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Principality of Andorra: Staff Concluding Statement of the 2025 Article IV Mission
February 11, 2025
IMF Staff Completes 2025 Article IV Consultation with Morocco
February 10, 2025
A Stronger Engine for Middle East and North Africa’s Growth
February 10, 2025
Sibling Rivalry in the Financial Safety Net: Governance Arrangements for Bank Resolution and Deposit Insurance
February 10, 2025
The technical note and manual "Sibling Rivalry in the Financial Safety Net," authored by Atilla Arda and Jan Nolte, examines the governance structures essential critical for effective bank resolution and deposit insurance functions. Considering the vulnerabilities exposed during the 2008-09 global financial crisis, the note emphasizes the interconnectedness of these two critical functions, both of which aim to safeguard depositors and maintain financial stability.
The authors discuss various institutional arrangements, highlighting the choice between integrating both functions within existing agencies or establishing new entities. The note then identifies potential conflicts of interest among resolution authorities, deposit insurance systems, other safety net participants such as central banks and supervisory agencies, and the financial sector. These potential conflicts underscore the necessity of robust governance frameworks to address these challenges and ensure autonomy, operational independence, and accountability of the two functions.
The note emphasizes the need for strong legal protections for individuals in charge of resolution and deposit insurance, ensuring they can take decisive actions during crises. By exploring best practices and case studies, including Denmark's integrated framework, the authors provide valuable insights into optimizing institutional and governance arrangements by integrating the deposit insurance function within the resolution authority. This could support effective cooperation among authorities which is vital for creating resilient financial safety nets.
IMF Executive Board Holds Informal Briefing on Venezuela
February 7, 2025
Japan: Staff Concluding Statement of the 2025 Article IV Mission
February 7, 2025
IMF and the Group of Twenty
February 7, 2025
Transcript of Press Briefing on Japan Article IV
February 7, 2025
Republic of Korea: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Korea
February 7, 2025
The Korean economy has remained resilient against multiple shocks. Economic
growth has recovered, inflation has steadily declined, and financial stability risks have
decreased. However, downside risks have increased amid high uncertainty from policy
shifts in major trading partners and recent domestic political developments. Key
medium-term challenges are to boost the growth potential amidst rapid population
aging, and to adapt to shifting trade patterns, transformative technological change, and
climate vulnerabilities.