IMF Executive Board Concludes Fifth Periodic Report on Implementing IEO Recommendations Endorsed by the Executive BoardPublic Information Notice (PIN) No. 13/62
May 30, 2013
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 previous PMRs have been implemented. This fifth PMR updates work on three issues—staff mobility, enhanced coverage of previous implementation plans, and the process for following up on IEO recommendations – which the Board Evaluation Committee (EVC) had noted required further work during the discussion of the previous PMR. This PMR also presents progress on the Implementation Plan in response to Board-endorsed recommendations arising from the IEO Evaluation of IMF Interactions with Member Countries.
Executive Board Assessment
The Executive Board supported the conclusions in Paragraph 8 of the Periodic Monitoring Report.