Press Release No. 22103

Update on the IMF's Institutional Safeguards Review

April 1, 2022

Washington: Considerable progress has been made on the previously announced review of the International Monetary Fund’s institutional safeguards . The Staff Working Groups (SWGs), have continued to advance with their work around the Fund’s internal governance and staff voice; and data and analysis integrity . The External and Independent Panel of High Level Experts , led by Jens Weidmann, has also moved forward with its assessment of the Fund’s Dispute Resolution System and recommendations to strengthen institutional safeguards.

In keeping with the integrated approach agreed for this review, a Steering Group of the IMF’s Executive Board has also been actively following and providing input into this work, including by holding regular discussions with the SWGs. Most recently, the Steering Group also met with the External Panel which provided an update on its progress to date.

In terms of next steps, the External Panel is working on its final evaluation. To ensure as careful and thorough process as possible, the timeline for the review has been somewhat extended, with the entire suite of reports expected to be finalized towards end-April, and the Executive Board slated to meet to consider the review towards end-May 2022.