Concluding Remarks by the Acting Chairman— Strengthening the Application of the Guidelines on Misreporting, Executive Board Meeting 00/77, July 27, 2000¹

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Directors also reviewed the current policy on publication of cases of misreporting and decided to retain the current policy, which requires that after the Board makes its determination that misreporting occurred, the Fund proceed to make relevant information public in every case, with Board review of the text for publication. A number of Directors suggested that we think about introducing the concept of the material importance of an instance of misreporting as affecting the decision on whether to publish. The staff will reflect on this issue and consider whether, in the light of recent and further experience, workable proposals can be presented in the forthcoming paper for Board discussion in October.

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BUFF/00/129

August 4, 2000

¹ Ed. Note: In the context of PRGF operations, subparagraph 3(d) of the Annex to Decision No. 11436-(97/10) states that “[t]he Fund shall issue press releases on its decisions regarding the circumstances of the misreporting and the applicable remedies.”