The IMF and Capacity Development:Evaluation Report 2022

Author: International Monetary Fund. Independent Evaluation Office

The evaluation finds IMF capacity development was relevant, valued, and broadly effective during 2012-20, but it also identifies some shortcomings.

Publication date: October 2022

ISBN: 9798400216909

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Topics covered in this book

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Banks and Banking , Exports and Imports , Money and Monetary Policy , Public Finance , Environmental Economics , Capacity Development , Technical Assistance , Training , Donors , Capacity Building , Institutional Capacity , IMF CD , CD strategy review , CD resource , CD ownership , CD work , COVID-19 , Absorptive capacity , Climate change , Information and data management , Global , Middle East and Central Asia , Middle East , Central America , Southeast Asia , North Africa , Africa , Western Hemisphere , Europe , Asia and Pacific

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Summary

Capacity development (CD) is a key function of the IMF, aiming to assist its member countries develop their institutional and human capacity to design and implement sound macroeconomic and financial policies. CD has been provided to all IMF member countries at some point, although it is directed mainly toward low- and middle-income countries. CD represents about one-third of the IMF’s administrative budget, having expanded substantially in the past decade. This evaluation assesses how effective the IMF has been in meeting the CD needs and expectations of recipient countries, and the Fund’s institutional objectives for CD, during 2012-20. It also provides an initial review of how IMF CD adapted to the challenges of the COVID-19 pandemic. The evaluation finds that IMF CD was relevant, valued, and broadly effective. Recipients, donors, and the wider membership saw IMF CD as being of the highest technical quality in the Fund’s core areas of expertise and generally perceived that it had become better tailored to recipient needs and circumstances. Overall, Fund CD has supported member countries in building the institutional capacity, in a very wide range of country circumstances. The IMF has also put substantial effort into integrating CD with surveillance and programs, which has in general enhanced its overall engagement with member countries. While recognizing these achievements, the evaluation also identifies a number of important shortcomings and challenges. The evaluation includes recommendations to enhance the strategic framework for, and prioritization of, CD; information available to Executive Directors and opportunities to exercise their oversight role; the integration of CD with surveillance and programs, particularly in the context of programs; CD ownership and delivery; the monitoring and evaluation framework; the sustainability of the CD funding model; and HR policies and incentives to maintain and develop the expertise in the Fund’s core and newly emerging CD topics.