The report focuses on the role played by financial market infrastructures (FMIs) in maintaining and promoting financial stability in Japan. FMIs are important tools that contribute to the Japanese financial sector, especially in the domain of domestic financial stability. The oversight and...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

The report summarizes the assessment of Financial Sector Supervision and Regulation on Reports on the Observance of Standards and Codes (ROSC) on banking supervision, insurance supervision, and securities regulation of Cyprus. The report assesses that the financial system in Cyprus is in a...

This 2006 Article IV Consultation highlights that economic activity in Cyprus has recovered from a relatively weak performance in 2002–03. Declines in interest rates and strong capital inflows associated with Cyprus’s accession to the European Union in May 2004 spurred growth in...

This study reviews the structure of the Trust and Corporate Service Providers (TCSP) sector in the British Virgin Islands (BVI), focusing on their role in the offshore financial sector, and seeks to assess the legislative framework in place as well as effectiveness of implementation and...

This paper discusses key findings of the Detailed Assessment of Observance of the Committee on Payment and Settlement Systems–International Organization of Securities Commissions Principles for Financial Market Infrastructures(FMIs) in Singapore. Singapore has a well-developed payment,...

This paper presents key findings of the Second Review for Grenada under the Poverty Reduction and Growth Facility (PRGF). Grenada’s economic outlook has deteriorated somewhat, mainly reflecting the global financial turmoil and slowing global growth. Financial turmoil and the global...

This paper discusses key findings of the Third Review for Peru and Inflation Consultation Under the Stand-By Arrangement. All performance criteria for end-December 2007 and end-March 2008 were observed, but inflation in March exceeded the upper limit of the program’s consultation band...

This 2008 Article IV Consultation highlights that Lao People’s Democratic Republic’s (PDR) economy has performed well in recent years, owing to generally stable macroeconomic conditions and a rapidly expanding natural resource sector. Real GDP growth has averaged more than 7...

This technical note on Mexico’s Financial Sector Assessment Program update presents an overview of the risk management practices and stress test results carried out for the Mexican commercial banks and the insurance sector. The stress test results include the reporting of scenario...