IMF Policy Paper: Key Trends in Implementing the Fund’s Transparency Policy

International Monetary Fund

doi:10.5089/9781498345187.007.A001

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IMF Policy Paper: Key Trends in Implementing the Fund’s Transparency Policy

Author: International Monetary Fund

Publication Date:: 10 Dec 2016

eISBN:: 9781498345187

ISBN:: 9781498345187

Language:: English

Keywords:: PP; transparency Policy; International Monetary Fund Washington; D.C.; report; UFR staff report; transparency; country desk; UFR report; deletion request; publication lag

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Key Trends in Implementing the Fund's Transparency Policy

Abstract

Key Trends in Implementing the Fund's Transparency Policy

At the time of the 2005 Review of the Fund’s Transparency Policy, the Executive Board requested regular updates on trends in implementing the transparency policy. The tables in this report provide an overview of recent developments, updating the previous annual report on Key Trends with information on documents considered by the Board in 2015. Staff analyzes these trends in depth in the context of periodic reviews of the Fund’s Transparency Policy.

Table 1.

Trends in Publication Rates (2013-15) ^1/^2/

^{^1/}Refers to documents considered by the IMF Executive Board during the calendar year, and published within six months of the end of the calendar year; e.g. the publication rate for 2015 refers to documents discussed by the Board in 2015 and published by June 30, 2016. SMPs, which are for information only, are also included.

^{^2/}Data include documents issued for the Board’s consideration in a meeting or on a lapse-of-time basis.

^{^3/}Includes discussions held with members’ territories and currency unions in the context of Article IV consultations with their constituent members.

^{^4/}UFR staff reports include requests and reviews but exclude extensions and modifications, in accordance with the Transparency Policy.

^{^5/}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 FATF-style regional bodies (FSRB), issued on a stand-alone basis or in FSSAs. Does not include assessments under detailed standards assessments.

^{^6/}This item also includes “Public Information Notices”. However, following the 2013 Review of the Fund’s Transparency Policy, the term “Public Information Notice” (PIN) was discontinued and only press releases are used for external communication.

^{^7/}Includes Executive Directors’ Statements and “right of reply” documents. Does not include authorities’ statements that are included in ROSCs.

^{^8/}Includes LOIs/MEFPs and TMUs issued in the context of SMPs and PSIs.

^{^9/}The presumption of publication does not apply to certain papers dealing with administrative matters, for instance internal audits and papers on personnel and human resource issues.

Table 1.

Trends in Publication Rates (2013-15) ^1/^2/

	2013		2014		2015
Type of Report	Reports discussed	Published (percent)	Reports discussed	Published (percent)	Reports discussed	Published (percent)
Type of Report	All Documents	1009	91	984	93	922	92
Staff Reports	217	88	220	93	217	94
Article IV, UFR, or Combined	199	90	193	93	188	94
Stand-alone Article IV ^3/	107	85	112	92	113	92
Article IV combined with UFR, PPM, SMP, EPA, PSI	19	95	20	90	14	100
Stand-alone UFR ^4/	73	96	61	97	61	95
Stand-alone PPM, SMP, EPA, EPE, PSI	11	73	22	95	27	93
Joint Staff Advisory Note	7	71	5	60	1	100
HIPC Country Papers	0	n/a	0	n/a	1	100
Selected Issues/Statistical Annexes	66	83	78	90	84	90
FSSAs	11	82	10	70	9	78
ROSCs ^5/	47	83	32	72	20	90
Article IV Press Releases ^6/	113	96	108	92	102	98
UFR and PSI Chairman’s statements	86	100	92	99	80	95
Authorities’ statements ^7/	162	100	151	99	149	95
Country Policy Intention Documents	233	91	218	96	182	91
LOIs/MEFPs ^8/	147	94	134	97	118	93
TMUs ^8/	69	94	74	99	56	93
PRS documents	17	59	10	70	8	50
All Policy Papers	74	74	75	84	79	80
Policy Papers that are presumed to be published ^9/	62	89	66	95	68	93

^{^2/}Data include documents issued for the Board’s consideration in a meeting or on a lapse-of-time basis.

^{^3/}Includes discussions held with members’ territories and currency unions in the context of Article IV consultations with their constituent members.

^{^4/}UFR staff reports include requests and reviews but exclude extensions and modifications, in accordance with the Transparency Policy.

^{^7/}Includes Executive Directors’ Statements and “right of reply” documents. Does not include authorities’ statements that are included in ROSCs.

^{^8/}Includes LOIs/MEFPs and TMUs issued in the context of SMPs and PSIs.

^{^9/}The presumption of publication does not apply to certain papers dealing with administrative matters, for instance internal audits and papers on personnel and human resource issues.

Table 1.

Trends in Publication Rates (2013-15) ^1/^2/

	2013		2014		2015
Type of Report	Reports discussed	Published (percent)	Reports discussed	Published (percent)	Reports discussed	Published (percent)
Type of Report	All Documents	1009	91	984	93	922	92
Staff Reports	217	88	220	93	217	94
Article IV, UFR, or Combined	199	90	193	93	188	94
Stand-alone Article IV ^3/	107	85	112	92	113	92
Article IV combined with UFR, PPM, SMP, EPA, PSI	19	95	20	90	14	100
Stand-alone UFR ^4/	73	96	61	97	61	95
Stand-alone PPM, SMP, EPA, EPE, PSI	11	73	22	95	27	93
Joint Staff Advisory Note	7	71	5	60	1	100
HIPC Country Papers	0	n/a	0	n/a	1	100
Selected Issues/Statistical Annexes	66	83	78	90	84	90
FSSAs	11	82	10	70	9	78
ROSCs ^5/	47	83	32	72	20	90
Article IV Press Releases ^6/	113	96	108	92	102	98
UFR and PSI Chairman’s statements	86	100	92	99	80	95
Authorities’ statements ^7/	162	100	151	99	149	95
Country Policy Intention Documents	233	91	218	96	182	91
LOIs/MEFPs ^8/	147	94	134	97	118	93
TMUs ^8/	69	94	74	99	56	93
PRS documents	17	59	10	70	8	50
All Policy Papers	74	74	75	84	79	80
Policy Papers that are presumed to be published ^9/	62	89	66	95	68	93

^{^2/}Data include documents issued for the Board’s consideration in a meeting or on a lapse-of-time basis.

^{^3/}Includes discussions held with members’ territories and currency unions in the context of Article IV consultations with their constituent members.

^{^4/}UFR staff reports include requests and reviews but exclude extensions and modifications, in accordance with the Transparency Policy.

^{^7/}Includes Executive Directors’ Statements and “right of reply” documents. Does not include authorities’ statements that are included in ROSCs.

^{^8/}Includes LOIs/MEFPs and TMUs issued in the context of SMPs and PSIs.

^{^9/}The presumption of publication does not apply to certain papers dealing with administrative matters, for instance internal audits and papers on personnel and human resource issues.

Table 2.

Trends in Publication Rates of Article IV and UFR Staff Reports (2013-15) ^1/

(By economic and regional characteristics)

^{^1/}Refers to documents considered by the IMF Executive Board during the calendar year, and published within six months of the end of the calendar year; e.g. the publication rate for 2015 refers to the documents discussed by the Board in 2015 and published by June 30, 2016.

^{^2/}Based on World Economic Outlook definitions. Includes discussions held with members’ territories and currency unions in the context of Article IV consultations with their constituent members.

Table 2.

Trends in Publication Rates of Article IV and UFR Staff Reports (2013-15) ^1/

(By economic and regional characteristics)

Reports by group ^2/	2013		2014		2015
Reports by group ^2/	Reports discussed	Published (percent)	Reports discussed	Published (percent)	Reports discussed	Published (percent)
Article IV, UFR and combined staff reports	199	90	193	93	188	94
Advanced markets	41	100	39	100	30	100
Emerging markets	88	83	88	91	81	94
Developing countries	70	93	66	92	77	91
Emerging market and developing countries	158	87	154	92	159	92
Africa	55	95	46	98	51	96
Asia	25	88	26	92	28	93
Central and Eastern Europe	15	100	13	100	16	100
CIS and Mongolia	14	86	13	92	13	77
Middle East	18	83	20	95	20	90
Western Hemisphere	31	71	36	78	31	90

^{^1/}Refers to documents considered by the IMF Executive Board during the calendar year, and published within six months of the end of the calendar year; e.g. the publication rate for 2015 refers to the documents discussed by the Board in 2015 and published by June 30, 2016.

Table 2.

Trends in Publication Rates of Article IV and UFR Staff Reports (2013-15) ^1/

(By economic and regional characteristics)

Reports by group ^2/	2013		2014		2015
Reports by group ^2/	Reports discussed	Published (percent)	Reports discussed	Published (percent)	Reports discussed	Published (percent)
Article IV, UFR and combined staff reports	199	90	193	93	188	94
Advanced markets	41	100	39	100	30	100
Emerging markets	88	83	88	91	81	94
Developing countries	70	93	66	92	77	91
Emerging market and developing countries	158	87	154	92	159	92
Africa	55	95	46	98	51	96
Asia	25	88	26	92	28	93
Central and Eastern Europe	15	100	13	100	16	100
CIS and Mongolia	14	86	13	92	13	77
Middle East	18	83	20	95	20	90
Western Hemisphere	31	71	36	78	31	90

^{^1/}Refers to documents considered by the IMF Executive Board during the calendar year, and published within six months of the end of the calendar year; e.g. the publication rate for 2015 refers to the documents discussed by the Board in 2015 and published by June 30, 2016.

Table 3.

Trends in Publication Lags (2013-15) ^1/^2/

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

^{^1/}Refers to documents considered by the IMF Executive Board during the calendar year, and published within six months of the end of the calendar year; e.g. the publication rate for 2015 refers to the documents discussed by the Board in 2015 and published by June 30, 2016. Publication lags refer to calendar days between the Board date and the publication date.

^{^2/}Data include documents issued for the Board’s consideration in a meeting or on a lapse-of-time basis. It also includes SMPs, which are for information only.

^{^3/}Based on World Economic Outlook definitions. Also includes discussions held with members’ territories and currency unions in the context of Article IV consultations with their constituent members.

^{^4/}Number of calendar days.

^{^5/}This item also includes “Public Information Notices”. However, following the 2013 Review of the Fund’s Transparency Policy, the term “Public Information Notice” (PIN) was discontinued and only press releases are used for external communication.

^{^6/}Includes LOIs/MEFPs/TMUs issued in the context of SMPs and PSIs.

^{^7/}Only includes policy papers for which publication is presumed.

Table 3.

Trends in Publication Lags (2013-15) ^1/^2/

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

	2013				2014				2015
Reports by type and group ^3/	Number published	Average lag ^4/	percent with lag > 1 month	percent with lag > 2 month	Number published	Average lag 4/	percent with lag > 1 month	percent with lag > 2 month	Number published	Average lag ^4/	percent with lag > 1 month	percent with lag > 2 month
Article IV, UFR and Combined staff reports	179	23	24	9	180	23	17	8	176	20	17	3
Article IV	91	26	30	14	103	18	17	8	104	23	17	5
Combined	18	30	22	17	18	31	33	11	14	23	29	7
UFR	70	14	17	1	59	21	14	7	58	14	14	0
Advanced markets	41	6	0	0	39	9	0	0	30	5	0	0
Emerging markets	73	30	38	16	80	25	21	9	76	19	21	4
Developing countries	65	26	23	8	61	24	20	8	70	25	20	4
Emerging market and developing countries	138	31	35	5	141	22	18	4	147	22	21	5
Africa	52	23	23	12	45	27	24	11	49	19	20	2
Asia	22	18	32	0	24	20	13	0	26	17	12	0
Central and Eastern Europe	15	11	7	0	13	15	0	0	16	9	6	0
CIS and Mongolia	12	60	67	6	12	26	17	2	10	31	40	10
Middle East	15	40	47	4	19	23	21	2	18	25	17	6
Western Hemisphere	22	33	36	12	28	21	32	9	28	29	32	11
Selected other documents
FSSAs	9	28	33	22	7	30	29	14	7	58	57	14
Selected Issues/Statistical Annexes	55	24	33	15	70	18	21	7	76	23	18	9
Article IV Press Releases ^5/	108	19	17	6	99	18	16	8	100	12	4	1
UFR and PSI Chairman’s statements	86	7	8	1	91	19	13	8	76	5	4	1
Country Policy Intention Documents ^6/	213	12	17	2	210	21	6	3	166	2	11	0
Policy papers ^7/	55	22	1	1	63	24	1	1	63	23	2	1

^{^1/}Refers to documents considered by the IMF Executive Board during the calendar year, and published within six months of the end of the calendar year; e.g. the publication rate for 2015 refers to the documents discussed by the Board in 2015 and published by June 30, 2016. Publication lags refer to calendar days between the Board date and the publication date.

^{^2/}Data include documents issued for the Board’s consideration in a meeting or on a lapse-of-time basis. It also includes SMPs, which are for information only.

^{^4/}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.

Table 3.

Trends in Publication Lags (2013-15) ^1/^2/

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

	2013				2014				2015
Reports by type and group ^3/	Number published	Average lag ^4/	percent with lag > 1 month	percent with lag > 2 month	Number published	Average lag 4/	percent with lag > 1 month	percent with lag > 2 month	Number published	Average lag ^4/	percent with lag > 1 month	percent with lag > 2 month
Article IV, UFR and Combined staff reports	179	23	24	9	180	23	17	8	176	20	17	3
Article IV	91	26	30	14	103	18	17	8	104	23	17	5
Combined	18	30	22	17	18	31	33	11	14	23	29	7
UFR	70	14	17	1	59	21	14	7	58	14	14	0
Advanced markets	41	6	0	0	39	9	0	0	30	5	0	0
Emerging markets	73	30	38	16	80	25	21	9	76	19	21	4
Developing countries	65	26	23	8	61	24	20	8	70	25	20	4
Emerging market and developing countries	138	31	35	5	141	22	18	4	147	22	21	5
Africa	52	23	23	12	45	27	24	11	49	19	20	2
Asia	22	18	32	0	24	20	13	0	26	17	12	0
Central and Eastern Europe	15	11	7	0	13	15	0	0	16	9	6	0
CIS and Mongolia	12	60	67	6	12	26	17	2	10	31	40	10
Middle East	15	40	47	4	19	23	21	2	18	25	17	6
Western Hemisphere	22	33	36	12	28	21	32	9	28	29	32	11
Selected other documents
FSSAs	9	28	33	22	7	30	29	14	7	58	57	14
Selected Issues/Statistical Annexes	55	24	33	15	70	18	21	7	76	23	18	9
Article IV Press Releases ^5/	108	19	17	6	99	18	16	8	100	12	4	1
UFR and PSI Chairman’s statements	86	7	8	1	91	19	13	8	76	5	4	1
Country Policy Intention Documents ^6/	213	12	17	2	210	21	6	3	166	2	11	0
Policy papers ^7/	55	22	1	1	63	24	1	1	63	23	2	1

^{^1/}Refers to documents considered by the IMF Executive Board during the calendar year, and published within six months of the end of the calendar year; e.g. the publication rate for 2015 refers to the documents discussed by the Board in 2015 and published by June 30, 2016. Publication lags refer to calendar days between the Board date and the publication date.

^{^2/}Data include documents issued for the Board’s consideration in a meeting or on a lapse-of-time basis. It also includes SMPs, which are for information only.

^{^4/}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.

Table 4a.

Deletions in Article IV and UFR Staff Reports (2013-15) ^1/^2/

(Percent of all published reports, unless otherwise indicated)

^{^1/}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 2015 refers to the documents discussed by the Board in 2015 and published by June 30, 2016.

^{^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. Also includes discussions held with members’ territories and currency unions in the context of Article IV consultations with their constituent members.

Table 4a.

Deletions in Article IV and UFR Staff Reports (2013-15) ^1/^2/

(Percent of all published reports, unless otherwise indicated)

Reports by group ^3/	Number published	2013			Number published	2014			Number published	2015
Reports by group ^3/	Number published	With deletions	With deletions on exch. rate issues	With deletions on fin. sector issues	Number published	With deletions	With deletions on exch. rate issues	With deletions on fin. sector issues	Number published	With deletions	With deletions on exch. rate issues	With deletions on fin. sector issues
All Article IV and UFR reports	179	17	4	8	180	19	6	7	176	11	4	7
Advanced markets	41	32	2	27	39	23	0	8	30	13	3	10
EU	31	39	3	32	26	12	0	4	18	11	0	11
Other Europe	4	25	0	25	3	0	0	0	4	50	25	25
ROW	6	0	0	0	10	60	0	20	7	0	0	0
Emerging markets	73	19	7	4	80	26	11	11	76	16	7	11
Developing countries	65	5	2	2	61	8	2	0	70	4	1	3
Emerging market and developing countries	138	12	4	3	141	18	7	6	147	10	4	7
Africa	52	8	2	2	45	9	0	2	49	2	0	2
Asia	22	14	9	0	24	21	4	0	26	8	4	8
Central and Eastern Europe	15	7	0	7	13	15	0	0	16	6	0	6
CIS and Mongolia	12	25	17	0	12	58	42	33	10	30	10	20
Middle East	15	20	0	7	19	16	5	0	18	11	11	6
Western Hemisphere	22	14	5	5	28	32	11	14	28	21	7	11

Table 4a.

Deletions in Article IV and UFR Staff Reports (2013-15) ^1/^2/

(Percent of all published reports, unless otherwise indicated)

Reports by group ^3/	Number published	2013			Number published	2014			Number published	2015
Reports by group ^3/	Number published	With deletions	With deletions on exch. rate issues	With deletions on fin. sector issues	Number published	With deletions	With deletions on exch. rate issues	With deletions on fin. sector issues	Number published	With deletions	With deletions on exch. rate issues	With deletions on fin. sector issues
All Article IV and UFR reports	179	17	4	8	180	19	6	7	176	11	4	7
Advanced markets	41	32	2	27	39	23	0	8	30	13	3	10
EU	31	39	3	32	26	12	0	4	18	11	0	11
Other Europe	4	25	0	25	3	0	0	0	4	50	25	25
ROW	6	0	0	0	10	60	0	20	7	0	0	0
Emerging markets	73	19	7	4	80	26	11	11	76	16	7	11
Developing countries	65	5	2	2	61	8	2	0	70	4	1	3
Emerging market and developing countries	138	12	4	3	141	18	7	6	147	10	4	7
Africa	52	8	2	2	45	9	0	2	49	2	0	2
Asia	22	14	9	0	24	21	4	0	26	8	4	8
Central and Eastern Europe	15	7	0	7	13	15	0	0	16	6	0	6
CIS and Mongolia	12	25	17	0	12	58	42	33	10	30	10	20
Middle East	15	20	0	7	19	16	5	0	18	11	11	6
Western Hemisphere	22	14	5	5	28	32	11	14	28	21	7	11

Table 4b.

Deletions in 2015^1/

(Percent of all deletions requested by income group and region, unless otherwise indicated)

^{^1/}Figures refer to deletions made to staff reports for Article IV consultations and use of Fund resources as well as associated documents (e.g. selected issues papers, informational annexes, etc.) that went before the Board from January 1, 2015 to December 31, 2015.

^{^2/}Based on World Economic Outlook definitions. Also includes discussions held with members’ territories and currency unions in the context of Article IV consultations with their constituent members.

^{^3/}This aggregate includes deletion requests received by country desks and reviewed by SPR; it does not include requests received and rejected by country teams that were not forwarded to SPR for review. Each deletion is counted separately, implying that there may be multiple deletion requests for each document.

^{^4/}Partially rejected deletions include items where only part of the requested deletion was accepted or where the deletion was reformulated and then accepted.

^{^5/}Deletions may be made on the basis of market sensitivity when the material is not already in the public domain, is market-relevant within the near term, and is sufficiently specific to create a clear risk of triggering a disruptive market sensitivity when the material is not already in the public domain, is market-relevant within the near term, and is sufficiently specific to create a clear risk of triggering a disruptive market

^{^6/}Deletions my be made on the basis of premature disclosure of policy intentions where material is not already in the public domain, the information consists of operational details of a policy the authorities intend to implement, and premature disclosure of the operational details would, in itself, seriously undermine the ability of the authorities to implement it.

Table 4b.

Deletions in 2015^1/

(Percent of all deletions requested by income group and region, unless otherwise indicated)

Reports by group ^2/						Reason deletion requests were rejected^5/^6/
Reports by group ^2/	Number of deletion requests ^3/	Approved	Of which: Partially rejected^4/	Rejected	Rejected, but subsequently approved by Management	Information is already in the public domain	Information is sufficiently general not to trigger market disruption in near term	Inclusion of information in staff report does not impedeability to implement new policy	Other
All Article IV, UFR and combined reports	93	67	23	33	0	9	25	0	0
Advanced markets	9	78	11	22	0	11	11	0	0
EU	5	60	20	40	0	20	20	0	0
Other Europe	4	100	0	0	0	0	0	0	0
ROW	0	0	0	0	0	0	0	0	0
Emerging markets	76	66	21	34	0	9	25	0	0
Developing countries	8	63	50	38	0	0	38	0	0
Emerging market and developing countries
Africa	1	100	100	0	0	0	0	0	0
Asia	19	63	26	37	0	5	32	0	0
Central and Eastern Europe	2	100	50	0	0	0	0	0	0
CIS and Mongolia	17	59	18	41	0	24	18	0	0
Middle East	26	58	15	42	0	0	42	0	0
Western Hemisphere	19	79	32	21	0	11	11	0	0
Countries with fixed or crawling pegs or bands	53	64	21	36	0	6	30	0	0
Countries with other exchange rate regimes	41	68	24	32	0	12	20	0	0

^{^4/}Partially rejected deletions include items where only part of the requested deletion was accepted or where the deletion was reformulated and then accepted.

Table 4b.

Deletions in 2015^1/

(Percent of all deletions requested by income group and region, unless otherwise indicated)

Reports by group ^2/						Reason deletion requests were rejected^5/^6/
Reports by group ^2/	Number of deletion requests ^3/	Approved	Of which: Partially rejected^4/	Rejected	Rejected, but subsequently approved by Management	Information is already in the public domain	Information is sufficiently general not to trigger market disruption in near term	Inclusion of information in staff report does not impedeability to implement new policy	Other
All Article IV, UFR and combined reports	93	67	23	33	0	9	25	0	0
Advanced markets	9	78	11	22	0	11	11	0	0
EU	5	60	20	40	0	20	20	0	0
Other Europe	4	100	0	0	0	0	0	0	0
ROW	0	0	0	0	0	0	0	0	0
Emerging markets	76	66	21	34	0	9	25	0	0
Developing countries	8	63	50	38	0	0	38	0	0
Emerging market and developing countries
Africa	1	100	100	0	0	0	0	0	0
Asia	19	63	26	37	0	5	32	0	0
Central and Eastern Europe	2	100	50	0	0	0	0	0	0
CIS and Mongolia	17	59	18	41	0	24	18	0	0
Middle East	26	58	15	42	0	0	42	0	0
Western Hemisphere	19	79	32	21	0	11	11	0	0
Countries with fixed or crawling pegs or bands	53	64	21	36	0	6	30	0	0
Countries with other exchange rate regimes	41	68	24	32	0	12	20	0	0

^{^4/}Partially rejected deletions include items where only part of the requested deletion was accepted or where the deletion was reformulated and then accepted.

Table 5a.

Corrections in Article IV and UFR Staff Reports (2013-15)^1/^2/

(Percent of all published reports, unless otherwise indicated)

^{^1/}Refers to documents considered by the IMF Executive Board during the calendar year, and published within six months of the end of the calendar year; e.g. the publication rate for 2015 refers to the documents discussed by the Board in 2015 and published by June 30, 2016.

^{^2/}Because a single report can have corrections 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.

Table 5a.

Corrections in Article IV and UFR Staff Reports (2013-15)^1/^2/

(Percent of all published reports, unless otherwise indicated)

Reports by group ^3/	Number published	2013			Number published	2014			Number published	2015
Reports by group ^3/	Number published	With corrections	With corrections for evident ambiguity	With corrections for mischaracterization	Number published	With corrections	With corrections for evident ambiguity	With corrections for mischaracterization	Number published	With corrections	With corrections for evident ambiguity	With corrections formischaracterization
All Article IV and UFR reports	179	72	41	20	180	74	39	23	176	76	45	18
Advanced markets	41	93	73	46	39	92	79	33	30	97	80	57
EU	31	94	74	42	26	85	73	27	18	83	89	67
Other Europe	4	100	75	75	3	100	67	67	4	100	50	25
ROW	6	83	67	50	10	100	90	40	7	100	71	57
Emerging markets	73	89	52	21	80	94	41	31	76	96	62	16
Developing countries	65	40	8	2	61	38	11	5	70	46	11	4
Emerging market and developing countries	138	66	31	12	141	70	28	20	147	72	38	10
Africa	52	56	19	6	45	44	18	9	49	57	12	4
Asia	22	77	45	27	24	58	25	29	26	69	42	8
Central and Eastern Europe	15	53	40	13	13	92	54	23	16	88	50	0
CIS and Mongolia	12	75	25	8	12	75	33	17	10	100	60	20
Middle East	15	67	33	13	19	89	21	32	18	83	50	22
Western Hemisphere	22	82	41	9	28	96	43	21	28	89	57	18

^{^1/}Refers to documents considered by the IMF Executive Board during the calendar year, and published within six months of the end of the calendar year; e.g. the publication rate for 2015 refers to the documents discussed by the Board in 2015 and published by June 30, 2016.

Table 5a.

Corrections in Article IV and UFR Staff Reports (2013-15)^1/^2/

(Percent of all published reports, unless otherwise indicated)

Reports by group ^3/	Number published	2013			Number published	2014			Number published	2015
Reports by group ^3/	Number published	With corrections	With corrections for evident ambiguity	With corrections for mischaracterization	Number published	With corrections	With corrections for evident ambiguity	With corrections for mischaracterization	Number published	With corrections	With corrections for evident ambiguity	With corrections formischaracterization
All Article IV and UFR reports	179	72	41	20	180	74	39	23	176	76	45	18
Advanced markets	41	93	73	46	39	92	79	33	30	97	80	57
EU	31	94	74	42	26	85	73	27	18	83	89	67
Other Europe	4	100	75	75	3	100	67	67	4	100	50	25
ROW	6	83	67	50	10	100	90	40	7	100	71	57
Emerging markets	73	89	52	21	80	94	41	31	76	96	62	16
Developing countries	65	40	8	2	61	38	11	5	70	46	11	4
Emerging market and developing countries	138	66	31	12	141	70	28	20	147	72	38	10
Africa	52	56	19	6	45	44	18	9	49	57	12	4
Asia	22	77	45	27	24	58	25	29	26	69	42	8
Central and Eastern Europe	15	53	40	13	13	92	54	23	16	88	50	0
CIS and Mongolia	12	75	25	8	12	75	33	17	10	100	60	20
Middle East	15	67	33	13	19	89	21	32	18	83	50	22
Western Hemisphere	22	82	41	9	28	96	43	21	28	89	57	18

^{^1/}Refers to documents considered by the IMF Executive Board during the calendar year, and published within six months of the end of the calendar year; e.g. the publication rate for 2015 refers to the documents discussed by the Board in 2015 and published by June 30, 2016.

Table 5b.

Corrections in 2015 ^1/^2/

(Percent of all corrections requested by income group and region, unless otherwise indicated)

^{^1/}Figures refer to corrections made to staff reports for Article IV consultations and use of Fund resources as well as associated documents (e.g. selected issues papers, informational annexes, etc.) that went before the Board from January 1, 2015 to December 31, 2015.

^{^2/}Certain corrections are subject to Staff review as per the Transparency Policy (http://www.imf.org/external/np/pp/eng/2009/102609.pdf) and the 2013 Transparency Policy Review (http://www.imf.org/external/np/pp/eng/2013/051413.pdf). As per the policy, corrections to staff reports cannot be used to improve the presentation, extend staff’s or the authorities arguments, alter staff’s assessment, or introduce any new information.

^{^4/}This aggregate includes correction requests received by country desks and reviewed by SPR; it does not include requests received and rejected by country teams that were not forwarded to SPR for review. Each correction is counted separately, implying that there may be multiple correction requests for each document.

^{^5/}Partially rejected corrections include items where the requested correction was reclassified or reformulated and then accepted.

^{^6/}Corrections may only be made after the Board date if the correction is brought to the attention of the Board before the conclusion of the Board’s consideration of the document, or the failure to make the correction would undermine the overall value of the publication.

Table 5b.

Corrections in 2015 ^1/^2/

(Percent of all corrections requested by income group and region, unless otherwise indicated)

Reports by group ^3/
						Reason correction requests were rejected
	Number of correction requests ^4/	Approved	Of which: Partially rejected ^5/	Rejected	Rejected, but subsequently approved by Management	Alters staff assessment	Attempts to improve presentation	Extends argument/ Introduces new information	Does not meet post-Board criteria^6/	Other
All Article IV, UFR or combined reports	1,613	87	17	13	0	1	4	6	1	1
Advanced markets	594	87	17	13	0	1	6	6	0	1
EU	379	85	17	15	0	1	6	7	0	1
Other Europe	94	88	13	12	0	0	6	5	0	0
ROW	119	92	19	8	0	2	3	3	0	0
Emerging markets	787	87	17	13	0	1	3	6	2	1
Developing countries	232	84	15	16	0	0	7	5	3	0
Emerging market and developing countries
Africa	128	87	13	13	0	0	7	2	4	1
Asia	246	85	12	15	0	0	5	7	0	2
Central and Eastern Europe	122	96	17	4	0	1	2	1	1	0
CIS and Mongolia	112	85	19	15	0	4	2	6	1	3
Middle East	135	89	21	11	0	1	3	1	5	1
Western Hemisphere	278	83	20	17	0	0	4	10	3	1
Countries with fixed or crawling pegs or bands	662	85	17	15	0	1	5	6	2	1
Countries with other exchange rate regimes	951	88	17	12	0	1	4	5	1	1

^{^5/}Partially rejected corrections include items where the requested correction was reclassified or reformulated and then accepted.

Table 5b.

Corrections in 2015 ^1/^2/

(Percent of all corrections requested by income group and region, unless otherwise indicated)

Reports by group ^3/
						Reason correction requests were rejected
	Number of correction requests ^4/	Approved	Of which: Partially rejected ^5/	Rejected	Rejected, but subsequently approved by Management	Alters staff assessment	Attempts to improve presentation	Extends argument/ Introduces new information	Does not meet post-Board criteria^6/	Other
All Article IV, UFR or combined reports	1,613	87	17	13	0	1	4	6	1	1
Advanced markets	594	87	17	13	0	1	6	6	0	1
EU	379	85	17	15	0	1	6	7	0	1
Other Europe	94	88	13	12	0	0	6	5	0	0
ROW	119	92	19	8	0	2	3	3	0	0
Emerging markets	787	87	17	13	0	1	3	6	2	1
Developing countries	232	84	15	16	0	0	7	5	3	0
Emerging market and developing countries
Africa	128	87	13	13	0	0	7	2	4	1
Asia	246	85	12	15	0	0	5	7	0	2
Central and Eastern Europe	122	96	17	4	0	1	2	1	1	0
CIS and Mongolia	112	85	19	15	0	4	2	6	1	3
Middle East	135	89	21	11	0	1	3	1	5	1
Western Hemisphere	278	83	20	17	0	0	4	10	3	1
Countries with fixed or crawling pegs or bands	662	85	17	15	0	1	5	6	2	1
Countries with other exchange rate regimes	951	88	17	12	0	1	4	5	1	1

^{^5/}Partially rejected corrections include items where the requested correction was reclassified or reformulated and then accepted.

Table 6.

Members that Published All Article IV/UFR Staff Reports in 2015 ^1/^2/^3/^4/

^{^1/}Includes discussions held with members’ territories and currency unions in the context of Article IV consultations with their constituent members.

^{^2/}The members listed in this table had published all their Article IV and/or all their UFR staff reports considered by the Board in 2015, by June 30, 2016.

^{^3/}Member countries who published at least one of their Article IV/UFR staff reports in 2015 are Central African Republic, Comoros, Djibouti, and Dominica.

^{^4/}This list does not reflect the 48 members and members’ territories that did not have an Article IV or UFR document considered by the Board in 2015: Algeria, Antigua and Barbuda, Argentina, Austria, Azerbaijan, Bahrain, Bhutan, Botswana, Cabo Verde, Denmark, Dominican Republic, El Salvador, Eritrea, Fiji, Georgia, Greece, Guatemala, Guyana, Hong Kong SAR, Lesotho, Libya, Macao SAR, Marshall Islands, Mauritius, Netherlands, New Zealand, Nicaragua, Palau, Romania, Rwanda, Senegal, Slovak Republic, South Africa, South Sudan, Sri Lanka, St. Lucia, Sudan, Suriname, Syria, Tanzania, Timor-Leste, Trinidad and Tobago, Turkey, Tuvalu, United Kingdom, Venezuela, Vietnam, Yemen, and Zimbabwe.

Table 7a.

Members Not Publishing Article IV Reports in 2015^1/^2/

^{^1/}These members had Article IV documents considered by the Board in 2015 (including for discussions with currency unions in the context of Article IV consultations with their constituent members), but had not published these documents by June 30, 2016.

^{^2/}All these members published Press Releases except Dominica and Suriname.

Table 7b.

Members Not Publishing All UFR Staff Reports in 2015 ^1/

^{^1/}These members had UFR staff reports considered by the Board in 2015, but had not published all of these documents by June 30, 2016. UFR staff reports include requests and reviews but exclude extensions and modifications, in accordance with the Transparency Policy.

^{^2/}This member published a Press Release following Board consideration of this document.

Table 8.

Longest and Shortest Publication Lags for 2015 ^1/^2/^3/

^{^1/}Publication refers to Article IV and UFR documents considered by the Board in 2015, and published by June 30, 2016.

^{^2/}Publication lags refer to calendar days between the Board date and the publication date.

^{^3/}Includes discussions held with members’ territories and currency unions in the context of Article IV consultations with their constituent members.

Table 8.

Longest and Shortest Publication Lags for 2015 ^1/^2/^3/

	Shortest Publication Lag			Longest Publication Lag
Board Date	Country ^3/	Days	Board Date	Country ^3/	Days
7/24/2015	Euro Area	0	1/30/2015	Djibouti	319
3/11/2015	Ukraine	1	2/4/2015	Saint Vincent and the Grenadines	222
5/20/2015	Kosovo	1	9/16/2015	Belize	194
6/15/2015	Mali	1	12/4/2015	Kyrgyz Republic	80
7/6/2015	United States	1	6/10/2015	Panama	70
9/23/2015	Jamaica	1	7/17/2015	Congo, Republic of	61
11/23/2015	Mexico	1	3/16/2015	Brazil	57
12/16/2015	Jamaica	1	7/20/2015	Equatorial Guinea	57
1/28/2015	Canada	2	12/14/2015	Morocco	56
3/23/2015	Ireland	2	6/1/2015	Samoa	49
3/25/2015	Romania	2	6/5/2015	Burkina Faso	49
7/8/2015	France	2	6/8/2015	Bahamas	49
7/27/2015	Somalia	2	6/17/2015	Colombia	47
7/29/2015	Kosovo	2	3/18/2015	Guinea	44
9/23/2015	Cyprus	2	1/14/2015	Laos	43
11/16/2015	Nepal	2	7/29/2015	Saudi Arabia	42
11/30/2015	Sweden	2	9/2/2015	Congo, Democratic Republic of	41
2/2/2015	Kenya	3	9/14/2015	Central African Republic	39
2/23/2015	Malta	3	9/21/2015	Ethiopia	39
2/23/2015	Serbia	3	3/30/2015	Thailand	38
5/1/2015	Latvia	3	5/18/2015	Haiti	37
12/10/2015	Estonia	4	2/18/2015	Uruguay	36
2/23/2015	Liberia	4	4/8/2015	Kyrgyz Republic	36
3/9/2015	Iceland	4	7/29/2015	Kazakhstan	36
3/30/2015	Jamaica	4	6/17/2015	Seychelles	35
5/11/2015	Micronesia	4	12/16/2015	Moldova	35
6/19/2015	Cyprus	4	12/21/2015	Kosovo	35
7/10/2015	Poland	4	9/11/2015	Honduras	33
7/31/2015	Nepal	4	2/27/2015	Nigeria	31
7/31/2015	Ukraine	4	12/14/2013	Seychelles	3410

^{^1/}Publication refers to Article IV and UFR documents considered by the Board in 2015, and published by June 30, 2016.

^{^2/}Publication lags refer to calendar days between the Board date and the publication date.

^{^3/}Includes discussions held with members’ territories and currency unions in the context of Article IV consultations with their constituent members.

Table 8.

Longest and Shortest Publication Lags for 2015 ^1/^2/^3/

	Shortest Publication Lag			Longest Publication Lag
Board Date	Country ^3/	Days	Board Date	Country ^3/	Days
7/24/2015	Euro Area	0	1/30/2015	Djibouti	319
3/11/2015	Ukraine	1	2/4/2015	Saint Vincent and the Grenadines	222
5/20/2015	Kosovo	1	9/16/2015	Belize	194
6/15/2015	Mali	1	12/4/2015	Kyrgyz Republic	80
7/6/2015	United States	1	6/10/2015	Panama	70
9/23/2015	Jamaica	1	7/17/2015	Congo, Republic of	61
11/23/2015	Mexico	1	3/16/2015	Brazil	57
12/16/2015	Jamaica	1	7/20/2015	Equatorial Guinea	57
1/28/2015	Canada	2	12/14/2015	Morocco	56
3/23/2015	Ireland	2	6/1/2015	Samoa	49
3/25/2015	Romania	2	6/5/2015	Burkina Faso	49
7/8/2015	France	2	6/8/2015	Bahamas	49
7/27/2015	Somalia	2	6/17/2015	Colombia	47
7/29/2015	Kosovo	2	3/18/2015	Guinea	44
9/23/2015	Cyprus	2	1/14/2015	Laos	43
11/16/2015	Nepal	2	7/29/2015	Saudi Arabia	42
11/30/2015	Sweden	2	9/2/2015	Congo, Democratic Republic of	41
2/2/2015	Kenya	3	9/14/2015	Central African Republic	39
2/23/2015	Malta	3	9/21/2015	Ethiopia	39
2/23/2015	Serbia	3	3/30/2015	Thailand	38
5/1/2015	Latvia	3	5/18/2015	Haiti	37
12/10/2015	Estonia	4	2/18/2015	Uruguay	36
2/23/2015	Liberia	4	4/8/2015	Kyrgyz Republic	36
3/9/2015	Iceland	4	7/29/2015	Kazakhstan	36
3/30/2015	Jamaica	4	6/17/2015	Seychelles	35
5/11/2015	Micronesia	4	12/16/2015	Moldova	35
6/19/2015	Cyprus	4	12/21/2015	Kosovo	35
7/10/2015	Poland	4	9/11/2015	Honduras	33
7/31/2015	Nepal	4	2/27/2015	Nigeria	31
7/31/2015	Ukraine	4	12/14/2013	Seychelles	3410

^{^1/}Publication refers to Article IV and UFR documents considered by the Board in 2015, and published by June 30, 2016.

^{^2/}Publication lags refer to calendar days between the Board date and the publication date.

^{^3/}Includes discussions held with members’ territories and currency unions in the context of Article IV consultations with their constituent members.

Table 9.

Members Requesting Explicit Consent Prior to Publication^1/

^{^1/}Under the Transparency Policy, a member’s consent to publish is typically obtained on a “nonobjection” basis. However, a member may “opt out” of the “non-objection” system, in which case the member’s explicit consent is required prior to publication of its country and related policy intention documents. See: http://www.imf.org/external/np/pp/eng/2014/040714.pdf.

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Key Trends in Implementing the Fund's Transparency Policy

Author: International Monetary Fund

Volume/Issue:: Volume 2016: Issue 069

Publisher:: International Monetary Fund

ISBN:: 9781498345187

ISSN:: 2663-3493

Pages:: 14

DOI:: https://doi.org/10.5089/9781498345187.007

Keywords

Afghanistan, Islamic Republic of	India	Qatar
Albania	Indonesia	Russia
Angola	Iran, Islamic Republic of	Samoa
Armenia	Iraq	San Marino
Aruba	Ireland	São Tomé Príncipe
Australia	Israel	Saudi Arabia
Bahamas, The	Italy	Serbia
Bangladesh	Jamaica	Seychelles
Belarus	Japan	Sierra Leone
Belgium	Jordan	Singapore
Belize	Kazakhstan	Slovenia
Benin	Kenya	Solomon Islands
Bolivia	Kiribati	Somalia
Bosnia and Herzegovina	Korea	Spain
Brazil	Kosovo	St. Kitts and Nevis
Bulgaria	Kuwait	St. Vincent and the Grenadines
Burkina Faso	Kyrgyz Republic	Swaziland
Burundi	Lao PDR	Sweden
Cambodia	Latvia	Switzerland
Cameroon	Lebanon	Thailand
Canada	Liberia	Togo
CEMAC	Lithuania	Tonga
Chad	Luxembourg	Tunisia
Chile	Macedonia, FYR	Uganda
China	Madagascar	Ukraine
Colombia	Malawi	United Arab Emirates
Congo, Democratic Republic of	Malaysia	United States
Congo, Republic of	Maldives	Uruguay
Costa Rica	Mali	Vanuatu
Côte d’Ivoire	Malta	WAEMU
Croatia	Mauritania	Zambia
Cyprus	Mexico
Czech Republic	Micronesia
Ecuador	Moldova
Egypt	Mongolia
Equatorial Guinea	Montenegro
Estonia	Morocco
Ethiopia	Mozambique
Euro Area	Myanmar
Finland	Namibia
France	Nepal
Gabon	Niger
Gambia, The	Nigeria
Germany	Norway
Ghana	Pakistan
Grenada	Panama
Guinea	Papua New Guinea
Guinea-Bissau	Paraguay
Haiti	Peru
Honduras	Philippines
Hungary	Poland
Iceland	Portugal

Afghanistan, Islamic Republic of	India	Qatar
Albania	Indonesia	Russia
Angola	Iran, Islamic Republic of	Samoa
Armenia	Iraq	San Marino
Aruba	Ireland	São Tomé Príncipe
Australia	Israel	Saudi Arabia
Bahamas, The	Italy	Serbia
Bangladesh	Jamaica	Seychelles
Belarus	Japan	Sierra Leone
Belgium	Jordan	Singapore
Belize	Kazakhstan	Slovenia
Benin	Kenya	Solomon Islands
Bolivia	Kiribati	Somalia
Bosnia and Herzegovina	Korea	Spain
Brazil	Kosovo	St. Kitts and Nevis
Bulgaria	Kuwait	St. Vincent and the Grenadines
Burkina Faso	Kyrgyz Republic	Swaziland
Burundi	Lao PDR	Sweden
Cambodia	Latvia	Switzerland
Cameroon	Lebanon	Thailand
Canada	Liberia	Togo
CEMAC	Lithuania	Tonga
Chad	Luxembourg	Tunisia
Chile	Macedonia, FYR	Uganda
China	Madagascar	Ukraine
Colombia	Malawi	United Arab Emirates
Congo, Democratic Republic of	Malaysia	United States
Congo, Republic of	Maldives	Uruguay
Costa Rica	Mali	Vanuatu
Côte d’Ivoire	Malta	WAEMU
Croatia	Mauritania	Zambia
Cyprus	Mexico
Czech Republic	Micronesia
Ecuador	Moldova
Egypt	Mongolia
Equatorial Guinea	Montenegro
Estonia	Morocco
Ethiopia	Mozambique
Euro Area	Myanmar
Finland	Namibia
France	Nepal
Gabon	Niger
Gambia, The	Nigeria
Germany	Norway
Ghana	Pakistan
Grenada	Panama
Guinea	Papua New Guinea
Guinea-Bissau	Paraguay
Haiti	Peru
Honduras	Philippines
Hungary	Poland
Iceland	Portugal

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