What's New

We welcome your ideas on future evaluations and comments on our past and ongoing work. Please email us at ieo@imf.org
August 14, 2014
The IEO releases the report on "Revisiting the 2004 IEO Evaluation of the IMF's Role in PRSPs and the PRGF and the 2007 IEO Evaluation of the IMF and Aid to Sub-Saharan Africa."
July 01, 2014
The IEO releases the report on "Recurring Issues from a Decade of Evaluation: Lessons for the IMF."
April 10, 2014
The IEO has posted its latest Progress Report to the IMFC.
April 10, 2014
The IEO releases its Spring 2014 Dialogue Newsletter.
Spanish | French | Portuguese | RussianSpanish | French | Portuguese | Russian
April 01, 2014
The IEO has released the report on "IMF Technical Assistance: Revisiting the 2005 IEO Evaluation."
March 18, 2014
The IEO releases the report on "IMF Forecasts: Process, Quality, and Country Perspectives."
March 12, 2014
The IEO has posted the final issues paper for the evaluation IMF Response to the Financial and Economic Crisis: An IEO Assessment.
January 27, 2014
The IEO has posted a draft issues paper for the evaluation of Statistics for Global Economic and Financial Stability: The Role of the IMF. Comments are welcome and may be submitted by February 21 to ieo@imf.org. They will be considered in the preparation of the actual evaluation report.
December 13, 2013
The IEO has posted a draft issues paper for the evaluation of IMF Response to the Financial and Economic Crisis: An IEO Assessment. Comments are welcome and may be submitted by January 17 to ieo@imf.org. They will be considered in the preparation of the actual evaluation report.
November 26, 2013
The IEO has posted the final issues paper for the evaluation Recurring Issues from a Decade of Evaluation: Lessons for the IMF.
October 10, 2013
The IEO has posted its latest Progress Report to the IMFC.
October 09, 2013
IEO releases its Fall 2013 Dialogue Newsletter.
Spanish | French | Portuguese | RussianSpanish | French | Portuguese | Russian
August 06, 2013
The IEO released its 2013 Annual Report, which describes the activities of the IEO over the last year.
August 05, 2013
The IEO has posted a draft issues paper for the evaluation of Recurring Issues from a Decade of Evaluation: Lessons for the IMF. Comments are welcome and may be submitted to ieo@imf.org. They will be considered in the preparation of the actual evaluation report.
April 22, 2013
The IEO has posted its latest Progress Report to the IMFC.
April 16, 2013
IEO releases its Spring 2013 Dialogue Newsletter.
Spanish | French | Portuguese | RussianSpanish | French | Portuguese | Russian
March 21, 2013
On March 21, 2013, the IMF Executive Board discussed the Second External Evaluation of the IEO, which concluded that the IEO has contributed to strengthening the effectiveness, learning culture, and accountability of the IMF. It also found that the IEO is widely recognized as the most independent of the evaluation offices of the international financial institutions.
Full text (pdf)
IEO response (pdf)
Public Information Notice
February 22, 2013
The IEO has posted a draft issues paper for the evaluation of IMF Forecasts: Process, Quality, and Country Perspectives. Comments are welcome and may be submitted by March 20 to ieo@imf.org. They will be considered in the preparation of the actual evaluation report.
February 20, 2013
The IEO releases the report on "The Role of the IMF as Trusted Advisor."
January 29, 2013
The IEO has released a new book titled "Independent Evaluation at the IMF: The First Decade."
Full text (pdf)
Purchase at IMF Bookstore
December 19, 2012
The IEO releases the report on "International Reserves: IMF Concerns and Country Perspectives."
October 17, 2012
The IEO has posted its latest Progress Report to the IMFC.
October 11, 2012
The IEO releases its Fall 2012 Dialogue Newsletter.
Spanish | French | Portuguese | RussianSpanish | French | Portuguese | Russian
September 24, 2012
The IEO seeks input on future evaluation topics and has posted a note on Possible Topics for Evaluation over the Medium Term, which reflects suggestions received from country authorities, IMF Executive Directors, management and staff, as well as outside stakeholders. Comments may be submitted by October 22 to ieo@imf.org.
August 02, 2012
The second external evaluation of the IEO is underway.
July 23, 2012
The IEO released its 2012 Annual Report, which describes the activities of the IEO over the last year.
April 23, 2012
The IEO has posted its latest Progress Report to the IMFC.
April 16, 2012
The IEO releases its Spring 2012 Dialogue Newsletter.
Spanish | French | Portuguese | RussianSpanish | French | Portuguese | Russian
February 08, 2012
The IEO has posted the final issues paper for the evaluation of "Learning From Experience At The IMF: An IEO Assessment of Self-Evaluation Systems."
December 06, 2011
**UPDATED** To mark its 10th anniversary, the IEO held a conference titled "Ten Years of Independent Evalution at the IMF: What Does it Add Up To?"
**Opening Remarks by IEO Director Moisés Schwartz**
October 17, 2011
The IEO has posted the final issues paper for the evaluation of "The Role of the IMF as Trusted Advisor."
September 28, 2011
The IEO has posted its latest Progress Report to the IMFC.
September 22, 2011
The IEO releases its Fall 2011 Dialogue Newsletter.
Spanish | French | Portuguese | RussianSpanish | French | Portuguese | Russian
September 20, 2011
The IEO has posted the final issues paper for the evaluation of "International Reserves: IMF Advice and Country Perspectives."
September 20, 2011
The IEO released its 2011 Annual Report, which describes the activities of the IEO over the last year.
August 03, 2011
The IEO has posted a draft issues paper for the evaluation of Learning From Experience At The IMF: An IEO Assessment of Self-Evaluation Systems. Comments are welcome and may be submitted by August 26 to ieo@imf.org. They will be considered in the preparation of the actual evaluation report.
June 23, 2011
The IEO has posted a draft issues paper for the evaluation of "The Role of the IMF as Trusted Advisor." Comments are welcome and may be submitted by July 29 to ieo@imf.org. They will be considered in the preparation of the actual evaluation report.
June 21, 2011
The IEO releases the report on "Research at the IMF: Relevance and Utilization."
May 24, 2011
The IEO has posted a draft issues paper for the evaluation of "International Reserves: IMF Advice and Country Perspectives." Comments are welcome and may be submitted by July 15 to ieo@imf.org. They will be considered in the preparation of the actual evaluation report.
April 13, 2011
The IEO has posted its latest Progress Report to the IMFC.
April 13, 2011
The IEO releases its Spring 2011 Dialogue Newsletter
Spanish | French | Portuguese | RussianSpanish | French | Portuguese | Russian
February 09, 2011
The IEO releases the report on "IMF Performance in the Run-Up to the Financial and Economic Crisis: IMF Surveillance in 2004-07."
October 04, 2010
The IEO releases its Fall 2010 Dialogue Newsletter
Spanish | French | Portuguese | RussianSpanish | French | Portuguese | Russian
August 20, 2010
The IEO has posted a note on Possible Topics for Evaluation over the Medium Term which reflects suggestions received from country authorities, IMF Executive Directors, Management and staff, as well as outside stakeholders.
July 09, 2010
The IEO released its 2010 Annual Report, which describes the activities of the IEO over the last year.
April 30, 2010
The IEO has posted its latest Progress Report to the IMFC.
April 15, 2010
The IEO releases its Spring 2010 Dialogue Newsletter
Spanish | French | Portuguese | RussianSpanish | French | Portuguese | Russian
March 18, 2010
The IEO has posted final issues papers for the evaluation of "IMF Performance in the Run-Up to the Current Financial and Economic Crisis" and
"Research at the IMF: Relevance and Utilization"
January 20, 2010
The Independent Evaluation Office announces the release of the report on IMF Interactions with Member Countries.
December 03, 2009
The IMF's Executive Board selected Mr. Moises Schwartz of Mexico as the new Director of the IEO. Mr. Schwartz has been President of the National Commission for Retirement Savings in Mexico since December 2006. Between 2004 and 2006 he served as an Executive Director of the IMF. Prior to that, Mr. Schwartz held several senior positions in Mexico’s public administration, including as the Finance Minister’s Chief of Staff and Director General of International Financial Affairs within the Ministry of Finance. He has also served as Director of Macroeconomic Analysis and Director of Economic Studies in Mexico’s Central Bank.
October 09, 2009
The IEO has posted its latest progress report to the IMFC
September 22, 2009
The IEO releases its Fall 2009 Dialogue Newsletter
Spanish | French | Portuguese | RussianSpanish | French | Portuguese | Russian
August 03, 2009
The IEO has posted a draft issues paper for the evaluation of "Research at the IMF: Relevance and utilization". Comments and inputs on the issues paper are welcome and should be submitted by September 24 to imf@ieo.org. They will be considered in the preparation of the actual evaluation report.
July 29, 2009
The IEO has posted a draft issues paper for the evaluation of "IMF Performance in the Run-Up to the Current Financial and Economic Crisis." Comments and inputs on the issues paper are welcome and should be submitted by September 15 to ieo@imf.org. They will be considered in the preparation of the actual evaluation report.
July 23, 2009
The IEO released its 2009 Annual Report, which describes the activities of the IEO over the last year.
June 29, 2009
As previously announced, the IMF's Executive Board is in the process of selecting a new Director of the IEO. Please find attached the advertisement for the position. Any expression of interest should be sent directly to Russell Reynolds Associates at IMF-IEO@russellreynoldsassociates.com
June 16, 2009
The Independent Evaluation Office announces the release of the report on IMF Involvement in International Trade Policy Issues.
April 22, 2009
The IEO has posted its latest progress report to the IMFC
April 08, 2009
The IEO releases its Spring 2009 Dialogue Newsletter
Spanish | French | Portuguese | RussianSpanish | French | Portuguese | Russian
March 26, 2009
Tom Bernes, Director of the IEO since June 2005, has notified the IMF's Executive Board of his intention to leave the Office at the end of July 2009.
Managing Director's Response
Board Response
December 29, 2008
The IEO has posted the final issues paper for the evaluation on "The IMF's Interactions with its Member Countries."
October 27, 2008
Transcript of IEO Director Tom Bernes' speech on "Evaluation, Learning, and Accountability: The IMF in a Time of Global Crisis."
October 14, 2008
The IEO has posted its latest progress report to the IMFC.
October 13, 2008
The IEO releases its Fall 2008 Dialogue Newsletter
Spanish | French | Portuguese | RussianSpanish | French | Portuguese | Russian
October 01, 2008
The IEO released its 2008 Annual Report, which describes the activities of the IEO over the last year.
August 05, 2008
The IEO has posted a menu of Possible Topics for Evaluation over the Medium Term. In this note, IEO presents a deliberately broad list, which reflects the many suggestions received from outside stakeholders as well as IMF Executive Directors, Management, and staff. Additions to its work program will be finalized in early fall. Any comments and further suggestions would be greatly appreciated and can be sent to ieo@imf.org by September 12, 2008.
June 19, 2008
The IEO has posted the final issues paper for the evaluation on "The IMF's Approach to International Trade Policy Issues." It takes into account various comments received from Executive Directors, staff, and the public.
May 28, 2008
The Independent Evaluation Office announces the release of the report on Governance of the IMF: An Evaluation
May 15, 2008
The IEO has posted a draft issues paper for IEO's evaluation of "The IMF's Interactions with its Member Countries." Comment and input from the public on the evaluation are welcome and may be submitted to ieo@imf.org. They will be considered in the preparation of the evaluation report.
April 14, 2008
The IEO has posted its latest progress report to the IMFC
April 07, 2008
The IEO releases its Spring 2008 Dialogue Newsletter
Spanish | French | Arabic | Chinese | Japanese | Portuguese | RussianSpanish | French | Arabic | Chinese | Japanese | Portuguese | Russian
March 21, 2008
The IEO has posted a draft issues paper on "The IMF's Approach to International Trade Policy Issues." Comments and inputs from the public on the evaluation are welcome and may be submitted to ieo@imf.org. They will be considered in the preparation of the actual evaluation report.
January 03, 2008
The Independent Evaluation Office announces release of the report on the IEO Evaluation of Structural Conditionality in IMF-Supported Programs (Executive Summary, Main Findings and Recommendations)
Executive Summary
Main Findings and Recommendations
December 21, 2007
Transcript of IEO Director Tom Bernes' speech on "The IEO: Lessons Learned, Emerging Themes, and Priorities for Future Work."
October 25, 2007
The IEO has posted its latest progress report to the IMFC.
October 09, 2007
The IEO releases its Fall 2007 Dialogue Newsletter
Spanish | French | Arabic | Chinese | Portuguese | RussianSpanish | French | Arabic | Chinese | Portuguese | Russian
August 22, 2007
Transcript of IEO Director Tom Bernes' speech on "The Road to Middle-Income Country Status: Evaluation Lessons about the Role and Performance of the IMF in Assisting Low-Income Countries."
August 21, 2007
The IEO released its 2007 Annual Report , which describes the activities of the IEO over the last year and reports on the follow up of previous evaluations.
August 15, 2007
The IEO has posted the final issues paper for the evaluation of "Aspects of IMF Corporate Governance—Including the Role of the Board." It takes into account various comments received from Executive Directors, staff, and the public.
July 11, 2007
The IEO has posted a new IEO Background Paper for its ongoing evaluation of IMF Corporate Governance, with the title "The Process for Selecting and Appointing the Managing Director and First Deputy Managing Director of the IMF."
June 15, 2007
The Independent Evaluation Office is seeking Economists/Sr. Economists or Evaluators/Sr. Evaluators.
May 17, 2007
The Independent Evaluation Office announces release of the report of An IEO Evaluation of IMF Exchange Rate Policy Advice, 1999-2005.
Press Release
Overview, Findings and Recommendations
Press Briefing with IEO Director Tom Bernes and FDMD John Lipsky:
Webcast
Spanish | French | Arabic | Chinese | Japanese | Portuguese | RussianSpanish | French | Arabic | Chinese | Japanese | Portuguese | Russian
May 15, 2007
Independent Evaluation Office (IEO) posts its draft issues paper on Aspects of IMF Corporate Governance-Including the Role of the Board
April 12, 2007
The IEO releases the first edition of its IEO Dialogue newsletter
March 12, 2007
The Independent Evaluation Office announces the release of the report on an Evaluation of the "IMF and Aid to Sub-Saharan Africa."
English | FrenchEnglish | French
September 29, 2006
The IEO released its third Annual Report (2005-06) covering developments over the last year and a half. This report is the first under the tenure of Director Thomas A. Bernes and describes not only the activities of the IEO but also the findings of an external evaluation panel charged with assessing whether the IEO is meeting its goals.
July 31, 2006
The IEO announces additions to its work program for fiscal year 2007 and beyond. Projects added to the work program are "Aspects of Corporate Governance--Including the Role of the Board"; "The IMF's Interactions with its Member Countries"; "The Fund's Research Agenda"; and "The Fund's Approach to International Trade Issues".

The work program has been determined, as required under the Terms of Reference, by the IEO's Director on the basis of an extensive process of consultation with the Executive Board, management, staff and external stakeholders.

Comments on the work program and on the selected topics are always welcome, to be sent to ieo@imf.org.
July 26, 2006
The IEO is conducting a communications survey. We would appreciate your participation by August 2nd, 2006.
June 26, 2006
The IEO has posted the final issues paper for the evaluation of "The IMF's Advice on Exchange Rate Policy." It incorporates comments received from Executive Directors, staff, and the public.
June 15, 2006
The IEO welcomes the External Evaluation Panel's main conclusion, endorsed by the IMF Executive Board, that the IEO has served the IMF well, and commits to actively following up on the recommendations for further strengthening the IEO's effectiveness.

When the IEO was created in 2001, its terms of reference required an external evaluation take place within a few years to review experience with the new entity. This evaluation was concluded on March 29, 2006 when an external panel (Karin Lissakers, Former U.S. Executive Director to the IMF and currently chief advisor to George Soros on globalization issues; Ishrat Husain, Governor of the Central Bank of Pakistan from 1999-2005; and Ngaire Woods, Director of the Global Economic Governance Program at Oxford University) presented its Report of the External Evaluation of the Independent Evaluation Office to the IMF Board. The report was discussed by the Board together with statements by the Director of the IEO (including a supplement), IMF Management, IMF Staff, and comments by the former Director of the IEO, Mr. Montek Singh Ahluwalia, on April 26, 2006.

In their discussion, Directors agreed that the IMF continues to need an independent evaluation office to contribute to the institution's learning culture and facilitate oversight and governance by the Executive Board. They welcomed the Panel's observation that the individuals it has interviewed inside and outside the Fund are overwhelmingly of the view that the IEO has acted independently. Executive Directors generally supported the panel's recommendations aimed at improving the IEO's effectiveness in fulfilling its mandate. IEO indicated its intention to actively follow up on the recommendations.
Terms of Reference for IEO Director
Report of the External Evaluation of the Independent Evaluation Office
discussion
May 31, 2006
The IEO has posted the revised issues paper for the "Evaluation of the IMF's Role in the Determination of the External Resource Envelope in Sub-Saharan African Countries." The paper is also available in French and Portuguese. Comments and inputs from the public on the evaluation continue to be welcome and may be submitted to ieo@imf.org. They will be considered in the preparation of the actual evaluation report.
French | PortugueseFrench | Portuguese
May 08, 2006
The IEO has posted a menu of Possible Topics for Evaluation over the Medium Term. In this note, IEO presents a deliberately broadly drawn list, which reflects the many suggestions received from outside stakeholders as well as IMF Executive Directors, Management, and staff-including those received as a result of the request for inputs posted on the website on February 14, 2006.

Based on this list, during the second half of May, IEO will work on a short list of topics to be added its work program. Any comments and further suggestions would be greatly appreciated to be sent to ieo@imf.org, preferably before May 15, 2006.
April 07, 2006
The Independent Evaluation Office Announces Release of the Report on An Evaluation of the IMF's Multilateral Surveillance.
February 03, 2006
The Independent Evaluation Office announces the release of the report on the evaluation of the "Financial Sector Assessment Program (FSAP)."
December 06, 2005
The Independent Evaluation Office announces the release of the report on the evaluation of "IMF Support to Jordan, 1989-2004."
May 25, 2005
The Independent Evaluation Office announces the release of the report on "The IMF's Approach to Capital Account Liberalization."
March 02, 2005
The Independent Evaluation Office announces the release of the report on the evaluation of "Technical Assistance Provided by the Fund."
July 29, 2004
The Independent Evaluation Office announces the release of the report on "The role of the IMF in Argentina, 1991-2001."
July 27, 2004
The Independent Evaluation Office announces the release of the report on the "Poverty Reduction Strategy Papers (PRSPs) and the Poverty Reduction and Growth Facility (PRGF)."
November 11, 2003
Transcript of IEO Director Montek S. Ahluwalia's speech on "IMF Operations and Democratic Governance: Some Issues."
September 17, 2003
IMF's Independent Evaluation Office (IEO) issues its First Annual Report.

The IEO today released its first Annual Report. The report summarizes the conclusions and recommendations of the first three evaluation projects (on the prolonged use of IMF resources; the role of the IMF in recent capital account crises; and the role of fiscal adjustment in IMF-supported programs). The report discusses several common themes emerging from these evaluations—including the implications for IMF surveillance, ownership and conditionality, and the implications of uncertainty for program design. The report also discusses the status of ongoing evaluation projects (an evaluation of Poverty Reduction Strategy Papers (PRSP) and the Poverty Reduction and Growth Facility (PRGF) the role of the IMF in Argentina, 1991-2002; and IMF technical assistance).
September 09, 2003
The Independent Evaluation Office (IEO) releases the report on "The Role of Fiscal Adjustment in IMF-Supported Programs."
July 28, 2003
The Independent Evaluation Office (IEO) releases the report on "The IMF and Recent Capital Account Crises."
February 05, 2003
The IEO announces work program for 2003/2004.
September 25, 2002
The Independent Evaluation Office announces the release of the report on "Prolonged Use of IMF Resources."
December 05, 2001
The Independent Evaluation Office announces its work program.