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Cover IMF Staff Country Reports
Somalia: Staff Report for the 2022 Article IV Consultation and Fourth Review Under the Extended Credit Facility Arrangement—Informational Annex
International Monetary Fund. Middle East and Central Asia Dept.

SOMALIA

Keywords:
IMF CD support; IMF Data Standards Initiatives; balance of payments compilation; financial asset; U.S. dollar banknote; Financial statistics; Budget planning and preparation; External sector statistics; Bank supervision
Cover Policy Papers
The IMF Strategy for Fragile and Conflict-Affected States
International Monetary Fund
This paper proposes a comprehensive Strategy to strengthen IMF support to FCS in accordance with the Fund’s mandate and comparative advantage. The Strategy is a response to the Board-endorsed recommendations of the 2018 Independent Evaluation Office (IEO) Report on The IMF and Fragile States. To achieve these goals, the Strategy will benefit from additional resources reflected in the FY23-25 Medium-Term Budget, as per the budget augmentation framework discussed by the Board in December 2021. The Strategy also provides measures to better support staff working on FCS. Given the inherent risks in FCS engagement, the Strategy will be phased in starting in FY22, with implementation gradually accelerating between FY23-FY25.
Keywords:
FCS strategy; IMF FCS list; IMF engagement; field presence; IMF field presence; staffing change; IMF core activity; engagement model; Climate change; Inclusive growth; Absorptive capacity; Macro-fiscal framework; Global; Asia and Pacific
Cover Policy Papers
Eleventh Periodic Monitoring Report on The Status of Management Implementation Plans In Response To Board-Endorsed IEO Recommendations
International Monetary Fund. Office of Internal Audit
The Eleventh Periodic Monitoring Report (PMR) on the Status of Management Implementation Plans (MIPs) in Response to Board-Endorsed Independent Evaluation Office (IEO) Recommendations assessed the progress made over the past 18 months on 72 actions contained in 10 MIPs. Significant progress has been made with the implementation of management actions, despite challenges that have arisen from the ongoing COVID-19 pandemic. Overall, 29 of the 72 actions for which implementation progress is assessed in the Eleventh PMR were deemed to have been satisfactorily implemented, while 35 remain open, and eight actions are being reformulated in line with the Board-approved triage framework for long-standing open actions. Despite the effect of reprioritization to make space for the urgent needs of the membership resulting from the pandemic, the pace of implementation observed in the Eleventh PMR, with the 29 actions closed, significantly exceeds the previous trend of about 15 implemented actions per year. Of the 35 open actions, 16 are more than one year past their implementation due dates. The reprioritization of activities owing to the COVID-19 pandemic and resource constraints on account of several years of flat budgets led to delays in the implementation of several actions, partly because of the postponement of important reviews.
Keywords:
H. IMF; IEO recommendation; transparency policy; IEO evaluation; Eleventh PMR; Institutional View on capital flows; Financial Sector Assessment Program; COVID-19; Capital flows; Unconventional monetary policies; Global; East Asia
Cover Policy Papers
Fund Concessional Financial Support For Low-Income Countries—Responding To The Pandemic
International Monetary Fund
This paper proposes a package of policy reforms and a funding strategy to ensure that the Fund has the capacity to respond flexibly to LICs’ needs during the pandemic and recovery. The key policy reforms proposed include: • raising the normal annual/cumulative limits on access to PRGT resources to 145/435 percent of quota, the same thresholds for normal access in the GRA; • eliminating the hard limits on exceptional access (EA) to PRGT resources for the poorest LICs, enabling them to obtain all financing on concessional terms if the EA criteria are met; • changes to the framework for blending concessional and non-concessional resources to make it more robust and less complex; • stronger safeguards to address concerns regarding debt sustainability and capacity to repay the Fund; and • retaining zero interest rates on PRGT loans, consistent with the established rules for setting these interest rates.
Keywords:
PRGT lending; PRGT subsidization; fund financing commitment; PRGT account; PRGT resource; WB financing; COVID-19; Income; Loans; Credit; Concessional external borrowing; Global
Cover Policy Papers
IMF Policy Paper: Review of the Fund’S Income Position for FY 2020 And FY 2021–2022
International Monetary Fund

This paper reviews the Fund's income position for FY 2020 and FY 2021-22. It updates the April 2019 projections and proposes decisions for the current year.

Keywords:
PP; income; lending; SDR billion; outlook factor; SDR Department; intermediation cost; meeting FY; credit risk; income projection; Personal income; Discount rates; SDR interest rate; Reserves accumulation; Budget planning and preparation; Global; projected FY; about SDR
Cover Policy Papers
Review of the Fund’s Income Position for FY 2020 and FY 2021–2022―Supplementary Information
International Monetary Fund

This paper reviews the Fund's income position for FY 2020 and FY 2021-22. It updates the April 2019 projections and proposes decisions for the current year.

Keywords:
PP; income; lending; SDR billion; outlook factor; SDR Department; interest income; increase interest income; lending projection; implicit income; Personal income
Cover Policy Papers
Tenth Periodic Monitoring Report On The Status Of Management Implementation Plans In Response To Board-Endorsed IEO Recommendations
International Monetary Fund
The Tenth Periodic Monitoring Report (PMR) on the Status of Management Implementation Plans (MIPs) in Response to Board-Endorsed Independent Evaluation Office (IEO) Recommendations assesses the progress made over the last year on actions contained in 10 MIPs with open management actions.
Keywords:
PP; Board-endorsed Independent Evaluation Office; IEO recommendation; IEO evaluation; PMR; staff diversity; PMR monitoring; Financial Sector Assessment Program; Communications in revenue administration; Financial sector; Special Data Dissemination Standard (SDDS); Global
Cover IMF Staff Country Reports
Somalia: Staff Report for the 2019 Article IV Consultation, Second Review Under The Staff-monitored Program, and Request for New Staff-monitored Program—Informational Annex
International Monetary Fund. Middle East and Central Asia Dept.

2019 Article IV Consultation-Second Review Under the Staff-Monitored Program, and Request for New Staff-Monitored Program-Press Release; Staff Report; and Statement by the Executive Director for Somalia

Keywords:
ISCR; CR; Somali authorities; authority; U.S. dollar banknote; holding; financial asset; liability positions vis-à-vis nonresident; monthly consumer price index; donor support; federal budget; External sector statistics; Consumer price indexes
Cover Policy Papers
Guidance Note for the Use of Third-Party Indicators in Fund Reports
International Monetary Fund. Strategy, Policy, &, Review Department, and International Monetary Fund. Statistics Dept.
This note provides guidance on use of third-party indicators (TPIs) in Fund reports, in line with the policy endorsed by the Board in November 2017.
Keywords:
PP; staff report; staff Analysis; fund products; IMF staff calculation; fund staff; TPI framework; staff discussion note; Corruption; Business environment; Data Quality Assessment Framework (DQAF); Global
Cover Policy Papers
The Role of the Fund in Governance Issues – Review of the Guidance Note – Preliminary Considerations – Background Notes
International Monetary Fund

The Role of the Fund in Governance Issues - Review of the Guidance Note - Preliminary Considerations - Background Notes

Keywords:
PP; governance; country; corruption issue; fund; governance regime; UNDP document; good governance; governance arrangement; note I. distinguishing governance; Corruption