Further Extension of Consultation Cycles Due To Covid-19 Pandemic, and Suspension of Framework To Address Excessive Delays in Article IV Consultations and Mandatory Financial Stability Assessments
Further Extension of Consultation Cycles Due To Covid-19 Pandemic and Suspension of Framework To Address Excessive Delays in Article IV Consultations.
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Volume/Issue:
Volume 2020
Issue 035
Publication date: July 2020
ISBN: 9781513550404
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Finance , PP , mandatory FSA , policy , consultation , fund staff , containment policy
Summary
Notwithstanding the ongoing intensive policy dialogue with the membership during the COVID-19 pandemic, there is growing need for resuming Article IV consultations and mandatory Financial Stability Assessments (FSAs). However, the resumption of Article IV consultations over the coming months will need to be gradual, remain focused on the crisis and related challenges, and be undertaken flexibly. Staff recommends a further extension of consultation cycles to accommodate the gradual nature of the restart. Staff also recommends that the application of the framework to address excessive delays in the completion of Article IV consultations and mandatory FSAs be temporarily suspended.
