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Standards and Codes - Implementing the Fund's Medium-Term Strategy and the Recommendations of the 2005 Review of the Initiative

Standards and Codes

Public Information Notice: IMF Executive Board Reviews the Standards and Codes Initiative, August 8, 2005

Public Information Notice: IMF Executive Board Reviews International Standards: Strengthening Surveillance, Domestic Institutions, and International Markets, April 3, 2003

Press Release: IMF Executive Board Approves 12-Month Anti-Money Laundering Pilot Project, November 22, 2002

Policy Papers and Selected News Releases Related to the IMF's Standards Initiative

World Bank ROSCs

See Also:

Financial Sector Assessment Program (FSAP)

Standards and Codes: The Role of the IMF - A Factsheet





Reports on the Observance of Standards and Codes (ROSCs)
Last updated:  Friday, June 21, 2019


ROSCs summarize the extent to which countries observe certain internationally recognized standards and codes. The IMF has recognized 12 areas and associated standards as useful for the operational work of the Fund and the World Bank. These comprise accounting; auditing; anti-money laundering and countering the financing of terrorism (AML/CFT); banking supervision; corporate governance; data dissemination; fiscal transparency; insolvency and creditor rights; insurance supervision; monetary and financial policy transparency; payments systems; and securities regulation; AML/CFT was added in November 2002. Reports summarizing countries' observance of these standards are prepared and published at the request of the member country. They are used to help sharpen the institutions' policy discussions with national authorities, and in the private sector (including by rating agencies) for risk assessment. Short updates are produced regularly and new reports are produced every few years.


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Macao Special Administrative Region of the People's Republic of China
Macao Special Administrative Region of the People's Republic of China: Report on Observance of Standards and Codes (ROSC) - Basel Core Principles for Effective Banking Supervision (PDF File :495 KB) August 31, 2011

Madagascar, Republic of
Republic of Madagascar: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, and Anti-Money Laundering (PDF File :661 KB)
Note :Published as part of a Financial System Stability Assessment
August 15, 2006

Malawi
Malawi: Report on the Observance of Standards and Codes-Fiscal Transparency Module-Update (PDF File :247 KB)Update March 12, 2007
Malawi: Report on Observance of Standards and Codes--Data Module, Response by the Authorities, and Detailed Assessment Using Data Quality Assessment Framework (PDF File :1.11 MB) February 17, 2005
Malawi: Report on the Observance of Standards and Codes--Fiscal Transparency Module (PDF File :678 KB) August 16, 2002

Maldives
Maldives: Report on Observance of Standards and Codes - FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (PDF File :333 KB) January 4, 2012

Mali
Mali: Report on the Observance of Standards and Codes--Fiscal Transparency Module (PDF File :558 KB) March 1, 2002

Malta
Malta: Report on the Observance of Standards and Codes - Data Module; Response by the Authorities; and Detailed Assessments Using the Data Quality Assessment Framework (PDF File :755 KB) August 18, 2006
Malta: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, and Payment Systems (PDF File :611 KB)
Note :Published as part of a Financial System Stability Assessment
September 3, 2003

Mauritania, Islamic Republic of
Islamic Republic of Mauritania;Report on the Observance of Standards and Codes--Fiscal Transparency Module (PDF File :739 KB) December 12, 2002

Mauritius
Mauritius: Report on the Observance of Standards and Codes - FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (PDF File :471 KB) December 11, 2008
Mauritius: Report on Observance of Standards and Codes-Data Module, Response by the Authorities, and Detailed Assessment Using the Data Quality Assessment Framework (DQAF) (PDF File :1.01 MB) August 14, 2008
Mauritius: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Payment Systems, Monetary and Financial Policy Transparency, and Anti-Money Laundering (PDF File :2.73 MB)
Note :Published as part of a Financial System Stability Assessment
October 14, 2003
Mauritius: Report on Observance of Standards and Codes--Data Module; Response by the Authorities; and Detailed Assessment Using the Data Quality Assessment Framework (PDF File :5.39 MB) April 24, 2002

Mexico
Mexico : Report on the Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) January 3, 2018
Mexico: Report on the Observance of Standards and Codes (ROSC)—Data Module (PDF File :693 KB) July 8, 2015
Mexico: Report on the Observance of Standards and Codes—Data Module (PDF File :561 KB) November 20, 2013
Mexico: Report on Observance of Standards and Codes-Data Module (PDF File :0.99 MB) October 26, 2010
Mexico: Report on the Observance of Standards and Codes - FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (PDF File :347 KB) January 13, 2009
Mexico: Report on the Observance of Standards and Codes - FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (PDF File :271 KB) December 27, 2005
Mexico: Report on the Observance of Standards and Codes--Data Module; Response by the Authorities; and Detailed Assessments Using Data Quality Assessment Framework (PDF File :1.37 MB) June 3, 2003
Mexico: Report on the Observance of Standards and Codes--Fiscal Transparency Module (PDF File :288 KB) September 16, 2002
Mexico: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency; Payment Systems; Banking Supervision; Securities Regulation; and Insurance Supervision (PDF File :6.03 MB)
Note :Published as part of a Financial System Stability Assessment
October 25, 2001

Moldova, Republic of
Republic of Moldova: Report on Observance of Standards and Codes - Data Module, Response by the Authorities, and Detailed Assessments Using the Data Quality Assessment Framework (DQAF) (PDF File :759 KB) March 10, 2006
Republic of Moldova: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision (PDF File :1.33 MB)
Note :Published as part of a Financial System Stability Assessment
February 23, 2005
Republic of Moldova: Report on the Observance of Standards and Codes--Fiscal Transparency Module (PDF File :452 KB) December 20, 2004

Mongolia
Mongolia: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision and Monetary Policy Transparency (PDF File :593 KB)
Note :Published as part of a Financial System Stability Assessment
September 12, 2008
Mongolia: Report on the Observance of Standards and Codes - Data Module, Response by the Authorities, and Detailed Assessment Using the Data Quality Assessment Framework (DQAF) (PDF File :718 KB) April 4, 2008
Mongolia: Report on Observance of Standards and Codes--Fiscal Transparency Update (PDF File :59.8 KB)Update May 31, 2005
Mongolia: Report on the Observance of Standards and Codes--Fiscal Transparency (PDF File :708 KB) December 10, 2001
Report on the Observance of Standards and Codes (ROSC): Republic of Mongolia -- Data Module May 2, 2001

Morocco
Morocco: Report on Observance of Standards and Codes - Fiscal Transparency Module (PDF File :539 KB) August 16, 2005
Morocco: Financial System Stability Assessment including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Regulation, Securities Regulation, Payment Systems, and Monetary and Financial Policy Transparency (PDF File :3.29 MB)
Note :Published as part of a Financial System Stability Assessment
July 17, 2003
Morocco: Report on the Observance of Standards and Codes-Data Module; Response by the Authorities; and Detailed Assessments Using the Data Quality Assessment Framework (PDF File :1.19 MB) April 4, 2003

Mozambique, Republic of
Republic of Mozambique: Report on Observance of Standards and Codes - Fiscal Transparency Module (PDF File :538 KB) May 9, 2008
Republic of Mozambique: Report on the Observance of Standards and Codes - Data Module - Update (PDF File :515 KB)Update August 10, 2005
Republic of Mozambique: 2003 Article IV Consultation--Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Mozambique -- An Update (PDF File :2.72 MB)Update
Note :Update of the fiscal module was published as part of Mozambique's 2003 Article IV (see page 12).
March 5, 2004
Republic of Mozambique: Financial System Stability Assessment Including Report on the Observance of Standards and Codes on the following topics: Banking Supervision, Payment Systems, and Anti-Money Laundering and Combating the Financing of Terrorism (PDF File :1.65 MB)
Note :Published as part of a Financial System Stability Assessment
March 5, 2004
Republic of Mozambique: Report on Observance of Standards and Codes-- Data Module; Response by the Authorities; and Detailed Assessment Using Data Quality Assessment Framework (PDF File :1.32 MB) March 13, 2003
Republic of Mozambique: Report on the Observance of Standards and Codes--Fiscal Transparency Module--Update (PDF File :95.5 KB)Update August 7, 2002
Report on the Observance of Standards and Codes: Republic of Mozambique--Fiscal Transparency February 22, 2001

Data Quality Assessments in Data Module ROSCs

Data Module ROSCs have included a substantial data quality assessment component since early 2001. This assessment is based on the Data Quality Assessment Framework (DQAF). The July 2003 version of the DQAF was introduced at the Fifth Review of the Fund's Data Standards Initiatives. It supersedes earlier versions of the DQAF to reflect experience and developments in international methodological standards and generally accepted good statistical practices. Accordingly, ratings for ROSCs using the July 2003 version of the DQAF are not necessarily directly comparable with ROSCs using earlier versions. The July 2003 version also is now used in Data Module ROSC updates for countries that originally were assessed using earlier versions.