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Annual Report of the Executive Board for the Financial Year Ended April 30, 2014

Reference Materials

October 2014


Chapter 1: Overview

Executive Board Calendar

• The Managing Director’s Global Policy Agenda:
      ○ October 2013
      ○ April 2014

• Statements by the Managing Director on the Work Program of the Executive Board:
      ○ June 2013
      ○ November 2013


Chapter 2: Developments in the Global Economy and Financial Markets

• World Economic Outlook:
      ○ October 2013
      ○ April 2014

• Global Financial Stability Report
      ○ October 2013
      ○ April 2014

• Fiscal Monitor:
      ○ October 2013
      ○ April 2014


Chapter 3: Managing Multiple Transitions

Policies for an Interconnected World

• The Managing Director’s Global Policy Agenda:
      ○ October 2013
      ○ April 2014

Mutual Assessment Process

Macroeconomic and Reform Priorities Report

2014 Triennial Surveillance Review—Concept Note

Regional Economic Outlook Reports

Global Liquidity—Issues for Surveillance

• IMF Executive Board Discusses Nordic Regional Report on Denmark, Finland, Norway, and Sweden, PR No. 13/324: www.imf.org/external/np/sec/pr/2013/pr13324.htm

• IMF Executive Board Reviews the Fund’s Strategy for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT): www.imf.org/external/np/sec/pr/2014/pr14167.htm

Financial Surveillance Strategy—Progress Report

Factsheet—Standards and Codes: The Role of the IMF

• IMF Executive Board Reviews Mandatory Financial Stability Assessments Under the Financial Sector Assessment Program, PR No. 14/08 : www.imf.org/external/np/sec/pr/2014/pr1408.htm

• IMF Executive Board Discusses 2013 Low-Income Countries Global Risks and Vulnerabilities Report, PR No. 13/376: www.imf.org/external/np/sec/pr/2013/pr13376.htm

Women, Work, and the Economy

Review of the Policy on Debt Limits in Fund-Supported Programs

• Heads of Agency Pledge to Do More to Support Poorest Countries to Benefit from Trade, PR No. 13/252: www.imf.org/external/np/sec/pr/2013/pr13252.htm

Sustaining Long-Run Growth and Macroeconomic Stability in Low-Income Countries—The Role of Structural Transformation and Diversification

The Diversification Toolkit: Export Diversification and Quality Databases

European Bank Coordination “Vienna” Initiative

• Vienna Initiative Sets Priorities for 2014, PR No. 14/11: www.imf.org/external/np/sec/pr/2014/pr1411.htm

Toward New Horizons—Arab Economic Transformation Amid Political Transitions

• IMF Launches Quarterly Bulletin on Asia and Pacific Small States, PR No. 14/164: www.imf.org/external/np/sec/pr/2014/pr14164.htm

Financing and the Global Safety Net

Factsheet—IMF Standing Borrowing Arrangements

Stocktaking the Fund’s Engagements with Regional Financing Arrangements

• IMF Executive Board Discusses FCL, PLL, and RFI Review, PR No. 14/84: www.imf.org/external/np/sec/pr/2014/pr1484.htm

• IMF Executive Board Reviews Conditionality in Evolving Monetary Policy Regimes, PR No. 14/148 : www.imf.org/external/np/sec/pr/2014/pr14148.htm

• Hungary Repays Early Its Outstanding Obligations to the IMF, PR No. 13/306: www.imf.org/external/np/sec/pr/2013/pr13306.htm

Factsheet: Debt Relief Under the Heavily Indebted Poor Countries (HIPC) Initiative

Factsheet: The Multilateral Debt Relief Initiative

• IMF Executive Board Completes Sixth Review Under Policy Support Instrument for Mozambique and Approves a New Three-Year PSI, PR No. 13/231: www.imf.org/external/np/sec/pr/2013/pr13231.htm

• IMF Executive Board Completes Sixth Review Under Policy Support Instrument for Uganda and Approves a New Three-Year PSI, PR No. 13/239: www.imf.org/external/np/sec/pr/2013/pr13239.htm

• IMF Executive Board Completes Seventh and Final Review Under the Policy Support Instrument with Rwanda Approves New Three-Year PSI, PR No. 13/483: www.imf.org/external/np/sec/pr/2013/pr13483.htm


Chapter 4: Supporting a Sustainable Recovery and Restoring Resilience

Policy Advice

• Reassessing the Role and Modalities of Fiscal Policy in Advanced Economies: www.imf.org/external/np/pp/eng/2013/072113.pdf

• Fiscal Policy and Income Inequality: www.imf.org/external/np/pp/eng/2014/012314.pdf

• Issues in International Taxation and the Role of the IMF: www.imf.org/external/np/pp/eng/2013/062813.pdf

• Code of Good Practices on Fiscal Transparency (2007): www.imf.org/external/np/fad/trans/code.htm

• IMF Approves Unification of Discount Rates used in External Debt Analysis for Low-Income Countries, PR No. 13/408: www.imf.org/external/np/sec/pr/2013/pr13408.htm

• IMF Executive Board Discusses Sovereign Debt Restructuring—Recent Developments and Implications for the Fund’s Legal and Policy Framework, PIN No. 13/61 : www.imf.org/external/np/sec/pn/2013/pn1361.htm

Paris Club

• Public Debt Management Forum and U.S. Treasury Roundtable on Treasury Markets and Debt Management Held at IMF Headquarters, PR No. 13/233: www.imf.org/external/np/sec/pr/2013/pr13233.htm

• IMF–World Bank Publish Revised Guidelines for Public Debt Management, PR No. 14/181: www.imf.org/external/np/sec/pr/2014/pr14181.htm

• Modernizing the Framework for Fiscal Policy and Public Debt Sustainability Analysis: www.imf.org/external/np/pp/eng/2011/080511.pdf

• Global Impact and Challenges of Unconventional Monetary Policies: www.imf.org/external/np/pp/eng/2013/090313.pdf

• Unconventional Monetary Policy—Recent Experiences and Prospects: www.imf.org/external/pp/longres.aspx?id=4764

• Global Liquidity—Credit and Funding Indicators: www.imf.org/external/np/pp/eng/2013/071613b.pdf

• IMF Executive Board Discusses Key Aspects of Macroprudential Policy, PR No. 13/342: www.imf.org/external/np/sec/pr/2013/pr13342.htm

• Jobs and Growth: Analytical and Operational Considerations for the Fund: www.imf.org/external/np/pp/eng/2013/031413.pdf

• IMF Executive Board Discusses Further Considerations on Assessing Reserve Adequacy, PR No. 14/96: www.imf.org/external/np/sec/pr/2014/pr1496.htm

• Annual Report 2011: Pursuing Equitable and Balanced Growth: www.imf.org/external/pubs/ft/ar/2011/eng/

Quotas and Governance

• IMF Executive Board Approves Major Overhaul of Quotas and Governance, PR No. 10/418: www.imf.org/external/np/sec/pr/2010/pr10418.htm

• IMF Executive Board Reports on the Quota Formula Review, PR No. 13/30: www.imf.org/external/np/sec/pr/2013/pr1330.htm

• IMF Executive Board Reports to the Board of Governors on the 2010 Reforms and the Fifteenth General Review of Quotas, PR No. 14/22: www.imf.org/external/np/sec/pr/2014/pr1422.htm

• Quota Formula—Data Update and Further Considerations: www.imf.org/external/np/pp/eng/2013/060513.pdf

Capacity Development

• IMF Executive Board Reviews the Fund’s Capacity Development Strategy, PIN No. 13/72: www.imf.org/external/np/sec/pn/2013/pn1372.htm

• IMF Welcomes Paraguay’s First Anti-Money Laundering and Combating the Financing of Terrorism Plan, PR No. 13/208: www.imf.org/external/np/sec/pr/2013/pr13208.htm

• Donors Pledge US$18.9 Million to Strengthen Technical Assistance on Anti-Money Laundering and Combating the Financing of Terrorism, PR No. 13/527: www.imf.org/external/np/sec/pr/2013/pr13527.htm

Data and Data Standards Initiatives

• Palau Begins Participation in the IMF’s General Data Dissemination System, PR No. 13/316: www.imf.org/external/np/sec/pr/2013/pr13316.htm

• Myanmar Begins Participation in the IMF’s General Data Dissemination System, PR No. 13/449: www.imf.org/external/np/sec/pr/2013/pr13449.htm

• The Republic of Marshall Islands Begins Participation in the IMF’s General Data Dissemination System, PR No. 14/89: www.imf.org/external/np/sec/pr/2014/pr1489.htm

• Special Data Dissemination Standard Workshop in Gaborone, Botswana, PR No. 13/160: www.imf.org/external/np/sec/pr/2013/pr13160.htm

• Statement by the IMF Executive Board on Argentina, PR No. 13/497: www.imf.org/external/np/sec/pr/2013/pr13497.htm

• Selected Decisions and Selected Documents of the IMF, Thirty-Sixth Issue— Strengthening the Effectiveness of Article VIII, Section 5: www.imf.org/external/pubs/ft/sd/index.asp?decision=13183-(04/10)

• G20 Officials Welcome Progress in Implementing the G20 Data Gaps Initiative, PR No. 13/251: www.imf.org/external/np/sec/pr/2013/pr13251.htm

• IMF Statistics Department Drafts Template to Collect Data on Government Revenues from Natural Resources, PR No. 14/54: www.imf.org/external/np/sec/pr/2014/pr1454.htm

• IMF Releases Data on the Currency Composition of Foreign Exchange Reserves with Additional Data on Australian and Canadian Dollar Reserves, PR No. 13/236: www.imf.org/external/np/sec/pr/2013/pr13236.htm

• IMF Releases Results from 2012 Coordinated Direct Investment Survey, PR No. 13/486: www.imf.org/external/np/sec/pr/2013/pr13486.htm

• IMF Releases Revised Results and Expands Coordinated Direct Investment Survey to 100 Economies, PR No. 13/230: www.imf.org/external/np/sec/pr/2013/pr13230.htm

• IMF Releases Results of 2012 Coordinated Portfolio Investment Survey, PR No. 13/444 : www.imf.org/external/np/sec/pr/2013/pr13444.htm

• IMF Releases 2013 Financial Access Survey Data, PR No. 13/345 : www.imf.org/external/np/sec/pr/2013/pr13345.htm

• IMF Statistical Forum Discusses the Role of Statistics for Global Economic and Financial Stability, PR No. 13/447: www.imf.org/external/np/sec/pr/2013/pr13447.htm


Chapter 5: Finances, Organization, and Accountability

Budget and Income

• IMF Annual Report 2013: Promoting a More Secure and Stable Global Economy: www.imf.org/external/pubs/ft/ar/2013/eng

• IMF Annual Report 2012: Working Together to Support Global Recovery: www.imf.org/external/pubs/ft/ar/2012/eng

• Factsheet—Gold in the IMF: www.imf.org/external/np/exr/facts/gold.htm

• Factsheet—IMF Quotas: www.imf.org/external/np/exr/facts/quotas.htm

• IMF Secures Financing to Sustain Concessional Lending to World’s Poorest Countries over Longer Term, PR No. 13/398: www.imf.org/external/np/sec/pr/2013/pr13398.htm

• IMF Executive Board Discusses the Adequacy of the Fund’s Precautionary Balances, PR No. 14/75: www.imf.org/external/np/sec/pr/2014/pr1475.htm

Human Resources Policies and Organization

• FY 2013 Diversity and Inclusion Annual Report: www.imf.org/external/np/div/2013/index.pdf

• IMFC Extends Term of Chairman Tharman Shanmugaratnam by One Year, PR No. 13/525: www.imf.org/external/np/sec/pr/2013/pr13525.htm

Accountability

• IEO evaluation documents: www.ieo-imf.org/ieo/pages/IEOHome.aspx

• IMF Executive Board Discusses Implementation Plan in Response to Board-Endorsed Recommendations for the IEO Evaluation of the Role of the IMF as Trusted Advisor, PR No. 13/302: www.imf.org/external/np/sec/pr/2013/pr13302.htm

• The Fund’s Transparency Policy: www.imf.org/external/np/pp/eng/2009/102809.pdf

• Key Trends in Implementation of the Fund’s Transparency Policy: www.imf.org/external/np/pp/eng/2013/100313.pdf

• IMF Executive Board Reviews the IMF's Transparency Policy, PR No. 13/270: www.imf.org/external/np/sec/pr/2013/pr13270.htm


Boxes and Tables

Web Box 3.1: Bilateral Surveillance
Web Table 3.1: Article IV Consultations Completed during FY2014
Web Table 4.1: Exogenous Shocks Facility Subsidy Contributions, as of end-April 2014
Web Table 4.2: Debt Relief Following Implementation of the MDRI, as of end-April 2014
Web Table 4.3: Implementation of the HIPC Initiative, as of end-April 2014
Web Table 5.1: Distribution of IMF Professional and Managerial Staff by Nationality
Web Table 5.2: Distribution of IMF Staff by Gender
Web Table 5.3: Distribution of IMF Staff by Developing Countries and Advanced Economies
Web Table 5.4: IMF Staff Salary Structure

Appendixes
Appendix I: International Reserves
Appendix II: Financial Operations and Transactions
Appendix III: Press Communiqués of the IMFC and Development Committee (October 2013 and April 2014)
Appendix IV: Executive Directors and Voting Power
Appendix V: Changes in Membership of the Executive Board
Appendix VI: Financial Statements for FY2014