Download or read book Behind the Scenes with Data at the IMF written by International Monetary Fund. Independent Evaluation Office and published by International Monetary Fund. This book was released on 2016-04-16 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines whether the IMF has effectively leveraged an important asset: data. It finds that in general, the IMF has been able to rely on a large amount of data of acceptable quality, and that data provision from member countries has improved markedly over time. Nonetheless, problems with data or data practices have, at times, adversely affected the IMF’s surveillance and lending activities. The roots of data problems are diverse, ranging from problems due to member countries’ capacity constraints or reluctance to share sensitive data to internal issues such as lack of appropriate staff incentives, institutional rigidities, and long-standing work practices. Efforts to tackle these problems are piecemeal, the report finds, without a clear comprehensive strategy that recognizes data as an institutional strategic asset, not just a consumption good for economists. The report makes a number of recommendations that could promote greater progress in this regard.
Download or read book Behind the Scenes with Data at the IMF written by International Monetary Fund and published by . This book was released on 2016-11-03 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines whether the IMF has effectively leveraged an important asset: data. It finds that in general, the IMF has been able to rely on a large amount of data of acceptable quality, and that data provision from member countries has improved markedly over time. The report makes a number of recommendations that could promote greater progress in this regard.
Download or read book Behind the Scenes with Data at the IMF written by International Monetary Fund. Independent Evaluation Office and published by International Monetary Fund. This book was released on 2016-04-16 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines whether the IMF has effectively leveraged an important asset: data. It finds that in general, the IMF has been able to rely on a large amount of data of acceptable quality, and that data provision from member countries has improved markedly over time. Nonetheless, problems with data or data practices have, at times, adversely affected the IMF’s surveillance and lending activities. The roots of data problems are diverse, ranging from problems due to member countries’ capacity constraints or reluctance to share sensitive data to internal issues such as lack of appropriate staff incentives, institutional rigidities, and long-standing work practices. Efforts to tackle these problems are piecemeal, the report finds, without a clear comprehensive strategy that recognizes data as an institutional strategic asset, not just a consumption good for economists. The report makes a number of recommendations that could promote greater progress in this regard.
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 Overarching Strategy on Data and Statistics at the Fund in the Digital Age written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2018-03-20 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The first data and statistics strategy for the Fund comes at a critical time. A fast-changing data landscape, new data needs for evolving surveillance priorities, and persisting data weaknesses across the membership pose challenges and opportunities for the Fund and its members. The challenges emerging from the digital revolution include an unprecedented amount of new data and measurement questions on growth, productivity, inflation, and welfare. Newly available granular and high-frequency (big) data offer the potential for more timely detection of vulnerabilities. In the wake of the crisis, Fund surveillance requires greater cross-country data comparability; staff and authorities face the complexity of integrating new data sources and closing data gaps, while working to address the weaknesses noted by the IEO Report (Behind the Scenes with Data at the IMF) in 2016. The overarching strategy is to move toward an ecosystem of data and statistics that enables the Fund and its members to better meet the evolving data needs in a digital world. It integrates Fund-wide work streams on data provision to the Fund for surveillance purposes, international statistical standards, capacity development, and data management under a common institutional objective. It seeks seamless access and sharing of data within the Fund, enabling cloud-based data dissemination to support data provision by member countries (e.g., the “global data commons”), closing data gaps with new sources including Big Data, and improving assessments of data adequacy for surveillance to help better prioritize capacity development. The Fund also will work with policymakers to understand the implications of the digital economy and digital data for the macroeconomic statistics, including new measures of welfare beyond GDP."
Download or read book Implementation Plan in Response to The Executive Board Endorsed Categorization of Open Actions in Management Implementation Plans written by International Monetary Fund and published by International Monetary Fund. This book was released on 2022-06-30 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This management implementation plan (MIP) proposes eight reformulated actions that would benefit from further follow up, in line with the Board-approved Categorization of Open Actions in MIPs. The MIP aims to strengthening the continuity of the relationship between the Fund and member countries, enhancing knowledge sharing across successive country teams, improving incentives for sound data management, alleviating country authorities’ concerns about disclosure, and creating a more robust review process for working papers.
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 Ninth Periodic Monitoring Report on the Status of Implementation Plans in Response to Board Endorsed IEO Recommendations written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2018-10-26 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Ninth Periodic Monitoring Report (PMR) on the Status of Management Implementation Plans (MIPs) in Response to Board-Endorsed Independent Evaluation Office (IEO) Recommendations assesses the progress made over the last year on actions contained in two “new” MIPs arising from recent IEO evaluations, and another seven for which individual management actions were classified as “open” in the Eighth PMR. Overall, 42 of the 96 actions included in the Ninth PMR remain open, representing roughly the same proportion as the previous PMR. A 25 percent net increase in open management actions over the past year is accounted for by 24 new actions from two MIPs, and 16 actions that have been implemented over the period. There is positive traction on the last four MIPs, but older actions appear challenging to implement. Better progress has been made with the implementation of the actions contained in recent MIPs. Fourteen of the actions implemented since the Eighth PMR relate to MIPs approved after October 2015, while only two actions (out of 24) from earlier MIPs were implemented. Improvements in the follow-up process approved by the Board in October 2015 have contributed to speedier implementation of recent actions, but some challenges remain. There are lingering challenges with defining measures of success for numerous actions, but accountabilities are now clearer and many actions are at advanced stages at the time of the Board’s discussion of the MIPs. This PMR introduces indicators to support the process for resolving challenges with long-standing actions. Despite the slower progress with the older actions, significant advances have been made over the past year in several key areas. These include: protocols for engaging the IEO; risk management and analysis; the mainstreaming of macrofinancial surveillance; an overarching strategy on data and statistics; guidance on cooperation with other organizations, including Regional Financing Arrangements (RFAs); improvements in External Stability Assessments; and ongoing analytical work on surveillance and program, including macrostructural issues, emerging topics, and debt sustainability analysis. On the other hand, progress has been slower on macro forecasting, outward spillovers, and cross-country knowledge sharing."
Download or read book Thirteenth Periodic Monitoring Report on The Status of Management Implementation Plans in Response to Board Endorsed IEO Recommendations written by International Monetary Fund. Office of Internal Audit and published by International Monetary Fund. This book was released on 2023-12-08 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: Overall, progress has been made since the Twelfth PMR on actions in response to eight IEO evaluations, with the pace of implementation being faster on actions October 31, 2023 THIRTEENTH PERIODIC MONITORING REPORT 2 INTERNATIONAL MONETARY FUND contained in the MIP in Response to the Executive Board-Endorsed Categorization of Open Actions in Management Implementation Plans. It is also worth mentioning that many open actions depend on the implementation of some important reviews/key steps that are expected to be completed in or soon after December 2023, such as the Capacity Development (CD) Strategy Review, the issuance of a new CD Guidance Note, an update of the Small Developing States Staff Guidance Note (SDS-SGN), the Operational Guidance Note (OGN) on Program Design and Conditionality, and a Board paper on Bank-Fund collaboration.
Download or read book International Monetary Fund Annual Report 2016 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2016-09-26 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Categorization Of Open Actions In Management Implementation Plans written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2020-03-04 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper undertakes a triage of the backlog of open actions in Management Implementation Plans (MIPs) responding to recommendations by the Independent Evaluation Office (IEO), based on the Framework endorsed by the Board in March 2019.
Download or read book Tenth Periodic Monitoring Report On The Status Of Management 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 2020-03-04 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Tenth Periodic Monitoring Report (PMR) on the Status of Management Implementation Plans (MIPs) in Response to Board-Endorsed Independent Evaluation Office (IEO) Recommendations assesses the progress made over the last year on actions contained in 10 MIPs with open management actions.
Download or read book Twelfth Periodic Monitoring Report On The Status Of Management 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 2022-11-30 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: Twelfth Periodic Monitoring Report On The Status Of Management Implementation Plans In Response To Board-Endorsed IEO Recommendations
Download or read book Overarching Strategy on Data and Statistics at the Fund in the Digital Age written by International Monetary Fund. Strategy, Policy, and Review Department and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first data and statistics strategy for the Fund comes at a critical time. A fast-changing data landscape, new data needs for evolving surveillance priorities, and persisting data weaknesses across the membership pose challenges and opportunities for the Fund and its members. The challenges emerging from the digital revolution include an unprecedented amount of new data and measurement questions on growth, productivity, inflation, and welfare. Newly available granular and high-frequency (big) data offer the potential for more timely detection of vulnerabilities. In the wake of the crisis, Fund surveillance requires greater cross-country data comparability; staff and authorities face the complexity of integrating new data sources and closing data gaps, while working to address the weaknesses noted by the IEO Report (Behind the Scenes with Data at the IMF) in 2016. The overarching strategy is to move toward an ecosystem of data and statistics that enables the Fund and its members to better meet the evolving data needs in a digital world. It integrates Fund-wide work streams on data provision to the Fund for surveillance purposes, international statistical standards, capacity development, and data management under a common institutional objective. It seeks seamless access and sharing of data within the Fund, enabling cloud-based data dissemination to support data provision by member countries (e.g., the 'global data commons'), closing data gaps with new sources including Big Data, and improving assessments of data adequacy for surveillance to help better prioritize capacity development. The Fund also will work with policymakers to understand the implications of the digital economy and digital data for the macroeconomic statistics, including new measures of welfare beyond GDP.
Download or read book Review of the Framework for Data Adequacy Assessment for Surveillance written by International Monetary Fund. Statistics Dept. and published by International Monetary Fund. This book was released on 2024-01-05 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the framework for Data Adequacy Assessment for Surveillance, which is a key element of the policies that govern the requirements for Data Provision to the Fund for Surveillance Purposes, aimed at ensuring high-quality data for economic analysis and policy advice. The Data Adequacy Assessment requires staff to assess, in the context of Article IV consultations, the adequacy of data provided to the Fund for surveillance purposes, the implications of data inadequacies for surveillance, and the need for corrective measures. In line with the recommendation of the Independent Evaluation Office’s report “Behind the Scenes with Data at the IMF: An IEO Evaluation” and previous guidance provided by the IMF Executive Board, this paper introduces a new framework to prepare the Data Adequacy Assessment, ensuring greater objectivity and granularity in the assessment. Data adequacy will become more prominent in the surveillance discussions by including a new Data Issues Annex in the staff report, which will replace the current Statistical Issues Appendix in the Informational Annex. The new framework will facilitate the policy dialogue with country authorities on macro-critical data issues and enhance the integration of surveillance and capacity development.
Download or read book Tenth Review of IMF Data Standards Initiatives written by International Monetary and published by International Monetary Fund. This book was released on 2022-03-16 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF Data Standards Initiatives enhance data transparency as a global public good. The Tenth Review updates the framework, in light of new data priorities, through a parsimonious and principles-based expansion of encouraged data categories covering selected aspects in the areas of public debt, macro-financial indicators, foreign exchange intervention, climate change-related policy, and gender- disaggregated labor market statistics. The Review also focuses on strengthening the monitoring of the first tier of the Data Standards Initiatives, the enhanced General Data Dissemination System (e-GDDS), and encouraging subscribers of the second tier, the Special Data Dissemination Standard (SDDS), to modernize data publication technology.
Download or read book Monetary Policy in Times of Crisis written by Massimo Rostagno and published by Oxford University Press. This book was released on 2021 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first twenty years of the European Central Bank offer a unique insight into how a central bank can navigate macroeconomic insecurity and crisis. This volume examines the structures and decision-making processes behind the complex measures taken by the ECB to tackle some of the toughest economic challenges in the history of modern Europe.