IMF Executive Board Concludes 2022 Article IV Consultation with Türkiye
IMF News, February 15, 2023
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- Published: February 15, 2023
Board action and administrative details
- The Executive Board concluded the consideration of the 2022 Article IV Consultation and the Financial Sector Stability Assessment with the Republic of Türkiye on January 18, 2023.
- Press Release No. 23/42.
- Publication date on page: February 15, 2023.
- IMF Communications Department — MEDIA RELATIONS. PRESS OFFICER: Camila Perez. Phone: +1 202 623-7100 Email: MEDIA@IMF.org. @IMFSpokesperson
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Purpose and mandate of Article IV consultations
- Under Article IV of its Articles of Agreement, the IMF has a mandate to exercise surveillance over the economic, financial and exchange rate policies of its members in order to ensure the effective operation of the international monetary system.
- The IMF’s appraisal of such policies involves a comprehensive analysis of the general economic situation and policy strategy of each member country.
Typical Article IV process as described
- IMF economists visit the member country, usually once a year, to collect and analyze data and hold discussions with government and central bank officials.
- Upon its return, the staff submits a report to the IMF’s Executive Board for discussion.
- The Board’s views are subsequently summarized and transmitted to the country authorities.
Financial Sector Assessment Program (FSAP) and FSSA
- The Financial Sector Assessment Program (FSAP), established in 1999, is a comprehensive and in-depth assessment of a country’s financial sector.
- The key findings of an FSAP are summarized in a report called the Financial System Stability Assessment (FSSA), which is discussed by the IMF Executive Board.
