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International Monetary Fund. Secretary's Department

Abstract

The report, available in nine languages, highlights the IMF's work on COVID-19 recovery and the impact of Russia's invasion of Ukraine; inflation; how to achieve an equitable recovery; debt; and climate change, digital money and inclusion.

International Monetary Fund. Secretary's Department

frameworks and address IMF recommendations. The monitoring continues for as long as IMF credit remains outstanding. About 85 central banks are currently subject to monitoring, with an increase of 22 central banks in FY 2021 owing to the elevated activity resulting from the financing extended to member countries to address the impact of the COVID-19 pandemic. The IMF also conducts fiscal safeguards reviews of state treasuries when a member requests exceptional access to IMF resources for which a substantial portion of the funds—at least 25 percent—is directed toward

International Monetary Fund. Secretary's Department

legal structure and autonomy, (3) the financial reporting framework, (4) the internal audit mechanism, and (5) the system of internal controls. From 2000 to the end of April 2022, 366 assessments were conducted, covering 104 central banks; 20 of these assessments were completed in FY 2022. The IMF also monitors progress as central banks work to improve their safeguards frameworks and address IMF recommendations in safeguards assessments. The monitoring continues for as long as IMF credit remains outstanding, and about 82 central banks are currently subject to

International Monetary Fund. Secretary's Department

FY2019. The IMF monitors central bank progress as the banks work to improve their safeguards frameworks and address IMF recommendations. The monitoring continues for as long as IMF credit remains outstanding. About 62 central banks are currently subject to monitoring. In 2015, a new requirement for fiscal safeguards reviews of state treasuries was established. According to the amended safeguards policy, the reviews follow a risk-based approach and apply to arrangements in which a member requests exceptional access to IMF resources and for which a substantial

International Monetary Fund

, 305 assessments had been conducted, covering 96 central banks, nine assessments of which were completed in FY2018. The IMF monitors central bank progress as the banks work to improve their safeguards frameworks and address IMF recommendations. The monitoring continues for as long as IMF credit remains outstanding. About 60 central banks are currently subject to monitoring. In 2015, a new requirement for fiscal safeguards reviews of state treasuries was established. According to the amended safeguards policy, the reviews follow a risk-based approach and apply to