Annual Report cover 2005
Annual Report of the Executive Board

Annual Report of the Executive Board for the Financial Year Ended April 30, 2005

September 2005



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Ordering Information


File 1
124k pdf file
Message from the Managing Director
The Executive Board

File 2
91k pdf file
  World economy
  Global economic risks
  The work of the Fund

File 3
pdf file
1.   Surveillance in action during FY2005
  Global surveillance
World Economic Outlook • Global Financial Stability Report • Oil market developments
  Country surveillance
  Regional surveillance
Sub-Saharan Africa • ECCU • Euro area • WAEMU
2.   Strengthening surveillance and crisis prevention
    Biennial Review of Surveillance
  Focus and quality of analysis • Policy dialogue with country authorities • Communication and signaling • Assessing the effectiveness of surveillance • Use of staff resources
    Financial sector surveillance
Financial Sector Assessment Program • Gaps in financial sector regulation • Monetary policy implementation at different stages of market development • Offshore financial centers
    Balance sheet approach, debt, and liquidity
Debt-related vulnerabilities • Liquidity management
    Policy monitoring, precautionary arrangements, and signaling
    Standards and codes, and data provision to the Fund
Resource revenue transparency • Data standards • Guide to GDDS • External Debt Database • Data and metadata for portfolio and direct investment • Enhanced data reporting
File 4
pdf file
3.   Strengthening IMF program support and crisis resolution
  2004–05 Conditionality Review
Design of IMF-supported programs • Experience with 2002 Conditionality Guidelines • Ex post assessments
  Financial facilities and policies
Access policy • Activation of Trade Integration Mechanism Crisis resolution
Collective Action Clauses • Principles for Stable Capital Flows and Fair Debt Restructuring • Evian approach
  Looking forward
4.   The IMF’s role in low-income countries
    Review of the Fund’s role and operations
    Strengthening instruments for supporting low-income countries
  PRSPs: progress in implementation • Access to financial support • Emergency assistance for natural disasters • Post-program monitoring • Policy support and signaling
    Debt relief and sustainability
  Further debt relief • Debt sustainability framework
    Mobilizing international support
  Board review of aid effectiveness • Global Monitoring Report
File 5
pdf file
5.   Financial operations and policies
  External Financing
Lending • Resources and liquidity
  Concessional financing activities
Poverty Reduction and Growth Facility • Enhanced HIPC Initiative • Financing of PRGF subsidies and the HIPC Initiative • Investments to support concessional financing and HIPC Initiative assistance • Emergency assistance
  Income, charges, remuneration, and burden sharing
  Credit risk management and precautionary balances
  Quota developments
  SDR developments
SDR operations and transactions
  Safeguards assessments
  Arrears to the IMF
  External audit mechanism
File 6
pdf file
6.   Technical assistance and training
  Technical assistance delivery in FY2005
  IMF Institute
  External financing
  Reviewing and enhancing effectiveness
IEO evaluation of technical assistance • Evaluation of the AFRITACs
7.   Governance and management of the IMF
    Administrative and capital budgets
    Human resources
  8.   Cooperation, communication, and outreach
    Cooperation with other international organizations
    External communication and outreach

File 7
pdf file
I   International reserves
II   Financial operations and transactions
III   Principal policy decisions of the Executive Board
IV   Press communiqués of the International Monetary and Financial Committee and the Development Committee
V   Executive Directors and voting power, April 30, 2005
VI   Changes in membership of the Executive Board
File 8
pdf file
VII   Financial statements, April 30, 2005
File 9
pdf file
Acronyms and Abbreviations