Review of the IMF's Transparency Policy
Review of the IMF's Transparency Policy
Survey closed
Between May 31 to June 30, 2023, an online consultation for Civil Society Organizations (CSOs) took place as part of the preparatory work for the “2024 Review of the Fund’s Transparency and Open Archives Policy”. A total of 23 responses were received, which are available for download. The survey results were subsequently presented to and discussed with CSOs in a virtual seminar. A virtual preparatory meeting was also held ahead of launching the survey with CSOs with good knowledge of the Fund’s transparency and open archive policy.
On November 15th, 2024, the IMF Executive Board concluded the 2024 Review of the Fund’s Transparency Policy and Open Archives Policy. The review includes a comprehensive stocktaking of the implementation of the Transparency and Open Archives Policy in the last ten years, as well as a number of reforms to strengthen the Policy. The Review documents also include an analysis of the input provided by CSOs and other stakeholders during the consultation process (Background Paper 2).
You will find here the press release summarizing the findings of the Transparency and Open Archives Policy review process, here the main review paper and here the background papers (Key Trends and Key Concepts And Supportive Analysis).
The next review by the Executive Board of the Transparency and Open Archives Policies is expected to take place in light of experience in five years or more, as needed.
The IMF is reviewing the key tenets of its transparency initiatives. These include the Fund’s Transparency Policy, the Open Archive Policy, and the Communication Strategy.
The objective of this public consultation is to gather yours views on the Fund’s Transparency and Open Archive Policies[1].
The Transparency Policy is the set of rules governing the publication and modification of documents prepared for the consideration of the IMF’s Executive Board. Those rules strive to disclose relevant Fund documents and information on a timely basis, while protecting member countries’ confidential information and the candor and independence of the Fund’s analysis.
The Fund’s Open Archives Policy relates to the public’s access to a wider set of Fund records with legal, historical, or other enduring value. Together with the IMF’s Communications Strategy, these policies constitute the key building blocks of the Fund transparency initiatives.
Significant changes have been made to the IMF’s Transparency Policy since it was first introduced in the 1990s. Today, the Transparency Policy comprises of varying publication regimes (presumptions relating to publication), modification rules for corrections or deletions, and communications expectations for country documents, policy documents, and multi-country documents. The Transparency Policy was last reviewed in 2013, and the environment in which the Fund operates has evolved – particularly with regards to disclosure in a fast-moving information world.
The 2024 Review will take stock of experience in the application of the 2013 Transparency and Archive Policies and whether the right balance continues to be struck regarding inherent tensions in the Fund’s role as a trusted advisor and independent global watchdog, and trade-offs related to information disclosure.
As part of the review process, a public consultation with CSOs will take place via an online survey (launched at end-May) and follow-up meetings with CSOs to discuss the inputs received and seek further insights from CSOs. If additional follow up is needed, bilateral meetings can be organized as well. A report presenting the findings of the Review and staff’s recommendations will be submitted to the IMF’s Executive Board for consideration by mid-2024. The views of CSOs based on the consultative process noted above will be incorporated in the report.
You can find additional information on the Transparency Policy and the consultation process with CSOs in this Power Point Presentation. If you would like to work on your answers before completing the form, you can download the survey questions here. However, please kindly note that all responses to the Survey must be submitted electronically through the online form by June 30th.
[1] Please note that we will have a separate process for stakeholder feedback on the Fund’s Communications Strategy in the coming months
