Selected Decisions and Selected Documents of the IMF, Thirty- Eighth Issue -- Summings Up and Concluding Remarks for Policy Items—Modification of Review and Finalization Process

Prepared by the Legal Department of the IMF
As updated as of February 29, 2016

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ARTICLE XII, SECTION 3
Executive Directors

SUMMINGS UP AND CONCLUDING REMARKS FOR POLICY ITEMS—MODIFICATION OF REVIEW AND FINALIZATION PROCESS

The Executive Board approves the proposals with regard to the review and finalization of summings up and concluding remarks for policy items as set forth in EBAP/07/95 (6/20/07).

Decision No. A-12833-(07/55),

June 25, 2007

Annex

Approved Proposals Set Forth in EBAP/07/95

  • • The period for sending electronic comments on draft policy summings up should be extended from two hours to one full day, between 10:00 a.m. and 6:00 p.m. This will provide the Secretary some room to prepare for the circulation of the draft summing up in the morning.

  • • The Secretary will inform the Board in advance as to when the draft summing up or concluding remarks on a policy item will be circulated for Directors’ comments.

  • • The Chair and the Secretary will be invited to use their discretion in deciding on when the draft summing up or concluding remarks should be read to the Board. In cases where the Board discussion has been particularly rich, the Secretary may need more time to incorporate the views of Directors expressed during the discussion, with the benefit of the transcript. In such cases, the Chair may choose to read the draft summing up in a future session instead of at the end of the Board meeting. To avoid complicating the Board’s agenda, it is envisaged that this procedure will be used selectively, only when the extra time is necessary to guarantee the quality and evenhandedness of the summing up.

Apart from the extended time frame for sending comments, the Secretary should continue with the current practice of handling Directors’ comments received via email on the basis of the record of the Board discussion. The current practice whereby the Secretary consults bilaterally with Executive Directors to discuss issues of their concern has been found useful and all Executive Directors are encouraged to use available channels of communication. This approach, which does not require an additional layer of bureaucracy, and would not entail extra work, is consistent with the maintenance of streamlined practices.

  • • The present distribution of summaries of grays should be maintained. The summaries of grays are meant to highlight selected points that warrant management’s attention as understood by the Secretary, and to list questions put to the staff for ease of reference. The summaries are not meant to reflect all the views raised in the grays and cannot substitute for the reading of all the grays by the staff involved. Circulating the summaries more widely for the use of Directors would likely require that the views and nuances be captured more comprehensively, and with greater attention to the range of positions. This would make the document less concise and probably require an earlier cut-off time for submitting grays.

  • • The Secretary will review the text of the Compendium of Executive Board Work Procedures with a view to clarifying further: (i) when the Board is expected to meet in an informal seminar format and in a formal session; and (ii) the distinction between summings up and concluding remarks. The Compendium is reviewed periodically and this modification will be reflected in the next revision.

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