LEADER 07506oam 22015494 450 001 9910785528303321 005 20230801224030.0 010 $a1-4755-4381-6 010 $a1-4755-7201-8 035 $a(CKB)2670000000234725 035 $a(EBL)1587746 035 $a(SSID)ssj0000817873 035 $a(PQKBManifestationID)11460608 035 $a(PQKBTitleCode)TC0000817873 035 $a(PQKBWorkID)10831476 035 $a(PQKB)11171853 035 $a(MiAaPQ)EBC1587746 035 $a(Au-PeEL)EBL1587746 035 $a(CaPaEBR)ebr10590657 035 $a(OCoLC)843055302 035 $a(IMF)CACPEE 035 $a(IMF)CACPEA 035 $a(EXLCZ)992670000000234725 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCentral America, Panama, and the Dominican Republic : $eChallenges Following the 2008-09 Global Crisis: Challenges Following the 2008-09 Global Crisis /$fMarco Piñón-Farah, Alejandro Lopez Mejia, M. (Mario) Garza, Fernando Delgado 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (462 p.) 300 $aIncludes index. 311 $a1-61635-378-3 311 $a1-4755-6873-8 327 $aCover Page; Title Page; Copyright Page; Contents; Structural Reforms; Fiscal Policy; Monetary Policy and Bank Supervision; Foreword; Overview; Abbreviations; Part I: Central America, Panama, And The Dominican Republic Before And During The Global Financial Crisis; 1 External Linkages and Economic Integration as of 2009; 2 The 2008-09 Global Crisis: Impact, Policy Responses, and the Role of the IMF; Part II Policy Challenges: A View From 2011; 3 The Challenge of Boosting Growth; 4 A Framework for Assessing the Level of Public Debt; 5 The Fiscal Position: Prospects and Options for Adjustment 327 $a6 Monetary Policy Frameworks7 Official Dollarization in El Salvador as an Alternative Monetary Framework; 8 The Effectiveness of Monetary Policy; 9 Financial Supervision and Macroprudential Policies; Contributors; Index; External Linkages and Economic Integration as of 2009; Footnotes; The 2008-09 Global Crisis: Impact, Policy Responses, and the Role of the IMF; The Challenge of Boosting Growth; A Framework for Assessing the Level of Public Debt; The Fiscal Position: Prospects and Options for Adjustment; Monetary Policy Frameworks 327 $aOfficial Dollarization in El Salvador as an Alternative Monetary FrameworkThe Effectiveness of Monetary Policy; Financial Supervision and Macroprudential Policies 330 3 $aCentral America, Panama, and the Dominican Republic coped well with the global financial crisis of 2008-09. The impact was generally less severe and shorter lived than in previous episodes, the balance of payments adjustment was orderly, and the stability of the financial system was not compromised. This resilience can be attributed to a large extent to the strengthening of the fiscal frameworks, monetary management, and financial reforms conducted in the years preceding the global crisis. Nevertheless, the region faces considerable challenges for the period ahead, including the need to raise medium term growth above historical levels and protect macroeconomic and financial stability. This book argues that meeting these challenges will have to come from within, in light of the anticipated modest demand growth from trade partners. Raising growth in the region will depend on the adoption of structural reforms that generate substantial productivity gains. Rebuilding fiscal space and securing debt sustainability will hinge on efforts to increase tax revenue and reorienting spending to social and investment priorities. In the non-officially dollarized economies, it will also be essential to strengthen the monetary policy frameworks to keep inflation low and increase exchange rate flexibility, and improve financial regulation and supervision. 410 0$aBooks 606 $aGlobal Financial Crisis, 2008-2009 606 $aBanks and Banking$2imf 606 $aFinance: General$2imf 606 $aMacroeconomics$2imf 606 $aMoney and Monetary Policy$2imf 606 $aPublic Finance$2imf 606 $aForeign Exchange$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aDebt$2imf 606 $aDebt Management$2imf 606 $aSovereign Debt$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aMonetary Systems$2imf 606 $aStandards$2imf 606 $aRegimes$2imf 606 $aGovernment and the Monetary System$2imf 606 $aPayment Systems$2imf 606 $aTaxation, Subsidies, and Revenue: General$2imf 606 $aMonetary Policy$2imf 606 $aBanking$2imf 606 $aPublic finance & taxation$2imf 606 $aMonetary economics$2imf 606 $aFinancial services law & regulation$2imf 606 $aPublic debt$2imf 606 $aCentral bank policy rate$2imf 606 $aRevenue administration$2imf 606 $aMonetary policy frameworks$2imf 606 $aFinancial services$2imf 606 $aMonetary policy$2imf 606 $aDollarization$2imf 606 $aCurrencies$2imf 606 $aMoney$2imf 606 $aBanks and banking$2imf 606 $aDebts, Public$2imf 606 $aInterest rates$2imf 606 $aState supervision$2imf 606 $aRevenue$2imf 607 $aCentral America$xEconomic conditions 607 $aDominican Republic$2imf 615 0$aGlobal Financial Crisis, 2008-2009. 615 7$aBanks and Banking 615 7$aFinance: General 615 7$aMacroeconomics 615 7$aMoney and Monetary Policy 615 7$aPublic Finance 615 7$aForeign Exchange 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aDebt 615 7$aDebt Management 615 7$aSovereign Debt 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aMonetary Systems 615 7$aStandards 615 7$aRegimes 615 7$aGovernment and the Monetary System 615 7$aPayment Systems 615 7$aTaxation, Subsidies, and Revenue: General 615 7$aMonetary Policy 615 7$aBanking 615 7$aPublic finance & taxation 615 7$aMonetary economics 615 7$aFinancial services law & regulation 615 7$aPublic debt 615 7$aCentral bank policy rate 615 7$aRevenue administration 615 7$aMonetary policy frameworks 615 7$aFinancial services 615 7$aMonetary policy 615 7$aDollarization 615 7$aCurrencies 615 7$aMoney 615 7$aBanks and banking 615 7$aDebts, Public 615 7$aInterest rates 615 7$aState supervision 615 7$aRevenue 700 $aPiñón-Farah$b Marco$01484485 701 $aLopez Mejia$b Alejandro$01147222 701 $aGarza$b M. (Mario)$01484486 701 $aDelgado$b Fernando$0270115 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910785528303321 996 $aCentral America, Panama, and the Dominican Republic$93819123 997 $aUNINA