Press Release No. 97/21

Press Release: IMF to Issue Press Information Notices on Article IV Consultations With Member Countries on a Voluntary Basis

April 25, 1997

The Executive Board of the International Monetary Fund (IMF) has agreed to the issuance of Press Information Notices on a voluntary basis, following the conclusion of Article IV Consultations, for member countries seeking to make known the views of the IMF to the public. This action is intended to strengthen IMF surveillance over the economic policies of member countries by increasing the transparency of the IMF assessment of these policies while preserving the integrity and confidentiality of the Article IV consultation process.

A Press Information Notice will be brief (3-4 pages) and will have two sections:

(i) A background section with factual information on the member country’s economy, which will include a table of economic indicators; and

(ii) The IMF’s assessment of the member country’s economic prospects and policies, as reflected in the IMF Executive Board’s discussion of the Article IV review of the member country’s circumstances.

The Press Information Notice will normally be released shortly after the Executive Board meeting.