IMF And World Bank Relations In Turkey

21 Pages 5182 Words

ve, after the financial crises of the late 1990s, IMF and the World Bank propose Financial Sector Assessment Program to evaluate member countries’ financial systems. The common goal of this program is to help member countries enhance their resistance to financial crises and contagion effect, to promote financial system safety and soundness and financial sector diversity. IMF and the World Bank aim to provide a sound framework for financial sector vulnerabilities, to strengthen the analysis of macroeconomic and financial stability issues, to help national financial authorities to develop well-developed policy responses (Hilbers, 2001).
The FSAP program has three main elements: These are;
1-an assessment of stability of the financial system (macroeconomic factors that affect financial system and the conditions of financial system that affect macroeconomic stability)
2-an assessment of the extent to which relevant financial sector standards, codes, and good practices are observed
3-an assessment of the financial sector’s reform and dev...