Chapter 4: Ongoing Evaluations

International Monetary Fund. Independent Evaluation Office
Published Date:
August 2012
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At the end of FY2012 the IEO was working on three evaluations that it expects to complete during FY2013:

  • The evaluation of “International Reserves: IMF Concerns and Country Perspectives” examines the conceptual basis of concerns at the IMF about the effects of reserve accumulation on the stability of the international monetary system, and assesses the nature and quality of the IMF’s advice on reserve adequacy in the context of bilateral surveillance.
  • The evaluation of “The Role of the IMF as Trusted Advisor” examines authorities’ confidence in the quality and relevance of IMF advice, together with other factors that might influence the persuasiveness of advice and the desire to engage the Fund in a policy dialogue. It looks at the period from 2005 through the present—including the aftermath of the global financial and economic crisis. The evaluation considers, in particular, whether the IMF’s role as a trusted advisor has changed relative to the past.
  • “An Assessment of Self-Evaluation Systems.” This evaluation will examine whether there are processes in place for IMF Management and staff to draw lessons from experience by determining what works and how; and whether and how lessons are shared within and across units. This evaluation is the first assessment of self-evaluation systems undertaken within the IMF, and it will focus mainly on taking stock of such activities, leaving an assessment of quality and impact for future evaluations.

Finally, the IEO is producing a volume describing the IMF’s experience with independent evaluation over the past 10 years. In addition to the proceedings of the December 6, 2011 conference, the volume will include several self-evaluative papers discussing the IEO’s history, the nature and utilization of IEO reports, and the implementation of Board-endorsed IEO recommendations. The analysis prepared for this volume is part of the IEO’s own learning process and is aimed at enhancing IEO’s contributions to the IMF and its membership.

Table 1 shows the status of IEO evaluations completed or in progress.

Table 1.Completed and Ongoing IEO Work Program
Prolonged Use of IMF ResourcesCompleted (August 2002)
The IMF and Recent Capital Account CrisesCompleted (May 2003)
Fiscal Adjustment in IMF-Supported ProgramsCompleted (July 2003)
The IMF and Argentina, 1991-2001Completed (July 2004)
The IMF’s Role in PRSPs and the PRGFCompleted (June 2004)
IMF Technical AssistanceCompleted (January 2005)
The IMF’s Approach to Capital Account LiberalizationCompleted (April 2005)
IMF Support to Jordan, 1989-2004Completed (October 2005)
Financial Sector Assessment ProgramCompleted (November 2005)
Multilateral SurveillanceCompleted (March 2006)
Structural Conditionality in IMF-Supported ProgramsCompleted (October 2007)
The IMF and Aid to Sub-Saharan AfricaCompleted (January 2007)
IMF Exchange Rate Policy AdviceCompleted (March 2007)
Governance of the IMFCompleted (April 2008)
IMF Involvement in International Trade Policy IssuesCompleted (May 2009)
IMF Interactions with Member CountriesCompleted (November 2009)
IMF Performance in the Run-Up to the Current Financial and Economic Crisis: IMF Surveillance in 2004-07Completed (January 2011)
Research at the IMF: Relevance and UtilizationCompleted (May 2011)
International Reserves: IMF Concerns and Country PerspectivesIn progress
The Role of the IMF as Trusted AdvisorIn progress
An Assessment of Self-Evaluation SystemsIn progress

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