On September 30, the IIF submitted a response to the FSB Consultation Report on the evaluation of the too-big-to-fail reforms.
The CEE-4 will likely experience relatively moderate GDP contractions. Fiscal and monetary stimulus measures support private consumption. Despite rising COVID-19 cases, major lockdowns are unlikely to occur. Medium-term growth prospects remain promising across the region.
This briefing note summarizes and captures some reflections from the very thought-provoking remarks from David Hardoon, Senior Advisor for Data and Artificial Intelligence at Union Bank of the Philippines, during the IIF Digital Interchange: the Global Dialogue on Digital Finance.
Based on engagement with a group of global banks, we have developed this TCFD Playbook to serve as a resource for firms at different stages on their journey toward fully aligned and comprehensive TCFD reporting.
On September 23 the IIF Insurance Working Group submitted the Insurance Working Group filed a response to the EIOPA Issues Paper on Shared Resilience Solutions for Pandemics.
The IIF submitted a comment letter to the International Accounting Standards Board (IASB) Exposure Draft ED/2019/7 General Presentation and Disclosures.
While a U.S. shift towards renewable energy has been slow to date, the sector is poised for significant growth. Strong policies are needed to accelerate the energy transition to mitigate adverse effects of climate change on the labor market.
We expect the economy to contract by 5.2% in 2020 and grow by 2.3% in 2021, driven mainly by the non-oil private sector. The Kingdom responded to COVID-19 and the plunge in oil prices with major fiscal consolidation, but deep structural reforms are needed to raise potential non-oil growth.
This briefing note on digital inclusion examines the use of digitalization, digital identity, and changing infrastructures to promote a more inclusive economy.
Many EM central banks started QE-like programs at the height of the COVID-19 crisis. This coincided with questions arising with respect to the financing of widening deficits. However, actual government bond purchases remain limited so far, including in Asia. Domestic investors appear to have stepped in to buy up additional sovereign issuance.
We remain strongly supportive of the intent behind the DSSI. However, we also recognize that the underlying premise may have changed—the issues in some countries are no longer temporary liquidity problems, but rather more fundamental solvency concerns. This letter sets out three key points which we believe are crucial.
Turkey’s current account balance will shift to a sizable deficit in 2020. Meanwhile, non-residents remain reluctant to finance the external gap. Residents’ strong FX demand adds to depreciation pressure on the Lira. Falling reserves constrain the CBRT’s ability to provide further stimulus.
The economy has been adapting and digitalizing rapidly in response to COVID-19, both in financial services and beyond. IIF economists and digital finance experts look forward at what this means not only in financial services but also for SMEs to keep pace with tech firms in a competitive eCommerce environment.
The first in a series of IIF briefing notes on data ethics, this note outlines useful case studies and practical strategies and techniques that financial services firms can implement to help ensure the ethical use of data in a rapidly digitizing world.
With only 10 years to go, emerging markets and low-income countries (LICs) are far off their 2030 SDG targets; Between 2011 and 2019, median public debt in LICs rose from 30% of GDP to 47%, and is expected to reach 54% in 2020.