IMF POLICY PAPER FIFTTEENTH PERIODIC MONITORING REPORT ON THESTATUS OF MANAGEMENT IMPLEMENTATION PLANSIN RESPONSE TO BOARD-ENDORSED IEO November 2025 IMF staff regularly produces papers proposing new IMF policies, exploring options forreform, or reviewing existing IMF policies and operations. The following documents have •APress Releasesummarizing the views of the Executive Board as expressed during its •TheStaff Report, prepared by IMF staff and completed on October 16, 2025 for theExecutive Board’s consideration on November 12, 2025. •AProposed Decisionthat was approved by the Executive Board on November 12, The IMF’s transparency policy allows for the deletion of market-sensitive information andpremature disclosure of the authorities’ policy intentions in published staff reports and Electronic copies of IMF Policy Papersare available to the public fromhttp://www.imf.org/external/pp/ppindex.aspx International Monetary FundWashington, D.C. IMF Executive Board Concludes the Fifteenth PeriodicMonitoring Report on the Status of ManagementImplementation Plans in response to Board-Endorsed IEO FOR IMMEDIATE RELEASE Washington, DC–November 19, 2025:The Executive Board of the International MonetaryFund (IMF) concluded the Fifteenth Periodic Monitoring Report (PMR) on the Status ofManagement Implementation Plans (MIPs) in Response to Board-Endorsed Independent Since being instituted in January 2007, the PMR has been reporting on the status ofimplementation of Board-endorsed IEO recommendations. The Fifteenth PMR assessed theprogress made over the past year on 48 actions contained in 11 MIPs. These include one new The Fifteenth PMR concluded that substantial progress has been made, since the last PMR,with the implementation of management actions despite persistent work pressures. The paceof implementation observed in the Fifteenth PMR, with the closure of 24 actions (or 50 percentimplementation rate), was comparable to that of the previous PMR (54 percent implementationrate) and much higher than that of the average of 35 percent per year over the last sevenPMR monitoring cycles. Overall progress has been made largely across the board withimplementation being particularly faster on actions envisaged in more recent MIPs, such asthe MIPs in response to IEO Evaluations on the IMF’s Emergency Response to the COVID-19 Executive Board Assessment Executive Directors welcomed the opportunity to discuss the Fifteenth Periodic MonitoringReport (PMR) on the Status of Management Implementation Plans (MIPs) in Response to Board Endorsed Independent Evaluation Office (IEO) Recommendations, and broadly Noting persistent workload and budgetary pressures, Directors appreciated the pace ofimplementation of management actions, comparable to the last PMR and much higher thanover the previous seven monitoring cycles. They also welcomed that the action plans areintegrated in ongoing workstreams and reviews and acknowledged that the actionsimplemented are a balance of strategic and operational in nature. Directors noted that since Directors commented on some areas with completed actions that require continued attention.They broadly echoed the IEO’s concerns about whether the new mission chief and countryteam tenure metric sufficiently address continuity and tailored advice, particularly for FCS andSDS. Ensuring sufficiently long tenures was emphasized as vital for fostering trust andproviding effective, country specific support. Some Directors stressed the need for continuedprogress in budget reporting to support strategic decision making and prioritization by the Directors noted the progress made over the past year on overdue actions, and that over halfof them are newly overdue. They stressed that continued prioritization of implementationefforts will be key to maintaining the high pace of implementation in an environmentcharacterized by elevated workloads and multiple demands on Fund staff. Directors Directors welcomed the proposal to implement permanently the prototype slippagesframework which is anchored in the Fund’s Enterprise Risk Management (ERM) frameworkand utilizes ERM tools and processes. The Slippages Framework, together with the FIFTEENTH PERIODIC MONITORING REPORT ON THE October 10, 2025 EXECUTIVE SUMMARY The Fifteenth Periodic Monitoring Report (PMR)—on the Status of ManagementImplementation Plans (MIPs) in response to Board-Endorsed Independent EvaluationOffice (IEO) Recommendations—assesses the progress made over the past year on Despite persistent workload pressures, staff has implemented 24 actions, including8 reported as overdue in the Fourteenth PMR, with 24 actions remaining open. Animplementation rate of 50 percent is comparable to that of the Fourteenth PMR, but itexceeds the average of 35 percent per year over the last seven PMR monitoring cycles. Of the 24 open actions, 16 are overdue but continue to make progress. Eleven of thesixteen actions are newly overdue. Six of the overdue acti