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International Monetary Fund. Independent Evaluation Office

Abstract

During the financial year 2013, the IEO produced two evaluations, International Reserves: IMF Concerns and Country Perspectives and The Role of the IMF as Trusted Advisor, both of which were discussed by the Executive Board. As part of a pilot project, the IEO prepared two reviews of past IEO evaluations, which are summarized in this report and attached in full as annexes. In addition, the IEO published a volume of self-evaluative papers produced for the conference marking its first ten years.

International Monetary Fund. Independent Evaluation Office

Abstract

During FY2013, the IEO issued reports on its evaluations of International Reserves: IMF Concerns and Country Perspectives, in December 2012, and The Role of the IMF as Trusted Advisor, in February 2013. In addition, the IEO initiated a pilot project to review past evaluations, revisiting the Evaluation of Prolonged Use of IMF Resources and Fiscal Adjustment in IMF-Supported Programs. The IEO also produced a volume of self-evaluative papers prepared for the conference marking its first ten years.

International Monetary Fund. Independent Evaluation Office

Abstract

When the IEO was established in 2001, periodic external evaluations of its work were envisaged. The first external evaluation, completed in 2006, assessed whether the IEO had fulfilled its mandate in its first five years of operation and made a number of recommendations to enhance the IEO’s role. In discussing the 2006 evaluation report, IMF Executive Directors agreed that the IEO had served the IMF well and had earned strong support across a broad range of stakeholders. Directors also welcomed the report’s recommendations to enhance IEO effectiveness, including a more focused and strategic orientation as well as enhanced Board involvement, and agreed on another external evaluation of the IEO in five years.

International Monetary Fund. Independent Evaluation Office

Abstract

The IEO is currently working on five evaluations and is also undertaking two reviews of past evaluations. The status of each is summarized below.

Mr. Parthasarathi Shome

Abstract

This paper analyzes particular areas of tax policy that have concerned the Colombian authorities during the 1990s, while comprising a comprehensive approach to tax reform over time. It is intended to allow the reader to view in technical detail the type of analysis conducted in a representative tax reform study carried out by the IMF.

Ara Stepanyan, Agustin Roitman, Gohar Minasyan, Ms. Dragana Ostojic, and Mr. Natan P. Epstein
In the face of sharply lower oil prices and geopolitical tensions and sanctions, economic activity in Russia decelerated in late 2014, resulting in negative spillovers on Commonwealth of Independent States (CIS) and, to a lesser extent, on Baltic countries. The spillovers to eastern Europe have been limited. The degree of impact is commensurate with the level of these countries’ trade, remittances, and foreign direct investment (FDI) links with Russia. So far, policy action by the affected countries has focused on mitigating the immediate consequences of spillovers.
International Monetary Fund

This report on the Observance of Standards and Codes provides a review of Armenia’s data dissemination practices against the IMF’s General Data Dissemination System (GDDS), complemented by an assessment of the quality of the national accounts, government finance, monetary, and balance-of-payments statistics. The report includes an overview of the GDDS and an assessment of Armenia’s data dissemination practices against the Standard, and presents a summary assessment of the quality of the principal macroeconomic datasets. The coverage, periodicity, and timeliness for macroeconomic data in Armenia are also summarized.

International Monetary Fund

This paper discusses findings of the Fourth Review of Armenia’s economic performance under a program supported by Extended Fund Facility and Extended Credit Facility Arrangements. Adherence to the policies agreed under the IMF-supported program has played an important role in helping Armenia restore solid growth. The 2011 fiscal deficit was well below program targets, reflecting restrained spending. The deficit is likely to be moderately higher in 2012, but still in line with the program, and with higher expected revenues allowing for increases in priority spending.

International Monetary Fund

This Selected Issues paper reviews the financial sector development in Georgia in recent years, and investigates why it has lagged behind economic development, as well as developments in more advanced transition economies. The paper briefly reviews recent financial sector development in Georgia, comparing it with developments in its neighboring countries in the Caucasus, the seven poorest countries in the Commonwealth of Independent States (CIS-7), the Baltics, and central and eastern Europe. The paper also analyzes possible factors constraining financial intermediation in Georgia and in some of the CIS countries more generally.