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Finding complementarities in IMF and RFA toolkits

Author

Listed:
  • Gong Cheng

    (ESM)

  • Dominika Miernik

    (ESM)

  • Teuta Turani

    (ESM)

Abstract
This work takes stock, using a comparative approach, of the existing IMF and RFA toolboxes, and the related lending policies. The paper first aims to serve as a manual on IMF and RFA lending toolkits and policies. It also highlights the similarities and differences across institutions to facilitate collective reflections on potential ways to enhance inter-institutional cooperation for common member state assistance. The paper recommends the IMF and RFAs leverage their instrument diversity, align policy frameworks where possible, and share experience in programme design as well as instrument and lending policy development.

Suggested Citation

  • Gong Cheng & Dominika Miernik & Teuta Turani, 2020. "Finding complementarities in IMF and RFA toolkits," Discussion Papers 8, European Stability Mechanism, revised 25 Oct 2021.
    • Handle: RePEc:stm:dpaper:8
    as

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    File URL: https://www.esm.europa.eu/sites/default/files/document/esmcomplementaritytools16042020.pdf
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    References listed on IDEAS

    as
    1. Ostry, Jonathan D. & Jeanne, Olivier & Zettelmeyer, Jeromin, 2008. "A Theory of International Crisis Lending and IMF Conditionality," CEPR Discussion Papers 7022, C.E.P.R. Discussion Papers.
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    10. Cheng, Gong & Lennkh, Rudolf Alvise, 2018. "RFAs' Financial Structures and Lending Capacities: a Statutory, Accounting and Credit Rating Perspective," MPRA Paper 95754, University Library of Munich, Germany.
    11. Gong Cheng & Dominika Miernik & Yisr Barnieh & Beomhee Han & Ika Mustika Sari & Faith Qiying Pang & Tigran Kostanyan & Alexander Efimov & Marie Houdart & Alexandra de Carvalho & Carlos Giraldo & Vivia, 2018. "IMF–RFA collaboration: motives, state of play, and way forward," Discussion Papers 4, European Stability Mechanism, revised 27 Oct 2021.
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    Cited by:

    1. Cheng, Gong & Lennkh, Rudolf Alvise, 2018. "RFAs' Financial Structures and Lending Capacities: a Statutory, Accounting and Credit Rating Perspective," MPRA Paper 95754, University Library of Munich, Germany.
    2. Evgeny Vinokurov & Artem Levenkov, 2021. "The Enlarged Global Financial Safety Net," Global Policy, London School of Economics and Political Science, vol. 12(1), pages 15-23, February.
    3. Gong Cheng, 2020. "The 2012 private sector involvement in Greece," Discussion Papers 11, European Stability Mechanism, revised 25 Oct 2021.
    4. Graciela Schiliuk & Tullio Buccellato & Jens Lapointe-Rohde & Georgios Palaiodimos & Habib Attia & Marthe Memoracion Hinojales & Catharine Kho & Gennady Vasiliev & Tigran Kostanyan & Alexandra de Carv, 2021. "Regional responses to the Covid-19 crisis: a comparative study from economic, policy, and institutional perspectives," Discussion Papers 18, European Stability Mechanism, revised 08 Nov 2021.

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