Download or read book Implementation Plan in Response to the Board Endorsed Recommendations for the IEO Evaluation Report on Self Evaluation at the IMF written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2016-06-20 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper sets out Management’s response to the Independent Evaluation Office’s (IEO) evaluation report on Self-Evaluation at the IMF. The implementation plan proposes specific actions to address the recommendations of the IEO that were endorsed by the Board in its September 18, 2015 discussion of the IEO’s report, namely: (i) adopt a broad policy or general principles for self-evaluation in the IMF, including its goals, scope, outputs, utilization, and follow-up; (ii) give country authorities the opportunity to express their views on program design and results, and IMF performance; (iii) for each policy and thematic review, explicitly set out a plan for how the policies and operations it covers will be self-evaluated; (iv) develop products and activities aimed at distilling and disseminating evaluative findings and lessons. The implementation of some of these proposed actions is already underway. The paper also explains how implementation will be monitored.

Download or read book Implementation Plan in Response to the Board Endorsed Recommendations for the IEO Evaluation Report The IMF and Fragile States written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2018-10-04 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This management implementation plan (MIP) proposes actions to advance the Board-endorsed recommendations of the IEO evaluation “The IMF and Fragile States.” The actions outlined below would have resource implications. While some can be covered by reallocating resources or are already in the Work Program, others may require temporary funding; a review of staffing allocations to countries in fragile and conflict situations (FCS) might call for new permanent resources. The actions are broad in scope and self-reinforcing in effect if adopted as a package. They include: - Message of high-level commitment: Reflecting the actions of this MIP, a Management statement underscoring a strengthened institutional commitment to support FCS accompanies the MIP for Executive Board and IMFC endorsement. - An effective institutional mechanism: A high-level interdepartmental FCS Committee that reports to and seeks guidance in a formal meeting with management twice a year, will be established. The Committee will be tasked to analyze internal and external coordination issues in FCS and propose new ways tostrengthen engagement. An interdepartmental Technical Taskforce will support the Committee and report on progress in implementing this MIP, including through a Board paper on Review of FCS Engagement at end-2020. - Country engagement strategies: FCS teams will develop country engagement strategies that, drawing on relevant external expertise, will explicitly allow for thesocial and political context and the factors underpinning fragility; and lay the basis for full integration of capacity development (CD) with surveillance and lending. - Providing more sustained financial support: Staff is reviewing the lending toolkit for low-income countries to provide more tailored and flexible support, including for FCS, while ensuring uniformity of treatment. Staff will report on efforts to support FCS with protracted arrears to the Fund in the upcoming reviews of overdue financial obligations. - Practical steps to increase the impact of its CD support: Measures already in train will be complemented by the forthcoming Capacity Development (CD) Strategy Review’s assessment of initiatives to better integrate CD and Surveillance, including in FCS. Staff will also review the experience with provision of statistical and financial CD in FCS. And consideration will be given to establishing a FCS multi-donor trust fund or another suitable financing vehicle to address unmet needs for long-term experts. - Human Resources (HR) issues: The forthcoming phase of the HR Strategy will look into strategic workforce and career planning, including recruitment, and will consider actions to ensure that the Fund has appropriate staff expertise and experience to work effectively in fragile states. This will include the introduction of a “career” playbook that provides incentives for staff to be more responsive to the needs of the Fund in FCS. Adequacy of staffing allocations to FCS missions will be reviewed to ensure evenhanded treatment of the membership. Staff training on FCS will also be stepped up."

Download or read book Implementation Plan in Response to the Board Endorsed Recommendations from the IEO Evaluation Report on IMF Engagement with Small Developing States written by International Monetary Fund and published by International Monetary Fund. This book was released on 2023-03-24 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a Management Implementation Plan (MIP) with actions to take forward the Board-endorsed recommendations from the Independent Evaluation Office (IEO)'s report on IMF Engagement with Small Developing States (SDS). The actions in the MIP are broad in scope, touching on all modalities of the Fund's engagement with SDS, and seek to be comprehensive, self-reinforcing, cost-effective, and designed to be adopted as a package. The MIP aims to support a targeted and effective recalibration of engagement with SDS; enhance IMF's surveillance and capacity development in SDS members; strengthen the Fund's lending engagement with SDS, in line with the applicable policy frameworks; and secure an effective, well-tailored and more continuous staff presence in SDS.

Download or read book Implementation Plan in Response to the Board Endorsed Recommendations for the IEO Report Behind the Scenes with Data at the IMF written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2016-10-27 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper sets out Management’s response to the Independent Evaluation Office’s (IEO) report entitled Behind the Scenes with Data at the IMF: An IEO Evaluation. The implementation plan proposes specific actions to address the recommendations of the IEO that were endorsed by the Board in its March 17, 2016 discussion of the IEO’s report, namely: (i) develop a long-term strategy for data and statistics at the Fund; (ii) define and prioritize the Fund’s data needs and support data provision by member countries accordingly; (iii) reconsider the role and mandate of the Statistics Department; (iv) reexamine the staff’s structure of incentives in the area of data management; (v) make clear the limits of IMF responsibility regarding the quality of disseminated data, and clarify the distinction between “IMF data” and “official data.” The implementation of some of these proposed actions is already underway. The paper also explains how implementation will be monitored.

Download or read book Implementation Plan in Response to Board Endorsed Recommendations for the IEO Evaluation of Research at the IMF Relevance and Utilization written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2012-10-23 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a forward-looking implementation plan for the above-cited Independent Evaluation Office (IEO) report. During the Board discussion, Executive Directors noted that the report “provides a balanced assessment of the quality, relevance, management, and utilization of IMF research” and “were particularly encouraged by the overall finding that a large number of IMF analytical papers are of high quality, widely read, and appreciated by country authorities and the research community.” At the same time, they noted the finding that “IMF research is of uneven quality and perceived to be message driven.” Directors therefore saw scope for “enhancing the relevance and technical quality of the analytical work, openness to alternative points of view, and coordination of research activities across the institution.”

Download or read book Implementation Plan in Response to the Board Endorsed Recommendation from the IEO Evaluation On IMF and Capacity Development written by International Monetary Fund. Institute for Capacity Development and published by International Monetary Fund. This book was released on 2023-05-30 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Management Implementation Plan (MIP) proposes actions in response to the Board-endorsed recommendations provided by the Independent Evaluation Office (IEO)’s report on IMF and Capacity Development (CD). Staff has already begun addressing some of the IEO recommendations and several of the actions proposed in this MIP reflect initiatives in train. Resource implications are therefore expected to be manageable in the near term as these actions have mostly been incorporated into departmental work plans and budgets for fiscal year (FY) 2024. Medium-term resource implications will be discussed in the context of the FY 2025-FY 2026 medium-term budget proposals.

Download or read book Implementation Plan in Response to The Board Endorsed Recommendations From The IEO Evaluation Report on IMF Advice on Unconventional Monetary Policies written by International Monetary Fund and published by International Monetary Fund. This book was released on 2020-04-23 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Management Implementation Plan was prepared before COVID-19 became a global pandemic and resulted in unprecedented strains in global trade, commodity, and financial markets. The actions in this plan and their timeline, therefore, do not reflect the implications of these developments and related policy priorities. The actions aim to: Strengthen in-house expertise on monetary policy; Deepen the work on UMP and related policies; Further strengthen financial spillover analysis; Explore ways to enhance the Fund’s traction.

Download or read book Implementation Plan in Response to the Board Endorsed Recommendations from the IEO Evaluation Report on IMF Advice on Unconventional Monetary Policies written by International Monetary Fund and published by International Monetary Fund. This book was released on 2020-05-22 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Management Implementation Plan was prepared before COVID-19 became a global pandemic and resulted in unprecedented strains in global trade, commodity and financial markets. The actions in the plan and their timeline, therefore, do not reflect the implications of these developments and related policy priorities. This MIP includes a package of self-reinforcing actions that aim to: • Strengthen in-house expertise on monetary policy • Deepen the work on UMP and related policies • Further strengthen financial spillover analysis • Explore ways to enhance the Fund’s traction

Download or read book Implementation Plan in Response To The Board Endorsed Recommendations From The IEO Evaluation Report On IMF Collaboration With The World Bank On Macro Structural Issues written by International Monetary and published by International Monetary Fund. This book was released on 2021-10-12 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Management Implementation Plan (MIP) focuses on further strengthening collaboration between the IMF and the World Bank on strategic macro-structural issues. In macro-structural areas, the Fund and the Bank have complementary roles. The Bank provides structural and development-focused assessments and recommendations, while the Fund focuses on integrating macro relevant structural issues in the macroeconomic frameworks and policies. In some areas, including financial sector and public debt sustainability assessments, Bank-Fund collaboration modalities are well established. In other areas, such as climate change, Fund staff is developing comprehensive strategies on how the IMF can step up its engagement and collaboration with external partners, including with the World Bank, to better serve its membership. This MIP proposes concrete steps aimed at further enhancing: • Bank-Fund collaboration on strategic macro-structural issues, with an initial focus on the climate workstream; • Fund staff’s incentives for collaboration with external partners, including the Bank • Access to and exchange of information and knowledge between Bank and Fund staff.

Download or read book Seventh Periodic Monitoring Report on the Status of Implementation Plans in Response to Board Endorsed IEO Recommendations written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-09 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Seventh PMR includes: (i) a discussion of progress made over the last year on the actions corresponding to four Management Implementation Plans (MIPs) that were classified as still “in progress” in the previous PMR; and (ii) an assessment of the progress made in achieving the high-level objectives in three areas directly related to those MIPs. In addition, an update on substantive issues related to five older MIPs agreed since 2007 is provided at the end of the report. Three new evaluations have been completed by the IEO since March 2014. In July and August 2015, Management issued the MIPs in response to these evaluations. Given that only a short time has passed since their completion, progress in addressing the actions contemplated in those MIPs will be discussed in the next PMR.

Download or read book Implementation Plan in Response to Board Endorsed Recommendations for the IEO Evaluation of International Reserves IMF Concerns and Country Perspectives written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2013-03-21 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes Management’s response to the IEO’s Evaluation of International Reserves—IMF Concerns and Country Perspectives. The proposed implementation plan focuses on those recommendations that are not already being addressed by other recent Fund initiatives, and include: (i) a successor paper on reserve adequacy, which will review the work contained in the Fund’s 2011 Assessing Reserve Adequacy paper and develop additional and updated guidance where needed; (ii) the preparation of a staff guidance note for assessing adequacy; and (iii) additional engagement on reserve issues with members, the private sector, and academics.

Download or read book Implementation Plan in Response to the Board Endorsed Recommendations for the IEO Evaluation Report of IMF Response to the Financial and Economic Crisis written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-07-12 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper sets out Management’s response to the Independent Evaluation Office’s (IEO) evaluation of IMF Response to the Financial and Economic Crisis. The implementation plan proposes specific actions focusing on the three of the four recommendations that received broad support from the Executive Board, namely (i) ensuring that the IMF as a quota-based institution has sufficient resources to contribute to future crisis resolution; (ii) developing guidelines for structuring engagements with other organizations, and (iii) consolidating and simplifying the current framework to identify and assess risks and vulnerabilities. Some of the proposed actions to address the Board-endorsed IEO recommendations are underway as part of the 2014 Triennial Surveillance Report (TSR) Action Plan, the FY2016–18 Medium-Term Budget and the ongoing efforts to ratify the 2010 Quota and Governance Reforms. The paper also explains how implementation will be monitored.

Download or read book Eleventh Periodic Monitoring Report on The Status of Management Implementation Plans In Response To Board Endorsed IEO Recommendations written by International Monetary and published by International Monetary Fund. This book was released on 2021-11-30 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Eleventh Periodic Monitoring Report (PMR) on the Status of Management Implementation Plans (MIPs) in Response to Board-Endorsed Independent Evaluation Office (IEO) Recommendations assessed the progress made over the past 18 months on 72 actions contained in 10 MIPs. Significant progress has been made with the implementation of management actions, despite challenges that have arisen from the ongoing COVID-19 pandemic. Overall, 29 of the 72 actions for which implementation progress is assessed in the Eleventh PMR were deemed to have been satisfactorily implemented, while 35 remain open, and eight actions are being reformulated in line with the Board-approved triage framework for long-standing open actions. Despite the effect of reprioritization to make space for the urgent needs of the membership resulting from the pandemic, the pace of implementation observed in the Eleventh PMR, with the 29 actions closed, significantly exceeds the previous trend of about 15 implemented actions per year. Of the 35 open actions, 16 are more than one year past their implementation due dates. The reprioritization of activities owing to the COVID-19 pandemic and resource constraints on account of several years of flat budgets led to delays in the implementation of several actions, partly because of the postponement of important reviews.

Download or read book Eighth Periodic Monitoring Report on the Status of Implementation Plans in Response to Board Endorsed IEO Recommendations written by International Monetary Fund and published by International Monetary Fund. This book was released on 2017-06-23 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monitoring Report (PMR) on the Status of Management Implementation Plans (MIPs) in Response to Board-Endorsed IEO Recommendations assesses the progress made over the last year on actions contained in the four MIPs arising from recent IEO evaluations, and another four for which individual management actions were classified as still “in progress” in the Seventh PMR. Overall, 34 of the 77 actions included in the eight MIPs covered in this PMR remain open. Progress on the actions envisaged in the management implementation plans has been somewhat uneven, with more progress being made on the most recent MIPs. Of the 19 actions that have been implemented over the past year, only three relate to the older management actions. Many of the older actions are more broadly worded, and in many instances have no clear timetable. The actions that are progressing more slowly also tend to involve fundamental changes to institutional culture and practices, and therefore require a continuous, long-term effort. In spite of the slower progress on the older actions, significant advances have been made in several key areas. These include: Fund-wide risk analysis and management; the mainstreaming of macro financial surveillance; training on financial sector topics and macro forecasting; acknowledgement, discussion, and dissemination of information on IMF forecasts; the shift towards increasing reliance on quota resources, relative to borrowing; and the approval of the new Statement of Principles and Best Practices in Self-Evaluation. In addition, the 2015 Staff Survey showed significant improvements in several indicators related to the Fund’s internal culture and institutional values. Overall, management and staff appear committed to ensuring that open actions remain on track. Progress on all open actions will be assessed in future PMRs.

Download or read book Implementation Plan in Response to The Board Endorsed Recommendations from The IEO Evaluation Report on Growth and Adjustment in IMF Supported Programs written by International Monetary and published by International Monetary Fund. This book was released on 2022-05-19 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This management implementation plan (MIP) proposes actions in response to the Independent Evaluation Office (IEO)’s report on growth and adjustment in IMF-supported programs. The full implementation of the MIP package will help ensure that, at a time when many countries face strong headwinds, IMF-supported programs not only deliver necessary adjustment to address balance of payments needs but also pay greater attention to their growth effects. While the policy-related deliverables are already incorporated into current departmental work plans and budgets, the operational implementation of these recommendations may require mobilizing additional resources.

Download or read book The International Monetary Fund and the Learning Organization written by Moisés J. Schwartz and published by International Monetary Fund. This book was released on 2017-01-03 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: The benefits of independent evaluation in international financial institutions have long been recognized. However, independent evaluation in these organizations is of increased relevance during uncertain times that call for more credible and legitimate institutions. While evaluation has long played a function in the IMF, and its role has expanded substantially with the creation of the IEO, independent evaluation has yet to take on a role within the IMF that fully reflects its potential contribution. A strong global economy requires a strong IMF, and a strong IMF requires a strong independent evaluation culture and practice. The establishment of the IEO was only the start of a process that still needs to be fostered and cultivated. Successful independent evaluation is important for the IMF to be perceived as legitimate and credible—and to achieve it, the independent evaluation function needs to be further integrated in the learning process and culture of the Fund. Independent evaluation has played a significant role in contributing to the improvement of the IMF, but the pending challenge is for the IMF and the IEO to create a shared culture that fully embraces the purpose and mission of the IEO, and the learning opportunities offered by independent evaluation. The IMF’s organizational culture has a profound role to play in prompting actions to make learning from independent evaluation a more vibrant element of the Fund’s activities. This book calls on IMF management to take a more active role in instilling the positive value of independent evaluation across the organization and thus enabling independent evaluation to bring the IMF closer to what the literature defines as the ideal of a “learning organization.”

Download or read book Implementation Plan in Response to the Board Endorsed Recommendations for the IEO Evaluation of IMF Forecasts Process Quality and Country Perspective written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-09-18 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper sets out Management’s response to the Independent Evaluation Office’s (IEO) evaluation of IMF Forecasts: Process, Quality, and Country Perspectives. The implementation plan proposes specific actions to address the five recommendations that received broad support from the Executive Board, namely (i) maintaining the practice of commissioning external evaluations of IMF forecasts, (ii) enhancing the processes and incentives for learning from past forecast performance, (iii) extending guidance to desk economists on forecasting methodologies, (iv) publishing a description of the WEO forecasting process, and (iv) improving the public availability of data related to forecasts and outturns. Several of the proposed actions to address the Board-endorsed IEO recommendations have already been implemented following the Board discussion, while the implementation of some other actions is underway. This paper also explains how implementation will be monitored.