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International Monetary Fund. Secretary's Department


The 2023 IMF Annual Report highlights the IMF’s work to support its members to address successive shocks, including Russia’s war on Ukraine, inflation, debt vulnerabilities, inequality food insecurity, geoeconomic fragmentation, climate change, and digitalization. In FY 2023, the Fund continued to support its members in our three core areas: 1) Economic surveillance: 126 country health checks completed.2) Lending: $74 billion to 36 countries, including about $11 billion to 21 low-income countries, for a total of $294 billion to 96 countries since the start of the pandemic. 3) Capacity development: $337 million for hands-on technical advice, policy-oriented training, and peer learning. The report is also available in Arabic, Chinese, French, German, Japanese, Portuguese, Russian, and Spanish. Note: The 2023 IMF Annual Report covers the activities of the Executive Board and IMF management and staff during the financial year May 1, 2022, through April 30, 2023, and in some cases more recently. Background: The Annual Report website includes the IMF’s financial statements for FY 2023 and other background documentation. The Annual Report and the financial statements are also available online at or

International Monetary Fund. European Dept.

On behalf of our Swiss authorities, we thank staff for the insightful policy discussions and the thorough analysis presented in their report. The report covers the key policy challenges, and the authorities are in broad agreement with the staff’s appraisal and the thrust of their recommendations. These recommendations will be useful in guiding the policies and further reform steps of our authorities.

International Monetary Fund. Middle East and Central Asia Dept.
Middle East Technical Assistance Center (METAC) has arranged a two-phase capacity development (CD) for the Libyan Customs Administration (LCA) of the Libyan Ministry of Finance. The purpose of this mission is to assess the development status of the ASYCUDA World (AW) prototype piloted in the Port of Tripoli and identify areas of short-term CD support enabling LCA to fully exploit the AW functionalities. It will be followed by a study tour to promote peer learning and exchange of best practices in the f ield of customs in particular digitalization issues, through the METAC region.
International Monetary Fund. European Dept.

This paper identifies exchange rate revaluation losses and relatively low returns on foreign assets as key factors for the large gaps between Switzerland’s net foreign assets acquisitions and accumulations. It suggests a few directions that may help Switzerland reduce the gaps, including robust global diversification by Swiss investors that would also relieve appreciation pressures on the franc, improving the currency composition of foreign assets to reduce exchange rate risks, and raising foreign investment returns, e.g., through improved pension fund performance.,