International monetary fund independent evaluation office imf exchange rate policy advice findings and recommendations may 2007 this report summary was prepared by an ieo team headed by shinji takagi and john hicklin and including. 1 exchange rate policy advice is critical to the imfs purpose1 the imf is charged by its articles of agree ment and a landmark 1977 executive board decision to exercise surveillance over the international monetary system and members exchange rate policies2 the sub ject remains a high priority the latest review by the. Imf exchange rate policy advice revisiting the 2007 ieo evaluation this report is the seventh in a series of evaluation updates by the independent evaluation office of the imf ieo that return to past ieo evaluations and assess the continuing relevance of their main conclusions. Exchange rate analysis lies at the center of the imfs surveillance mandate and policy advice as well as in the design of imf supported programs and imf staff are called upon to analyze a variety of exchange rate issues in various member countries both small and large from the least economically developed to the most advanced and from . The report revisits the 2007 evaluation of imf exchange rate policy advice which found that the imf was not as effective as it needed to be in fulfilling its responsibilities for exchange rate surveillance in the period 1999 2005
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