Amendment to Steps to Address Excessive Delays in the Completion of Article IV Consultations or Mandatory Financial Stability Assessments and Application to the Case of Argentina
February 11, 2016
Preview Citation
Format: Chicago
Summary
< br />Under current policy, the briefing documents are not published. Instead, a short factual statement is issued in a press release, noting that the Board was given an informal staff briefing on the member’s economy based on available information. Under the policy, the Fund decided against publication of the briefing documents since it was considered that publication could expose the Fund to a significant reputational risk if the analysis set out in the documents missed key vulnerabilities due to large information gaps created by the lack of consultation with the member. Also, outside audiences may not appreciate that the documents represent the views of staff, not the views of the Board, and do not constitute an Article IV consultation. A further concern was that publication could reduce the pressure on members to proceed with an Article IV consultation. In light of the current policy, any publication of these documents would require a change in policy approved by the Executive Board. Read More
Subject: Argentina, Article IV consultations, Executive Board decisions, Executive Board discussion postponement, Lapse of time approval, Notification of delay
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Policy Papers
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