Appendix V: External Communications

International Monetary Fund
Published Date:
October 2004
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In FY2004, the IMF continued to carry out a coordinated external communications strategy, in line with the Executive Board’s discussion in March 2003.1 The strategy focuses on two-way communication with groups and individuals through nonofficial channels, ensuring that the IMF learned from its interlocutors as it continued to assess and reform its policies and operations. The strategy also encompasses work on improving the public’s understanding of and support for the Fund and its activities. (For a description of the IMF’s transparency policy, see Section 6.) The IMF’s main external communications activities are described below.

Public Statements and Publications

In accordance with the IMF’s transparency policy, a large number of policy and country papers and summaries of Board discussions were released during FY2004. The Fund’s external website ( continued to be the primary vehicle for dissemination. During the year, an average of 120 items a month were added to the Wha’s New section of the website.

The external website was redesigned during FY2004 to better meet user needs. Both the World Economic Outlook database and the e-mail notification system were enhanced. During the past financial year, over 8 million e-mails were sent to subscribers, who now have the option of receiving country-specific documents in addition to documents from a given series.

Following the Executive Board’s March 2003 review of the IMF’s external communications strategy, the Fund undertook a pilot project to increase the publication on the external website of selected types of Fund documents in languages other than English, when translations are available and a request for publication has been received. This pilot has been extended for further assessment.

The Executive Board’s weekly calendar is now available on the website, as are ex post assessments of country programs (which are part of the IMF’s country report series).

Speeches and other public appearances by management and senior staff conveyed the IMF’s views on broad policy and economic issues ranging from IMF reform to the outlook for the world economy, and on specific country and regional issues. The IMF posted most speeches on the website within hours of delivery.

Publication of economic and financial research and policy analysis papers included two issues of the World Economic Out-look; two issues of the Global Financial Stability Report: the quarterly journal IMF Staff Papers; the quarterly magazine Finance & Development; the biweekly newsletter IMF Survey; and a wide array of books, manuals and guides, Occasional Papers, Working Papers, Policy Discussion Papers, pamphlets, and leaflets (see Table V.1).

Table V.1Publications Issued, Financial Year Ended April 30, 2004
Reports and Other Documents

Annual Report of the Executive Board for the Financial Year Ended April 30, 2003* (Chinese, English, French, German, and Spanish).

Annual Report on Exchange Arrangements and Exchange Restrictions, 2003 $110: $55 to full-time university faculty members and students.

Summary Proceedings of the Fifty-Sixth Meeting of the Board of Governors (2002). *

The IMF Committee on Balance of Payments Statistics, Annual Report, 2003. *

Selected Decisions and Selected Documents of the International Monetary Fund, 28th edition.

IMF Financial Statements, quarters ended April 30, 2003: October 31, 2003; January 31, 2004.

Periodic Publications

Balance of Payments Statistics Yearbook

Vol. 54, 2003. A two-part yearbook. $98 a year.

Direction of Trade Statistics

Quarterly, with yearbook. $155 a year: $129 to full-time university faculty members and students. $70 for yearbook only.

Finance and Development*

Quarterly (Arabic, Chinese, English, French, and Spanish). Free by subscription.

Airspeed delivery, $20. Individual copies. $10.

Government Finance Statistics Yearbook

Vol. 27, 2003 (Introduction and titles of lines in English, French, and Spanish). $80.

IMF Research Bulletin*


IMF Staff Papers*

Three times a year. $72 a year; $46 to full-time university faculty members and students.

IMF Staff Papers: Special Issue of the Proceedings of the Third Annual Research Conference (Vol. 50, 2002). $18.

IMF Survey*

Twice monthly, once in December (English, French, and Spanish). Private firms and individuals are charged an annual rate of $109. Vol. 33-2003 (English), Vol. 33-2003 (French), and Vol. 33-2003 (Spanish).

International Financial Statistics

Monthly, with yearbook. $495 a year; $247 to full-time university faculty members and students. $95 for yearbook only; $65 for monthly issues. International Financial Statistics is also available on CD-ROM and on the Internet at; price information is available on request.

Occasional Papers

No. 218. Fiscal Vulnerability and Financial Crises in Emerging Market Economies, by Richard Hemming. Michael S. Kell, and Axel Schimmelpfennig. 2003.

No. 219. Economic Policy in a Highly Dollanzed Economy: The Case of Cambodia, by Mario de Zamaroczy and Sopanha Sa. 2003.

No. 220. Effects of Financial Globalization on Developing Countries: Some Empirical Evidence, by Eswar S. Prasad. Kenneth Rogoff, Shang-Jin Wei, and Ayhan Kose. 2003.

No. 221. Deflation: Determinants, Risks, and Policy Options, by Manmohan S. Kumar, Taimur Baig, Jörg Decressin, Chris Faulkner-MacDonagh, and Tarhan Feyzioğlu. 2003.

No. 222. Informal Funds Transfer Systems: An Analysis of the Informal Hawala System, by Mohammed El Qorchi, Samuel Munzele Maimbo. and John F. Wilson. 2003.

No. 223. Monetary Union Among Member Countries of the Gulf Cooperation Council, by a staff team led by Ugo Fasano. 2003.

No. 224. Managing Systemic Banking Cnses, by a staff team led by David S. Hoelscher and Marc Quintyn. 2003.

No. 225. Rules-Based Fiscal Policy in France, Germany, Italy, and Spain, by Teresa Dában, Enrica Detragiache, Gabriel di Bella, Gian Maria Milesi-Ferretti, and Steven Symansky, 2003.

No. 226. Hong Kong SAR: Meeting the Challenges of Integration with the Mainland, edited by Eswar Prasad, with contributions from Jorge Chan-Lau, Dora lakova, William Lee, Hong Liang, Ida Liu, Papa N’Diaye, and Tao Wang. 2004.

No. 227. U.S. Fiscal Policies and Priorities for Long-Run Sustainability, edited by Martin Mühleisen and Christopher Towe, 2004.

No. 228. Capital Markets and Financial Intermediation in The Baltics, by Alfred Schipke, Christian Beddies, Susan M. George, and Niamh Sheridan. 2004.

Recent Occasional Papers are available for $25 each, $22 for full-time university faculty members and students.

World Economic and Financial Surveys

World Economic Outlook*

A survey by the staff of the International Monetary Fund.

Twice a year (April and September) (Arabic, English, French, and Spanish).

$49; $46 for full-time university faculty members and students.

Global Financial Stability Report, September 2003, April 2004.

$49; $46 for full-time university faculty members and students.

Emerging Local Securities and Derivatives Markets: Recent Developments and Policy Issues

$49; $46 for full-time university faculty members and students.

Official Financing: Recent Developments and Selected Issues, by a staff team led by Martin G. Gilman and Jian-Ye Wang.

$42; $35 for full-time university faculty members and students.

Books and Seminar Volumes

Challenges to Central Banking from Globalized Financial Systems, edited by Piero C. Ugolini, Andrea Schaechter, and Mark R. Stone. $40.

Changing Customs: Challenges and Strategies for the Reform of Customs Administration, edited by Michael Keen. $25.

Current Developments in Monetary and Financial Law, Vol. 2. $65.

Fiscal Policy Formulation and Implementation in Oil-Producing Countries, by Jeffrey M. Davis, Rolando J. Ossowski, and Annalisa Fedelino. $37.

Lifting the Oil Curse: Improving Petroleum Revenue Management in Sub-Saharan Africa, by Menachem Katz, Ulrich Bartsch, Harinder Malothra, and Milan Cue. $20.

The Low-Income Countries of the Commonwealth of Independent States: Progress and Challenges in Transition, edited by Clinton R. Shiells and Sarosh Sattar (with the World Bank). $36.

Managing Oil Wealth: The Case of Azerbaijan, by John Wakeman-Linn, Chonira Aturupane, Stephan Danninger, Koba Gvenetadze, Niko Bobdari, and Eric Le Borgne. $20.

Russia Rebounds, edited by David Owen and David 0. Robinson. $28.

Who Will Pay? Coping with Aging Societies, Climate Change, and Other Long-Term Fiscal Challenges, by Peter S. Heller. $28.

Manuals and Guides

Balance of Payments Textbook (Arabic). $25.

External Debt Statistics Guide for Compilers and Users (English, French, Spanish). $60.

Foreign Direct Investment Statistics: How Countries Measure FDI (with OECD). $25.

Government Finance Statistics Manual 2001, by the Statistics Department (French, Russian). $40.

Guidelines for Public Debt Management: Accompanying Document and Selected Case Studies, by the staffs of the IMF and the World Bank. $31.

Quarterly National Accounts Manual: Concepts, Data Sources, and Compilation, by Adriaan Bloem, Robert J. Dippelsman, Nils 0. Maehle (Russian). $40.

Suppressing the Financing of Terrorism: A Handbook for Legislative Drafting, by the IMF Legal Department (Arabic, English, French, Spanish, Russian*). $21.

Taxing the Financial Sector: Concepts, Issues, and Practices, edited by Howell H. Zee. $17.

Economic Issues Series*

No. 28. Moral Hazard: Does IMF Financing Encourage Imprudence by Borrowers and Lenders? by Timothy Lane and Steven Phillips (Arabic).

No. 29. The Pension Puzzle: Prerequisites and Policy Choices in Pension Design, by Nicholas Barr (Arabic).

No. 30. Hiding in the Shadows: The Growth of the Underground Economy, by Friedrich Schneider with Dominik Enste (Arabic, Chinese).

No. 31. Corporate Sector Restructuring: The Role of Government in Times of Crisis, by Mark R. Stone (Arabic, Chinese, French, Russian, and Spanish).

No. 32. Should Financial Regulators Be Independent? by Marc G. Quintyn and Michael W.Taylor (English).

No. 33. Educating Children in Poor Countries, by Arye L. Hillman and Eva Jenkner (English).

Pamphlet Series*

No. 53. Governance of the International Monetary Fund: Decision Making, Institutional Oversight, Transparency, and Accountability, by Leo Van Houtven (French).

Guide to the IMF Series*

IMF Technical Assistance: Transferring Knowledge and Best Practice (Arabic, Chines, English, French, Russian, and Spanish).

What is the International Monetary Fund? (Arabic, Bahasa Indonesian, and Thai).

Miscellaneous Publications

Challenges of Growth and Globalization in the Middle East and North Africa, by George T. Abed and Hamid R. Davoodi (Arabic and English).

Choosing Exchange Regimes in the Middle East and North Africa, by Abdelali Jbili and Vitali Kramarenko (Arabic and English).

Creating Employment in the Middle East and North Africa, by Edward Gardner (Arabic and English).

Financial Development in the Middle East and North Africa, by Susan Creane, Rishi

Goyal, A. Mushfiq Mobarak, and Randa Sab (Arabic and English).

GCC Countries: From Oil Dependence to Diversification, by Ugo Fasano and Zubair Iqbal (Arabic and English).

IMF Macroeconomic Research on Low-Income Countries (English).

The Middle East and North Africa in a Changing Oil Market, by Bright E. Okogu (Arabic and English).

Per Jacobsson Pamphlets: The Arab World: Performance and Prospects; and The Boom-Bust Capital Spending Cycle in the United States: Lessons Learned (English).

Independent Evaluation Office Reports

Independent Evaluation Office, Annual Report 2003.

The IMF and Recent Capital Account Crises: Indonesia, Korea, Brazil. Full Report $25. Abridged versions in English, Korean, and Portuguese.

Fiscal Adjustment in IMF-Supported Programs. Full Report $25. Abridged versions in English.

Working Papers and Policy Discussion Papers*

IMF Working Papers and Policy Discussion Papers are designed to make IMF staff research available to a wider audience. They represent work in progress and reflect the views of the individual authors rather than those of the IMF.

Working Papers 03/92-252 and 04/1-73 were issued in FY2004. $15 each; $375 for annual subscription.

Policy Discussion Papers 03/3-03/6 and 04/1 were issued in FY2004. $10 each; annual subscription is included as part of the subscription to Working Papers.

Country Reports*

IMF Country Reports provide comprehensive material on economic developments and trends in member countries, including key statistics.

Country Reports 03/121-402 and 04/1-119 were issued in FY2004. $15 each.

Available in English and selected other languages in full text on the IMF’s website ( The site also contains additional information about the IMF and its publications and videos-including the current Publications Catalog, a searchable IMF publications database, and ordering information and forms.

IMF publications are free unless otherwise indicated.Copies of IMF publications and videos may be obtained from Publication Services. International Monetary Fund. 700 19th Street. N.W., Washington. D.C. 20431, U.S.A.Telephone: (202) 623-7430Telefax: (202) 623-7201E-mail:

Available in English and selected other languages in full text on the IMF’s website ( The site also contains additional information about the IMF and its publications and videos-including the current Publications Catalog, a searchable IMF publications database, and ordering information and forms.

IMF publications are free unless otherwise indicated.Copies of IMF publications and videos may be obtained from Publication Services. International Monetary Fund. 700 19th Street. N.W., Washington. D.C. 20431, U.S.A.Telephone: (202) 623-7430Telefax: (202) 623-7201E-mail:

To make the IMF’s technical and analytical work more accessible, the IMF published new titles in its Economic Issues, Issues Briefs. and Factsheets series. Economic Issues are brief, readable summaries of policy-related findings of economic research carried out by Fund staff. Issues Briefs discuss key issues facing the IMF and the global economy, while the Factsheets explain in plain language how the IMF works.

The Media

Press briefings by the Director of the External Relations Department were held at headquarters for Washington-based journalists, usually at two-week intervals. Transcripts and videos of the briefings were posted on the IMF’s website shortly afterwards.

Press releases on decisions taken by the Executive Board, and on activities and statements by management and senior staff, were distributed electronically directly to journalists worldwide and posted on the website. Over the course of the financial year, more than 300 press releases and other communications to the press were prepared and distributed.

A web page for journalists was created on the Fund’s external website shortly before the end of the financial year, offering links to information of particular interest to the media. The page also serves as a gateway to the password-protected Media Briefing Center, an online service giving journalists access to embargoed documents, press briefings, and other useful information.

To reach wider audiences in member countries, IMF management and senior staff expressed their views on issues of importance to the Fund through a variety of other media channels. For instance, the Fund responded to interview requests with management or senior staff in the print and broadcast media, and Fund authors also offered media articles, often called op-eds, on country-specific or topical policy issues.

Press conferences with management and senior staff, held on such occasions as the Spring and Annual Meetings and on the release of major reports such as the World Economic Outlook and the Global Financial Stability Report, were also made widely available to the public as transcripts and videos posted on the website.

Outreach to Civil Society

In October 2003, the Managing Director issued to all members of the IMF staff the Guide for Staff Relations with Civil Society Organizations, which was published on the IMF’s website shortly afterwards. The preparation of the Guide followed a proposal, welcomed by IMF Executive Directors, to offer guidance for staff outreach that would focus specifically on issues arising in interactions with civil society that influence the Fund’s operational work. Great care was taken to obtain a balanced spectrum of views. The Guide was drafted by an external expert and involved extensive consultation with civil society organizations (CSOs) and IMF staff.

The IMF continues to deepen its outreach to CSOs, including nongovernmental organizations, labor unions, faith-based organizations, business associations, and research institutes and other think tanks. IMF staff and management meet frequently with civil society representatives both at headquarters and in the Fund’s member countries. The Fund interacts with CSOs (1) at Fund headquarters on global policy issues; (2) in the context of Article IV consultations and program design, particularly in low-income countries preparing poverty reduction strategies; and (3) in the normal course of work with member countries, especially the work conducted by resident representatives.

The IMF’s quarterly Civil Society Newsletter is distributed electronically to subscribers and is posted on the IMF website. To ensure that it reaches as wide an audience as possible, including national organizations in member countries, it is translated into French, Spanish, and Russian.

Outreach to Legislators

FY2004 saw a substantial expansion in the IMF’s outreach to legislators. IMF staff held various in-country seminars-for example, in Lao P.D.R., Vietnam, and Russia-as well as regional seminars with legislators in South Asia, the Middle East and North Africa, and Southeastern Europe. The seminars provided an opportunity for IMF staff to hear the views of legislators and to explain IMF policy advice. IMF management and Executive Directors met with legislators on their visits to member countries, and the IMF hosted several visiting parliamentary delegations at its headquarters. In FY2004, the Working Group of Executive Directors on Enhancing Communication with National Legislators was established. It recommended that outreach should be expanded to help build understanding of the Fund’s work.

The IMF has expanded its collaboration with the Parliamentary Network on the World Bank. In February 2004, management participated in the group’s annual meeting, which provided yet another occasion for legislators to have a dialogue with the IMF. Fund staff are also collaborating with other umbrella groups, such as the Global Organization of Parliamentarians Against Corruption.

Public Outreach

In September 2003, the IMF launched a new Book Forum series open to the public and designed to attract small, specialized groups interested in discussing books on topical economic issues. Book topics ranged from capitalism and globalization to IMF governance and the voice of developing countries in the IMF. The general public was also drawn to the Economic Forum series, which continued to provide an opportunity for informed discussion reflecting diverse points of view.

Outreach to academics, students, and the policy research community also continued to expand. In FY2004, some 180 briefings were given, along with the continuation of the biannual briefing to Washington-area think tanks to provide background on key issues surrounding the upcoming Spring and Annual Meetings. The IMF continues to be responsive to the general public, and in FY2004 the staff answered thousands of e-mails and written queries and commentaries on the work and policy advice of the IMF.

The IMF Center hosted nearly 17,000 visitors in FY2004. In addition to its web-based educational programs, such as “The IMF in Action” and “Trading Around the World,” the Center offered curriculums for elementary and high school groups. In FY2004, 375 elementary school students visited the Center to participate in lesson plans aimed at teaching them about international cooperation, currency, and trade. In addition to the permanent exhibit “Money Matters” on the history of global cooperation, the Center featured a new exhibit, “Money and Sovereignty,” developed in collaboration with the Smithsonian Institution, exploring the symbolic language of money from antiquity to the present. In conjunction with embassies, the Center organized and hosted cultural events that brought in new and large audiences.

The depth and variety of volunteer and philanthropic activities being pursued by the IMF reflects the commitment of the institution and its employees to “give back” to communities located both in the Washington, D.C., area and in member countries around the world. The IMF’s Civic Program and staff volunteers reach out to low-income communities at home and abroad through civic grants; volunteerism; donations to humanitarian relief efforts; the provision of space in the IMF headquarters building for community meetings, cultural events and fundraisers; and the donation of goods such as computers, furniture, clothing, and school supplies. The ultimate objective of all of the IMF’s outreach efforts is to help the recipients build a better future. In financial year 2004, direct IMF grants and staff donations to the IMF’s annual “Helping Hands” campaign and humanitarian relief campaigns totaled about $1 million. Since the inception of the Civic Program ten years ago, the IMF and its staff have contributed over $7 million to charities in the Washington, D.C., area and in developing countries. Information on the Civic Program is available on the external website.

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