Press Release No. 00/49

Press Release: IMF Executive Board Discusses Independent Evaluation Office

August 18, 2000

The International Monetary Fund's (IMF) Executive Board discussed on August 3, 2000 making operational the independent Evaluation Office (see Press Release No. 00/27), and agreed to publication of the background paper that provided the basis for the discussion, and the Chairman's concluding remarks that followed that discussion.

Executive Directors welcomed the paper by the Evaluation Group of the Executive Board, and considered that the proposals were an important step forward in making the IMF's independent Evaluation Office (EVO) operational. The Executive Board will be reporting on establishment of the EVO to the Board of Governors at the Prague Annual Meetings in September 2000. Executive Directors expect the office to be operational before the Spring 2001 meeting of the International Monetary and Financial Committee in Washington. They viewed the EVO as an important complement to the overall review and evaluation work undertaken in the IMF, which would enable the institution to better absorb lessons for improvements in its future work.

The background paper and the Chairman's concluding remarks from the recent Executive Board discussion have been posted on the IMF's website to provide an opportunity for public comment on the operation of the EVO. Comments and questions about the EVO should be addressed to the IMF's Public Affairs Division, External Relations Department, Washington D.C. 20431, or by email to publicaffairs@imf.org.