Chapter

Chapter 4. Looking Ahead: Ongoing Evaluations and the IEO Work Program

Author(s):
International Monetary Fund. Independent Evaluation Office
Published Date:
August 2014
Share
  • ShareShare
Show Summary Details

The IEO is currently working on three evaluations, namely on self-evaluation in the IMF, the IMF’s response to the financial and economic crisis, and statistics. Also underway are two updates of past evaluations, on low-income country issues and capital account liberalization. The scope and status of each is summarized below.

Work in Progress

The IEO is nearing the final stages of work on “An Assessment of IMF Self-Evaluation Systems.” This evaluation examines the systems used by the Executive Board, IMF Management, and staff to learn from experience through self-evaluation of IMF lending programs and surveillance and capacity development activities. The IEO expects to submit the evaluation report to the Executive Board in FY2015.

The evaluation of “IMF Response to the Financial and Economic Crisis” will assess the IMF’s actions beginning in September 2008 to help contain the global crisis, cope with its impact on individual economies, navigate a global recovery, and identify and warn about future risks. The final Issues Paper with the terms of reference for this evaluation was posted on IEO’s website on March 12, 2014. The IEO expects to submit the evaluation report to the Executive Board in FY2015.

The evaluation of “Statistics for Global Economic and Financial Stability: The Role of the IMF” will examine whether the IMF’s activities regarding data and statistics—including data collection, management, dissemination, and policies—are adequate for fulfilling the IMF’s objectives in a rapidly evolving global economy. A Draft Issues Paper for this evaluation was posted on the IEO website for public comment on January 27, 2014.

The fourth study in the series revisiting past IEO evaluations will update two IEO evaluations on low-income country issues: the 2004 IEO Evaluation of the IMF’s Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility and the 2007 IEO evaluation of The IMF and Aid to Sub-Saharan Africa. The report will be circulated to the Executive Board in early FY2015.

In addition, the IEO has begun work on a revisit of the 2005 evaluation of The IMF’s Approach to Capital Account Liberalization. This report will provide an update on the key issues in the original IEO evaluation and examine whether the analysis, conclusions, and recommendations of the original evaluations are still relevant.

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

Table 1.Completed and Ongoing IEO Work Program
ProjectStatus*
Evaluations
Evaluation of Prolonged Use of IMF ResourcesCompleted (August 2002)
The IMF and Recent Capital Account CrisesCompleted (May 2003)
Fiscal Adjustment in IMF-Supported ProgramsCompleted (July 2003)
Evaluation of the IMF’s Role in PRSPs and the PRGFCompleted (June 2004)
The IMF and Argentina, 1999–2001Completed (July 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)
The IMF and Aid to Sub-Saharan AfricaCompleted (January 2007)
IMF Exchange Rate Policy AdviceCompleted (March 2007)
Structural Conditionality in IMF-Supported ProgramsCompleted (October 2007)
Governance of the IMF: An EvaluationCompleted (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 Financial and Economic Crisis: IMF Surveillance in 2004–07Completed (December 2010)
Research at the IMF: Relevance and UtilizationCompleted (May 2011)
International Reserves: IMF Concerns and Country PerspectivesCompleted (August 2012)
The Role of the IMF as Trusted AdvisorCompleted (December 2012)
IMF Forecasts: Process, Quality, and Country PerspectivesCompleted (January 2014)
Recurring Issues from a Decade of Evaluation: Lessons for the IMFCompleted (April 2014)
An Assessment of IMF Self-Evaluation SystemsIn progress
IMF Response to the Financial and Economic Crisis: An IEO AssessmentIn progress
Statistics for Global Economic and Financial Stability: The Role of the IMFIn progress
Evaluation Updates
Prolonged Use of IMF Resources: Revisiting the 2002 IEO EvaluationCompleted (July 2013)
Fiscal Adjustment in IMF-Supported Programs: Revisiting the 2003 IEO EvaluationCompleted (July 2013)
IMF Technical Assistance: Revisiting the 2005 IEO EvaluationCompleted (February 2014)
Revisiting the 2004 IEO Evaluation of the IMF’s Role in PRSPs and the PRGF and the 2007 IEO Evaluation of the IMF and Aid to Sub-Saharan AfricaIn progress
The IMF’s Approach to Capital Account Liberalization: Revisiting the 2005 IEO EvaluationIn progress

Date indicates when the evaluation report was transmitted to the IMF Executive Board.

Date indicates when the evaluation report was transmitted to the IMF Executive Board.

Future Work Program

The IEO expects to launch an evaluation on the IMF and the euro area crisis during FY2015. The IEO Director will also begin consultations with country authorities, IMF Executive Directors, Management, and staff, as well as outside stakeholders, on topics for future evaluations.

    Other Resources Citing This Publication