International Monetary Fund (1 - 10 of 58 items)
Southeast Asia: Trends in U.S. and Chinese Economic Engagement
GAO-15-724: Published: Aug 13, 2015. Publicly Released: Aug 13, 2015.
View Chinese version of Highlights (PDF, 1 page).What GAO FoundChina has surpassed the United States in goods trade with Association of Southeast Asian Nations (ASEAN) countries and trades a similar amount of services, but U.S. investment exceeds reported Chinese investment. China surpassed the United States in goods trade with ASEAN countries in 2007. In 2014, China's total goods trade of $480 bi...
International Financial Reforms: U.S. and Other Jurisdictions' Efforts to Develop and Implement Reforms
GAO-14-261: Published: Apr 3, 2014. Publicly Released: Apr 3, 2014.
The United States has played an active role in helping to reform financial regulations to address weaknesses revealed by the 2007-2009 financial crisis. According to Treasury officials, during the acute phase of the crisis, the United States proposed elevating the Group of Twenty (G20) forum—representing 19 countries (including the United States) and the European Union—from the level of financ...
Iran: U.S. and International Sanctions Have Adversely Affected the Iranian Economy
GAO-13-326: Published: Feb 25, 2013. Publicly Released: Feb 25, 2013.
Since 2010, congressional legislation, such as the Comprehensive Iran Accountability, Sanctions, and Divestment Act of 2010 (CISADA), as well as a number of executive orders, have established additional U.S. financial sanctions targeting Iran. For example, CISADA authorized the imposition of sanctions on foreign financial institutions that facilitated certain activities or financial transactions b...
IMF: Planning for Use of Gold Sales Profits Under Way, but No Decision Made for Using a Portion of the Profits
GAO-12-766R: Published: Jul 26, 2012. Publicly Released: Jul 26, 2012.
The IMF is proceeding with its plan for creating an endowment for operations and increasing its resources for low-income country lending using the approximately $8 billion in gold sales profits it had projected earning from the 20092010 sales. First, the IMF is working to establish the approximately $7 billion endowment to partially fund IMF operations. The Board is expected to finalize the...
Low-Income Countries: International Financial Institutions Met Many Goals in Response to Financial, Food, and Fuel Crises, but Impact on Spending Difficult to Establish
GAO-11-832: Published: Sep 28, 2011. Publicly Released: Oct 26, 2011.
The 40 poorest countries in the world, known as low-income countries (LICs), have been negatively impacted by successive food, fuel, and financial crises since 2007. In response, international financial institutions (IFI), including the World Bank and International Monetary Fund (IMF), have taken actions to increase financial assistance for affected countries. Between 2008 and 2010, Congress appro...
Iraqi-U.S. Cost-Sharing: Iraq Has a Cumulative Budget Surplus, Offering the Potential for Further Cost-Sharing
GAO-10-304: Published: Sep 13, 2010. Publicly Released: Sep 13, 2010.
Since 2003, the United States has reported obligating $642 billion for U.S. military operations in Iraq and provided about $24 billion for training, equipment, and other services for Iraqi security forces. To assist Congress in overseeing efforts to encourage the Iraqi government to contribute more toward the cost of securing and stabilizing Iraq, this report provides information on (1) the amount...
International Monetary Fund: Lending Programs Allow for Negotiations and Are Consistent with Economic Literature
GAO-10-44: Published: Nov 12, 2009. Publicly Released: Nov 12, 2009.
The International Monetary Fund (IMF) has significantly increased its total committed lending to countries from about $3.5 billion in August 2008 to about $170.4 billion in August 2009, as countries have been severely affected by the global economic crisis. IMF-supported programs are intended to help countries overcome balance-of-payments problems, stabilize their economies, and restore sustainabl...
Developing Countries: The United States Has Not Fully Funded Its Share of Debt Relief, and the Impact of Debt Relief on Countries' Poverty-Reducing Spending Is Unknown
GAO-09-162: Published: Jan 26, 2009. Publicly Released: Jan 26, 2009.
In 1996, the Heavily Indebted Poor Countries (HIPC) Initiative was created to provide debt relief to poor countries that had reached unsustainable levels of debt. In 2005, the Multilateral Debt Relief Initiative (MDRI) expanded upon the HIPC Initiative by eliminating additional debt owed to four international financial institutions (IFI): the International Monetary Fund (IMF), World Bank's Interna...
Sovereign Wealth Funds: Publicly Available Data on Sizes and Investments for Some Funds Are Limited
GAO-08-946: Published: Sep 9, 2008. Publicly Released: Oct 6, 2008.
Sovereign wealth funds (SWF) are government-controlled funds that seek to invest in other countries. With new funds being created and many growing rapidly, some see these funds providing valuable capital to world markets, but others are concerned that the funds are not transparent and could be used to further national goals and potentially harm the countries where they invest. GAO plans to issue a...
Stabilizing and Rebuilding Iraq: Iraqi Revenues, Expenditures, and Surplus
GAO-08-1144T: Published: Sep 16, 2008. Publicly Released: Sep 16, 2008.
Iraq has an estimated 115 billion barrels of crude oil reserves--the third largest in the world. Oil export revenues are critical to Iraq's economy, accounting for over half of the country's gross domestic product and over 90 percent of revenues. This testimony discusses (1) Iraq's estimated revenues from 2005 through 2008, (2) Iraq's estimated expenditures from 2005 through 2008, (3) Iraq's finan...