Summary

Supplementary Resources for IMF: New Arrangements to Borrow Enter into Force

APEC Summit: Members Resolve to Work Toward Early and Sustained Recovery from Crisis

Following are edited excerpts of the declaration made by the 21 members of the Asia-Pacific Economic Cooperation (APEC) forum at the end of their two-day summit in Kuala Lumpur on November 18.

From the Executive Board

Following is an excerpt of a recent IMF press release. The full text is available on the IMF's website (www.imf.org) under "news" or on request from the IMF's Public Affairs Division (fax: (202) 623-6278).

Address in Panama: Camdessus Stresses Sound Banking System Requires Strong and Transparent Framework

Financial Sector Soundness -Transparency in Policymaking -Regulating International Capital Flows

Conference on Single Currency: Speakers See Strong Prospects for Euro's Success, But Note Political, Economic Challenges Remain

Evolution of the Euro - Monetary Policy and an Independent Central Bank - Domestic Policy - Impact on Financial Markets, Industry, and Trade - New International Currency?

Kazakhstan Follows Pragmatic Path in Restructuring Its Banking System

Early Steps - Operational Restructuring, 1995-97 - Impact of Restructuring - Lessons Learned

Press Conference: Fischer Says Program Aims to Help Brazil to Strengthen Fiscal, Structural Reform Efforts

On November 13, the IMF briefed the press on the successfully concluded negotiations between Brazil and the IMF and what IMF Managing Director Michel Camdessus termed "a strong three-year program of economic and financial reform" (see IMF Survey, November 16, page 353, for the Managing Director's statement). IMF First Deputy Managing Director Stanley Fischer; Director of the Policy Development and Review Department Jack Boorman; and Deputy Director of the Western Hemisphere Department Teresa ...

Workshop on Sub-Saharan Africa: Discussions Center on Progress in Building Sound Banking Systems

Causes of Banking Sector Problems - Strengthening Supervision - Developing Regulatory Institutions - Promoting Competition - Indirect Instruments - Central Bank Accountability