2009年-IMF国际货币组织全球_Implementation_Plan_in_Response_to_Board_6页_244kb

International Monetary Fund (IMF) Implementation Plan in Response to IEO Evaluation on Trade Policy

I. Introduction

• The document outlines an implementation plan for the Board-endorsed recommendations from the IEO Evaluation of the IMF's involvement in international trade policy issues.
• The plan aims to re-prioritize the Fund's trade policy work in line with the Evaluation and Executive Board conclusions.
• The recommendations are to be implemented within the existing resource envelope, emphasizing cooperation with the WTO and other institutions.
• The plan does not include detailed cost analysis, as many activities involve reallocating existing resources rather than new initiatives.
• The overlap between different proposals makes it challenging to isolate individual costs.

II. Implementation Plan

The plan is divided into six key areas:

A. Reviews of the Fund's Work on Trade and Guidance to Staff

• Core Content: The Fund will conduct five-yearly reviews of its work on trade, starting in 2014.
• Guidance Development: Staff will develop guidance notes on financial services and preferential trade agreements (PTAs) by July 2010 and present them to the Board.
• Main Points:
  • Reviews will align with global trade trends and policy assessments.
  • The guidance will clarify the distinction between Board-endorsed recommendations and best practices.
  • The 2014 review will incorporate the IEO findings.

B. Trade Policy in Fund-Supported Programs

• Core Content: Trade policy conditionality in Fund-supported programs will be scaled back.
• Main Points:
  • Trade-restricting measures should be avoided unless necessary for program objectives.
  • Trade liberalization should be actively promoted where needed.
  • The 1999 "Guidelines on Implementing Trade Policy Reforms" will be updated and issued by July 2010.
  • The updated guidance will be reviewed in the 2014 trade policy assessments.

C. Multilateral, Regional, and Bilateral Surveillance

• Core Content: Trade policy, especially involving PTAs, should be included in multilateral and regional surveillance.
• Main Points:
  • Surveillance should cover macro-critical trade policy issues for all countries.
  • Evenhandedness in trade policy advice is emphasized.
  • Trade policy topics will be addressed in standalone papers and through collaboration with departments responsible for WEO, REOs, and GFSRs.
  • These topics will be integrated into broader trade policy guidance notes.

D. Staffing-Related Issues

• Core Content: The Fund should build a critical mass of trade policy expertise.
• Main Points:
  • A separate trade policy division is not considered necessary at this time.
  • Trade policy work will continue to be handled by staff economists with dual expertise in trade and macroeconomic issues.
  • A balance of skills will be maintained through recruitment and on-the-job training.
  • This approach supports integration of trade policy into the Fund’s broader work.

E. Trade Policy Information

• Core Content: Fund staff require timely and relevant trade policy data, especially on tariffs, PTAs, and financial services.
• Main Points:
  • A guidance note on the availability and use of trade policy information from existing databases will be prepared by July 2010.
  • The Fund will explore enhanced information sharing with the WTO, World Bank, and other institutions.
  • Staff will actively engage in trade policy monitoring exercises with these organizations.

F. Institutional Cooperation

• Core Content: The IMF should strengthen cooperation with the WTO, World Bank, and other international organizations.
• Main Points:
  • Regular and formal meetings among senior staff of the IMF, World Bank, WTO, and possibly the OECD and UNCTAD will be initiated.
  • These meetings will focus on issues relevant to the Fund and shared concerns with other institutions.
  • Meetings will be organized on the margins of other international meetings when possible.
  • Management will report to the Committee on Liaison with the World Bank and other International Organizations and the Executive Board/IMFC on these interactions.

III. Key Recommendations and Actions

• Conduct five-yearly reviews of trade policy work starting in 2014.
• Develop guidance notes on financial services and PTAs by July 2010.
• Scale back trade policy conditionality in Fund-supported programs, focusing on macro-critical and country-specific issues.
• Ensure evenhandedness in trade policy advice during surveillance.
• Maintain a balanced staffing approach with economists skilled in both trade and macroeconomic issues.
• Improve access to trade policy data and enhance information sharing with the WTO and World Bank.
• Strengthen institutional cooperation through regular meetings and coordination efforts.

IV. Conclusion

• The implementation plan reflects the Board's commitment to aligning the IMF's trade policy work with global trends and institutional cooperation.
• It emphasizes efficiency, coherence, and integration of trade policy into the broader macroeconomic framework.
• The plan is designed to be flexible and resource-efficient, relying on existing structures and expertise rather than creating new divisions or incurring significant additional costs.