IMF Performance in the Run-Up to the Financial and Economic Crisis: IMF Surveillance in 2004-07

Full Text of Main Report

Executive Summary

English

Full Report by Sections
Foreword
1. Introduction
2. Evaluation Framework
3. IMF Messages in the Run-Up to the Crisis
4. Why Did the IMF Fail to Give Clear Warning?
5. Toward More Effective IMF Surveillance
Statement by the Managing Director on the IEO Evaluation
Staff Response to the IEO Evaluation
Summing Up of the Executive Board Discussion
Annexes
1. Timeline of Relevant Events
3. Country Coverage
4. Early Analysis and Diagnosis of Factors Leading to the Crisis
5. Weaknesses in FSAPs in Advanced Economies
7. How Did Country Authorities View the IMF’s Performance?
8. Area Department Survey of Staff
2. Factors That Contributed to the Crisis According to IMF Staff
6. Conclusions / Recommendations from Previous Reports and Evaluations
Background Papers
1. Summary of Views of the Advisory Group
Series Number: BP/10/01
2. Multilateral Surveillance
Series Number: BP/10/02
Author: Angana Banerji
3. Bilateral Surveillance in Selected IMF Member Countries
Series Number: BP/10/03
Author: Nancy Wagner
4. Bilateral Surveillance of the United States
Series Number: BP/10/04
Author: Sanjay Dhar
5. Bilateral Surveillance of the United Kingdom
Series Number: BP/10/05
Author: David Peretz
6. Bilateral Surveillance in Switzerland
Series Number: BP/10/06
Author: Biagio Bossone with the collaboration of Roberta Marra
Press Release
Press Release Webcast (18mb ASF video file)
IEO Releases Report on IMF Performance in the Run-Up to the Financial and Economic Crisis: IMF Surveillance in 2004-07
Follow Up
Implementation Plan in Response to Board-Endorsed Recommendations for the IEO Evaluation of IMF Performance in the Run-Up to the Financial and Economic Crisis