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International Monetary Fund

The Greek economy is teetering owing to heavy public debt and loss of market access. Greece is adopting an ambitious comprehensive multiyear adjustment program to lower the fiscal deficit and the debt ratio, reduce domestic demand in line with capacity, and increase supply and competitiveness so that the economy can step onto a higher growth path led by investments and exports. Greece needs a strong and sustained adjustment program to lower the fiscal deficit substantially and create the basis for a declining debt ratio.

International Monetary Fund. External Relations Dept.

03/84: IMF Managing Director’s Visit to Mexico for Brady Bond Ceremony, June 12

International Monetary Fund

This Selected Issues paper for Canada presents comprehensive and broad-based analysis of the role of domestic and external shocks. Canada’s economic history illustrates the important role played by external as well as domestic macroeconomic disturbances. Canada’s economy slowed in 2001 because of the global slowdown, although by less than in many other countries. In 2003, the recovery has been interrupted by a series of shocks that moderated growth. Fluctuations in Canadian real GDP are explained by external and domestic cycles.

International Monetary Fund. Independent Evaluation Office

Abstract

1. This evaluation examines the research produced at the IMF between 1999 and 2008.1 It focuses on the relevance and utilization of the research, particularly as seen by authorities in member countries, and also examines technical quality and the management of research activities. The evaluation identifies ways to improve the relevance, quality, and management of IMF research. Research is defined broadly to capture most analytical publications of the IMF, ranging from surveillance-oriented output—such as selected issues papers (SIPs) prepared for Article IV consultations and the analytical chapters of the World Economic Outlook (WEO) and Global Financial Stability Report (GFSR)—to more academically-oriented output—such as working papers (WPs) and external journal publications. During the evaluation period these outputs comprised a large body of research, about 650 publications annually, at a cost of about 10 percent of the IMF budget.

International Monetary Fund. Independent Evaluation Office

Abstract

6. This chapter lists the IMF product lines considered to be part of research for the purpose of this evaluation, and describes the methods and sources of data used in this study. It also provides information on the composition of research by product line, originating IMF department, and coverage.

International Monetary Fund. Independent Evaluation Office

Abstract

16. This chapter examines the relevance and utilization of different I MF research products to country authorities and IMF staff, as well as other stakeholders, mainly based on interviews and surveys. It assesses whether the coverage of IMF research met the expectations and needs of the intended users and whether the research was utilized. A brief description of thematic coverage and patterns of use of IMF research across country groupings is followed by a discussion of each of the research product lines. The chapter concludes by examining factors that need to be addressed to enhance the relevance and utilization of IMF research.

International Monetary Fund. Independent Evaluation Office

Abstract

47. This chapter examines the technical quality of the different types of IMF research. It assesses the soundness of the analysis and policy conclusions in different product lines, as well as the clarity of exposition in relation to their intended audience. The evaluation criteria were adjusted to take into account the different goals and intended audiences of each category (and product line) of research.15 Surveillance-oriented research was assessed on the basis of how well it explained the relevance of the policy issue being examined, the appropriateness of the analytical framework and data used to address the question posed, and the clarity of the policy conclusions. In addition, academic-style output was judged on the basis of whether it generated new knowledge or broadened the understanding of policy frameworks.

International Monetary Fund. Independent Evaluation Office

Abstract

65. This chapter examines the organization of research activities at the IMF, looking in particular at resource allocation; prioritization and coordination; collaboration across IMF units and with authorities; the review process for research documents; incentive structure; and dissemination.21

International Monetary Fund. Independent Evaluation Office

Abstract

75. The IMF produced a vast body of research that included a large number of high-quality and very useful products, which were appreciated by country authorities, staff, and the research community. This was particularly true for the WEO and GFSR, but also for many other publications. IMF research publications were widely read by authorities in member countries and played a significant role in policymaking and in discussions with IMF staff. IMF research was also influential among other international organizations, academics, and think tanks. At the same time, this evaluation found that there is significant scope to improve the relevance and quality of IMF research, and hence enhance utilization. The remainder of this section focuses on those areas where research activities and products could be improved.

International Monetary Fund. Independent Evaluation Office

Abstract

This evaluation assesses research produced at the IMF between 1999 and 2008. It focuses on relevance and utilization, but also examines technical quality and management. Research is defined broadly to capture most analytical publications of the IMF, ranging from surveillance-oriented output, for example, selected issues papers (SIPs) prepared for Article IV consultations and the analytical chapters of the World Economic Outlook (WEO) and Global Financial Stability Report (GFSR), to more academically-oriented output, for example, working papers (WPs) and publications in external journals. These outputs comprised a large body of research, about 650 publications annually, at a cost of about 10 percent of the IMF budget.