Toward an IMF Framework for IMF Engagement with Partners

• In Event: Survey and Evaluation of Institutionalized Collaboration

Abstract

The core mandate of the International Monetary Fund (IMF) includes monetary, exchange rate, fiscal, and financial policies in member countries. Since 2012, the IMF has expanded the application of its mandate to other policy areas (governance, social spending, climate, digital money, gender) for which it must rely on the expertise of other IFIs/IOs. This evaluation assessment finds that, while nascent, the IMF does not have a coherent institutional framework in place for engagement with partners. This has implications for the IMF’s work agenda, particularly considering the proliferation of partners and newer policy areas as well as questions surrounding objectives, expectations and boundaries related to respective organization mandates. The paper updates the literature with a discussion of distinct forms of IMF engagement with other organizations, including orchestration and convening at the institutional level and coordination, cooperation and collaboration at the institutional and operational staff levels. The paper recommends, inter alia, that the IMF Executive Board adopt a high-level Statement of Principles for Engagement with Partners to provide an institutional anchor and coherent best practice framework for determining the rationale, objectives, policies, activities, and monitoring and self-evaluation of such engagements. This could enhance the effectiveness, accountability, and legitimacy of the IMF.

Author

• Alisa Abrams, Independent Evaluation Office