progress with MIPimplementation prepared by the Office of Internal Audit is scheduled to be presented to the Board in September and the reformulated MIPs to address of-track actions identified in the 2020 report on Categorization of Open Actions ( IMF, 2020 ) should be completed by the end of the year. The previous PMR was discussed at the Board before the pandemic in January 2020.
The MIP for the IMF Advice on Capital Flows evaluation sets out actions that provide a strong basis for further strengthening the IMF’s capital account work as suggested in the IEO
Follow up of past advice in Article IV reports remained uneven, being weaker for advanced countries.
Source: One Year after the 2011 Triennial Surveillance Review – Progress Report .
12. While the Board did not support the recommendation to create a new risk assessment unit, it did encourage enhanced outreach to disseminate risk assessments . In line with this, the 2011 TSR concluded that processes needed to be improved for the Fund to be able to better monitor risks. Although the IEO recommendation addressed the Fund
The Seventh PMR includes: (i) a discussion of progress made over the last year on the actions corresponding to four Management Implementation Plans (MIPs) that were classified as still “in progress” in the previous PMR; and (ii) an assessment of the progress made in achieving the high-level objectives in three areas directly related to those MIPs. In addition, an update on substantive issues related to five older MIPs agreed since 2007 is provided at the end of the report. Three new evaluations have been completed by the IEO since March 2014. In July and August 2015, Management issued the MIPs in response to these evaluations. Given that only a short time has passed since their completion, progress in addressing the actions contemplated in those MIPs will be discussed in the next PMR.
implementation of the policy, including whether it has been applied in an even-handed manner across the membership. To the extent that shortfalls are found, it will provide concrete recommendations on how these may be addressed.
Implemented (as reported in the Sixth PMR).
Table 5. Summary of Implementation Status for all Recent Management Implementation Plans (MIPs) 1 2
Number of Board-Endorsed Recommendations
Number of Follow-Up Steps in the MIPImplemented
, besides reorganizing the institutional arrangement within the corporation to modernize management processes and capacities. The MIPimplementation would potentially reduce commercial and technical losses from 33 to 23 percent and raise collection rates from 85 to 95 percent ( Figure 14 ), enabling EMAE to achieve cost recovery in the medium-term.
Envisaged Improvement in Operational Indicators
Source : Management Improvement Plan (MIP).
26. However, the complexity of this overarching reform agenda, which involves multiple pillars and weak
include: (i) tasking the staff-level interdepartmental SDS working group (SDS-WG) with a mandate to oversee SDS work at the Fund, update the SGN refresh and oversee this evaluation’s MIPimplementation; (ii) requiring the SDS-WG to continue reporting regularly to management and the Board working group,, as well as external partners, on SDS; (iii) tasking the SDS-WG to monitor the implementation of an SDS-focused research workstream on cross-cutting issues and continue to oversee knowledge-sharing; (iv) committing the SDS-WG to conduct a staff review of IMF engagement