EL Salvador: Ex Post Evaluation of Exceptional Access Under the 2009 Stand-By Arrangement
September 30, 2010
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The primary objective of the program was to prevent a crisis of confidence by signaling policy continuity and providing a liquidity buffer in case such shocks materialized. In addition, the program sought to preserve macroeconomic stability by focusing on sustaining fiscal prudence and financial sector reforms. IMF policy requires an ex post evaluation (EPE) of GRA-supported programs with exceptional access within a year after the end of the arrangement. Large provision of liquidity and effective use of IMF’s lending facilities can be effective in preventing a crisis.
Subject: Bank deposits, Banking, Central Banks, Commercial banks, Financial institutions, Financial regulation and supervision, Fiscal policy, Fiscal stance, International reserves, Public debt
Keywords: bank, banking system, capital account, Commercial banks, confidence-enhancing effect, CR, deposit, deposit flight, deposit outflow, El Salvador program, financial system, Fiscal stance, Global, government, government deposit, International reserves, ISCR, Non-program region, private sector, program, SBA negotiation, Stand-By Arrangement
Pages:
27
Volume:
2010
DOI:
Issue:
303
Series:
Country Report No. 2010/303
Stock No:
1SLVEA2010002
ISBN:
9781455208661
ISSN:
1934-7685
