Review of 1997 Guidance Note on Governance - A Proposed Framework for Enhanced Fund Engagement
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- Review of 1997 Guidance Note on Governance - A Proposed Framework for Enhanced Fund Engagement
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Bibliographic details
- Published: April 22, 2018
Summary
- Paper proposes adoption of a framework to supplement the 1997 Fund’s Guidance Note on the Role of the Fund in Governance Issues (the “1997 Governance Policy”).
- While the 1997 Governance Policy remains an appropriate basis, further guidance from the Executive Board is needed to ensure the objectives of that policy are achieved.
- Experience over the past 20 years has underscored the critical impact that governance issues can have on the Fund’s work.
- Evidence cited: corruption can have a pernicious effect on a country’s ability to achieve sustainable, inclusive economic growth.
- Proposed Framework name: “Framework for Enhanced Fund Engagement”.
Rationale and evidence
- Governance vulnerabilities, including corruption, can be macroeconomically critical and materially affect the Fund’s work.
- The last 20 years of experience motivate more systematic, effective, and candid engagement on governance vulnerabilities judged macroeconomically critical.
Proposed Framework for Enhanced Fund Engagement — objectives and design
- Primary objective: promote more systematic, effective, and candid engagement with member countries on governance vulnerabilities judged macroeconomically critical.
- Application on a systematic basis to all members aims to enhance evenhandedness.
- Framework designed to strengthen the global fight against corruption by promoting governmental measures that:
- prevent private actors from offering bribes; and
- prevent provision of services that enable concealment of proceeds of corrupt acts, particularly in the transnational context.
Scope and evenhandedness
- Framework intended to supplement—not replace—the 1997 Governance Policy.
- Systematic application across all members is emphasized to ensure evenhandedness in Fund engagement on governance matters.
Key metadata and access
- Publication date: April 22, 2018
- Subject: Governance
- Keywords: corruption, governance
- Available languages noted: français, 日本語, 中文, русский, español, العربية
Source: Review of 1997 Guidance Note on Governance - A Proposed Framework for Enhanced Fund Engagement — https://www.imf.org/en/publications/policy-papers/issues/2018/04/20/pp030918-review-of-1997-guidance-note-on-governance
Content in this bundle
- Policy Paper