Challenges in Correspondent Banking in the Small States of the Pacific - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Challenges in Correspondent Banking in the Small States of the Pacific write by Jihad Alwazir. This book was released on 2017-04-13. Challenges in Correspondent Banking in the Small States of the Pacific available in PDF, EPUB and Kindle. Access to financial services in the small states of the Pacific is being eroded. Weaknesses in Anti-Money Laundering and Combating the Financing of Terrorism compliance in the context of high levels of remittances are contributing to banks’ decisions to withdraw corresponding banking relationships and close bank accounts of money transfer operators. In this paper, we gather evidence on these developments in the small states of the Pacific, discuss the main drivers, and the potentially negative impact on the financial sector and macroeconomy. We then identify the collective efforts needed to address the consequences of withdrawal of corresponding banking relationships and outline policy measures to help the affected countries mitigate the impact.
The Withdrawal of Correspondent Banking Relationships
The Withdrawal of Correspondent Banking Relationships - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Withdrawal of Correspondent Banking Relationships write by Mrs.Michaela Erbenova. This book was released on 2016-06-30. The Withdrawal of Correspondent Banking Relationships available in PDF, EPUB and Kindle. This paper focuses on the withdrawal of correspondent banking relationships (CBRs) in some jurisdictions post-global financial crisis. It describes existing evidence and consequences of the withdrawal of CBRs and explores drivers of this phenomenon drawing on recent surveys and select country information. While the withdrawal of CBRs has reached a critical level in some affected countries, which can have a systemic impact if unaddressed, macroeconomic consequences have not been identified so far at a global level. The paper presents responses from the international community to address this phenomenon, and explains the role that the IMF has been playing in this global effort, especially with regards to supporting member countries in the context of surveillance and technical assistance, facilitating dialogue among stakeholders, and encouraging data gathering efforts. The paper concludes by suggesting policy responses by public and private sector stakeholders needed to further mitigate potential negative impacts that could undermine financial stability, inclusion, growth and development goals.
Vanuatu
Vanuatu - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Vanuatu write by International Monetary. This book was released on 2023-03-22. Vanuatu available in PDF, EPUB and Kindle. Following a successful COVID-19 containment strategy, the border reopened in July 2022, and tourism is returning to Vanuatu. Economic activity is expected to be strong in the near term, with real GDP growing around 3.4 percent in 2023, as tourism and construction activities resume. High imported prices are likely to stoke inflation and push the current account into deficit, while fiscal policy will turn more expansionary. The Economic Citizenship Program (ECP) is facing significant challenges, with important implications for revenue and governance, while Air Vanuatu, the national airline, is facing serious operational and financial difficulties. Key structural vulnerabilities relating to climate change, limited infrastructure development capacity, and weak governance, persist.
Handbook of Small States
Handbook of Small States - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Handbook of Small States write by Lino Briguglio. This book was released on 2018-05-11. Handbook of Small States available in PDF, EPUB and Kindle. This handbook covers a wide spectrum of issues relating to small states. Chapters in the volume have been grouped under the three main themes of economic, social and environmental issues. The economics sections include chapters dealing with trade, finance and regulatory frameworks, while the social theme covers health, migration, population ageing, as well as overall social wellbeing. The environmental theme examines matters such as measuring environmental performance, natural disasters, the ocean economy, and the validity of the Sustainable Development Goals. One major issue is the definition of small states. As this volume demonstrates, generally speaking, population is used to measure country size in the literature. However, it clearly emerges that there is no real consensus as to the population cut-off point that distinguishes small states from large ones. While the approaches taken by the authors vary, in all cases the chapters draw practical policy implications for small states. The book can therefore be considered as a wide-ranging depositary of information on small states with the aim of deriving policy prescriptions, and thus as an excellent resource for academics, students and policymakers.
Vanuatu: 2021 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Vanuatu
Vanuatu: 2021 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Vanuatu - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Vanuatu: 2021 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Vanuatu write by International Monetary. This book was released on 2021-09-14. Vanuatu: 2021 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Vanuatu available in PDF, EPUB and Kindle. Border closures and other pandemic containment measures have kept Vanuatu free from COVID-19. However, they have dealt a heavy blow to economic activity as tourism has come to a virtual halt. On top of the pandemic, Tropical Cyclone Harold and a volcanic eruption in Tanna Island caused extensive economic damage in 2020. In the context of a continued loss of correspondent banking relationships (CBRs) in the Pacific, Vanuatu also lost a key CBR at end-June 2021. Air Vanuatu, one of the state-owned enterprises (SOEs), is in the process of being restructured.
