Statement by the Managing Director on the Independent Evaluation Office Evaluation of IMF Interactions with Member Countries
- International Monetary Fund. Independent Evaluation Office
- Published Date:
- August 2010
Executive Board Meeting
December 14, 2009
1. I welcome this latest report from the Independent Evaluation Office, which provides important insights into Fund interactions with its membership. Coming at this juncture, the report reinforces the thrust of the reforms undertaken by the Fund in its response to global crisis as called for by the membership.
2. The survey results offer a wealth of information on the perceived effectiveness of Fund relations by authorities, staff, the Executive Board, and civil society organizations. The survey evidence points to an essentially favorable assessment of the Fund’s relations with its members, but also—and very rightly—emphasizes specific areas that we need to work on in the period ahead.
3. The underlying evidence of the report highlights several encouraging messages. First, the overall effectiveness of Fund interactions was very positively rated by the broad majority of authorities in almost all country groups. There was also a high degree of strategic alignment between the authorities and staff on the purposes of Fund interactions in all countries. It is important that this alignment be maintained for the Fund to best support its members in responding to the crisis. Second, the very favorable responses from PRGF-eligible countries on Fund relations is encouraging, and lend support to stepped up efforts to enhance our engagement with low-income countries. Finally, the survey responses by civil society organizations provide some fresh evidence on the effectiveness of Fund outreach efforts and constitute important inputs in shaping the Fund’s outreach strategy going forward.
4. The report also suggests areas where the Fund needs to do more. We need to continue with our efforts to strengthen the role and relevance of our surveillance and policy advice, not only in advanced and large emerging market economies, but across the entire membership. Importantly, as the institution assists its members in securing a durable recovery from the crisis while striving to limit any recurrences, promoting candor in staff’s assessments is critical. On these issues, I believe the report offers the basis for a constructive debate at the Board meeting.
5. The accompanying staff statement responds in more detail to the report’s findings and recommendations. I look forward to the Board’s reflections on the report, which will help draw out further the implications for the Fund’s policies and procedures.