The International Monetary Fund and the Learning Organization: The Role of Independent Evaluation

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The underlying premise of this book is that a strong global economy requires a strong IMF, and that a strong IMF requires a strong independent evaluation culture and practice. The benefits of independent evaluation for accountability and learning in international financial institutions have long been recognized. However, independent evaluation in these organizations is of increased relevance during uncertain times that call for more credible and legitimate institutions, as it offers assurances to their membership that they stay focused on their objectives and mandates. Hence, the IMF must embrace independent evaluation, as it functions as an amalgamating force that helps to keep the membership together. While evaluation has long played a function in the IMF, the book contends that independent evaluation has yet to take on a role within the IMF that fully reflects its potential contribution. Successful independent evaluation is important for the IMF to be perceived as legitimate and credible, and to achieve it, the independent evaluation function needs to be further integrated in the learning process and culture of the Fund.

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