Key Trends in Implementation of the Fund's Transparency Policy

At the time of the 2005 review of the Fund’s transparency policy, it was agreed that information on key trends in implementation of the transparency policy would be circulated to the Board regularly, along with lists indicating the publication status of reports discussed by the Board. The set of tables provided in this report updates the last Key Trends with information on documents issued to the Board through December 2011.

Abstract

At the time of the 2005 review of the Fund’s transparency policy, it was agreed that information on key trends in implementation of the transparency policy would be circulated to the Board regularly, along with lists indicating the publication status of reports discussed by the Board. The set of tables provided in this report updates the last Key Trends with information on documents issued to the Board through December 2011.

Table 1.

Trends in Publication Rates 1/2/

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1/

Publication refers to documents considered by the Board during the calendar year, and published within six months of the end of the calendar year; e.g. the publication rate for 2011 refers to the documents discussed by the Board in 2011 and published by June 30, 2012.

2/

Data include documents issued for the Board’s consideration in a meeting or on a lapse-of-time basis.

3/

Does not include three Joint Staff Advisory Notes which were issued in 2011 but not yet discussed by the Board as of the issuance of these reports.

4/

Includes initial ROSC assessments and reassessments produced by the IMF, as well as the World Bank and, in the case of AML/CFT ROSCs, by FATF and FSRB, issued on a stand-alone basis or in FSSAs. Does not include assessments done under detailed standards assessments.

5/

Does not include authorities’ statements that are included in ROSCs. Includes Executive Directors’ Statements and “right of reply” documents.

6/

TMUs when applicable.

7/

Does not include two PRSP documents which were issued in 2011 but yet discussed by the Board as of the issuance of these reports.

8/

Only includes policy papers for which publication is presumed under the Transparency Policy. As of March 17, 2010, the presumed publication regime for policy papers was extended to all policy documents prepared for the Board, including documents prepared for formal meetings and informal sessions. However, papers dealing with internal or administrative matters remain excluded from the presumption.

Table 2.

Trends in Publication Rates of Article IV and UFR Staff Reports 1/

(By economic and regional characteristics)

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1/

Publication refers to documents considered by the Boa rd during the calendar year, and published within six months of the end of the calendar year; e.g. the publication rate for 2011 refers to the documents discussed by the Board in 2011 and published by June 30, 2012.

2/

Based on World Economic Outlook definitions.

3/

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

4/

Reflects publication rates for new Exceptional Access countries. Exceptional access from March 24, 2009 is defined as countries with average annual access of over 200 percent of quota for total access or total access of over 600 percent of quota. Before March 24, 2009, it is defined as countries with over 300 percent total access or over 100 percent average annual access. Reports discussed are counted as the number of reports discussed by the Board between the effective date and the end of calendar year.

Table 3.

Trends in Publication Lags 1/2/

(By type of reports, and by economic and regional characteristics)

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1/

Publication refers to documents considered by the Board during the calendar year, and published within six months of the end of the calendar year; e.g. the publication rate for 2011 refers to the documents discussed by the Board in 2011 and published by June 30, 2012.

2/

Country-specific documents are published on a “non-objection basis” from the member country, with technical delays typically not exceeding a few business days. Policy papers are published after authorization by the Board.

3/

Based on World Economic Outlook definitions.

4/

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

5/

Number of calendar days.

6/

Includes LOIs/MEFPs/TMUs issued in the context of SMPs and PSIs.

7/

Only includes policy papers for which publication is presumed under the Transparency Policy. As of March 17, 2010, the presumed publication regime for policy papers was extended to all policy documents prepared for the Board, including documents prepared for formal meetings and informal sessions. However, papers dealing with internal or administrative matters remain excluded from the presumption.

Table 4.

Deletions in Article IV and UFR Staff Reports 1/2/

(By economic and regional characteristics)

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1/

Publication refers to documents considered by the Board during the calendar year, and published within six months of the end of the calendar year; e.g. the publication rate for 2011 refers to the documents discussed by the Board in 2011 and published by June 30, 2012.

2/

Because a single report can have deletions falling into multiple categories, e.g., exchange rate, financial sector and/or other areas, there is no fixed relationship between the second column and the third and fourth column under each year.

3/

Based on World Economic Outlook definitions.

4/

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

Table 5.

Members Having Published All Article IV/UFR Staff Reports in 2011 1/2/3/4/

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1/

Includes groups of members and members’ territories.

2/

The members listed in this table had published all their Article IV/UFR staff reports considered by the Board in 2011, by June 30, 2012.

3/

Members who published all but one of their Article IV/UFR staff reports as of June 30, 2012 are: Burkina Faso, Honduras, Saint Lucia, and Uganda. Burkina Faso published its remaining staff report on July 2, 2012.

4/

This list does not reflect the 33 members that did not have an Article IV or UFR document considered by the Board in 2011: Argentina, Aruba, Azerbaijan, Bahrain, Bosnia, Cambodia, Central African Republic, Denmark, Ecuador, Egypt, Eritrea, Finland, Grenada, India, Jordan, Lebanon, Madagascar, Malawi, Malaysia, Namibia, Norway, Pakistan, Palau, Panama, Sao Tome and Principe, Serbia, Singapore, Somalia, Syria, Thailand, Tunisia, Uzbekistan and Venezuela.

Table 6.

Members That Did Not Publish Any Article IV/UFR Staff Reports in 2011 1/2/

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1/

The countries listed in this table had Article IV/UFR documents considered by the Board in 2011, but had not published these documents by June 30, 2012.

2/

For the Board meetings in 2011, Antigua and Barbuda, Brazil, Brunei, Djibouti, Equatorial Guinea, Ethiopia, Libya, Oman, Sri Lanka and Turkmenistan published their PINs.

Table 7.

Longest and Shortest Publication Lags for 2011 1/2/3/

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1/

Publication refers to documents considered by the Board in 2011 and published by June 30, 2012.

2/

Publication lags refer to calendar days between the Board date and the publication date.

3/

All documents covered in this table refer to Article IV/UFR documents.

4/

Includes groups of members and members’ territories.

1

See Public Information Notice (PIN) No. 05/116 on the Review of the Fund’s Transparency Policy (08/15/05) and The Fund’s Transparency Policy-Proposed Amendments (07/28/05).

2

Key Trends in Implementation of the Fund's Transparency Policy (07/06/11).

Key Trends in Implementation of the Fund’s Transparency Policy
Author: International Monetary Fund