Statement by the Managing Director on the Independent Evaluation Office Report on the IMF Financial Surveillance PDF Download

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Statement by the Managing Director on the Independent Evaluation Office Report on the IMF Financial Surveillance

Statement by the Managing Director on the Independent Evaluation Office Report on the IMF Financial Surveillance PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1513510215
Category : Business & Economics
Languages : en
Pages : 5

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Book Description
The IEO report provides a welcome opportunity to reflect on the IMF’s initiatives to expand and deepen its financial surveillance work in response to the Global Financial Crisis. In order to improve the relevance and traction of bilateral financial surveillance, the IMF needs to deepen financial and macrofinancial analysis, particularly in Article IV consultations, including by taking practical steps to better integrate Financial Sector Assessment Program analysis in Article IV consultations and by increasing financial skills and expertise among staff. The IMF should continue to work to enhance the impact of IMF multilateral surveillance by increasing rigor and transparency, and by deepening collaboration with international partners. On scaling-up the IMF’s work with the international regulatory agencies to assess the impact of reforms, the IMF has undertaken several assessments of different aspects of the reforms following the 2012 Financial Surveillance Strategy. Some of these have been conducted jointly with the Standard Setting Bodies.

Statement by the Managing Director on the Independent Evaluation Office Report on the IMF Financial Surveillance

Statement by the Managing Director on the Independent Evaluation Office Report on the IMF Financial Surveillance PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1513510215
Category : Business & Economics
Languages : en
Pages : 5

Get Book Here

Book Description
The IEO report provides a welcome opportunity to reflect on the IMF’s initiatives to expand and deepen its financial surveillance work in response to the Global Financial Crisis. In order to improve the relevance and traction of bilateral financial surveillance, the IMF needs to deepen financial and macrofinancial analysis, particularly in Article IV consultations, including by taking practical steps to better integrate Financial Sector Assessment Program analysis in Article IV consultations and by increasing financial skills and expertise among staff. The IMF should continue to work to enhance the impact of IMF multilateral surveillance by increasing rigor and transparency, and by deepening collaboration with international partners. On scaling-up the IMF’s work with the international regulatory agencies to assess the impact of reforms, the IMF has undertaken several assessments of different aspects of the reforms following the 2012 Financial Surveillance Strategy. Some of these have been conducted jointly with the Standard Setting Bodies.

Statement by the Managing Director on the Independent Evaluation Office Report on the Evolving Application of the IMF's Mandate

Statement by the Managing Director on the Independent Evaluation Office Report on the Evolving Application of the IMF's Mandate PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 7

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Book Description
This evaluation assesses the decision-making processes that guided the evolution of the application of the Fund's mandate, the criteria and principles used to operationalize engagement in newer policy areas, and the coherence of the Fund's framework for engaging with partners. It finds that the systematic widening of the Fund's areas of work is posing adaptation challenges, necessitating trade-offs, and overburdening staff within a context of budgetary and expertise constraints. The evaluation offers a framework for approaching these challenges that is centered on a trilemma that exposes the tension between the steady expansion of the Fund's scope of work, its limited resources, and the need to maintain the high quality and value-added of its policy advice. It identifies several problems within this framework, including the ad hoc decision-making process for engaging in newer policy areas, which lacks a longer-term strategic anchor. Furthermore, decisions on policies, resources, and risks were taken in a piecemeal manner, without due consideration for crossed effects. It also identifies several open questions regarding the depth and frequency of the Fund's engagement in newer policy areas and the lack of an institutional approach to Fund partnerships.The evaluation proposes classifying newer policy areas across a spectrum of recommended engagement, ranging from signaling their macrocriticality while leaving deeper assessments to other institutions, to in-depth high-frequency engagement. It also offers four main recommendations: (i) developing an inclusive Fund-wide institutional strategy for engagement in newer policy areas that better links decisions related to scope, resources, and risks; (ii) producing budget data that enables the tracking of Fund activities and operations by policy area; (iii) updating the 2022 Guidance Note for Surveillance to enhance the clarity of principles for engagement; and (iv) adopting a Board-approved high-level Statement of Principles for engagement with partners.

Statement by the Managing Director on the Independent Evaluation Office Report on IMF Response to the Financial and Economic Crisis

Statement by the Managing Director on the Independent Evaluation Office Report on IMF Response to the Financial and Economic Crisis PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498342647
Category : Business & Economics
Languages : en
Pages : 6

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Book Description
The Independent Evaluation Office (IEO) has produced a detailed report that provides valuable insights on how the IMF responded to the global financial and economic crisis. The analysis in the report is broadly balanced, and Managing Director welcomes the IEO’s finding that the IMF played an important role in the global response to the crisis, and broadly supports the report’s recommendations

Progress Report to the IMFC on the Activities of the Independent Evaluation Office of the IMF

Progress Report to the IMFC on the Activities of the Independent Evaluation Office of the IMF PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 149831029X
Category : Business & Economics
Languages : en
Pages : 3

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Book Description
Over the past six months, a key theme has been ensuring strong follow-up to IEO evaluations, a priority stressed by the recently competed External Evaluation of the IEO. Of particular note, the Managing Director has issued a statement highlighting actions planned to strengthen the IMF’s engagement with fragile states following our recent evaluation, and this statement is being presented to the IMFC for endorsement. In addition, the IEO has completed two updates of past evaluations, advanced work on two ongoing evaluations (on IMF financial surveillance and on IMF advice related to unconventional monetary policies), and is now considering its future work program in light of the External Evaluation.

Statement by the Managing Director on the Independent Evaluation Office Report on Recurring Issues from a Decade of Evaluation

Statement by the Managing Director on the Independent Evaluation Office Report on Recurring Issues from a Decade of Evaluation PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498343244
Category : Business & Economics
Languages : en
Pages : 4

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Book Description
The Managing Director welcomes the IEO's novel report, which identifies recurring issues from past evaluations and assesses progress in addressing them. The report's focus on organizational silos, attention to risks and uncertainty, country and institutional context, evenhandedness, and Executive Board guidance and oversight is appropriate given their relevance and importance for the effectiveness and credibility of IMF operations.

Statement by the Managing Director on the Independent Evaluation Office Report on The IMF and Capacity Development Executive Board Meeting September 12, 2022

Statement by the Managing Director on the Independent Evaluation Office Report on The IMF and Capacity Development Executive Board Meeting September 12, 2022 PDF Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 8

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Book Description
The IEO evaluation contains a wealth of analysis and background material that will be invaluable as staff embarks on the preparation of the 2023 CD Strategy Review. The overall assessment is very positive, highlighting the achievements authorities have made with the help of Fund CD and the value they continue to place on this area of Fund work. The report also acknowledges the significant strides that have been made in improving governance and management of CD in recent years.

Statement by the Managing Director on the Independent Evaluation Office Report on the IMF and Fragile States

Statement by the Managing Director on the Independent Evaluation Office Report on the IMF and Fragile States PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498308082
Category : Business & Economics
Languages : en
Pages : 7

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Book Description
I welcome the report of the Independent Evaluation Office (IEO) on the IMF and Fragile States. The report recognizes that the Fund has made important contributions in restoring macroeconomic stability, building core institutions, and catalyzing donor support across a diverse range of countries in fragile and conflict situations. The IEO’s analysis and findings provide a thorough stock-taking and resonate with staff. Accordingly, I broadly support the IEO’s recommendations to make the Fund’s engagement with countries in fragile and conflict situations more impactful.

Statement by the Managing Director on the Independent Evaluation Office Report on Governance of the IMF

Statement by the Managing Director on the Independent Evaluation Office Report on Governance of the IMF PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498309844
Category : Business & Economics
Languages : en
Pages : 3

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Book Description
I would like to thank the Independent Evaluation Office (IEO) for preparing this informative update on the 2008 report on governance of the IMF. It is reassuring that the Update recognizes the significant progress made in improving efficiency, accountability, and voice of the Fund’s main governance bodies, and I concur that the remaining challenges need our continued attention and collective commitment.

Statement by the Managing Director on the Independent Evaluation Office's Report on the IMF and Social Protection

Statement by the Managing Director on the Independent Evaluation Office's Report on the IMF and Social Protection PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498346626
Category : Business & Economics
Languages : en
Pages : 5

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Book Description
I welcome the report of the Independent Evaluation Office (IEO) on the IMF and Social Protection. This is an area in which the Fund has broadened its engagement in recent years, responding to the needs of the membership. The conclusion that I draw from the report—that the Fund has made strong progress—is therefore an encouraging one, even as I recognize that there is scope to do better. The IEO’s analysis and findings have much in common with recent work by Fund staff, while providing a broader perspective that is very valuable. Overall, I find the IEO’s recommendations for refining the Fund’s approach to social protection to be well-judged, and the proposals have my support.

Statement by the Managing Director on the Independent Evaluation Office Report on The IMF’s Emergency Response to the COVID-19 Pandemic

Statement by the Managing Director on the Independent Evaluation Office Report on The IMF’s Emergency Response to the COVID-19 Pandemic PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 5

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Book Description
As the evaluation notes, the Fund’s rapid response was not without costs and risks. The decision to provide extraordinary access, including through emergency financing, in the face of this unprecedented crisis has inevitably raised pressures on the Fund’s own, and its members’, balance sheets. Moreover, according to the report, some stakeholders did not feel adequately consulted in the initial weeks of the pandemic, staff experienced enormous work pressures, and in at least a few instances, national authorities did not perceive that the way policy guidance on 2 access was applied was entirely evenhanded. I am confident we can learn from the experience and do even better in the future; and I believe the IEO’s high-level recommendations will help us to do so.