Documents et rapports
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Unlocking the Potential of Viet Nam’s Capital Markets (anglais)
Viet Nam, one of the fastest growing economies in the world in the past two decades, is aiming to become a high-income country by 2045. The role of capital markets, as a key element of a financial system...
Type de document: Rapport Numéro du rapport: 187911 Date du document: 31 décembre 2023 Mode de publication: Disclosed Auteur: Kusuma,Ketut Ariadi,Sullivan,Matthew,Bango,Zsolt,Davis,Richard Mark,Zhao,Jing,Shindo,Tetsutaro,O'Reilly Gurhy,Bryan,Price, Will,Ngo,Quan Ha,Hang, Nguyen Le,Ta,Trang Minh
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Credit Worthy : ESG Factors and Sovereign Credit Ratings (anglais)
This paper forms part of a series of publications under the Global Program on Sustainability (GPS). The series is a knowledge product of GPS Pillar 3 with the objective to promote the use of high-quality...
Type de document: Rapport Numéro du rapport: 184774 Date du document: 4 septembre 2023 Mode de publication: Disclosed Auteur: Gratcheva,Ekaterina M.,O'Reilly Gurhy,Bryan,Skarnulis,Andrius,Stewart,Fiona Elizabeth,Wang,Dieter
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Could Sustainability-Linked Bonds Incentivize Lower Deforestation in Brazil’s Legal Amazon ? (anglais)
This paper proposes a new relative evaluation and benchmarking framework for performance linked financing instruments. It argues that the carrots and sticks of sustainability-linked bonds should not use...
Type de document: Document de travail de recherche sur les politiques Numéro du rapport: WPS10558 Date du document: 4 septembre 2023 Mode de publication: Disclosed Auteur: Wang,Dieter,O'Reilly Gurhy,Bryan,Hanusch,Marek,Kollenda,Philipp
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The Potential Implications of Economic and Social Rights for Sovereign Debt Investing (anglais)
This paper discusses both the relevance of economic and social rights (ESRs) for environmental, social, and governance (ESG) investing in the sovereign debt asset class and how to start incorporating these...
Type de document: Rapport Numéro du rapport: 182290 Date du document: 24 mai 2023 Mode de publication: Disclosed Auteur: Gratcheva,Ekaterina M.,O'Reilly Gurhy,Bryan,Wang,Dieter,Brook, Anne-Marie,Clay,Kenneth Chad,Randolph, Susan
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Policy Space and the Financial Sector in Emerging Market and Developing Economies : Early Observations from the Pandemic (anglais)
Global and domestic factors shape a country’s Fiscal and Monetary Policy Space (FMPS). In response to the COVID-19 crisis, many countries adopted unconventional measures to expand policy space, including...
Type de document: Rapport Numéro du rapport: 179757 Date du document: 31 janvier 2023 Mode de publication: Disclosed Auteur: Feyen,Erik H.B.,O'Reilly Gurhy,Bryan,Utz,Robert Johann
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Note d’Orientation sur le Développement des Marchés d’Obligations Souveraines en Monnaie Locale (français)
This guidance note was prepared by International Monetary Fund (IMF) and World Bank staff under a project undertaken with the support of grants from the financial sector reform and strengthening initiative...
Type de document: Publication Numéro du rapport: 173541 Date du document: 8 mai 2022 Mode de publication: Disclosed Auteur: Hashimoto,Hideo,Mooi,Yen Nian,Pedras, Guilherme,Roy, Arindam,Chung, Kay,Galeza,Tadeusz,Papaioannou,Michael G.,Katz,Peter,Bango,Zsolt,Gragnani,Jose Antonio,O'Reilly Gurhy,Bryan,Paladines,Cindy Elizabeth
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Nota de Orientación para el Desarrollo de Mercados de Bonos Públicos en Moneda Local (espagnol)
This guidance note was prepared by International Monetary Fund (IMF) and World Bank staff under a project undertaken with the support of grants from the financial sector reform and strengthening initiative...
Type de document: Publication Numéro du rapport: 173541 Date du document: 8 mai 2022 Mode de publication: Disclosed Auteur: Hashimoto,Hideo,Mooi,Yen Nian,Pedras, Guilherme,Roy, Arindam,Chung, Kay,Galeza,Tadeusz,Papaioannou,Michael G.,Katz,Peter,Bango,Zsolt,Gragnani,Jose Antonio,O'Reilly Gurhy,Bryan,Paladines,Cindy Elizabeth
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Addressing the Corporate Debt Overhang (anglais)
This White Paper considers the problem of corporate debt overhang and discusses the policy tools to address it. Corporate debt overhang describes the scenario in which a company’s debts are so great that...
Type de document: Rapport Numéro du rapport: 175596 Date du document: 28 février 2022 Mode de publication: Disclosed Auteur: Van Der Does De Willebois,Emile Johannes Marie,Jenkinson,Nigel Harrison,Menezes,Antonia Preciosa,Muro,Sergio Ariel,Rouillon,Adolfo,O'Reilly Gurhy,Bryan,Autru, Soren Lejsgaard
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Addressing the Corporate Debt Overhang (anglais)
This White Paper considers the problem of corporate debt overhang and discusses the policy tools to address it. Corporate debt overhang describes the scenario in which a company’s debts are so great that...
Type de document: Rapport Numéro du rapport: 172974 Date du document: 28 février 2022 Mode de publication: Disclosed Auteur: Opferkuch,Beulah Chelva,Van Der Does De Willebois,Emile Johannes Marie,Jenkinson,Nigel Harrison,Menezes,Antonia Preciosa,Muro,Sergio Ariel,Rouillon,Adolfo,O'Reilly Gurhy,Bryan,Søren Lejsgaard Autrup
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Geospatial ESG : The Emerging Application of Geospatial Data for Gaining 'Environmental’ Insights on the Asset, Corporate and Sovereign Level (anglais)
An ongoing challenge with Environmental, Social, and Governance (ESG) efforts is access to robust data. In response, commercial data providers are continually developing solutions to improve insight. Here...
Type de document: Rapport Numéro du rapport: 168898 Date du document: 24 février 2022 Mode de publication: Disclosed Auteur: Patterson,David H.,Schmitt,Susanne,Izquierdo,Pablo,Tibaldeschi,Paolo,Bellfield,Helen,Wang,Dieter,O'Reilly Gurhy,Bryan,d’Aspremont,Alexandre,Tello,Paola,Bonfils-Bierer,Claire,Brumby,Steven,Barabino,John,Volkmer,Nick,Zheng,Jingwen,Tayleur,Cath,D’Agnese,Frank A.,Armstrong D’Agnese, Julia
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Credit Worthy : ESG Factors and Sovereign Credit Ratings (anglais)
The increasing role of the financial sector in the move toward a more sustainable economic model continues apace. The Coronavirus (COVID-19) shock shone a light on the need for all society to correct course...
Type de document: Document de travail Numéro du rapport: 167995 Date du document: 1 janvier 2022 Mode de publication: Disclosed Auteur: Gratcheva,Ekaterina M.,O'Reilly Gurhy,Bryan,Skarnulis,Andrius,Stewart,Fiona Elizabeth,Wang,Dieter
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Guidance Note for Developing Government Local Currency Bond Markets (anglais)
This guidance note was prepared by International Monetary Fund (IMF) and World Bank Group staff under a project undertaken with the support of grants from the Financial Sector Reform and Strengthening...
Type de document: Document de travail Numéro du rapport: 157350 Date du document: 23 décembre 2021 Mode de publication: Disclosed Auteur: Bango,Zsolt,Gragnani,Jose Antonio,O'Reilly Gurhy,Bryan,Paladines,Cindy Elizabeth,Hashimoto,Hideo,Mooi,Yen Nian,Pedras,Guilherme,Roy,Arindam,Chung,Kay,Galeza,Tadeusz,Papaioannou,Michael G.,Katz,Peter
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Guidance Note for Developing Government Local Currency Bond Markets (anglais)
This guidance note was prepared by International Monetary Fund (IMF) and World Bank staff under a project undertaken with the support of grants from the financial sector reform and strengthening initiative...
Type de document: Publication Numéro du rapport: 173541 Date du document: 20 décembre 2021 Mode de publication: Disclosed Auteur: Hashimoto,Hideo,Mooi,Yen Nian,Pedras, Guilherme,Roy, Arindam,Chung, Kay,Galeza,Tadeusz,Papaioannou,Michael G.,Katz,Peter,Bango,Zsolt,Gragnani,Jose Antonio,O'Reilly Gurhy,Bryan,Paladines,Cindy Elizabeth
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A New Dawn : Rethinking Sovereign ESG - Headline Messages (anglais)
With more than 40 trillion dollars of funds under sustainable management, environmental, social, and governance (ESG) investing is no longer niche investing, including in emerging market (EM) sovereign...
Type de document: Rapport Numéro du rapport: 161243 Date du document: 30 juin 2021 Mode de publication: Disclosed Auteur: Gratcheva,Ekaterina M.,O'Reilly Gurhy,Bryan,Wang,Dieter
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Paving the Path : Lessons from Chile’s Experiences as a Sovereign Issuer for Sustainable Finance Action (anglais)
Climate risks are on the rise globally. For emerging market countries such as Chile, these risks can manifest as an increased propensity for drought, wildfires, flood events, and landslides. As a result...
Type de document: Rapport Numéro du rapport: 159162 Date du document: 24 mai 2021 Mode de publication: Disclosed Auteur: Boitreaud,Sebastien-000379895,Gonzales,Luis,O'Reilly Gurhy,Bryan,Emery,Lincoln Teal,Larrain,Felipe B.,Paladines,Cindy Elizabeth
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A New Dawn – Rethinking Sovereign ESG (anglais)
Environmental, social, and governance (ESG) investing is quickly becoming ordre du jour in sovereign debt investing. There remains, however, lack of clarity around frameworks for scoring sovereign ESG...
Type de document: Rapport Numéro du rapport: 160093 Date du document: 20 mai 2021 Mode de publication: Disclosed Auteur: Gratcheva,Ekaterina M.,O'Reilly Gurhy,Bryan,Emery,Teal,Wang,Dieter,Oganes,Luis E.,Linzie,Jarrad K.,Harvey,Lydia,Marney,Katherine,Murray,Jessica,Rink,Rupert
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Riding the Wave : Navigating the ESG Landscape for Sovereign Debt Managers (anglais)
The world is on an unsustainable path. Financial sector participants are becoming more conscious of the impact of their economic, social and environmental footprint. As the investor community makes progress...
Type de document: Rapport Numéro du rapport: 153833 Date du document: 27 octobre 2020 Mode de publication: Disclosed Auteur: Boitreaud,Sebastien-000379895,Gratcheva,Ekaterina M.,O'Reilly Gurhy,Bryan,Paladines,Cindy Elizabeth,Skarnulis,Andrius
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COVID-19 and Corporate Balance Sheet Vulnerabilities : A Simple Stress-Test Approach (anglais)
This paper conducts a simple stress test to gauge the ability of listed nonfinancial corporates to withstand shocks to earnings and receivables. It targets two basic accounting ratios that capture a firm’s...
Type de document: Document de travail de recherche sur les politiques Numéro du rapport: WPS9324 Date du document: 20 juillet 2020 Mode de publication: Disclosed Auteur: Feyen,Erik H.B.,Dancausa,Fernando,O'Reilly Gurhy,Bryan,Nie,Ou
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Staff Note for the G20 International Financial Architecture Working Group (IFAWG) : Recent Developments On Local Currency Bond Markets In Emerging Economies (anglais)
At the Cannes Summit in 2011, the G20 launched an initiative to prepare an action plan for the development of local currency bond markets (LCBMs). Since then, the IMF and the World Bank have produced brief...
Type de document: Document de travail Numéro du rapport: 145551 Date du document: 27 janvier 2020 Mode de publication: Disclosed Auteur: Silva,Anderson Caputo,O'Reilly Gurhy,Bryan,Carvajal,Ana Fiorella,Paladines,Cindy Elizabeth,Jonasson,Thordur,Cohen,Charles,Mooi,Yen Nian,Chung,Kay,Papaioannou,Michael G.
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Capital Markets Development : A Primer for Policymakers (anglais)
The COVID-19 pandemic adds further challenges to the development of capital markets. For many emerging markets and developing economies challenges have intensified because of (i) the deterioration in the...
Type de document: Rapport Numéro du rapport: 162153 Date du document: 1 janvier 2020 Mode de publication: Disclosed Auteur: Carvajal,Ana Fiorella,Nerlich,Anica,O'Reilly Gurhy,Bryan,Demekas,Dimitrios