IMF国际货币组织全球-List-of-IMF-Member-Countries-with-Delays-in-Completion-of-Article-IV-Consultations-or-Mandatory-Financial-Stability-Assessments-over-18-Months_4页_313kb

IMF Member Countries with Delays in Article IV Consultations or Financial Stability Assessments (December 2019)

Core Content

The document provides a list of IMF member countries that experienced delays in the completion of Article IV consultations or mandatory financial stability assessments exceeding 18 months as of December 15, 2019. The report is prepared by the IMF staff and released for informational purposes to the Executive Board, with the understanding that the views expressed are those of the staff and not necessarily the Board.

The report also outlines the IMF's transparency policy, which allows for the removal of market-sensitive information and the withholding of premature disclosure of policy intentions in published documents. Electronic copies of the policy papers are publicly available on the IMF's website.

Key Information

• List Publication Date: The latest version of the list was published on or after December 20, 2019.
• List Validity: The status and classification of countries in the list are as of December 15, 2019.
• Delay Calculation: Delays are measured from the stipulated date for the next consultation, including any applicable grace period (typically three months) for members without a Fund arrangement, PCI, or PSI.
• No Mandatory Financial Stability Assessment Delays: As of December 15, 2019, no member had its mandatory financial stability assessment delayed by more than 18 months.

List of Delayed Countries

Notes on Specific Countries

• Venezuela: The IMF does not currently recognize a government in Venezuela. There is no clarity that a majority of IMF members recognize and deal with any authorities claiming to be the government.
• Burundi: The 2019 Article IV mission took place from November 11 to 22, with a Board meeting tentatively scheduled for January 24, 2020.
• Haiti: The 2019 Article IV mission took place from November 11 to 22, with a Board meeting tentatively scheduled for January 24, 2020.
• Republic of Congo: The 2019 Article IV mission took place from October 24 to November 6, with a Board meeting tentatively scheduled for January 17, 2020.
• Equatorial Guinea: A Board meeting for a Request of an Extended Arrangement Under the EFF and Second Review Under the Staff-Monitored Program is scheduled for December 18, 2019.
• Gabon: The Board meeting for the 2019 Article IV consultation, together with the 4th and 5th reviews under the EFF arrangement, is scheduled for December 16, 2019.

Reasons for Delays

The IMF categorizes reasons for delays in Article IV consultations as follows:

• Program-related issues: Delays to combine consultations with requests for Fund resources (UFR), Policy Support Instrument (PSI), Policy Coordination Instrument (PCI), or to conduct program reviews.
• Political/security situation: Delays due to unsettled political and/or security conditions.
• Government change: Delays due to upcoming or recent elections, changes in government, or internal government changes.
• Staffing constraints: Delays caused by staffing limitations within the IMF.
• Authorities' request: Delays at the request of the authorities, such as due to their inability to host the mission because of their work schedule.
• No agreement on mission dates/modalities: Delays due to lack of agreement on the mission's modalities or the authorities not communicating dates for the consultation.
• Miscellaneous: Other reasons not covered in the above categories.

Summary of Changes from June 2019

• Gabon has been added to the list.
• Eritrea and the Democratic Republic of the Congo have been removed.
• The reason for delay in Venezuela has been updated from "No agreement on mission dates/modalities" to "Political/security situation."

This list serves as a monitoring tool to identify and address excessive delays in the IMF's consultative processes with member countries.