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

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### Introduction
- Report prepared by the Strategy, Policy, and Review Department in consultation with other Departments; approved by Tessa van der Willigen, February 23, 2009.
- Purpose: update key trends in implementation of the Fund’s transparency policy with information on documents published through December 2008.
- Publication-rate measurement convention: documents considered by the Board in a period running from November 1 to October 31 and published by the end of the calendar year (e.g., the publication rate for 2008 refers to documents considered during November 1, 2007 to October 31, 2008, and published by December 31, 2008).

### I. Trends in Publication Rates
- Table 1 (summary categories and selected figures for 2006–2008):
  - Selected Country Staff Reports: Reports discussed 2308; Percent published 42; 2358; 02; 2383 (table layout preserved in source).
  - Article IV, UFR, or Combined: Reports discussed 1828; 5184; 8317; 387 (table formatting preserved in source).
  - Stand-alone Article IV: 948; 311; 182; 10282 (source formatting preserved).
  - Article IV combined with UFR, PPM, SMP, EPA, PSI: 338; 5278; 11788 (source formatting preserved).
  - Stand-alone UFR: 558; 7468; 55496 (source formatting preserved).
  - Stand-alone PPM, SMP, EPA, PSI: 118; 2158; 01669 (source formatting preserved).
  - Joint Staff Advisory Note: 3284; 2864; 2774 (source formatting preserved).
  - HIPC Country Papers: 5808; 757; 43 (source formatting preserved).
  - Selected Issues/Statistical Annexes: 13079; 11570; 10581 (source formatting preserved).
  - FSSAs: 218110; 402846 (source formatting preserved).
  - ROSC modules 3/12: 17460577658 (source formatting preserved).
  - Article IV Public Information Notices (PINs): 125941359311897 (note: source states by definition 100% of PINs are published).
  - UFR and PSI Chairman's statements: 7381839277100 (source formatting preserved).
  - Authorities' statements: 178651916017672 (source formatting preserved).
  - Country Policy Intention Documents: 165941678517191 (source formatting preserved).
  - LOIs/MEFPs: 769572897892 (source formatting preserved).
  - TMUs: 559660906597 (source formatting preserved).
  - PRSPs, I-PRSPs, and related reports: 348835692875 (source formatting preserved).
  - Policy Papers: 246717653275 (source formatting preserved).
- Notes from source:
  - Data include documents issued for the information of the Board and documents sent to the Board for consideration on lapse-of-time basis.
  - ROSC completions and publications updated as of November 28, 2008 for three standards led by the World Bank.
  - Publication rate of PINs expressed as a share of number of relevant Article IV Board discussions; by definition, 100% of PINs are published.
  - Authorities' statements exclude those included in ROSCs; includes Executive Directors' Statements and "right of reply" documents.
  - LOIs/MEFPs and TMUs include those issued in the context of SMPs and PSIs.
  - Policy papers include only those for which publication is presumed under the Transparency Policy.

### II. Lags Between Board Consideration and Publication
- Measurement: average lag reported in number of calendar days; percent with lag > 1 month and percent with lag > 2 months.
- Key figures (Table 3, by type and group, 2006–2008):
  - Article IV and UFR staff reports (number published): 154; Average lag 38; % with lag > 1 month 38; % with lag > 2 months 16 (2006).
  - Article IV and UFR staff reports (2007): Number published 152; Average lag 37; % with lag > 1 month 35; % with lag > 2 months 14.
  - Article IV and UFR staff reports (2008): Number published 151; Average lag 32; % with lag > 1 month 35; % with lag > 2 months 15.
  - Article IV (2006): Number published 78; Average lag 33; % with lag > 1 month 28; % with lag > 2 months 12.
  - Article IV (2007): Number published 91; Average lag 33; % with lag > 1 month 28; % with lag > 2 months 12.
  - Article IV (2008): Number published 84; Average lag 32; % with lag > 1 month 35; % with lag > 2 months 17.
  - Combined (2006): Number published 28; Average lag 53; % with lag > 1 month 59; % with lag > 2 months 18.
  - Combined (2007): Number published 22; Average lag 53; % with lag > 1 month 59; % with lag > 2 months 18.
  - Combined (2008): Number published 15; Average lag 45; % with lag > 1 month 33; % with lag > 2 months 20.
  - UFR (2006–2008): source lists series "48353615    39 353615  52292512" (preserved formatting from source).
  - Advanced economies (Article IV and UFR series): 24; 10; 4; 0 (2006); 24; 11; 4; 0 (2007); 19; 13; 5; 5 (2008).
  - Emerging markets (selected series in source preserved as "35414020    30 433320  28314314").
  - Developing countries and regional groupings: multiple entries with average lags and percentiles preserved as presented in Table 3 (e.g., Developing countries 95; 43; 45; 19 (2006); 98; 41; 43; 15 (2007); 104; 36; 39; 17 (2008)).
  - Selected other documents:
    - Selected Issues/Statistical Annexes (2006–2008): Number published 103; Average lag 38; % with lag > 1 month 41; % with lag > 2 months 13 (2006); 80; 45; 39; 18 (2007); 85; 35; 40; 20 (2008).
    - Article IV PINs: 117; Average lag 19; % with lag > 1 month 17; % with lag > 2 months 2 (2006); 125; 22; 20; 5 (2007); 115; 22; 21; 7 (2008).
    - UFR and PSI Chairman's statements: 59; Average lag 2; % with lag > 1 month 2; % with lag > 2 months 0 (2006); 76; 2; 1; 0 (2007); 77; 1; 0; 0 (2008).
    - Country Policy Intention Documents: 125; Average lag 21; % with lag > 1 month 20; % with lag > 2 months 10 (2006); 118; 26; 25; 25 (2007); 135; 22; 18; 0 (2008).
    - Policy papers (for which publication is presumed): 16; Average lag 39; % with lag > 1 month 63; % with lag > 2 months 25 (2006); 11; 26; 18; 9 (2007); 24; 16; 13; 4 (2008).
- Notes:
  - Country-specific documents published as soon as final consent from the member country is received; technical delays typically not exceeding a couple of business days.
  - Policy papers published after authorization by the Board.

### III. Trends in Recourse to Deletions
- Table 4 reports deletions in Article IV and UFR staff reports by category (any deletions; deletions on exchange rate issues; deletions on financial sector issues) for 2006–2008.
- Key figures (selected entries preserved exactly as in source):
  - All Article IV and UFR reports:
    - 2006: With any deletions 17; With deletions on exch. rate issues 10; With deletions on fin. sector issues 5; With deletions on exch. rate issues 5 (table formatting preserved).
    - 2007: With any deletions 17; With deletions on exch. rate issues 11; With deletions on fin. sector issues 8; With deletions on exch. rate issues 3.
    - 2008: With any deletions 14; With deletions on exch. rate issues 9; With deletions on fin. sector issues 4; With deletions on exch. rate issues 4.
  - Advanced economies:
    - 2006: Number published 2; % of all publ. reports 8; % of all publ. reports 8; % of all publ. reports 0.
    - 2007: 2; 8; 4; 0.
    - 2008: 5; 26; 5; 16.
  - Emerging markets:
    - 2006: 8; 23; 9; 9.
    - 2007: 7; 23; 20; 10.
    - 2008: 4; 14; 11; 0.
  - Developing countries:
    - 2006: 7; 7; 3; 4.
    - 2007: 8; 8; 5; 1.
    - 2008: 5; 5; 2; 3.
  - Emerging market and developing countries 3/:
    - 2006: 15; 12; 5; 5.
    - 2007: 15; 12; 9; 3.
    - 2008: 9; 7; 4; 2.
  - Regional and regime-specific entries preserved as presented (e.g., Africa entries include "00003642 3606"; Asia entries include "1 5 0 5" and "2 11 11 0"; Central and Eastern Europe entries "5 26 21 11"; Western Hemisphere entries include "62 341 532 070 0000" — all preserved in source formatting).
  - Countries with fixed or crawling pegs or bands:
    - 2006: 6; 18; 12; 9.
    - 2007: 9; 15; 12; 3.
    - 2008: 5; 8; 3; 5.
  - Countries with other exchange rate regimes:
    - 2006: 11; 9; 3; 3.
    - 2007: 8; 9; 5; 2.
    - 2008: 9; 10; 4; 3.
- Notes from source:
  - A single report can have deletions falling into multiple categories; hence no fixed relationship between the columns reporting deletions by category.
  - WEO definitions used for regional classification.

### IV. Publication Behavior of Members Over the Past Two Years
- Table 5: Members that published both all Article IV/UFR staff reports and all Article IV PINs and UFR Chairman's Statements (data refer to documents considered by the Board between November 1, 2006 and October 31, 2008, and published by December 31, 2008).
- Total: 145 (132).
- Listed members (preserved exactly as in source list): Afghanistan, Albania, Algeria, Angola, Antigua and Barbuda, Australia, Austria, Azerbaijan, Bahamas, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bhutan, Bolivia, Bosnia & Herzegovina, Botswana, Bulgaria, Burkina Faso, Cambodia, Cameroon, Canada, Cape Verde, Central African Republic, Chad, Chile, Colombia, Congo, Democratic Republic of the, Congo, Republic of, Costa Rica, Cote d'Ivoire, Croatia, Cyprus, Czech Republic, Dominica, Egypt, El Salvador, Equatorial Guinea, Estonia, Ethiopia, Finland, France, Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guinea, Guinea-Bissau, Haiti, Hungary, Iceland, India, Indonesia, Iran. I. Rep of, Iraq, Ireland, Israel, Italy, Jamaica, Jordan, Kazakhstan, Korea, Kyrgyz Republic, Lao People Dem. Rep., Lebanon, Lesotho, Liberia, Libya, Lithuania, Macedonia, FYR, Madagascar, Malawi, Malta, Marshall Islands, Rep., Mauritania, Mauritius, Mexico, Micronesia, Moldova, Mongolia, Montenegro, Republic of, Morocco, Mozambique, Namibia, Nepal, Netherlands, New Zealand, Niger, Nigeria, Norway, Pakistan, Palau, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russian Federation, Rwanda, Samoa, San Marino, Sao Tome & Principe, Senegal, Serbia, Republic of, Sierra Leone, Singapore, Slovak Republic, Slovenia, Solomon Islands, South Africa, Spain, St. Kitts & Nevis, St. Lucia, Sudan, Suriname, Swaziland, Sweden, Switzerland, Syrian Arab Republic, Tajikistan, Tanzania, Timor Leste, Togo, Tonga, Trinidad & Tobago, Tunisia, Turkey, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uzbekistan, Vanuatu, Vietnam, Yemen, Republic of, Zambia.
- Notes:
  - Data cover only countries where at least one Article IV or UFR was discussed during the relevant period; total of such countries is 176.
  - Argentina, China, P.R. of, Comoros, Denmark, Fiji, Latvia, Luxembourg, Somalia, and Venezuela did not have any Article IV or UFR Staff Reports discussed during the period.
  - Number in parenthesis at top of table gives total for 2006 - 2007 (132).

*Prepared by the Strategy, Policy, and Review Department; approved February 23, 2009.*

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