets
  New channels spread the mid-2007 turbulence in the U.S. subprime mortgage market to other U.S. and foreign markets, IMF research indicates. Financial innovations and closer links between banks helped transform what started as a liquidity crisis into a solvency issue for financial institutions.
• Africa Strives to Preserve Recent Gains
  Facing high food and fuel prices, some African countries are in danger of seeing the progress achieved in recent years slip away, Antoinette Sayeh tells IMF Survey online.