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List of IMF Member Countries with Delays in Completion of Article IV Consultations or Mandatory Financial Stability Assessments over 18 Months

Author(s):
International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Legal Dept.;International Monetary Fund. Secretary's Department
Published Date:
March 2016
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In line with a framework introduced in 2012 for addressing excessive delays in the completion of Article IV consultations, the following table lists the IMF members for which the Article IV consultation has been delayed by more than 18 months at March 15, 2016. The delay is counted past the stipulated date for the consultation plus any applicable grace period. There are no countries for which the mandatory financial stability assessments are delayed by more than 18 months at March 15, 2016.

IMF Member Countries with Delays in Completion of Article IV Consultations over 18 Months 1/
MemberCompletion Date of Last ConsultationStipulated Date for Completion of Next Consultation 2/Main Reason for Delay 3/Delay in Completion of Consultation (in months) 4/
Venezuela9/13/20049/13/2005No agreement on mission dates/modalities124
Argentina7/28/20067/28/2007Miscellaneous5/100
Eritrea12/7/200912/7/2010No agreement on mission dates/modalities61
Syrian Arab Rep.2/26/20102/26/2011Political/security situation57
Central African Rep.1/30/20121/30/2013Political/security situation34
Guinea2/24/20122/24/2014Miscellaneous6/24
Libya5/17/20135/17/2014Political/security situation18
Source: IMF staff.

The status and classification of countries are as of March 15, 2016.

Excluding three-month grace period, where applicable, for member countries without a Fund arrangement or PSI.

Reasons for delay are explained below.

The delay measures the lag between the stipulated date of completion of the next Article IV consultation plus the three-month grace period, where applicable. If the stipulated date for completion of the consultation falls in the first half of a given month, the calculation of the delay includes this month.

The Argentine authorities have confirmed their intention to restart Article IV consultations in 2016, and intend to invite staff for a mission during the third quarter.

Delays mainly due to the Ebola outbreak.

Source: IMF staff.

The status and classification of countries are as of March 15, 2016.

Excluding three-month grace period, where applicable, for member countries without a Fund arrangement or PSI.

Reasons for delay are explained below.

The delay measures the lag between the stipulated date of completion of the next Article IV consultation plus the three-month grace period, where applicable. If the stipulated date for completion of the consultation falls in the first half of a given month, the calculation of the delay includes this month.

The Argentine authorities have confirmed their intention to restart Article IV consultations in 2016, and intend to invite staff for a mission during the third quarter.

Delays mainly due to the Ebola outbreak.

Note: Taxonomy of the Reasons for Delays of Article IV Consultations

Article IV consultations are delayed for a variety of reasons. For the purpose of monitoring delays, Fund staff groups the reasons into the following categories. It should be recognized, however, that a delay may have more than one reason.

  • Program-related issues: Delayed (i) in order to combine the consultation with a request for use of Fund resources (UFR) or Policy Support Instrument (PSI), or program review; or (ii) due to ongoing discussions on UFR or PSI, or continued work on program review.
  • Further discussions: Delayed due to further discussions with the authorities on economic developments and policies.
  • Political/security situation: Delayed due to the unsettled political and/or security situation.
  • Government change: Delayed due to forthcoming or recent elections, change of government, or changes within government.
  • Staffing constraints.
  • Authorities’ request: Delayed at the request of the authorities due to, for example, their inability to host the mission as a result of their work schedule.
  • No agreement on mission dates/modalities: There was no agreement on the modalities for the mission/the authorities have not communicated dates for the Article IV consultation mission.
  • Miscellaneous: Includes reasons not accommodated above.

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