ONE OF the major purposes of the IEO is to enhance the “learningculture” of the IMF. Those who laid the foundations of the IEO—and I was one of them—obviously had in mind not only IMF staff and management but also the Executive Directors themselves, whose learningculture stood to be improved in many areas.
In this context, it makes sense for a former IMF Executive Director to try to answer the following question candidly; Would I, as a member of the Board, have been better equipped if the IEO’s analysis of today had been available to me? My answer is
IEO evaluations are an integral part of the Fund’s learning culture, helping the Fund absorb lessons that improve its work. In addition, the objectivity of IEO evaluations has bolstered the Fund’s credibility. In discussing the report of the External Evaluation of the IEO (the “Lissakers report”), Executive Directors welcomed the suggestions to strengthen follow-up to the IEO recommendations?including more Board involvement—and supported a more systematic approach for following up and monitoring the implementation of IEO recommendations approved by the Board.
This periodic monitoring report (PMR) is the first such effort under the new procedures approved by the Executive Board in January 2007. In particular, it responds to the instruction that “Management shall present to the Board a periodic monitoring report on the state of implementation of actions contained in the forward-looking implementation plans already in force and not deemed completed on the occasion of a prior periodic monitoring report. These reports shall indicate difficulties in implementing the original plan and propose remedial or substitute actions whenever appropriate. The first periodic monitoring report shall be prepared following the delivery of the 2007 IEO Annual Report. As the IEO Annual Reports cover the status of all past IEO recommendations, it is expected that the first periodic monitoring report produced by Management would also review the implementation of recommendations made to date.”
Opening Remarks by the Chair
Global Policy Agenda: Taking Stock of Implementation and the Way Forward
Invigorating the recovery: Policies to anchor stability and lay the foundation for stronger gtrth
Restoring resilience: Completing financial sector reform; achieving fiscal sustainability; fostering job creation and inclusive gtrth; and continuing global imbalances adjustment
Adapting to the future : Reforming IMF quotas and governance; continuing to improve diversity and the IMF’s learningculture, and to adapt to the changing global landscape
The following is the provisional agenda for the Twenty-Seventh Meeting of the International Monetary and Financial Committee, which is to be convened at the IMF's Headquarters in Washington, D.C. on April 20, 2013.
-Surveillance Integration (September 2019) and APD Capacity Development-Surveillance Integration (February 2020).
IMF Finances and Governance
Work to ensure that Fund resources remain adequate and governance reform continues
Quota and Voice
Work is underway on package of reforms that would at least maintain the Fund’s current resource envelope and ensure that governance reform will continue. Board engagements will be scheduled as appropriate.
IEO evaluations will continue to strengthen the Fund’s learningculture