The International Monetary Fund (‘the IMF’) is a global organization that works to achieve sustainable growth and prosperity for its 190 member countries. It does so by supporting economic policies that promote financial stability and monetary cooperation, which are essential to increase productivity, job creation, and economic well-being. The IMF is governed by and accountable to its member countries.
1. Purpose and Scope:
The purpose of this Supplier Code of Conduct (Code) is to ensure that the IMF’s suppliers adhere to high standards of safe working conditions, fair and respectful treatment of employees, and ethical and sustainable environmental practices.
"Supplier" in this Code means any person or entity with whom the IMF does business. Unless otherwise expressly stated in this Code, the provisions of this Code shall apply to the supplier’s business generally and not only to its specific engagement with the IMF. It is the responsibility of the supplier to communicate the terms of this Code to, and cause compliance by, all the supplier’s officers, directors, employees, agents, subcontractors, and affiliates, and breaches of this Code by such parties will be considered as breaches by the supplier.
2. Continuous Improvement:
The provisions as set forth in this Code provide the minimum standards required of suppliers. The IMF expects suppliers to continually review and improve all tenets of their workplace environments and working conditions outlined in this Code. This Code is subject to modification by the IMF as it deems necessary, and the latest version can be accessed via the IMF's website on this page.
3. Management, Monitoring and Evaluation:
The IMF expects that its suppliers, at a minimum, have established clear goals toward meeting the standards set forth in this Code. The IMF requires its suppliers to establish and maintain appropriate management systems related to the content of this Code, and that they actively review, monitor, and modify their management processes and business operations to align with the provisions set forth in this Code.
Labor:
4. Forced or Compulsory Labor:
The IMF expects its suppliers to prohibit forced or compulsory labor in all its forms.
5. Child Labor:
The IMF requires its suppliers to comply with all applicable national law governing child labor including the minimum age for employment and working conditions. The suppliers are required at a minimum to ensure that the work is safe and does not jeopardize the health, well-being, or educational opportunities of children.
6. Discrimination:
The IMF requires its suppliers to ensure equality of opportunity and treatment in respect of employment and occupation without discrimination on grounds of race, color, sex, religion, sexual orientation, disability, political opinion, national extraction or social origin and such other ground as may be recognized and applicable under the requirements of national law. The suppliers shall not engage in any discriminatory employment practices, including those relating to recruitment, promotion, training, remuneration and benefits.
7. Wages, Working Hours and Other Conditions of Work:
The IMF expects its suppliers to ensure that wages and working conditions are fair in compliance with applicable law, regulations, or collective agreement.
8. Health and Safety:
The IMF expects its suppliers to ensure, so far as is reasonably practicable and in accordance with applicable requirements of national law, that: (a) the workplaces, machinery, equipment and processes under their control are safe and without risk to health; (b) the chemical, physical and biological substances and agents under their control are without risk to health and that appropriate measures of protection are taken; and (c) where necessary, adequate protective clothing and protective equipment are provided to prevent risk of accidents or of adverse effects to health.
9. Industry Certification:
The IMF expects its suppliers to maintain their professional certifications and to be in continuous compliance with all industry regulations.
Human Rights:
10. Human Rights Abuses:
The IMF expects its suppliers to support and respect the protection of internationally proclaimed human rights and to ensure that they are not complicit in human rights abuses.
11. Harassment, Harsh or Inhumane Treatment:
The IMF requires its suppliers to create and maintain an environment that treats all employees with dignity and respect. Suppliers shall not engage in any actual or threatened violence, harassment, abuse of power, and/or sexual exploitation and abuse. The IMF considers harassment as behavior, verbal or physical, that unreasonably interferes with work or creates an intimidating, hostile or offensive work environment. Sexual harassment is any behavior of a sexual nature that is unwelcome, offensive, or that creates a hostile or intimidating work environment.
Environment:
12. Environmental Regulations:
The IMF expects its suppliers to comply with all applicable laws and regulations regarding the protection of the environment. Suppliers should wherever possible support a precautionary approach to environmental matters, undertake initiatives to promote greater environmental responsibility, encourage the diffusion of environmentally friendly technologies, and implementing sound life-cycle practices.
13. Chemical and Hazardous Materials:
The IMF expects its suppliers to identify and manage chemical and other materials posing a hazard if released to the environment to ensure their safe handling, movement, storage, recycling or reuse and disposal.
14. Wastewater and Solid Waste:
The IMF expects its suppliers to monitor, control and treat wastewater and solid waste generated from operations, industrial processes, and sanitation facilities as required prior to discharge or disposal.
15. Air Emissions:
The IMF expects its suppliers to characterize, monitor, control and treat air emissions of volatile organic chemicals, aerosols, corrosives, particulates, ozone depleting chemicals and combustion by-products generated from operations as required prior to discharge or disposal.
16. Minimize Waste, Maximize Recycling:
The IMF expects its suppliers to reduce or eliminate waste of all types, including for water and energy, at the source or by practices such as modifying production, maintenance and facility processes, materials substitution, conservation, recycling and re-using materials.
Ethical conduct:
17. Prohibited Activities:
The IMF does not tolerate any form of fraud, theft, corruption, collusion, coercion, obstruction, or conflicts of interest (“Prohibited Activities”) as defined in the IMF’s Anti-Fraud and Anti-Corruption Policy.[1] Suppliers must interact honestly and with integrity in performing their obligations to the IMF or any other party, and to abide by the highest ethical, legal, and moral standards and in a manner that is consistent with legal norms and requirements on Prohibited Activities.
Suppliers must not engage or attempt to engage in Prohibited Activities. Engaging, or attempting to engage in Prohibited Activities, whether involving the IMF or not, may be grounds for termination of the supplier’s relationship with the IMF and disqualification from further engagements with the IMF.
The IMF reserves the right to take action to recover any financial loss incurred as a direct result of Prohibited Activities proven to have been carried out by the supplier. The IMF expects its suppliers to put in place appropriate procedures for the identification, reporting, investigation, and mitigation of Prohibited Activities, and perform periodic assessments to identify any Prohibited Activities to which their programs/activities might be exposed.
18. Reporting of Prohibited Activities and other misconduct:
Suppliers are required to immediately report allegations of Prohibited Activities as well as other alleged misconduct involving IMF officials or personnel, activities, or projects to the Office of Internal Investigation (OII).
Any person may report suspected Prohibited Activities to OII on an anonymous basis through the IMF’s confidential “Integrity Hotline” at https://www.imf.org/integrityhotline or by a toll-free number, 1-800-548-5384, available within North America on a 24/7 basis.
Notwithstanding the obligation to report Prohibited Activities through the above channels, the IMF expects its suppliers to have an independent, confidential mechanism in place for workers, suppliers, shareholders, or other stakeholders to raise concerns about potential breaches of the company’s code of ethics or local laws without fear of retribution.
Suppliers must fully cooperate with any audit or investigation required by the IMF, including making information and records available for inspection by the IMF’s auditors or investigators.
19. Conflict of Interest:
Suppliers are required to disclose to the IMF any situation in their dealings with the IMF that may give rise to an actual or potential conflict of interest. This includes any IMF official or personnel that may have an interest of any kind in the supplier's business whether economic or relational ties by consanguinity or affinity. Suppliers must promptly report any potential or actual conflict of interest to the IMF Chief Procurement Officer by e-mail to IMF-CPO@IMF.org.
20. Gifts, Hospitality and Political Lobbying:
IMF employees are not permitted to accept any type of gift or any offer of hospitality from a current or potential supplier. IMF employees will not accept any invitations to sporting or cultural events, offers of holidays or other recreational trips, transportation, or invitations to lunches or dinners. Suppliers must not offer any benefit, such as free samples, goods or services, employment, or sales opportunity to any IMF employees.
The IMF also expects its suppliers to have a policy on political engagement, covering lobbying and donations to political causes or candidates, to the extent permitted by law.
21. Compliance requirement
Suppliers are required to accept and maintain compliance to this Code as a condition of doing business with the IMF. Failure to comply with these provisions or failure to inform the IMF of a breach may lead to investigation by OII, exclusion from solicitation processes and/or termination of relationship with the IMF, as applicable. The IMF reserves the right to take any measures it deems necessary to safeguard its reputation, depending on the severity and impact of the breach.
Questions related to this Code of Conduct
may be addressed to the
IMF Chief Procurement Officer at:
IMF-CPO@IMF.org