Abstract

The IEO is currently working on three evaluations, namely on self-evaluation in the IMF, the IMF’s response to the financial and economic crisis, and statistics. Also underway are two updates of past evaluations, on low-income country issues and capital account liberalization. The scope and status of each is summarized below.

The IEO is currently working on three evaluations, namely on self-evaluation in the IMF, the IMF’s response to the financial and economic crisis, and statistics. Also underway are two updates of past evaluations, on low-income country issues and capital account liberalization. The scope and status of each is summarized below.

Work in Progress

The IEO is nearing the final stages of work on “An Assessment of IMF Self-Evaluation Systems.” This evaluation examines the systems used by the Executive Board, IMF Management, and staff to learn from experience through self-evaluation of IMF lending programs and surveillance and capacity development activities. The IEO expects to submit the evaluation report to the Executive Board in FY2015.

The evaluation of “IMF Response to the Financial and Economic Crisis” will assess the IMF’s actions beginning in September 2008 to help contain the global crisis, cope with its impact on individual economies, navigate a global recovery, and identify and warn about future risks. The final Issues Paper with the terms of reference for this evaluation was posted on IEO’s website on March 12, 2014. The IEO expects to submit the evaluation report to the Executive Board in FY2015.

The evaluation of “Statistics for Global Economic and Financial Stability: The Role of the IMF” will examine whether the IMF’s activities regarding data and statistics—including data collection, management, dissemination, and policies—are adequate for fulfilling the IMF’s objectives in a rapidly evolving global economy. A Draft Issues Paper for this evaluation was posted on the IEO website for public comment on January 27, 2014.

The fourth study in the series revisiting past IEO evaluations will update two IEO evaluations on low-income country issues: the 2004 IEO Evaluation of the IMF’s Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility and the 2007 IEO evaluation of The IMF and Aid to Sub-Saharan Africa. The report will be circulated to the Executive Board in early FY2015.

In addition, the IEO has begun work on a revisit of the 2005 evaluation of The IMF’s Approach to Capital Account Liberalization. This report will provide an update on the key issues in the original IEO evaluation and examine whether the analysis, conclusions, and recommendations of the original evaluations are still relevant.

Table 1 shows the status of IEO evaluations and evaluation updates completed or in progress.

Table 1.

Completed and Ongoing IEO Work Program

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Date indicates when the evaluation report was transmitted to the IMF Executive Board.

Future Work Program

The IEO expects to launch an evaluation on the IMF and the euro area crisis during FY2015. The IEO Director will also begin consultations with country authorities, IMF Executive Directors, Management, and staff, as well as outside stakeholders, on topics for future evaluations.