2006年-IMF国际货币组织全球_Standards_and_Codes_16页_367kb

Summary of the IMF's Standards and Codes Initiative Implementation

I. Introduction

This document outlines the operational changes being made by the International Monetary Fund (IMF) to implement the Medium-Term Strategy (MTS) and the recommendations from the 2005 Review of the Standards and Codes Initiative. The changes aim to improve the efficiency of the Fund's work on Standards and Codes, enhance integration with Fund surveillance and technical assistance (TA), and increase the clarity and timeliness of Reports on the Observance of Standards and Codes (ROSCs). The actions are summarized in Table 1 and are based on recommendations from the MTS working group and the TAMS subgroup. The next review of the Standards and Codes Initiative is planned for 2010.

II. Country Coverage and Prioritization

Core Principles

• Prioritization criteria are being introduced to better align with macro-criticality considerations.
  • Priority is given to:
    • Systemic and regionally important countries, regardless of development level.
    • Other emerging-market countries.
    • Program countries with weaknesses in areas covered by ROSCs.
    • Resource-rich countries for fiscal transparency ROSCs.
• These principles are intended to guide the allocation of resources but do not preclude case-by-case prioritization if justified.

Unconstrained Priorities

• Unconstrained priorities will be reflected in staff appraisals of Article IV reports, independent of the authorities' willingness to request a ROSC.
• This ensures that the importance of standards assessments is recognized even if countries are not proactive in requesting them.

Focus and Selectivity of ROSC Updates

• Departments will have more flexibility in the frequency of ROSC updates.
• The average interval between updates is expected to be 5–6 years, but countries with significant vulnerabilities will be reassessed more frequently.
• Updates will be prioritized based on:
  • The above-mentioned prioritization criteria.
  • The significance of gaps identified in previous assessments.
• Annual factual updates by area departments are no longer required.
• Article IV missions, with functional department specialists, may conduct diagnostics for key issues identified in prior ROSCs, resulting in "factual updates."
• The Fund Board has provided specific guidance for AML/CFT assessments and updates.

Country Ownership

• For countries reluctant to request a ROSC, staff will work to understand and address the reasons for reluctance.
• If authorities are willing to address weaknesses, an informal diagnostic combined with TA may be proposed to encourage future participation.
• Outreach efforts will be intensified to explain the benefits of ROSCs.

III. Integration with Fund Work

Post-ROSC Wrap-Up Meetings

• These meetings are held for fiscal, data, and stand-alone financial ROSCs after the mission's return.
• The purpose is to agree on follow-up actions in the context of surveillance, TA, and Fund resource use.
• A short note will be prepared by the area department to record the discussion.
• These meetings help identify macro-relevant issues for subsequent Article IV consultations and inform TA planning.

Coordination with Capacity Building

• A Committee on Capacity Building (CCB) is being established to replace the TAMS, TAC, and task force for implementing the IEO's TA recommendations.
• This committee will enhance coordination between ROSC and TA programs.
• Improved communication between ROSC and TA coordinators is encouraged, and where feasible, these roles will be combined.
• Discussions on ROSC needs and findings will be included in TA Country Strategy Notes (TACSNs).

Cross-Country and Inter-Temporal Comparisons

• A system of linked departmental databases of ROSC findings is being developed to support progress tracking, prioritization, and cross-country analysis.
• The system will include firewalls for confidential financial sector data.
• It will also be useful for TA planning in the future.

IV. Enhancing Clarity and Timeliness of ROSCs

Summary Findings and Recommendations

• All new ROSCs will include:
  • An executive summary in plain language.
  • A prioritized list of key recommendations.
  • A principle-by-principle summary matrix of observance.
• The matrix uses a four-point scale to indicate the degree of observance:
  • O: Practice Observed.
  • LO: Practice Largely Observed.
  • LNO: Practice Largely Not Observed.
  • NO: Practice Not Observed.
• Comments will be included where necessary to clarify findings and avoid misinterpretation.
• This structure will be applied to fiscal transparency and monetary and financial policy transparency (MFPT) ROSCs starting from those formally requested after June 30, 2006.

Indicative Timeline

• A six-month target is set for the time between the end of the last ROSC mission and the issuance of the final report to the Board.
• An interim target of three months is proposed for submitting a draft ROSC to the authorities.
• These timelines are indicative norms, not strict deadlines, and will be reviewed based on experience.
• The six-month timeline is close to the current seven-month median lag and aligns with functional departments' estimates of practical completion time.

Accessible Information on ROSCs

• A webpage has been established on the IMF intranet to disseminate information on completed and ongoing ROSCs.
• The page is accessible to Executive Directors and staff.
• It includes:
  • Issuance and publication dates for completed ROSCs.
  • Status of ongoing ROSCs (missions completed but reports not yet issued).
• The information is updated monthly.

Appendix Summary

• Appendix I provides principle-by-principle matrices for the degree of observance in the Data Transparency Standards.
• Appendix II includes a table showing the lag in completing ROSCs, which serves as a reference for timelines.