Update on the Implementation Plan to Address the Recommendations of the 2022 Institutional Safeguards Review
IMF News, December 21, 2023
Source details
- Canonical URL
- Update on the Implementation Plan to Address the Recommendations of the 2022 Institutional Safeguards Review
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Bibliographic details
- Published: December 21, 2023
Key findings of the Institutional Safeguards Review (ISR)
- ISR was completed and discussed by the Executive Board in June 2022.
- ISR concluded that the Fund’s safeguards mechanisms are generally robust in ensuring a high standard of institutional governance and analytical integrity.
- ISR found that the Fund has a dispute resolution system comparable to the practices and procedures in other benchmarked organizations and provides multiple formal and informal mechanisms for employees to express workplace concerns.
- ISR identified areas where the data and analytical integrity frameworks at the Fund could be bolstered.
- ISR identified areas in which the smooth and effective functioning of the Fund’s system for internal disputes could be strengthened.
Implementation Plan (IP) — scope and development
- IP was developed drawing on the work undertaken by a Board Steering Group, Management, and staff.
- IP outlines a set of actions and policy changes to effect durable change in the institution.
- IP reflects a strong shared commitment of the Board and Management to durable institutional change.
- IP envisaged substantial progress on most actions targeted for completion in 2023.
Progress reported (status as of the publication)
- As of December 21, 2023, 85 percent of the actions targeted for completion in 2023 have been completed or remain on track for completion.
- IP roll-out is approaching the completion of a full year (year of roll-out implicit in the IP timeline).
- The Office of Internal Audit (OIA) will conduct an independent assessment of the ISR implementation progress in 2024.
Communications and contact details
- Press Release No. 23/471
- Date: December 21, 2023
- IMF Communications Department, MEDIA RELATIONS
- PRESS OFFICER: Pavis Devahasadin
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org
- Twitter: @IMFSpokesperson
International Monetary Fund press release dated December 21, 2023.
References
- Press Releases
- PRESS CENTER
- Institutional Safeguards Review (ISR)
- Executive Board in June 2022
- PR22/438
- [Update on the Implementation Plan to Address the
Recommendations of the 2022 Institutional Safeguards Review](https://www.imf.org/en/Publications/Policy-Papers/Issues/2023/12/20/Update-on-Implementation-Plan-to-Address-the-Recommendations-of-the-2022-Institutional-542823?cid=pr-com-PPEA2023060)