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International Monetary Fund. Independent Evaluation Office

Abstract

The financial year 2008 saw the production of evaluation reports on “Structural Conditionality in IMF-Supported Programs” and “Governance of the IMF.” The Structural Conditionality report was discussed by the Board in FY2008, the Governance report in May 2008. FY2008 also saw Executive Board discussions related to the reports on “The IMF and Aid to Sub-Saharan Africa” and “IMF Exchange Rate Policy Advice.”

International Monetary Fund. Independent Evaluation Office

Abstract

In FY2008, two evaluations were completed, and were subsequently discussed by the Executive Board of the IMF. These were “Structural Conditionality in IMF-Supported Programs” and “Governance of the IMF.” For the Structural Conditionality evaluation the Executive Board also discussed the MIP in response to Board-endorsed recommendations arising from that report.

International Monetary Fund. Independent Evaluation Office

Abstract

Previous IEO Annual Reports have identified common themes emerging from earlier evaluations. Four themes have been emphasized in particular; they are the need for:

International Monetary Fund. Independent Evaluation Office

Abstract

The IEO is currently engaged in the preparation of two evaluation projects: “The IMF’s Interactions with Its Member Countries” and “The IMF’s Approach to International Trade Policy Issues.” One other evaluation, “The IMF’s Research Agenda,” is expected to commence in FY2009. Table 4.1 shows the status of the various evaluations completed, in progress, or in the work program of the IEO. The IEO has now begun a transparent consultation process with the IMF’s Executive Board, Management, and staff, as well as external stakeholders to identify a set of topics to be added to the office’s pipeline in FY2009. This chapter details those evaluations currently in progress.

International Monetary Fund. External Relations Dept.

On November 21, the seven-party alliance government of Nepal and the Communist Party of Nepal (Maoist) (CPN-M) signed a comprehensive peace accord that marked the official end of an 11-year armed insurgency and provided for arms management and an interim government and legislature in which the CPN-M would participate in the lead-up to constituent assembly elections in June 2007.

Ms. Susan Creane, Mr. Ahmed Mushfiq Mobarak, Miss Randa Sab, and Rishi Goyal

Abstract

As countries in the Middle East and North Africa (MENA) (Box 1) consider ways to promote more rapid and lasting economic growth, further financial sector reform should be high on the agenda. Policies aimed at enhancing financial sector performance result in higher economic growth: both theory and evidence support this proposition. A more developed financial system promotes efficiency and growth by reducing information, transaction, and monitoring costs. Research in this area is typically based on a broad cross section of countries, but comparatively little work has been done on the specifics of financial development in the MENA region.

Ms. Susan Creane, Mr. Ahmed Mushfiq Mobarak, Miss Randa Sab, and Rishi Goyal

Abstract

In this study, the authors assess financial sector development in the MENA regionand propose several policy measures, which include reinforcing the institutional environment and promoting nonbank financial sector development, to enhance this sector’s performance.

International Monetary Fund. Independent Evaluation Office

Abstract

The IMF’s surveillance framework encompasses a new focus on multilateral issues, and especially the spillovers from one economy onto others. This third Annual Report of the Independent Evaluation Office describes ongoing and recently completed evaluations and discusses additions to IEO’s work plan. General lessons pertaining to IMF surveillance emerging from recent evaluations are highlighted and discussed, namely the need for better integration of financial and macroeconomic factors as well as bilateral and multilateral policy analysis and policy prescriptions. The findings of an External Evaluation Panel charged with assessing the work of the IEO are also covered.