Safeguards Assessments - 2025 Update

Policy Papers, September 30, 2025

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Safeguards assessments are a key pillar of the IMF’s risk management framework.
They aim to mitigate the risks of misuse of Fund resources and misreporting of program monetary data.
Assessments are mandatory for Fund-supported financing arrangements and are complemented by ongoing monitoring for as long as credit remains outstanding.
Full safeguards assessment reports are confidential; the IMF Executive Board receives a summary of safeguards findings and recommendations through member country staff reports.
The Board also receives periodic reports on safeguards activities.
This update covers safeguards activity between May 2022 and April 2025.

Objective: Mitigate risks of misuse of Fund resources and misreporting of program monetary data.
Mandatory application: All Fund-supported financing arrangements.
Monitoring: Ongoing monitoring for the duration that credit remains outstanding.
Reporting: Summaries of safeguards findings and recommendations provided to the IMF Executive Board via member country staff reports; periodic Board reports on safeguards activities.

Confidentiality: Full safeguards assessment reports remain confidential.
Executive Board access: Summaries and periodic activity reports are provided to the Board.
Temporal coverage: Activity in this update spans from May 2022 to April 2025.

Subjects: Auditing, Central bank governance, Central Banks, Economic and financial statistics, External audit, Internal audit, Monetary statistics, Public financial management (PFM)
Keywords: Africa, Asia and Pacific, Auditing, Central Asia, Central bank governance, External audit, Global, governance arrangement, IMF policy, IMF staff, Internal audit, Middle East, Middle East and Central Asia, Monetary statistics, staff report, staff resource, transparency Policy, Western Hemisphere