Extension of Consultation Cycles Due to COVID-19 Pandemic
Policy Papers, May 1, 2020
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- Extension of Consultation Cycles Due to COVID-19 Pandemic
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Bibliographic details
- Published: May 1, 2020
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9781513542829.007
Background and Objective
- To better respond to the unprecedented demand from the membership for financing and crisis support in response to the covid-19 pandemic, staff’s work on Article IV consultations and mandatory Financial Stability Assessments has been temporarily postponed.
- The temporary arrangements aim to ensure the postponement has no adverse impact on members’ compliance with their obligations.
Key Arrangements and Decisions
- Deadlines for upcoming Article IV consultations and for discussions with currency unions have been extended by 6 months.
- The paper provides additional background on these temporary arrangements.
Implementation and Scope
- The postponement covers:
- Article IV consultations.
- Mandatory Financial Stability Assessments.
- Discussions with currency unions (deadlines extended by 6 months).
- The measures are temporary and introduced in direct response to the covid-19 pandemic’s demands on IMF resources.
Summary of Findings
- Temporary postponement of Article IV consultations and mandatory Financial Stability Assessments was implemented to prioritize financing and crisis support related to covid-19.
- Deadlines for upcoming Article IV consultations and for discussions with currency unions have been extended by 6 months to preserve members’ compliance with obligations.
International Monetary Fund. "Extension of Consultation Cycles Due to COVID-19 Pandemic", Policy Papers 2020, 027 (2020).
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- Policy Paper