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International Monetary Fund. Independent Evaluation Office

Abstract

The 2008 evaluation assessed the degree to which Fund governance was effective and efficient, and whether it provided sufficient accountability and channels for stakeholders to have their views heard. It focused on institutional structures as well as on the formal and informal relationships among the Fund’s main governance bodies: the Executive Board (“Board”), Management (the Managing Director and Deputy Managing Directors), and the International Monetary and Financial Committee (IMFC). Overall, it found that effectiveness had been the strongest aspect of Fund governance, which allowed for quick and consistent action particularly in times of systemic crisis. On the other hand, accountability and voice had been the weakest aspects, which the evaluation considered would likely undermine legitimacy and effectiveness over the medium term if left unaddressed.

International Monetary Fund. Independent Evaluation Office

Abstract

The IEO completed an evaluation of the governance of the IMF in 2008 when the stability of the international monetary system was under threat and the relevance and legitimacy of the IMF was in question. The 2008 evaluation assessed the extent to which IMF governance was effective and efficient, and whether it provided sufficient accountability and channels for stakeholder voices to be heard. It concluded that effectiveness had been the strongest aspect of the Fund’s governance while accountability and voice had been the weakest, with the potential to undermine legitimacy and effectiveness if not addressed.

International Monetary Fund. Independent Evaluation Office

Abstract

The IEO completed two evaluations in FY2014—one on IMF Forecasts and one on Recurring Issues from a Decade of Evaluation—as well as an update of the 2005 evaluation on IMF Technical Assistance.

International Monetary Fund. Independent Evaluation Office

Abstract

The financial year 2009 saw the production of an evaluation on The IMF’s Approach to International Trade Policy Issues. The Governance of the IMF report was also discussed by the Board in FY2009, and there were discussions on follow-up to the IEO evaluation of Structural Conditionality in IMF-Supported Programs. This recently completed evaluation and follow-up to past evaluations will be discussed in Chapter 2.

International Monetary Fund. Independent Evaluation Office

Abstract

Surveillance is a core function of the IMF, a critical element of its toolkit to promote global financial stability. Multilateral surveillance brings into analysis economic linkages and policy spillovers between countries, as well as international economic and market developments. It complements bilateral surveillance by adding global and cross-country perspectives to the analysis of developments in individual countries. And by exploring options to deal with policy spillovers in a global context, it can enhance the policy advice that the IMF gives to its members.

International Monetary Fund. Independent Evaluation Office

Abstract

The IEO is currently completing the evaluation on The IMF’s Interactions with Its Member Countries. Work is starting on two evaluation projects, one looking at the IMF’s research and one assessing the Fund’s performance in the run-up to the current financial and economic crisis. Beyond these two projects, the selection of future topics will await the arrival of the next Director of the IEO. Table 1 shows the status of IEO evaluations completed or in progress.

International Monetary Fund. Independent Evaluation Office

Abstract

Previous IEO Annual Reports identified common themes emerging from earlier evaluations. The FY2007 Annual Report emphasized the need for: