Download or read book Statement by the Managing Director on the Independent Evaluation Office Report on Growth and Adjustment in IMF Supported Programs written by International Monetary Fund. Independent Evaluation Office and published by INTERNATIONAL MONETARY FUND. This book was released on 2021-09-09 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: Statement by the Managing Director on the Independent Evaluation Office Report on Growth and Adjustment in IMF-Supported Programs

Download or read book Statement by the Managing Director on the Independent Evaluation Office Report on Growth and Adjustment in IMF Supported Programs written by International Monetary Fund Independent Evaluation Office and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Statement by the Managing Director on the Independent Evaluation Office Report on Growth and Adjustment in IMF-Supported Programs.

Download or read book Growth and Adjustment in IMF Supported Programs written by International Monetary Fund. Independent Evaluation Office and published by International Monetary Fund. This book was released on 2021-09-09 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: This evaluation assesses how well IMF-supported programs helped to sustain economic growth while delivering adjustment needed for external viability over the period 2008–19. The evaluation finds that the Fund’s increasing attention to growth in the programs has delivered some positive results. Specifically, it does not find evidence of a consistent bias towards excessive austerity in IMF-supported programs. Indeed, programs have yielded growth benefits relative to a counterfactual of no Fund engagement and boosted post-program growth performance. Notwithstanding these positive findings, program growth outcomes consistently fell short of program projections. Such shortfalls imply less protection of incomes than intended, fuel adjustment fatigue and public opposition to reforms, and jeopardize progress towards external viability. The evaluation examines how different policy instruments were applied to support better growth outcomes while achieving needed adjustment. Fiscal policies typically incorporated growth-friendly measures but with mixed success. Despite some success in promoting reforms and growth, structural conditionalities were of relatively low depth and their potential growth benefits were not fully realized. Use of the exchange rate as a policy tool to support growth and external adjustment during programs was quite limited. Lastly, market debt operations were useful in some cases to restore debt sustainability and renew market access, yet sometimes were too little and too late to deliver the intended benefits. The evaluation concludes that the IMF should seek to further enhance program countries’ capacity to sustain activity while undertaking needed adjustment during the program and to enhance growth prospects beyond the program. Following this conclusion, the report sets out three recommendations aimed at strengthening attention to growth implications of IMF-supported programs, including the social and distributional consequences.

Download or read book Statement by the Managing Director on the Independent Evaluation Office Report on IMF Response to the Financial and Economic Crisis written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-10-21 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Download or read book Statement by the Managing Director on the Independent Evaluation Office Report on Recurring Issues from a Decade of Evaluation written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-11-06 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Statement by the Managing Director on the Independent Evaluation Office Report on The IMF and Capacity Development Executive Board Meeting September 12 2022 written by International Monetary and published by International Monetary Fund. This book was released on 2022-10-04 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Follow Up on the Recommendations of the Independent Evaluation Office Report on Fiscal Adjustment in IMF Supported Programs written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2004-10-02 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL

Download or read book Statement by the Managing Director on the Independent Evaluation Office Report on IMF Engagement with Small Developing States Executive Board Meeting May 6 2022 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2022-05-17 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: The report and its recommendations should also be careful to not impinge upon areas that are still unfolding, such as the RST, crisis response, and CD provision, to avoid unnecessary duplication of efforts and ensure that a coherent and evenhanded framework is in place. I offer qualified and/or partial support to the recommendations, as discussed below, to serve better our SDS members.

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 Statement by the Managing Director on the Independent Evaluation Office Report on the IMF and Fragile States written by International Monetary Fund and published by International Monetary Fund. This book was released on 2018-04-03 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Statement by the Managing Director on the Independent Evaluation Office Report on the IMF Advice on Unconventional Monetary Policies written by International Monetary Fund and published by International Monetary Fund. This book was released on 2019-06-14 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: I welcome the report of the Independent Evaluation Office (IEO) on the IMF Advice on Unconventional Monetary Policies (UMP). The report recognizes that the Fund’s engagement on UMP since the Global Financial Crisis has been wide-ranging and, in many respects, impressive. The report offers valuable insights on how to further improve the timeliness and value added of the IMF’s advice on UMP. Accordingly, I broadly support the general thrust of IEO’s recommendations, which are helpful in informing Management’s consideration of how to push forward the Fund’s work in this area.

Download or read book Statement by the Managing Director on the Independent Evaluation Office Report on Governance of the IMF written by International Monetary Fund and published by International Monetary Fund. This book was released on 2018-09-27 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Statement by the Managing Director on the Independent Evaluation Office s Report on the IMF and Social Protection written by International Monetary Fund and published by International Monetary Fund. This book was released on 2017-07-24 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Statement by the Managing Director on the Independent Evaluation Office Report on Self Evaluation at the IMF An IEO Assessment Executive Board Meeting September 18 2015 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-03-09 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Statement by the Managing Director on the Independent Evaluation Office Report on the Evolving Application of the IMF s Mandate written by International Monetary Fund and published by International Monetary Fund. This book was released on 2024-06-18 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Progress Report to The IMFC on The Activities of The Independent Evaluation Office of The IMF written by International Monetary Fund. Independent Evaluation Office and published by International Monetary Fund. This book was released on 2024-04-19 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 2023 Annual Meetings, the IEO has continued making progress on the two ongoing evaluations and will launch a new evaluation—on IMF Advice on Fiscal Policy—targeted for completion in the second half of 2025. The IEO has collaborated with staff on the 13th Periodic Monitoring Report (PMR) and the management implementation plans (MIPs) that follow up on the Board-endorsed recommendations of the completed evaluations of The IMF and Capacity Development and The IMF’s Emergency Response to the COVID-19 Pandemic. The external evaluation of the IEO is expected to be completed by mid-2024.

Download or read book Statement by the Managing Director on the Independent Evaluation Office Report on The IMF s Emergency Response to the COVID 19 Pandemic written by International Monetary Fund and published by International Monetary Fund. This book was released on 2023-03-20 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.