2022-2023 Diversity & Inclusion Report

June2024 IMFPOLICYPAPER 2022-2023DIVERSITY&INCLUSIONREPORT IMFstaffregularlyproducespapersproposingnewIMFpolicies,exploringoptionsforreform,orreviewingexistingIMFpoliciesandoperations.Thefollowingdocumentshavebeenreleasedandareincludedinthispackage: APressReleasesummarizingtheviewsoftheExecutiveBoardasexpressedduringitsFebruary20considerationofthestaffreport. TheStaffReport,preparedbyIMFstaffandcompletedonJanuary24,2024fortheExecutiveBoard’sconsiderationonFebruary20,2024. AStaffSupplementorStaffStatement. TheIMF’stransparencypolicyallowsforthedeletionofmarket-sensitiveinformationandprematuredisclosureoftheauthorities’policyintentionsinpublishedstaffreportsandotherdocuments. ElectroniccopiesofIMFPolicyPapersareavailabletothepublicfrom http://www.imf.org/external/pp/ppindex.aspx InternationalMonetaryFundWashington,D.C. ©2024InternationalMonetaryFund PR24/245 PressRelease—IMFExecutiveBoardDiscussestheFY2022–FY2023DiversityandInclusionReport FORIMMEDIATERELEASE Washington,D.C.–June27,2024:Today,theInternationalMonetaryFund(IMF)releaseditsFY2022–FY2023DiversityandInclusionReport.ThereportwasdiscussedbytheIMF’sExecutiveBoardonFebruary20,2024.Thefinalversionofthereportreflects theinputsfromtheBoard’sdiscussions. Background ThebiennialreportispreparedbytheIMF’sDiversityandInclusionOfficeinconsultationwiththeDiversityandInclusionCouncil.TheCouncilisaFund-widerepresentativebodythatprovidesguidancetomanagement,departmentheads,anddepartmentalDiversityReferenceGroupsondiversity-relatedmatters.Thereportispublishedeverytwoyearsandprovidesanoverviewoftheinstitution’seffortstopromoteamorediverseandinclusiveworkingenvironmentforallemployees. ExecutiveBoardAssessment[1] Directorswelcomedthecomprehensiveandinsightfulreport.Whilerecognizingtheprimacyofprofessionalexcellenceintherecruitmentandpromotionofstaff,theystronglysupportedthediversityandinclusionagenda,andcommendedthesubstantial,albeituneven,progressachievedoverthepastdecadeinenhancinggenderandgeographicaldiversityamongFundstaff,includingatthemanageriallevel.TheyexpectedtheFundtobecomealeadinginstitutionintermsofdiversityandinclusivenessofstaffoverthenextdecade.However,whileacknowledgingtheaspirationalnatureoftheFY2025benchmarksinprinciple,theywereconcernedthatfouroutofeightwillnotbeachieved,andnotedthatmeetingtheregionalURRbenchmarksdoesnotcapturedifferencesinrepresentationacrosscountrieswithintheregion.Directorsurgedintensifiedeffortstoachievethesetargetsassoonaspracticable,includingviatheactionroadmapforthenexttwoyears. DirectorsemphasizedthatamorediverseworkforceisfundamentaltotheabilityoftheFundtoprovidehigh-qualityandinnovativeanalysis,advice,andcapacitydevelopmentinawaythatgainsmaximumtractionwithitsmembership.Thus,theycalledforgreaterambitionbytheFundtoinstillaculturewherediversityandinclusionisvaluedbystaff,managers,andleadersforthebenefitofstaffatallgradelevels.Theyencouragedstafftocontinuetoraiseawarenessofthebenefitsofdiversityandinclusionthroughadditionaltraining. DirectorsraisedconcernsthattheFundisonlyontracktomeethalfofitsFY2025benchmarks,andthatitisnotexpectedtomeeteitherofthegender-basedbenchmarks,normeetURRmanagerialbenchmarksforMENA+andSub-SaharanAfricastaff.Theyregrettedthatrecruitmentfortheaugmentationpriorityareashasnotcontributedtoanincreaseindiversitysofar.Directorsnotedthelower-than-averagepromotionrateforURRmenandwomen,lowsharesofwomenandURRstaffinmanagerialgrades,andlimitedprogresswiththeshareof 2 womenattheindividualcontributor(IC)levelandcalledfordeeperanalysisoftheinternalandexternalfactorsthathinderprogressintheseareas,togetherwithstepstostrengthenthepipelineofwomenandURRstaffformanagerialpositions. WhilerecognizingthesubstantialchallengesassociatedwithreachingtheremainingbenchmarksbyFY2025,DirectorsstressedtheimportanceofmaintainingaspirationalandambitioustargetsasanimportantsignaloftheFund’scommitmenttomakingprogresstowardsthesetargets,ratherthanloweringorextendingexistingtargetstoalignwithcurrenttrends.ManyDirectorsobjectedtoextendingthemissedbenchmarksuntil2030.Directorscalledforacarefulconsiderationofoptionsbythe2030BenchmarksWorkingGroup.TheyalsoencouragedstepstocontinuetorefinetheD&Ibenchmarks,includingtheirgranularity,notingdifferenceswithinregionalbenchmarks. AnumberofDirectorscalledforconsiderationofbroaderaspectsofdiversitythangenderandnationality,suchasreligion,culture,race,sexualorientation,socio-economicbackground,age,andgenderidentity.Directorswelcomedthediscussiononstaffwithdisabilitiesinthereport,andthedeeperanalysiscurrentlyunderwaytoprovideaholisticpictureandfosteramoreinclusiveenvironment.Theyemphasizedtheimportanceofcreatinganinclusiveenvironmentwhichvaluesandintegratesdifferingviews,workstyles,culturalnorms,skills,andcompetencies.DirectorsurgedsteadfastimplementationoftheRacialEquityandJusticeAdvisoryGroup(REJAG)’srecommendationstoreducetheperceptionofbias. Directorsunderscoredtheimportanceofarobustaccountabilityframeworkformanagersthatprovidesoversightoverallthefourkeyactivities(recruitment,appraisal,promotion,