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Weathering the Global Storm [electronic resource] : The Benefits of Monetary Policy Reform in the La5 Countries.

Author/Creator:
International Monetary Fund
Publication:
Washington, D.C. : International Monetary Fund, 2010.
Format/Description:
Government document
Book
1 online resource (56 p.)
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 10/292.
IMF Working Papers; Working Paper No. 10/292
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Local subjects:
Balance of payments. (search)
Balance sheet effects. (search)
Central bank. (search)
Central bank autonomy. (search)
Central banks. (search)
Central Banks and Their Policies. (search)
Currency board. (search)
Currency crisis. (search)
Current account. (search)
Current account balance. (search)
Current account balances. (search)
Current accounts. (search)
Debt burden. (search)
Debt crises. (search)
Debt ratio. (search)
Domestic currencies. (search)
Domestic currency. (search)
Domestic public sector debt. (search)
Expansionary monetary policies. (search)
External borrowing. (search)
External debt. (search)
External debts. (search)
External financing. (search)
External liquidity. (search)
External payments. (search)
External public sector debt. (search)
External shocks. (search)
Global Financial Crisis -- 2008-2009. (search)
Government debt. (search)
Government securities. (search)
Inflation. (search)
Inflation targeting. (search)
Inflation-targeting. (search)
International debt. (search)
Liquidity crisis. (search)
Liquidity injection. (search)
Liquidity management. (search)
Marginal reserve requirement. (search)
Marginal reserve requirements. (search)
Minimum reserve requirement. (search)
Monetary authority. (search)
Monetary conditions. (search)
Monetary framework. (search)
Monetary frameworks. (search)
Monetary fund. (search)
Monetary instruments. (search)
Monetary policies. (search)
Monetary policy. (search)
Monetary Policy (Targets, Instruments, and Effects). (search)
Monetary policy decisions. (search)
Monetary policy framework. (search)
Monetary policy frameworks. (search)
Monetary policy implementation. (search)
Monetary policy instruments. (search)
Monetary policy reaction function. (search)
Monetary policy regime. (search)
Monetary policy regimes. (search)
Monetary program. (search)
Monetary stability. (search)
Money demand. (search)
Money supply. (search)
Open market operations. (search)
Policy Coordination. (search)
Policy Designs and Consistency. (search)
Policy Objectives. (search)
Private banks. (search)
Private credit. (search)
Private financial institutions. (search)
Public debt. (search)
Public debt crises. (search)
Public external debt. (search)
Public sector debt. (search)
Rediscount rate. (search)
Reserve accumulation. (search)
Reserve assets. (search)
Reserve bank. (search)
Reserve requirement. (search)
Reserve requirements. (search)
Treasury bonds. (search)
Brazil. (search)
Chile. (search)
Colombia. (search)
Latin America. (search)
Mexico. (search)
Peru. (search)
Summary:
This paper highlights that central banks from Brazil, Chile, Colombia, Mexico, and Peru (the LA5 countries) reaped the benefits of what they sowed in successfully weathering the global crisis. The adoption of far-reaching institutional, policy, and operational reforms during the last two decades enabled central banks to build credibility about their commitment with the objective of price stability. Thus, when the 2007 - 08 supply shock and the financial crisis hit the world, the LA5 central banks reacted swiftly and effectively based on a flexible policy framework and with the support of strong macroeconomic and financial foundations. Building on the experience of the LA5 central banks and complementing with recommendations from the IMF’s technical advice, the paper provides several suggestions for countries seeking to strengthen the effectiveness of monetary policy.
Notes:
Description based on print version record.
Contributor:
International Monetary Fund
Other format:
Print Version:
ISBN:
1455211737:
9781455211739
ISSN:
1018-5941
Publisher Number:
10.5089/9781455211739.001
Access Restriction:
Restricted for use by site license.