IMF Executive Board Concludes Fourth Periodic Report on Implementing IEO Recommendations Endorsed by the Executive BoardPublic Information Notice (PIN) No. 11/123
September 29, 2011
Public Information Notices (PINs) form part of the IMF's efforts to promote transparency of the IMF's views and analysis of economic developments and policies. With the consent of the country (or countries) concerned, PINs are issued after Executive Board discussions of Article IV consultations with member countries, of its surveillance of developments at the regional level, of post-program monitoring, and of ex post assessments of member countries with longer-term program engagements. PINs are also issued after Executive Board discussions of general policy matters, unless otherwise decided by the Executive Board in a particular case.
The Executive Board established the Periodic Monitoring Report (PMR) in 2007 to ensure that recommendations by the Independent Evaluation Office (IEO), which were subsequently endorsed by the Executive Board, are followed-up and systematically monitored. Previous PMRs have documented follow-up measures to IEO recommendations and stressed that close monitoring of implementation is important to maintain an effective institutional accountability framework and strong learning culture.
Each PMR focuses on how the implementation of recent Management Implementation Plans (MIPs) has advanced and whether outstanding recommendations from the previous PMR have been implemented. The present PMR examines the implementation status of the MIP pertaining to recommendations from the IEO Evaluation IMF Involvement in International Trade Policy Issues. The PMR also provides an update on progress on improving the MONA database and staff mobility - issues highlighted by the Evaluation Committee from the previous PMR.
Executive Board Assessment
The Executive Board supported the conclusions in Paragraph 5 of the Periodic Monitoring Report.