The Fund's Transparency Policy - Review of Experience and Next Steps PDF Download

Author: International Monetary Fund. Policy Development and Review Dept.
Publisher: International Monetary Fund
ISBN: 1498328547
Category : Business & Economics
Languages : en
Pages : 40

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Book Description
This paper reviews the experience with transparency of the Fund’s activities and its members’ policies. Transparency of the Fund as an institution has now become much more systematic. Fund missions consult more regularly with a broad group of interested parties. The Independent Evaluation Office has been established to provide objective and independent evaluation of issues related to the Fund. The Fund’s transparency has also been increased through external consultations on, and independent evaluations of, its own policies and more systematic publication of policy papers. Finally, the Fund has enhanced the provision of information to the public through its website, and a substantial percentage of documents covering a wide range of topics is now published. Overall, activities of the Fund are now subject to much greater public scrutiny.

Author: International Monetary Fund. Policy Development and Review Dept.
Publisher: International Monetary Fund
ISBN: 1498329004
Category : Business & Economics
Languages : en
Pages : 40

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Book Description
This paper presents for consideration by Directors the issue of a move to a policy of presumed publication of staff reports, and lays out possible options for modalities of implementing the policy of presumed publication. The paper also addresses several issues deferred to this review including: (i) presumed publication of UFR staff reports in exceptional access cases; (ii) deletions of highly politically-sensitive information; (iii) presumed publication of Financial System Stability Assessment (FSSA) reports and a policy for publication of Technical Notes prepared in the context of the Financial Sector Assessment Program (FSAP); and (iv) presumed publication of Reports on the Observance of Standards and Codes (ROSCs). The paper also addresses the issue of a modification policy for staff policy papers prior to publication, and the possibility of withholding publication of a staff report when deletions of highly market sensitive material would significantly alter its key messages.

Author: Mr.J. D. Craig
Publisher: International Monetary Fund
ISBN: 155775697X
Category : Business & Economics
Languages : en
Pages : 50

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Book Description
Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its April and September 1996 meetings, stressed the need for greater fiscal transparency. Prompted by these concerns, this paper represents a first attempt to address many of the aspects of transparency in government operations. It provides an overview of major issues in fiscal transparency and examines the IMF's role in promoting transparency in government operations.

Author: International Monetary Fund. Policy Development and Review Dept.
Publisher: International Monetary Fund
ISBN: 1498331513
Category : Business & Economics
Languages : en
Pages : 57

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Book Description
This review analyzes trends in publication of IMF documents and experience with various aspects of the transparency policy since July 2003, based on: Fund-wide data on publication; records of changes made to published staff reports; a survey of mission chiefs; and ten country case studies involving interviews with staff and Executive Directors.

Author: Suzanne J. Piotrowski
Publisher: Lexington Books
ISBN: 1461634563
Category : Political Science
Languages : en
Pages : 223

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Book Description
Gaining access to government information is a perpetual concern of citizens. This is due in large part to the relationship between transparency and the issues of ethics, corruption, administrative malfeasance, and accountability. The last few years have proven that governmental transparency is a burgeoning academic subfield spurred on by contemporary political events and attention generated by the popular press. This reader addresses the topics of governmental transparency and secrecy and includes original discussion, classic readings, and primary source documents. Transparency and Secrecy is organized according to a theoretical model fully developed in the introduction. Governmental transparency is the degree to which access to government information is available through various channels. These avenues of access to information include governments proactively releasing information, freedom-of-information type requests, open meetings, and whistleblowing and leaks. The reader addresses each of these components as well as values that compete with openness such as privacy, security, and efficiency. The chapter discussion sections begin with the presentation of cases to make the material relevant to students. The cases together with the review of the literature help readers understand how each aspect of transparency is relevant to contemporary public policy debates. The discussion sections include a brief summary of the included articles and place these readings within the scholarship at large. Integrative study questions, suggested class projects, recommendations for case studies, movies, and supplemental reading all make Transparency and Secrecy ideal for classroom adoption.

Author: International Monetary Fund. External Relations Dept.
Publisher: International Monetary Fund
ISBN: 1498329810
Category : Business & Economics
Languages : en
Pages : 101

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Book Description
This paper reviews implementation of the Fund’s external communications strategy and suggests issues that the Board may wish to discuss at its third meeting since 1998 on the subject. The strategy has been shaped by the previous Board discussions and more recent decisions and discussions on transparency, conditionality, PRSP/PRGF, the Independent Evaluation Office, and other issues. This paper represents more of a stocktaking than a fundamental reconsideration of the Fund’s approach to external communications. It examines the progress made in recent years and steps that might be taken with current resources to increase the effectiveness of the strategy.

Author: Barry Carin
Publisher: IDRC
ISBN: 1552501752
Category : Business & Economics
Languages : en
Pages : 137

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Book Description
Brings together leading experts from all over the world to further the debate on the various dimesions of accountability of IMF to its various sharholders and stakeholders. Having fully explored how the notion of accountability can be pragmatically applied it then tests various alternative appriaches and makes some recommendations.

Author: Alasdair Roberts
Publisher: Cambridge University Press
ISBN: 9781139448925
Category : Law
Languages : en
Pages : 348

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Book Description
Nearly forty years ago the US Congress passed the landmark Freedom of Information Act (FOIA) giving the public the right to government documents. This 'right to know' has been used over the past decades to challenge overreaching Presidents and secretive government agencies. The example of transparency in government has served as an example to nations around the world spawning similar statutes in fifty-nine countries. This 2006 book examines the evolution of the move toward openness in government. It looks at how technology has aided the disclosure and dissemination of information. The author tackles the question of whether the drive for transparency has stemmed the desire for government secrecy and discusses how many governments ignore or frustrate the legal requirements for the release of key documents. Blacked Out is an important contribution during a time where profound changes in the structure of government are changing access to government documents.

Author: Yongseok Shin
Publisher: International Monetary Fund
ISBN: 1451855400
Category : Computers
Languages : en
Pages : 48

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Book Description
This paper finds that reforms introduced by the IMF to promote transparency have created more informed markets and reduced borrowing costs for those emerging market countries that volunteered for them. Using a quarterly panel estimation with fixed country effects, we find that sovereign spreads fall following the adoption of three different transparency reforms. The effects are economically important, especially for those countries with low initial transparency. We use two-stage least squares to address any endogeneity in the timing of reforms exploiting internal IMF timetables that are unrelated to country events. Next, using a panel GARCH specification, we show that spreads move more than normal in the days immediately following publication of IMF country documents.

Author: World Bank
Publisher: World Bank Publications
ISBN: 9780821364321
Category : Business & Economics
Languages : en
Pages : 494

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Book Description
In the wake of the financial crises of the late 1990s, there was a surge of interest in the systematic assessment of financial sectors, with a view to identifying vulnerabilities and evaluating the sector's developmental needs. Consequently, there has been an increased demand from financial sector authorities in many countries for information on key issues and sound practices in the assessment of financial systems and the appropriate design of policy responses. In response, Financial Sector Assessmsnet presents a general analytical framework and broad guidance on approaches, methodologies and key techniques for assessing the stability and development needs of financial systems. It synthesizes current global sound practices in financial sector assessment.