06496oam 22016454 450 991096732290332120250426110856.0978661382993197814623770461462377041978145276830414527683079781283517485128351748597814519869761451986971(CKB)3360000000443919(EBL)3014429(SSID)ssj0000940049(PQKBManifestationID)11502265(PQKBTitleCode)TC0000940049(PQKBWorkID)10946750(PQKB)10482491(OCoLC)694141077(IMF)WPIEE2006173(MiAaPQ)EBC3014429(IMF)WPIEA2006173WPIEA2006173(EXLCZ)99336000000044391920020129d2006 uf 0engur|n|---|||||txtccrAnalyzing Balance Sheet Vulnerabilities in a Dollarized Economy : The Case of Georgia /Andreas Billmeier, Johan Mathisen1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (29 p.)IMF Working Papers"July 2006".9781451864335 1451864337 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. BACKGROUND""; ""III. ANALYTICAL FRAMEWORK, KEY CONCEPTS, AND DATA""; ""IV. FOREIGN CURRENCY MISMATCHES IN GEORGIA ""; ""V. ADDRESSING BALANCE-SHEET VULNERABILITIES IN GEORGIA""; ""VI. CONCLUSIONS AND POLICY IMPLICATIONS""; ""REFERENCES""Balance-sheet analysis (BSA) complements traditional flow-oriented macroeconomic analysis by gauging mismatches in aggregate and sectoral balance sheets of an economy. Enabled by recent progress in data availability, this paper applies BSA to Georgia, focusing on currency mismatches. In reviewing developments over the last five years, the paper finds that the still-high level of dollarization continues to create financial vulnerabilities, but that the overall level of currency mismatch has fallen and that liquidity problems are unlikely, in part owing to a strengthening of sectoral buffers, hedges, and insurance against shocks. Policy recommendations include accumulating reserves, strengthening securities markets, enhancing banking supervision, and maintaining a flexible exchange rate.IMF Working Papers; Working Paper ;No. 2006/173Dollar, AmericanFiscal policyGeorgiaMonetary policyGeorgiaAccountingimfBankingimfBanks and BankingimfBanks and bankingimfBanksimfCentral banksimfCommercial banksimfCurrenciesimfCurrency mismatchesimfData AccessimfDebts, ExternalimfDepository InstitutionsimfEconomywide Country Studies: EuropeimfExports and ImportsimfExternal debtimfFinanceimfFinance: GeneralimfFinancial institutionsimfFinancial risk managementimfFinancial sector policy and analysisimfForeign exchange reservesimfGeneral Financial Markets: Government Policy and RegulationimfGovernment and the Monetary SystemimfInternational economicsimfInternational Lending and Debt ProblemsimfInternational reservesimfMacroeconomic Analyses of Economic DevelopmentimfMacroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: GeneralimfMethodology for Collecting, Estimating, and Organizing Macroeconomic DataimfMicro Finance InstitutionsimfMonetary economicsimfMonetary PolicyimfMonetary SystemsimfMoney and Monetary PolicyimfMoneyimfMortgagesimfPayment SystemsimfRegimesimfStandardsimfGeorgiaimfDollar, American.Fiscal policyMonetary policyAccountingBankingBanks and BankingBanks and bankingBanksCentral banksCommercial banksCurrenciesCurrency mismatchesData AccessDebts, ExternalDepository InstitutionsEconomywide Country Studies: EuropeExports and ImportsExternal debtFinanceFinance: GeneralFinancial institutionsFinancial risk managementFinancial sector policy and analysisForeign exchange reservesGeneral Financial Markets: Government Policy and RegulationGovernment and the Monetary SystemInternational economicsInternational Lending and Debt ProblemsInternational reservesMacroeconomic Analyses of Economic DevelopmentMacroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: GeneralMethodology for Collecting, Estimating, and Organizing Macroeconomic DataMicro Finance InstitutionsMonetary economicsMonetary PolicyMonetary SystemsMoney and Monetary PolicyMoneyMortgagesPayment SystemsRegimesStandardsBillmeier Andreas1816483Mathisen Johan1816371International Monetary Fund.Middle East and Central Asia Dept.DcWaIMFBOOK9910967322903321Analyzing Balance Sheet Vulnerabilities in a Dollarized Economy4372590UNINA