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International Monetary Fund. Independent Evaluation Office

. The Fund should adopt a proactive approach to identify existing and emerging data issues most relevant from a global stability perspective. Then in close consultation between economists, statisticians, and member country authorities, the Fund’s data requirements should be prioritized carefully, weighing the benefits and costs—for the Fund and for member countries—of any additional data requests. The minimum data necessary for surveillance should also be kept under more frequent Board review, while the Fund’s confidentiality protocols could be clarified to the

International Monetary Fund

), review the requirement to discuss the SIA in the main body of the Article IV staff report, and clarify the Fund’s confidentiality protocols to reassure member countries in the voluntary provision of data. Align data provision by member countries—to the extent feasible—with the broader initiative to promote publication of data required for surveillance by the Fund : Area departments will continue to be member countries’ key interlocutors on data provision to the Fund. In consultation with SPR, STA will continue to support these activities and overall data transparency

International Monetary Fund

reports with the World Bank is governed by special regimes, including those stemming from the Fund-Bank Concordat 2 and the FSAP Confidentiality Protocol. 3 Similarly, in 1993, under the Transmittal Policy, the Board approved separate procedures for the distribution of TA reports to international organizations meeting certain criteria. 4 The proliferation of specific rules for various situations, which are addressed in greater detail below, has given rise to a patchwork of overlapping policies and practices. In some cases, the resultant uncertainties have been

International Monetary Fund
This paper sets out a framework for streamlined and strengthened procedures for the wider dissemination of technical assistance-related information ("TA Information"). On the basis of this framework, management intends to issue guidelines to the staff setting forth these new procedures.
International Monetary Fund
This paper sets out Management’s response to the Independent Evaluation Office’s (IEO) report entitled Behind the Scenes with Data at the IMF: An IEO Evaluation. The implementation plan proposes specific actions to address the recommendations of the IEO that were endorsed by the Board in its March 17, 2016 discussion of the IEO’s report, namely: (i) develop a long-term strategy for data and statistics at the Fund; (ii) define and prioritize the Fund’s data needs and support data provision by member countries accordingly; (iii) reconsider the role and mandate of the Statistics Department; (iv) reexamine the staff’s structure of incentives in the area of data management; (v) make clear the limits of IMF responsibility regarding the quality of disseminated data, and clarify the distinction between “IMF data” and “official data.” The implementation of some of these proposed actions is already underway. The paper also explains how implementation will be monitored.
International Monetary Fund

-border exposures of some LCFIs, but it is constrained by confidentiality protocols to share this information beyond group members. Supervisory colleges are similarly constrained. IMF and reserves . It should be noted that the Fund itself compiles information on members’ reserves by currency (COFER), instrument (INFER), and securities (SEFER) that due to confidentiality commitments it cannot share, even internally, in a more granular form than published without recourse to its membership. Moreover, coverage is limited, as certain economies with large reserve holdings are

International Monetary Fund. Legal Dept. and IMF Institute

/or on the Fund’s external websites, pending approval by the authoring TA department. Publication subject to special policy on deletions and corrections prior to publication. 1 Dissemination of Technical Assistance Information; IMF; April 3, 2008. 2 Enhancing the Impact of IMF Technical Assistance; IMF; May 20, 2008. 3 See Confidentiality Protocol—Protection of Sensitive Information in the Financial Sector Assessment Program 4 See Guidance Note on the IMF’s Transparency Policy; IMF; March 12, 2010, as amended , pages

International Monetary Fund. Independent Evaluation Office

voluntarily provide these data to the FSAP team—subject to strict confidentiality protocols—the FSAP review noted that this practice is not universal (as confirmed by this evaluation’s survey results), with advanced countries the least likely to share supervisory data. And even when the needed data are available, FSAP teams are typically not equipped to assess their accuracy or the quality of underlying assets. … underscoring the importance of building trust, yet being candid about data limitations. 37. Considering the reasons why country authorities are loath to

International Monetary Fund
TA information should be disseminated more widely. The more active sharing of TA information with donors and other TA providers will improve coordination, exploit synergies, and enable the Fund to prioritize and leverage its limited TA resources, thereby fulfilling key objectives under the Paris Declaration on Aid Effectiveness. Moreover, especially from the perspective of their own accountability to their governments and legislators, donors to the Fund’s TA program have a legitimate interest in receiving information on TA that is financed by them. For TA recipient countries, the wider dissemination of TA information among different government agencies will strengthen ownership and facilitate the more effective implementation of TA recommendations. More generally, through publication, the membership and the public at large will benefit from a better understanding of best practices, and the Fund’s experiences in the provision of TA.