{
  "title": "Checking the Receipts from Pandemic-Related Spending",
  "publication": "IMF Blog, May 20, 2021",
  "sourceUrl": "https://www.imf.org/en/blogs/articles/2021/05/20/blog-052021-checking-the-receipts-from-pandemic-related-spending",
  "canonical": "https://www.imf.org/en/blogs/articles/2021/05/20/blog-052021-checking-the-receipts-from-pandemic-related-spending",
  "overlayPath": "/en/blogs/articles/2021/05/20/blog-052021-checking-the-receipts-from-pandemic-related-spending/index.md",
  "summary": "Governments provided lifelines to people and firms to combat the pandemic and its economic fallout; transparency and accountability are important to support effectiveness.",
  "sections": [
    {
      "heading": "Context and purpose",
      "content": "- Governments provided lifelines to people and firms to combat the pandemic and its economic fallout; transparency and accountability are important to support effectiveness.\n- IMF stance: \"spend what you must, but keep the receipts.\"\n- IMF pressed for better governance through greater transparency and sought specific governance measures for countries receiving IMF financing during the crisis."
    },
    {
      "heading": "IMF-required governance measures",
      "content": "- Commitments include:\n  - Publish pandemic-related procurement contracts.\n  - Publish beneficial ownership of companies awarded these contracts.\n  - Publish COVID-19 spending reports and audit results.\n- Tailoring and safeguards:\n  - Measures are tailored to country circumstances and the severity of corruption risks.\n  - All recipient countries commit to undertake a Safeguards Assessment to ensure the central bank can provide reliable information and transparently manage IMF funds."
    },
    {
      "heading": "Implementation progress (one year into the emergency response)",
      "content": "- Publication of contract information:\n  - Most commitments have or are in the process of being met, including in the Dominican Republic, Guinea, Nepal, and Ukraine.\n  - In some countries, capacity constraints limit progress; IMF provides capacity development support.\n- Beneficial ownership publication:\n  - Purpose: deter corruption and facilitate detection of conflicts-of-interest by requiring bidding companies to provide names of people with effective control (\"beneficial owners\") to procurement agencies for publication.\n  - Implementation status: \"only half of the countries (including Benin, Ecuador, Jordan, Malawi, and Moldova) having implemented this commitment or made substantial progress toward it.\"\n  - Positive spillovers: commitments prompted some countries, such as Kenya and the Kyrgyz Republic, to adopt the reform permanently (beyond pandemic-related spending).\n- Audits of emergency spending:\n  - Typical deadline for ex-post audits: \"3-12 months after the end of the fiscal year.\"\n  - It is too early to assess implementation—most audits are in preparation based on existing systems.\n  - Early action examples: Jamaica, Honduras, Maldives, and Sierra Leone have conducted risk-based, real-time audits.\n  - IMF support: stepping up capacity development to help supreme audit institutions and improve retrievability of information.\n- Reporting of pandemic-related spending:\n  - Most countries are, or will shortly begin, publicly reporting on execution of this spending.\n- Safeguards Assessments:\n  - Being undertaken rapidly, \"with the pace of these assessments doubling after the pandemic’s onset.\""
    },
    {
      "heading": "Tackling deeper governance and anti-corruption challenges",
      "content": "- Longer-term engagement:\n  - Emergency measures are not silver bullets; deeper vulnerabilities are addressed under the IMF’s broader \"2018 Framework for Enhanced Fund Engagement on Governance.\"\n  - Focus areas in the 2018 Framework: multi-year IMF lending arrangements, annual health checks of IMF member countries, and capacity development.\n- Examples of reforms under multi-year IMF financing arrangements:\n  - Fiscal governance: Ecuador, The Gambia, Jordan, Liberia, Rwanda, and Senegal.\n  - Anti-corruption and anti-money laundering frameworks: Angola, Armenia, Republic of Congo, Kenya, and Tunisia.\n  - Financial sector oversight and central bank governance: Liberia and Ukraine.\n- Capacity development:\n  - IMF staff will continue to provide tailored capacity development through technical assistance, training, and webinars."
    },
    {
      "heading": "Transparency and accountability beyond IMF financing",
      "content": "- Practices in non-recipient and other countries:\n  - Comprehensive spending portals: Brazil, Colombia, Costa Rica, France, and Peru.\n  - Frequent external audits: South Korea.\n  - Emergency procurement guidelines: Spain.\n  - Detecting conflicts-of-interest via beneficial ownership and disclosures: Romania.\n- IMF engagement channels:\n  - Through Article IV consultations and policy dialogue, IMF staff discuss transparency and accountability in pandemic-related spending in countries such as Poland, the United Kingdom, and the United States, and on fiscal, monetary, and financial sector measures more generally."
    },
    {
      "heading": "Building on progress and next steps",
      "content": "- Sustained country engagement on governance and anti-corruption is necessary to support effective implementation of pandemic reforms and beyond.\n- IMF priorities and actions:\n  - Implement the 2018 Framework, which addresses governance issues beyond anti-corruption, including fiscal governance, financial sector oversight, central bank governance, market regulation, rule of law, and anti-money laundering frameworks.\n  - Continue tailored capacity development to address varying implementation capacity across countries and measures.\n  - Take stock of progress in implementing the 2018 Framework in mid-2022 to assess continued IMF support for strengthening governance.\n- Enablers of success:\n  - High-level political ownership of reforms.\n  - International cooperation.\n  - Joint effort with civil society and the private sector.\n  - Sustained implementation over an extended period.\n- Outlook: Progress is not easy but is achievable and essential for fostering stronger and more inclusive economic growth.\n\nSource: IMFBlog, \"Checking the Receipts from Pandemic-Related Spending\", May 20, 2021.\n\n---\n\n Content in this bundle\n\n- Implementation status of governance commitments on crisis-related spendingTo depts.docx\n  - Implementation status of governance commitments on crisis-related spendingTo depts.docx (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Implementation status of governance commitments on crisis-related spendingTo depts.docx (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- عربي\n- Español,\n- 日本語\n- Português\n- transparency and accountability\n- spend what you must, but keep the receipts\n- governance measures\n- Safeguards Assessment\n- 2018 Framework for Enhanced Fund Engagement on Governance\n- Ecuador\n- The Gambia\n- Jordan\n- Liberia,\n- Rwanda\n- Senegal\n- Angola,\n- Armenia\n- Republic of Congo\n- Kenya\n- Tunisia\n- Ukraine\n- Poland\n- United Kingdom\n- United States\n\nSource: https://www.imf.org/en/blogs/articles/2021/05/20/blog-052021-checking-the-receipts-from-pandemic-related-spending"
    }
  ],
  "bullets": [
    "[Markdown version](/en/blogs/articles/2021/05/20/blog-052021-checking-the-receipts-from-pandemic-related-spending/index.md)",
    "[Structured JSON version](/en/blogs/articles/2021/05/20/blog-052021-checking-the-receipts-from-pandemic-related-spending/index.json)",
    "[Bundle manifest](/en/blogs/articles/2021/05/20/blog-052021-checking-the-receipts-from-pandemic-related-spending/bundle-manifest.json)",
    "Authors: Chady El Khoury, Jiro Honda, Johan Mathisen, Etienne Yehoue",
    "Published: May 20, 2021",
    "Governments provided lifelines to people and firms to combat the pandemic and its economic fallout; transparency and accountability are important to support effectiveness.",
    "IMF stance: \"spend what you must, but keep the receipts.\"",
    "IMF pressed for better governance through greater transparency and sought specific governance measures for countries receiving IMF financing during the crisis.",
    "Commitments include:",
    "Tailoring and safeguards:",
    "Publication of contract information:",
    "Beneficial ownership publication:",
    "Audits of emergency spending:",
    "Reporting of pandemic-related spending:",
    "Safeguards Assessments:",
    "Longer-term engagement:",
    "Examples of reforms under multi-year IMF financing arrangements:",
    "Capacity development:",
    "Practices in non-recipient and other countries:",
    "IMF engagement channels:",
    "Sustained country engagement on governance and anti-corruption is necessary to support effective implementation of pandemic reforms and beyond.",
    "IMF priorities and actions:",
    "Enablers of success:",
    "Outlook: Progress is not easy but is achievable and essential for fostering stronger and more inclusive economic growth.",
    "**Implementation status of governance commitments on crisis-related spending_To depts.docx**",
    "[عربي](https://www.imf.org/ar/News/Articles/2021/05/20/blog-052021-checking-the-receipts-from-pandemic-related-spending)",
    "[Español,](https://blog-dialogoafondo.imf.org/?p=15692)",
    "[日本語](https://www.imf.org/ja/News/Articles/2021/05/20/blog-052021-checking-the-receipts-from-pandemic-related-spending)",
    "[Português](https://www.imf.org/pt/News/Articles/2021/05/20/blog-052021-checking-the-receipts-from-pandemic-related-spending)",
    "[transparency and accountability](https://blogs.imf.org/2020/07/28/corruption-and-covid-19/)",
    "[spend what you must, but keep the receipts](https://blogs.imf.org/2020/04/15/fiscal-policies-to-contain-the-damage-from-covid-19/)",
    "[governance measures](https://www.imf.org/en/About/Factsheets/Sheets/2020/04/30/how-imf-covid19-financial-help-is-used)",
    "[Safeguards Assessment](https://www.imf.org/en/About/Factsheets/Sheets/2016/08/02/21/43/Protecting-IMF-Resources-Safeguards)",
    "[2018 Framework for Enhanced Fund Engagement on Governance](https://www.imf.org/en/Publications/Policy-Papers/Issues/2020/07/15/Progress-In-Implementing-The-Framework-For-Enhanced-Fund-Engagement-On-Governance-49576)",
    "[Ecuador](https://www.imf.org/en/Publications/CR/Issues/2020/12/23/Ecuador-First-Review-Under-the-Extended-Arrangement-Under-the-Extended-Fund-Facility-and-49980)",
    "[The Gambia](https://www.imf.org/en/News/Articles/2021/04/01/pr2196-gambia-imf-staff-completes-virtual-mission-for-the-second-review-of-the-ecf)",
    "[Jordan](https://www.imf.org/en/News/Articles/2021/03/30/pr2193-jordan-imf-staff-and-jordan-reach-staff-level-agreement-on-the-second-review-under-eff)",
    "[Liberia,](https://www.imf.org/en/Publications/CR/Issues/2021/01/07/Liberia-First-and-Second-Reviews-Under-the-Extended-Credit-Facility-Arrangement-Request-for-49995)",
    "[Rwanda](https://www.imf.org/en/Publications/CR/Issues/2021/01/04/Rwanda-Third-Review-Under-the-Policy-Coordination-Instrument-Press-Release-Staff-Report-and-49984)",
    "[Senegal](https://www.imf.org/en/News/Articles/2021/04/29/pr21117-senegal-imf-staff-reach-agreement-on-3rd-review-pci-and-new-18-month-financing-arrangement)",
    "[Angola,](https://www.imf.org/en/Publications/CR/Issues/2021/01/19/Angola-Fourth-Review-Under-the-Extended-Arrangement-Under-the-Extended-Fund-Facility-and-50024)",
    "[Armenia](https://www.imf.org/en/Publications/CR/Issues/2020/12/16/Republic-of-Armenia-Third-Review-under-the-Stand-By-Arrangement-and-Modification-of-49961)",
    "[Republic of Congo](https://www.imf.org/en/Countries/COG)",
    "[Kenya](https://www.imf.org/en/News/Articles/2021/02/15/pr2140-imf-and-kenyan-authorities-reach-staff-level-agreement)",
    "[Tunisia](https://www.imf.org/en/Publications/CR/Issues/2021/02/26/Tunisia-2020-Article-IV-Consultation-Press-Release-Staff-Report-and-Statement-by-the-50128)",
    "[Ukraine](https://www.imf.org/en/Publications/WP/Issues/2021/04/23/Assessing-the-Macroeconomic-Impact-of-Structural-Reforms-in-Ukraine-50345)",
    "[Poland](https://www.imf.org/en/Publications/CR/Issues/2021/02/05/Republic-of-Poland-2020-Article-IV-Consultation-Press-Release-Staff-Report-and-Statement-by-50066)",
    "[United Kingdom](https://www.imf.org/en/Publications/CR/Issues/2020/12/18/United-Kingdom-2020-Article-IV-Consultation-Press-Release-Staff-Report-Staff-Supplement-and-49971)",
    "[United States](https://www.imf.org/en/Publications/CR/Issues/2020/08/07/United-States-2020-Article-IV-Consultation-Press-Release-Staff-Report-and-Statement-by-the-49650)"
  ],
  "related": [
    {
      "title": "Implementation status of governance commitments on crisis-related spending_To depts.docx",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/files/topics/governance-and-anti-corruption/implementation-status-of-governance-commitments-on-crisis-related-spending-may-2021.pdf",
      "summary": {
        "path": "/-/media/files/topics/governance-and-anti-corruption/implementation-status-of-governance-commitments-on-crisis-related-spending-may-2021.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/topics/governance-and-anti-corruption/implementation-status-of-governance-commitments-on-crisis-related-spending-may-2021.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/blogs/articles/2021/05/20/blog-052021-checking-the-receipts-from-pandemic-related-spending/index.md",
    "json": "/en/blogs/articles/2021/05/20/blog-052021-checking-the-receipts-from-pandemic-related-spending/index.json",
    "bundleManifest": "/en/blogs/articles/2021/05/20/blog-052021-checking-the-receipts-from-pandemic-related-spending/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-08-27T02:58:05.261Z"
}