Update on Implementation Plan to Address the Recommendations of the 2022 Institutional Safeguards Review
Policy Papers, December 21, 2023
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- Update on Implementation Plan to Address the Recommendations of the 2022 Institutional Safeguards Review
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Bibliographic details
- Published: December 21, 2023
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9798400264856.007
Background and purpose
- The Implementation Plan (IP) was developed in response to recommendations from the 2022 Institutional Safeguards Review (ISR).
- The IP drew on work undertaken by a Board Steering Group, Management, and staff.
- The IP was discussed and endorsed by the Board in December 2022.
- The IP outlined a set of actions and policy changes intended to reflect a strong shared commitment of the Board and Management to durable institutional change and the highest standards of institutional governance.
Implementation progress and status
- Substantial progress has been made in advancing the IP actions that were due to be completed in CY2023.
- 85 percent of the actions have been completed or remain on track for completion.
Major themes, areas of focus, and institutional priorities
- Oversight and Accountability
- Culture Change and Tone from the Top
- Leadership
- Staff address concern / staff feel (staff pulse survey)
- Data Integrity
- Dispute Resolution, including DRS office
- Internal audit
- External audit
- Auditing
- Employment and Labor
- Public financial management (PFM)
- Monetary policy
- Political economy
- ISR implementation core group
- OED personnel access
Summary findings and implications
- The Board-endorsed IP represents a coordinated set of actions and policy changes aimed at durable governance improvements.
- The degree of progress—85 percent completed or on track for CY2023—indicates substantial advancement against the IP milestones for that year.
- Continued monitoring and follow-through on remaining actions will be implied by the IP’s emphasis on durable institutional change and the highest standards of institutional governance.
International Monetary Fund — "Update on Implementation Plan to Address the Recommendations of the 2022 Institutional Safeguards Review", Policy Papers 2023, 060 (2023).
Content in this bundle
- Policy Paper