In April, the Independent Evaluation Office (IEO) of the IMF released an update of a previous 2005 evaluation of the IMF’s provision of technical assistance (TA). TA is one of the Fund’s three main pillars of activity and is a form of non-financial assistance in which the Fund aims to improve the implementation of economic policies (see Observer Spring 2014). According to the 2014 IEO update there are three areas since the 2005 evaluation that require attention. Highlighting “perceptions of IMF TA being excessively driven by institutional priorities,” the IEO recommended that TA funds need to be allocated so as to ensure that assistance is country-driven in order that TA meets the demands and needs identified by the recipient country. Secondly, the update outlined the need to ensure the quality of TA in the face of increasing TA provision. Finally, it highlighted the need for improvement in the monitoring and evaluation of TA to ensure “a better job of tracking progress on major TA activities and identifying implementation problems and reasons behind shortfalls.”
World Bank & IMF in the news
EarthRights International examines how the Jam v. IFC case has helped to shift the landscape of accountability for international financial institutions by successfully challenging their claim to “absolute” immunity in US courts, potentially opening IFC up to further legal challenges in future.