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Margaret G. de Vries

This paper highlights that for the IMF, July 2004 marked the 60th anniversary of the conference in Bretton Woods, New Hampshire, when delegations from 44 allied countries drafted and agreed upon the IMF’s charter. The IMF’s role and work have evolved in response, but like any large organization, its ability to change has been limited by its own rules and mandate and has been held back by inertia. This year’s anniversary offers an opportunity to reflect on how gaps between the reality and the ideal might be closed in the coming years.

Goldsbrough David

In July, the IMF’s Independent Evaluation Office (IEO) released the findings of its review of the IMF-World Bank’s Poverty Reduction Strategy Paper (PRSP) process and the IMF’s Poverty Reduction and Growth Facility (PRGF).The main aims of the wide-ranging evaluation were to determine whether these two initiatives have been implemented according to original expectations and whether the IMF has been sufficiently supportive of the broader PRSP process. David Goldsbrough, Acting Director of the IEO, spoke with Jacqueline Irving of the IMF Survey about the report’s findings.

International Monetary Fund. External Relations Dept.

The IMF’s Independent Evaluation Office (IEO) released a report on March 12 assessing the IMF’s role in aid to sub-Saharan Africa (SSA). The report presented evidence from 29 SSA countries that had borrowed from the IMF through the Poverty Reduction and Growth Facility (PRGF)—the concessional lending window for low-income countries—between 1999 and 2005. It found that macroeconomic performance in these countries had improved, partly because of the advice and actions of the Fund. But it also found “ambiguity and confusion” about the IMF’s policies and practices in important aid-related areas and “miscommunications to external audiences.”

International Monetary Fund. External Relations Dept.

To get objective and substantive feedback on the IMF’s performance, the Executive Board established the Independent Evaluation Office (IEO) in July 2001. The IEO has produced a series of detailed reports on aspects of the IMF’s work. The reports are used to evaluate how the IMF does its job and to help formulate desirable changes in policies and practices.

International Monetary Fund. External Relations Dept.
For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.
International Monetary Fund. External Relations Dept.
Pour les dernières idées sur le système financier international, la politique monétaire, le développement économique, la lutte contre la pauvreté et d’autres questions importantes, abonnez-vous à Finances & Développement (F&D). Ce trimestriel attrayant présente des analyses approfondies sur ces thèmes et d'autres sujets, rédigées par les membres des services du FMI ainsi que par des experts de renommée internationale. Les articles sont écrits pour les non-spécialistes qui souhaitent enrichir leur compréhension des rouages de l'économie mondiale et des politiques et activités du FMI.
International Monetary Fund. External Relations Dept.
Para estar al corriente del pensamiento actual sobre el sistema financiero internacional, la política monetaria, el desarrollo económico, la reducción de la pobreza y otros temas cruciales, suscríbase a Finanzas y Desarrollo. Esta amena revista trimestral ofrece análisis profundos del personal técnico del FMI y destacados expertos internacionales sobre estas y otras cuestiones. Los artículos están dirigidos a un público no especializado que desea comprender mejor el funcionamiento de la economía mundial y las políticas y actividades del FMI.
International Monetary Fund. External Relations Dept.

studies. Together with its counterpart at the World Bank, it will evaluate the Poverty Reduction Strategy Papers that guide concessional lending to low-income countries from the IMF’s Poverty Reduction and Growth Facility, and it will ask how well that facility has met its objectives. The IEO will also study the role of the IMF in Argentina from 1991 through 2002. Finally, it will evaluate the IMF’s technical assistance programs. How well has the IEO met its objectives so far? To find out, F&D invited four individuals to offer their own evaluations of this IMF

Ms. Laura Wallace

and Present,” Alan Taylor looks at today’s globalized economy and an earlier period of integrated capital markets. Drawing on studies from a book just published with coauthor Maurice Obstfeld, he warns that for over a hundred years, policymakers have had to contend with the “trilemma”—the impossibility of implementing simultaneously a pegged exchange rate, open capital markets, and an independent monetary policy. Closer to home, F&D checks up on the new IMF watchdog—the Independent Evaluation Office—which was set up in July 2001 and has now completed three

International Monetary Fund. External Relations Dept.
This paper presents a snapshot of changes in the world’s health and demographic conditions. The paper highlights that in most parts of the world, individuals are healthier and living longer, thanks to improved health services and living conditions and the more widespread use of immunization, antibiotics, and better contraceptives. Although this trend is likely to continue, hopes are fading in some regions where progress slowed or stopped in the 1990s, primarily as a result of the AIDS epidemic. Moreover, most regions of the developing world will not reach the Millennium Development Goals for health by 2015.