Download or read book Statement by the Managing Director on the Independent Evaluation Office s Report on the IMF and the Crises in Greece Ireland and Portugal An Evaluation by the Independent Evaluation Office Executive Board Meeting July 19 2016 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2016-06-07 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 Euro Area crisis programs. Their work provides an independent and in-depth account, which I have no doubt will make an important contribution to understanding the Fund’s approach to the crisis. As I have emphasized repeatedly, the IEO plays a vital role in enhancing the learning culture within the Fund, strengthening the Fund's external credibility, and supporting the Executive Board's institutional governance and oversight responsibilities.
Download or read book The Chairman s Summing Up The IMF and the Crises in Greece Ireland and Portugal An Evaluation by the Independent Evaluation Office Executive Board Meeting 16 69 July 19 2016 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2016-07-25 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: Executive Directors welcomed the report by the Independent Evaluation Office (IEO) on the IMF and the Crises in Greece, Ireland, and Portugal, and appreciated the accompanying statement by the Managing Director. They agreed that the report’s findings provide valuable insights and lessons for handling crises in members of currency unions. Directors underscored that the work of the IEO continues to play a vital role in enhancing the learning culture within the Fund, strengthening the Fund’s external credibility, and supporting the Executive Board’s oversight responsibilities. Directors broadly shared the general thrust of the IEO’s main findings and broadly endorsed its recommendations, with some caveats.
Download or read book Statement by the Managing Director on the Independent Evaluation Office s Report on the IMF and the Crises in Greece Ireland and Portugal written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Progress Report to the International Monetary and Financial Committee on the Activities of the Independent Evaluation Office of the IMF written by International Monetary Fund and published by International Monetary Fund. This book was released on 2016-04-10 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report summarizes the outcome of the IEO’s evaluation of The IMF and the Crises in Greece, Ireland, and Portugal, discussed by the Executive Board on July 19, 2016, and reports on recent follow-up and ongoing IEO work.
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.
Download or read book Background Papers on The IMF and the Crises in Greece Ireland and Portugal written by Moisés J. Schwartz and published by International Monetary Fund. This book was released on 2017-06-30 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
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 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 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 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 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 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 International Monetary Fund Annual Report 2017 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2017-10-05 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the past financial year, the IMF’s 189 member countries faced a number of pressing challenges. IMF work on these challenges - slower trade, declining productivity, gender inequality, inclusive growth, and debt management - is a central focus of this 2017 Annual Report.
Download or read book International Monetary Fund Annual Report 2021 written by International Monetary Fund. Secretary's Department and published by International Monetary Fund. This book was released on 2021-10-04 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.
Download or read book Independent Evaluation Office Annual Report 2017 written by International Monetary Fund. Independent Evaluation Office and published by International Monetary Fund. This book was released on 2017-10-05 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses that the Independent Evaluation Office (IEO) has also launched three new evaluations—which will analyze the IMF’s role on fragile states, its financial surveillance activities, and its advice on unconventional monetary policies—and two evaluation updates—which will look into the IMF’s exchange rate policy advice and structural conditionality. The evaluation found that, for the most part, the IMF’s euro area surveillance identified the right issues during the pre-crisis period but did not foresee the magnitude of the risks that would later become paramount. The IMF’s surveillance of the financial regulatory architecture was generally of high quality, but staff, along with most other experts, missed the buildup of banking system risks in some countries. The report found several issues with the way decision making was managed by the IMF. In May 2010, the IMF Executive Board approved a decision to provide exceptional access financing to Greece without seeking preemptive debt restructuring, even though its sovereign debt was not deemed sustainable with a high probability.
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.