{
  "title": "The Chair’s Summing Up Independent Evaluation Office—The IMF’s Exceptional Access Policy: Executive Board Meeting: Executive Board Meeting December 5, 2024",
  "publication": "Policy Papers, December 12, 2024",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2024/12/11/the-chairs-summing-up-independent-evaluation-office-the-imfs-exceptional-access-policy-559416",
  "canonical": "https://www.imf.org/en/publications/policy-papers/issues/2024/12/11/the-chairs-summing-up-independent-evaluation-office-the-imfs-exceptional-access-policy-559416",
  "overlayPath": "/en/publications/policy-papers/issues/2024/12/11/the-chairs-summing-up-independent-evaluation-office-the-imfs-exceptional-access-policy-559416/index.md",
  "summary": "Executive Directors welcomed the report of the Independent Evaluation Office (IEO) on the IMF’s Exceptional Access Policy (EAP), encompassing the policy’s objectives and design, successive reforms, and experience with its implementation.",
  "sections": [
    {
      "heading": "Summary of Executive Directors’ reception",
      "content": "- Executive Directors welcomed the report of the Independent Evaluation Office (IEO) on the IMF’s Exceptional Access Policy (EAP).\n- The report covered:\n  - the policy’s objectives and design,\n  - successive reforms,\n  - experience with its implementation.\n- Directors recognized that the Fund has sought to find a generally good balance between rules and flexibility in applying the EAP, while reinforcing transparency and accountability and adopting adequate safeguards.\n- Directors generally concurred with the thrust of the evaluation that the EAP:\n  - provided a structured framework for higher scrutiny through the exceptional access criteria (EAC) and enhanced decision making procedures,\n  - maintained flexibility through room for judgment in assessing the EAC."
    },
    {
      "heading": "Major themes and policy-relevant observations",
      "content": "- Balance between rules and flexibility:\n  - The EAP aims to balance prescriptive criteria (EAC) with discretion to allow judgment in individual cases.\n- Transparency and accountability:\n  - Reforms have reinforced transparency and accountability in decisions involving exceptional access.\n- Safeguards:\n  - The Fund has adopted adequate safeguards as part of the EAP reforms.\n- Decision-making procedures:\n  - Enhanced decision-making procedures accompany the EAC to provide higher scrutiny where exceptional access is sought."
    },
    {
      "heading": "Publication and metadata",
      "content": "- Publication title: The Chair’s Summing Up Independent Evaluation Office—The IMF’s Exceptional Access Policy: Executive Board Meeting: Executive Board Meeting December 5, 2024\n- Date: December 12, 2024\n- Pages: 3\n- Volume: 2024\n- Issue: 062\n- Series: Policy Paper No. 2024/062\n- DOI: https://doi.org/10.5089/9798400295508.007\n- Stock No: PPEA2024062\n- ISBN: 9798400295508\n- ISSN: 2663-3493\n- Subjects: Asset and liability management, Balance of payments, Balance of payments need, Credit risk, Debt restructuring, Debt sustainability, External debt, Financial regulation and supervision\n- Keywords: Balance of payments need, Credit risk, Debt restructuring, Debt sustainability, EAP review, Global, NA program, risk tolerance\n\nIndependent Evaluation Office — The IMF’s Exceptional Access Policy: Executive Board Meeting December 5, 2024 (Policy Paper No. 2024/062).\n\n---\n\n Content in this bundle\n\n- Policy Paper\n  - Policy Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Policy Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2024/12/11/the-chairs-summing-up-independent-evaluation-office-the-imfs-exceptional-access-policy-559416"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/policy-papers/issues/2024/12/11/the-chairs-summing-up-independent-evaluation-office-the-imfs-exceptional-access-policy-559416/index.md)",
    "[Structured JSON version](/en/publications/policy-papers/issues/2024/12/11/the-chairs-summing-up-independent-evaluation-office-the-imfs-exceptional-access-policy-559416/index.json)",
    "[Bundle manifest](/en/publications/policy-papers/issues/2024/12/11/the-chairs-summing-up-independent-evaluation-office-the-imfs-exceptional-access-policy-559416/bundle-manifest.json)",
    "Published: December 12, 2024",
    "Series: Policy Papers",
    "DOI: https://doi.org/10.5089/9798400295508.007",
    "Executive Directors welcomed the report of the Independent Evaluation Office (IEO) on the IMF’s Exceptional Access Policy (EAP).",
    "The report covered:",
    "Directors recognized that the Fund has sought to find a generally good balance between rules and flexibility in applying the EAP, while reinforcing transparency and accountability and adopting adequate safeguards.",
    "Directors generally concurred with the thrust of the evaluation that the EAP:",
    "Balance between rules and flexibility:",
    "Transparency and accountability:",
    "Safeguards:",
    "Decision-making procedures:",
    "Publication title: The Chair’s Summing Up Independent Evaluation Office—The IMF’s Exceptional Access Policy: Executive Board Meeting: Executive Board Meeting December 5, 2024",
    "Date: December 12, 2024",
    "Pages: 3",
    "Volume: 2024",
    "Issue: 062",
    "Series: Policy Paper No. 2024/062",
    "DOI: https://doi.org/10.5089/9798400295508.007",
    "Stock No: PPEA2024062",
    "ISBN: 9798400295508",
    "ISSN: 2663-3493",
    "Subjects: Asset and liability management, Balance of payments, Balance of payments need, Credit risk, Debt restructuring, Debt sustainability, External debt, Financial regulation and supervision",
    "Keywords: Balance of payments need, Credit risk, Debt restructuring, Debt sustainability, EAP review, Global, NA program, risk tolerance",
    "**Policy Paper**"
  ],
  "related": [
    {
      "title": "Policy Paper",
      "role": "paper",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/pp/2024/english/ppea2024062.pdf",
      "summary": {
        "path": "/-/media/files/publications/pp/2024/english/ppea2024062.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/pp/2024/english/ppea2024062.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/policy-papers/issues/2024/12/11/the-chairs-summing-up-independent-evaluation-office-the-imfs-exceptional-access-policy-559416/index.md",
    "json": "/en/publications/policy-papers/issues/2024/12/11/the-chairs-summing-up-independent-evaluation-office-the-imfs-exceptional-access-policy-559416/index.json",
    "bundleManifest": "/en/publications/policy-papers/issues/2024/12/11/the-chairs-summing-up-independent-evaluation-office-the-imfs-exceptional-access-policy-559416/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-19T02:15:09.302Z"
}