Policy Papers
2020
February 13, 2020
Fifteenth and Sixteenth General Reviews of Quotas—Report of the Executive Board to the Board of Governors
Description: On January 16, 2020, the Executive Board adopted a Report to the Board of Governors proposing that the Board of Governors adopt a Resolution concluding the Fifteenth General Review of Quotas with no increase in quotas and providing guidance for the Sixteenth General Review of Quotas in line with the IMFC guidance in the October 19, 2019 Communiqué. The Resolution was adopted by the Board of Governors, effective February 7, 2020, and was designated No. 75-1.
February 13, 2020
Fifteenth General Review of Quotas—Notification from the Executive Board to the Board of Governors: October 2019
Description: On October 15, 2019, the Executive Board notified the Board of Governors that the conclusion of the Fifteenth Review was part of a package on Fund resources and governance reform on which discussions were still ongoing, and that it would report to the Board of Governors by November 2019 on the outcome of discussions on the Fifteenth Review, the goals and timetable for the Sixteenth Review, and on the way forward on IMF resources.
February 11, 2020
Key Trends in Implementing The Fund's Transparency Policy
Description: At the time of the 2005 Review of the Fund’s Transparency Policy, the Executive Board requested regular updates on trends in implementing the transparency policy. The tables in this report provide an overview of recent developments, reflecting information on documents considered by the Board in 2017 and updating the previous annual report on Key Trends. Deeper analysis of these trends is undertaken in the context of periodic reviews of the Fund’s Transparency Policy.
February 11, 2020
Public Sector Debt Definitions and Reporting in Low-Income Developing Countries
Description: Increasing public debt vulnerabilities in low-income developing countries (LIDCs) have heightened the need for fuller and more transparent accounting of public sector debt (PSD). The framework for reporting on public sector debt is sound. But there is room for LIDCs to further improve their compilation, reporting, and dissemination of public sector debt data in international databases and more broadly the public domain.
February 10, 2020
The Evolution of Public Debt Vulnerabilities In Lower Income Economies
Description: Public debt in lower-income economies (LIEs) has risen in recent years, with half of the countries covered in this report now assessed to be at high risk of or already in debt distress.
January 16, 2020
Statement by The Managing Director on the Work Program of The Executive Board: December 11, 2019
Description: This Work Program (WP) translates the strategic directions and policy priorities laid out in the Fall 2019 Global Policy Agenda (GPA) Update and the International Monetary and Financial Committee Communiqué into an Executive Board agenda from November 2019 to October 2020, focusing on the next six months. Its main policy priorities and deliverables are as follows: • Turn evidence-based analysis into actionable policy recommendations to make economies more resilient and inclusive • Contribute to improving the multilateral system and upgrading international cooperation to bring the benefits of integration to all • Modernize the Fund’s policy toolkits to meet the challenges of a fast-changing world • Safeguard the Fund’s financial strength and undertake an ambitious internal modernization agenda
January 15, 2020
Extension Of The Periods For Consent To And Payment Of Quota Increases
Description: On December 20, 2019, the IMF’s Executive Board approved a further six-month extension of the period for members to consent to an increase in their quotas under the Fourteenth General Review of Quotas (“Fourteenth Review”) through June 30, 2020. The deadline was due to expire on December 27, 2019. However, Board of Governors Resolution No. 66-2 provides that the Executive Board may extend the period for consent as it may determine. An extension under Resolution No. 66-2 also extends the periods of consent for quota increases under the 2008 Reform of Quota and Voice (Resolution No. 63-2) and the Eleventh General Review of Quotas (Resolution No. 53-2). The Executive Board also approved a further six-month extension of the period for payment of quota increases under the Fourteenth Review, and an extension for the payment of the quota increases under the 2008 Reform, through June 30, 2020.
2019
December 27, 2019
List of IMF Member Countries with Delays in Completion of Article IV Consultations or Mandatory Financial Stability Assessments over 18 Months
Description: In accordance with Executive Board Decision No. 15106-(12/21), the Fund will publish on its external website a list of member countries whose Article IV consultations or mandatory financial stability assessments have been delayed by more than 18 months, as of December 15, 2019, since the expected deadline for conclusion.
December 27, 2019
Attendance by Officials of International Agencies at Fund Training
Description: On September 3, 2010, the Executive Board authorized the Managing Director to approve training to officials of international agencies.
December 17, 2019
Safeguards Assessment—2019 Update
Description: Safeguards assessments are a key pillar of the risk management arrangements for IMF lending. Safeguards assessments aim to mitigate the risks of misuse of Fund resources and misreporting of program monetary data under Fund arrangements. Safeguards assessment reports are confidential and therefore the IMF Executive Board is provided with a periodic report on safeguards activities on a biennial basis, in addition to high-level summaries in member country staff reports on key findings and recommendations. This update on safeguards activity covers the period May 2017 to end-April 2019 (the period).