Current Developments in Monetary and Financial Law, Volume 4
International Monetary Fund, 2005 - Business & Economics - 852 pages
The Legal Department and the Institute of the IMF held their ninth biennial seminar for legal advisors of IMF member countries’ central banks, and the papers published in this volume are based on presentations made by officials attending this seminar. The seminar covered a broad range of topics, including sovereign debt restructuring, money laundering and the financing of terrorism, financial system and banking supervision, conflicts of interest and market discipline in the financial sector, insolvency, and other issues related to central banking.
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activities Article VIII assessment assets authority autonomy Board bonds capital central bank independence claims collective action collective action clauses commercial banks corporate countries court creditors crisis currency debt restructuring debtor decision default deposits discussion e-money economic effective electronic Electronic Money enforcement European European Central Bank exchange rate financial conglomerate financial holding company financial institutions financial sector financial system firms fiscal foreign framework FSAP funds Glass-Steagall Glass-Steagall Act IMF's Indonesia insolvency International Monetary Fund investment banks investors issues JITF limited loans MFIs microfinance monetary policy nonbank payment systems percent political priority prudential regulation regulated entities regulatory Report restructuring process risk rules SDRM proposal Section securities affiliates sovereign bankruptcy sovereign debt Sovereign Debt Restructuring stability stored-value stored-value cards supervisory Supplementary Supervision Directive supra note supra note 25 surveillance terrorist tion transactions voting World Bank
Page 18 - To facilitate the expansion and balanced growth of international trade, and to contribute thereby to the promotion and maintenance of high levels of employment and real income and to the development of the productive resources of all members as primary objectives of economic policy.
Page 19 - Subject to the provisions of Article VII, Section 3 (b), and Article XIV, Section 2, no member shall, without the approval of the Fund, impose restrictions on the making of payments and transfers for current international transactions.
Page 18 - To assist in the establishment of a multilateral system of payments in respect of current transactions between members and in the elimination of foreign exchange restrictions which hamper the growth of world trade.
Page 20 - All payments due in connection with foreign trade, other current business, including services, and normals hort-term banking and credit facilities ; (2) Payments due as interest on loans and as net income from other investments ; (3) Payments of moderate amount for amortization of loans or for depreciation of direct investments...
Page 3 - To give confidence to members by making the Fund's resources available to them under adequate safeguards, thus providing them with opportunity to correct maladjustments in their balance of payments without resorting to measures destructive of national or international prosperity.