Proposed Steps to Address Excessive Delays in the Completion of Article IV Consultations

Date: February 3, 2012
Electronic Access: Full Text

Summary:Bilateral surveillance is mandatory for both the Fund and its members, and all members have an obligation to consult with the Fund for this purpose.3 Periodic consultations with members on their policies and access to necessary information are essential for effective bilateral surveillance. Furthermore, to enable the Fund to effectively conduct multilateral surveillance, bilateral surveillance needs to cover all economies at a reasonable frequency.

Series : Policy Paper
Subject(s): Article IV consultations | Bilateral surveillance | Executive Board discussion postponement | Notification of delay | Article IV consultation procedures | Executive Board decisions | Lapse of time approval