Policy Papers
2006
April 20, 2006
Provisional Agenda for the Thirteenth Meeting of the International Monetary and Financial Committee
April 18, 2006
Anti-Money Laundering and Combating the Financing of Terrorism - Review of the Quality and Consistency of Assessment Reports and the Effectiveness of Coordination
Description: This paper responds to a request from Executive Directors to review the quality and consistency of anti-money laundering and combating the financing of terrorism (AML/CFT) assessment reports prepared by the Financial Action Task Force on Money Laundering (FATF) and FATF style regional bodies (FSRBs), and the effectiveness of coordination with FATF/FSRBs. The review found a high degree of variability in the quality and consistency of reports prepared by the different assessor bodies as well as within the same assessor group. While a large majority of reports were of high- or medium quality with respect to key components of the assessments, the treatment of ratings gave rise to greater problems. A number of initiatives have been taken or are underway to improve the quality and consistency of assessments by all assessor bodies, including: the standardization of documentation, the strengthening of peer/internal reviews, and the intensification of assessor training.
April 18, 2006
Progress Report to the International Monetary and Financial Committee on Fund Initiatives to Promote Avian Flu Preparedness
Description: There is widespread concern about the possibility of an avian flu pandemic and its implications for humans, and for the global economic and financial system. While the H5N1 virus cannot transmit efficiently from human to human in its present form, a mutation allowing such transmission could lead to a pandemic that might have high costs. Accordingly, the Fund has been active in raising awareness about the potential economic and financial risks of a pandemic, and in helping member countries to undertake contingency planning in their financial sectors.
April 14, 2006
Establishment of the Investment Account
Description: This paper summarizes the relevant considerations and presents decisions for the establishment of an Investment Account (IA). Executive Directors considered an analysis of the establishment and operations of an IA in September 2005. During the discussion in March 2006 of the medium-term outlook for the Fund’s income, Directors requested staff to return to the Board with a paper proposing decisions on the establishment of an IA.
April 12, 2006
Review of the Fund's Income Position for FY2006 and FY2007
Description: This paper provides the basis of the Executive Board's annual review of the Fund's income position, the burden-sharing mechanism, and the system of special charges, and makes proposals for the rate of charge in FY07.
April 11, 2006
Heavily Indebted Poor Countries Initiative - List of Ring-Fenced Countries that Meet the Income and Indebtedness Criteria at end-2004
Description: This paper identifies the countries that meet the enhanced Heavily Indebted Poor Countries (HIPC) Initiative’s income and indebtedness eligibility criteria based on end-2004 data. It also updates the status of these countries toward qualifying for debt relief and presents cost estimates of debt relief.
April 5, 2006
Report on the Incidence of Longer-Term Program Engagement
Description: The assessments are intended to provide an analysis of the economic problems facing the member and a critical and frank review of progress during the period of Fund-supported programs, as the basis for a forward-looking assessment and strategy for future Fund engagement, including, where appropriate, an explicit exit strategy.
April 5, 2006
The Managing Director's Report on Implementing the Fund's Medium-Term Strategy
Description: In September, 2005, the Fund published its Medium-Term Strategy, which considered the future direction of the Fund in light of the economic transformation wrought by 21st century globalization. The strategy concluded that the emergence of new economic powers, integrated financial markets, unprecedented capital flows, and new ideas to promote economic development required an updated interpretation of the Fund’s mandate as the steward of international financial cooperation and stability. Without new focus and carefully chosen priorities, the institution risked being pulled in too many directions and losing its relevance to large parts of the membership.
March 29, 2006
Report of the External Evaluation of the Independent Evaluation Office
Description: The IEO of the IMF was created in 2000 to enhance the learning culture of the IMF, to build the IMF’s external credibility by undertaking objective evaluations in a transparent manner, to provide independent feedback to the Executive Board in its governance and oversight responsibilities, and to promote greater understanding of the work of the IMF among its members and the broader public. In the period October 2005-February 2006, the Evaluation Panel assessed how well the IEO meets these objectives, asking at the outset whether the IMF needs an IEO and whether the existing office is adequately independent. The Panel concludes that the IEO has served the IMF well but identifies certain weaknesses and makes recommendations to the IEO and the IMF to address them.