The Acting Chair’s Summing Up - Independent Evaluation Office—Self Evaluation at the IMF—An IEO Assessment - Executive Board Meeting 15/89 - September 18, 2015 PDF Download
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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498344151
Category : Business & Economics
Languages : en
Pages : 3
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Book Description
Executive Directors welcomed the report by the Independent Evaluation Office (IEO) on self-evaluation at the IMF, the accompanying statement on the report by the Managing Director, and the IEO’s response. They were encouraged by the report’s findings that there is considerable self-evaluation at the IMF; that such self-evaluation is generally of high quality; and that it contributes usefully to reforms in policies and operations. At the same time, they also noted the finding that there are gaps and weaknesses in the Fund’s self-evaluation. Against this background, Directors considered the recommendations of the report to adopt an overall policy for self-evaluation; conduct self-assessments for every IMF-supported program; explicitly set out a plan for how policies and operations will be self-evaluated; and better disseminate lessons from self-evaluation. In this context, many Directors supported strengthening the current mechanisms for self-evaluation. More broadly, Directors agreed on the importance of having a clearly articulated approach to self-evaluation that builds on current processes, takes due account of resource constraints, and adapts over time to changing circumstances. Directors also concurred on the need to better disseminate lessons from self-evaluation. The implementation plan would be a first opportunity to reflect on how best to carry these considerations forward.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498344151
Category : Business & Economics
Languages : en
Pages : 3
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Book Description
Executive Directors welcomed the report by the Independent Evaluation Office (IEO) on self-evaluation at the IMF, the accompanying statement on the report by the Managing Director, and the IEO’s response. They were encouraged by the report’s findings that there is considerable self-evaluation at the IMF; that such self-evaluation is generally of high quality; and that it contributes usefully to reforms in policies and operations. At the same time, they also noted the finding that there are gaps and weaknesses in the Fund’s self-evaluation. Against this background, Directors considered the recommendations of the report to adopt an overall policy for self-evaluation; conduct self-assessments for every IMF-supported program; explicitly set out a plan for how policies and operations will be self-evaluated; and better disseminate lessons from self-evaluation. In this context, many Directors supported strengthening the current mechanisms for self-evaluation. More broadly, Directors agreed on the importance of having a clearly articulated approach to self-evaluation that builds on current processes, takes due account of resource constraints, and adapts over time to changing circumstances. Directors also concurred on the need to better disseminate lessons from self-evaluation. The implementation plan would be a first opportunity to reflect on how best to carry these considerations forward.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498349277
Category : Business & Economics
Languages : en
Pages : 130
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Book Description
The year was marked by difficult challenges and milestone achievements. To reinvigorate modest growth at a time of uncertainty about a complicated global economy, the IMF membership endorsed a three-pronged approach of monetary, fiscal, and structural policies to get the world economy back on a stronger and safer growth track. Highlights of the IMF’s work during the year included entry into effect of its quota and governance reforms approved in 2010, which increase the Fund’s core resources and make it more representative of the membership; commitments for increased financial support, policy advice, expertise, and training to help low-income developing countries achieve the U.N. Sustainable Development Goals; analysis of the international monetary system; inclusion of the Chinese currency in the basket of currencies that make up the Special Drawing Right; and policy advice on the economic repercussions of mass migration of refugees from Syria and other conflict-afflicted states. The IMF Annual Report, which covers the period May 1, 2015 to April 30, 2016, discusses all of these issues, plus a wide range of policy matters that the Executive Board addressed during the year.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498344240
Category : Business & Economics
Languages : en
Pages : 4
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Book Description
The thrust of the report’s recommendations to strengthen the institutional framework for self-evaluation, adapt it over time to changing circumstances, and better disseminate lessons from self-evaluation are well taken. I believe, however, that there is considerable scope to address these recommendations by refining and building on existing processes and initiatives already underway rather than by introducing substantial new architecture. I see limited value added relative to the costs in following through with the report’s two other key recommendations; namely, to conduct self-assessment for every IMF-supported program and to set out plans ex ante to self-evaluate every policy and thematic review.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 4
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Book Description
Executive Directors welcomed the report of the Independent Evaluation Office (IEO) on IMF Engagement with Small Developing States (SDS) and appreciated its insights and recommendations. They welcomed the report’s finding that the Fund has substantially stepped up its engagement with its SDS members over the past decade, and that SDS country officials generally considered Fund surveillance and capacity development (CD) activities of high quality and well-tailored to their needs.
Author: International Monetary Fund. Independent Evaluation Office
Publisher: International Monetary Fund
ISBN: 1475525141
Category : Business & Economics
Languages : en
Pages : 72
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Book Description
This volume book brings together nine background papers prepared for an evaluation by the IMF Independent Evaluation Office of “the IMF and the crises in Greece, Ireland, and Portugal.” It presents an authoritative work on the evolving relationship between the IMF and the euro area, a common currency area founded in 1999 consisting of advanced, highly integrated economies in Europe. The euro area, or any common currency area for that matter, has posed challenges to the IMF’s operational activities as its Articles of Agreement contain no provision for joint membership. The challenges became intense when a series of crises erupted in Greece, Ireland, and Portugal from 2009 to 2011, and the Fund was called upon to help intervene by offering its financing and crisis management expertise. The IMF found itself in uncharted territory where there was no precedent or established procedure. The chapters, many of which are prepared by prominent academics and former senior IMF officials who are thoroughly familiar with internal procedures, discuss various aspects of the IMF’s engagement with the euro area, including precrisis surveillance, how key decisions were made, how the IMF collaborated with European institutions, and how it designed and implemented its lending programs with the three crisis countries. The book gives prominence to governance-related issues, given the large voting share (of more than 20 percent) within the IMF of euro area members and the subsequent public perception that the IMF treated the euro area more favorably than it does developing and emerging market members. The approaches are both cross-cutting and country-based. Some chapters deal with issues related to the euro area as a whole, while others focus on how the Fund engaged with individual euro area countries. The book contains a statement on the IEO evaluation by the IMF Managing Director and a Summing Up of the Executive Board discussion held in July 2016.
Author: Moisés J. Schwartz
Publisher: International Monetary Fund
ISBN: 148430666X
Category : Business & Economics
Languages : en
Pages : 474
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Book Description
This volume book brings together nine background papers prepared for an evaluation by the IMF Independent Evaluation Office of “the IMF and the crises in Greece, Ireland, and Portugal.” It presents an authoritative work on the evolving relationship between the IMF and the euro area, a common currency area founded in 1999 consisting of advanced, highly integrated economies in Europe. The euro area, or any common currency area for that matter, has posed challenges to the IMF’s operational activities as its Articles of Agreement contain no provision for joint membership. The challenges became intense when a series of crises erupted in Greece, Ireland, and Portugal from 2009 to 2011, and the Fund was called upon to help intervene by offering its financing and crisis management expertise. The IMF found itself in uncharted territory where there was no precedent or established procedure. The chapters, many of which are prepared by prominent academics and former senior IMF officials who are thoroughly familiar with internal procedures, discuss various aspects of the IMF’s engagement with the euro area, including precrisis surveillance, how key decisions were made, how the IMF collaborated with European institutions, and how it designed and implemented its lending programs with the three crisis countries. The book gives prominence to governance-related issues, given the large voting share (of more than 20 percent) within the IMF of euro area members and the subsequent public perception that the IMF treated the euro area more favorably than it does developing and emerging market members. The approaches are both cross-cutting and country-based. Some chapters deal with issues related to the euro area as a whole, while others focus on how the Fund engaged with individual euro area countries. The book contains a statement on the IEO evaluation by the IMF Managing Director and a Summing Up of the Executive Board discussion held in July 2016.
Author: International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781513558073
Category : Business & Economics
Languages : en
Pages : 3
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Book Description
Executive Directors welcomed the report of the Independent Evaluation Office (IEO) on IMF Advice on Capital Flows. Directors appreciated the high quality of the report, and its thematic and background country studies. Directors welcomed the finding that the adoption of the Institutional View (IV), along with the development of other frameworks and additional tools, had represented a major advance in the Fund’s policy framework to provide systematic advice to member countries on the management of capital flows and capital account liberalization. Directors also noted the conclusion that, in its application, the Fund had generally followed the IV and other policy frameworks to ensure that the advice was consistent, tailored to country circumstances, and evenhanded across countries. Directors welcomed that capital flow management measures (CFMs) have generally not been used to substitute for warranted policy adjustments. Directors also welcomed the finding that most authorities broadly support the IV’s sequenced framework to capital account liberalization and appreciated the Fund’s specific advice in many cases, especially in the context of technical assistance. More recently, faced with the abrupt capital flow reversals during the COVID-19 crisis, Directors noted that emerging markets and developing economies generally followed a multi-pronged approach broadly consistent with the IV framework and made relatively little use of CFMs.
Author:
Publisher:
ISBN: 9781513538754
Category : Development banks
Languages : en
Pages : 48
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Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: International Monetary Fund. Independent Evaluation Office
Publisher: International Monetary Fund
ISBN: 147559951X
Category : Business & Economics
Languages : en
Pages : 68
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Book Description
The Independent Evaluation Office (IEO) was established by the IMF’s Executive Board in 2001. It provides objective and independent evaluation of issues related to the IMF. The IEO operates independently of IMF management and at arm’s length from the IMF Executive Board. For more information on the IEO’s activities, visit the IEO website: www.ieo-imf.org.
