## Key Trends in Implementation of the Fund’s Transparency Policy

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### Introduction and scope
- Report prepared by the Policy Development and Review Department; approved by Mark Allen; dated January 31, 2006.
- Data focus: documents published through December 2005.
- Rolling updates to be issued annually to the Executive Board under the heading Key Trends in Implementation of the Fund’s Transparency Policy.
- Proposed practice: periodic reports published within a few days of Board issuance; final authorization to publish decided by the Board on a lapse-of-time basis.

### I. Trends in publication rates (Nov 2002–Oct 2005; published by end-December 2003/2004/2005)
- Overall Staff Reports:
  - Nov 2002 - Oct 2003: Reports discussed 2368; Percent published 12
  - Nov 2003 - Oct 2004: Reports discussed 1254; Percent published 78
  - Nov 2004 - Oct 2005: Reports discussed 2458; Percent published 2
- Article IV, UFR, or Combined:
  - Nov 2002 - Oct 2003: Reports discussed 2007; Percent published 82
  - Nov 2003 - Oct 2004: Reports discussed 2037; Percent published 71
  - Nov 2004 - Oct 2005: Reports discussed 1968; Percent published 2
- Stand-alone Article IV:
  - Nov 2002 - Oct 2003: Reports discussed 987; Percent published 39
  - Nov 2003 - Oct 2004: Reports discussed 927; Percent published 70
  - Nov 2004 - Oct 2005: Reports discussed 927; Percent published 9
- Article IV combined with UFR, PPM, SMP, EPA, PSI:
  - Nov 2002 - Oct 2003: Reports discussed 279; Percent published 32
  - Nov 2003 - Oct 2004: Reports discussed 329; Percent published 83
  - Nov 2004 - Oct 2005: Reports discussed 334; Percent published 28
- Stand-alone UFR:
  - Nov 2002 - Oct 2003: Reports discussed 75; Percent published 77
  - Nov 2003 - Oct 2004: Reports discussed 78; Percent published 28
  - Nov 2004 - Oct 2005: Reports discussed 36; Percent published 28
- Stand-alone PPM, SMP, EPA, PSI:
  - Nov 2002 - Oct 2003: Reports discussed 47; Percent published 57
  - Nov 2003 - Oct 2004: Reports discussed 57; Percent published 71
  - Nov 2004 - Oct 2005: Reports discussed 141; Percent published 100
- Joint Staff Assessments:
  - Nov 2002 - Oct 2003: Reports discussed 29; Percent published 100
  - Nov 2003 - Oct 2004: Reports discussed 30; Percent published 37
  - Nov 2004 - Oct 2005: Reports discussed 29; Percent published 76
- HIPC Country Papers:
  - Nov 2002 - Oct 2003: Reports discussed 31; Percent published 100
  - Nov 2003 - Oct 2004: Reports discussed 31; Percent published 68
  - Nov 2004 - Oct 2005: Reports discussed 31; Percent published 83
- Selected Issues/Statistical Annexes:
  - Nov 2002 - Oct 2003: Reports discussed 119; Percent published 75
  - Nov 2003 - Oct 2004: Reports discussed 125; Percent published 70
  - Nov 2004 - Oct 2005: Reports discussed 145; Percent published 74
- FSSAs:
  - Nov 2002 - Oct 2003: Reports discussed 24; Percent published 67
  - Nov 2003 - Oct 2004: Reports discussed 17; Percent published 82
  - Nov 2004 - Oct 2005: Reports discussed 21; Percent published 65
- ROSC modules:
  - Nov 2002 - Oct 2003: Reports discussed 165; Percent published 67
  - Nov 2003 - Oct 2004: Reports discussed 114; Percent published 75
  - Nov 2004 - Oct 2005: Reports discussed 79; Percent published 71
- Article IV Public Information Notices (PINs):
  - Nov 2002 - Oct 2003: Reports discussed 125; Percent published 92
  - Nov 2003 - Oct 2004: Reports discussed 119; Percent published 90
  - Nov 2004 - Oct 2005: Reports discussed 131; Percent published 91
- UFR and PSI Chairman's statements:
  - Nov 2002 - Oct 2003: data not shown; Percent published 85
  - Nov 2003 - Oct 2004: data not shown; Percent published 96
- Authorities' statements issued:
  - Nov 2002 - Oct 2003: Reports discussed 199; Percent published 53
  - Nov 2003 - Oct 2004: Reports discussed 207; Percent published 53
  - Nov 2004 - Oct 2005: Reports discussed 318; Percent published 96
- Country Policy Intention Documents:
  - Nov 2002 - Oct 2003: Reports discussed 199; Percent published 96
  - Nov 2003 - Oct 2004: Reports discussed 220; Percent published 59
  - Nov 2004 - Oct 2005: Reports discussed 319; Percent published 49
- LOIs/MEFPs:
  - Nov 2002 - Oct 2003: Reports discussed 99; Percent published 95
  - Nov 2003 - Oct 2004: Reports discussed 96; Percent published 92
  - Nov 2004 - Oct 2005: Reports discussed 89; Percent published 97
- TMUs:
  - Nov 2002 - Oct 2003: Reports discussed 71; Percent published 96
  - Nov 2003 - Oct 2004: Reports discussed 67; Percent published 29
  - Nov 2004 - Oct 2005: Reports discussed 36; Percent published 79
- PRSPs, I-PRSPs, and related reports:
  - Nov 2002 - Oct 2003: Reports discussed 29; Percent published 100
  - Nov 2003 - Oct 2004: Reports discussed 30; Percent published 37
  - Nov 2004 - Oct 2005: Reports discussed 38; Percent published 79
- Policy Papers (publication presumed):
  - Nov 2002 - Oct 2003: Reports discussed 36; Percent published 86
  - Nov 2003 - Oct 2004: Reports discussed 35; Percent published 71
  - Nov 2004 - Oct 2005: Reports discussed 41; Percent published 71
- Policy PINs:
  - Nov 2002 - Oct 2003: Reports discussed 29; Percent published 90
  - Nov 2003 - Oct 2004: Reports discussed 29; Percent published 76
  - Nov 2004 - Oct 2005: Reports discussed 33; Percent published 76

Notes:
- Data include documents issued for information and documents sent to the Board on a lapse-of-time basis.
- Publication rates refer to documents considered by the Board in each period and published respectively by end-December 2003, end-December 2004, and end-December 2005.
- ROSC definition and PIN scope provided in source footnotes.

### II. Lags between Board consideration and publication
- Table covers average lag in calendar days and shares with lag > 1 month and > 2 months.
- Article IV and UFR staff reports:
  - Nov 2002 - Oct 2003: Number published 155; Average lag 33; % with lag > 1 month 32; % with lag > 2 months 14
  - Nov 2003 - Oct 2004: Number published 156; Average lag 40; % with lag > 1 month 43; % with lag > 2 months 20
  - Nov 2004 - Oct 2005: Number published 160; Average lag 35; % with lag > 1 month 38; % with lag > 2 months 15
- Advanced economies (Article IV and UFR):
  - Nov 2002 - Oct 2003: Number published 22; Average lag 12; % with lag > 1 month 0; % with lag > 2 months 0
  - Nov 2003 - Oct 2004: Number published 26; Average lag 12; % with lag > 1 month 8; % with lag > 2 months 0
  - Nov 2004 - Oct 2005: Number published 23; Average lag 15; % with lag > 1 month 13; % with lag > 2 months 4
- Emerging markets:
  - Nov 2002 - Oct 2003: Number published 42; Average lag 40; % with lag > 1 month 33; % with lag > 2 months 19
  - Nov 2003 - Oct 2004: Number published 34; Average lag 45; % with lag > 1 month 50; % with lag > 2 months 27
  - Nov 2004 - Oct 2005: Number published 33; Average lag 37; % with lag > 1 month 36; % with lag > 2 months 15
- Developing countries:
  - Nov 2002 - Oct 2003: Number published 91; Average lag 36; % with lag > 1 month 40; % with lag > 2 months 14
  - Nov 2003 - Oct 2004: Number published 96; Average lag 45; % with lag > 1 month 50; % with lag > 2 months 23
  - Nov 2004 - Oct 2005: Number published 104; Average lag 38; % with lag > 1 month 44; % with lag > 2 months 17
- Emerging market and developing countries (WEO definitions):
  - Nov 2002 - Oct 2003: Number published 133; Average lag 37; % with lag > 1 month 38; % with lag > 2 months 16
  - Nov 2003 - Oct 2004: Number published 130; Average lag 45; % with lag > 1 month 50; % with lag > 2 months 24
  - Nov 2004 - Oct 2005: Number published 137; Average lag 38; % with lag > 1 month 42; % with lag > 2 months 17
- Regional examples (Article IV and UFR):
  - Africa (latest period): Number published 51; Average lag 46; % with lag > 1 month 55; % with lag > 2 months 26
  - Asia (latest period): Number published 17; Average lag 43; % with lag > 1 month 53; % with lag > 2 months 18
  - Western Hemisphere (latest period): Number published 26; Average lag 35; % with lag > 1 month 35; % with lag > 2 months 12
- Selected other documents:
  - Selected Issues/Statistical Annexes (latest period): Number published 108; Average lag 36; % with lag > 1 month 40; % with lag > 2 months 17
  - Article IV PINs (latest period): Number published 119; Average lag 24; % with lag > 1 month 24; % with lag > 2 months 8
  - UFR and PSI Chairman's statements (latest period): Number published 82; Average lag 1; % with lag > 1 month 0; % with lag > 2 months 0
  - Country Policy Intention Documents (latest period): Number published 151; Average lag 25; % with lag > 1 month 25; % with lag > 2 months 0
  - Policy papers (latest period): Number published 29; Average lag 52; % with lag > 1 month 41; % with lag > 2 months 21

Notes:
- Country-specific documents typically published within a couple of business days of receiving final consent from the member country.
- Policy papers are published after authorization by the Board.

### III. Trends in recourse to deletions (Article IV and UFR staff reports)
- All Article IV and UFR reports (Nov 2002–Oct 2003 / Nov 2003–Oct 2004 / Nov 2004–Oct 2005):
  - With any deletions:
    - Nov 2002-Oct 2003: Number published 24; With deletions on exch. rate issues 16; With deletions on fin. sector issues 3; (other % columns present in table)
    - Nov 2003-Oct 2004: Number published 25; With deletions on exch. rate issues 16; With deletions on fin. sector issues 7
    - Nov 2004-Oct 2005: Number published 10; With deletions on exch. rate issues 6; With deletions on fin. sector issues 3
- By economic group:
  - Advanced economies (latest period): Number published 2; % of all publ. reports with deletions on exch. rate issues 9; with deletions on fin. sector issues 4
  - Emerging markets (latest period): Number published 6; % of all publ. reports with deletions on exch. rate issues 18; with deletions on fin. sector issues 6
  - Developing countries (latest period): Number published 2; % of all publ. reports with deletions on exch. rate issues 2; with deletions on fin. sector issues 1
- By region (selected entries from source table):
  - Central and Eastern Europe (latest period): Number published 2; % with deletions on exch. rate issues 10; % with deletions on fin. sector issues 10
  - Western Hemisphere (periods shown): Nov 2002–Oct 2003: Number published 12; % with deletions on exch. rate issues 38; Nov 2004–Oct 2005: Number published 4; % with deletions on exch. rate issues 15
- By exchange rate regime:
  - Countries with fixed or crawling pegs or bands:
    - Nov 2002–Oct 2003: Number published 4; % with deletions on exch. rate issues 12; % with deletions on fin. sector issues 6
    - Nov 2003–Oct 2004: Number published 10; % with deletions on exch. rate issues 31; % with deletions on fin. sector issues 25
    - Nov 2004–Oct 2005: Number published 2; % with deletions on exch. rate issues 7; % with deletions on fin. sector issues 7
  - Countries with other exchange rate regimes:
    - Nov 2002–Oct 2003: Number published 20; % with deletions on exch. rate issues 16; % with deletions on fin. sector issues 3
    - Nov 2003–Oct 2004: Number published 15; % with deletions on exch. rate issues 12; % with deletions on fin. sector issues 2
    - Nov 2004–Oct 2005: Number published 8; % with deletions on exch. rate issues 6; % with deletions on fin. sector issues 2

Notes:
- Publication rates and deletion counts refer to documents considered by the Board in each period and published respectively by end-December 2003, end-December 2004, and end-December 2005.
- WEO definitions used for country groupings.

### IV. Publication behavior of members
- Total members that have published all Article IV/UFR staff reports (Nov 1, 2003 - Oct 31, 2005): Total: 136
- Members listed in source (selection reflects full list in report): Afghanistan, Albania, Algeria, Angola, Antigua and Barbuda, Argentina, Armenia, Australia, Austria, Azerbaijan, Bahamas, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bolivia, Bosnia & Herzegovina, Bulgaria, Burkina Faso, Burundi, Cambodia, Cameroon, Canada, Cape Verde, Chad, Chile, China, P.R. of, Colombia, Comoros, Congo, Dem. Rep. of, Congo, Republic of, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Dominica, El Salvador, Equatorial Guinea, Estonia, Ethiopia, Finland, France, Gabon, Georgia, Germany, Ghana, Greece, Guatemala, Guinea, Guinea-Bissau, Haiti, Hungary, Iceland, India, Indonesia, Iran, I. Rep of, Iraq, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Korea, Kuwait, Kyrgyz Republic, Lao People Dem. Rep., Latvia, Lesotho, Liberia, Libya, Lithuania, Luxembourg, Macedonia, FYR, Madagascar, Malawi, Malta, Mali, Mauritius, Mexico, Micronesia, Moldova, Mongolia, Morocco, Mozambique, Namibia, Netherlands, New Zealand, Nicaragua, Niger, Nigeria, Norway, Pakistan, Palau, Papua New Guinea, Poland, Portugal, Romania, Russian Federation, Rwanda, Samoa, San Marino, Sao Tome & Principe, Serbia and Montenegro, Sierra Leone, Singapore, Slovak Republic, Slovenia, Solomon Islands, South Africa, Spain, Sri Lanka, St. Lucia, Sudan, Suriname, Sweden, Switzerland, Tajikistan, Tanzania, Timor Leste, Trinidad & Tobago, Tunisia, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Vanuatu, Vietnam, Zimbabwe.

Final note: data refer to documents considered by the Board in the time period indicated and published through December 31, 2005; does not reflect consent to publication received since then; includes only countries where at least one Article IV or UFR Report was discussed during the relevant period; Somalia did not have any Article IV or UFR Staff Report discussed.

*Source: Key Trends in Implementation of the Fund’s Transparency Policy (Policy Development and Review Department), January 31, 2006.*

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_Source: https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/np/pp/eng/2006/_013106.pdf_